Q1 2013 EARNINGS CALL – Havila Shipping

Havila Shipping · Apr 23, 2013 · 24 slides

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Slides

Havila Shipping ASA 1st quarter 2013 accounts CEO Njl Svik CFO Arne Johan Dale 23.04.13
Todays News Extension of existing contracts with Fugro TSM 2005/2007 built Havila Harmony Extension of existing contract for four years firm 2 x 1 year optional periods Will keep the vessel working in Malaysia until end of April…
1st Quarter News Contract with Deepocean for 7 years firm period and 4x1 year optional periods for Havila Phoenix Prolongation of contract for 2013 with Subsea 7 for the IMR vessel Havila Subsea New contract with Statoil for the AHTS…
Facts and Figures Q1/Highlights Q1 13 Mill NOK Q1 12 Mill NOK Freight income 317 Freight income 327 Total income 330 Total income 357 EBITDA 136 EBITDA 117 EBITDA margin 43% EBITDA margin 33% Utilization 90% Utilization 93% Time…
Main figures NOK mill Q1 2013 Q4 2012 Q3 2012 Q2 2012 Q1 2012 Income and gains 330,4 340,8 360,7 353,7 357,5 EBITDA 135,6 41,0% 201,9 59,2% 148,8 41,2% 144,7 40,9 % 117,0 32,7 % Pre tax result -19,6 -5,9% 10,9 3,2% 21,2 5,9% -10,9…
Contractual coverage Fleet utilization (time charter fleet) 100% Q2 11: 95% 90% 0% Q3 11: 97% 2% 80% 2% 6% Q4 11: 92% 70% 60% 17% Q1 12: 94% 25% 50% 87% 31% 79% Q2 12: 93% 77% 40%…
Modern fleet Value adjusted fleet age: 4 years, 10 months Market value Fleet value: BNOK 8.4 6% Not including Havila Troll 21 % Booked value Fleet value: BNOK 7.6 Excess value: BNOK 0.8 73 % Long term financing Secured : BNOK 5.0…
Contract backlog 1400 1200 309 1000 33 147 939 800 199 252 600 453 831 757 400 620 496 354 200 305 275 251 242 0 Q1 13 Q2 13 Q3 13 Q4 13 2013 2014 2015…
Quarterly income 500 450 400 154 350 300 51 250 384 380 200 361 357 354 341 340 298 298 279 150 258 255 222 100 50 - Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4…
- 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 Crew Q1 11 96,2 39,2 61,2 23,0 Vessel Q2 11 102,9 43,6 61,2 17,4…
Key figures Q1 13 Q 4 12 Q3 12 Q2 12 Q1 12 Number of shares (1000) Antall aksjer (1000) 30 180 29 743 21 410 21 410 21 410 Average number of shares Gj.sn. Antall aksjer 29 932 21 820 21 410 21 410 21 410 Diluted number of shares…
Interest bearing debt NOK m illio n s NOK m ill Q1 1 3 Q4 1 2 Q3 1 2 Q2 1 2 Q1 1 2 Long term debt Langsiktig gjeld 5 371 5 525 4 957 5 065 5 181 Next years instalments Neste rs avdrag 730 736 728 502 448 To t al To t al 6 101 6 261 5…
Operating profit from segments 2013 111 120 9% 19 % 110 AHTS 100 PSV 90 32 % RRV 80 SubSea 72 35 % 64 70 -3 % Asia 60 53 53 49 49 49 48 46 50 40 29 2012 8% 26 30 10 % AHTS 16 16 14 1% 15 20 15…
Assets 10 000 9 000 831 870 8 000 897 814 812 793 1 022 147 162 7 000 224 212 216 219 166 1 068 1 178 947 1 759 6 000 145 116 849 858 71 5 000 142 58 68 7 653 7 552 4 000 6 984 6 942 6 899 6 874 6 867 5…
Assets relative 100 % 90 % 80 % 70 % 60 % 50 % 40 % 30 % 20 % 10 % 0% Q4 10 Q3 10 Q1 13 Q4 12 Q3 12 Q2 12 Q1 12 Q4 11 Q3 11 Q2 11 Q1 11 Q2 10 Q1 10 Vessels New buildings Other…
- 10 000 1 000 2 000 3 000 5 000 6 000 7 000 8 000 9 000 4 000 Q1 13 1 989 5 557 984 Q4 12 2 008 5 707 970 Q3 12 1 824 5 162 996 Equity Q2 12 1 782 5 286 832 Equity and liability Q1 12 1 809 5 327…
Equity and liability - relative 100 % 90 % 80 % 70 % 60 % 50 % 40 % 30 % 20 % 10 % 0% Q1 13 Q4 12 Q3 12 Q2 12 Q1 12 Q4 11 Q3 11 Q2 11 Q1 11 Q4 10 Q3 10 Q2 10 Q1 10 Equity Long…
Posh fleet utilization and contracts 2012 Utilization: 100% Q1: 69% Q2:98% Q3: 88% Q4:82% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Q1 13 Q2 13 Q3 13 Q4 13 2013 2014 2015 2016 COVEX OPT OPTIONS…
Vessels in Spot Market AHTS Havila Venus Havila Jupiter Havila Neptune PSV Havila Fortune (May)
Market comments Oil price still on acceptable level North Sea activity on all time high Large investments planned Deep water activity increases high end vessels attractive Financial market selective
Market comments Subsea Activity increasing Large backlog for clients Still demand for subsea vessels AHTS Volatile Spot market Number of rigs increasing PSV High tender activity Brazil back Fleet growth absorbed better than…
This is Havila Shipping ASA Head-office in Fosnavg, Norway Partnership with PACC Offshore in Singapore A fleet of 27 vessels 800 offshore staff 38 onshore Strong operating track record A qualified organisation focusing on human…
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 1 687 795 5,6 % PARETO WORLD WIDE SHIPPING AS…
Summary Refinancing plan in place Contracts signed as expected No capex 2013 contract coverage good Backlog BNOK 5.6 options included www.havilashipping.no 24

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