Credit Suisse Energy Summit February 6 6-10, 10, 2012 Bristow Group Inc. February 8, 2012
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 is the leading provider of helicopter transportation services to the global offshore industry Bristow flies crews and light cargo to production platforms, vessels and rigs 20 countries 550 aircraft 3,400 employees Ticker:…
Strategically positioned for global growth 1 or 2 market position in the major oil and gas provinces: North Sea, G M Australia, GoM, A t li West W t Africa Af i and d Brazil B il Industry-leading safety performancethe key…
Industry leading safety record creates marketing and cost advantage 3-year average air * Safety is our primary core value accident rates per 100K flight hours 2.79 Bristows Target Zero program is now the leading example emulated…
Bristow services are utilized in every phase of offshore oil and gas activity Largest share of revenues (60%) relates to Typical revenues by segment oil and gas production, ensuring stability and growth Other 10% Exploration 20%…
Bristows contract and operations structure results in a more predictable income with significant operating leverage Our run-rate capex is low as we expense almost all of our overhaul and maintenance Bristow contracts earn 65% of…
Europe (EBU) Outlook: Growth is surprisingly resilient Business Strategy and Overview: EBU is our largest BU with significant growth opportunities to both diversify and increase market share Annual Revenue 550 million of LACE*: 46…
West Africa (WASBU) Outlook: Increased offshore deepwater development and competition and competition Business Strategy and Overview: WASBU strategy is to maintain the proven and consistent premier brand Annual Revenue: circa 250…
Australia (AUSBU) Outlook: Mid and Long term outlook is positive; Expansion delayed Business Strategy and Overview: AUSBU strategy entails a focus on the organic growth and the Client Promise of LACE*: 20 Annual Revenue: circa 160…
Other International (OIBU) Outlook: Emerging growth Business Strategy and Overview: OIBU strategy is to develop new markets through geographic R&D and partnerships Annual Revenue: circa 141 million of LACE*: 38 LACE Rate*…
North America (NABU) Outlook: Slow but steady improvement Business Strategy and Overview: NABU strategy is to focus on key contracts Annual Revenue: circa 180-200 180 200 million of LACE*: 30 LACE Rate* (annualized): 5.9 million…
Translating these opportunities into revenue growth: Introduction to LACE and the LACE Rate Large Aircraft Equivalent ((LACE)) LACE M Math th LACE normalizes revenue and is functionally similar to 100% per of Large Aircraft BOE…
Translating these opportunities into revenue growth: LACE and LACE Rate trends LACE and LACE Rate excludes Bristow Academy, affiliate aircraft, aircraft held for sale, aircraft construction in progress, and reimbursable revenue; see…
Our clients have sharply increased their focus on risk related to contractor capabilities, capabilities personnel and equipment What clients are saying Newer assets will be required Pursuing highest operational standard and will…
Bristows Client Promise is in response to this client focus: Creating value through differentiation Target Zero accidents, downtime and complaints programs deliver value to operators operators. More zero-accident zero accident…
Bristows new unique investment thesis and commitment to our shareholders for the next 5 years Internal Strategy External Temple: Commitment: FY 2012 - 2016 FY 2012 - 2016 Our New Balanced and Unique Investment Thesis…
Understanding Bristow Value Added (BVA): Treat capital like any other cost Bristow Value Added = Gross Cash Flow (Gross Operating Assets X Capital Charge) BVA = GCF - ( GOA X 10.5% ) Bristow Value Added calculation for FY2011 (10 1)…
Operating lease strategy opportunistically entering market Aircraft leasing market is very attractive to Bristow, offering lower rates and better terms than previously anticipated Our initial goal is to utilize this financing strategy…
Understanding prudent balance sheet management: How we get there Capex vs Balance use of operating cash flow + a/c sales with leases Leases for a/c purchases and other capex Leases used for initially no more than 20-30% of total…
Financial highlights: Revised FY12 guidance EPS S guidance range 2.90 - 3.10, excluding aircraft f sales and special items Depreciation and amortization expense 90 95 million SG & A expense 130 - 135 million Interest…
Understanding Bristows unique, balanced investment thesis We will aim to provide a balanced return, but some years we will hit hit the gas gas depending on price signals The Growth Price Signal is provided The Capital Return Price…
Putting it all together for FY12-16: Over 700 million available for further growth and capital return 1,121 Operating leases 497 103 1,378 238 Operating leases 735 116 FY11 balance Operating cash flow Asset sales…
Todays y Key y Takeaways y Target Zero will Premier service provider with excellent secular expansion opportunities remain a top Growth to be executed with care and discipline p priority Expand margins and revenue growth Client…
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 713 267 7620 bristowgroup.com/investorrelations 25
Appendix Appendix 26
Organizational Chart - as of December 31, 2011 Operated Aircraft Bristow owns and/or operates 364 aircraft as of December 31, 2011 Affiliated Aircraft Key Bristow affiliates and joint ventures operate 186 aircraft Corporate…
Aircraft Fleet Medium and Large As of December 31 31, 2011 Aircraft Medium capacity 12-16 passengers Type No. of PAX Engine Consl Unconsl Total Ordered Large Helicopters AS332L Super Puma 18 Twin Turbine 30 - 30 - AW189 16 Twin…
Aircraft Fleet Small, Training and Fixed As of December 31 31, 2011 (continued) Small capacity 4-7 passengers Training capacity 2-6 passengers Next Generation Aircraft Mature Aircraft Models LACE does not include held…
Consolidated Fleet Changes and Aircraft Sales for Q3 FY12 Aircraft held for sale by BU Fleet changes EBU WASBU AUSBU OIBU NABU Total L Large 3 - 3 - - 6 Medium 2 1 1 3 1 8 Q 1 FY12 Q 2 FY12 Q 3 FY12 YTD Small - 2 - - - 2 Fleet…
Order and options book as of December 31, 2011 ORDER BOOK* OPTIONS BOOK Helicopter Helicopter Class Delivery Date Location Contracted Class Delivery Date Location 1 Large March 2012 EBU 1 of 1 4 Medium June 2012 EBU 1 Large June…
Adjusted EBITDAR margin trend 1) Calculated by taking adjusted EBITDAR divided by operating revenue 2) Adjusted EBITDAR excludes special items and asset dispositions 32
Adjusted EBITDAR reconciliation ( in millions) Ma rch 31, 2006 2007 2008 2009 Income from continuing operations 54.5 72.5 107.7 125.5 Income tax expense 14.7 38.8 44.5 50.5 Interest expense 14.7 10.9 23.8 35.1 Gain on disposal of assets…
Operating margin trend Bristow Group Operating Margin Trend Actual 2008 2009 2010 2011 2012 As Reported Full Year Full Year Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 EBU 23.6% 19.3% 17.2% 16.7% 16.1% 18.1% 17.0% 18.0% 18.4% 19.6% 18.8%…
GAAP reconciliation Three Months Ended Nine Months Ended December 31, December 31, 2011 2010 2011 2010 (In thousands, except per share amounts) Adjusted EBITDA ...................................................................…
Special items reconciliation Three Months Ended December 31, 2010 Adjusted Diluted Adjusted Earnings Operating Adjusted Adjusted Per Income EBITDA Net Income Share (In thousands, except per share amounts) Power-by-the-hour credit…
Leverage Reconciliation Debt Investment Capital Leverage (a) (b) (c) = (a) + (b) (a) / (c) (in millions) As of December 31, 2011 832.8 1,523.5 2,356.3 35.3% Adjust for: Unfunded Pension Liability 97.2 97.2 NPV of Lease…
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 38
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