Fourth Quarter FY 2011 Earnings Presentation Bristow Group Inc. May 11, 2011
Fourth quarter earnings call agenda Introduction (Linda McNeill, Investor Relations Manager) CEO remarks (Bill Chiles, President and CEO) Financial discussion (Jonathan Baliff, SVP and CFO) O Operational ti hi hli ht (Bill…
Forward-looking statements This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about our future business,…
Chief Executive comments Bill Chiles, President and CEO 4
Aviation Support pp Services KPI History y * Includes commercial operations only 5
Q4 and FY2011 highlights Q4 Revenue of 310M (10% increase from Q4 FY2010, FY 2011 Revenue of 1.233B (6% increase from FY2010) 2% decrease from Q3 FY2011) FY 2011 EPS, excluding special items, of 3.30 (9% increase from Q4 EPS EPS,…
Current market environment Oil prices have fallen from highs but still relatively strong. Lower prices create a more sustainable economic recovery Overall international Exploration & Production (E&P) capital expenditures and…
Q4 2011 YOY Operational p p performance highlights g g Europe Revenue and operating margin is higher year over year due to new customers, increased activity and cost management. West Africa Revenue rose because of new contracts and…
Financial discussion Jonathan Baliff, SVP and CFO 9
Financial highlights Earnings per share summary 4Q FY10 to 4Q FY11 bridge FY10 to FY11 bridge 10
Financial highlights EBITDA summary 4Q FY10 to 4Q FY11 bridge FY10 to FY11 bridge 11
Reconciliation of special items Fourth Quarter FY 2011 & Full Year FY 2011 March 2011 Quarter Diluted Operating Net Earnings Income EBITDA Income Per Share (Unaudited) (In thousands, thousands except per share amounts) Adjusted…
Quarterlyy dividend initiation On May 4, 2011, the Board of Directors of Bristow declared a first quarter cash dividend of 0.15 per share of our common stock. The dividend will be paid on June 10, 2011 to stockholders of record on May…
FY 2012 earnings g gguidance Issuance of annual earnings guidance demonstrates Bristows confidence in our business model anchored by the underlying contractual stability serving mostly offshore production, which makes our operating…
Operational p highlights g g Bill Chiles, President and CEO 15
Quarter-over-quarter changes in Operating Income Operating income for Q4 2011 is 50.5M Operating income for Q4 2010 is 42.8M * Excludes centralized operations, p , corporate, p ,g gain on sale of assets,, and Bristow…
Europe (EBU) Hammerfest Europe represents 41% of total revenue in Q4 Bergen Kristiansund FY11 and 39% of operating income Stavanger Operating O ti margin i off 18.8% 18 8% vs. 18 18.1% 1% iin prior i year quarter Increase…
West Africa (WASBU) Warri Osubi Warri Texaco Port Harcourt Nigeria represents 18% of total revenue in Q4 FY11 The image cannot be display ed. Your computer may not hav e enough memory to open the image, or the image may hav e been…
Australia (AUSBU) Australia represented 15% of total revenue in Q4 FY11 and 13% of operating income Broome Truscott Darwin BDI provide support Revenue of 45M increased from 34M on to the Republic of strong activity levels Singapore…
Other International (OIBU) OIBU represented 12% of total revenue and 27% of operating p g income for Q4 FY11 Revenue increased to 37.3 from 32.1M Operating income to 17.1M from 0.6M Operating margin was 45.8% vs 1.9% in the prior…
North America (NABU) Revenue fell to 40.1M from 45.5M and represented 13% of total revenue Operating loss of 1.6M vs. operating income of 1M Operating margin of negative 4% declined from 2.2% in the p prior yyear q quarter…
Summary Bristow had an excellent FY2011 with promises made and kept in safety, operations ti and d fifinancial i l performance. f Strong cash flow generation has supported dividend initiation to common shareholders. We see…
Appendix 23
Organizational Chart - as of March 31, 2011 Operated Aircraft Bristow owns and/or operates 373 aircraft as of March 31, 2011 Affiliated Aircraft Key Bristow affiliates and joint ventures operate 196 aircraft Corporate as of…
Aircraft Fleet Medium and Large As of March 3131, 2011 Aircraft Type yp No. of PAX Engine g Consl Unconsl Total Ordered Medium capacity 12-16 passengers Medium Helicopters AW139 12 Twin Turbine 7 4 11 - Bell 212 12 Twin Turbine 3…
Aircraft Fleet Small, Training and Fixed As of March 31, 31 2011 (continued) Aircraft Type No. of PAX Engine Consl Unconsl Total Ordered Small Helicopters Small capacity 4-7 passengers Bell 206B 4 Turbine 2 2 4 - Bell 206 L-3 6…
Consolidated Fleet Changes and Aircraft Sales for FY 2011 Q 1 FY11 Q2 FY 11 Q 3 FY11 Q4 FY 11 Total of A/C Cash Gain/ Fleet Count Beginning Period 390 384 379 378 390 Sold Received(1) Loss(1) Delivered Q1 FY 11 5 3,770 1,585…
Reconciliation of Special Items Fourth Quarter FY2010 & Full Year FY2010 March 2010 Quarter Diluted Operating Net Earnings Income EBITDA Income Per Share (Unaudited) (In thousands, except per share amounts) Adjusted for special…
Reconciliation of Special Items Notes (1) Represents additional depreciation expense recorded as a result of the impairment of previously capitalized internal software costs as the related project was abandoned in the March 2011…
EBITDA and EBITDAR Reconciliations ( in millions) March 31, 2000 2001 2002 2003 2004 Income from continuing operations 8.8 27.9 42.5 40.3 49.6 Income tax expense 3.8 13.3 19.1 17.5 18.5 Interest expense p 18.5 18.4 15.8 14.9 16.8…
ROCE Reconciliation Fiscal Year 2007 31-Mar-06 30-Jun-06 30-Sep-06 31-Dec-06 31-Mar-07 Numerator: Total assets 1,176.4 1,239.8 1,469.1 1,517.8 1,505.8 EBITDA 163.5 (-) Assets discountinued operations (27.4) (28.4) (23.8) (26.0) (26.2)…
Leverage Reconciliation Debt Investment Capital Leverage (a) (b) (c) = (a) + (b) (a) / (c) As of March 31, 2011 707.5 1,518.8 2,226.3 31.8% Adjust for: Unfunded Pension Liability 99.6 99.6 NPV off G GE and Norsk Lease…
Contact Us Bristow B i t Group G Inc. I (NYSE: (NYSE BRS) 2000 West Sam Houston Parkway South Suite 1700, Houston, Texas 77042 t 713.267.7600 f 713.267.7620 bristowgroup.com 35
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