Lamprell plc Preliminary Results Presentation 26 March 2012 3/26/2012
Lamprell plc Agenda Financial highlights MIS acquisition update Operational highlights Historical growth Group strategy and markets Financial review Conclusion Appendices 2
Lamprell plc Financial highlights 3
Lamprell plc Financial highlights Revenue increased to 1,148m; an increase of 128% Adjusted operating profit 90.2m (post exceptional charges Revenue 1,148m 79.6m); an increase of 29.8% Adjusted net profit 73.8m (post exceptional…
Lamprell plc MIS acquisition update 5
Lamprell plc MIS acquisition update Key milestones 1 Sale of Hull 108 to Pemsa 2 Delivery of Hull 106 to Meju (onsale to Pemsa) and JV exit in progress 3 Resolution of legal dispute 4 Exit of KSAM II JV in progress Total cash…
Lamprell plc MIS acquisition update - integration Focus area Status Remarks Organisation structure Completed 100 Sharjah facility Completed 100 Marketing and business Completed development 100 Core IT systems In progress…
Lamprell plc Operational highlights 8
Lamprell plc Operational highlights Transformational year with the successful acquisition of MIS in July New contract New contract awards in the period amounting to 1,098m Order book awards 1,215m Order book at year-end record…
Lamprell plc New contract awards in 2011 700 5 New build jackup awards in 2011: New contract awards 1,098m 2 for National Drilling Company (Abu Dhabi) 600 Greatship 500 Jindal Perforadora Mexico 400 14,000 tonne wellhead deck…
Lamprell plc Year-end record order book Order book 1,215m key clients 900 Order book 1,215m National Drilling Company 800 Eurasia Drilling Company 700 Fred. Olsen Windcarrier Seajacks 600 Greatship Global Energy Services 500…
Lamprell plc Bid pipeline at Feb 2012 Key bid activity includes 2 Bid pipeline 5,239m 1.8 New build jackups 1.6 Offshore platforms 1.4 Liftboats 1.2 New build land rigs 1 0.8 Pressure vessels 0.6 E&C projects 0.4 0.2 0…
Lamprell plc Historic growth from 2003 to 2011 1400 Revenue m Revenue has increased from 70.4m in 2003 to 1,147.9m in 2011, represents a compound annual growth rate of 42% 1200 1000 Adjusted EBITDA has increased from 7.9m in 2003…
Lamprell plc Group strategy and markets 15
Lamprell plc Our key medium term strategic objectives Medium term strategic objectives Vertical structure and capability enhancement Complete the transition to a turnkey E&C provider aligned to our clients needs throughout the…
Lamprell plc Upstream offshore - markets E&P spending development The market Modern jackup utilisation at 97%* Strong market fundamentals drive future orders Focus on modern rigs post-Macondo Demand for larger and more complex…
Lamprell plc Upstream offshore current position Current position Global leader in new build jackup rigs…
Lamprell plc Onshore - markets The market Kingdom of Saudi Arabia Rig count set to increase substantially over the next 5 years Upstream Northern and southern Iraq Upstream Significant growth forecast in both Iraqi territories,…
Lamprell plc Renewable energy - markets Wind farm investment The market 12 10 Installation vessel demand 8 EUR bn's Demand is forecast to remain at ca. 50 units by 2020 6 4 Demand for offshore transformers 2 Volumes…
Lamprell plc Financial review 21
Lamprell plc Financial Review summary P&L 1,148 128% increase in revenue to 1,147.9m (2010: 503.8m) primarily Revenue ( m) driven by new build activity 504 426 New build activity accounted for 69% (2010: 41%) of total revenue.…
Lamprell plc Financial Review balance sheet Total non-current assets increased to 417m 2010 2011 driven by: Balance Sheet m m 62m increase in plant, property and equipment; 228m increase in identified intangible Non current assets…
Lamprell plc Financial Review cash flow Net cash outflow from operations of 55m (2010: 2010 m 2011 m 233m inflow) Net earnings 66.6 63.5 Depreciation & amortisation 13.8 23.2 Prior to working capital movements the net inflow Working…
Lamprell plc Conclusion Successful year Record contract awards totalling 1,098m Year end order book of 1,215m Transformational acquisition of MIS consolidated position as leading player in the Middle East region Key post…
Lamprell plc Appendices 26
Lamprell plc Dividend history Year Period Cents 2006 Final 3.80c 2007 Interim 5.00c 2007 Final 12.25c 2008 Interim 6.40c 2008 Final 3.15c 2009 Final 3.80c 2010 Interim 3.80c 2010 Final 9.50c 2011 Interim 4.00c 2011 Final…
Lamprell plc Enlarged Group capacity 28
Lamprell plc Facilities 29
Lamprell plc Services Service Description Geographies Provision of inspection services for heat treatment, non-destructive testing, Across the Middle Inspection mechanical testing, chemical analysis and calibration services East…
Lamprell plc Historical development Entry to new build jackup market Delivered Established First jackup rig Jebel Ali Entry to liftboats first in Dubai refurbishment facility market liftboat 1974 1989 1992 1996 2002 2006 2007…
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