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Q1 2015 RESULTS – Eidesvik Offshore Asa

Eidesvik Offshore Asa · May 13, 2015 · 16 slides

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Slides

  1. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 1
    Presentation 1st Quarter 2015 Oslo 13.05.2015 CEO Jan Fredrik Meling
  2. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 2
    News in 1st Quarter 2015 Taken delivery of Viking Neptun, a large construction vessel. The vessel has commenced on a 180days contract.
  3. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 3
    News in 1st Quarter 2015 Statoil has declared an option to extend the contract for 1 year from April 2015 for the LNG fuelled PSV Viking Energy.
  4. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 4
    News in 1st Quarter 2015 Entered into an agreement for early termination of contract for the seismic vessel Vantage.
  5. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 5
    News after 31.03.15 Entered into an agreement for installation of Energy Storage System (Battery solution) for Viking Queen Extended the fixed period of the contract with Lundin Norway AS from 900 to 1.200 days.
  6. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 6
    1st Quarter 2015 results (1st Quarter 2014 in brackets) Revenues MNOK 278,5 (220,5) EBITDA MNOK 167,1 (88,6) Operating profit MNOK 106,1 (26,7) Pretax profit MNOK 103,9 (32,7) Q1 Profits influenced by disagio (MNOK 173,7) and…
  7. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 7
    Results 1st Quarter 2015 (in million NOK, Gain on sale excluded) Operating revenue Q1 The results in 1st Quarter compared to last year are influenced of: 400 The subsea vessel Viking Neptun was delivered and commenced contract…
  8. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 8
    Cash Flow (in million NOK) 1st Quarter 1st Quarter 2015 2014 2014 Net cashflow from operating activities 68,8 85,1 537,5 Net cashflow from investment activities (943,5) (28,0) (113,3) Net cashflow from finance activities 634,3…
  9. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 9
    Balance (in million NOK) 7 000 6 000 Current assets Shortterm liab. Current assets Shortterm liab. 5 000 4 000 Longterm liabilities Longterm liabilities 3 000 Fixed assets Fixed assets 2 000 Equity 1 000 Equity 0 Assets Equity…
  10. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 10
    Segments Incl. Share of Joint Ventures Excluded gain on sale (MNOK) 1st Quarter 2015 Seismic Subsea Supply Other Revenue 103,8 124,4 93,8 5,2 EBITDA 103,1 74,3 36,7 6,2 Revenue Q4 2014 EBIT 72,8 39,9 6,6 6,7 EBITDA margin 99% 60%…
  11. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 11
    Contract backlog (per 31.03.2015) 11
  12. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 12
    Contract status seismic Viking Vanquish Viking Vision Veritas Viking Viking 2 Vantage Oceanic Vega Oceanic Sirius 2015 2016 2017 2018 2019
  13. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 13
    Contract status subsea Subsea Viking Acergy Viking Viking Poseidon European Supporter Seven Viking Viking Neptun 2015 2016 2017 2018 2019
  14. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 14
    Contract status supply Viking Queen Viking Lady Viking Athene Viking Energy Viking Avant Viking Nereus SPOT Viking Prince Viking Princess SPOT 2015 2016 2017 2018 2019
  15. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 15
    Market We still operate in a very challenging market within all three segments. There is excess weight on the supply side and we do not see any tendency of vessels being taken out of operations sufficient enough to restore balance.…
  16. Q1 2015 RESULTS – Eidesvik Offshore Asa – slide 16
    Thanks for Your attention

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