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MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa

Subsea 7 Sa · Mar 10, 2011 · 50 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. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 1
    Investor Presentation March 2011
  2. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 2
    We are focused on delivering value to shareholders March 2011 Page 3
  3. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 3
    Subsea 7 provides a full spectrum of seabed-to-surface services SURF: Subsea, Umbilicals, Life-of-Field Conventional Risers and Flowlines (Survey/IMR) FY10 Revenue FY10 Backlog FY10 Revenue FY10 Backlog FY10 Revenue FY10…
  4. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 4
    Our global resources are deployed in all major offshore locations North Sea, Mediterranean & Canada (NSMC) supports a diverse range of projects in the UK, Norwegian, Danish, Dutch and Russian sectors of the North Sea, Norwegian Sea…
  5. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 5
    Our specialist expertise is focused on seabed-to-surface operations March 2011 Page 6
  6. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 6
    Deepwater and challenging environments: a growing global market Successful exploration campaigns / large reserves: Demand fundamentals are good Deepwater represents significant and growing proportion of hydrocarbon reserves Access to…
  7. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 7
    Deepwater and challenging environments: a growing global market Established Developing New frontiers March 2011 Page 8
  8. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 8
    Market Update Conventional activity in West Africa is expected to remain strong in the short and medium-term. We expect contracts to come to market award in 2011 although timing remains difficult to predict. SURF activity: Order…
  9. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 9
    Reflecting on 2010 Both Companies have had an excellent year and delivered good results driven by strong operational performances Results were positively impacted by a number of factors: Execution of contracts signed prior to 2009…
  10. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 10
    2010 strong project execution drove profitability Africa and Gulf of Mexico Asia Pacific & Middle East SURF Project Block 15, offshore Angola completed SURF Project Santos Henry offshore Australia completed SURF Project PazFlor…
  11. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 11
    Our new beginning: positioned for profitable growth We have achieved more than delivering good results, we have prepared the future We are very well positioned for short and long-term profitable growth: Our safety results have…
  12. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 12
    Creating a global leader in seabed-to-surface engineering, construction and services A market value of 9 billion and a global organisation of 12,000 people The capability and resources to address the worldwide growth in size and…
  13. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 13
    Enhanced revenue and backlog diversification Revenue1 Backlog2 3.0bn 1.8bn 1.5bn 1.6bn 1.7bn 0.7bn 0.4bn 0.4bn AFGoM NSMC Brazil APME AFGoM NSMC Brazil APME Subsea 7 S.A. (formerly Acergy S.A.) Subsea 7 Inc…
  14. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 14
    Investment focused on core assets, with high technical specifications Acergy: Good progress on Borealis construction delivery expected H1 2012 Good progress on joint venture new builds - Seven Havila, our newbuild diving support…
  15. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 15
    Consistent Strategy and Priorities We remain focused on key markets with long-term, strong and sustainable growth characteristics; markets where we can differentiate ourselves, markets were we can achieve profitable growth Our…
  16. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 16
    Appendices Financial Highlights March 2011 Page 17
  17. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 17
    Subsea 7 S.A. (Formerly Acergy S.A.) performance history since 2007 Continuing operations Revenue (m) Backlog (bn) EBITDA % 22.7% 23.6% 3.6 22.1% 2,406 2,522 2,369 2,209 2.8 2.8 18.2% 2.5 FY07 FY08 FY09 FY10 FY07 FY08 FY09…
  18. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 18
    Financial highlights Subsea 7 SA Subsea 7 Inc (formerly Acergy SA) Twelve Months Ended Twelve Months Ended Nov.30.10 Nov.30.09 Dec.31.10 Dec.31.09 In millions, except EBITDA margin Audited Audited Unaudited Audited Continuing…
  19. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 19
    Major project recognition Major projects (100m) account for over 80% of backlog Good project execution will lead to release of contingencies at end of the project March 2011 Page 20
  20. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 20
    One of the worlds most versatile fleets of 42 vessels Extensive infrastructure of Appendices pipeline spoolbases, fabrication and operations support yards A fleet of over 150 ROVs March 2011 Page 21
  21. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 21
    Pipelay/heavy lift assets March 2011 Page 22
  22. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 22
    Construction/flexlay assets March 2011 Page 23
  23. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 23
    Construction/flexlay (horizontal) assets March 2011 Page 24
  24. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 24
    Diving assets March 2011 Page 25
  25. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 25
    IMR & Survey assets March 2011 Page 26
  26. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 26
    Our ROV* fleet Work Class ROVs Observation Class ROVs *including i-Tech ROVs, a division of Subsea 7 March 2011 Page 27
  27. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 27
