Skip to main content Q1 2011 EARNINGS CALL – Siem Offshore Investor Presentation | Shale Experts
Loading...
Database
Slide Database

Q1 2011 EARNINGS CALL – Siem Offshore

Siem Offshore · May 10, 2011 · 24 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. Q1 2011 EARNINGS CALL – Siem Offshore – slide 1
    Earnings Presentation First Quarter 2011 CEO Terje Sorensen CFO Dagfinn Lie 10 May 2011
  2. Q1 2011 EARNINGS CALL – Siem Offshore – slide 2
    Highlights First Quarter 2011 High commercial and operatonal performance for the AHTS fleet. Contract award milestone achieved by winning contract for five vessels (two AHTS vessels and three PSV vessels) for the Capricorn drilling…
  3. Q1 2011 EARNINGS CALL – Siem Offshore – slide 3
    Subsequent Events Entered the business for submarine cable installation, repair and maintenance projects, through the acquisition of Five Ocean Services GmbH. Delivery of the eighth AHTS vessel, the Siem Amethyst, owned by the…
  4. Q1 2011 EARNINGS CALL – Siem Offshore – slide 4
    Income Statement Q1 Jan-Dec 2011 2010 2010 Amounts in USD million Unaudited Unaudited Audited Operating Revenue 68.9 49.8 228.3 Operating expenses ( 39.5) ( 31.8) (127.6) Administration expenses ( 7.6) ( 6.0) ( 26.0) Operating margin…
  5. Q1 2011 EARNINGS CALL – Siem Offshore – slide 5
    Operating Margin
  6. Q1 2011 EARNINGS CALL – Siem Offshore – slide 6
    Operating Margin Q1 Q1 2011 Q1 2010 Amounts in Operating Operating Operating Operating Operating Operating USD million revenue expenses margin revenue expenses margin PSV 23.4 ( 11.8) 11.7 20.4 ( 10.6) 9.8 MRSV 14.2 ( 6.4) 7.8 17.1 (…
  7. Q1 2011 EARNINGS CALL – Siem Offshore – slide 7
    Siem WIS Status Contiune to work with Statoil on the PCD for future MPD operations on the Gullfaks field in the North Sea. Successfully completed the qualification of the PCD system to applicable tests in the API 16RCD standard, as…
  8. Q1 2011 EARNINGS CALL – Siem Offshore – slide 8
    Five Oceans Services (FOS) Acquisition Rationale: Main Markets: Submarine Power Cable Installation market Standard energy market identified as a growing market Offshore oil and gas industry FOS offers solid engineering capabilities…
  9. Q1 2011 EARNINGS CALL – Siem Offshore – slide 9
    Associated Companies Amounts in USD million 31 March Result from assiciated companies 2011 2010 Overseas Drilling Ltd. (50%) 1.9 2.2 KS Big Orange XVlll (41.33%) 0.1 ( 0.2) Ocean Commander KS (35%) ( 1.7) 0.2 Other ( 0.1) ( 0.2) Total…
  10. Q1 2011 EARNINGS CALL – Siem Offshore – slide 10
    Financial Position and Cash Flow
  11. Q1 2011 EARNINGS CALL – Siem Offshore – slide 11
    Statement of Financial Position 31 March 31 March 31 December Amounts in USD million 2011 2010 2010 Unaudited Unaudited Audited Intangible assets 15.1 14.1 15.2 Vessels under construction 107.8 207.4 106.0 Vessels. equipment and other…
  12. Q1 2011 EARNINGS CALL – Siem Offshore – slide 12
    Future Yard Instalments Amounts in USD million Q2-2011 Q3-2011 Q4-2011 2012 2013 2014 Total Future yard instalments Total 101.2 9.8 7.4 80.8 65.3 0.0 264.4 Debt financing Q2-2011 Q3-2011 Q4-2011 2012 2013 2014 Total Total 94.5 7.3 8.0…
  13. Q1 2011 EARNINGS CALL – Siem Offshore – slide 13
    Employment and Deliveries Vessels in Operation and Shipbuilding Contracts
  14. Q1 2011 EARNINGS CALL – Siem Offshore – slide 14
    Vessels in Operation PSV Employment 2011 2012 2013 2014 2015 Owner- Vessel 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q ship Siem Sasha 100 % Siem Sophie 100 % Siem Louisa 100 % Siem Danis 100 % Siem Hanne 100 % Siddis…
  15. Q1 2011 EARNINGS CALL – Siem Offshore – slide 15
    Vessels in Operation AHTS and MRSV Employment 2011 2012 2013 2014 2015 Owner- Vessel 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q ship Siem Pearl 100 % Siem Emerald 100 % Siem Sapphire 100 % Siem Aquamarine 100 % Siem…
  16. Q1 2011 EARNINGS CALL – Siem Offshore – slide 16
    Vessels in Operation Other Employment 2011 2012 2013 2014 2015 Owner- Vessel Type 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q ship Big Orange WSV 41 % XVIII Joides SPV 50 % Resolution Total order backlog in %…
  17. Q1 2011 EARNINGS CALL – Siem Offshore – slide 17
    Shipbuilding Contracts Vessel Deliveries 2011 2012 2013 2014 2015 Owner- Vessel Type 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q ship Siem Amethyst AHTS 100 % Contract USD 23 million Siem Caets FSV 100 % Siem Carajs…
  18. Q1 2011 EARNINGS CALL – Siem Offshore – slide 18
    Market outlook
  19. Q1 2011 EARNINGS CALL – Siem Offshore – slide 19
    Market Outlook The North Sea spot market improved gradually in 1Q11, and 2Q11 started off on a strong note compared with levels at the beginning of the year. Large AHTS vessels with dayrates of around NOK 300,000 and PSVs above NOK…
  20. Q1 2011 EARNINGS CALL – Siem Offshore – slide 20
    Global Rig and FPSO Market Global Drilling Market Global FPSO market * = Ultra Deep Water (UDW) Total UDW Drilling rigs currently working at 60, up from 44 twelve months ago (-12M). Total North Sea Floater Rigs currently…
  21. Q1 2011 EARNINGS CALL – Siem Offshore – slide 21
    OSV Market North Sea AHTS Fleet Global Term Demand PSV/AHTS* 2008 2009 2010 1Q11 2Q11 Number of AHTS 15,000 BHP working in the Global Term demand for High-End OSVs North Sea increased in 2009-2010 with continues to increase,…
  22. Q1 2011 EARNINGS CALL – Siem Offshore – slide 22
    73 UDW Drilling Rigs under construction Rig Name Construction Status Rig Name Construction Status Rig Name Construction Status 1 Aker Drsh Tbn1 On Order 25 Hai Yang Shi You 981 Under Construction 49 Pacific Sharav On Order 2 Aker…
  23. Q1 2011 EARNINGS CALL – Siem Offshore – slide 23
    Appendix 23
  24. Q1 2011 EARNINGS CALL – Siem Offshore – slide 24
    Consolidated Statement of Cash Flows Amounts in USD million 31.12.2011 31.12.2010 31.12.2010 Cash flow from operations Unaudited Unaudited Audited Profit /(loss) before taxes, excluding interest 6.5 -7.1 23.7 Depreciation and amortization…

From the store

Browse maps, data & reports in the Shale Experts store