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Q4 2009 EARNINGS CALL – Dof Asa

Dof Asa · Feb 23, 2010 · 23 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 2009 EARNINGS CALL – Dof Asa – slide 1
    DOF ASA Q4 2009 CEO Mons S. Aase CFO Hilde Drnen The New Horizon DOF ASA PRESENTATION Q4 2009
  2. Q4 2009 EARNINGS CALL – Dof Asa – slide 2
    Agenda Highlights Overview Q4 Financial Outlook The New Horizon DOF ASA PRESENTATION Q4 2009 - 2
  3. Q4 2009 EARNINGS CALL – Dof Asa – slide 3
    Highlights 2010 Skandi Santos delivered Skandi Aker delivered (January 2010) LOI signed with OGX for Skandi Emerald (February 2010) Several shorter contracts awards for DOF Subsea Longterm contracts for Skandi Stolmen and Skandi…
  4. Q4 2009 EARNINGS CALL – Dof Asa – slide 4
    Company overview DOF ASA DOF Subsea Ship owning Norskan Holding company 100% 51% 50-100% Modern fleet Modern fleet 8 AHTSs 10 AHTSs 4 PSVs 19 PSVs 1 CSV 1 CSV DOF Installer DOF Subsea 53.5% 100% 3 state of the art…
  5. Q4 2009 EARNINGS CALL – Dof Asa – slide 5
    The fleet market segments PSV AHTS ROV/OCSV/DSV/ Total fleet No. of vessels SEISMIC VESSELS DOF ASA 19 4 1 24 NORSKAN OFFSHORE 4 8 1 13 DOF SUBSEA AS 0 0 21 21 DOF INSTALLER ASA 0 3 0 3 AKER DOF DEEPWATER AS 0 6 0 6…
  6. Q4 2009 EARNINGS CALL – Dof Asa – slide 6
    GLOBAL PLAYER Bergen Austevoll Aberdeen St. Petersburg St. Johns Cairo Houston Manila Singapore Brunei Jakarta Macae Angola Rio de Janeiro Perth Buenos Aires GEOGRAPHICAL FOCUS AREAS The New Horizon DOF…
  7. Q4 2009 EARNINGS CALL – Dof Asa – slide 7
    DOF Supply Contract Coverage PSV Area of Operation Charterer 2010 2011 2012 J FM AM J J A S ON D J FM AM J J A S ON D J FM AM J J A S ON D 1 Skandi Falcon India Reliance 2 Skandi Marstein North Sea Shell UK 3 Skandi Stolmen…
  8. Q4 2009 EARNINGS CALL – Dof Asa – slide 8
    DOF contract coverage AHTS Area of Operation Period Charterer 2010 2011 2012 J FM AM J J A S ON D J FM AM J J A S ON D J FM AM J J A S ON D Skandi Mgster Worldw ide OGX Skandi Stord North Sea Statoil Skandi Admiral North Sea…
  9. Q4 2009 EARNINGS CALL – Dof Asa – slide 9
    DOF contract coverage, vessels under construction DOF Installer ASA 53.5% DOF Subsea AS Vessel Name Type Ow ner Charterer Delivery 2010 2011 2012 J FM AM J J A S ON D J FM AM J J A S ON D J FM AM J J A S ON D 1 Skandi Skolten (AH…
  10. Q4 2009 EARNINGS CALL – Dof Asa – slide 10
    DOF Subsea contract coverage vessels Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Geobay Geosounder LAYUP Geograph Skandi Bergen DOF Subsea Operated Geosund Geosea Geoholm Skandi Seven Skandi…
  11. Q4 2009 EARNINGS CALL – Dof Asa – slide 11
    DOF Subsea : ROV - and other major contracts 2009 2010 2011 Norskan Norskan Botafogo Petrobras Skandi Fluminence Petrobras DOF ASA Skandi Chieftain Petrobras Skandi Vega Statoil Subsea IRM contract Brunei Shell…
  12. Q4 2009 EARNINGS CALL – Dof Asa – slide 12
    NORSKAN: The fleet PSV Area of Ops. Built Charterer 2010 2011 2012 J FM AM J J A S ON D J FM AM J J A S ON D J FM AM J J A S ON D 1 Norskan Flamengo Brazil 2003 Petrobras 2 Norskan Leblon Brazil 2003 Shell 3 Skandi Yare Brazil…
