First Quarter FY 2013 Earnings Presentation Bristow Group Inc. August 7, 2012
Fourth 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 J…
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 Officer comments Bill Chiles, President and CEO 4
Operational safety review Total Recordable Injury Rate* per 200,000 man- 1 hours (cumulative) Commercial Air Accident Rate* per 100,000 Flight Hours (Fiscal Year) 0.5 0.28 0.32 0.23 0.25 0.22 0.19 0.2 0.21 0.23 0.18 0.16 0.11 3…
Q1 FY13 Highlights Q1 operating revenue of 320.7M (12% increase from Q1 FY12, 1% increase from Q4 FY12) Q1 GAAP EPS of 0.65 (14% increase from Q1 FY12, 67% increase from Q4 FY12) Q1 adjusted EPS* of 0.81 (50% increase from Q1 FY12,…
Current market environment Global E & P spending is expected to rise by 11% in 2012 even in the face of worldwide economic uncertainty and upcoming U.S. presidential elections Supermajors continue to earmark deepwater and ultra…
Europe p ((EBU)) Europe represented 39% of Bristow operating revenue and 42% of adjusted EBITDAR* in Q1 FY13 Operating revenue increased to 123.2M 123 2M in Q1 FY13 from 108.3M in Q1 FY12 with the addition of four large aircraft…
West Africa (WASBU) Nigeria represented 21% of Bristow operating revenue and 22% of adjusted EBITDAR* in Q1 FY13 Operating revenue of 66.4M in Q1 FY13 increased 27% from 52.3M in Q1 FY12 due to strong activity and a 12% increase in…
North America (NABU) North America represented 17% of Bristow operating revenue and 13% of adjusted EBITDAR* in Q1 FY13 Adjusted EBITDAR almost doubled to 12.2M in Q1 FY13 vs. 6.3M 6 3M in i Q1 FY12 andd adjusted dj t d EBITDAR…
Australia (AUSBU) Australia represented 12% of Bristow operating revenue and 11% of adjusted EBITDAR* in Q1 FY13 Operating revenue of 38.2M in Q1 FY13 decreased f from 40.9M 40 9M iin Q1 FY12 due d tot a decrease d i overallll…
Other International (OIBU) Other International represented 11% of Bristow operating revenue and 12% of adjusted EBITDAR* in Q1 FY13 Operating revenue decreased to 33.2M in Q1 FY13 vs. 34.5M i Q1 FY12 d in due tto d decrease iin…
Financial discussion Jonathan Baliff, SVP and CFO 13
Financial highlights: Adjusted EPS and EBITDAR Summary Q1FY2012 to Q1FY2013 adjusted EPS bridge 0.08 0.09 0.28 0.81 0.54 Q1FY2012 Operations p Corporate p and Other FX Changes g Q1FY2013 Q1FY2012 to Q1FY2013…
LACE rate increased with overall LACE declining due to sales of less productive aircraft Consolidated commerical aircraft Large Aircraft Equivalent (LACE) 350 350 8.55 9 7 89 7.89 295 290 8 300 279 300 7.15 268 263 6.49 7 6.14…
BVA Six Quarters Year over year improvement for Q1 FY13 Q1 FY13 BVA is 1.9M, BVA* Q4 FY11 Q1 FY13 which is a 17 17.3M 3M 20 improvement over Q1 13.6 FY12 15 Positive year-over-year year over year 10 change in BVA is…
Our progress on BVA continues with stronger operating cash flow generation in Q1 FY13 Net cash provided by operating activities 320 231.3 280 240 195.4 200 in millions 151.4 127.9 160 120 80 40 52.9 55.4…
Recently announced contract awards provide growth and demonstrate the success of Bristow Bristows s Client Promise Norway: UK: 20 large aircraft Contract renewal for four 4 = Existing g contract extensions S-92s starting Sep 2014 f…
Financial highlights: FY13 guidance reaffirmed EPS guidance range 3.25 - 3.55, excluding aircraft sales and special items Depreciation and amortization expense 90 95 million SG & A expense 135 - 140 million Interest expense 38 -…
