Q3 2010 EARNINGS CALL – Havila Shipping

Havila Shipping · Oct 28, 2010 · 40 slides

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Slides

Presentation 3rd Quarter 2010
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…
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…
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…
RD 3 QUARTER ACCOUNTS Havila Jupiter working on a rig move
Highlights 3rd quarter 2010 Freight revenues NOK 295 mill EBITDA NOK 105 mill Havila Troll in North Sea EPS -0,39 Havila Fan delivered from Simek in August Bareboat of Havila Commander (Troms Artemis) Third vessel arrived in…
Third quarter 298 296 EBITDA and EBIT excl profit from sale of vessels 217 Income better than in 2009 because of new vessels 105 105 70 EBITDA at same level 60 Financial items better in Q3 10 2009 INCOME PROFIT…
Main figures NOK mill Q3 2010 Q2 2010 Q1 2010 Q4 2009 Q3 2009 Income and gains 298,0 433,2 222,3 216,9 217,4 EBITDA 105,2 35% 294,5 68% 86,9 39% 96,1 44% 104,9 48% EBIT 59,7 20% 250,3 58% 45,1 20% 59,1 27% 70,4 32% Pre tax result…
Fleet utilization 97 % 96 % 96 % 95 % 95 % 95 % 93 % 93 % 93 % 93 % 93 % 92 % 92 % 92 % 92 % 91 % 91 % 91 % 91 % 90 % 90 % 90 % 89 % 87 % Oct Nov Dec Jan Feb Mar…
Vessels Newbuilds Quarterly income 2007 Q1 9 11 Q2 10 12 500 Sale of Havila Force Q3 450 9 13 Q4 10 12 400 2008 154 Sale of Fame, Mars and Mercury Q1 350 Leaseback Mars & Mercury 310 11 11 300 Q2 12 11 Q3 13 11 250…
Quarterly operating expenses 250,0 NOK mill 200,0 18,5 % of total expenses 49,5 150,0 27,2 11,2 100 % 26,9 26,8 12,9 90 % 22,8 27,4 13,6 22,7 27,1 8,6 39,7 20,1 27,4 10,1 80 % 24,1 27,4 13,5 17,6…
Quarterly freight income and operating expenses 295 294 300 277 248 250 221 217 215 211 212 193 200 158 154 141 140 139 137 135 150 121 116 112 107 104 102 96 94 100…
Operating profit from segments Excluding gains from sale of vessels YTD 2010 50 45 46 PSV 45 SubSea 28 % 23 % 40 42 41 RRV 7% AHTS 35 ASIA 21 % 21 % 32 30 32 30 28 28 25 26 26 25 25…
Assets 7 000 100 % 90 % Vessels New buildings Other Current 6 000 947 80 % 849 858 5 000 467 720 70 % 532 520 833 570 595 60 % 4 000 961 50 % 892 3 000 40 % 4 796 4 542 4 516 30 % 2 000 4 116 3 208 3 105 20 % 1…
Equity and liability 7000 100 % 90 % 6000 Equity Long term debt Short term liability 612 619 570 80 % 470 5000 70 % 500 458 60 % 4000 3906 3567 3731 50 % 3331 3000 2944 2 797 40 % 2000 30 % 20 % 1000 1763 1769 1687 1703…
Cash flow statement NOK 1000 YTD 10 YTD 09 Cash from operating activity Kontantstrm fra drift 41 757 133 526 Kontantstrm fra Cash flow from investing activity investeringer -548 513 - 1 077 044 Cash flow from financing activity…
Financial items Q3 10 Q2 10 Q1 10 Q4 09 Q3 09 2009 Interest income Renteinntekter 2 326 523 2 450 2 325 1 447 10 690 Agio Agio 15 444 23 538 18 457 146 324 12 764 208 572 Unrealised agio on loans Urealisert agio p ln -126 251 158 169…
Key figures Q3 10 Q2 10 Q1 10 Q4 09 Q3 09 Q2 09 Number of shares (1000) Antall aksjer (1000) 15 960 15 960 15 960 15 960 15 960 15 960 Earnings per share Fortjeneste per aksje -0,39 5,14 -0,95 1,32 15,08 5,14 Book equity per share…
