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RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore

Sbm Offshore · Jun 8, 2011 · 41 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. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 1
    SBM OFFSHORE N.V. RBS BENELUX EQUITIES CONFERENCE - AMSTERDAM 8 June 2011
  2. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 2
    Content The Company Operations Financial & Outlook Appendix page 3
  3. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 3
    Content The Company page 4
  4. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 4
    Activities Design, construction, turnkey supply, leasing & operation of: Floating (Production) Storage and Offloading (FPSO) Semi-Submersible Production Units Tension Leg Platforms (TLP) Mobile Production Units and Storage…
  5. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 5
    SBM Offshore Worldwide page 6
  6. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 6
    Business Model Integrated model creates cash flow and knowledge synergies page 7
  7. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 7
    Business Approach Invest only on the basis of contracts in hand Contract for firm lease periods ideally in excess of five years Revenues not exposed to oil price variations or (except in the Gulf of Mexico) reservoir risk Interest…
  8. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 8
    SBM Offshore Lease Fleet Norway Equatorial Guinea MOPUstor / YME FPSO / Aseng Canada Asia MOPU / Deep Panuke FSO / Yetagun FPSO / Kikeh USA Semi-Sub / Thunder Hawk Congo FSO / Nkossa II Angola FPSO / Mondo Brazil FPSO / Saxi…
  9. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 9
    Remaining Duration of Lease Contracts Firm order portfolio on long term contracts with robust clients page 10
  10. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 10
    Lease Contractors Production Units in Operation or Under Construction SBM 11 5 1 BW Offshore 12 3 Modec 11 1 Teekay 4 2 Bluewater 4 1 1 OSX 5 Sevan 2 1 2 Maersk 4 Bumi Armada 2 1 1 MISC 2 1 Saipem 2 1 Rubicon 2…
  11. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 11
    Strategic Objectives Expand the Lease & Operate fleet Selective approach to Turnkey Systems sales Strong growth foreseen in Turnkey Services with planned investment in new vessel Maintain market leadership position for converted…
  12. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 12
    General Outlook Oil price ensures economic viability of oil field developments High bidding activity with good prospects for the Companys products Recovery in the number of awards in the FPSO sector FLNG prospects development…
  13. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 13
    Technology Development Deepwater FourStarTM TLP MoorsparTM Riser Buoy Renewable Wave Energy Converter page 14
  14. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 14
    Technology Development LNG FPSO LNG Floating Production, Storage and Offloading (FPSO) COOLTM LNG Floating Hose page 15
  15. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 15
    Content Operations page 16
  16. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 16
    Highlights Q1, 2011 Turnover of US 683 million, 5 % below prior year Total order portfolio of US 11.3 billion not including recent major awards with an approximate total portfolio value of US 2 billion Letter of Intent for the…
  17. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 17
    Major Projects Delivered in 2010 Brazil Korea QGP - Drilling Rig I BP Skarv Turret Odebrecht - Drilling Rig II Brazil FPSO P-57 Brazil FPSO Capixaba page 18
  18. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 18
    Major Projects in Execution Singapore Petrobras Petrobras - FPSO Cidade de Woodside - FPSO Okha Noble Energy - Aseng Baleia Azul Paraty - (Lula NE) Abu Dhabi In transit Delba - Drilling Rig Encana - Deep Panuke Norway Tba…
  19. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 19
    Short Term Prospects Ghana Russia FPSO FPU (Gas) - Shtokman Tullow Oil Gazprom Brazil UK FLNG - Tupi Petrobras Turret - Quad 204 BP FPSO - Pilot 4 + 5 FPSO - Siri Petrobras Nigeria FPSO - Brasil DW CALM - Egina FPSO -…
  20. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 20
    FPSO Relocations Brazil Laid up FPSO Falcon Angola FPSO Capixaba Petrobras Brazil FPSO Espadarte FPSO Marlim Sul FPSO Brasil FPSO Xikomba Petrobras Petrobras Petrobras ENI Angola Projects Underway Prospects…
  21. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 21
    Content Financial & Outlook page 22
  22. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 22
    Key Figures Full Year 2010 (In millions of US) Turnover EBIT Net Profit 3,056 362.4 276 2,957 293.4 230 FY 2009 FY 2010 FY 2009 FY 2010 FY 2009 FY 2010 New Orders Order Portfolio Dividend (in US) 4,532 11,502 0.71 3,740…
  23. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 23
    Financial Overview Full Year 2010 Income Statement Total Group (in millions of US) 31/12/10 31/12/09 Change Comment % Turnover 3,056 2,957 3.4 65% Turnkey Systems, 26% Lease & Operate, 9% Turnkey Services Gross Margin 511 452 13.1…
  24. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 24
    Financial Overview Full Year 2010 Turnkey Systems (in millions of US) 31/12/10 31/12/09 Change Comment % Turnover 1,985 1,924 3.2 Finance leases US 681 million plus mainly Okha, P-57 & 3 rigs Gross Margin 270 187 44.4 Improved…
  25. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 25
    Financial Overview Full Year 2010 Turnkey Services (in millions of US) 31/12/10 31/12/09 Change Comment % Turnover 339 262 29.4 Evenly split Offshore Contracting vs. Mooring supply & services; 20% intersegment Gross Margin 75 70…
  26. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 26
    Financial Overview Full Year 2010 Lease and Operate (in millions of US) 31/12/10 31/12/09 Change Comment % Turnover 800 816 (1.9) Falcon & Oguzhan leases ended in 2009; First full year of Thunder Hawk in 2010 Gross Margin 166 195…
  27. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 27
    Financial Overview Full Year 2010 Ratios Total Group (in millions of US) 31/12/10 31/12/09 Change Comment % Capital Expenditure 519 656 (20.9) Excludes finance leases Debt 1,814 1,611 12.6 New US 750 million RCF, FPSO Aseng project…
  28. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 28
    Order Portfolio Backlog Full Year 2010 (in billions of US) 2011 2012 2013 2.7 1.3 1.2 Turnkey systems Turnkey Services Lease & Operate Total 2011 1.6 0.2 0.9 2.7 2012 0.4 - 0.9 1.3 2013 0.3 - 0.9 1.2 Beyond 2013 - - 6.3 6.3…
  29. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 29
    Financial Outlook 2011 Turnover in the same range as 2010, almost fully secured from current portfolio; EBIT margin from Turnkey Systems solidly in the 10% 15% range, taking into account a robust underlying operating margin and the…
  30. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 30
    Appendix page 31
  31. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 31
    Normand Installer page 32
  32. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 32
    FPSO Espirito Santo page 33
  33. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 33
    Yme MOPUstor page 34
  34. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 34
    Deep Panuke MOPU page 35
  35. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 35
    Thunder Hawk page 36
  36. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 36
    Photo courtesy of Petrobras FPSO P57 page 37
  37. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 37
    Drilling Rig page 38
  38. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 38
    Aseng FPSO page 39
  39. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 39
    FPSO Cidade de Paraty (Tupi NE) page 40
  40. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 40
    Paenal Yard page 41
  41. RBS BENELUX EQUITIES CONFERENCE – Sbm Offshore – slide 41
    DSCV page 42

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