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DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited

Mermaid Maritime Public Company Limited · Dec 2, 2014 · 41 slides

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Slides

  1. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 1
    Mermaid Maritime Plc. Mermaid Maritime Plc Mermaid Maritime Plc. Corporate Presentation FY2014 Analyst Briefing & Shareholders Forum FY2014 A l t B i fi & Sh h ld F Singapore, 2 December 2014 Delivering a world class…
  2. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 2
    Mermaid Maritime Plc. Agenda 1 1. M Mermaid Business Overview id B i O i 2. Market Outlook 3. Subsea Services 4. Drilling Services 4. Drilling Services 5. Financial Review & Order Book 6. Summary…
  3. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 3
    Mermaid Maritime Plc. Agenda 1. Mermaid Business Overview www.mermaidmaritime.com 4
  4. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 4
    Mermaid Maritime Plc. Who We Are & Our Leadership We are one of the worlds largest offshore oil and gas diving services companies Mr. Prasert Bunsumpun Chairman of the Board Over 30 years experience in the offshore oil and gas…
  5. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 5
    Mermaid Maritime Plc. Mermaid Business Summary 31 5 1000+ years since Mermaid regions which skilled divers, crew, Maritimes Mermaid technicians, support establishment operates service providers & service providers &…
  6. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 6
    Mermaid Maritime Plc. Mermaids Industry Positioning Specialist below the water segment where barriers to entry are high Oil & Gas Shallow Upstream Offshore Production Sub Surface Industry Water Dualportfolio essential service…
  7. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 7
    Mermaid Maritime Plc. Mermaids Sweet Spot Vessel Owners Vessel Owners Subsea Service Providers Subsea Service Providers Subsea EPIC Asset intensive Asset & service mix Project management Day rate revenue model Day rate &…
  8. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 8
    Mermaid Maritime Plc. A Member of the PM & Thoresen Group of Companies Corporate Chart Thoresen Thai PM Groups Agencies Plc. (Group Holdings) Thoresen Shipping Unique Mining PM Thorsen Asia Mermaid Maritime Plc. Singapore…
  9. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 9
    Mermaid Maritime Plc. Board Members & Key Executives Board Members * Mr. Joseph Chia Dr. Jean Paul Thevenin Mr. Ng Cher Yan Mr. Joachim Toh Dr. Jan Skorupa Executive Director NonExecutive Director Independent Director…
  10. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 10
    Mermaid Maritime Plc. High Quality Customer Base www.mermaidmaritime.com 11
  11. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 11
    Mermaid Maritime Plc. Commitment to Customers Track record of Strategic local Excellent health, Fully compliant successful projects partnerships in safety and with international with reputable various geographies environment…
  12. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 12
    Mermaid Maritime Plc. FY2014 Business Highlights Corporate Actions Delivered FY2014 net profit Best FYE2014 results in Mermaids history of USD 45.3 million (3x increase from FY2013) Drive focus on bottom line results across the…
  13. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 13
    Mermaid Maritime Plc. Agenda 2. Market Outlook www.mermaidmaritime.com 14
  14. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 14
    Mermaid Maritime Plc. Population and income growth will drive long term demand... By y 2030 world p population p is World income in 2030 is expected p Due to rapid p industrialization, projected at 8.3 billion which to…
  15. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 15
    Mermaid Maritime Plc. with oil and gas still dominating the energy market Primary energy demand is Industry, residential and services Renewable energy use will grow expected to increase and the remains dominant source of but oil…
  16. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 16
    Mermaid Maritime Plc. Recent weakness in oil prices still above most hurdle rates Oil prices have recently fallen from June 2014 peak. Prices remain above most minimum rate of returns (hurdle rates) of oil and gas majors on…
  17. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 17
    Mermaid Maritime Plc. Shifting focus to production and subsea expected In the nearterm, production side of E&P spending is expected to be less affected compared to exploration side activities. After the exploration boom in…
  18. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 18
    Mermaid Maritime Plc. and into shallow water plays with lower break even costs Europe 21% 5% North US153 b America 14% 7% US91 b 21% 58% 81% 14% 79% 11% Asia 10% US143 b 79% 14% 15% 71% 29% 28% 27% Middle East…
  19. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 19
    Mermaid Maritime Plc. Tender rigs continue to have their niche Young fleet enjoy 100% utilization fleet enjoy 100% utilization Long term contracts offer stable earnings Long term contracts offer stable earnings Tender rigs…
  20. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 20
