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Q4 2010 – Havila Shipping

Havila Shipping · Jan 27, 2011 · 36 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. Q4 2010 – Havila Shipping – slide 1
    Presentation 4th Quarter 2010 Preliminary accounts 2010
  2. Q4 2010 – Havila Shipping – slide 2
    This is Havila Shipping ASA 9 Head-office in Fosnavg, Norway. 9 Partnership with PACC Offshore in Singapore 9 A fleet of 29 vessels included a new-building program of 3 modern vessels within 2011 . 92 vessels owned by Havila Ariel…
  3. Q4 2010 – Havila Shipping – slide 3
    Havila Shipping.. 9 a modern fleet 9 a preferred partner within offshore services vessels 9 extending the international activity 9 maintaining a balanced mix between long contracts and spot market 9 focusing on safe…
  4. Q4 2010 – Havila Shipping – slide 4
    Safety & Quality focused Havila Shipping ASA has a clear goal of improving its performance with regards to health, safety and environment both at sea and onshore. The companys goal is for its ships to fulfill or exceed our…
  5. Q4 2010 – Havila Shipping – slide 5
    TH 4 QUARTER ACCOUNTS Havila Clipper delivered 5th January 2011
  6. Q4 2010 – Havila Shipping – slide 6
    Highlights 4th quarter 2010 Freight revenues NOK 265 mill EBITDA NOK 47 mill EPS -4,27 Bareboat of Havila Crusader form December Posh Virtue bought (earlier financial lease) 91% fleet utilization (time charter fleet) Havila…
  7. Q4 2010 – Havila Shipping – slide 7
    Fourth quarter Havila Clipper 268 EBITDA and EBIT excl profit from sale of vessels 217 96 Income better than in 2009 because of new vessels 59 47 30 EBITDA redused -1 Financial items better in Q4 2009 INCOME PROFIT…
  8. Q4 2010 – Havila Shipping – slide 8
    Main figures NOK mill Q4 2010 Q3 2010 Q2 2010 Q1 2010 Q4 2009 Income and gains 268,1 298,0 433,2 222,3 216,9 EBITDA 47,4 18% 105,2 35% 294,5 68% 86,9 39% 96,1 44% EBIT -1,3 -0,5% 59,7 20% 250,3 58% 45,1 20% 59,1 27% Pre tax result…
  9. Q4 2010 – Havila Shipping – slide 9
    Fleet utilization 97 % 96 % 95 % 95 % 95 % 94 % 93 % 93 % 93 % 93 % 93 % 93 % 93 % 92 % 92 % 91 % 91 % 91 % 91 % 90 % 90 % 90 % 89 % 88 % Jan Feb Mar Apr May June July Aug…
  10. Q4 2010 – Havila Shipping – slide 10
    Quarterly income 500 Vessels Newbuilds 450 Q4 10: 2008 Vessels offhire Q1 Sale of Fame, Mars and Mercury 400 Low utilizations Leaseback Mars & Mercury Adjustments of previous periods 154 11 11 350 Q2 12 11 310 Q3 13 11…
  11. Q4 2010 – Havila Shipping – slide 11
    Quarterly operating expenses 250,0 Q3: (with full effect from Q4) Havila Commander on bareboat from July Havila Fan delivered late August NOK mill 24,5 200,0 Havila Faith and Havila Princess in Brazil Q4: 18,5 Havila…
  12. Q4 2010 – Havila Shipping – slide 12
    Quarterly freight income and operating expenses 294 295 300 277 268 248 250 221 221 217 215 212 211 193 200 158 141 139 135 150 121 116 112 107 104 102 96 100…
  13. Q4 2010 – Havila Shipping – slide 13
    Operating profit from segments Excluding gains from sale of vessels 2010 50 45 46 PSV SubSea 23 % 29 % 40 42 41 RRV AHTS 6% 35 ASIA 19 % 23 % 32 30 32 30 28 28 25 26 26 25 25 24…
  14. Q4 2010 – Havila Shipping – slide 14
    Assets 8 000 100 % 90 % 7 000 Vessels New buildings Other Current 80 % 6 000 1 178 947 849 858 70 % 5 000 613 467 720 532 520 833 60 % 570 595 4 000 50 % 961 892 40 % 3 000 4 773 4 796 4 516 4 542 30 % 2 000 4 116 3…
  15. Q4 2010 – Havila Shipping – slide 15
    Equity and liability 8000 100 % 7000 Equity Long term debt Short term liability 90 % 888 80 % 6000 612 619 570 70 % 470 5000 500 60 % 458 4000 50 % 4102 3906 3567 3731 3331 3000 2944 40 % 2 797 30 % 2000 20 % 1000 1763…
  16. Q4 2010 – Havila Shipping – slide 16
    Cash flow statement NOK 1000 2010 2009 Cash from operating activity Kontantstrm fra drift 33 063 206 779 Kontantstrm fra Cash flow from investing activity investeringer - 772 718 - 1 652 998 Cash flow from financing activity…
  17. Q4 2010 – Havila Shipping – slide 17
    Key figures Q4 10 Q3 10 Q2 10 Q1 10 Q4 09 Q3 09 Q2 09 Q1 09 Number of shares (1000) Antall aksjer (1000) 15960 15960 15960 15960 15960 15960 15960 15960 Earnings per shares Fortjeneste per aksje - 4,27 - 0,39 5,14 - 0,95 1,32 15,08…
