Hodges Capital 13th Annual Investment Forum Bristow Group Inc. August 31, 2011
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,…
Bristow is the leading provider of helicopter transportation services to the global offshore industry Bristow flies crews and light cargo to production platforms, vessels and rigs 67 275 20 countries Ticker: BRS 571…
Strategically positioned for global growth 1 or 2 market position in the major oil and gas provinces: North Sea, GoM, Australia, West Africa and Brazil Industry-leading safety performancethe key customer requirement New-technology…
Industry-leading safety record creates marketing and cost advantage 3-year average air Safety is the primary core value accident rates* Target Zero safety vision changes culture and behavior to per 100K flight hours achieve:…
Bristow services are utilized in every phase of offshore oil and gas activity with focus on production Typical revenues by segment Largest share of revenues (60%) relates to oil and gas production, ensuring stability and Other 10%…
Contract structure results in a more predictable cash flow streams and business model strength In most markets, Bristow earns 65% of revenue without flying Two tiered contract structure includes both: Fixed or monthly fee to reserve…
The Client Promise: Improving contract value through differentiation Target Zero accidents, downtime and complaints programs deliver value to operators. More zero-accident flight hours than anyone, more uptime than anyone, and…
Wider scope of Bristow five year growth opportunities 442 aircraft Total Aircraft Opportunities Existing aircraft New growth 77 aircraft 107 24 279 56 42 5 New replacement 27 aircraft Europe 19 8 24 4 North America 30…
Identified growth opportunities for the next five years while maximizing optionality 442 aircraft opportunities identified 335 demand for New aircraft 112 expected win rate based on market share 67 built into 5 year plan 11…
Introduction to LACE and the LACE Rate to describe revenue growth and productivity Large Aircraft Equivalent (LACE) LACE Math LACE normalizes revenue and is 100% per of Large Aircraft functionally similar to BOE in the E&P +50% per…
Introducing BVA, Bristow Value Added BVA is the key measure to define Bristow financial success. Value Gross BVA is robust enough to capture: Added Revenue/Pricing Cash After Tax Margins Flow Capital Asset Intensity Charge…
Driving BVA Driving Shareholder Value Through growth and efficiency Strategic Initiative LACE Rate The Client Promise ( per aircraft per year) Revenue X () Changes in Investing in Fleet LACE BVA Expansion (aircraft) () Cost…
Financial Indicators and BVA trends Gross Revenue Gross Cash Flow and Capital Charge 1,400 (in millions) (in millions) 1,233 300 1,134 1,168 GCF 257 267 1,200 1,040 250 Capital Charge 244 218 1,000 898 212 189 200 174 173…
Bristow Group FY12 guidance Phase I EPS guidance range (as of May 11, 2011; reaffirmed today) 3.55 - 3.90, excluding effects of asset dispositions and special items Depreciation and amortization expense 85 90 million SG & A expense…
Five year cumulative cash projection with over 700 million available for further growth and capital return 1,121 Operating 1,378 103 leases Operating 497 leases 238 735 116 FY11 balance Operating Asset sales Aircraft…
Investment highlights Deliver on the Brand promise though the safest and most valuable services Adhere to a prudent balance sheet management philosophy- always Employ a disciplined capital allocation framework using BVA Create a…
Contact us Bristow Group Inc. (NYSE: BRS) 2000 West Sam Houston Parkway South Suite 1700, Houston, Texas 77042 t 713.267.7600 f 713.267.7620 bristowgroup.com/investorrelations 19
Appendix Appendix 20
Organizational chart - as of June 30, 2011 Operated Aircraft Bristow owns and/or operates 372 aircraft as of June 30, 2011 Affiliated Aircraft Key Bristow affiliates and joint ventures operate 199 aircraft Corporate as of…
Aircraft fleet medium and large as of June 30, 2011 Aircraft Type No. of PAX Engine Consl Unconsl Total Ordered Medium capacity 12-16 passengers Large Helicopters AS332L Super Puma 18 Twin Turbine 30 - 30 - Bell 214ST 18 Twin…
Aircraft fleet small, training and fixed as of June 30, 2011 (continued) Aircraft Type No. of PAX Engine Consl Unconsl Total Ordered Small Helicopters Bell 206B 4 Turbine 2 2 4 - Bell 206 L-3 6 Turbine 4 6 10 - Small capacity 4-7…
Consolidated fleet changes and aircraft sales for Q1 FY12 Q 1 FY12 Total of A/C Cash Fleet Count Beginning Period 373 373 Sold Received* Gain/ Loss* Delivered Q1 FY 12 3 2,478 1,525 EC225 2 2 0 Totals 3 2,478 1,525 Total Delivered…
Gross cash flow presentation (in millions) Gross Cash Flow Reconciliation FY2007 FY2008 FY2009 FY2010 FY2011 Net Income 74 104 123 112 132 Depreciation and Amortization 43 54 66 75 91 Interest Expense 11 24 35 42 46 Interest Income (9)…
Operating margin trend As reported in prior periods (operating income/gross revenue) 2008 2009 2010 2011 2012 Full Year Full Year Full Year Q1 Q2 Q3 Q4 FY Q1 EBU 23.6% 19.3% 17.0% 18.0% 18.4% 19.6% 18.8% 18.8% 17.3% WASBU 17.9% 21.5%…
Leverage reconciliation Debt Investment Capital Leverage (a) (b) (c) = (a) + (b) (a) / (c) (in millions) As of June 30, 2011 732.4 1,538.7 2,271.1 32.2% Adjust for: Unfunded Pension Liability 98.1 98.1 NPV of GE and Norsk Lease…
Contact us Bristow Group Inc. (NYSE: BRS) 2000 West Sam Houston Parkway South Suite 1700, Houston, Texas 77042 t 713.267.7600 f 713.267.7620 bristowgroup.com 29
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