Interest bearing debt NOK 1 000 Q3 10 Q2 10 Q1 10 Q4 09 Q3 09 Long term debt Langsiktig gjeld 3 624 086 3 329 330 3 540 790 3 137 403 2 733 340 Next years instalments Neste rs avdrag 274 883 249 659 258 658 217 091 167 912…
Modern fleet Value adjusted fleet- age Fleet values NOK 5.5 billion Not including Mars, Mercury & Troll Market value of vessels increased slightly first half of 2010 +1,9% Booked values NOK 4.8 billion 9% Contract values on…
Fleet-age 96-99 03/05 07 08 09 10 11 Fortress 96 Troll 03 Mars Foresight Phoenix Clipper Jupiter Saturn Mercury Hery Faith 98 Neptune Newbuildings: Charisma Venus Princess 05 Favour 99 Fan Posh Viking Posh Virtue…
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 Tree vessels owned 4th vessel was delivered 6th July…
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…
Contract status POSH fleet .
50 % 55 % 60 % 65 % 70 % 75 % 80 % 85 % 90 % 95 % 84 % Oct 89 % 94 % Nov 89 % 69 % Dec 87 % Month 66 % Jan 66 % 69 % Feb 67 % 92 % Mar 76 % Year to date 89 % April 79 % 90 % May…
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…
New buildings PSV Havila Clipper 1xPSV Troms Apollo (Havila Crusader) VS 485 1 x PSV Fjellstrand Havyard 832 CD design Length/ Breadth 80,4/17,60 800 m3 deck- area DP 2, clean and comfort class, catalyst
Contract status
Contractual coverage
Shareholders 30.09.2010 Number of In% Name shares 8 031 450 50,3 HAVILA AS NOR 1 223 100 7,6 TORGHATTEN ASA NOR 1 062 001 6,7 DnBNOR MARKETS NOR 886 760 5,6 PARETO AKSJE NORGE NOR 614 500 3,9 VERDIPAPIRFOND ODIN OFFSHORE NOR…
Market comments POSH Viking and Virtue outside Sudan Spot market weaker in third quarter than second PSV market better than 2009 AHTS at 2009 level Fourth quarter has started week Spot market expected to be fluctuating for AHTS…
Vessels in spot market Q4 10 AHTS Havila Saturn Havila Venus Havila Jupiter PSV Havila Commander (Troms Artemis)
Summary Havila Shipping is focused on modern high-end vessels Vessels for delivery in 2010 financed SubSea vessel for delivery in 2011 financed during Q2 Financing of Havila Clipper for delivery in January 2011 Secured bond loan…
Financial calendar 2010 27.01.11 Preliminary result for 2010/4th Quarter 2010 Contact: CEO NJL SVIK (+47) 909 35 722 njaalhavila.no CFO ARNE JOHAN DALE (+47) 909 87 706 ajdhavila.no
P & L ACCOUNT BALANCE SHEET
P & L account Q3 2010 NOK 1000 Q3 10 Q3 09 2009 Freight income Fraktinntekter 295 006 100,0% 211 938 100,0% 886 887 100,0% Profit by sale of assets Gevinst ved salg av aktiva Other income Andre inntekter 2 996 1,0% 5 434 2,6% 14 320…
Balance sheet - assets Assets Eiendeler Q3 10 Q2 10 Q1 10 Q4 09 Q3 09 Fixed assets Anleggsmidler V essels Farty 4 795 653 4 515 570 4 542 484 4 116 038 3 208 046 Buildings, o ffic e equipment etc Bygninger, ko nto rutstyr mv 6 295 8 286…
Balance sheet - equity and liabilities Ecuity and liabilities Egenkapital og gjeld Q3 10 Q2 10 Q1 10 Q4 09 Q3 09 Equity Egenkapital S hare c apital Aksjekapital 199 500 199 500 199 500 199 500 199 500 Own shares Egne aksjer -1 938 -1…

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