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Q4 2013 EARNINGS CALL – Bonheur Asa

Bonheur Asa · Feb 27, 2014 · 32 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 – Bonheur Asa – slide 1
    4 quarter 2013 and preliminary result 2013 27 February 2014
  2. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 2
    Business segments as of 27 February 2014 62.1% Bonheur ASA (listed OSE) Ganger Rolf ASA (listed OSE) 20.7% Offshore drilling Renewable energy Shipping/Offshore wind Cruise Other investments 51,9% 100% 100% 100% Fred.…
  3. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 3
    Bonheur ASA - Highlights 4Q 13 (4Q 12 in brackets) Operating revenues were NOK 2 740 million (NOK 2 234 million) Operating result before depreciation (EBITDA) was NOK 880 million (NOK 799 million) Impairment of cruise vessels by NOK…
  4. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 4
    Bonheur ASA - Group of companies Consolidated summary (NOK million) 4Q 13 4Q 12 *) 2013 2012 *) Revenues 2 740 2 234 10 258 9 605 EBITDA 880 799 4 013 3 880 EBIT -51 294 1 557 2 025 Share of result from associates -3 -1 1 6 Net finance…
  5. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 5
    Bonheur ASA - Group of Companies - Segment analysis EBITDA (NOK million) 4Q 13 4Q 12 Change Offshore Drilling 704 750 -46 Renewable Energy 225 108 118 Cruise -9 15 -24 Shipping/Offshore wind -3 -15 12 Other -37 -59 21 Total EBITDA 880…
  6. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 6
    Bonheur ASA - Group of companies - Condensed statement of Financial position (*) (*) (NOK million) Per 31.12.13 Per 31.12.12 Per 31.12.13 Per 31.12.12 Intangible fixed assets 417 159 Deferred tax asset 181 240 Equity owned by…
  7. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 7
    Bonheur ASA - Group of companies - Cash flow statement (NOK million) 2013 2012 Net cash flow from operating activities 3 412 3 813 Net cash flow from investing activities -1 930 -3 235 Net cash flow from financing activities…
  8. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 8
    Ganger Rolf ASA - Highlights 4Q 13 (4Q 12 in brackets) Net result was NOK - 137 million (NOK 26 million) Impairment of cruise vessels. Ganger Rolfs share is NOK 206 million Completed sale of shares in Fred. Olsen Production ASA…
  9. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 9
    Ganger Rolf ASA - Group of companies - Consolidated summary 4Q 13 4Q 12 *) 2013 2012 *) Revenues 0 2 1 2 EBITDA -18 -16 -46 -43 EBIT -18 -16 -48 -45 Share of result from associates -65 79 502 475 Net finance -62 -13 -96 -21 EBT…
  10. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 10
    Ganger Rolf ASA - Group of companies - Segment analysis - Net result (NOK million) Net result per segment 4Q 13 4Q 12 Change Offshore Drilling 68 76 -8 Floating Production 10 -3 13 Renewable Energy 136 -2 138 Cruise -268 -22 -246…
  11. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 11
    Ganger Rolf ASA - Group of companies - Condensed statement of Financial Position (*) (NOK million) Per 31.12.13 Per 31.12.12 Deferred tax asset 1 40 Property, plant and equipment 35 37 Investments in associates 6 098 6 132 Other…
  12. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 12
    Offshore Drilling Fred. Olsen Energy ASA
  13. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 13
    Offshore Drilling - Highlights 4Q 13 (4Q 12 in brackets) Revenues were NOK 1 804 million (NOK 1 628 million) EBITDA were NOK 704 million (756 million) Operating profit (EBIT) was NOK 340 million (NOK 400 million) Profit before tax…
  14. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 14
    Offshore Drilling - Operating worldwide Bideford Borgland Bredford Byford Borgsten Borgholm Bollsta - newbuild HE/UDW semi Blackford Bolette Belford Borgny
  15. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 15
    Offshore Drilling Bolette Dolphin
  16. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 16
    Offshore Drilling - Contract overview per 27 February 2014 2013 2014 2015 2016 2017 2018 2019 2020 Bolette Anadarko Bollsta Chevron Belford Anadarko Blackford 1) 2) 3) 4) TBC Chevron Borgny Petrobras Bideford Statoil…
  17. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 17
    Offshore Drilling Key Financials (NOK million) 2013 2012 (*) NOK mill. Revenues 7 022 6 877 EBITDA 3 358 3 533 EBIT 1 935 2 183 2000 EBT 1 841 1 907 1800 Non-current assets 15 328 12 942 1600 Current assets 3 324 2 971 1400…
  18. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 18
    Renewable Energy Fred. Olsen Renewables AS
  19. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 19
    Renewable Energy - Overview Five windfarms in Scotland (356.9 MW) and one in Norway (71.3 MW) in full operation. Mid Hill (57.5 MW): The construction is ongoing and the project is expected to be ready for operation in 2Q14. Mid Hill…
  20. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 20
    Renewable Energy - Business Model and Project Portfolio Site Investigation Development Consented Construction Operation Scotland Scotland 40-50 MW Scotland Scotland Scotland Crystal Rig III Windy Standard II 75 MW Mid Hill 57.5 MW…
  21. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 21
    Renewable Energy - Projects in the UK and Ireland
  22. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 22
    Renewable Energy - Projects in Scandinavia
  23. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 23
    Renewable Energy Key Financials (NOK million) 2013 2012 (*) NOK mill. Revenues 726 513 EBITDA 522 335 EBIT 280 127 EBT 393 -24 350 Non-current assets 3 630 2 758 Current assets 1 554 1 269 300 Total assets 5 185 4 026 250 Equity 560…
  24. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 24
    Cruise Fred. Olsen Cruise Lines Ltd.
  25. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 25
    Cruise - Overview Owns and operates four cruise ships; MV Black Watch MV Braemar MV Boudicca MV Balmoral Offers a diverse range of cruise holidays from long round the world trips to ex UK cruises to Scandinavia,…
  26. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 26
    Cruise Key Financials NOK mill. (NOK million) 2013 2012 600 Revenues 1 470 1 628 EBITDA 65 193 EBIT -613 -19 400 EBT -636 -84 Non-current assets 1 451 1 880 200 Current assets 340 316 Total assets 1 791 2 195 Equity 379 832 0 Interest…
  27. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 27
    Shipping / Offshore Wind First Olsen Ltd. - Fred. Olsen Windcarrier AS - Universal Foundation Norway AS
  28. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 28
    Shipping / Offshore Wind - Overview Fred. Olsen Windcarrier Two transport and installation vessel for offshore wind turbines; Brave Tern, delivered from yard in October 2012 and Bold Tern, delivered from yard in February 2013. Main…
  29. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 29
    Shipping / Offshore wind Key Financials NOK mill. (NOK million) 2013 2012 350 Revenues 1 017 522 EBITDA 193 -29 300 EBIT 37 -115 250 EBT 102 -190 Non-current assets 2 673 2 316 200 Current assets 1 349 348 Total assets 4 023…
  30. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 30
    Other Investments NHST Media Group AS - Koksa Eiendom AS - Various
  31. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 31
    Other Investments - Overview NHST Media Group AS (35.6%) Comprising four main business segments; Dagens Nringsliv, Digital & Nordic (New Media, Europower, TDN), Global (Tradewinds, Upstream, Intrafish and Recharge) and Nautical Charts…
  32. Q4 2013 EARNINGS CALL – Bonheur Asa – slide 32
    www.bonheur.net www.ganger-rolf.com

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