    Mermaid Maritime Plc. Newer jackups worked by seasoned operators should do well 55% of global jackup fleet is above 25 More older jackup rigs than newer ones years with customers preferring new. g concentration of older jjackups…
  21. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 21
    Mermaid Maritime Plc. Agenda 3. Subsea Services www.mermaidmaritime.com 22
  22. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 22
    Mermaid Maritime Plc. Mermaids subsea fleet has built a strong reputation Mermaid Endurer DP2 Dive Support Vessel (Built in 2010) 18man saturation diving system plus air diving & ROVs Specially designed for harsh weather conditions…
  23. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 23
    Mermaid Maritime Plc. offering a suite of vessels to meet customer requirements Mermaid Sapphire DP2 ROV & Air Dive Support Vessel (Built in 2009) Specially modified for IRM capability, construction support and survey Built up track…
  24. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 24
    Mermaid Maritime Plc. Charterin vessels added to boost up Middle East demand Mubarak Supporter DP2 Construction Barge (Built in 2014) Custom built for subsea cable lay and flexible pipe lay support Equipped with a 250mT crane and 8…
  25. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 25
    Mermaid Maritime Plc. and supporting continual growth in South East Asia Mermaid Nusantara DP2 Dive Support Vessel (Built in 2010) 15man saturation diving system plus air diving system, ROVs Equipped with 50mT subsea crane, crane…
  26. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 26
    Mermaid Maritime Plc. by delivering an essential service to oil and gas majors Under Construction Mermaid Ausana Subsea Dive Support & Construction Vessel (Delivery 2016) 18man 18 man twin saturation diving system, ROV and…
  27. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 27
    Mermaid Maritime Plc. Agenda 4. Drilling Services www.mermaidmaritime.com 28
  28. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 28
    Mermaid Maritime Plc. Mermaids tender rig upgrades proceeding as planned Tender Rigs (Existing) MTR1 Barge MTR2 Tender Drilling Rig Accommodation Barge & Tender Rig Both rigs have established track record MTR1 suitable for…
  29. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 29
    Mermaid Maritime Plc. with AOD jackups remaining a stable long term investment AOD I Jackup Rig* AOD II Jackup Rig* AOD III Jackup Rig* High Specification JackUp Rigs Built and delivered in 2013 from Keppel FELS yard in…
  30. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 30
    Mermaid Maritime Plc. Agenda 5. Financial Review & Order Book www.mermaidmaritime.com 31
  31. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 31
    Mermaid Maritime Plc. FY2014 Financial Highlights FY2013 FY2014 Year on Year Comparison Cash & Cash Equivalents 148.8 55.8 Cash deployed to fund new build Shortterm Deposits 0.0 25.0 initial payments & Restricted Deposits at…
  32. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 32
    Mermaid Maritime Plc. FY2014 Sector Breakdown All units in USD millions Not to scale. For illustrative purpose only. www.mermaidmaritime.com 33
  33. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 33
    Mermaid Maritime Plc. FY2014 Associate Performance : Asia Offshore Drilling All units in USD millions FY2013 Service Income Net Profit Net Profit Utilization FY2014 Margin Rate 220.9 94% 94% 91.1 41% AOD* 38% 49.2 14.5…
  34. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 34
    Mermaid Maritime Plc. Sector Order Book* Overall USD 470 Million* * Order book from 1 October 2014 not including AOD prorata contribution of an additional USD 110 million (USD 580 million total) Subsea Drilling…
  35. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 35
    Mermaid Maritime Plc. Mermaid Group Statement of Financial Position USD FY2012 FY2013 FY2014 30 Sept 2012 30 Sept 2013 30 Sept 2014 Cash & Equivalents + Short term deposit 62.3 148.8 80.9 Current Assets 136 5 136.5 267 0…
  36. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 36
    Mermaid Maritime Plc. Debt Structure Units in USD millions Loan Maturity Gross D/E (Times) Low D/E ratio < 1 year < 1 year allows financial flexibility 0.35 0.33 0.26 0.21 1 year 1 year 2013 2014 FY2011 FY2012 FY2013…
  37. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 37
    Mermaid Maritime Plc. Group Profit and Loss Highlights 1 Fiscal year ended 30 September 2 Net profit attributable to owners of the parent 3 Gross profit included depreciation & amortization www.mermaidmaritime.com 38
  38. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 38
    Mermaid Maritime Plc. Group Balance Sheet Highlights Growing Assets Uptrending Financially Disciplined www.mermaidmaritime.com 39
  39. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 39
    Mermaid Maritime Plc. Group Financial Ratios Room for Fund Raising Sustainable Interest Coverage www.mermaidmaritime.com 40
  40. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 40
    Mermaid Maritime Plc. Agenda 6. Summary www.mermaidmaritime.com 41
  41. DECEMBER 2014 CORPORATE PRESENTATION – Mermaid Maritime Public Company Limited – slide 41
    Mermaid Maritime Plc. Mermaids Key Investment Highlights www.mermaidmaritime.com 42

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