Jefferies 2011 Global Energy Conference Bristow Group Inc. December 1, 2011
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 552 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…
A wider scope for Bristow growth: 441 opportunities identified between FY12 and FY16 Total Aircraft Opportunities Existing aircraft New growth aircraft 106 4 5 107 59 279 56 Russia / Caspian New replacement 31 29 30…
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 (41…
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 in 1HFY12 Business Strategy and Overview: AUSBU strategy entails a focus on the organic growth and the Client Promise of LACE: 20 Annual Revenue: circa…
Other International (OIBU) Outlook: Lost work in 1HFY12 replaced by emerging growth Business Strategy and Overview: OIBU strategy gy is to develop p new markets through g ggeographic g p R&D and partnerships Annual Revenue: circa…
North America (NABU) Outlook: Slow but steady improvement Business Strategy and Overview: NABU strategy is to focus on key must win contracts Annual Revenue: circa 180-200 180 200 million of LACE: 29 LACE Rate (annualized): 6.3…
Capitalizing on opportunities between FY12 and FY16 while maximizing optionality 441 aircraft opportunities identified 335 demand for New aircraft 112 expected win rate based on market share 67 built into 5 year plan 18 on 6…
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 Historical Trends Conslidated commercial aircraft Large Aircraft Equivalent (LACE*) LACE Rate (Annual) (in millions) 350 324 323 295 290 7.50 300 279 7.15…
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)…
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…
2QFY12 Financial highlights: Revising and narrowing of FY12 guidance Phase I Revision EPS gguidance rangeg ((as of November 8,, 2011)) 3.05 - 3.30,, excluding aircraft sales and special items Depreciation and amortization expense…
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 26
Appendix Appendix 27
Organizational Chart - as of September 30, 2011 Operated Aircraft Bristow owns and/or operates 366 aircraft as of September 30, 2011 Affiliated Aircraft Key Bristow affiliates and joint ventures operate 186 aircraft Corporate…
Aircraft Fleet Medium and Large As of September 3030, 2011 Aircraft Type yp No. of PAX Engine g Consl Unconsl Total Ordered Medium capacity 12-16 passengers Large Helicopters AS332L Super Puma 18 Twin Turbine 30 - 30 - Bell 214ST…
Aircraft Fleet Small, Training and Fixed As of September 30, 30 2011 (continued) Aircraft Type No. of PAX Engine Consl Unconsl Total Ordered Small Helicopters Bell 206B 4 Turbine 2 2 4 - Small capacity 4-7 passengers Bell 206 L-3…
LACE simplifies fleet description across regions and time periods LACE EBU WASBU AUSBU OIBU NABU TOTAL FY07* 37 19 12 35 48 156 FY08 43 20 17 32 49 161 FY09 46 23 22 34 40 164 FY10 42 25 22 35 36 159 FY11 45 22 19 37 31…
The general upward LACE Rate trend confirms higher productivity for newer technology aircraft 12 LACE Rate by business unit (annual) (in millions) WASBU 10 EBU 8 AUSBU 6 NABU 4 OIBU* 2 0 FY07 FY08 FY09 FY10 FY11 (…
Consolidated Fleet Changes and Aircraft Sales for Q2 FY12 Q 1 FY12 Q 2 FY12 YTD of A/C Cash Fleet Count Beginning Period g g 373 372 373 Sold Received* Received Gain/ Loss Gain/ Loss* Delivered Q1 FY 12 3 2,478 1,525 EC225 2 2…
Order and options book as of September 30, 2011 ORDER BOOK OPTIONS BOOK Helicopter Helicopter Class Delivery Date Location Contracted Class Delivery Date Location 2 Large December 2011 NABU 2 of 2 2 Medium December 2012 EBU 1 Large…
Operating margin trend 2008 2009 2010 2011 2012 As Reported Full Year Full Year Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 EBU 23.6% 19.3% 17.2% 16.7% 16.1% 18.1% 17.0% 18.0% 18.4% 19.6% 18.8% 18.8% 17.3% 16.8% WASBU 17 9% 17.9% 21 5% 21.5%…
EBITDAR reconciliation ( in millions) March 31, 2000 2001 2002 2003 2004 Income from continuing operations 8.8 8 8 27.9 27 9 42.5 42 5 40.3 40 3 49.6 49 6 Income tax expense 3.8 13.3 19.1 17.5 18.5 Interest expense 18.5 18.4 15.8…
EBITDAR reconciliation (continued) ( in millions) March 31, 2010 2011 Income from continuing operations 113.5 133.3 Income tax expense 29.0 7.1 Interest expense 42.4 46.2 Gain on disposal of assets (18.7) (10.2) Depreciation and…
GAAP reconciliation Three Months Ended Six Months Ended September 30, September 30, 2011 2010 2011 2010 (In thousands) Adjusted EBITDA ................................................................... 62,127 72,687 120,199 130,786…
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 39
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