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Q4 2011 EARNINGS CALL – Bonheur Asa

Bonheur Asa · Feb 23, 2012 · 36 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 2011 EARNINGS CALL – Bonheur Asa – slide 1
    4th quarter 2011 and preliminary result 2011 23rd February 2012 1
  2. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 2
    Business segments as of 23rd February 2012 62.1% Bonheur ASA Ganger Rolf ASA (listed OSE) (listed OSE) 20.7% Offshore drilling Floating production Renewable energy Cruise Shipping / Offshore wind Other investments 53.4% 61.5%…
  3. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 3
    Bonheur ASA - Highlights 4Q 11 (4Q 10 in brackets) Operating revenues were NOK 2 620 million (NOK 2 480 million) Operating result before depreciation (EBITDA) was NOK 1 186 million (NOK 954 million)) Operating profit (EBIT) was…
  4. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 4
    Bonheur ASA - Group of companies C Consolidated lid t d summary (NOK million) 4Q 11 4Q 10 2011 2010 Revenues 2 620 2 479 9 884 9 341 EBITDA 1 186 954 4 317 4 154 EBIT 544 446 2 216 2 173 Share of result from associates -5 -3…
  5. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 5
    Bonheur ASA - Group of Companies Segment analysis EBITDA NOK million EBITDA 4Q11 4Q10 Change Offshore Drilling 889 744 145 Floating Production 78 66 12 Renewable Energy gy 148 93 55 Cruise 38 41 -4 Shipping 77 77 0 Other -44 -68 24…
  6. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 6
    Bonheur ASA Group of companies Condensed statement of Financial Position (NOK million) 31.12 30.09 31.12 30.09 2011 2011 2011 2011 Intangible fixed assets 255 227 Equity owned by shareholders in parent co. 6 726 6 553 Deferred tax…
  7. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 7
    Bonheur ASA Group of companies C h flow Cash fl statement (NOK million) 2011 2010 Net cash flow from operating activities 2 615 3 331 Net cash flow from investing activities -2 207 -2 966 Net cash flow from financing activities -1…
  8. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 8
    Ganger Rolf ASA - Highlights 4Q 11 (4Q 10 in brackets) Net result after tax was negative NOK 40 million (NOK 146 million) Earnings per share were negative NOK 1.20 (NOK 4.30) Bonheur h ASA successfully f ll completed l d NOK…
  9. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 9
    Ganger Rolf ASA - Group of companies C Consolidated lid t d summary NOK million 4Q 11 4Q 10 2011 2010 Revenues 2 2 9 10 EBITDA -14 14 -8 8 -73 73 -30 30 EBIT -14 -9 -76 -33 Share of net result from associates 109 171 499 396…
  10. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 10
    Ganger Rolf ASA - Group of companies S Segment t analysis l i - Net N t result lt NOK million Net result per segment 4Q 11 4Q 10 Change Offshore Drilling 147 109 38 Floating Production -69 2 -71 Renewable Energy 6 34 -28 Cruise…
  11. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 11
    Ganger Rolf ASA Group of companies C d Condensed d statement off Financial Fi i l Position P ii NOK million 31.12 30.09 NOK million 31.12 30.09 2011 2011 2011 2011 Deferred tax asset 42 38 Total equity 5 161 5 034 Property,…
  12. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 12
    Fred Olsen Energy ASA Fred. Semi-submersible rig Bideford Dolphin 12
  13. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 13
    Fred. Olsen Energy Highlights 4Q 11 (4Q 10 in brackets) Revenues were NOK 1 682 million (NOK 1 531 million) EBITDA were NOK 889 million (NOK 744 million) Operating profit (EBIT) was NOK 542 million (NOK 413 million) Profit f…
  14. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 14
    Fred. Olsen Energy Operating worldwide Bideford g Borgland Bredford Byford Borgsten Borgholm Belford Borgny Blackford 14
  15. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 15
    Fred. Olsen Energy Contract schedule as per 23rd February 2012 2011 2012 2013 2014 2015 2016 2017 Belford Anadarko Anadarko Blackford Reliance 1) 2) 3)) Bideford Statoil Borgland Consortium Bredford Lundin 4) Lundin Borgny…
  16. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 16
    Fred. Olsen Energy Key financials Acc pper qquarter 4 NOK mill Revenues EBITDA EBIT (NOK million) 2011 2010 1800 Revenues 6 470,9 6 018,6 EBITDA 3 540,7 3 400,6 1600 EBIT 2 264,6 2 179,1 1400 EBT 2 107 107,22 2 008 008,66…
  17. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 17
    Fred Olsen Production ASA Fred. FPSO Knock Allan 17
