Navigating the present, focusing on the future. Second Quarter 2015 Conference Call July 21, 2015
Presentation Outline Executive Summary (pg. 4) Operational Highlights by Segment (pg. 8) Key Balance Sheet Metrics (pg. 13) 2015 Outlook (pg. 16) Non-GAAP Reconciliations (pg. 21) Questions & Answers Work class ROV XLX…
Executive Summary Navigating the present, focusing on the future. 4
Executive Summary ( in millions, except per share data) Three Months Ended Six Months Ended 6/30/2015 6/30/2014 3/31/2015 6/30/2015 6/30/2014 Revenues 166 306 190 356 559 Gross profit 24 109 35 59 185 15% 36% 18% 17% 33% Net income…
Executive Summary Q2 2015 loss of (0.03) per diluted share compared to earnings of 0.19 per diluted share in Q1 2015 Well Intervention Q2 2015 63% utilization of active well intervention vessels Gulf of Mexico 42% utilization (2…
Executive Summary Balance Sheet Liquidity* of approximately 1.0 billion at 6/30/2015 Funding of 250 million of Q5000 Term Loan on delivery of vessel Cash and cash equivalents totaled 500 million at 06/30/2015 Net debt of 294…
Operational Highlights Navigating the present, focusing on the future. 8
Business Segment Results ( in millions) 63% utilization across the active well intervention fleet Three Months Ended Q4000 worked 26 days; H534 was 6/30/2015 6/30/2014 3/31/2015 utilized 55% Well Enhancer fully utilized Revenues…
Well Intervention Gulf of Mexico Q4000 in dry dock most of Q2; vessel returned to work in early June, worked 26 days in the quarter Helix 534 was 55% utilized during the quarter; vessel was idle for 41 days IRS no. 2 rental unit…
Robotics 81% chartered vessel fleet utilization in Q2 61% utilization for ROVs, trenchers and ROVDrills Grand Canyon, T1200 and iTrencher fully utilized on a cable burial project offshore Qatar during Q2 Grand Canyon II entered…
Utilization 100% 98% 89% 86% 81% 81% 80% 68% 63% 61% 61% 60% Q2 2015 Q1 2015 40% Q2 2014 20% 0% Well Intervention Vessels ROV and Trencher Support Vessels ROVs and Trenchers Olympic Canyon 1 Skandi Constructor 1…
Key Balance Sheet Metrics Navigating the present, focusing on the future. 13
Debt Instrument Profile Total funded debt of 812 million at end of Q2 2015: Debt Instrument Profile at 6/30/2015 ( in millions) 200 million Convertible Senior Notes 3.25% 1 500 (182 million net of unamortized debt discount) 270…
2015 Outlook Navigating the present, focusing on the future. 16
2015 Outlook ( in millions, except per share data) 2015 2014 Outlook Actual Revenues 752 1,107 EBITDA 160 190 378 CAPEX 365 357 (1) Earnings per share 0.24 1.85 Revenue Split: Well Intervention 394 668 Robotics 308 420 Production…
2015 Outlook Total backlog as of June 30, 2015 was approximately 2.1 billion The Q4000 is expected to have good utilization for the remainder of 2015 The H534 is scheduled to enter dry dock in Q3 of 2015 for an estimated 45 days;…
2015 Outlook REM Installer utilization bolstered by customer preferred contractor status in the Gulf of Mexico Olympic Canyon to continue operations offshore India under firm commitment through early September; competitive bid…
2015 Outlook Capex 2015 capex is currently forecasted at approximately 365 million, consisting of the following: 256 million in growth capital; primarily for newbuilds currently underway, including: 154 million for Q5000 28 million…
Non-GAAP Reconciliations Navigating the present, focusing on the future. 21
Non-GAAP Reconciliations ( in millions) Three Months Ended Six Months Ended 6/30/2015 6/30/2014 3/31/2015 6/30/2015 6/30/2014 Net income (loss) applicable to common shareholders (3) 58 20 17 112 Adjustments: Income tax provision 1…
Navigating the present, focusing on the future. HLX Listed NYSE Follow Helix on Twitter - Helix_ESG www.linkedin.com/company/helix-energy-solutions-group
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