INTERIM REPORT Q4 2014 February 27th 2013 CEO Terje Arnesen CFO Stle Rene 1
AGENDA Highlights in Q4 12 Financial review Strategy and Outlook 3
HIGHLIGHTS IN Q4 2012 STRUCTURAL Bergen Group Rosenberg sold to WorleyParson in Q1 Approx. 900MNOK in cash effect Bergen Group Dreggen sold to Palfinger in Q4 Approx. 100MNOK in cash effect Bergen Group Halsny sold to Halsny Dokk in…
AGENDA Highlights in Q4 12 Financial review Strategy and Outlook Presented by Stle Rene, CFO 5
QUARTERLY DEVELOPEMENT *divested companies included in the figures 6
INCOME STATEMENT Q4 2012 CONDENSED CONSOLIDATED INTERIM INCOME STATEMENT (UNAUDITED) Condensed consolidated interim statement of income Q4 Q4 YTD 31.12 Figures in MNOK 2012 2011 2012 2011 Operating revenues 873 932 3 470 3 735 Other…
OFFSHORE FINANCIALS OFFSHORE Q2 2011 to Q4 2012 NOK mill. BERGEN GROUP ROSENBERG* BERGEN GROUP KIMEK OFFSHORE Order backlog 31.12.2012: NOK 1 484 mill. (31.12.11: 758 mill) BERGEN GROUP HANYTANGEN *Order backlog does not…
SHIPBUILDING FINANCIALS SHIPBUILDING Q2 2011 to Q4 2012 BERGEN GROUP FOSEN Order backlog 31.12.12: NOK 3 131 million (31.12.11: NOK 1 536 million) BERGEN GROUP BMV 9
SERVICES FINANCIALS SERVICES Q2 2011 to Q4 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…
NET INTEREST BEARING DEBT Increased free cash in Q4, related to focus on cash management Slightly reduced interest bearing debt due to sale of Dreggen and refinancing Provisions in Shipbuilding is not included in NIBD 11
WRITE DOWN OF GOODWILL Shipbuilding: Write down of NOK 175 mill. in goodwill due to weak performance 12
BERGEN GROUP GOING FORWARD Hanytangen 13
ORDER BACKLOG QUARTERLY DEVELOPMENT 6 Rosenberg as of 31.12 2012 NOK billion. SHIPBUILDING OFFSHORE SERVICES ROSENBERG 5.0 5 4.8 4.7 4.0 4 3.9 3.8 3.3 3 3.0 2.6 2.3 2 1 0 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3…
BERGEN GROUP OFFSHORE Hanytangen as of February 2013: Island Innovator and Regalia 15
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…
BERGEN GROUP HANYTANGEN 2012-2014 As of February 5th, 2013 2012 2013 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Safe Scandinavia 2 x minor yard stay (April and July) Storage/ mooring Transocean Leader Yard stay: ca 90 days…
BERGEN GROUP SHIPBUILDING NB 168 from BMV: MRV (Multi Rescue Vessel) delivered to Atlantic Offshore end of February 2013. 20
SCHEDULED OUTFITTING ACTIVITY 2012-2015 21
SUBSTANTIALLY DE-RISK IN RUNNING PROJECTS Recent and ongoing projects: Provisions taken for completions of vessels to be delivered in 2013 BN89: Was delivered in October 2012. The vessel, owned by Volstad, has since then been on…
Outfitting Stavangerfjord (NB87) Progress of outfitting according to plan Conversion to LNG singel fuel system and steamturbine generator system Commissioning starts in March Delivery in April 2013 23
Hullbuilding Bergensfjord (NB 88) Significantly improved hull quality All units fixed on slipway Steel and pipe outfitting installation nearly completed Started preparation in engine area for conversion to LNG at hull yard…
BERGEN GROUP SERVICES 25
BERGEN GROUP SERVICES Major structural changes carried out BERGEN GROUP SERVICES Divestments of 3 companies in Q4-12 and Q1-13 BERGEN GROUP SKARVELAND Negative EBITDA of NOK 35 million, of which the BERGEN GROUP KIMEK most is…
STRATEGY AND ACTION POINTS (I) Regain profitability in the Shipbuilding and take a leading position as supplier of complex offshore service vessels Strong order books Improved processes and audit routines established:…
STRATEGY AND ACTION POINTS (II) Develop Hanytangen as the preferred rig service center in Norway Invest in people and organisation Invest in site Prefabrication factory Dry Dock Strengthened project management Camp and…
STRATEGY AND ACTION POINTS (III) Further integration and development of synergies of all groups competence and capabilities at Hanytangen site Pre-fabrication, electro, piping, welding, steel, Navy, Multi-functional…
IR AND MEDIA CONTACTS CEO Terje Arnesen tel. (+47) 906 89 130 terje.arnesenbergengroup.no CFO Stle Rene (finance) tel. (+47) 982 06 188 stale.renebergengroup.no VP Communication yvind Risnes (media), tel. (+47) 480 48…
BERGEN GROUP QUALITY THROUGH SERVICE AND INNOVATION THANK YOU FOR YOUR ATTENTION www.bergengroup.no 31
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