BERGEN GROUP Third quarter 2009 presentation Oslo, November 11th, 2009 Pl Engebretsen, CEO Bergen Group
AGENDA Highlights in Q3 09 Financial review Operational review Outlook 3
HIGHLIGHTS IN Q3 2009 Solid operating revenues of NOK 1,388 million up 50 percent from Q3 2008 Record high EBITDA of NOK 106 million in Q3 and NOK 271 million YTD. Third consecutive quarter with EBITDA growth Reiterates the…
AGENDA Highlights in Q3 09 Financial review Operational review Outlook 5
REVENUE GROWTH ALL TIME HIGH IN Q3 2009 QUARTERLY DEVELOPMENT Stable growth through all quarters in 2009 Satisfactory operations and development in most of the companies Operating revenues of NOK 1,388 million, NOK 485…
PROFIT GROWTH RECORD HIGH EBITDA QUARTERLY DEVELOPMENT NOK 271 mill in year-to- date EBITDA the double of same period last year. Year-to-date EBITDA margin of 7.1 %; 5.8 % in same period last year. Year-to-date EBIT of NOK…
INCOME STATEMENT CONDENSED CONSOLIDATED INTERIM INCOME STATEMENT (UNAUDITED) Condensed consolidated interim statement of income Figures in NOK million Q3 2009 Q3 2008 2) 30.09.2009 30.09.2008 31.12.2008 2) Operating revenues 1,388…
BALANCE SHEET 9
AGENDA Highlights in Q3 09 Financial review Operational review Outlook 10
FOUR BUSINESS AREAS SHIPBUILDING MARITIME SERVICE OFFSHORE TECHNOLOGY High end offshore Maintenance and New build: Offshore- and vessels; overhaul of engines maritime cranes - Offshore Seismic vessels: 2D, Authorized MTU Special…
PROFITABILITY BY SEGMENT Q3 09 & QUARTERLY DEVELOPMENT OPERATING REVENUES & EBITDA Q3 09 EBITDA MARGIN QUARTERLY DEVELOPMENT Gross operating revenues EBITDA SHIPBUILDING OFFSHORE NOK million MARITIME SERVICE TECHNOLOGY 900 BERGEN…
SHIPBUILDING RESOURCES & FINANCIALS SHIPBUILDING Q3 08 to Q3 09 NOK Gross operating revenues EBITDA NOK mill. 839 mill. 900 66 70 800 688 60 672 700 773 600 50 38 500 426 40 SHIPBUILDING 400 30 300 32 20 24 High end offshore…
STRONG MARGINS IN SHIPBUILDING High volume and strong margins at all Norwegian yards EBITDA-margin of 8.5 % in Q3 2009 and 6.4 % YTD Continued focus on building special purpose vessels for the high end market Yard capacity…
FUGRO SYNERGY MOST RECENT VESSEL DELIVERY Fugro Synergy a one of a kind light drill vessel prepared for complex offshore operations Extreme high flexibility with drilling equipment for operations in 3.000 meters water depth. The…
RECORD HIGH ACTIVITY IN OFFSHORE Three rig projects to be carried out at Hanytangen in 2009 Reduced order backlog within the division due to an expectant market situation Temporary pressure on contract margins as a…
TECHNOLOGY Strong operational performance within all core business areas Margin drop isolated to some projects in Q3 New contracts with accumulated value of NOK 71 mill after the expiration of Q3 Increased R&D focus on…
MARITIME SERVICE RESOURCES & FINANCIALS MARITIME SERVICE Q3 08 to Q3 09 KIRKENES: Kimek NOK Gross operating revenues EBITDA NOK mill. mill. 90 10 74 77 9 9 80 70 70 8 55 6 73 7 60 MARITIME SERVICE 50 6 5 40 5 4 5 30 4 3…
MARITIME SERVICE A FOCUS AREA Bergen Group Halsny Maritime Service Increased capacity and competence within Maritime Services Structural and operational steps considered to further strengthen the business area. Maritime…
SUMMARIZING ORDER BACKLOG Satisfactory backlog in QUARTERLY ORDER BACKLOG DEVELOPMENT view of the financing situation Existing order backlog will ensure high activity in 2010 The financial crisis have reduced volume of new…
AGENDA Highlights in Q3 09 Financial review Operational review Outlook 24
OUTLOOK Solid platform for handling the uncertainty in both the offshore- and shipbuilding industry Prepared to initiate capacity adjustments if necessary Still potential in improving the operational synergy effects within the…
BERGEN GROUP QUALITY THROUGH SERVICE AND INNOVATION THANK YOU FOR YOUR ATTENTION www.bergengroup.no 26 Source: Company
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