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August 2015 Investor Presentation – Farstad Shipping Asa

Farstad Shipping Asa · Aug 21, 2015 · 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. August 2015 Investor Presentation – Farstad Shipping Asa – slide 1
    Rederiforbundet 21.08.15 Karl-Johan Bakken - CEO Torstein L. Stavseng - CFO Presentasjon av Farstad Shipping ASA
  2. August 2015 Investor Presentation – Farstad Shipping Asa – slide 2
    Farstad Shipping ASA 100% 100% 100% 100% 100% 100% 100% 100% Farstad Shipping Farstad Farstad Shipping SA Farstad Shipping Farstad Farstad Farstad Farstad (Indian Pacific) Farstad Construction AS (Macae/Rio) Pte.Ltd (Singapore)…
  3. August 2015 Investor Presentation – Farstad Shipping Asa – slide 3
    Farstad Shipping ASA Listed since 1988 Largest shareholders (14 August 2015) No of shares % Tyrholm & Farstad AS 15 796 199 40,5 FLPS - PRINC ALL SEC 2 946 600 7,6 Pareto Aksje Norge 2 578 428 6,6 Folketrygdfondet 1 972 416 5,1…
  4. August 2015 Investor Presentation – Farstad Shipping Asa – slide 4
    Farstad Shipping ASA Brief summary No of vessels in operation: 62 (31 AHTS, 25 PSV, 6 Subsea) No of newbuilds: 1 (1 Subsea) No of employees offshore: 1.860 No of employees onshore: 240 Market value fleet*) (excl. newbuilds):…
  5. August 2015 Investor Presentation – Farstad Shipping Asa – slide 5
    Market values vessels*) Free of charter, available in the market, willing buyer/seller Mill. NOK Mill. NOK 650 650 625 625 2012: 600 600 Average decrease in values 575 575 550 550 of Farstad fleet: 1,0%. 525 525 500 500 2013:…
  6. August 2015 Investor Presentation – Farstad Shipping Asa – slide 6
    Farstad Shipping ASA Result 2nd Quarter 2015 (NOK mill.) Res 2Q-14 Res 2Q-15 All markets experience increasing pressure on rates Operating income 1 050,6 1 038,8 Changes in the Farstad-fleet Profit on sale of assets 0,0 0,0 OPEX Total…
  7. August 2015 Investor Presentation – Farstad Shipping Asa – slide 7
    Farstad Shipping ASA Result - quarterly development (NOK mill.) 2Q-14 3Q-14 4Q-14 1Q-15 2Q-15 Operating income excl. sale of vessels 1 050,6 1 211,9 1 111,7 1 067,7 1 038,8 Crewing expenses vessels 425,2 469,2 452,4 449,8 435,8…
  8. August 2015 Investor Presentation – Farstad Shipping Asa – slide 8
    Farstad Shipping ASA Operating income excl. sale of assets - quarterly development Slide 8 www.farstad.com
  9. August 2015 Investor Presentation – Farstad Shipping Asa – slide 9
    Farstad Shipping ASA EBITDA excl. sale of assets - quarterly development Slide 9 www.farstad.com
  10. August 2015 Investor Presentation – Farstad Shipping Asa – slide 10
    Farstad Shipping ASA EBIT excl. sale of assets - quarterly development Slide 10 www.farstad.com
  11. August 2015 Investor Presentation – Farstad Shipping Asa – slide 11
    Farstad Shipping ASA Result 30.06.15 (NOK mill.) Res. 30.06.14 Res. 30.6.15 Operating income 2 045,3 2 106,5 Profit on sale of fixed assets 15,0 (4,6) Total operating income 2 060,3 2 101,9 Crewing expenses vessels 826,8 885,7 Other…
  12. August 2015 Investor Presentation – Farstad Shipping Asa – slide 12
    Farstad Shipping ASA Comprehensive Income/Equity 30.06.15 STATEMENT OF 2nd quarter 2nd quarter 1.1-30.06 1.1-30.06 1.1-31.12 COMPREHENSIVE INCOME 2 015 2014 2015 2014 2014 Profit (119 548) 46 691 (423 771) 126 239 (8 341) Items not to…
  13. August 2015 Investor Presentation – Farstad Shipping Asa – slide 13
    Farstad Shipping ASA CASH FLOW 30.06.15 STATEMENT OF CASH FLOW 2nd quarter 2nd quarter 1.1-30.06 1.1-30.06 1.1-31.12 2015 2014 2015 2014 2014 Cash flow from operating activity 349 800 228 307 612 982 485 591 1 752 821 Sale of…
  14. August 2015 Investor Presentation – Farstad Shipping Asa – slide 14
