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ANNUAL FIGURES 2011 – FUGRO

FUGRO · Mar 9, 2012 · 45 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. ANNUAL FIGURES 2011 – FUGRO – slide 1
    Annual figures 2011 K.S. Wester A. Jonkman A. Steenbakker 9 March 2012 1 www.fugro.com
  2. ANNUAL FIGURES 2011 – FUGRO – slide 2
    2011 K.S. Wester 2 www.fugro.com
  3. ANNUAL FIGURES 2011 – FUGRO – slide 3
    Fugro 50 years Fugro revenue development 1962-2011 in (EUR x billion) 3.0 2.5 2.0 Revenue 1.5 1.0 0.5 - 3 87 91 95 99 03 07 11 67 71 75 79 83 96 19 19 19 19 20 20 20 19 19 19 19 19 /1 62…
  4. ANNUAL FIGURES 2011 – FUGRO – slide 4
    Results 2011 Net result EUR 287.6 million (2010: EUR 272.2 million), increase 5.7% Revenue EUR 2,577.8 million (2010: EUR 2,280.4 million), increase 13.0% Organic +7.6%; Acquisitions + 8.8%; Divestments 0.2% negative; Foreign…
  5. ANNUAL FIGURES 2011 – FUGRO – slide 5
    Major developments 2011 A lot of turmoil in the world in 2011 Record year for revenue and net profit Nine acquisitions Good backlog Long time financing secured 5 Annual figures 9 March 2012 www.fugro.com
  6. ANNUAL FIGURES 2011 – FUGRO – slide 6
    Market developments oil and gas Oil and gas market (75% of revenue) Firm global demand Stable oil price Continuing depletion Price pressure in some market segments Broadening services through recent acquisitions 6…
  7. ANNUAL FIGURES 2011 – FUGRO – slide 7
    Market developments infrastructure Market for infrastructure projects (19% of revenue) Focus on larger projects Governmental spending Stimulus programs Brazil and Far East up beat LNG opportunities 7 Annual figures 9…
  8. ANNUAL FIGURES 2011 – FUGRO – slide 8
    Market developments other markets (including mining) Other markets (6% of revenue) High demand for minerals Positioning activities remain healthy Governmental spending mixed picture Wind farm business continues to be good…
  9. ANNUAL FIGURES 2011 – FUGRO – slide 9
    Geotechnical division Cancelled project India Wind farm work remains good, but more competition Geoconsulting in demand Onshore activities in Far East, Central- and South America good Road maintenance services healthy Near…
  10. ANNUAL FIGURES 2011 – FUGRO – slide 10
    Geotechnical division (EUR x million) 2011 2010 Revenue Onshore Geotechnics 357 356 Revenue Offshore Geotechnics 313 308 Total 670 664 Result from operating activities 98 104 (EBIT) In % of revenue 15% 16% 10 Annual…
  11. ANNUAL FIGURES 2011 – FUGRO – slide 11
    Survey division After slow start good business climate New legislation Gulf of Mexico More demand from renewable market Pressure in some subsea activities Offshore construction related work Europe and Middle East improved…
  12. ANNUAL FIGURES 2011 – FUGRO – slide 12
    Survey division (EUR x million) 2011 2010 Revenue Offshore Survey 632 612 Revenue Subsea Services 440 275 Revenue Geospatial Services 119 122 Total 1191 1009 Result from operating activities 233 228 (EBIT) In % of revenue 20%…
  13. ANNUAL FIGURES 2011 – FUGRO – slide 13
    Geoscience division Overcapacity seismic vessels Good Multi Client sales Library increased Seismic interpretation did well OBN (Ocean Bottom Nodes) Strong recovery mining related work Falcon in demand 13 Annual figures…
  14. ANNUAL FIGURES 2011 – FUGRO – slide 14
    Geoscience Division (EUR x million) 2011 2010 Revenue Seismic Services 507 403 Revenue Geophysical & 210 204 Geological Services (including Information Services) Total 717 607 Result from operating activities 112 101…
  15. ANNUAL FIGURES 2011 – FUGRO – slide 15
