Goldman Sachs Global Energy Conference January 8, 2014 0
NonGAAP Financial Measures Reconciliation This presentation includes EBITDA, Adjusted EBITDA and Adjusted EBITDAR as supplemental measures of Era Groups operating performance. EBITDA is defined as Earnings before Interest (includes…
Company Overview Founded in Alaska in 1948, Era is the longest-serving LTM Revenue by End Market helicopter transport company in the U.S. Air Other Medical 6% Spin-off from SEACOR effective January 31, 2013 5% Contract- leasing…
Areas of Operation 25 Canada 1 Norway 2 Alaska 1 3 Sweden UK 99 17 Continental United States Spain 3 2 12 India Mexico Brazil 1 Uruguay Australia Australia Aircraft in Region ( of aircraft) Training Center Joint…
Fleet Overview Fleet by Type Fleet by Ownership Heavy Leased Managed 9 4 7 EC225 5% 2% 4% Joint Ventured 8 Light Single 5% 59 A119 AW139 36% AS350 Bell 212 Bell 412 Medium S76A/A++ 61 S76C+/C++ 37% A109 BK-117 EC135…
Significant Fleet Investment 1,300 1,200 Capital Commitments Helicopter purchases less sale proceeds 1,100 EraMED acquisition 1,000 Era acquisition TexAir acquisition 900 800 Millions 700 600 500 400 300 200…
Helicopter Order and Options Book Remaining Amount Delivery Class Type Number Firm Cancellable 2013 Medium AW139 2 20.7 Current Order Book 2014 Medium AW139 2 24.6 2014 Heavy AW189 3 30.5 16.5 2015 Heavy AW189 2 33.0 2016…
Investment Highlights Stable and Growing Strong Customer End Markets Relationships Sound Industry Residual Value Structure Retention Industry-Leading Substantial Net Asset Value Margins Attractive Growth Profile 8
Sound Industry Structure Significant Barriers to Entry Limited Production 4 OEMs: AgustaWestland, Eurocopter, Sikorsky, Bell Capacity Lead time for new technology offshore-class helicopters is approximately 18-36 months as demand…
Expected Regional Growth (Rigs and Platforms) North Sea Alaska 16% 100% 9% 2 4 22 24 5% 44 38 Jun-13 Dec-14 Jun-13 Dec-14 583 614 Jun-13 Dec-14 Jun-13 Dec-14 US Gulf of Mexico 1% 44% Southeast Asia West Africa 9% 22%…
Residual Value Retention (Indexed Resale Value) 100.0 80.0 60.0 Premium to Book 40.0 20.0 0 1 2 3 4 5 67 8 9 10 11 12 13 14 15 Helicopter Age Helicopter Resale Value(a)(b) Illustrative Book Value(c) (000s) 2004 2005 2006…
Historical Financial Performance Fiscal Year ending December 31 Nine Months ending September 30 300 Hurricane Ike Macondo Incident 45% 250 45% 273 223 258 249 40% 40% 250 202 236 235 200 215 35% 35% 35% 200 34% 30% 31% 150…
Capitalization and Financial Policy September 30, 2013 (000s) Era continues to generate substantial free As Adjusted cash flow Flexibility to fund growth via organic and Cash and cash equivalents 32,417 strategic opportunities…
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 NAV per Share (excl. deferred taxes) Stock Price NAV per Share (net of deferred taxes)…
Questions and Answers 15
Fleet Overview Joint Average Owned Ventured Leased-In Managed Total Age(a) Heavy: EC225 9 9 4 Total Heavy 9 9 4 Medium: AW139 35 1 36 4 Bell 212 11 11 35 Bell 412 6 6 32 S76 A/A++ 2 2 23 S76 C+/C++ 5 1 6 7 Total Medium 59 1 1…
NAV per Share Calculation (as of 9/30/13) (in million, except share data) + FMV of Helicopters 924 + NBV of Other PP&E 69 + Working Capital 75 + Other Net Tangible Assets 47 Longterm Debt (240) Deferred Taxes (208) Net Asset…
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 and Adjusted EBITDAR to more…
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