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Q3 2009 EARNINGS CALL – Dof Asa

Dof Asa · Nov 5, 2009 · 25 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. Q3 2009 EARNINGS CALL – Dof Asa – slide 1
    DOF ASA Q3 2009 CEO Mons S. Aase CFO Hilde Drnen The New Horizon DOF ASA PRESENTATION Q3 2009
  2. Q3 2009 EARNINGS CALL – Dof Asa – slide 2
    Agenda Highlights Overview Q3 Financial Outlook The New Horizon DOF ASA PRESENTATION Q3 2009 - 2
  3. Q3 2009 EARNINGS CALL – Dof Asa – slide 3
    Highlights Q3 Skandi Mgster onhire to OGX Skandi Chieftain onhire to Petrobras Skandi Hav completed rebuilding for Petrobras contract Several shorter contract awards in DOF Subsea ROV contract with Statoil on Skandi Vega New…
  4. Q3 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 9 AHTSs 4 PSVs 19 PSVs 1 CSV DOF Installer DOF Subsea 53.5% 100% 4 state of the art Modern…
  5. Q3 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 3 1 23 NORSKAN OFFSHORE 4 8 0 12 DOF SUBSEA AS 0 0 22 22 DOF INSTALLER ASA 0 4 0 4 AKER DOF DEEPWATER AS 0 6 0 6…
  6. Q3 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. Q3 2009 EARNINGS CALL – Dof Asa – slide 7
    DOF Supply contract coverage PSV Area of Operation Charterer 2009 2010 2011 F M AM J J A S ON D J FM AM J J A S ON D J F M AM J J A S ON D 1 Skandi Falcon India Reliance 2 Skandi Marstein North Sea Shell UK 3 Skandi Stolmen Norw…
  8. Q3 2009 EARNINGS CALL – Dof Asa – slide 8
    DOF contract coverage AHTS Area of Operation Period Charterer 2009 2010 2011 F M AM J J A S ON D J F M AM J J A S ON D J F M AM J J A S ON D Skandi Mgster Worldw ide Spot/OGX Skandi Stord North Sea StatoilHydro Skandi Admiral…
  9. Q3 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 2009 2010 2011 J F M AM J J A S ON D J F M AM J J A S ON D J F M AM J J A S ON D 1 Skandi Vega (AH04…
  10. Q3 2009 EARNINGS CALL – Dof Asa – slide 10
    DOF Subsea contract coverage vessels jan feb mar apr mai jun jul aug sep okt nov des jan feb mar apr mai jun jul aug sep okt nov des Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 2011 Geobay Geosounder Geograph DOF Subsea Operated…
  11. Q3 2009 EARNINGS CALL – Dof Asa – slide 11
    DOF Subsea : ROV - and other major contracts 2009 2010 2011 DOF ASA Norskan Norskan Botaf ogo Petrobras Skandi Fluminence Petrobras Skandi Chief tain Petrobras Skandi Vega Statoil Subsea IRM contract Shell Philipines JV-…
  12. Q3 2009 EARNINGS CALL – Dof Asa – slide 12
    NORSKAN: The fleet PSV Area of Ops. Built Charterer 2009 2010 2011 J F M 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 2005 Shell 3 Skandi Yare Brazil…
  13. Q3 2009 EARNINGS CALL – Dof Asa – slide 13
    Innovation The Skandi Hav lifecycle Skandi Hav, TMV 4000 design, built1983 as PSV/pipecarrier Rebuilt as cablelayer 1994 Reinstated as PSV 1996 Rebuilt as FPSO Standby Vessel 2009 Capex 2009 NOK 140 mill Charter Contract…
  14. Q3 2009 EARNINGS CALL – Dof Asa – slide 14
    Financial Highlights Q3 2009 Full effect three vessels on new contracts in Q3 Rebuilding of one vessel completed, on contract in Q4 Class-docking two vessels, minor off-hire days Utilization subsea fleet on level as Q2 High…
  15. Q3 2009 EARNINGS CALL – Dof Asa – slide 15
    Result Q3 2009 ALL FIGURES IN NOK MILLION Q 3 2009 Q 3 2008 30.09.09 30.09.08 2008 Operating income 1.120 1.077 3.166 3.069 4.340 Total operating income 1.120 1.077 3.166 3.069 4.340 Operating expenses vessels 745 703 2.228…
  16. Q3 2009 EARNINGS CALL – Dof Asa – slide 16
    P&L Q3 2009 ALL FIGURES IN NOK MILLION DOF ASA SUB. HOLDING TOTAL DOF ASA DOF SUB HOLDING TOTAL Q3 09 Q3 09 Q3 09 30.09.09 30.09.09 30.09.09 Revenue 388 740 1.120 1.098 2.068 3.166 Total Revenue 388 740 1.120 1.098 2.068 3.166…
  17. Q3 2009 EARNINGS CALL – Dof Asa – slide 17
    Balance Q3 2009 ALL FIGURES IN NOK MILLION 30.09.2009 30.09.2008 31.12.2008 Intangible assets 663 519 628 Fixed assets 16.354 13.001 14.788 Financial assets 40 489 146 Receivables 1.649 1.321 1.436 Vessel held for sale 0 173…
  18. Q3 2009 EARNINGS CALL – Dof Asa – slide 18
    Key figures Q3 2009 Q 3 2009 Q 3 2008 30.09.2009 30.09.2008 31.12.2008 Profit per share 1) 5,44 -1,11 10,59 3,80 1,21 Profit per share ex. minority interest 2) 4,31 -0,90 7,45 3,46 0,79 Profit per share ex. unrealized loss/gain 3)…
  19. Q3 2009 EARNINGS CALL – Dof Asa – slide 19
    Currency effects on Q3 results ALL FIGURES IN NOK MILLION Financial items Group Q1 Group Q2 Group Q3 Group 30.09.09 Share of loss profit from associated 0 172 3 176 Interest reveneue 31 18 15 64 Interest costs -163 -163 -148…
  20. Q3 2009 EARNINGS CALL – Dof Asa – slide 20
    Markets Supply Weak North Sea spot market Subsea Difficult North Sea market Continued high activity in Brazil and stronger in Asia and West Africa The New Horizon DOF ASA PRESENTATION Q3 2009 - 20
  21. Q3 2009 EARNINGS CALL – Dof Asa – slide 21
    Near Term Outlook Supply High contract coverage Skandi Mgster, started long term contract OGX in August Skandi Waveney, will start on long term contract for Statoil in Brazil in mid November Skandi Hav - contract started with…
  22. Q3 2009 EARNINGS CALL – Dof Asa – slide 22
    Near Term Outlook Subsea North Sea and Mediterranean Geosund working in Israel + Blue Stream in Q4, Q1/2010 and 2012 Skandi Bergen onhire for Statoil until end December Geoholm onhire for Technip until mid /end November Improved…
  23. Q3 2009 EARNINGS CALL – Dof Asa – slide 23
    Cost Full focus on cost reduction: Stage 1: Onshore operating costs Stage 2: Global offshore efficiencies Stage 3: Supply chain discounts Stage 4: Efficiencies in how we are organized globally High costs in 2009 due to growth,…
  24. Q3 2009 EARNINGS CALL – Dof Asa – slide 24
    Concluding remarks High contract coverage Well positioned in Brazil Signes of improvement in subsea market in Asia and West Africa Financial markets are improving The New Horizon DOF ASA PRESENTATION Q3 2009 - 24
  25. Q3 2009 EARNINGS CALL – Dof Asa – slide 25
    Thank you The New Horizon DOF ASA PRESENTATION Q3 2009 - 25

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