  18. Q4 2010 – Havila Shipping – slide 18
    Interest bearing debt NOK 1 000 Q4 10 Q3 10 Q2 10 Q1 10 Q4 09 Long term debt Langsiktig gjeld 3 945 484 3 624 086 3 329 330 3 540 790 3 137 403 Next years instalments Neste rs avdrag 465 416 274 883 249 659 258 658 217 091…
  19. Q4 2010 – Havila Shipping – slide 19
    Modern fleet Value adjusted fleet- age Fleet values NOK 5.4 billion Not including Mars, Mercury & Troll Market value of vessels increased slightly first half of 2010 +1,9% Slightly down in second half mostly because of lower…
  20. Q4 2010 – Havila Shipping – slide 20
    Fleet 96-99 03/05 07 08 09 10 11 Fortress 96 Troll 03 Mars Foresight Phoenix Clipper Jupiter Saturn Mercury Hery Faith 98 Neptune Fan Charisma Venus Princess 05 Favour 99 Commander Posh Viking Posh Virtue Harmony…
  21. Q4 2010 – Havila Shipping – slide 21
    POSH Havila Pte Ltd, Singapore Joint venture company established 2006 50/50 owned by Pacc Offshore Services Holding Pte Ltd and Havila Shipping ASA through 100% owned company Four vessels owned Posh Virtue bought in Q4 10 POSH…
  22. Q4 2010 – Havila Shipping – slide 22
    POSH vessel operations 10,800 BHP AHTS 125 tons BP DP2 Operating 29th July 2008 POSH Veritas (Sold) POSH Viking 8th October 2008 POSH Vibrant 13th December 2008 POSH Voyager 20th January 2009 POSH Victory (Sold) 3rd April…
  23. Q4 2010 – Havila Shipping – slide 23
    Posh fleet utilization and contracts 92 % 95 % 90 % 89 % 88 % 90 % 100 % 86 % 85 % 90 % 82 % 82 % 82 % 85 % 81 % 81 % 81 % 81 % 81 % 80 % 80 % 79 % 77 % 80 % 76 % 76…
  24. Q4 2010 – Havila Shipping – slide 24
    New buildings SubSea Acergy Havila (will be sold to JV company) Havila Carisma SubSea Diving vessel : SubSea IMR: Havyard 858 DSV design Length 120m Havyard 855 design Breadth 23 m Length/ Breadth: 95 m/ 20 m 250 tons offshore crane…
  25. Q4 2010 – Havila Shipping – slide 25
    Contract status
  26. Q4 2010 – Havila Shipping – slide 26
    Contractual coverage
  27. Q4 2010 – Havila Shipping – slide 27
    Shareholders 18.01.2011 Shareholder/Aksjonr Address/Adresse Type Aksjer/Shares Andel/Interest Havila AS Fosnavg 8 031 450 50,3 % Torghatten ASA Brnnysund 1 223 100 7,7 % DnBNOR Markets ASA Oslo 1 052 001 6,7 % Pareto Aksje Norge Oslo…
  28. Q4 2010 – Havila Shipping – slide 28
    Market comments Spot market weaker in fourth quarter than third First quarter has started week Spot market expected to be fluctuating for AHTS vessels Rate level on long time contracts on acceptable levels Focus on specialized…
  29. Q4 2010 – Havila Shipping – slide 29
    Vessels in spot market Q1 11 AHTS Havila Saturn Havila Venus Havila Jupiter PSV Havila Commander Havila Clipper (Statoil from april)
  30. Q4 2010 – Havila Shipping – slide 30
    Summary Havila Shipping is focused on modern high-end vessels Vessels for delivery in 2011 Acergy Havila to delivered in February Havila Charisma to be delivered in April Looking for fixed contracts for vessels in spot market…
  31. Q4 2010 – Havila Shipping – slide 31
    Financial calendar 2011 27.01.11 Preliminary account for 2010/4th Quarter 2010 22.03.11 Annual report 28.04.11 Ordinary general meeting 29.04.11 1st Quarter 2011 22.07.11 2nd Quarter 2011 20.10.11 3rd Quarter 2011 26.01.12 Preliminary…
  32. Q4 2010 – Havila Shipping – slide 32
    P & L ACCOUNT BALANCE SHEET
  33. Q4 2010 – Havila Shipping – slide 33
    P & L account P & L ACCOUNT NOK 1000 RESULTAT NOK 1000 Q4 10 Q3 10 Q2 10 Q1 10 Q4 09 Freight income Fraktinntekter 265 145 295 006 277 438 221 195 211 357 Profit by sale of assets Gev inst v ed salg av aktiv a 0 0 154 402 Other income…
  34. Q4 2010 – Havila Shipping – slide 34
    Balance sheet - assets BALANCE SHEET - Assets BALANSE - Eiendeler 31/12/10 30/09/10 30/06/10 31/03/10 31/12/09 Fix ed assets Anleggsmidler Vessels Farty 4 773 223 4 795 653 4 515 570 4 542 484 4 116 038 Buildings, office equipment etc By…
  35. Q4 2010 – Havila Shipping – slide 35
    Balance sheet - equity and liabilities Equity and liabilities Egenkapital og gjeld 31/12/10 30/09/10 30/06/10 31/03/10 31/12/09 Equity Egenkapital Share capital Aksjekapital 199 500 199 500 199 500 199 500 199 500 Ow n shares Egne aksjer…
  36. Q4 2010 – Havila Shipping – slide 36

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