  18. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 18
    Fred. Olsen Production Highlights 4Q 11 (4Q 10 in brackets) Operating revenues for the quarter were USD 27.8 million (USD 28.6 million) and USD 109.2 million for the year (USD 116.8 million) 4th quarter EBITDA was USD 13.5…
  19. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 19
    Fred. Olsen Production Contract status per 23rd February 2012 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Petrolo Nautipa Vaalco - Gabon 2y option Knock Adoon Addax Petroleum - Nigeria 8y option…
  20. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 20
    Fred. Olsen Production Key financials Revenues EBITDA EBIT Acc per quarter 4 NOK mill 200 (NOK million) 2011 2010 Revenues 619,0 706,4 150 EBITDA 245,4 321,8 EBIT -70,8 55,7 100 EBT -115,7 -9,9 N Non-current t assets t 1 900…
  21. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 21
    Fred Olsen Renewables AS Fred. Windfarm Pauls Hill, Scotland 21
  22. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 22
    Fred. Olsen Renewables Overview Four windfarms in Scotland (315.5 MW) and two in Sweden (7.2 MW) in operation during the quarter (Kiaby from November). Kiaby (6 MW): Commenced its first generation in November, and will be in full…
  23. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 23
    Fred. Olsen Renewables Project Portfolio wind power Site Investigation Development Consented Construction Operation Scotland Scotland 40-50 MW Scotland Norway Scotland Crystal Rig III Mid Hill 75 MW Lista 71 MW Crystal Rig 62.5 MW…
  24. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 24
    Fred. Olsen Renewables Projects in Scandinavia Laksefjorden L k fj d - 100 MW Digermulen - 100 MW Kvalsund 150 MW Mosjen 315 MW Verkanliden 25 MW Kalvvatnan 216 MW Verkanliden II 75 MW Fbodliden 150 MW Hgaliden 170 MW…
  25. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 25
    Fred. Olsen Renewables Projects in the UK and Ireland Rothes 50.6 50 6 MW Pauls Hill 64.4 MW Rothes II 45 MW Mid Hill 75 MW Crystal Rig 62.5 MW Crystal Rig II 138 MW Brockloch Rig 90 MW (50% owned) The Green House…
  26. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 26
    Fred. Olsen Renewables Significant producer of renewable electricity Historical energy production 6 month periods 500 450 836 GWh produced in 400 2011. 350 Crystal Rig II commenced 300 generation mid 2010. GWh 250…
  27. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 27
    Fred. Olsen Renewables Key financials Acc per quarter 4 NOK mill Revenues EBITDA EBIT (NOK million) 2011 2010 200 Revenues 569,5 373,3 180 EBITDA 405,4 220,3 EBIT 215,3 71,8 160 EBT -11,7 -98,2 140 N Non-currentt assets t 2 453…
  28. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 28
    Fred Olsen Cruise Lines Fred. Cruise ship MV Balmoral 28
  29. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 29
    Fred. Olsen Cruise Lines Overview Owned and operated four cruise ships during 4Q 2011; MV Black Watch, MV Braemar, MV Boudicca, MV Balmoral Higher prices on fuel- and bunker oil impacted the result negatively 29
  30. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 30
    Fred. Olsen Cruise Lines Key financials NOK mill Acc per quarter 4 480 Revenues EBITDA EBIT (NOK million) 2011 2010 430 R Revenues 1 686 686,55 1 684684,44 EBITDA 234,1 269,5 380 EBIT 4,0 45,8 330 EBT -59,8 -69,1 Non current assets…
  31. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 31
    Shipping / Offshore wind Suezmax tanker Knock Clune 31
  32. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 32
    Shipping / Offshore wind Overview Ownership of 2 suezmax vessels (Knock Sheen and Knock Clune) and 1 reefer vessel. In November 2011 an arbitration tribunal awarded in favor of First Olsen regarding the dispute with NAT on delivery…
  33. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 33
    Shipping / Offshore wind Brave Tern 33
  34. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 34
    Shipping / Offshore wind Brave Tern 34
  35. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 35
    Other investments GenoMar AS (86.5%) GenoMar AS is a life science aquaculture company focusing on breeding the white fish Tilapia Operations mainly in the Far-East Far East with breeding, breeding hatchery, hatchery grow out and…
  36. Q4 2011 EARNINGS CALL – Bonheur Asa – slide 36
    www.bonheur.net www ganger-rolf www.ganger rolf.com com 36

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