A SERVICE RECOGNIZED BY THE MOST DEMANDING CLIENTS 2014 Change vs 2013 Average residual Average residual Contractualization term of firm term including rate contracts options OTHERS 39.0% Deepwater offshore 74.4% 12.3 months…
A MODERN AND RELIABLE FLEET 504 vessels in operation Average age 6.4 years Bourbon Explorer 504 Technical availability rate 20 vessels on 2013 2014 order Total Fleet 94.5% 95.5% 95% Including 6 crew boats Figures as of…
DISCIPLINE IN MANAGING COSTS Operating costs Investment costs Crew Construction in series 2013 2014 2015 Total Standardization of equipment Maintenance 104 97.2 96 Dockings fleet Optimization of order timing Operating cost…
2014 BOURBONS FINANCIAL HIGHLIGHTS Growth of revenues and profitability - Adjusted Revenues growth of 5.6 % in line with the fleet (FTE) - Increase in the operational profitability, adjusted EBITDAR/revenues increased 1.8 points -…
INCOME STATEMENT (1/2) 2013 Change 2014 2014/ (restated)* 2013 Number of vessels ** (end of period) 505 485 +4.1% In millions of euros Adjusted Revenues 1,385.3 1,311.9 +5.6% Direct cost (excluding bareboat charter costs)…
INCOME STATEMENT (2/2) 2013 Change In millions of euros 2014 2014/ (restated)* 2013 Adjusted Operating income (EBIT) 138.6 302.6 -54.2% IFRS 11 impact (1.6) (2.7) -38.4% EBIT 137.0 299.9 -54.3% Financial income (9.0) (133.4)…
FINANCIAL INCOME INCREASED: DOLLAR EFFECT In millions of euros Gains and losses on realised 2011-2014 = 44 million exchange 40 48.1 20 20.4 17 8.9 11 2.6 0 -3.7 0.7 -8.7 -5.1 -14.9 -18.9 -0.8 -29.4 -20 -15.7 -40…
GROWTH OF FREE CASH FLOW* In millions of euros 750 500 250 0 -250 -500 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013** 2014 * Free cash-flow: Cash flows linked to operating activities outflows linked to…
NET DEBT REDUCED SIGNIFICANTLY Net debt (In millions of euros) 30 juin 2013* 2400 10.0 2,151 2,061 1,955 1,750 1,765 8.0 1,702 1,349 6.0 4.0 1,420 1,245 1,270 1,065 1,150 2.0 866 0 0.0 2009 2010 2011 2012 2013*…
UPDATE ON ASSET SMART STRATEGY Progress on Asset Smart plan - Planned sale of US2.5 billion - US1,788 million in sales already signed Update on objectives - No additional investments than those already committed under the Bourbon…
ROBUST NET INCOME OF 98.7 MILLION Net income of 98.7 million in 2014 is a result of: - The continued increase in the operated fleet - Increase in operational profitability - Execution of the Asset smart strategy - A favorable…
2015 OBJECTIVES Reminder of 2014 objectives 2014 Results Revenue growth Growth in revenues between 8 and 10% - +6.7% at constant rates - +5.6% at current rates Slight increase in operating margin (EBITDAR/ Margin EBITDAR/revenues…
BOURBON IS FACING A NEW ENVIRONMENT IN OFFSHORE OIL SERVICES The rapid drop in the price of oil has resulted in a strong reduction in investments in offshsore Oil & Gas (-15% to -30% according to clients) and unprecedented cost…
BOURBON ADAPTS TO THE NEW CIRCUMSTANCES IN 2015 Focus on excellence in service execution Reinforce the cost reduction in both direct costs and general & administrative costs Remain close to and listen to our clients with the…
DIVIDEND PER SHARE _Proposal to maintain dividend payment of 1 */share 1.00 1.00 0.74 0.74 0.75 0.75 +34% 0.68 2008 2009 2010 2011 2012 2013 2014 * Adjusted for bonus shares granted 22 Annual results 2014 - March 4, 2015
QUESTIONS & ANSWERS
APPENDIX
CONSOLIDATED BALANCE SHEET Dec 31, Dec 31, Dec 31, 2013 Dec 31, 2013 ASSETS (in millions of euros) LIABILITIES (in millions of euros) 2014 2014 (restated)* (restated)* Shareholders' equity 1,625 1,485 Net properties and equipment…
CASH FLOW In millions of euros Dec. 31, 2014 Net cash as of December 31, 2013 (restated) 99.0 Net cash flow from operating activities 316.4 Net cash flow from investing activities 151.5 Net cash flow from financing activities…
MARINE SERVICES ACTIVITY Change 2014 2013 2014/ 2013 Number of vessels* (end of period) 483 466 +17 vessels Utilization rate 80.8% 83.0% -2.2 pts In millions of euros Adjusted Revenues 1,132.3 1,064.7 +6.4% Direct costs (excl.…
MARINE SERVICES DEEPWATER OFFSHORE VESSELS Change 2014 2013 2014/ 2013 Number of vessels* (end of period) 79 72 +7 vessels Utilization rate 86.9% 88.9% -2 pts In millions of euros Adjusted Revenues 403.2 391.6 +3.0% Direct…
MARINE SERVICES SHALLOW WATER OFFSHORE VESSELS Change 2014 2013 2014/ 2013 Number of vessels* (end of period) 139 122 +17 vessels Utilization rate 88.6% 89.8% -1.2 pts In millions of euros Adjusted Revenues 446.3 376.0…
MARINE SERVICES CREW BOATS Change 2014 2013 2014/ 2013 Number of vessels* (end of period) 265 272 -7 vessels Utilization rate 75.4% 78.7% -3.3 pts In millions of euros Adjusted Revenues 282.9 297.2 -4.8% Direct costs (excl.…
SUBSEA SERVICES ACTIVITY Change 2014 2013 2014/ 2013 Number of vessels* (end of period) 21 18 +3 vessels Utilization rate 85.0% 90.2% -5.2 pts In millions of euros Adjusted Revenues 230.2 223.3 +3.1% Direct costs (excl.…
FLEET POSITION AS OF DECEMBER 31, 2014 North Sea: 8 vessels France : 8 vessels Americas Mediterranean - Middle- 60 vessels East - India +6 42 vessels West Africa 330 vessels +10 South East Asia 56 vessels +4 Changes vs…
KEY FIGURES AS OF DECEMBER 31, 2014 Marine Services Subsea Services Shallow water Deepwater Offshore Crewboats Offshore Number of vessels 79 139 265 21 Average utilization rate 86.9% 88.6% 75.4% 85.0% Average daily rate…
UTILIZATION RATES (%) DEEPWATER & SHALLOW WATER In % 100 92 90 Number of vessels Average Change 87 as of 31/12/2014 Year 2014 vs. 2013 79 86.9% - 2 pts 80 Deepwater 70 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2…
UTILIZATION RATES (%) - CREWBOATS In % Number of vessels Average Change as of 31/12/2014 Year 2014 vs. 2013 100 265 75.4% - 3.3 pts 90 85 80 70 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3…
UTILIZATION RATES (%) - IMR Number of vessels Average Change as of 31/12/2014 Year 2014 vs. 2013 In % 100 21 85.0% - 5.2 pts 92 90 87 80 70 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2011 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2…
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