Q3 2013 EARNINGS CALL – Havila Shipping

Havila Shipping · Oct 23, 2013 · 24 slides

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Slides

Havila Shipping ASA 3rd quarter 2013 accounts 23.10.13
Facts and Figures Q3/Highlights Q3 13 MNOK Q3 12 MNOK Freight income 398 Freight income 347 Total income 401 Total income 361 EBITDA (adjusted) 215 EBITDA (adjusted) 145 EBITDA margin 53 % EBITDA margin 40 % Utilization 93,7%…
Facts and Figures YTD/Highlights YTD 13 MNOK YTD 12 MNOK Freight income 1 076 Freight income 1 022 Total income 1 099 Total income 1 072 EBITDA (adjusted) 532 EBITDA (adjusted) 407 EBITDA margin 49 % EBITDA margin 38 % Utilization…
Highlights Year to date Havila Harmony Four years (2017) two optional years (2019) Havila Phoenix Seven years (2021) four optinal years (2025) Havila Subsea One year (2015) two optional years (2016) Havila Mars One Year (2014) one…
Main figures NOK mill Q3 2013 Q2 2013 Q1 2013 Q4 2012 Q3 2012 Income and gains 401.5 367.1 330.4 340.8 360.7 EBITDA 214.5 53.4% 182.8 49.8% 135.6 41.0% 201.9 59.2% 148.8 41.2% Pre tax result 75.8 18.9% 33.0 9.0% -19.6 -5.9% 10.9 3.2%…
Tax assessment After end of third quarter, The tax authorities have changed the tax assessment related to purchase of ownership of two vessels in fourth quarter 2012. The company disagree with the tax authorities Will dispute the…
Interest bearing debt NOK m illio n s NOK m ill Q3 1 3 Q2 1 3 Q1 1 3 Q4 1 2 Q3 1 2 Long term debt Langsiktig gjeld 5 341 5 184 5 371 5 525 4 957 Next years instalments Neste rs avdrag 698 923 730 736 728 To t al To t al 6 038 6 107 6…
Refinancing activities 578 600 475 500 400 300 300 200 150 100 45 48 45 48 - Q1 14 Q2 14 Q3 14 Q4 14 Balloon repayment Refinanced BOND Refinancing agreements reached for 6 of 7 vessels with 2014 balloon repayment 8
Modern fleet Value adjusted fleet age: 5 years, 4 month Market value Fleet value: BNOK 8.4 6% Not including Havila Troll 21 % Booked value Fleet value: BNOK 7.4 Excess value: BNOK 0.9 73 % Long term financing Secured : BNOK 5.0…
- 100 150 200 250 300 350 400 450 500 50 Q1 10 222 Q2 10 279 154 Q3 10 298 Q4 10 Best quarter ever 255 Quarterly income Q1 11 258 51 Q2 11 298 Income Q3 11 384 Q4 11 380 Q1 12 357 Gains from…
- 100,0 150,0 200,0 250,0 50,0 Q1 10 68,9 26,9 26,8 12,9 Q2 10 70,1 30,2 27,2 11,2 Q3 10 85,1 39,7 49,5 18,5 Q4 10 98,0 44,8 53,6 24,3 Q1 11 96,2 39,2 61,2 23,0 Crew Q2 11 102,9 43,6 61,2 17,4 Vessel…
Operating profit from segments 2013 111 120 8% 110 AHTS 30% 100 PSV 28% 90 RRV 76 75 80 SubSea -3% 64 70 Asia 62 36% 56 60 53 53 51 50 49 49 50 40 2012 29 8% 26 30 10 % 16 16…
Contractual coverage Fleet utilization (time charter fleet) 1 Q3 11: 97% 0,9 0% Q4 11: 92% 0,8 17 % Q1 12: 94% 0,7 29 % 0,6 Q2 12: 93% 38 % 0,5 87 % Q3 12: 93% 0,4 46 % 64 % 0,3 40 % Q4 12:…
Contract backlog 2 500 2 000 986 1 500 105 1 000 284 382 1 373 500 1 081 471 756 2 586 315 287 - Q4 13 2014 2015 2016 2017 From 2018 Annual backlog Annual option Quarterly backlog Quarterly…
Key figures Q3 13 Q2 13 Q1 13 Q 4 12 Q3 12 Number of shares (1000) Antall aksjer (1000) 30 180 30 180 30 180 29 743 21 410 Average number of shares Gj.sn. Antall aksjer 30 180 30 180 29 932 21 820 21 410 Diluted number of shares…
Assets 10 000 9 000 897 870 8 000 1 022 793 812 814 831 814 841 162 147 94 93 7 000 166 219 216 212 224 1 178 1 759 1 068 6 000 947 858 849 116 145 71 5 000 68 58 142 7 653 7 552 7 539 7 525 4 000 6 984 6…
Assets relative 100 % 90 % 80 % 70 % 60 % 50 % 40 % 30 % 20 % 10 % 0% Q4 10 Q1 10 Q2 10 Q3 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Vessels New buildings…
- 10 000 1 000 2 000 3 000 5 000 6 000 7 000 8 000 9 000 4 000 Q1 10 1 687 3 731 570 Q2 10 1 769 3 567 619 Q3 10 1 763 3 906 612 Q4 10 1 695 4 102 888 Equity Q1 11 1 641 4 473 728 Equity and liability…
Equity and liability - relative 100 % 90 % 80 % 70 % 60 % 50 % 40 % 30 % 20 % 10 % 0% Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Equity Long…
Vessels in Spot Market AHTS Havila Venus Havila Jupiter Havila Neptune PSV Havila Clipper (from November)
Market comments Subsea High Activity Record backlog for clients AHTS Volatile Spot market This year better than last year Activity increasing PSV High activity Fleet growth absorbed better than expected 21
This is Havila Shipping ASA Head-office in Fosnavg, Norway Offices in Rio Labuan Aberdeen Partnership with PACC Offshore in Singapore A fleet of 27 vessels 800 offshore staff 40 onshore Strong operating track record A…
Largest shareholders Shareholder/Aksjonr Address/Adresse Shares/Aksjer Interest/Shares HAVILA HOLDING AS FOSNAVG 15 227 130 50,5 % ODIN OFFSHORE OSLO 2 042 500 6,8 % PARETO AKSJE NORGE OSLO 1 698 795 5,6 % PARETO WORLD WIDE SHIPPING AS…
Summary Refinancing Contracts signed Record long contract backlog Backlog BNOK 6.6 options included No capex / No newbuilds www.havilashipping.no 24

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