Q1 2015 EARNINGS CALL – Havila Shipping

Havila Shipping · Apr 29, 2015 · 21 slides

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Slides

Havila Shipping ASA 1st Quarter 2015 CEO Njl Svik CFO Arne Johan Dale 29.04.15
Highlights Spot market has been challenging February and March better than last year Havila vessel in good position on Petrobras tender Havila Borg extended for one year with Shell Pressure from charterers on dayrates FX high…
Summary of facts and figures Q1 Q1 15 Mill NOK Q1 14 Mill NOK Freight income 400 Freight income 372 Total income 418 Total income 378 EBITDA (adjusted) 188 EBITDA (adjusted) 178 EBITDA margin 45 % EBITDA margin 47 % Utilization…
Figures
Main figures NOK mill Q1 2015 Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013 Income and gains 418,6 390.4 519.6 402.3 378.5 360.2 EBITDA (Adjusted) 187,8 44,9 217.9 55.8% 273.2 52.6% 190.2 47.3% 177.9 47.0% 171.3 47.6% Pre tax - - - result -…
FX exchange rates 12,0000 11,5000 11,0000 10,5000 10,0000 9,5000 9,0000 8,5000 8,0000 7,5000 7,0000 6,5000 6,0000 5,5000 5,0000 F13 M13 M13 F14 M14 M14 F15 M15 J13 J13 J13 S13 N13 J14 J14…
Interest bearing debt NOK millions Q1 15 Q4 14 Q3 14 Q2 14 Q1 14 Q4 13 Q3 13 Q2 13 Q1 13 Long term debt 4 944 5 012 4 836 4 890 5 416 4 827 5 341 5 184 5 371 Next year's instalments 991 899 1 106 1 104 652 1 106 698 923 730 Short…
Modern fleet Value adjusted fleet age: 6 years, 7 month Market value Fleet value: BNOK 8.4 5% 7% Not including Havila Troll Booked value Fleet value: BNOK 7.4 Excess value: BNOK 1.0 Long term financing 88 % Secured : BNOK 4.9…
Quarterly income 600 500 400 300 520 419 402 401 390 379 367 200 361 360 357 354 341 330 Foreign 100 WHT of MNOK 18 included - Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3…
Quarterly vessel expenses 250,0 225,0 18,9 36,9 36,8 21,3 24,8 200,0 37,5 9,2 19,5 9,6 10,0 10,3 13,3 32,8 26,1 25,6 175,0 17,9 9,6 18,9 25,9 18,9 20,5 25,5 18,1 24,7 20,4 150,0 26,5 47,4 42,2 41,1 41,2 45,4 45,0 46,0 41,1 40,2…
Operating profit from segments 150 140 143 130 120 110 100 90 80 86 85 85 81 79 70 76 75 70 60 62 60 60 50 57 56 55 55 54 53 51 51 50 50 49 40 46 30 40 29 20…
Contractual coverage Fleet utilization Contract coverage 2015-2019 (time charter fleet) Q4 11: 92% 90% Q1 12: 94% 2% 80% 2% 5% Q2 12: 93% 18% 70% Q3 12: 93% 60% 30% Q4 12: 90% Q1 13: 88% 50% 27% 84%…
Contract backlog 1 600 1 400 1 200 1 000 1 040 800 600 1 050 400 687 419 370 419 340 404 330 200 268 261 - Q1 15 Q2 15 Q3 15 Q4 15 2015 2016 2017 2018 2019…
Key figures EBITDA % VALUE PER SHARE EARNINGS PER SHARE 60% 100 4,00 98 98 97 97 95 95 95 95 3,00 55% 92 2,22 2,40 53% 53% 90 89 2,00 50% 50% 50% 85 1,23 0,87 1,00 48% 47% 80 0,56 47% 45% 45% 75 - Q113 Q213 Q313 Q413…
Assets 10 000 100 % 9 000 90 % 870 831 8 000 814 841 742 967 831 869 821 842 80 % 812 814 897 7 000 70 % 6 000 60 % 5 000 50 % 7 653 7 552 7 555 7 539 7 525 7 507 7 504 7 489 7 472 7 431 4 000 40 % 6…
- 10 000 1 000 2 000 3 000 4 000 5 000 6 000 7 000 9 000 8 000 Equity Q1 12 1 809 5 327 791 Q2 12 1 782 5 286 832 Q3 12 1 824 5 162 996 Q4 12 2 008 5 707 970 Q1 13 1 989 5 557 984 Q2 13 2 008 5 286 1 151…
Summing up
Spot market Q2 15 Vessels AHTS Havila Venus Havila Jupiter Havila Neptune Havila Mars (June) PSV Havila Crusader Market Challenging spot market Petrobras tender 18
This is Havila Shipping ASA Head-office in Fosnavg, Norway Offices in Rio Labuan Aberdeen Partnership with POSH in Singapore A fleet of 27 vessels 800 offshore staff 46 onshore Strong operating track record A qualified…
Largest shareholders Shareholder Address Shares Interest Havila Holding AS FOSNAVG 15 379 717 51,0 % Odin Offshore OSLO 2 551 378 8,5 % Pareto Aksje Norge OSLO 1 246 499 4,1 % Torghatten ASA BRNNYSUND 1 223 100 4,1 % The Northern Trust…
Summary Satisfied with first quarter under actual circumstances Focusing on keeping vessels working Co-operation with charterers to keep the vessels on Bank balloons 2015 refinanced 2016 maturities Focus on bank balloons Bond…

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