Q3 2014 Earnings Call Agenda I. Introduction Ben Slusarchuk, VP Finance II. Operational Highlights Chris Bradshaw, Acting CEO and CFO III. Financial Review Chris Bradshaw, Acting CEO and CFO IV. Questions & Answers 1
Non-GAAP Financial Measures Reconciliation This presentation includes EBITDA and Adjusted EBITDA as supplemental measures of the Companys operating performance. EBITDA is defined as Earnings before Interest (includes interest income,…
Operational Highlights 4
Q3 2014 Highlights Record revenue of 90.5mm Revenue (000s) Record Adjusted EBITDA excluding gains 125,000 12% 5% Special items included charges related to 100,000 90,510 90,510 86,580 the accelerated recognition of 80,997…
Oil & Gas Gulf of Mexico Record revenue of 52.9mm The year-over-year comparison benefitted from our EC225s operating for a full quarter compared to partial quarter in prior year and increased charter activity at higher rates for…
Oil & Gas Alaska Decline in revenue over the prior year quarter due to a smaller fleet and lower utilization Sequential quarter decline primarily due to lower utilization of medium helicopters Revenue (000s) Flight Hours 20,000…
Oil & Gas International Increase in revenue over the prior year quarter primarily due to higher rates Sequential quarter increase due to the start of a short-term contract This contract concluded subsequent to quarter end…
Dry Leasing Increased revenues due to increased cash collections from Aeroleo Aeroleo cash collections increased 3.1mm over prior year quarter and 2.3mm over Q2 2014 Partially offset by leases which ended subsequent to prior year…
Search and Rescue Increase in revenues over the prior year quarter due to higher subscription rates related to a third AW139 SAR helicopter placed into service Sequential quarter increase primarily due to charter flights with…
Air Medical Decline in revenues primarily due to contract which ended on June 30, 2014 Currently operate three contracts with a mix of helicopters owned by Era, leased-in by Era or owned by the hospitals New England Maine North…
Flightseeing Decline in revenues over the prior year quarter due to reduced activity primarily driven by adverse weather conditions Sequential quarter increase driven by normal seasonality Seasonal business which operate AS350s out…
FBO Strong operating revenues this quarter primarily due to increased fuel sales Era operates a fixed based operation (FBO) at Ted Stevens Anchorage International Airport that sells fuel on an ad-hoc basis and leases hangar and…
Helicopter Order and Options Book Remaining Amount Delivery Class Type Number Firm Cancellable Current Order Book 2014 Heavy AW189 3 33.2 2015 Heavy AW189 2 13.2 15.5 2015 Heavy S92 1 17.2 2016 Heavy AW189 3 47.4 2016 Heavy…
Brazil Update An Inflection Point By May 2015, all of Aeroleos Current Aeroleo Fleet existing helicopters are expected to be operating on long-term contracts (fully utilized for the first time) 2 additional AW139s are being sent…
Houma Base Expansion Houma, LA base expansion project progressing Base Plan When completed, it will be the premier helicopter operating facility in the Gulf Coast area Expected total cost of 22mm 11mm incurred to date Customers…
Financial Review 17
Period Over Period Comparison Three Months Ended September 30, 2014 2013 Change % Variance (000s) Operating revenues 90,510 80,997 9,513 12% Operating expenses 54,282 51,338 2,944 (6%) G&A expenses 12,941 9,683 3,258 (34%)…
Fleet Overview Joint Average Owned Ventured Leased-In Managed Total Age(a) Heavy: EC225 9 9 4 Total Heavy 9 9 Medium: AW139 38 1 39 5 B212 9 9 36 B412 6 6 33 S76 A/A++ 2 2 24 S76 C+/C++ 5 1 6 8 Total Medium 60 1 1 62 Light…
Capitalization and Financial Policy September 30, 2014 Era continues to generate substantial free (000s) cash flow before growth capex Cash and cash equivalents 40,357 Flexibility to deploy capital for attractive Credit facility 55,000…
NAV per Share Calculation (as of 9/30/2014) (in million, except share data) + FMV of Helicopters 927 + NBV of Other PP&E 128 + Working Capital 78 + Other Net Tangible Assets 44 - Long-term Debt (280) - Deferred Taxes (217) Net…
Operating Revenues by Line of Service Three Months Ended (000s) 30-Sep-14 30-Jun-14 31-Mar-14 31-Dec-13 30-Sep-13 Oil and gas:(a) U.S. Gulf of Mexico 52,870 51,715 49,141 45,435 40,503 Alaska 7,984 9,305 6,197 6,885 14,003…
Flight Hours by Line of Service Three Months Ended 30-Sep-14 30-Jun-14 31-Mar-14 31-Dec-13 30-Sep-13 Oil and gas:(a) U.S. Gulf of Mexico 10,594 11,065 9,447 10,304 10,003 Alaska 939 1,122 682 895 2,860 International 57 62 60…
Reconciliation of Non-GAAP Financial Measures Historically, SEACOR charged its corporate costs and overhead charges to all of its operating divisions These charges have been excluded from Adjusted EBITDA to more accurately reflect Eras…
Quarterly Reconciliation of Non-GAAP Financial Measures Quarterly Historical EBITDA and Adjusted EBITDA Three Months Ended (USD in thousands) 31-Mar-13 30-Jun-13 30-Sep-13 31-Dec-13 31-Mar-14 30-Jun-14 30-Sep-14 Net Income (Loss)…
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