First Quarter FY 2012 Earnings Presentation Bristow B i t Group G Inc. I August 9, 2011
First quarter earnings call agenda Introduction Linda McNeill,, Director Investor Relations CEO remarks and operational highlights Bill Chiles, President and CEO Currentt and C d future f t financial fi i l performance f Jonathan…
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
Operational safety review Air Accident Rate* per 100,000 Total Reportable Injury Rate per 200,000 man- Flight g Hours ((Fiscal Year)) hours (cumulative) 1.00 0.40 0.38 0.43 0.50 0.32 0.33 0.34 0.34 0.31 0.28 0.25 2 00 2.00…
Q1 FY12 highlights Q1 Operating revenue of 286.8M (5% increase from Q1 FY11, 5% increase from Q4 FY11) Q1 adjusted EPS * of 0.54 (same as Q1 FY11, 37% decrease from Q4 FY11) Q1 GAAP EPS of 0.57 (same as Q1 FY11, 32% decrease from Q4…
Current market environment Brent remains above 100 in the face of EIA (U.S. Energy Information Administration) reserve release in April p 2011 and the weak g global economyy By the end of 2011, Global Exploration & Production (E&P)…
Quarter-over-quarter changes in Operating Income Operating Income* Q1 FY12 Operating Income* Q1 FY11 Other International 4% Other International Australia 23% 16% Europe 37% Europe 44% North America Australia 11% 9%…
Europe (EBU) Hammerfest Bergen Kristiansund Europe represents 38% of total operating revenue in Q1 FY12 and 44% of operating income Stavanger Operating margin of 21.5% vs 21.4% in prior year quarter Scasta European oil and…
West Africa (WASBU) Warri Osubi Warri Texaco Nigeria represents 18% of total operating Port Harcourt revenue in Q1 FY12 and 21% of operating i income Operating revenue of 52.3M decreased from Escravos Eket 57.7M in Q1 FY11…
Australia (AUSBU) Australia represented 14% of total operating Broome Truscott Darwin BDI provide support revenue in Q1 FY12 and 9% of operating to the Republic of income Singapore Air Force Operating revenue of 40.9M increased…
Other International (OIBU) OIBU represented 12% of total operating revenue and 23% of operating income for Q1 FY12 Operating revenue increased to 34 34.5M 5M from 32 32.6M 6M Operating income increased to 11.9M from 2.3M…
North America (NABU) Operating revenue fell to 43.9M from 52.1M and represented 15% of total operating revenue; Operating income of 1.6M vs. 5.3M in the prior year quarter Operating margin of 3.6% declined from 10.2% in the prior…
Financial discussion Jonathan Baliff, SVP and CFO 14
Financial highlights - Adjusted EPS & EBITDA* Summary Q1 FY11 to Q1 FY12 adjusted EPS bridge Q1 FY11 to Q1 FY12 adjusted EBITDA bridge (in millions) * Adjusted EPS, adjusted operating income and adjusted EBITDA amounts exclude…
Wider scope of Bristow five year growth opportunities 442 aircraft Total Aircraft Opportunities Existing E i ti aircraft New growth 77 aircraft 107 24 279 56 42 5 New replacement 27 aircraft Europe 19 8 24 4 N th A…
Identified 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 on 6 on…
Five year cumulative cash projection with over 700 million available for further growth and capital return 1,121 Operating 1,378 103 leases O Operating ti 497 leases 238 735 116 FY11 balance Operating Asset sales…
Introduction of Client Promise,, LACE & BVA Jonathan Baliff, SVP and CFO 19
We Have Enhanced Our Focus on Value Client Promise Creating client value through differentiation LACE Rate Driving and communicating utilization and revenue productivity Bristow Value Added Delivering shareholder return…
The Client Promise: value through differentiation Target Zero accidents, downtime and complaints programs deliver value to operators operators. More zero-accident zero accident flight hours than anyone anyone, more uptime than…
Introduction to LACE and the LACE Rate Large Aircraft Equivalent (LACE) LACE M Math th LACE normalizes revenue and is 100% per of Large Aircraft functionally similar to BOE in the E&P +50% per of Medium Aircraft business +25%…
Phase II g guidance roll out Phase I EPS g guidance range g ((as of May y 11, 2011; reaffirmed today) y) 3.55 - 3.90, excluding effects of asset dispositions and special items Depreciation and amortization expense 85 90 million…
Introducing BVA, Bristow Value Added BVA is the keyy measure to define B i t Bristow financial success. Value BVA is robust enough to capture: Gross Added Revenue/Pricing Cash After Tax Margins Flow Capital Asset Intensity…
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 1,200 244 1 040 1,040 250 Capital Charge 212 218 1,000 898 189 200 174…
Driving BVA Driving Shareholder Value Strategic Initiative The Client LACE Rate ( per aircraft Promise per year) Revenue X () Changes in Investing in Fleet LACE BVA Expansion (aircraft) () Cost Efficiency Gross Cash Flow…
Conclusions Front-loaded compensation, professional, and training costs in tthe e first st qua quarter te masked as ed significant s g ca t g growth o t in tthe e Ot Other e International Business Unit Reaffirmation of…
Appendix 29
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 30, 2011 Aircraft Type yp No. of PAX Engine g Consl Unconsl Total Ordered Medium capacity 12-16 passengers Large Helicopters AS332L Super Puma 18 Twin Turbine 30 - 30 - Bell 214ST 18…
Aircraft Fleet Small, Training and Fixed As of June 30 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…
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…
Gross Cash Flow Presentation (in millions) Gross Cash Flow Reconciliation h l ili i FY2007 200 FY2008 2008 FY2009 2009 FY2010 20 0 FY2011 20 Net Income 74 104 123 112 132 Depreciation and Amortization 43 54 66 75 91 Interest…
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 g NPV of GE and Norsk…
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 38
Loading...
