strong earnings increase and improved market visibility CORPORATEPRESENTATION- AUGUST 22ND. 2012 UNAUDITED2ND QUARTER2012 FINANCIALRESULT BY ATLEJACOBSEN(CEO) & ERIK HOKHOLT(CFO)
Photo Submitted by: Roy Robertsen, SL Observer Polar Duchess
Quarterly highlights Q2 2012 Revenues of USD 50.0 million EBITDA of USD 23.0 million (46%) EBIT of USD 10.6 million (21.2%) Net Income before tax of USD 9.5 million Dolphin successfully enters into the 3D Multi-Client market,…
QUARTERLY DEVELOPMENT REVENUES, EBITDA, EBIT Q2 - Revenues doubled compared with Q2 in 2011 and EBIT improved 5 times in same period Q2 Dolphin has succeeded building a highly profitable geophysical company in just 5 quarters and the…
Key Financial Figures Amount in USD million Q2 2012 Q2 2011 YTD 2012 YTD 2011 Year 2011 Net operating revenues 50.0 24.1 84.6 24.5 97.6 EBITDA 23.0 3.8 25.6 0.0 13.6 EBIT - Operational result 10.6 2.1 7.5 -1.9 3.0 Net Financial result…
Quarterly Income Statement Figures In thousands of USD Q2 2012 Q1 2012 Q4 2011 Q3 2011 Q2 2011 Q1 2011 2011 Net Operating Revenues 50,013 34,610 30,108 42,952 24,061 436 97,557 Operating expenses Cost of sales 22,479 27,543 22,223…
Distribution of revenues and Multi-Client library performance Q2 2012 Q2 2011 YTD 2012 YTD 2011 2011 In millions of USD Geophsycial Contract 33.3 23.5 63.0 23.5 90.1 MCS pre-funding 11.6 - 16.4 - 3.9 MCS late sales 4.6 - 5.2 - -…
Tangible Non-Current Assets Leased Office Owned seismic seismic Assets under In thousands of USD equipment equipment equipment construction Total Cost: Acquisition cost at 01.01.12 980 10,196 73,251 1,071 85,498 Purchase of tangibles…
STRONG VALUE CREATION Dec 2010: Oct 2011: Private Placement Private Placement NOK 391m at NOK 2.5 NOK 215m at NOK 3.0 Strong value creation for Dolphin 1,800 6.0 shareholders since Dolphin 1,600 Geophysical was established 5.0…
DOLPHIN VISION TO BECOME A FULL RANGE MARINE GEOPHYSICAL SERVICE PROVIDER Business Strategy 1 14,000 120 12,000 100 Position Dolphin as a single bet on seismic market rebound Global Seism ic Spending (USDm ) 10,000 80…
Business Lines MARINE MULTI-CLIENT PROCESSING TECHNOLOGY Expanding Modern Fleet Growing Multi-Client Data Full onshore and offshore Dolphin Interconnect Library processing service In Production Library of modern 2D and 3D In house…
Fleet Deployment Schedule Polar Explorer (2D) Artemis Atlantic (2D) Polar Duchess (3D, 12-14 str) Sanco Swift Sanco Sword Delivered Jan 2011 Delivered May 2011 Delivered April 2012 Delivery Q213 Delivery Q114 Jan 11 May 11 Phase…
Vessel Schedule 2012 and into 2013 (forillustrationpurposes) Schedule comments: Artemis Arctic and Artemis Atlantic some availability for the end of Q4 Polar Explorer will be redelivered to owner as per time charter in end…
Planned Q3 fleet location and regional target areas Dolphin fleet location 15
Multi-Client Status Dolphin established in 3D Multi-Client markets. Building 3D library in Senegal, Barents Sea, Central North Sea and Lebanon. Continue to expand 2D Multi-Client coverage in Brazil and North West Africa. Polar…
Gulspurv 3D Multi-Client survey First Multi-Client 3D for Dolphin in Norway, 2000 km2 Area prioritised with industry for 22nd Licensing Round Significant pre-funding secured Area of 3D survey coverage Norwegian Barents Sea…
Processing Status Purchase of Open Geophysical Inc. Control of source code and software development Rapid further development of software Self-supporting via external sales 2 existing customers doubled their number of licenses in…
SHarp Dolphins entry to the growing marine broadband market Tenders increasingly require broadband products Enhanced Multi-Client surveys 2D and 3D Combination of acquisition and processing Purchase of Open Geophysical has…
Summary Strong quarter with record revenue and earnings Rapid and successful entry in the profitable 3D Multi- Client segment. Significant improvement in backlog Outlook Order backlog for Q4 and Q1 2013 confirms contract rates…
Dolphin - assumptions and guidance 2012 Vessel capacity Polar Duchess (3D, 14 str.) on TC, 6th. April 2012 Sanco Swift (3D, 14-16 str.) expected on TC, July 2013 Sanco Sword (3D, 14-16 str.) expected on TC, April 2014 Pricing, costs,…
APPENDIX 22
DOLPHIN 20 LARGEST SHAREHOLDERS (AS OF 20 AUGUST 2012) Number of Shareholder shares Ownership share 1 RAMOO INVESTMENT PARTNERS 49,949,818 16.4% 2 EVEREST CAPITAL 44,449,433 14.6% 3 HOLBERG NORDEN 12,425,644 4.1% 4 VARMA MUTUAL…
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