Overview of GMS Operator of a fleet of self-propelled Self-Elevating Support Vessels (SESVs) SESVs provide a stable platform from which clients perform a wide range of activities throughout the lifecycle of the offshore oil, gas…
A Reminder of our Strategic Focus Fleet Expansion Continued strong demand for GMS SESVs Complete the 2014 2016 new build programme Intention to continue to grow the fleet over time Operational Expertise Reputation as a quality…
2015 Interim Results Highlights Solid first half for 2015 Revenue increased by 8% to US 98.2 million Our major fleet expansion programme is now (11% increase on a constant currency* basis) more than half completed, and continues to…
Financial Review John Brown CFO
Trading Summary H1 H1 % (USm) 2015 2014 Change Revenue increased by 8% mainly due to an increase in SESV fleet size, with constant currency* revenue growth of Revenue 98.2 90.7 8% 11% Revenue from SESVs 95.5 84.0 14% Revenue…
Revenue Analysis Revenue by Region Revenue by Activity Revenue by type of Income H1 2015 H1 2015 H1 2015 5% 7% 2% 25% 11% US98.2m US98.2m 75% US98.2m 91% H1 2014 H1 2014 84% 6% 1% H1 2014 36% 10% 6% US90.7m…
Primary SESV Performance Indicators Small Class Large Class Total SESVs H1 2015 H1 2014 H1 2015 H1 2014 H1 2015 H1 2014 Utilisation 97% 100% 100% 75% 98% 94% Average charter day rate excluding hotel 40 38 85 103 services (US000)…
Funding Summary (USm) At 30 June 2015 At 31 December 2014 Cash at Bank 51.1 59.5 Bank Debt 328.4 249.2 Obligations under finance leases 97.0 83.9 Net Debt 374.3 273.6 US 116.7 million costs capitalised Working capital…
Fleet Expansion Capex Completing the 2014 to 2016 Capex plan communicated at IPO will increase the fleet by 66% to 15 SESVs (USm) 2015 2016 Total Large Class construction 48.0 41.0 89.0 Mid-Size Class construction 80.0 6.0…
Operating Review Duncan Anderson CEO
Operational Highlights Demand for the Groups Continued high SESV fleet New build programme is SESVs continues to be strong utilisation of 98% progressing on time and to budget 1 new contract win for an Reflects the Groups focus…
Healthy Order Book of Contracts Clear Revenue Visibility SESVs contract duration as at 1 August 2015 Most contracts comprise of a Recurring client demand firm period with clients option presents retendering to extend for a…
A Favourable Position for Continued Growth Healthy Backlog Provides good revenue visibility Focus on Brownfield More than 90% of backlog is on Opex-based contracts Opex-led Activities Our vessels can reduce our clients…
Outlook - Delivering on our Strategy The Group is well-placed to continue progress with robust The new build programme, which commenced in 2014, will operating cash flows and clear revenue visibility from a healthy expand the SESV…
Thank you Any questions
Appendices Clients Fleet Overview High specification premium fleet Fleet Overview Three classes of vessels serve a range of client needs Large Class SESV Overview Mid-Size Class SESV Overview Small Class SESV Overview…
Clients - A well-diversified blue chip client base Oil and Gas Renewable Energy 21
Fleet Overview Three classes of vessels serve a range of client needs Large Class Mid-Size Class Small Class GMS SHAMAL and GMS SCIROCCO GMS SHAMAL and GMS SCIROCCO 3 units + 1 to be constructed 1 unit + 2 to be constructed 8…
Large Class SESV Overview The flagship of the GMS fleet Gusto MSC Main crane 2500X design 300 tonnes & 400 tonnes Heavy oil & gas lifting Wind turbine installation Offering higher technical and operational capabilities Up to 80m…
Mid-Size Class SESV Overview New generation addition to the GMS fleet Gusto MSC NG1800-X Main crane Design 150 tonne main 15 tonne auxiliary Proven technology with Accommodation high reliability and Accommodates 150 flexibility…
Small Class SESV Overview The backbone of the GMS fleet Wrtsil design Main crane 36-45 tonnes Oil & gas lifting Proven technology with high reliability and 45m water depth capability flexibility 68m leg length Able to work in…
Significant Barriers to Entry Successfully operating SESVs in GMS markets has a number of challenges for new entrants and incumbents: GMS SHAMAL and Operational TrackGMS SCIROCCO Record GMS Safety SHAMAL Case andfor Required…
Fluid and Flexible New Build Programme 6 months 12 months Procurement of Hull Vessel Assembly Commissioning Construction Components Components are produced Hulls and steel structures are The project management and The…
In-House Construction Facility GMS SHAMAL and GMS SCIROCCO Competitive Advantage Full in-house project management and technical supervision capabilities Direct control of new build construction, with cheaper build we are better…
Historic Results Operational and financial performance - a successful track record Revenues Adjusted EBITDA (1) and Margin 124.8 250 140 124.7 m 196.6 m 100% 184.3 120 94.6 200 142.6 100 EBITDA Margin (%) 69.5 80% 150…
Estimated Total Market Demand SESVs are well-placed to win market share from alternative providers Significant expansion opportunity Cost Advantage of SESVs over other types of vessel of up to 1.4m / move SESVs perform…
Board Composition Simon Heale (Chairman) Richard Anderson Independent Non-Executive Chairman Independent Non-Executive Director Non-Executive Chairman at Kaz Minerals plc Non Executive Director of Soma Oil & Gas Multiple previous…
Contact T: +971 (2) 502 8888 E: IRgmsuae.com W: www.gmsuae.com John Brown - Chief Financial Officer Anne Toomey - Investor Relations Manager
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