PRESENTATION OF Q3 2014 November 12th 2014 CEO Asle Solheim CFO Henning Nordgulen Hanytangen, November 2014 1
AGENDA Highlights in Q3 14 CEO Asle Solheim Financial and operational review Bergen Group going forward 3
HIGHLIGHTS IN Q3 2014* - GROUP LEVEL (I) Bergen Group ASA Key figures in TNOK Q3 2014 Q3 2013 30.09.2014 30.09.2013 Gross operating revenues 106 581 326 830 395 181 1 027 369 EBITDA 460 14 729 (21 609) 38 106 Depreciation and w rite-dow…
HIGHLIGHTS IN Q3 2014 - GROUP LEVEL (II) Exit from discontinued business completed Remaining 30 % ownership in NorYards sold, with closing in September 2014. Last shipbuilding project performed by Bergen Group finalised in august…
HIGHLIGHTS IN Q3 2014 - GROUP LEVEL (III) Offshore segment with activity increase NOK 350 million rig project awarded by Dolphin Drilling AS, ensuring full capacity utilisation at Hanytangen in Q4 2014. Successful dry-docking of the…
AGENDA Highlights in Q3 14 Financial and operational review CFO Henning Nordgulen Bergen Group going forward 7
INCOME STATEMENT Q3 2014 Condensed consolidated interim statement of income Figures in TNOK Q3 2014 Q3 2013 30.09.2014 30.09.2013 Operating revenues 106 581 326 830 395 181 1 027 369 Cost of goods sold 39 353 214 191 144 552 624 333…
QUARTERLY DEVELOPMENT GROUP LEVEL* *Continued business Stable revenues in the continued operations. Only one minor rig project included in the figures (Q1 2014). High rig-activity in Q4 2014 will generate substantial…
QUARTERLY DEVELOPMENT - SEGMENTS Strong supplementary offshore activity other than rig-services. Q3 revenues in the Offshore segment mainly generated from offshore- and service industries other than rig projects. Improved…
CASH FLOW Condensed consolidated interim statement of cash flow Figures in TNOK Q3 2014 Q3 2013 30.09.2014 30.09.2013 Profit before tax (continued and discontinued operations) (59 844) (56 441) (106 430) (9 477) Depreciation and…
BALANCE AND LIQUIDITY END OF Q3 2014 Balance sheet: Total assets at December 31st 2013: NOK 2 342 million Total assets at September 30th 2014: NOK 1 044 million Equity as at September 30th 2014: NOK 489 million (47 %) Net interest…
AGENDA Highlights in Q3 14 Financial and operational review Bergen Group going forward CEO Asle Solheim 13
GROWTH IN THE ORDER BACK LOG Positive development in the order backlog during the last four quarters; both within Offshore and Services 14
BERGEN GROUP AND THE WAY FORWARD (I) Offshore-segment Decrease in the offshore activity related to the NCS is not expected to have a near- term impact on Bergen Group. Increased tender activity in second half of 2014 compared…
BERGEN GROUP AND THE WAY FORWARD (II) Services Strong order backlog, further growth expected. Solid and varied portfolio in the market; both long term frame contracts and spot projects. Decom Marked potential from phasing out the…
IR AND MEDIA CONTACTS CEO Asle Solheim tel. (+47) 993 28 465 asle.solheimbergengroup.no CFO Henning Nordgulen tel. (+47) 952 65 990 henning.nordgulenbergengroup.no SVP Communications yvind Risnes (media), tel. (+47) 480…
Hanytangen November 2014 THANK YOU FOR YOUR ATTENTION.
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