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Q1 2014 EARNINGS CALL – Eidesvik Offshore Asa

Eidesvik Offshore Asa · May 15, 2014 · 13 slides

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Slides

  1. Q1 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 1
    Presentation 1st Quarter 2014 Langevg 15.05.2014 CEO Jan Fredrik Meling
  2. Q1 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 2
    News in 1st Quarter 2014 Lundin Petroleum hires Viking Queen for 15 wells (minimum 900 days) with option for further 5 wells. Commencement of contract is ultimo 2014. The vessel will be upgraded with FI-FI II and NOFO 2009.
  3. Q1 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 3
    1st Quarter 2014 results (1st Quarter 2013 in brackets) Revenues MNOK 220,5 (213,2) EBITDA: MNOK 88,6 (101,6) Operating profit MNOK 26,7 (34,4) Pre-tax profit: MNOK 32,7 (-32,9)
  4. Q1 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 4
    Results 1st Quarter 2014 (in million NOK, Gain on sale excluded) The results in 1st Quarter compared to last year are Operating revenue Q1 influenced of: 230 -Viking Poseidon, Subsea Viking and Viking Queen had yard 220 stays and…
  5. Q1 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 5
    Cash Flow (in million NOK) 1st Quarter 1st Quarter 2014 2013 2013 Net cashflow from operating activities 85,1 46,6 483,0 Net cashflow from investment activities (28,0) (81,7) 110,7 Net cashflow from finance activities (161,0)…
  6. Q1 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 6
    Balance (in million NOK) 6 000 Current assets Short-term liab. Current assets Short-term liab. 5 000 4 000 Long-term liabilities Long-term liabilities 3 000 Fixed assets Fixed assets 2 000 1 000 Equity Equity 0 Assets Equity and…
  7. Q1 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 7
    Segments Incl. Share of Joint Ventures Excluded gain on sale (MNOK) 1st Quarter 2014 Seismic Subsea Supply Other Revenue 71,8 83,3 101,9 5,5 EBITDA 64,5 30,0 39,2 -12,3 Revenue Q4 2013 EBIT 36,5 2,3 8,2 -12,7 EBITDA margin 90% 36%…
  8. Q1 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 8
    Contract backlog (per 31.12.2013) 8
  9. Q1 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 9
    Contract status seismic Viking Vanquish Viking Vision Veritas Viking Viking 2 Veritas Vantage Geo Searcher Oceanic Vega Oceanic Sirius 2014 2015 2016 2017 2018
  10. Q1 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 10
    Contract status subsea Subsea Viking Acergy Viking Viking Poseidon European Supporter Seven Viking Kleven no 365 2014 2015 2016 2017 2018
  11. Q1 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 11
    Contract status supply Viking Queen Viking Lady Viking Athene Viking Energy Viking Avant Viking Nereus Viking Prince Viking Princess 2014 2015 2016 2017 2018
  12. Q1 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 12
    Market We expect high activity in oil service in the next years, although we see some projects being delayed. Still, there is high exploration activity including in deep water areas, and many discoveries are being made. This contributes…
  13. Q1 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 13
    Thanks for Your attention

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