Third Quarter FY 2011 Earnings Presentation Bristow Group Inc. February 3, 2011
Third quarter earnings call agenda Introduction (Linda McNeill, Investor Relations Manager) CEO Remarks (Bill Chiles, President and CEO) Financial highlights (Jonathan Baliff, SVP and CFO) Operational highlights (Bill Chiles,…
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
Operational p safety y review Air Accident Rate* per 100,000 Flight Hours FY11 Lost Work Case Rate per 200,000 (Fiscal Year) manhours (cumulative) 2 00 2.00 0 50 0.50 0.21 0.16 0.13 0.16 0.14 0.13 0.15 0.00 0.00 0.00 A M J…
3Q FY2011 highlights 3Q Earnings per share of 1.13 YTD Earnings per share of 2.77 6.6% increase from 2QFY11 19.4% increase from 9 months ended 3QFY10 52.7% 52 7% iincrease ffrom 3QFY10 3Q Operating income of 46.6M YTD Operating…
Current market environment Oil price strength continues for multiple reasons Overall international Exploration & Production (E&P) capital expenditure and operating expenditure growth Recovered in calendar 2010, modest in 2011, and…
Operational performance highlights Europe Revenue is higher year over year due to better contracting with better operational margins due to efficiency ff gains and higher equity earnings West Africa Revenue down, but margins are…
Consolidated Fleet Changes g as of December 31, 2010 Q1 FY2011 Q2 FY2011 Q3 FY2011 Total Fleet Count Beginning Period 390 384 379 390 Delivered Agusta AW 139 1 1 2 4 Sikorsky S-92 S 92 1 1 Added 1 1 3 5 Removed (1) (7) (6) (4)…
Financial highlights Jonathan Baliff, SVP and CFO
Financial highlights Earnings per share summary 3Q FY10 to 3Q FY11 bridge 0.46 0.26 0.25 0.08 1.21 1.13 1.13 1.00 0.74 0.74 Q3FY2010 Operations Taxes Corporate and Other FX Changes Q3FY2011 9 months Q3 FY10 to 9 months…
Financial highlights EBITDA summary 3Q FY10 to 3Q FY11 bridge 12.4 7.2 4.0 64.4 64.4 69.6 65.6 65.6 Q3FY2010 Operations Corporate and Other FX Changes Q3FY2011 9 months Q3 FY10 to 9 months Q3 FY11 bridge 20.5 4.6…
Historical cash flow from operations less all capex Historical cash flow from operations less capex ( millions) 9 9 (4) (13) (24) (43) (45) (51) (61) (101) (122) Q1FY09 Q2FY09 Q3FY09 Q4FY09 Q1FY10 Q2FY10 Q3FY10 Q4FY10…
Our new 375 million secured bank credit facility aligns well with our financial strategy 175 million 5-year revolver and 200 million 5-year term loan with a 100 million accordion feature Term loan proceeds and revolver borrowings were…
Prudent balance sheet management Capital Structure 175 million Revolver November 2015 8 million in short-term borrowings and current portion of debt Total capitalization 717.5 million in long-term debt 2.2 billion 36 million shares…
Other financial information and guidance revisions Capital allocation framework Prudent balance sheet management is a core principle Total liquidity maintained at 200-250 million Best risk/return opportunities attract Bristow…
Operational p highlights g g Bill Chiles, President and CEO
Quarterly changes Quarter on quarter changes: Operating Income* Q3 FY2011 Other North 3% increase in the operating income in Europe is due to IInternational t 19% ti l America 3% higher equity earnings from our military…
Europe (EBU) Hammerfest Bergen Europe represents 42% of total revenue in Q3 Stavanger FY11 and 41% of operating p g income Operating margin 19.6% vs. 16.1% in prior year quarter Increase in activity with three new client…
West Africa (WASBU) Warri Port Harcourt Nigeria represents 17% of total revenue in Q3 FY11 and 26% of operating income Operating margin 29.8% in Q3 FY11 vs. 25.5% Q3 Escravos Eket prior year Revenue of 53.7M decreased from 58.7M…
Australia (AUSBU) Australia represented 13% of total revenue in Broome Truscott Darwin BDI provide support to the Republic of Q3 FY11 and 11% of operating income Singapore Air Force Operating margin 17.2% vs. 24.5% for the prior…
Other International (OIBU) OIBU represented 13% of total revenue and 19% of operating p g income for Q3FY11 Operating margin was 27.7% vs. 15.5% for the prior year quarter Revenue increased to 41.9 from 33.3M Operating income to…
North America (NABU) Represented 15% of total revenue and 3% of p operatingg income in Q3 FY11 Operating margin of 4.2% for Q3 FY11 up from 3.3% for the prior year quarter Revenue of 45.6M flat from 45.7M Operating income of 1.9M…
Summary Bristow continues to deliver on our FY11 promises with third quarter earnings performance improving both year over year and sequentially. Our medium to long term outlook remains strong given better market dynamics. Open for…
Appendix 25
Organizational Chart - as of December 31, 2010 Bristow NABU EBU WASBU AUSBU OIBU BRS Academy 15%* 39% 17% 13% 14% 2% U.S. GoM 89/7 UK 38/3 Nigeria g 46/10 Australia 35/8 Mexico 21/5 Florida 56/1 Alaska 15/3 Brazil 6/9…
Aircraft Fleet Medium and Large As of December 31 31, 2010 Aircraft Medium capacity 12-16 passengers Type No. of PAX Engine Consl Unconsl Total Ordered Medium Helicopters AW139 12 Twin Turbine 7 4 11 - Bell 212 12 Twin Turbine 3 22…
Aircraft Fleet Small, Training and Fixed As of December 31 31, 2010 (continued) Aircraft Type No. of PAX Engine Consl Unconsl Total Ordered Small S ll Helicopters H li t Small capacity 4-7 passengers Bell 206B 4 Turbine 2 2 4 -…
EBITDA and EBITDAR Reconciliations ( in millions) March 31, 2000 2001 2002 2003 2004 Income from continuing operations 8.8 27.9 42.5 40.3 49.6 Income tax expense 3.8 13.3 19.1 17.5 18.5 Interest expense 18 5 18.5 18 4 18.4 15 8 15.8…
ROCE Reconciliation Fiscal Year 2007 31-Mar-06 30-Jun-06 30-Sep-06 31-Dec-06 31-Mar-07 Numerator: Total assets 1,176.4 1,239.8 1,469.1 1,517.8 1,505.8 EBITDA 163.5 (-) Assets discountinued operations (27.4) (28.4) (23.8) (26.0) (26.2)…
ROCE Reconciliation Fiscal Year 2011 31-Mar-10 30-Jun-10 30-Sep-10 31-Dec-10 Numerator: Total assets 2,494.6 2,504.7 2,606.9 2,638.7 EBITDA 266.7 (-) Cash (77.8) (73.9) (108.5) (100.9) (-) Progress payments for aircraft and other…
Leverage Reconciliation Debt Investment Capital Leverage (a) (b) (c) = (a) + (b) (a) / (c) As of December 31, 2010 725.5 1,476.1 2,201.6 33.0% Adjust for: Unfunded Pension Liability 112.2 112.2 NPV off G GE and Norsk Lease…
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/investorrelations 34
Loading...
