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Q3 2007 EARNINGS CALL – Bw Offshore

Bw Offshore · Nov 16, 2007 · 23 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. Q3 2007 EARNINGS CALL – Bw Offshore – slide 1
    BW Offshore Q3 2007 presentation 16 November 2007
  2. Q3 2007 EARNINGS CALL – Bw Offshore – slide 2
    BW Offshore overview Among the leading players in the floating production industry 900 employees Strong global position Three business segments: Floating production Technology Installation services Solid track-record 12 FPSO…
  3. Q3 2007 EARNINGS CALL – Bw Offshore – slide 3
    Recent highlights Petrobras contract for first FPSO in US GoM Installation of North East Gateway LNG offshore terminal successfully executed Suez contract for Neptune LNG offshore terminal Installation contract for Q1 2008…
  4. Q3 2007 EARNINGS CALL – Bw Offshore – slide 4
    Comments to the financial results - I Operating revenues All operating FPSOs as per contract Revenue of USD 20 million from bank guarantee in connection with termination of BW Peace contract Still pursuing additional corporate…
  5. Q3 2007 EARNINGS CALL – Bw Offshore – slide 5
    Comments to the financial results - II Depreciation Sale process of BW LPG FPSO I resulted in an extraordinary depreciation of USD 3.6 million Demonstrates costs associated with bid processes All other assets depreciated according…
  6. Q3 2007 EARNINGS CALL – Bw Offshore – slide 6
    Income statement USD million Q3 07 Q2 07 Q3 06 2006 Operating revenues 182.6 265.51 102.92 450.83 Operating expenses 143.4 -229.01 -83.92 -407.33 Profit from associates 6.8 5.2 0.0 0.0 EBITDA 46.0 41.7 19.0 43.5 EBIT 34.5 34.7…
  7. Q3 2007 EARNINGS CALL – Bw Offshore – slide 7
    Balance sheet USD million 30.09.07 30.06.07 30.09.06 31.12.06 Total non-current assets 2,597.8 2,113.8 429.3 440.6 Total current assets 399.7 810.2 411.4 438.4 Total assets 2,997.5 2,924.0 840.7 879.0 Total equity 1,530.5…
  8. Q3 2007 EARNINGS CALL – Bw Offshore – slide 8
    Cash flow USD million Q3 07 Q2 07 Q3 06 2006 Operating activities 51.3 -46.8 -10.5 -4.8 Investing activities 196.4 -233.8 -259.1 -371.5 Financing activities -184.2 192.5 349.5 377.6 Net change in cash 63.5 -88.1 79.9 1.3…
  9. Q3 2007 EARNINGS CALL – Bw Offshore – slide 9
    Key financial figures Q3 07 Q2 07 Q3 06 2006 Equity ratio 51.1% 53.1% 33.3% 43.6% ROE 2.4% 3.2% 4.6% 1.4% ROCE 7.2% 10.0% 2.7% 6.3% NIBD (USDm) 753.1 992.1 279.8 383.6 EPS (USD) 0.04 0.06 0.05 0.02 Number of shares (m)…
  10. Q3 2007 EARNINGS CALL – Bw Offshore – slide 10
    Floating production All units performing well First operational quarter for YUM KAKNAB Conversion candidate LPG FPSO I sold in Q4 2007 USD million Q3 07 Q2 07 Q3 06 2006 Operating revenues 86.4 209.8 102.9 450.8 Profit from…
  11. Q3 2007 EARNINGS CALL – Bw Offshore – slide 11
    Technology Good operational performance Successful installation of NEG LNG offshore terminal Strong order backlog Q2 2007: USD 220 million Q3 2007: USD 232 million USD million Q3 07 Q2 071 Q2 07 Q1 07 2006 Operating revenues…
  12. Q3 2007 EARNINGS CALL – Bw Offshore – slide 12
    High operational leverage Floating production Plan to employ USD 500 to USD 1,000 million annually ROCE on or above 12% Indicative values for USD 400 million project Annual EBITDA USD 65 million NPV of USD 100 million Technology…
  13. Q3 2007 EARNINGS CALL – Bw Offshore – slide 13
    BW Offshore - growth and value BW Offshore is focusing on maximising shareholder values Strong focus on organic growth Winning more and larger contracts with increased profitability Expand product offering Stable cash flows from…
  14. Q3 2007 EARNINGS CALL – Bw Offshore – slide 14
    Capital Markets Day 20 November Ambitious. Reliable. Innovative. 16 November 2007 15
  15. Q3 2007 EARNINGS CALL – Bw Offshore – slide 15
    Global presence Norway Russia Scotland Latvia France USA Bermuda China Mexico India Philippines Nigeria Malaysia Singapore Brazil BW Offshore units APL Technology BW Offshore offices Recruitment centers 16…
  16. Q3 2007 EARNINGS CALL – Bw Offshore – slide 16
    Strong contracted cash flow 2006 2010 2015 2020 2025 Belokamenka (FSO) Russia: Rosneft Sendje Berge Nigeria: Addax Berge Helene Mauritania: Woodside Berge Okoloba Toru Nigeria: Global Yum KakNab Mexico: Pemex Chinook Cascade* US:…
  17. Q3 2007 EARNINGS CALL – Bw Offshore – slide 17
    Units on contract Sendje Berge Addax, Nigeria 60,000 B/D Oil Processing 55 MSCF/D Gas Compression 2,000,000 bbls storage capacity Spread mooring Berge Helene Woodside (Petronas), Mauritania 100,000 B/D Liquids Processing…
  18. Q3 2007 EARNINGS CALL – Bw Offshore – slide 18
    Units on contract Berge Okoloba Toru Global, Nigeria 10,000 B/D Propane/Butane 75,000 m3 storage capacity Spread mooring Belokamenka Rosneft, Russia 2,400,000 bbls storage capacity Spread mooring Cargo heating system…
  19. Q3 2007 EARNINGS CALL – Bw Offshore – slide 19
    FPSOs awaiting contract BW Carmen 40,000 B/D liquids handling capacity 25,000 B/D processing capacity 50,000 bbls storage capacity DP BW Peace 45,000 B/D Oil Processing 25.6 mmscfd Gas Compression 1,000,000 bbls storage…
  20. Q3 2007 EARNINGS CALL – Bw Offshore – slide 20
    Conversion candidates BW Nisa BW Pioneer ULCC (322.000 dwt) Suezmax (155.000 dwt) 2,200,000 bbls storage capacity 1,200,000 bbls storage capacity One of few ULCCs suitable for conversion Built 1976 in Sweden On storage contract with…
  21. Q3 2007 EARNINGS CALL – Bw Offshore – slide 21
    Turn key solutions Production systems Terminal systems Submerged Turret Production Submerged Turret Loading (STL) for (STP) for FPSO LNG and Shuttle Tankers Submerged Turret Loading (STL) Single Anchor Loading (SAL) for for FSO…
  22. Q3 2007 EARNINGS CALL – Bw Offshore – slide 22
    STL LNG terminal systems 13 systems completed or under delivery Three offshore LNG terminal projects with five STL buoys 10 ships set for LNG tankers 16 November 2007 23
  23. Q3 2007 EARNINGS CALL – Bw Offshore – slide 23
    Read more about us www.bwoffshore.com www.apl.no IR contact: Kristian Flaten Manager, Finance and Investor Relations Phone: +47 2313 0360 / +47 2313 0000 / +47 9509 2322 E-mail: kristian.flatenbwoffshore.com 16 November 2007 24

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