    Our operational facilities Spoolbases Fabrication Yards March 2011 Page 28
  28. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 28
    Subsea 7 S.A. (formerly Acergy Subsea 7 S.A. S.A.) financial statements financial highlights for the year and the statements quarter ended November 30, 2010 March 2011 Page 29
  29. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 29
    Subsea 7 S.A. (formerly Acergy S.A.) Income statement highlights Three Months Ended Twelve Months Ended In millions, except Adjusted EBITDA margin, share Nov.30.10 Nov.30.09 Nov.30.10 Nov.30.09 and per share data Unaudited Unaudited…
  30. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 30
    Subsea 7 S.A. (formerly Acergy S.A.) Cash flow highlights Year Ended Year Ended Nov.30.10 Nov.30.09 In millions Audited Audited Net income 313.0 265.7 Depreciation, amortisation & impairment 123.2 145.6 Non-cash items 26.5 126.3…
  31. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 31
    Subsea 7 S.A. (formerly Acergy S.A.) Balance sheet highlights In millions as at November November 30, 2010 30, 2009 Audited(1) Audited (1) Property, plant and equipment 1,278.8 821.8 Interest in associates and joint ventures…
  32. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 32
    Subsea 7 Inc. Subsea 7 Inc. unaudited financial statements highlights for the year financial and the quarter ended December statements 31, 2010 March 2011 Page 33
  33. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 33
    Subsea 7 Inc. Income statement highlights Three months ended Year ended 31/12/10 31/12/09 31/12/10 31/12/09 (Amounts in USD millions) Unaudited Unaudited Unaudited Audited Revenue 509.2 538.2 2,022.7 2,439.3 Adjusted EBITDA…
  34. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 34
    Subsea 7 Inc. Cash flow highlights Year ended 31/12/10 31/12/09 (Amounts in USD 1,000) Unaudited Audited Net profit 161,848 288,351 Non-cash income statement items 256,569 254,527 Changes in working capital (144,689) 97,099…
  35. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 35
    Subsea 7 Inc. Balance sheet highlights At 31/12/10 At 31/12/09 (Amounts in USD 1,000) Unaudited Audited Assets Non-current assets 1,368,312 1,306,219 Cash and cash equivalents 458,906 487,251 Other current assets 688,933 720,739…
  36. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 36
    Appendices March 2011 Page 37
  37. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 37
    Additional Subsea 7 S.A. Appendix: (formerly Acergy S.A.) financial Subsea 7 S.A. highlights March 2011 Page 38
  38. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 38
    Subsea 7 S.A. (formerly Acergy S.A.) Major project progression Continuing projects 100m between 5% and 95% complete as at November 30, 2010 excl. long-term ship charters Block 17 (Angola) ALNG (Angola) PazFlor (Angola)…
  39. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 39
    Subsea 7 S.A. (formerly Acergy S.A.) Backlog In millions as at: Nov.30.10 Aug.31.10 Nov.30.09 (1) Backlog 3,552 3,496 2,848 (2) Pre-backlog 255 214 249 (1) Backlog excludes amounts related to discontinued operations as of…
  40. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 40
    Subsea 7 S.A. (formerly Acergy S.A.) Segmental analysis: 12 months ended November 30, 2010 For the twelve months Territory 1 Territory 2 ended November 30, 2010 Total Acergy Acergy Acergy Acergy Acergy Acergy Audited continuing…
  41. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 41
    Subsea 7 S.A. (formerly Acergy S.A.) Segmental analysis: 3 months ended November 30, 2010 For the three months Territory 1 Territory 2 ended November 30, 2010 Total Acergy Acergy Acergy Acergy Acergy Acergy Unaudited continuing…
  42. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 42
    Subsea 7 S.A. (formerly Acergy S.A.) Adjusted EBITDA The Group calculates adjusted earnings before interest, income taxation, depreciation and amortisation (Adjusted EBITDA) from continuing operations as net income from continuing…
  43. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 43
    Subsea 7 S.A. (formerly Acergy S.A.) Reconciliation of net income to adjusted EBITDA Three-Months Ended Three-Months Ended Nov 30, 2010 Nov 30, 2009 Total Total In millions (except percentages) Continuing Discontinued Continuing…
  44. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 44
    Subsea 7 S.A. (formerly Acergy S.A.) Reconciliation of net operating income to adjusted EBITDA Three-Months Ended Three-Months Ended Nov 30, 2010 Nov 30, 2009 Total Total In millions (except percentages) Continuing Discontinued…
  45. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 45
    Appendix: Additional Subsea 7 Inc. financial Subsea 7 Inc. highlights March 2011 Page 46
  46. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 46
    Subsea 7 Inc. Backlog (1/2) By Region By Contract Type 2,800M 2,798M 2,800M 2,798M 31 Dec 2010 31 Dec 2009 Lump Sum Day Rate March 2011 Page 47
  47. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 47
    Subsea 7 Inc. Backlog (2/2) Year of Execution 1,527M 2,800M 694M 329M 250M Lump Sum Day Rate March 2011 Page 48
  48. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 48
    Subsea 7 Inc. Segmental analysis North Asia (Amounts in USD 1,000) North Sea Africa Brazil Global Total America Pacific Fourth quarter 2010 (Unaudited) Revenue 204,980 114,976 127,353 22,856 38,991 - 509,156 Profit/(loss)…
  49. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 49
    Subsea 7 Inc. Reconciliation of net profit to adjusted EBITDA Three months Year ended ended 31/12/10 31/12/09 31/12/10 31/12/09 (Amounts in USD 1,000) Unaudited Unaudited Unaudited Audited Net profit attributable to equity…
  50. MARCH 2011 INVESTOR PRESENTATION – Subsea 7 Sa – slide 50
    seabed-to-surface www.subsea7.com 10.01.11 Page 51

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