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H1 2012 EARNINGS CALL – Saipem Spa

Saipem Spa · Jul 30, 2012 · 21 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. H1 2012 EARNINGS CALL – Saipem Spa – slide 1
    Presentation to the Financial Community First Half 2012 Results July 2012
  2. H1 2012 EARNINGS CALL – Saipem Spa – slide 2
    Presentation Outline 1H 2012 Financial Results and Backlog Breakdown Oil & Gas Industry Market Outlook Analysis of a stable Backlog: Underlying Theme Robust Resilience E&C Onshore Backlog recent evolution E&C Offshore Backlog…
  3. H1 2012 EARNINGS CALL – Saipem Spa – slide 3
    1H 2012 Results 1H 2012 Financial Results and Backlog Breakdown 4
  4. H1 2012 EARNINGS CALL – Saipem Spa – slide 4
    1H 2012 Financial Results (Mln ) Revenues EBITDA % on EBIT Net Profit Revenues % on % on Revenues 1107 (17.3%) Revenues 6397 1013 (16.8%) % on 6021 Revenues 762 (11.9%) 262 (8.7%) 711 (11.8%) 248 (8.6%) 473 3015 114 (32.1%)…
  5. H1 2012 EARNINGS CALL – Saipem Spa – slide 5
    1H 2012 Financial Results (Mln ) Capex Sources and Application of Funds, Net Debt & Leverage 1680 937 Leverage = 0.79 3935 Leverage = 0.66 85 1199 3192 307 59 122 1000 232 509 61 561 10 548 19 421 740 28 64 200 43…
  6. H1 2012 EARNINGS CALL – Saipem Spa – slide 6
    1H 2012 Contract Acquisitions & Backlog (Mln ) Contract Acquisitions Backlog 20417 20323 6006 6303 8005 9604 1416 2077 253 810 405 318 912 3197 349 3301 4229 3262 8311 6600 1H 2011 1H 2012 Dec., 31 11 June, 30…
  7. H1 2012 EARNINGS CALL – Saipem Spa – slide 7
    Backlog Breakdown Saipem Backlog 20.32 Bln June 30, 2012 by Client by Year of Execution 7% 10% 2012 43% 15% 2013 2014 14% 36% 2015+ 47% 28% Major & Supermajor National 2012 Backlog split by Business Unit Independent Others…
  8. H1 2012 EARNINGS CALL – Saipem Spa – slide 8
    1H 2012 Results Oil & Gas Industry Market Outlook 9
  9. H1 2012 EARNINGS CALL – Saipem Spa – slide 9
    Oil & Gas Industry Market Outlook Short Term: E&P Spending Forecast E&P Spending Forecast 700 2011 VS 2012 Forecast at May 2012: +10.5% Postponement of gas infrastructure and development project awards (i.e. GALSI, Bln US…
  10. H1 2012 EARNINGS CALL – Saipem Spa – slide 10
    1H 2012 Financial Results Analysis of a Stable Backlog: Underlying Theme Robust Resilience 11
  11. H1 2012 EARNINGS CALL – Saipem Spa – slide 11
    Analysis of a Stable Backlog: Underlying Resilience Saipem Backlog evolution by Business Unit: E&C + Drilling Saipem E&C Backlog evolution: %Onshore VS %Offshore Bln Diversified portfolio of activities reduces Onshore Business…
  12. H1 2012 EARNINGS CALL – Saipem Spa – slide 12
    E&C Onshore Backlog recent evolution 08-10: steady E&C Onshore Backlog development, thanks to big NOCs contracting services Bln 8.00 10-Present: short term market uncertainties delaying contract awards New industry…
  13. H1 2012 EARNINGS CALL – Saipem Spa – slide 13
    E&C Offshore Backlog recent evolution 08-10: E&C Offshore Backlog shrinkage due to lower IOCs investments Bln 10-Present: signs of an upwards trend in all key geographic markets and segments Year to date awards Short term…
  14. H1 2012 EARNINGS CALL – Saipem Spa – slide 14
    Local Content and Frontier Focus Resilience - Nigeria example Recent awards: Southern Swamp Associated Gas Solution EPC for compression facilities at sites and new gas Central Production facilities Scarabeo 3 Addax Petroleum…
  15. H1 2012 EARNINGS CALL – Saipem Spa – slide 15
    Local Content and Frontier Focus Resilience - Saudi example Recent awards: PetroRabigh II - Naphtha and Aromatics Package Saudi Aramco and Sumitomo Chemical EPC for two processing units: Naptha Reformer Unit and Aromatics Complex…
  16. H1 2012 EARNINGS CALL – Saipem Spa – slide 16
    1H 2012 Results Drilling Resilience and New Opportunities 17
  17. H1 2012 EARNINGS CALL – Saipem Spa – slide 17
    Drilling Offshore long term contracting policy 1/2 Saipem Fleet Commitment 2011- 2017 Floaters 3000ft. AVG dayrate 1H 2012 Saipem 467k Market 403k (Source for Mkt day-rates : ODS-Petrodata) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4…
  18. H1 2012 EARNINGS CALL – Saipem Spa – slide 18
    Drilling Offshore long term contracting policy 2/2 Saipem Fleet: End-of-contract Availability VS Market Outlook Next Saipem Rigs Marketing Period 2011 2012 2013 2014 K Market Floaters 3000ft. Deepwater outlook continues to…
  19. H1 2012 EARNINGS CALL – Saipem Spa – slide 19
    Drilling Onshore New Contracts in Saudi Arabia Onshore Rig Fleet by Client Type New contracts signed with Saudi Aramco for the charter of five 2,000-HP/1,500-HP onshore rigs For periods of 3 to 5 years starting in different…
  20. H1 2012 EARNINGS CALL – Saipem Spa – slide 20
    1H 2012 Results 2012 Guidance mid-year update 21
  21. H1 2012 EARNINGS CALL – Saipem Spa – slide 21
    2012 Guidance mid-year update 2012 Guidance Revenues: 13 bln EBIT: 1.6 bln Net profit: 1 bln Capex: from 0.9 to 1.0 bln due to: 3 onshore rigs for Saudi Aramco expansion of Edmonton Yard in Canada exchange rate…

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