Investor Relations Presentation Fiscal Year End 2009 May 21, 2009
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 At A Glance Leader in helicopter transportation services for the global offshore oil and gas industry Ticker: BRS Countries served: 20 (2) Stock price: 25.55 (1) Employees: 3,569 (3) Market cap: 913.4 million (1) (4) Aircraft:…
A Global Leader in Helicopter Services Our Mission Our Values Bristows values represent core beliefs about Our mission is to provide the safest and most how to conduct business. They are: efficient helicopter services and aviation…
Investment Highlights Relatively stable production-based demand Industry need for new technology and larger aircraft (capex) Close relationships with world-class customers with global operations Global footprint in approximately…
Key Accomplishments Enhanced relationships with key global In early 2009 implemented cost reductions customers Instilled regulatory compliance culture Implemented ROCE targets Enhanced the safety culture Improved profitability…
Our Business We are involved in all phases of the offshore oil and gas lifecycle, predominately production-related activities Seismic Construction Drilling Production Abandonment Fly crews and light cargo to production platforms…
Helicopter Aftermarket Broad helicopter aftermarket: Global Helicopter Fleet Air medical Fire fighting Military Oil & Gas Traffic monitoring 1,649 17,066 40% 4% Police Tourism Corporate/Executive Etc. 700 to 900 used turbine…
Our Customers are World Leaders IOCs NOCs Independents Talisman Energy Inc. 9
Approximate Business Mix Revenue Split Operating Income Split Fixed Monthly Fixed Monthly 60% 65% Variable Hourly Variable Hourly 40% 35% Revenue Split Revenue Sourced From Development IOC & NOC 6% Production 60% 67% E &…
Bristow Safety Record: Better Than Industry Air Accident Rate (AAR) 1.6 1.4 AAR per 100,000 Flight Hours 1.2 1 OGP Offshore AAR (Average from 2004 - 2007) 0.8 BRS AAR (Average from 2004 - 2008) 0.6 0.4 0.2 0…
Global Footprint Provides Diversity of Cash Flow Global diversity provides flexibility in deploying our aircraft to the most attractive markets 76% of revenue is international % FY 09 Revenue Europe U.S. Gulf of 35% Mexico…
Helicopter Supply Market should balance again around 2011-2012 when the effect of retirement reduces the overall count of active helicopters Source: PFC Energy as of March 2009. 13
Financial Policies Use return on capital employed as principal financial metric To manage existing fleet As hurdle rate for new aircraft orders Remain conservatively capitalized Adjusted debt(1) / EBITDAR(2) of approximately 3.0x to…
Strong Balance Sheet and Cash Flow Capital Structure 100 million Revolver August 2011 (Libor + 125) B/S Capitalization 100% available. Banks Involved: SunTrust, Bank of America, JP 2.1 billion Morgan, Wells Fargo, Whitney (March 31,…
ROCE Targets We purchase and deploy our aircraft fleet using ROCE targets ROCE = EBITDA / (fair market value of consolidated aircraft, related working capital plus our investment in unconsolidated affiliates) Country-specific ROCE…
Fleet Investment Plans Helicopter Capital Expenditures Helicopter Deliveries 1.2 billion spent in last four years 124 helicopters in last four years 450 407 40 400 36 36 343 35 328 350 294 30 300 271 26 26 110 Number of…
Investment Highlights Relatively stable production-based demand Industry need for new technology and larger aircraft (capex) Close relationships with world-class customers with global operations Global footprint in approximately…
Appendix 19
Key Milestones 1955 Bristow Helicopters Founded 1969 Offshore Logistics Founded 1996 Acquired Bristow Helicopters 2004-2005 Internal Review and Senior Management Changes 2006 Integrated the company and changed name to Bristow…
Organizational Chart Bristow Group Western Global Eastern Hemisphere Training Hemisphere Arctic Gulf of Mexico Latin America WH Cent Ops Bristow Academy Europe West Africa SE Asia Other Intl EH Cent Ops (4%) (20%) (7%) (1%)…
Aircraft Fleet As of March 31, 2009 Aircraft Operated Aircraft on Type Capacity Engine Consolidated Unconsolidated Total Aircraft Ordered Option Small Helicopters Bell 206B 4 Turbine 3 2 5 - - AS350 4 Turbine - 2 2 - - BO-105 4…
Fleet Investment Plans Delivery Details Helicopter Purchase Orders (3/31/08) Helicopter Purchase Options (3/31/08) Helicopter Helicopter Class Delivery Date Location Contracted Class Delivery Date Location 3 Large June 2009 Eastern…
Pilot Supply Bristow Academy Bristow Academy provides Bristow a strategic advantage over competitors During FY 2009, we hired 58 graduates as instructors at Bristow Academy and 33 graduates as pilots (mostly former instructors) into…
Senior Management Team On average, the senior management team has 29 years of business experience Bill Chiles Bill Chiles President Presidentand andChief Chief Executive ExecutiveOfficer Officer July July2004 2004 36*…
Managements Stake in Bristow Equity Ownership % of Outstanding Common Stock Owned / Vested Unvested Total Board of Directors 0.5% 0.1% 0.6% Senior management team 0.8% 1.3% 2.1% Other management 0.5% 1.6% 2.1% Total 1.8% 3.0%…
EBITDA and EBITDAR Reconciliations ( in thousands) 2000 2001 2002 2003 2004 Income from continuing operations 7,379 26,515 40,938 38,523 48,214 Income tax expense 3,772 13,297 19,060 17,493 18,476 Interest expense 18,527 18,385…
ROCE Reconciliation ( in thousands) Fiscal Year 2006 31-Mar-05 30-Jun-05 30-Sep-05 31-Dec-05 31-Mar-06 Numerator: Total assets 1,149,576 1,136,469 1,164,081 1,173,309 1,176,413 EBITDA 125,727 (-) Assets discontinued operations…
ROCE Reconciliation ( in thousands) Fiscal Year 2008 31-Mar-07 30-Jun-07 30-Sep-07 31-Dec-07 31-Mar-08 Numerator: Total assets 1,505,803 1,844,440 1,899,243 1,960,391 1,977,355 EBITDA 230,259 (-) Assets discontinued operations…
Leverage Reconciliation in thousands Total Minority Stockholders' Total Debt Interest Investment Capital Leverage (a) (b) (c) (d) = (a) + (b) + (c) (a) / (d) As of March 31, 2009 745,846 11,200 1,209,887 1,966,933 37.9%…
Bristow Group Inc. 2000 West Sam Houston Parkway South Suite 1700, Houston, Texas 77042 t 713.267.7600 f 713.267.7620 bristowgroup.com/investorrelations 5/14/09
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