INTERIM REPORT Q1 2012 Presentation May 15th 2012, CEO Terje Arnesen 1
AGENDA Highlights in Q1 12 Operational review Financial review Strategy and Outlook 3
Video from the sea launching of cruise ferry hull 1 April 12th in Gdansk, Poland The video can also be watched at YouTube and www.fjordline.no
HIGHLIGHTS IN Q1 2012 Delay causes low margins in first quarter of 2012 First quarter influenced by hull delays from two subcontractors NOK 870 million in revenue (NOK 954 million in Q1 2011). A negative EBITDA of NOK 5 million…
HIGHLIGHTS IN Q1 2012, continued Services performing well in a challenging market situation NOK 211 million in revenue and an EBITA margin of 5.6 %. Strategic expansion of activity; service base established at Mongstad. Increased…
BERGEN GROUP HANYTANGEN 2012-2014 2012 2013 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Safe Scandinavia Yard stay in Q2: 12 days already carried out. Another yard stay in Q3 is an optional agreement as of 15.5.12 As of May 15th…
ACTIVITY BOOM FOR THE OFFSHORE YARDS 65-70 Annual Special Periodic Survey (SPS) / 5 year classing to be carried out in 2012-2019 Market potential of NOK 7.5 billion An additional need for yard capacity related to: minor…
OFFSHORE FINANCIALS OFFSHORE Q3 2010 to Q1 2012 NOK mill. BERGEN GROUP ROSENBERG BERGEN GROUP KIMEK OFFSHORE Order backlog 31.03.12: NOK 770 mill. (31.03.11: NOK 865 mill) BERGEN GROUP HANYTANGEN *Order backlog does not…
BERGEN GROUP SHIPBUILDING Two new contracts awarded from Volstad Maritime AS in Q1 2012 with a total value of NOK 1.5 billion; both with same design as the one currently being outfitted at at BG Fosen. 14
SCHEDULED OUTFITTING ACTIVITY 2012-2013 2012 2013 2014 As of May 15th 2012 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 BN 168: MPSV / Sartor Offshore Engineering/hull production CONTRACT VALUE: NOK 325 MILL BN 87: CRUISE FERRY /…
SHIPBUILDING FINANCIALS SHIPBUILDING Q3 2010 to Q1 2012 BERGEN GROUP FOSEN Order backlog 31.03.12: NOK 2 710 million* (31.03.11: NOK 2 813 million*) BERGEN GROUP BMV *Order back log numbers: ex BOA contract 16
STRATEGIC PARTNERSHIPS IN SHIPBUILDING Mitigating actions to improve ship hull manufacturing; Safeguard delivery on promised time Safeguard quality in workmanship and materials Improve outfitting flexibility to increase product…
BERGEN GROUP SERVICES 18
SERVICES WITH STRENGHTENED MARKET POSITION Bergen Group Dreggen with international growth Strategic partnership with Koch Metalrgica in Brazil established A cooperation for development and production of offshore cranes to the growing…
SERVICES FINANCIALS SERVICES Q3 2010 to Q1 2012 BERGEN GROUP DREGGEN BERGEN GROUP VEST ELEKTRO BERGEN GROUP SKARVELAND BERGEN GROUP KIMEK BERGEN GROUP SERVICES BERGEN GROUP HALSNY BERGEN GROUP RISNES Order backlog*…
AGENDA Highlights in Q1 12 Operational review Financial review presented by CFO Stle Rene Strategy and Outlook 21
INCOME STATEMENT Q1 2012 CONDENSED CONSOLIDATED INTERIM INCOME STATEMENT (UNAUDITED) Figures in MNOK Q1 2012 Q1 2011 FY 2011 FY 2010 Operating revenues 870 954 3 735 3 339 Other operating costs 875 913 3 531 3 143 Operating profit…
QUARTERLY DEVELOPMENT REVENUE AND EBITDA-% Offshore and Services with positive EBITDA of NOK 42 mill in Q1 2012, weak EBITA in Shipbuilding: cost and provisions due to hull delays 23
NET INTEREST BEARING DEBT Q3 2010 Q1 2012 Increase in working capital mainly due to higher activity at projects and minor investments 24
AGENDA Highlights in Q1 12 Operational review Financial review Strategy and Outlook 25
MARKET OUTLOOK BERGEN GROUP Offshore Continued high investments in brownfield modifications String of new discoveries leading to new field developments Subsea investments also expected to grow Bergen Group Rosenberg positioned with…
IR AND MEDIA CONTACTS Next Interim Report: Wednesday August 22th: Q2 2012 CEO Terje Arnesen tel. (+47) 906 89 130 terje.arnesenbergengroup.no CFO VP Communication Stle Rene (finance) yvind Risnes (media), tel. (+47) 982 06…
BERGEN GROUP QUALITY THROUGH SERVICE AND INNOVATION THANK YOU FOR YOUR ATTENTION www.bergengroup.no 28
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