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Q4 2013 EARNINGS CALL – Era Helicopters

Era Helicopters · Mar 18, 2014 · 20 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. Q4 2013 EARNINGS CALL – Era Helicopters – slide 1
    Exhibit 99.2 Q4 and Full Year 2013 Earnings Presentation March 18, 2014 0
  2. Q4 2013 EARNINGS CALL – Era Helicopters – slide 2
    Q4 and Full Year 2013 Earnings Call Agenda I. Introduction Chris Bradshaw, EVP and CFO II. Operational Highlights Sten Gustafson, Chief Executive Officer III. Financial Review Chris Bradshaw, EVP and CFO IV. Closing Remarks Sten…
  3. Q4 2013 EARNINGS CALL – Era Helicopters – slide 3
    NonGAAP Financial Measures Reconciliation This presentation includes EBITDA and Adjusted EBITDA as supplemental measures of the Companys operating performance. EBITDA is defined as Earnings before Interest (includes interest income,…
  4. Q4 2013 EARNINGS CALL – Era Helicopters – slide 4
    Operational Highlights 4
  5. Q4 2013 EARNINGS CALL – Era Helicopters – slide 5
    Full Year 2013 Highlights Record operating revenues of 299.0mm represent a 10% increase over full year 2012 Total increase of 26.0mm primarily due to higher utilization of medium helicopters related to an increase in oil & gas…
  6. Q4 2013 EARNINGS CALL – Era Helicopters – slide 6
    Q4 2013 Highlights Compared to Prior Year Quarter Record Q4 operating revenues of 76.0mm represent a 7% increase over the prior year quarter Total increase of 5.1mm primarily due to the EC225 helicopters resuming operations, increased…
  7. Q4 2013 EARNINGS CALL – Era Helicopters – slide 7
    Oil and Gas Q4 operating revenues from oil and gas activities of 53.6mm 25% increase from Q4 2012 4% decrease from Q3 2013 due to seasonality in Alaska U.S. Gulf of Mexico operating revenues of 45.5mm 25% increase from prior year…
  8. Q4 2013 EARNINGS CALL – Era Helicopters – slide 8
    Other Service Lines Dry-leasing revenues of 11.6mm in Q4 2013 38% decrease from Q4 2012 primarily due to the timing of cash receipts from Aerleo and our customer in India and to contract-leases that have ended since the prior year…
  9. Q4 2013 EARNINGS CALL – Era Helicopters – slide 9
    Helicopter Order and Options Book Remaining Amount Delivery Class Type Number Firm Cancellable Current Order Book 2014 Medium AW139 2 18.9 2014 Heavy AW189 3 42.6 2015 Heavy AW189 2 33.6 2016 Heavy AW189 3 51.4 2016 Heavy…
  10. Q4 2013 EARNINGS CALL – Era Helicopters – slide 10
    Financial Review 10
  11. Q4 2013 EARNINGS CALL – Era Helicopters – slide 11
    Period Over Period Comparison Full Year Twelve Months Ended December 31, 2013 2012 Change % Variance (000s) Operating revenues 298,959 272,921 26,038 10% Operating expenses 186,612 167,195 19,417 (12%) G&A expenses 38,924 34,785…
  12. Q4 2013 EARNINGS CALL – Era Helicopters – slide 12
    Period Over Period Comparison 4th Quarter Three Months Ended December 31, 2013 2012 Change % Variance (000s) Operating revenues 75,998 70,895 5,103 7% Operating expenses 45,213 42,282 2,931 (7%) G&A expenses 10,562 7,575 2,987…
  13. Q4 2013 EARNINGS CALL – Era Helicopters – slide 13
    Sequential Quarter Comparison Three Months Ended 31Dec 30Sep Change % Variance (000s) Operating revenues 75,998 80,997 (4,999) (6%) Operating expenses 45,213 51,338 (6,125) 12% G&A expenses 10,562 9,683 879 (9%) Depreciation…
  14. Q4 2013 EARNINGS CALL – Era Helicopters – slide 14
    Capitalization and Financial Policy December 31, 2013 (000s) Era continues to generate substantial free cash flow Cash and cash equivalents 31,335 Flexibility to fund growth via organic and Revolving credit facility 55,000 strategic…
  15. Q4 2013 EARNINGS CALL – Era Helicopters – slide 15
    Net Asset Value 50 45 40 35 30 25 20 15 22-Jan 22-Feb 22-Mar 22-Apr 22-May 22-Jun 22-Jul 22-Aug 22-Sep 22-Oct 22-Nov 22-Dec 22-Jan 22-Feb NAV per Share (excl. deferred taxes) Stock Price NAV per Share (net of…
  16. Q4 2013 EARNINGS CALL – Era Helicopters – slide 16
    Appendix 16
  17. Q4 2013 EARNINGS CALL – Era Helicopters – slide 17
    Fleet Overview Joint Average Owned Ventured Leased-In Managed Total Age(1) Heavy: EC225 9 9 4 Total Heavy 9 9 Medium: AW139 34 1 35 4 Bell 212 11 11 35 Bell 412 6 6 32 S76 A/A++ 3 3 27 S76 C+/C++ 5 1 6 7 Total Medium 59 1 1…
  18. Q4 2013 EARNINGS CALL – Era Helicopters – slide 18
    NAV per Share Calculation (as of 12/31/13) (in million, except share data) + FMV of Helicopters 917 + NBV of Other PP&E 129 + Working Capital 75 + Other Net Tangible Assets 46 Longterm Debt (279) Deferred Taxes (210) Net Asset…
  19. Q4 2013 EARNINGS CALL – Era Helicopters – slide 19
    Financial Highlights Fiscal Year ( millions) 2008 2009 2010 2011 2012 2013 Q4 '13 Q4 '12 Revenue 248.6 235.7 235.4 258.1 272.9 299.0 76.0 70.9 Operating Expenses 181.5 148.0 147.2 162.7 167.2 186.6 45.2 42.3 G&A 20.1 21.4 25.8 31.9…
  20. Q4 2013 EARNINGS CALL – Era Helicopters – slide 20
    Reconciliation of Non-GAAP Financial Measures Historically, SEACOR charged its corporate costs and overhead charges to all of its operating divisions These charges have been excluded from Adjusted EBITDA to more accurately reflect Eras…

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