Skip to main content Q1 2015 EARNINGS CALL – Solstad Offshore Asa Investor Presentation | Shale Experts
Loading...
Pm

Q1 2015 EARNINGS CALL – Solstad Offshore Asa

Solstad Offshore Asa · May 19, 2015 · 20 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. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 1
    SOLSTAD OFFSHORE ASA Company Presentation 1st Quarter 2015 18/19 May 2015 By Lars Peder Solstad & Sven Stakkestad
  2. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 2
    AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 2
  3. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 3
    SOLSTAD OFFSHORE IN BRIEF Key facts Fleet overview Founded in 1964. In the offshore segment since 1973 Weighted New Segments Current Fleet Average Operations worldwide North Sea, Brazil, US Gulf, buildings Age 1) West Africa, Asia…
  4. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 4
    SOLSTAD OFFSHORE HIGHLIGHTS 31.03.2015 Financial highlights Good earning Netand margins revenues stable NOK 909 mill Adjusted underlying values EBITDA NOK 410 mill / Adjusted EBITDA margin 42% Annual general meeting 18th May…
  5. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 5
    THE SOLSTAD OFFSHORE FLEET 46 VESSELS IN OPERATION AS PER 18. May 2015 Vessels: 18 Newbuild: 1 Skudeneshavn Aberdeen Vessels: 2 Vessels: 3 Vessels: 4 Manila Kuala Lumpur Singapore Vessels: 3 Vessels: 6 Singapore Rio de…
  6. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 6
    AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 6
  7. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 7
    OPERATING REVENUE AND EBITDA (ADJ.) (EX. GAIN / LOSS ON SALE OF ASSET / INCL. SHARE IN JVs) 1200 60% 1100 1000 50% 900 800 40% 700 EBITDA % NOK mill 600 30% 500 400 20% 300 200 10% 100 0 0% 1Q 12 2Q 12…
  8. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 8
    PROFIT & LOSS ACCOUNTS 31. March 2015 1Q 1Q 2014 (Mill NOK) 2015 2014 31.12 Total Operating Income (1) 909 870 3 880 Operating expenses (371) (348) (2 231) Ord. Depreciation (122) (100) (461) Joint Venture & Associated Companies 21…
  9. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 9
    BALANCE 31. March 2015 2015 2014 (Mill NOK) 31.03 31.12 Long Term fixed assets 15 455 15 249 Current assets (1) 2 312 2 497 Total assets 17 767 17 746 Equity 4 702 5 057 Long Term liabilites 9 496 10 601 Current liabilites…
  10. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 10
    SOLSTAD OFFSHORE ASA - VALUES & DIVIDEND 180,0 6,00 160,0 5,00 140,0 120,0 4,00 NOK Dividend per Share Values per share in NOK 100,0 3,00 80,0 60,0 2,00 40,0 1,00 20,0 0,0 0,00 2007 2008 2009…
  11. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 11
    FINANCIAL SUMMARY Broker values vs. debt 31.03.15 (NOK bn) * Broker values vs. debt % by segment Debt / EBITDA (31.03.15 figures)** Loan to value 31.03.15 (%) * Including SOFFs relative shares in JVs (debt, vessel values &…
  12. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 12
    CONTRACT COVERAGE & REPAYMENT OVERVIEW Secured contract coverage and forthcoming Installments and Balloons Contract coverage % of available days 15 17 * Contract coverage 15 17 in NOK * * Including SOFFs relative shares in JVs…
  13. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 13
    AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 13
  14. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 14
    THE SOLSTAD FLEET MARKET SEGMENTS 1)Based on broker valuations as of 31.12.2014 (incl. SOFFs 50% share in Normand Installer and Normand Oceanic
  15. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 15
    CSV SEGMENT General comments 2015 is an active year within the subsea-segment and market is driven by existing back-logs, but challenging markets ahead as many projects are being postponed or cancelled. The long-term fundamentals…
  16. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 16
    AHTS SEGMENT General comments Slow market Dependent on future rig activity and that Petrobras start contracting again. Over-supply of vessels in combination with reduced rig-activity. Operational highlights 71% utilization…
  17. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 17
    PSV SEGMENT General comments Segment is oversupplied and rates are below crew cost in the spot-market. Still many new vessels under construction, and entry barrier is too low. Supply side needs to be reduced to be able to get…
  18. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 18
    AGENDA 1. KEY HIGHLIGHTS 2. FINANCIALS 3. FLEET AND MARKETS 4. OUTLOOK 18
  19. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 19
    FUTURE OUTLOOK Our solid contract coverage gives us good visibility for 15 and increasingly also for 16 We will continue to focus on long term contracts for our CSV fleet to achieve predictable EBITDA Unbalance in the market gives…
  20. Q1 2015 EARNINGS CALL – Solstad Offshore Asa – slide 20

From the store

Browse maps, data & reports in the Shale Experts store