  13. Q4 2009 EARNINGS CALL – Dof Asa – slide 13
    Financial Highlights Q4 2009 Normalised utilization supply fleet Two supply vessels off-hire due to rebuilding Lower utilization subsea vessels compared to Q3 High depreciations and write downs Tonnage tax reversed based on result…
  14. Q4 2009 EARNINGS CALL – Dof Asa – slide 14
    Result Q4 2009 ALL FIGURES IN NOK MILLION Q 4 2009 Q 4 2008 2009 2008 Operating income 1,182 1,108 4,348 4,022 Gain / loss on sale of assets -21 163 -21 318 Total operating income 1,161 1,271 4,327 4,340 Operating expenses vessels…
  15. Q4 2009 EARNINGS CALL – Dof Asa – slide 15
    P&L Q4 2009 ALL FIGURES IN NOK MILLION DOF SUB. DOF SUB DOF ASA Elimin. TOTAL DOF ASA Elim. TOTAL HOLDING HOLDING Q4 09 Q4 09 Q4 09 2009 2009 2009 Operating income 429 762 -9 1,182 1,552 2,830 -34 4,348 Gain/loss on sale of…
  16. Q4 2009 EARNINGS CALL – Dof Asa – slide 16
    Balance Q4 2009 ALL FIGURES IN NOK MILLION 31-12-09 31-12-08 Intangible assets 481 628 Fixed assets 17,342 14,788 Financial assets 67 146 Receivables 1,736 1,436 Bank balance 2,214 2,832 Total assets 21,840 19,831…
  17. Q4 2009 EARNINGS CALL – Dof Asa – slide 17
    Key figures Q4 2009 Q 4 2009 Q 4 2008 2009 2008 Profit per share 1) 0.21 -0.95 10.36 1.21 Profit per share ex. minority interest 2) 0.07 -0.74 7.20 0.79 Profit per share ex. unrealized loss/gain 3) 1.77 3.22 1.73 9.12 Cashflow per…
  18. Q4 2009 EARNINGS CALL – Dof Asa – slide 18
    Currency effects on Q4 results ALL FIGURES IN NOK MILLION Financial items Group Q1 Group Q2 Group Q3 Group Q4 Group 31.12.09 Share of loss profit from associated 0 172 3 22 197 Interest reveneue 31 18 15 57 121 Interest costs…
  19. Q4 2009 EARNINGS CALL – Dof Asa – slide 19
    DOF ASA Group - New builds 31-12-2009 USD/NOK 5,91 REMAINING Secured/ Expected CAPEX financing* Equity need Norskan 2,228,262,000 2,258,620,000 -30,358,000 Aker DOF Deepwater (50 %) 1,731,046,000 1,400,000,000 331,046,000 DOF…
  20. Q4 2009 EARNINGS CALL – Dof Asa – slide 20
    Markets Supply Weak North Sea spot market Subsea Difficult market, but increased activity in the North Sea. High activity in Brazil and Australia The New Horizon DOF ASA PRESENTATION Q4 2009 - 20
  21. Q4 2009 EARNINGS CALL – Dof Asa – slide 21
    Near Term Outlook Supply High contract coverage Only 3 vessels without full coverage for 2010 Skandi Admiral in spot market from mid February Skandi Falcon firm contract ends August 2010 and Skandi Giants firm contract end…
  22. Q4 2009 EARNINGS CALL – Dof Asa – slide 22
    Near Term Outlook Subsea Low utilisation on the following vessels so far in Q1 Geoholm, onhire on a 100 + day job from mid February Geograph Skandi Seven, latest onhire mid March Expect improved utilisation in Q2 Skandi…
  23. Q4 2009 EARNINGS CALL – Dof Asa – slide 23
    Thank you The New Horizon DOF ASA PRESENTATION Q4 2009 - 23

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