    Farstad Shipping ASA Result 30.06.15 sorted by segment OPERATING INCOME *) 2nd quarter 2nd quarter 1.1-30.06 1.1-30.06 1.1-31.12 Operating income - sorted by segment 2015 2014 2015 2014 2014 Northwest Europe Brazil Indian Pacific Other…
  15. August 2015 Investor Presentation – Farstad Shipping Asa – slide 15
    Farstad Shipping ASA EBITDA margin sorted by segment EBITDA in % of income sorted by vessel type EBITDA in % of income sorted by region 60% 70% AHTS PSV SUBSEA Northwest Europe Brazil Indian Pacific 60% 50% 50% 40% 40% 30%…
  16. August 2015 Investor Presentation – Farstad Shipping Asa – slide 16
    Farstad Shipping ASA EBIT margin sorted by segment EBIT in % of income sorted by vessel type EBIT in % of income sorted by regoin 50% AHTS PSV SUBSEA Northwest Europe Brazil Indian Pacific 40% 40% 30% 20% 20% 10% 0% 0%…
  17. August 2015 Investor Presentation – Farstad Shipping Asa – slide 17
    Farstad Shipping ASA Balance Sheet 30.06.15 ASSETS 30.06.2015 30.06.2014 31.12.2014 EQUITY AND LIABILITIES 30.06.2015 30.06.2014 31.12.2014 Fixed assets: Equity: Goodwill 95 121 101 815 101 938 Paid-in capital 237 396 237 396 237 396…
  18. August 2015 Investor Presentation – Farstad Shipping Asa – slide 18
    Farstad Shipping ASA Long term debt 30.06.15 repayment profile 2 000 000 1 800 000 1 600 000 1 400 000 1 200 000 1 000 000 800 000 600 000 400 000 200 000 0 Installments Balloons Bonds Guarantee renewals Slide 18…
  19. August 2015 Investor Presentation – Farstad Shipping Asa – slide 19
    Farstad Shipping ASA Health, Safety, Environment and Quality LTIF - (No of injuries per mill. work hours ) 2,00 1,80 1,60 1,40 1,20 1,00 0,80 0,60 0,40 0,20 0,00 2009 2010 2011 2012 2013 2014 Slide 19 www.farstad.com
  20. August 2015 Investor Presentation – Farstad Shipping Asa – slide 20
    Farstad Shipping ASA Fleet distribution 62 vessels - August 2015 10 PSV LESUND 5 AHTS 1 +1 Subsea 1 AHTS 2 AHTS 1 Subsea 11 PSV SINGAPORE 14 AHTS 4 PSV MACCA 9 AHTS RIO DE JANEIRO 4 Subsea PERTH MELBOURNE…
  21. August 2015 Investor Presentation – Farstad Shipping Asa – slide 21
    Farstad Shipping ASA Contract summary(*) Fleet July 2015 Contract coverage excl. options 2015: 57% 2016: 36% Back log: Total: 6,8 mrd Slide 21 www.farstad.com
  22. August 2015 Investor Presentation – Farstad Shipping Asa – slide 22
    Farstad Shipping ASA Contract summary AHTS July 2015 Slide 22 www.farstad.com
  23. August 2015 Investor Presentation – Farstad Shipping Asa – slide 23
    Farstad Shipping ASA Contract summary PSV July 2015 Slide 23 www.farstad.com
  24. August 2015 Investor Presentation – Farstad Shipping Asa – slide 24
    PSV2.000 dwt AHTS10.000 bhp 1050 vessels + 284 newbuilds (27,1%) 511 vessels + 86 newbuilds (16,8%) DWT BHP Approx. 45% Approx. 3.300 vessels worldwide Source: IHS/Clarkson Platou/ Farstad July-15 Fleet Structure…
  25. August 2015 Investor Presentation – Farstad Shipping Asa – slide 25
    Newbuildings sorted by regions AHTS 10.000 BHP, PSV 2.000 DWT and Subsea AHTS = 86 vessels PSV = 284 vessels Subsea=80 No of vessels 250 26 200 150 160 100 50 3 14 44 13 3 28 7 24 8 13 11 16 1 2 1 2 6 9 8 5 5 3…
  26. August 2015 Investor Presentation – Farstad Shipping Asa – slide 26
    Newbuildings sorted by deliverytime AHTS 10.000 BHP, PSV 2.000 DWT and Subsea Subsea (80 vessels)…
  27. August 2015 Investor Presentation – Farstad Shipping Asa – slide 27
    Worldwide Fleet Growth AHTS 10.000 BHP No of vessels No of vessels Increase in fleet Total fleet incl. Newbuilds Increase in fleet Total fleet incl. Newbuilds 592 597 600 587 600 583 570 547 503 507 503 507 500 481 500 469 481…
  28. August 2015 Investor Presentation – Farstad Shipping Asa – slide 28
