Skip to main content Q4 2010 EARNINGS CALL – Bergen Group Investor Presentation | Shale Experts
Loading...
Pm

Q4 2010 EARNINGS CALL – Bergen Group

Bergen Group · Feb 10, 2011 · 37 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. Q4 2010 EARNINGS CALL – Bergen Group – slide 1
    BERGEN GROUP Q4 2010 CEO Pl Engebretsen CFO Terje Iversen Oslo, February 10th 2011
  2. Q4 2010 EARNINGS CALL – Bergen Group – slide 2
    AGENDA Highlights in Q4 10 Operational review Financial review Strategy and Outlook 3
  3. Q4 2010 EARNINGS CALL – Bergen Group – slide 3
    HIGHLIGHTS IN Q4 2010 Solid development of the order backlog Total order back log of NOK 5,8 billion New contracts with high strategic value and growth potential Improvement in revenue and margin Operating revenue of NOK 811…
  4. Q4 2010 EARNINGS CALL – Bergen Group – slide 4
    QUARTERLY DEVELOPEMENT ORDER INTAKE 3000 SHIPBUILDING NOK mill. OFFSHORE 2500 TECHNOLOGY MARITIME SERVICE 2000 1500 1000 500 0 Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 5
  5. Q4 2010 EARNINGS CALL – Bergen Group – slide 5
    QUARTERLY ORDER BACKLOG DEVELOPMENT SHIPBUILDING 7000 OFFSHORE TECHNOLOGY 5,8 6000 MARITIME SERVICE NOK mill. 5000 4,7 4,2 4,2 4000 3,4 3000 2000 1000 0 Per 31.12.2009 Per 31.03.2010 Per 30.06.2010 Per 30.09.10 Per…
  6. Q4 2010 EARNINGS CALL – Bergen Group – slide 6
    SHARE PRICE DEVELOPEMENT 2010 7
  7. Q4 2010 EARNINGS CALL – Bergen Group – slide 7
    AGENDA Highlights in Q4 10 Operational review Financial review Strategy and Outlook 8
  8. Q4 2010 EARNINGS CALL – Bergen Group – slide 8
    BERGEN GROUP SHIPBUILDING 9
  9. Q4 2010 EARNINGS CALL – Bergen Group – slide 9
    STRONG MARGINS NEW CONTRACTS EBITDA margin of 9.3 % in Q4 EBITDA margin of 11.2 % for full year 2010 Strong project management and project execution OCV-contract awarded in December High end vessel segment expected to improve…
  10. Q4 2010 EARNINGS CALL – Bergen Group – slide 10
    ORDER BACKLOG SHIPBUILDING PER 31.12.10 2010 2011 2012 2013 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 BN 163: DSV / Diving Support Vessel / Mermaid BN 164: DSV / ROV / Offshore Construction Vessel / Island Offshore BN 165:…
  11. Q4 2010 EARNINGS CALL – Bergen Group – slide 11
    BERGEN GROUP OFFSHORE 12
  12. Q4 2010 EARNINGS CALL – Bergen Group – slide 12
    OFFSHORE IMPROVED ORDER BOOK Considerable revenue growth Capacity utilization improving Strong order intake in Q4 EPCIc contract for Kvitebjrn will be generating activity for a long time YME project expanding Continued focus…
  13. Q4 2010 EARNINGS CALL – Bergen Group – slide 13
    ORDER BACKLOG OFFSHORE PER 31.12. 2010 2010 2011 2012 2013 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Modifications to control systems Statfjord B and C / Statoil Kvitebjrn Pre-compression EPCI / Statoil Eldfisk…
  14. Q4 2010 EARNINGS CALL – Bergen Group – slide 14
    MARKET OUTLOOK OFFSHORE A positive market outlook Oil price level is expected to support continued investment in exploration and development General increase in maintenance and modification work on the Norwegian continental shelf…
  15. Q4 2010 EARNINGS CALL – Bergen Group – slide 15
    BERGEN GROUP MARITIME SERVICE 16
  16. Q4 2010 EARNINGS CALL – Bergen Group – slide 16
    MARITIME SERVICE STRENGHTENED POSITION Strong improvement in the order backlog Frigate overhaul for the Norwegian Navy Major rebuilding contract for seismic vessel Bergen Group Services AS Merging three of the companies in…
  17. Q4 2010 EARNINGS CALL – Bergen Group – slide 17
    NEW UNIT: BERGEN GROUP SERVICES AS Bergen Group Services AS Framo Motor/Dock Sartor NAVY and AGR Fjord 1 DOF other KCA Deutag Forsvaret Tide Ferry special Seadrill Tide Hurtigruten projects Odfjell Drill. Rednings. Offshore…
  18. Q4 2010 EARNINGS CALL – Bergen Group – slide 18
    BERGEN GROUP TECHNOLOGY 19
  19. Q4 2010 EARNINGS CALL – Bergen Group – slide 19
    TECHNOLOGY - EXPECTING FUTURE GROWTH Bergen Group Dreggen with a solid order backlog Product development has generated new orders High activity secured until end of Q1 2012 Increased order backlog expected also in other parts…
  20. Q4 2010 EARNINGS CALL – Bergen Group – slide 20
    AGENDA Highlights in Q4 10 Operational review Financial review Strategy and Outlook 21
  21. Q4 2010 EARNINGS CALL – Bergen Group – slide 21
