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Q1 2014 EARNINGS CALL – Ganger Rolf

Ganger Rolf · May 15, 2014 · 31 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 2014 EARNINGS CALL – Ganger Rolf – slide 1
    1 quarter 2014 15 May 2014
  2. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 2
    Business segments as of 15 May 2014 62.7% Bonheur ASA (listed OSE) Ganger Rolf ASA (listed OSE) 20.7% Offshore drilling Renewable energy Shipping/Offshore wind Cruise Other investments 51,9% 100% 100% 100% Fred. Olsen…
  3. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 3
    Bonheur ASA - Group of Companies - Highlights 1Q 2014 (1Q 13 in brackets) Operating revenues were NOK 2 700 million (NOK 2 263 million) Operating result before depreciation (EBITDA) was NOK 875 million (NOK 840 million) Operating…
  4. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 4
    Bonheur ASA - Group of companies - Consolidated summary 1Q 14 1Q 13 *) Revenues 2 700 2 263 EBITDA 875 840 EBIT 346 369 Share of result from associates -6 -2 Net finance -173 -41 EBT 167 325 Net result after tax from continuing…
  5. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 5
    Bonheur ASA - Group of Companies - Segment analysis EBITDA 1Q 14 1Q 13 Change Offshore drilling 622 791 -169 Renewable energy 220 113 107 Shipping/Offshore wind 57 -33 91 Cruise 14 1 13 Other -38 -32 -6 Total EBITDA 875…
  6. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 6
    Bonheur ASA - Group of companies - Condensed statement of Financial position (NOK million) Per 31.03.14 Per 31.12.13 Per 31.03.14 Per 31.12.13 Intangible fixed assets 403 417 Deferred tax asset 228 228 Equity owned by…
  7. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 7
    Bonheur ASA - Group of companies - Cash flow statement (NOK million) Per 1Q 14 Per 1Q 13 Net cash flow from operating activities 627 562 Net cash flow from investing activities -3 197 -503 Net cash flow from financing…
  8. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 8
    Ganger Rolf ASA - Group of Companies - Highlights 1Q 2014 (1Q 2013 in brackets) Net result was NOK 39 million (NOK 65 million) Earnings per share were NOK 1.1 (NOK 1.9) Proposed dividend payment for 2013 is NOK 8.40 per share…
  9. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 9
    Ganger Rolf ASA - Group of companies - Consolidated summary 1Q 14 1Q 13 *) Revenues 0 0 EBITDA -16 -10 EBIT -17 -11 Share of result from associates 73 97 Net finance -18 -32 EBT 38 55 Net result after tax from continuing…
  10. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 10
    Ganger Rolf ASA - Group of companies - Segment analysis - Net result (NOK million) Net result per segment 1Q 14 1Q 13 Change Offshore Drilling 38 116 -78 Floating Production / discontinued operations 0 10 -10 Renewable Energy 40…
  11. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 11
    Ganger Rolf ASA - Group of companies - Condensed statement of Financial Position (NOK million) Per 31.03.14 Per 31.12.13 Deferred tax asset 1 1 Property, plant and equipment 35 35 Investments in associates 6 020 6 098 Other financial…
  12. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 12
    Offshore drilling Fred. Olsen Energy ASA
  13. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 13
    Offshore drilling - Financial summary 1 Q 2014 (1Q 2013 in brackets) Revenues were USD 278 million (USD 283 million) EBITDA were USD 102 million (USD 141 million) Operating profit (EBIT) was USD 39 million (USD 79 million)…
  14. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 14
    Offshore drilling - Operating worldwide Bideford Borgland Byford Bredford Borgsten Borgholm Blackford Bollsta - newbuild HE/UDW semi Belford Bolette in transit Borgny 14 14
  15. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 15
    Offshore drilling - Contract overview 2014 2015 2016 2017 2018 2019 2020 Bolette Anadarko Bollsta Chevron Belford Anadarko Blackford 1) 2) Nexen Chevron 3) Borgny Bideford Statoil Borgland RMN consortium Bredford AGR…
  16. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 16
    Offshore drilling - Key financials NOK mill. As per 2 000 (NOK million) Q1 2014 Q1 2013 1 800 Revenues 1 692 1 591 EBITDA 622 791 1 600 EBIT 241 447 EBT 151 469 1 400 Non-current assets 15 804 13 750 1 200 Current assets 4 337 3…
  17. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 17
    Renewable energy Fred. Olsen Renewables AS
  18. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 18
    Renewable energy - Overview Five windfarms in Scotland (356.9 MW) and one in Norway (71.3 MW) in full operation. Mid Hill (57.5 MW): The construction is ongoing and the project is expected to be ready for operation in 2Q14 Mid Hill…
  19. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 19
    Business Model and Project Portfolio Site Investigation Development Consented Construction Operation Scotland Scotland 40-50 MW Scotland Scotland Scotland Crystal Rig III Windy Standard II 75 MW Mid Hill 57.5 MW Crystal Rig 62.5…
  20. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 20
    Renewable energy - Projects in the UK and Ireland 20
  21. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 21
    Renewable energy - Projects in Scandinavia 21
  22. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 22
    Renewable energy - Key financials NOK mill. As per 350 (NOK million) Q1 2014 Q1 2013 Revenues 281 159 300 EBITDA 220 113 EBIT 150 59 250 EBT 108 31 Non-current assets 3 765 2 756 200 Current assets 1 521 1 267 Total assets 5…
  23. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 23
    Shipping / Offshore wind Fred. Olsen Ocean Ltd. - Fred. Olsen Windcarrier AS - Universal Foundation Norway AS
  24. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 24
    Shipping / Offshore wind - Overview Fred. Olsen Windcarrier Two transport and installation vessel for offshore wind turbines; Brave Tern (2012) and Bold Tern (2013) Contracts: Ongoing installation work at the Global Tech I wind farm…
  25. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 25
    Shipping / Offshore wind Key financials NOK mill. As per 350 (NOK million) Q1 2014 Q1 2013 Revenues 300 122 300 EBITDA 57 -33 EBIT 24 -52 250 EBT 6 -61 200 Non-current assets 2 670 2 505 Current assets 917 355 150 Total assets 3 587…
  26. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 26
    Cruise Fred. Olsen Cruise Lines Ltd.
  27. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 27
    Cruise - Overview Owns and operates four cruise ships; MV Black Watch MV Braemar MV Boudicca MV Balmoral Offers a diverse range of cruise holidays from long round the world trips to ex UK cruises to Scandinavia,…
  28. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 28
    Cruise - Key financials As per NOK mill. (NOK million) Q1 2014 Q1 2013 600 Revenues 419 386 EBITDA 14 1 400 EBIT -30 -49 EBT -46 -46 Non-current assets 1 394 1 796 200 Current assets 319 345 Total assets 1 713 2 141 0 Equity 330…
  29. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 29
    Other Investments NHST Media Group AS - Koksa Eiendom AS - Various
  30. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 30
    Other investments - Overview NHST Media Group AS (54.0%) Comprising four main business segments; Dagens Nringsliv, Digital & Nordic (New Media, Europower, TDN), Global (Tradewinds, Upstream, Intrafish and Recharge) and Nautical…
  31. Q1 2014 EARNINGS CALL – Ganger Rolf – slide 31
    www.bonheur.net www.ganger-rolf.com 31

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