    Worldwide Fleet Growth PSV 2.000 DWT No of vessels Increase in fleet Total fleet No of vessels Increase in fleet Total fleet 1400 1341 1400 1325 1334 1331 1259 1211 1200 1200 1013 1013 1000 895 1000 895 755 755 800 692 800…
  29. August 2015 Investor Presentation – Farstad Shipping Asa – slide 29
    Worldwide sorted by owners/ managers AHTS 10.000 BHP and PSV 2.000 DWT No of vessels AHTS = 511 vessels PSV = 1050 vessels Newbuilds = 370 vessels 160 Total fleet incl. newbuild count 1931 140 vessels 223owners. 120 The 53 largest…
  30. August 2015 Investor Presentation – Farstad Shipping Asa – slide 30
    Worldwide growth*) AHTS 10.000 BHP and PSV 2.000 DWT No of vessels 1800 Other markets Northwest Europe Number of players 2004: 59 1600 Number of players 2015: 223 1400 Number of vessels 2004: 473+ 83 Number of vessels 2015:…
  31. August 2015 Investor Presentation – Farstad Shipping Asa – slide 31
    Worldwide sorted by regions AHTS 10.000 BHP No of vessels Jan.- 12 Jan.-13 Jan.-14 Jan.-15 July-15 200 185 185 180 176 165 158 160 140 120 116 104 104 98 100 95 77 80 69 67 70 67 65 64 64 59 60 56 51 49 46…
  32. August 2015 Investor Presentation – Farstad Shipping Asa – slide 32
    Worldwide sorted by regions PSV 2.000 DWT No of vessels Jan.-12 Jan.-13 Jan.-14 Jan.-15 July-15 300 249 245 244 250 236 226 225 202 200 194193 190 169 156 149 152152 150 143 138 128 120 114 115 97 100 90 88…
  33. August 2015 Investor Presentation – Farstad Shipping Asa – slide 33
    Northwest Europe sorted by owners/ managers AHTS 10.000 BHP and PSV 2.000 DWT No of vessels 30 No of PSV=244 No of AHTS=77 Number of players: 56 25 Number of vessels: 321 (20,7%) Number of newbuilds: 38 (10,3%) 20 15 26 10 17 12…
  34. August 2015 Investor Presentation – Farstad Shipping Asa – slide 34
    Brazil sorted by owners/ managers AHTS 10.000 BHP and PSV 2.000 DWT No of vessels 50 No of PSV=181 No of AHTS=89 Number of players: 42 45 Number of vessels: 270 (17,3%) 40 Number of newbuilds: 34 (9,2%) 35 30 36 25 20 2 15 4 4…
  35. August 2015 Investor Presentation – Farstad Shipping Asa – slide 35
    Indian Pacific/China sorted by owners/ managers AHTS 10.000 BHP and PSV 2.000 DWT No of vessels 30 Number of players: 73 No of PSV=156 No of AHTS=185 Number of vessels: 341 (21,8%) 25 Number of newbuilds 258 (69,7%) 20 11 10 8…
  36. August 2015 Investor Presentation – Farstad Shipping Asa – slide 36
    Australia/New Zealand sorted by owners/ managers AHTS 10.000 BHP and PSV 2.000 DWT No of vessels 25 No of PSV=28 No of AHTS=26 Number of players: 13 Number of vessels: 54 (3,5%) 20 Number of newbuilds 0 15 9 10 5 11 1…
  37. August 2015 Investor Presentation – Farstad Shipping Asa – slide 37
    North West Europe Supply- Demand- Utilisation Boat-years Boat- years 375 366 100% 91% 90% 91% 346 90% 350 350 95,0% 331 326 90% 325 314 81% 305 300 294 297 300 300 80% 277 275 85,0% 70% 250 250 225 60% 200 75,0% 200 50%…
  38. August 2015 Investor Presentation – Farstad Shipping Asa – slide 38
    North West Europe Fleet Utilization 100% 2015-april 2015-jan 2015-august 95% 90% 85% 80% 75% 70% Source: IHS/Farstad, July 2015 Slide 38 www.farstad.com
  39. August 2015 Investor Presentation – Farstad Shipping Asa – slide 39
    North West Europe Supply- Demand- Utilisation Source: Clarksons Platou August 2015 (week 34) Slide 39 www.farstad.com
  40. August 2015 Investor Presentation – Farstad Shipping Asa – slide 40
    Worldwide Subsea vessel supply/demand March 2015 Source: IHS March 2015 Slide 40 www.farstad.com
  41. August 2015 Investor Presentation – Farstad Shipping Asa – slide 41
    Takk for oppmerksomheten Slide 41 www.farstad.com

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