Second quarter 2015 Bergen 20 August 2015 20.08.2015 1 GC RIEBER SHIPPING
Agenda Highlights Q2 2015 Operational review Financial review Summary and outlook Polar Onyx 20.08.2015 2 GC RIEBER SHIPPING
Highlights second quarter Stable and good operations Fleet utilisation of 89 % Delivery of new seismic vessel Polar Empress Sale of subsea vessel Polar Prince Refinancing of five vessels successfully completed New charter…
Key figures REVENUES EBITDA NET PROFIT NOK million NOK million NOK million 300 180 258 250 241 241 142 250 224 150 134 214 130 150 200 120 113 114 103 44 47 50 150 90 100 60 50 36 50 30 150 0 0 250 201 Q214 Q314…
Contract update DOF Subsea Norway AS declared a one-month option of extension for Polar King New charter agreement with Sakhalin Energy Investment Company Ltd for the two crewboats Polar Baikal Polar King and Polar Piltun…
Delivery of new seismic vessel Polar Empress Advanced 3D seismic vessel with 22 streamers and ice class 1A* Delivered from Myklebust Verft (Kleven) 26 May 2015 Five years contract with Dolphin Geophysical from delivery Polar…
Contract backlog of NOK 3.2 billion* per 30 June 2015 CONTRACT COVERAGE* CONTRACT BACKLOG* Utilisation rate NOK million 100% 1 200 91% 79% 943 951 80% 900 765 61% 60% 600 564 40% 300 20% 0% 0 From 01.07.2015 2016…
Average duration of contract portfolio is 2.4 years 2015 2016 2017 2018 2019 VESSEL CHARTERER Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 SUBSEA Fixed Option Polar King Dof Subsea Norway AS Polar Queen BOA Marine…
Subsea Fleet utilisation 76 percent KEY FIGURES NOK million 100 percent in Q2 2014 200 Sale of Polar Prince in June Polar Prince and Polar King not 160 145 151 on charter part of the quarter 132 120 112 107 Market 80 72…
Marine Seismic Fleet utilisation 100 percent KEY FIGURES NOK million 82 percent in Q2 2014 150 Less vessels in operation in Q2 126 2014 due to yard stay for Polar 120 112 Marquis 102 90 Delivery of Polar Empress in 90 86 74…
Ice/ Support Fleet utilisation 100 percent KEY FIGURES NOK million 100 percent in Q2 2014 30 Management agreement for HMS Protector expired September 2014 20 EBITDA contribution of NOK 4,5 16 million from joint venture 12…
Income statement NOK mill Q2 2015 Q2 2014 1H 2015 1H 2014 2014 Operating income 240.8 214.4 464.7 382.3 881.5 EBITDA 141.7 113.3 255.6 189.1 453.5 EBIT 97.5 72.2 151.7 113.4 280.2 Net financial income and 5.6 -28.4 -84.2 -27.8…
Balance sheet per 30.06.2015 NOK million Total balance NOK 5 353 million 6 000 Equity ratio 46.3 percent Intangible 64 5 000 assets Cash position NOK 290 million Net debt NOK 2 548 million 4 000 2479 Equity Average duration…
Outlook Market view short term Uncertainty regarding the oil price development cause continued pressure on cost cuts and further reductions in the investment activity Uncertain trends in segments Subsea: Expectant, short term…
Summary Stable and good operations, but challenging market Delivery of new seismic vessel Polar Empress Refinancing of five vessels successfully completed New time charter for crew boats Polar Baikal and Polar Piltun Polar…
/ THANK YOU FOR LISTENING 20.08.2015 18 GC RIEBER SHIPPING
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