Earnings Presentation Fourth Quarter and Full Year 2010 February 23, 2011 3:00pm UK time
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…
2010 an excellent year 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 continued to improve We have…
2010 an excellent year Investment focused on core assets; vessels with high technical specifications Acergy: Good progress on Borealis construction delivery expected H1 2012 Good progress on joint venture new builds - Seven…
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…
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 23-Feb-11 Page 7
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…
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…
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…
Subsea 7 Inc. Subsea 7 Inc. unaudited financial statements highlights for the year financial and the quarter ended December statements 31, 2010 23-Feb-11 Page 11
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…
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…
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…
Market Update Combination 23-Feb-11 Page 15
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…
Combination completed on January 7, 2011 Combination of Acergy S.A. and Subsea 7 Inc. completed on January 7, 2011. At which point Acergy S.A. was renamed Subsea 7 S.A. We are working with the OFT in the UK and are making progress on…
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)…
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…
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…
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…
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…
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…
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…
Appendix: Additional Subsea 7 Inc. financial Subsea 7 Inc. highlights 23-Feb-11 Page 28
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 23-Feb-11 Page 29
Subsea 7 Inc. Backlog (2/2) Year of Execution 1,527M 2,800M 694M 329M 250M Lump Sum Day Rate 23-Feb-11 Page 30
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)…
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…
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