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Q2 2015 Earnings Call – Mcdermott International

Mcdermott International · Aug 10, 2015 · 11 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. Q2 2015 Earnings Call – Mcdermott International – slide 1
    2Q15 Supplemental Information August 10, 2015
  2. Q2 2015 Earnings Call – Mcdermott International – slide 2
    2015 Priorities Focus on executing the current 3.1 billion backlog safely and efficiently Prioritize bidding on opportunities where the Company has a local presence and competitive differentiators Actively manage costs and…
  3. Q2 2015 Earnings Call – Mcdermott International – slide 3
    2Q 2015 Financial Highlights Order intake during the quarter of 428.5 million Comprised of 294.7 million of new orders and 133.8 million of change orders Backlog of 3.1 billion, down slightly from 1Q 2015 Driven by strong revenue…
  4. Q2 2015 Earnings Call – Mcdermott International – slide 4
    2015 Revised Guidance March 15 Guidance Revised Guidance Revenues 3.3 - 3.6 billion 3.0 - 3.3 billion Operating Income 25 - 50 million 50 - 70 million Capex (excluding capitalized interest) 275 - 295 million 130 - 140 million…
  5. Q2 2015 Earnings Call – Mcdermott International – slide 5
    Key Project Awards - YTD 1 Timeline - Award Date to Expected Completion Field or Work Work Project 2015 2016 2017 1 2 3 Client Project Region Type Scope Size Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Chevron USA Jack & St. Malo AEA BF T&I…
  6. Q2 2015 Earnings Call – Mcdermott International – slide 6
    Revenue Pipeline Project Size 2Q15 Estimated total contract value As of June 30, 2015, contract value in millions Bids Target Description Range Backlog 1 Outstanding 2,3 Projects 2,4…
  7. Q2 2015 Earnings Call – Mcdermott International – slide 7
    Bids Outstanding and Target Projects 1 in billions 21 billion as of June 30, 2015 Business Line Oil/Gas Greenfield/Brownfield 15.2 15.2 11.4 9.6 5.8 5.8 Offshore Subsea Oil Gas Green Brown Segment Customer Contract…
  8. Q2 2015 Earnings Call – Mcdermott International – slide 8
    EBITDA and Collateral Covenant Compliance Compliance calculations as of June 30, 2015 LC Facility LC Facility Term Loan Covenant EBITDA1,2,3 Collateral Coverage Ratio1 Collateral Coverage Ratio1 278.3 2.19x 4.40x millions 1.20x…
  9. Q2 2015 Earnings Call – Mcdermott International – slide 9
    Additional Disclosures1 US GAAP Reconciliation of Covenant EBITDA to Net Income Quarter ended Quarter ended Quarter ended Quarter ended June 30, 2015 March 31, 2015 December 31, 2014 September 30, 2014 (In millions) Net Income (loss)…
  10. Q2 2015 Earnings Call – Mcdermott International – slide 10
    Asset Utilization Definitions Actual is the real activity level of vessels (denoted in days) and fabrication yards (denoted in man-hours) over a given period of time Standard is the assumed activity level of vessels (denoted in…
  11. Q2 2015 Earnings Call – Mcdermott International – slide 11
    Asset Utilization Summary Q2'15 Q1'15 Q2'14 Fabrication (Mhrs 000s) Actual 2,312 2,985 3,258 Standard 4,388 4,387 4,200 % of Standard 53% 68% 78% Offshore Vessels (Days) Actual 392 207 328 Standard 315 310 370 % of Standard 124%…

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