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AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa

Farstad Shipping Asa · Aug 25, 2011 · 42 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 1
    Agenda Company C Structure St t Financial Matters and Values Shareholder matters Business Focus Competitors, Market, Prospects The Fleet and Employment Presentation August 25th 2011 CEO Karl-Johan Bakken CFO Torstein L.…
  2. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 2
    Farstad Shipping brief summary No of vessels in operation: 57 (32 AHTS, 23 PSV, 2 Subsea): No of newbuilds: 8 No of employees offshore: 1.770 No of employees onshore: 200 Market k value l fleet fl (excl. newbuilds): Bln. l…
  3. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 3
    Farstad Shipping ASA Listed since 1988 Largest shareholders (15.08.11) No of shares % 1 Tyrholm & Farstad AS 15 796 199 40,5 2 Folketrygdfondet 3 941 600 10,1 3 Brown Brothers Harriman Fidelity 3 202 122 8,2 4 Pareto Aksje Norge 1…
  4. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 4
    Farstad Shipping pp g Company p y structure Farstad Shipping ASA 100% 100% 100% 100% 100% 100% 100% 100% Farstad Farstad Farstad Shipping Pte.Ltd Farstad Shipping Ltd Farstad Farstad Farstad Brasil AS Australia AS…
  5. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 5
    Result 2th Quarter 2011 (NOK mill.) Res 2Q-10 Res 2Q-11 An acceptable quarter in a challenging year Operating income 853,3 880,4 Reasonably good spot market NS Profit on sale of assets 1,1 3,5 New term contracts acceptable rates…
  6. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 6
    Development result (NOK mill.) 2Q-10 3Q-10 4Q-10 1Q-11 2Q-11 Operating income excl. Sale of vessels 853,3 867,9 905,3 801,0 880,4 Crewing expenses vessels 285,1 310,3 300,5 332,7 338,5 Other operating expenses vessels 130,7 123,8…
  7. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 7
    Result 30.06. 30 06 2011 (NOK mill.) Res.30.6.10 Res.30.6.11 Operating income 1 583,8 1 681,5 Profit on sale of fixed assets 1,1 3,5 Total operating income 1 585,0 1 684,9 Crewing expenses vessels 551,0 671,2 Other operating expenses…
  8. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 8
    De elopment res Development lt - Quarterly result Q arterl Operating income excl. sale of assets Mill NOK 1 000,0 900,0 800,0 700,0 600,0 500,0 400,0 300,0 200,0 100,0 0,0 1st Quarter 2nd Quarter…
  9. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 9
    De elopment res Development lt - Quarterly result Q arterl EBIT excl. profit from sale of vessels Mill NOK 500,0 500 0 450,0 400,0 350,0 300,0 250,0 200,0 150,0 100,0 50,0 0,0 1st Quarter 2nd Quarter 3rd…
  10. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 10
    Result 2Q and 30.06.11 30 06 11 sorted by segment Operating income- sorted by segment OPERATING INCOME *) 2. quarter 2. quarter 1.1-30.06 1.1-30.06 1.1-31.12 2011 2010 2011 2010 2010 Northwest Eurpoe Brasil Indian Pacific Other…
  11. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 11
    Result 2Q and 30.06.11 30 06 11 Comprehensive Income/Equity STATEMENT OF 2 quarter 2. t 2 quarter 2. t 1 1 30 06 1.1-30.06 1 1 30 06 1.1-30.06 1 1 31 12 1.1-31.12 COMPREHENSIVE INCOME 2011 2010 2011 2010 2010 Result 119 678 114…
  12. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 12
    Result 2Q and 30.06.11 30 06 11 Cash Flow STATEMENT OF CASH FLOW 2. quarter 2. quarter 1.1-30.06 1.1-30.06 1.1-31.12 2011 2010 2011 2010 2010 Cash flow from operating activity 318 513 411 910 470 575 882 376 1 666 754 Cash flow…
  13. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 13
    Balance Sheet 30.06.11 ASSETS 30.06.11 30.06.10 31.12.10 EQUITY AND LIABILITIES 30.06.11 30.06.10 31.12.10 Goodwill 30,2 30,2 30,2 Total equity capital 6 660,8 6 277,0 6 582,4 Vessels etc. 11 081,1 11 178,2 11 278,7 Deferred…
  14. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 14
    Market values vessels -free of charter and available in the market Mill. NOK Mill. NOK 575 575 550 550 525 525 Average increase in values of 500 500 Farstad fleet in 2007: 18,1% 475 475 450 450 425 425 Average decrease in values of…
  15. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 15
    Farstad Shipping - Values NOK dividend/ share Values NOK/ share 6,00 300 5,00 250 4,00 200 3 00 3,00 150 2,00 100 1,00 50 0,00 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 30.06.11 Dividend…
  16. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 16
    Agenda C Company St t Structure Financial Matters and Values Shareholder matters Business Focus Competitors, Market, Prospects The Fleet and Employment Presentation August 25th 2011 CEO Karl-Johan Bakken CFO Torstein L.…
  17. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 17
    Farstad Shipping pp g - International competitive p position p backed by the Norwegian maritime cluster Values Business Focus z To be a leading provider of Safety minded qquality y Support pp Vessel Services to the…
  18. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 18
    Farstad Shipping pp g The Fleet August 2011 12 PSV lesund 2 SUBSEA Aberdeen 2 AHTS 2 PSV 3 AHTSSingapore Macae Rio 2 PSV 11 AHTS Perth 7 PSV Melbourne 16 AHTS
