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Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa

Eidesvik Offshore Asa · Feb 26, 2015 · 16 slides

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Slides

  1. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 1
    Presentation 4th Quarter 2014 Oslo 26.02.2015 CEO Jan Fredrik Meling
  2. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 2
    News in 4th Quarter 2014 Entered into a 180days contract with Technip for the large subsea construction vessel under construction at Kleven. The vessel, Viking Neptun, will commence the contract primo March 2015. The vessel…
  3. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 3
    News after 31.12.14 Statoil has declared an option to extend the contract for 1 year from April 2015 for the LNG fuelled PSV Viking Energy.
  4. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 4
    4th Quarter 2014 results (4th Quarter 2013 in brackets) Revenues MNOK 259,4 (237,9) EBITDA MNOK 132,0 (135,2) Operating profit MNOK 20,9 (81,0) Pretax profit MNOK 254,7 (35,0) Q4 Profits influenced by disagio (MNOK 246,4) and…
  5. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 5
    Results 4th Quarter 2014 (in million NOK, Gain on sale excluded) Operating revenue Q4 The results in 4th Quarter compared to last year are influenced of: 300 Viking Forcados was sold in 3rd Quarter 2013 and Geo Searcher in 2nd…
  6. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 6
    Results pr 31.12.2014 (in million NOK, Gain on sale excluded) Operating revenue YTD The results YTD compared to last year are influenced of: 1 000 3 vessels with yard stay in 1st Quarter 2014 985 900 943 Viking Forcados was sold…
  7. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 7
    Cash Flow (in million NOK) 4th Quarter 4th Quarter 2014 2013 YTD 2014 YTD 2013 Net cashflow from operating activities 176,7 129,4 537,5 483,0 Net cashflow from investment activities (98,5) (64,6) (113,3) 110,7 Net cashflow from…
  8. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 8
    Balance (in million NOK) 6 000 Current assets Shortterm liab. 5 000 Current assets Shortterm liab. 4 000 Longterm liabilities 3 000 Longterm liabilities Fixed assets Fixed assets 2 000 1 000 Equity Equity 0 Assets Equity and…
  9. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 9
    Segments Incl. Share of Joint Ventures Excluded gain on sale (MNOK) 4th Quarter 2014 Seismic Subsea Supply Other Revenue 75,2 106,7 116,5 6,1 EBITDA 75,2 60,9 41,1 7,6 Revenue Q4 2014 EBIT 3,1 31,2 10,8 8,6 EBITDA margin 100% 57%…
  10. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 10
    Contract backlog (per 31.12.2014) 10
  11. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 11
    Contract status seismic Viking Vanquish Viking Vision Veritas Viking Viking 2 Vantage Oceanic Vega Oceanic Sirius 2015 2016 2017 2018 2019
  12. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 12
    Contract status subsea Subsea Viking Acergy Viking Viking Poseidon European Supporter Seven Viking Viking Neptun 2015 2016 2017 2018 2019
  13. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 13
    Contract status supply Viking Queen Viking Lady Viking Athene Viking Energy Viking Avant Viking Nereus SPOT Viking Prince Viking Princess SPOT 2015 2016 2017 2018 2019
  14. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 14
    Market The market conditions throughout our industry are very challenging. The steep reduction in oil price together with structural cost issues for the oil and gas industry results in uncertainty in our market segments going…
  15. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 15
    Market (cont.) The seismic market is also very challenging. The back log for the main players are low for 2015. We expect more vessel to be retired or laidup. Eidesviks total fixed contracts including pro rata shares of those in Joint…
  16. Q4 2014 EARNINGS CALL – Eidesvik Offshore Asa – slide 16
    Thanks for Your attention

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