Conclusions Our focus on execution is deliveringg results with Target g Zero / Client Promise being the top priority Strong financial profile with liquidity, and prudent balance sheet management (our adjusted debt to equity is 71%…
Appendix 21
Organizational Chart - as of June 30, 2012 Operated Aircraft Bristow owned and/or operated 357 aircraft as of June 30, 2012 Affiliated Aircraft Key Bristow affiliates and joint ventures operated 194 aircraft Corporate as of…
Aircraft Fleet Medium and Large As of June 30 30, 2012 Aircraft Type No. of PAX Engine Consl Unconsl Total Ordered Medium capacity 12-16 passengers Large Helicopters AS332L Super Puma 18 Twin Turbine 23 - 23 - AW189 16 Twin Turbine…
Aircraft Fleet Small, Training and Fixed As of June 30 30, 2012 (continued) Aircraft Type No. of PAX Engine Consl Unconsl Total Ordered Small Helicopters Bell 206B 4 Turbine 1 2 3 - Bell 206 L-3 L3 6 Turbine 4 6 10 - Small…
Operating lease strategy: lowering the cost and amount of capital needed to grow Leased aircraft as of June 30, 2012 Large Medium Small Total Leased LACE Total LACE % Leased EBU 8 - - 8 8 47 17% WASBU - 1 - 1 1 22 2% NABU 2 11 1 14 8…
Consolidated Fleet Changes and Aircraft Sales for Q1 FY13 Fleet changes Aircraft held for sale by BU Q 1 FY13 EBU WASBU NABU AUSBU OIBU Total Fleet Count Beginning Period 361 Large 3 - - 3 - 6 Delivered Medium 2 1 - 1 7 11 S-92 2…
Operating Revenue, LACE and LACE rate by BU Operating Revenue, LACE, and LACE Rate by BU as off J June 30 30, 2012 Operating revenue1 LACE LACE Rate2,3 EBU 123.2 47 10.60 WASBU 66.4 22 12.35 NABU 52.6 30 7.05 AUSBU 38.2 18…
Order and options book as of June 30, 2012 ORDER BOOK* OPTIONS BOOK Helicopter Helicopter Class Delivery Date Location Contracted Class Delivery Date 3 L Large D December b 2012 EBU 3 1 L Large S September b 2013 2 Large…
Adjusted EBITDAR margin* trend 2010 2011 Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year EBU 31.2% 31.7% 31.9% 28.0% 30.8% 29.8% 31.5% 34.6% 34.4% 32.7% WASBU 31.7% 36.8% 33.7% 39.1% 36.0% 33.7% 36.9% 35.8% 34.3% 35.2% NABU 18.3%…
Adjusted EBITDAR* reconciliation Fiscal year ended, 3/31/2010 3/31/2011 ( in millions) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Net income 24.0 2 0 33.7 33 27.1 2 1 28.7 28 113.5 113 20.9 20 9 38.8 38 8 42.3 23 31.2 31 2…
Bristow Value Added (BVA) Sample calculation Bristow Value Added = Gross Cash Flow (Gross Operating Assets X Capital Charge) BVA = GCF - ( GOA X 10.5%** ) Bristow Value Added calculation for Q1 FY12 ((15.4)) = 60* - ( 2,874*…
Gross Cash Flow Presentation (in millions) G oss Cas o eco c at o Gross Cash Flow Reconciliation Q1 FY12 Q Q1 FY13 Q 3 Net Income 21 24 Depreciation and Amortization 23 21 Interest Expense 9 9 Interest Income Interest Income…
Gross Operating Asset Presentation (in millions) Adjusted Gross Operating Assets Reconciliation Q1 FY12 Q1 FY13 Total Assets 2,701 2,740 Accumulated Depreciation l d i i 46363 46868 Capitalized Operating Leases 136 194 Cash and…
GAAP reconciliation Three Months Ended June 30, 2012 2011 (In thousands, except per share amounts) Adjusted operating income .................................................. 47,470 34,989 Gain (loss) on disposal of assets…
Leverage Reconciliation Debt Investment Capital Leverage (a) (b) (c) = (a) + (b) (a) / (c) (in millions) As of June 30, 2012 736.3 1,540.7 2,277.0 32.3% Adjust for: Unf nded pension liability Unfunded liabilit 109.8 109 8…
Contact Us Bristow B i t Group G Inc. I (NYSE: (NYSE BRS) 2103 City West Blvd., 4th Floor Houston, Texas 77042 t 713.267.7600 f 713.267.7620 bristowgroup.com 36
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