  19. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 19
    Farstad Shipping Renewal of the Fleet 19
  20. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 20
    Farstad Shipping Renewal of the Fleet 20
  21. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 21
    Contract Summary y AHTS/CSV August 2011 BOS VESSELS Year 2011 2012 2013 2014 2015 built 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q BOS TOPAZIO 2005 21 BOS TURMALINA 2006 BOS TURQUESA 2007
  22. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 22
    Contract Co t act Summary Su a y PSV SV August 2011 22
  23. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 23
    Farstad Shipping Contract Summary Fleet total A August t 2011 *) 81,7%**) 59,0%**) 40,8%**) 27,4%**) 20,2%**) **)) AHTS = 76,7% , 49,7% , 37,0% , 28,8% , 21,9% , **) PSV = 88,6% 71,2% 45,2% 25,7% 18,3% 23 *) Actual no…
  24. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 24
    pp g HSEQ Farstad Shipping Q LTIF - (No of incidents per mill. ill work khhours ) 14 12 10 8 6 4 2 0 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009…
  25. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 25
    Fl t Structure Fleet St t Supply S l Vessels V l Worldwide W ld id PSV2.000 PSV 2.000 dwt AHTS10.000 AHTS 10.000 bhp 675 vessels + 225 newbuilds (33%) 456 vessels+86 newbuilds (19%) DWT BHP Approx. pp 43% Approx.…
  26. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 26
    North Sea Fleet Supply- Demand- Utilisation 350 96 % 95 % 95 % 92 % 100 % 94 % 93 % 91 % 92 % 91 % 90 % 89 % 90 % 88 % 305 306 90 % 293 300 278 278 282 265 268 80 % 252 251 251 250 241 236 70 % 226 212 207 205 202 Boat-…
  27. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 27
    North Sea Fleet Supply- Demand- Utilisation 350 100,0% 95,0% 300 90,0% 250 85,0% 200 80,0% 75,0% 150 70,0% 100 65,0% 50 60,0% 0 55,0% Term demand Spot demand Fleet size Total utilisation % Term…
  28. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 28
    Worldwide semisubmersible market No of rigs E-Dec-12: 80 Total demand 190 rigs, Total supply 219 rigs, Marketed supply 200 rigs 70 60 50 40 30 20 10 0 NW Europe Asia Pacific N America C-S America West Africa…
  29. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 29
    North Sea PSV - Spot Market Source: Platou 29
  30. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 30
    North Sea AHTS - Spot Market Source: Platou 30
  31. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 31
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  32. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 32
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  33. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 33
    AHTS 10.000 BHP and PSV 2.000 DWT Worldwide sorted by owners/ managers No of vessels AHTS = 457 vessels PSV = 675 vessels Newbuilds = 311 vessels 140 Total fleet incl. newbuild counts 1443 vessels 147 owners. 120 The 43 largest…
  34. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 34
    AHTS 10.000 BHP and PSV 2.000 DWT Worldwide and the Northwest Europe *) PSV 2000 DWT AHTS 10.000 BHP No of vessels No of vessels 800 500 Other markets Northwest Europe Other markets Northwest Europe 700 450 400 600 350…
  35. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 35
    Newbuildings sorted by regions AHTS 10.000 10 000 BHP and PSV 2.000 2 000 DWT AHTS = 86 vessels PSV = 225 vessels Subsea=55 No of vessels 90 80 19 70 60 4 50 40 52 11 30 47 17 10 20 35 25 4 1 11 14 10 16 13…
  36. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 36
    Newbuildings sorted by deliverytime AHTS 10.000 BHP, PSV 2.000 DWT and Subsea Subsea (55 vessels)…
  37. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 37
    AHTS 10.000 BHP W ld id Fleet Worldwide Fl t Growth G th No of vessels No of vessels Increase in fleet Total fleet incl. Newbuilds Increase in fleet Total fleet incl. Newbuilds 600 600 546 551 541 543 527 533 503 500 500 443…
  38. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 38
    PSV 2.000 DWT Worldwide Fleet Growth No of vessels Increase in fleet Total fleet No of vessels Increase in fleet Total fleet 900 815 1000 899 900 803 882 893 800 749 900 829 664 800 730 700 575 664 700 600 575 501 600 501 500…
  39. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 39
    PSV 2.000 DWT Worldwide sorted by regions No of vessels Jan.-06 Jan.-07 jan.08 Jan.-09 Jan.-10 Jan.-11 July-11 250 200 187 191 179 171 168 158 150 139 135 128 123 123 120 112 105 103 101 97 100 88 82 81 77…
  40. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 40
    AHTS 10.000 BHP Worldwide sorted by regions No of vessels Jan.-06 Jan.-07 Jan.-08 Jan.-09 Jan.-10 Jan.-11 July 11 180 160 160 150 138 140 120 116 101 100 94 88 77 80 71 74 72 65 66 59 60 54 56 53 51 51 48…
  41. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 41
    Summary Oil price in positive territory. Steady growth in the market. Oversupply outweighing market growth. New build orders pushing back market recovery. Cost increase a challenge in certain regions. FS positioned for further…
  42. AUGUST 2011 CORPORATE PRESENTATION – Farstad Shipping Asa – slide 42
    Takk for oppmerksomheten pp Better by Far 42

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