    Vessels Delivered in 2011: Fugro Symphony ROV-support (owned) Fugro Galaxy survey (owned) Charters: Charter Geo Arctic terminated (2-D) Charter Seisquest and Geo Natuna under review (3-D) Charter ROV support vessel Fugro…
  16. ANNUAL FIGURES 2011 – FUGRO – slide 16
    Acquisitions in 2011 Survey Division TSmarine, Australia - Annual revenue EUR 90 million MR Subsea, Norway - Annual revenue EUR 5 million Geotechnical Division Bluestone, Singapore - Annual revenue EUR 15 million Geo-log,…
  17. ANNUAL FIGURES 2011 – FUGRO – slide 17
    Financials A. Jonkman www.fugro.com
  18. ANNUAL FIGURES 2011 – FUGRO – slide 18
    Revenue (EUR x million) 2700 2400 2100 1,403 1800 1,238 1,162 1,018 1500 977 1200 Revenue 2nd half year 900 Revenue 1st half year 600 1,175 993 1,035 1,042 826 300 0 2007 2008 2009 2010 2011 18 Annual figures…
  19. ANNUAL FIGURES 2011 – FUGRO – slide 19
    Revenue growth (In %) Organic Acqui- Disposals Exchange Total sitions rate differences 2011 7.6 8.8 (0.2) (3.2) 13.0 2010 6.0 0.4 - 4.7 11.1 2009 (5.6) 1.1 - (0.2) (4.7) 2008 23.4 4.0 - (7.9) 19.5 2007 22.9 6.4 (0.1) (3.5)…
  20. ANNUAL FIGURES 2011 – FUGRO – slide 20
    EBITDA, EBIT and Net result 600 550 500 450 400 350 300 250 200 2007 2008 2009 2010 2011 EBITDA EBIT Net result 20 Annual figures 9 March 2012 www.fugro.com
  21. ANNUAL FIGURES 2011 – FUGRO – slide 21
    Expenses as % of revenue 45 35 25 15 5 2007 2008 2009 2010 2011 Third party costs Staff costs Other operating expenses 21 Annual figures 9 March 2012 www.fugro.com
  22. ANNUAL FIGURES 2011 – FUGRO – slide 22
    Profit and Loss account Net finance costs (in EUR x million): Net finance costs 2011 2010 (EUR x million) Net interest charge 33.0 12.1 Net change fair value (3.9) (22.3) Rates of exchange (16.8) 5.1 Other 1.1 (1.1) Total…
  23. ANNUAL FIGURES 2011 – FUGRO – slide 23
    Investments (EUR x million) 2010 2011 2012* 2013* 2014* Maintenance capex 81 112 110 120 120 Capacity expansion 363 209 175 150 100 Total investments 444 321 285 270 220 Movement in assets under construction (45) (43) (50)…
  24. ANNUAL FIGURES 2011 – FUGRO – slide 24
    Refinancing USPP USD equivalent 909 million - Maturity 7, 10 and 12 years - Coupon (average) 4.5% Committed bank facilities totaling EUR 775 million - Maturity 5 years - Coupon EURIBOR plus 110 BPS - Used 55% Covenants (most…
  25. ANNUAL FIGURES 2011 – FUGRO – slide 25
    Statement of financial position Value seismic libraries increased to EUR 330 million (2010 EUR 199 million) Trade receivables much emphasis Working capital 2011 2010 (EUR x million) Inventories 364.9 219.0 145.9 Trade…
  26. ANNUAL FIGURES 2011 – FUGRO – slide 26
    Outlook A. Steenbakker Annual figures 9 March 2012 www.fugro.com
  27. ANNUAL FIGURES 2011 – FUGRO – slide 27
    Market prospects Oil & gas Healthy oil price External reports indicate growth in E&P spending in 2012 by 11% Continuing depletion, driving large investment Recovery in marine seismic Life of field focus Shale gas…
  28. ANNUAL FIGURES 2011 – FUGRO – slide 28
    Projects Brazil Deepwater drop coring project Long-term diving saturation contracts Provision of ROV and air diving services for Petrobras United Kingdom Two large Metocean contracts in the North Sea RoqSCAN worldwide agreement…
  29. ANNUAL FIGURES 2011 – FUGRO – slide 29
    Fleet renewal / expansion Name vessel Type of vessel Expected Owned/ delivery Chartered Fugro Equator Survey Q1-2012 Owned Fugro Brasilis Survey Q2-2012 Owned Fugro Australis Survey Q4-2012 Owned Fugro Voyager Geotechnical…
  30. ANNUAL FIGURES 2011 – FUGRO – slide 30
    Backlog at start of the year Cijfers(EUR moeten x million) nog worden aangepast 1800 1600 409 1400 452 334 256 1200 515 1000 Geoscience 808 800 783 Survey 805 717 Geotechnics 600 648 400 436 476 200 343 391…
