Q4 2014 EARNINGS CALL – Havila Shipping

Havila Shipping · Jan 31, 2014 · 22 slides

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Slides

Havila Shipping ASA 4th quarter 2014 accounts Preliminary 2014 accounts 31.01.14 CEO Njl Svik CFO Arne Johan Dale
Highlights Signed contracts 2.9 billion Contract coverage for 2014 cover expenses Contract backlog 3.5 billion Bank financing with maturity in 2014 refinanced Tax assessment changes appealed tax amount booked in the accounts…
Facts and Figures Q4 Q4 13 Mill NOK Q4 12 Mill NOK Freight income 360 Freight income 311 Total income 360 Total income 341 EBITDA (adjusted) 171 EBITDA (adjusted) 202 EBITDA margin 48 % EBITDA margin 59 % Utilization 90,7%…
Facts and Figures /Highlights 2013 Mill NOK 2012 Mill NOK Freight income 1 436 Freight income 1 332 Total income 1 459 Total income 1 413 EBITDA (adjusted) 710 EBITDA (adjusted) 609 EBITDA margin 49 % EBITDA margin 43 %…
Main figures NOK mill Q4 2013 Q3 2013 Q2 2013 Q1 2013 Q4 2012 Income and gains 360,2 401.5 367.1 330.4 340.8 EBITDA 171,3 47,6% 214.5 53.4% 182.8 49.8% 135.6 41.0% 201.9 59.2% Pre tax result 4,3 1,2% 75.8 18.9% 33.0 9.0% -19.6 -5.9%…
Interest bearing debt NOK m illio n s NOK m ill Q4 1 3 Q3 1 3 Q2 1 3 Q1 1 3 Q4 1 2 Long term debt Langsiktig gjeld 4 827 5 341 5 184 5 371 5 525 Next years instalments Neste rs avdrag 1 106 698 923 730 736 To t al To t al 5 933 6 038…
Refinancing activities 800 715 700 633 600 500 400 300 300 150 200 100 45 48 45 48 - Q1 14 Q2 14 Q3 14 Q4 14 Balloon repayment Refinanced BOND Refinancing activity during 2013 indicates increasing secured capacity 7
Modern fleet Value adjusted fleet age: 5 years, 5 month Market value Fleet value: BNOK 8.3 5% 7% Not including Havila Troll Booked value Fleet value: BNOK 7.5 Excess value: BNOK 0.8 Long term financing 88 % Secured : BNOK 4.9…
Debt to Market value 9 000 100 % 8 000 90 % 2 181 2 233 2 357 80 % 7 000 1 974 70 % 6 000 60 % 5 000 50 % 4 000 40 % 3 000 30 % 2 000 20 % 1 000 10 % 0 0% Q4 11 Q4 12 Q2 13 Q4 13 Q4 11 Q4 12 Q2 13 Q4 13 Secured…
Quarterly income 450 400 350 300 51 250 401 384 380 200 367 361 360 357 354 341 340 298 150 258 100 50 - Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1…
- 100,0 110,0 120,0 130,0 150,0 160,0 170,0 180,0 190,0 200,0 210,0 220,0 230,0 240,0 250,0 140,0 10,0 20,0 30,0 40,0 50,0 60,0 70,0 80,0 90,0 Q1 11 96,2 39,2 61,2 23,0 Q2 11 102,9 43,6 61,2 17,4…
Operating profit from segments 2013 111 120 8% 110 28% AHTS 100 PSV 29% 90 RRV 76 75 80 SubSea 70 70 -3% 37% Asia 62 56 60 53 53 51 51 50 49 50 40 40 2012 29 8% 26 30 10 % 16 16…
Contractual coverage Fleet utilization (time charter fleet) 90% Q4 11: 92% 1% 80% 6% Q1 12: 94% 70% 11% 12% 14% Q2 12: 93% 60% 24% Q3 12: 93% 50% 31% 85% 81% 40% 75% 71% Q4 12: 90%…
Contract backlog 1400 79 1200 1000 231 334 800 1 176 427 631 600 840 412 400 677 393 329 200 316 275 264 256 184 0 Q1 14 Q2 14 Q3 14 Q4 14 2014…
Key figures Q4 13 Q3 13 Q2 13 Q1 13 Q 4 12 Number of shares (1000) Antall aksjer (1000) 30 180 30 180 30 180 30 180 29 743 Average number of shares Gj.sn. Antall aksjer 30 180 30 180 30 180 29 932 21 820 Diluted number of shares…
Assets 10 000 100 % 9 000 90 % 870 831 814 841 742 8 000 1 022 80 % 793 897 812 162 814 147 94 93 98 7 000 166 219 216 212 224 70 % 1 068 1 759 6 000 60 % 145 5 000 142 50 % 7 653 7…
- 10 000 1 000 2 000 3 000 4 000 5 000 6 000 7 000 9 000 8 000 Equity Q1 11 1 641 4 473 728 Q2 11 1 571 4 387 778 Q3 11 1 832 5 485 855 Q4 11 1 809 5 514 630 Q1 12 1 809 5 327 791 Long term debt Q2 12 1 782…
Vessels in Spot Market in Q1/Q2 AHTS Havila Venus Havila Jupiter Havila Neptune PSV Havila Clipper Havila Crusader (late March)
Market comments Demand in place Subsea Record backlog for clients AHTS Volatile Spot market Vessels leaving the spot-market Few new-builds PSV High tender activity Few North See new-builds 19
This is Havila Shipping ASA Head-office in Fosnavg, Norway Offices in Rio Labuan Aberdeen Partnership with PACC Offshore in Singapore A fleet of 27 vessels 800 offshore staff 42 onshore Strong operating track record A…
Largest shareholders Shareholder/Aksjonr Address/Adresse Shares/Aksjer Interest/Shares Havila Holding AS FOSNAVG 15 227 130 50,5 % Odin Offshore OSLO 2 042 500 6,8 % Pareto Aksje Norge OSLO 1 731 981 5,7 % Torghatten ASA BRNNYSUND 1 223…
Summary 2013 a record breaking year for Havila Shipping Main indicators points toward another good year in 2014. Already covered full year opex and interest expenses AHTS: Few new-builds Continuing low interest rate No unfinanced…

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