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Q4 2012 EARNINGS CALL – Deep Sea Supply Plc

Deep Sea Supply Plc · Feb 27, 2013 · 22 slides

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Slides

  1. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 1
    4Q12 Deep Sea Supply Plc Presentation 27 February 2013
  2. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 2
    HIGHLIGHTS 4Q12 Announcing joint venture in Brazil Increased revenue, but soft North Sea spot market and late commencement Sea Brasil New long term contracts in Asia New medium term contracts in Brazil 3
  3. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 3
    SHARE PRICE DEVELOPMENT AND SHARE TURNOVER Share price and total return since listing 2012 average monthly volume and turnover velocity Close Price Total Return 40 0,04 50 Average monthly volume in NOK million (light blue…
  4. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 4
    INCOME STATEMENT 4Q 2012 4Q12 (Unaudited figures in USD 1,000) 4Q 2012 4Q 2011 3Q 2012 Operating revenue 38 934 32 115 35 457 Vessel operating expenses (20 065) (16 123) (16 913) Other operating expenses (3 496) (3 273) (2 681) Other…
  5. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 5
    INCOME STATEMENT 2012 4Q12 (Unaudited figures in USD 1,000) YTD 2012 YTD 2011 Operating revenue 124 140 115 902 Vessel operating expenses (66 345) (72 124) Operating lease 0 (1 684) Other operating expenses (12 356) (10 911) Other gains…
  6. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 6
    REVENUE AND EBITDA DEVELOPMENT 2012 4Q12 Development per quarter (Figures in USD 1,000) 40 000 38 934 35 457 32 500 28 339 25 000 21 411 Operating Revenue EBITDA 17 500 10 000 2 500 Q1 Q2 Q3 Q4 7
  7. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 7
    AREA OF CURRENT OPERATION Office PSV AHTS 8
  8. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 8
    CASH FLOW STATEMENT 4Q12 (Unaudited figures in USD 1,000) YTD 2012 YTD 2011 Cash flows from operating activities Cash generated from operations 47 985 16 725 Net cash generated from operations 47 985 16 725 Cash flows from investing…
  9. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 9
    BALANCE SHEET 3Q11 (Unaudited figures in USD 1,000) 31.12.2012 31.12.2011 (Unaudited figures in USD 1,000) 31.12.2012 31.12.2011 Non-current assets Liabilities Vessels cost 638 977 554 935 Borrowings 468 579 403 299 CIRR loan 35 509 37…
  10. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 10
    SHAREHOLDERS 4Q12 The largest shareholders as per 21st February 2013 registered in VPS Citizen No. of shares: % HEMEN HOLDING LIMITED CYP 44 583 853 35,05% SKAGEN KON-TIKI NOR 12 229 431 9,61% PERESTROIKA AS NOR 5 453 897 4,29% DNB NOR…
  11. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 11
    CONTRACT BACKLOG 4Q12 Contract Backlog Deep Sea Supply Fleet as per Feb 2013* Vessel Type Vessels on Term Contracts as of 01.02.13 Contract backlog AHTS 10 of 14 Vessels USD 200M PSV 9 of 9 Vessels USD 127M Total 19 of 23 Vessels USD…
  12. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 12
    FLEET LIST & CHARTER STATUS AS PER FEBRUARY 2013 Vessel Type Bhp/Dwt Year Built Trading Area 2013 2014 AHTS Vessels Q1 Q2 Q3 Q4 Sea Lynx KMAR 404 15000 BHP 1999 North Sea North Sea Spot Sea Bear KMAR 404 15000 BHP 1999 Brazil/North…
  13. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 13
    AGE DISTRIBUTION CURRENT FLEET AND ORDER BOOK AHTS PSV Vessel 20 years: 27,7 % of total fleet Vessel 20 years: 20,1% of total fleet Vessel 30 years: 14,9 % of total fleet Vessel 30 years: 13% of total fleet 300 250 200 No…
  14. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 14
    AHTS AHTS PSV PSV THE RIG AND SUPPLY MARKET 800 800 700 700 691 691 600 600 500 500 425 425 400 400 Current OSV & Rig fleet 300 300 200 200…
  15. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 15
    SELLING 50% OF BRAZILIAN BUSINESS TO BTG PACTUAL 16
  16. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 16
    BTG PACTUAL 4Q12 One of the largest investment banks in Latin America Listed on stock exchange in Sao Paulo and Amsterdam More than USD 95 bn under Asset/Wealth Management Represents 30% of shareholders in Sete Brasil 17
  17. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 17
    THE TRANSACTION 4Q12 Selling 50% of DESS Brazilian business to BTG Pactual EV = USD 578M Buying 6 newbuild large PSVs EV = USD 274M Equity injection as working capital USD 48M 50% from each of the partners 18
  18. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 18
    THE BRAZILIAN BUSINESS 4Q12 Deep Sea Supply Navegao Martima Ltd Deep Sea Supply Servios Martimos Ltd 15 AHTS & PSVs operating in Brazil: AHTS PSV Sea Panther Sea Halibut Sea Leopard Sea Bass Sea Tiger Sea Pollock Sea Cheetah Sea…
  19. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 19
    THE TRANSACTION 4Q12 Brazil The Brazilian business Management Board agreements AHTS + PSVs 20
  20. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 20
    STRATEGIC RATIONALE 4Q12 Local experience and know how Increased local content 3rd largest OSV company in Brazil Seeking further growth opportunities 21
  21. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 21
    DESS AFTER ESTABLISHMENT OF JV 4Q12 Modern fleet of 9 vessels with good contract coverage AHTS PSV Sea Lynx Sea Trout Sea Bear Sea Angler Sea Ocelot Sea Witch Sea Eagle 1 Sea Badger Sea Weasel Africa, Asia and North Sea the…
  22. Q4 2012 EARNINGS CALL – Deep Sea Supply Plc – slide 22
    presis 360 COMPANY ADDRESSES Cyprus Deep Sea Supply Plc John Kennedy Ave., Iris House, 7th Floor, Office no.740B Limassol 3100 Cyprus Deep Sea Supply Management (Cyprus) Ltd P.O.Box 53340 CY-3302 Limassol Cyprus Norway Deep Sea…

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