  31. ANNUAL FIGURES 2011 – FUGRO – slide 31
    Outlook Year 2012 developing positively Increased spending oil & gas industry Good tender activity Improving backlog Recovery in marine seismic with improved pricing Survey and geotechnical will follow investments by oil and gas…
  32. ANNUAL FIGURES 2011 – FUGRO – slide 32
    Thank you www.fugro.com
  33. ANNUAL FIGURES 2011 – FUGRO – slide 33
    Annexes www.fugro.com
  34. ANNUAL FIGURES 2011 – FUGRO – slide 34
    Annexes Consolidated statement of comprehensive income Consolidated statement of financial position Backlog by division Number of employees Change in outstanding shares Distribution of shareholders Agenda Contact details 34…
  35. ANNUAL FIGURES 2011 – FUGRO – slide 35
    Consolidated statement of comprehensive income For the year ended 31 December (EUR x 1,000) 2011 2010 Revenue 2,577,765 2,280,391 Third party costs (994,037) (765,587) Net revenue own services (revenue less third party costs)…
  36. ANNUAL FIGURES 2011 – FUGRO – slide 36
    Consolidated statement of financial position (1/2) Per 31 December (EUR x 1,000) 2011 2010 Assets Property, plant and equipment 1,482,981 1,291,314 Intangible assets 782,386 576,433 Investments in equity-accounted investees 1,632 7,836…
  37. ANNUAL FIGURES 2011 – FUGRO – slide 37
    Consolidated statement of financial position (2/2) Per 31 December (EUR x 1,000) 2011 2010 Equity Share capital 4,070 4,014 Share premium 431,385 431,441 Reserves 932,735 800,644 Unappropriated result 287,595 272,219 Total 1,655,785…
  38. ANNUAL FIGURES 2011 – FUGRO – slide 38
    Geotechnical Services Backlog for the next twelve months (EUR x million) 500 450 400 219 350 206 300 199 250 174 143 Offshore Geotechnics 200 Onshore Geotechnics 150 257 230 100 192 153 169 50 0 2008 2009 2010 2011…
  39. ANNUAL FIGURES 2011 – FUGRO – slide 39
    Survey Services Backlog for the next twelve months (EUR x million) 850 800 96 75 750 96 700 84 650 600 86 273 294 550 256 500 245 450 207 Geospatial Services 400 Subsea Services 350 Offshore Survey 300 250 436 431 439…
  40. ANNUAL FIGURES 2011 – FUGRO – slide 40
    Geoscience Services Backlog for the next twelve months (EUR x million) 600 500 115 400 95 105 Geophysical and Geological 300 Services 111 Seismic Services 92 200 400 357 304 223 100 164 0 2008 2009 2010 2011 2012…
  41. ANNUAL FIGURES 2011 – FUGRO – slide 41
    Number of employees 14000 13000 12000 11000 10000 9000 8000 7000 End End End End End End End 2005 2006 2007 2008 2009 2010 2011 41 Annual figures 9 March 2012 www.fugro.com
  42. ANNUAL FIGURES 2011 – FUGRO – slide 42
    Change in outstanding shares 2011 2010 Outstanding at 1/1 80,269,684 78,772,478 Stock dividend 1,123,297 1,497,206 Outstanding at 31/12 81,392,981 80,269,684 Balance purchased for option scheme (31/12) 2,162,746 882,796…
  43. ANNUAL FIGURES 2011 – FUGRO – slide 43
    Distribution of shareholders (x 1,000 shares) 82,500 66,000 49,500 33,000 16,500 0 2006 2007 2008 2009 2010 2011 Netherlands UK USA Luxembourg Belgium Germany Switzerland France Other 43 Annual figures 9 March 2012…
  44. ANNUAL FIGURES 2011 – FUGRO – slide 44
    Agenda 2012 Friday 18 May Trading update first quarter 2012 Tuesday 22 May Annual General Meeting of Shareholders Friday 10 August Half-yearly figures 2012; press conference and analysts meeting (+ web cast) Thursday 16 November…
  45. ANNUAL FIGURES 2011 – FUGRO – slide 45
    Contact Fugro N.V. Address Veurse Achterweg 10 2264 SG Leidschendam P.O. Box 41 2260 AA Leidschendam The Netherlands Telephone +31 70 3111107 +31 70 3202703 (fax) E-mail irfugro.com Website www.fugro.com 45 Annual…

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