    INCOME STATEMENT Q4 2010 CONDENSED CONSOLIDATED INTERIM INCOME STATEMENT (UNAUDITED) Condensed consolidated interim statement of income (unaudited) Figures in NOK mill. Q4 2010 Q4 2009 YTD 2010 YTD 2009 Operating revenues 811 1 269 3…
  22. Q4 2010 EARNINGS CALL – Bergen Group – slide 22
    EBITDA MARGIN - QUARTERLY DEVELOPMENT 15,5 % 10,5 % 5,5 % 0,5 % Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 SHIPBUILDING OFFSHORE -4,5 % MARITIME SERVICES TECHNOLOGY BG GROUP -9,5 % Margin improvements in all…
  23. Q4 2010 EARNINGS CALL – Bergen Group – slide 23
    SHIPBUILDING RESOURCES & FINANCIALS SHIPBUILDING Q4 09 to Q4 10 Revenues SHIPBUILDING EBITDA NOK mill. % 800 752 16,0 % Gross operating revenues EBITDA - % 700 14,0 % 581 600 12,0 % 500 10,0 % 438 440 400 8,0 % 315 300 6,0 %…
  24. Q4 2010 EARNINGS CALL – Bergen Group – slide 24
    OFFSHORE RESOURCES & FINANCIALS OFFSHORE Q4 09 to Q4 10 NOK mill. Revenues OFFSHORE EBITDA NOK mill. % Gross operating revenues 400 15,0 % 337 EBITDA - % 350 319 10,0 % 300 250 5,0 % 190 189 200 178 0,0 % 150 100 -5,0 %…
  25. Q4 2010 EARNINGS CALL – Bergen Group – slide 25
    OFFSHORE RESOURCES & FINANCIALS EBITDA in the Offshore segment Figures in MNOK Q4 2010 2010 YTD Turnover EBITDA EBITDA % Turnover EBITDA EBITDA % Bergen Group Hanytangen 48 -17 -35,4 % 163 -20 -12,3 % Other Bergen Group Offshore 270…
  26. Q4 2010 EARNINGS CALL – Bergen Group – slide 26
    TECHNOLOGY RESOURCES & FINANCIALS TECHNOLOGY Q4 09 to Q4 10 Revenues TECHNOLOGY EBITDA NOK mill. Gross operating revenues % 200 12,0 % EBITDA - % 156 176 180 10,0 % 160 143 8,0 % 140 132 120 6,0 % 120 100 4,0 % 80 2,0…
  27. Q4 2010 EARNINGS CALL – Bergen Group – slide 27
    MARITIME SERVICE RESOURCES & FINANCIALS MARITIME SERVICE Q4 09 to Q4 10 Revenues MARITIME SERVICE EBITDA NOK mill. % Gross operating revenues 140 12,0 % EBITDA - % 120 115 10,0 % 92 100 8,0 % 86 82 80 6,0 % 63 60 4,0…
  28. Q4 2010 EARNINGS CALL – Bergen Group – slide 28
    CASH FLOW QUARTERLY DEVELOPEMENT Figures in TNOK Q4 2010 Q4 2009 YTD 2010 YTD 2009 From operational activities (38 074) 151 512 116 282 253 900 From investment activities (16 396) (33 522) (19 650) (111 731) From financing activities…
  29. Q4 2010 EARNINGS CALL – Bergen Group – slide 29
    BALANCE SHEET ASSETS EQUITY & LIABILITIES TNOK TNOK 5 000 000 5 000 000 4 500 000 4 500 000 4 000 000 4 000 000 3 500 000 3 500 000 3 000 000 3 000 000 Cash & liquid assets Construction loans Receivables 2 500 000 2 500 000…
  30. Q4 2010 EARNINGS CALL – Bergen Group – slide 30
    HISTORICAL DEVELOPMENT - TURNOVER MNOK Historical developement - turnover 6000 5000 4000 3000 2000 1000 0 2007* 2008* 2009 2010 *Proforma figures 31
  31. Q4 2010 EARNINGS CALL – Bergen Group – slide 31
    HISTORICAL DEVELOPMENT EBITDA and EBIT Historical development - EBITDA - EBIT 450 400 350 300 NOK mill. 250 200 150 100 50 - 2007* 2008* 2009 2010 EBITDA 265 209 416 196 EBIT 183 126 239 98 *Proforma figures 32
  32. Q4 2010 EARNINGS CALL – Bergen Group – slide 32
    NET INTEREST BEARING DEBT Net interest bearing debt 800 NOK mill. 700 600 500 400 300 200 100 31.12.08 31.12.09 31.12.10 - 31.12.2008 31.12.2009 31.12.2010 Net interest bearing debt pr 31.12.2010 of NOK 370…
  33. Q4 2010 EARNINGS CALL – Bergen Group – slide 33
    INSTALLMENT PROFILE Installment profile 400 NOK mill. 350 300 Credit facilities for yearly renewal 250 Installments external loans 200 150 100 50 - 2011 2012 2013 2014 2015 2016= 34
  34. Q4 2010 EARNINGS CALL – Bergen Group – slide 34
    AGENDA Highlights in Q4 10 Operational review Financial review Strategy and Outlook 35
  35. Q4 2010 EARNINGS CALL – Bergen Group – slide 35
    MARKET EXPECTATIONS GOING FORWARD International growth expected within the petroleum related industries Oil price expectations higher than the 2009/2010-average going forward Higher project complexity and increasing demand for our…
  36. Q4 2010 EARNINGS CALL – Bergen Group – slide 36
    STRATEGY AND OUTLOOK BERGEN GROUP Improved market situation in all four segments Positive effect on capacity utilization and margin development Order back log with potential New contracts of strategic value Continued focus on…
  37. Q4 2010 EARNINGS CALL – Bergen Group – slide 37
    BERGEN GROUP QUALITY THROUGH SERVICE AND INNOVATION THANK YOU FOR YOUR ATTENTION www.bergengroup.no 38

From the store

Browse maps, data & reports in the Shale Experts store