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Q2 2015 Investor Presentation – Eidesvik Offshore Asa

Eidesvik Offshore Asa · Aug 20, 2015 · 18 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 Investor Presentation – Eidesvik Offshore Asa – slide 1
    Presentation 2nd Quarter 2015 Oslo 20.08.2015 CEO Jan Fredrik Meling
  2. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 2
    News in 2nd Quarter 2015 Entered into an agreement for installation of Energy Storage System (Battery solution) for Viking Queen Extended the fixed period of the contract with Lundin Norway AS from 900 to 1.200 days.
  3. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 3
    News in 2nd Quarter 2015 Awarded a 19 month contract for Chevron UK for the PSV Viking Princess with further options for 4x6 months.
  4. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 4
    2nd Quarter 2015 results (2nd Quarter 2014 in brackets) Revenues MNOK 308,5 (245,7) EBITDA MNOK 177,7 (124,0) Operating profit MNOK 113,6 (63,4) Pre-tax profit MNOK 145,0 (-0,2) Q2 Profits influenced by agio (MNOK 60,3).
  5. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 5
    Results 2nd Quarter 2015 (in million NOK, Gain on sale excluded) Operating revenue Q2 The results in 2nd Quarter compared to last year are influenced of: 400 -The subsea vessel Viking Neptun was delivered and commenced contract…
  6. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 6
    Results pr 30.06.2015 (in million NOK, Gain on sale and termination fee excluded) Operating revenue YTD The results YTD compared to last year are influenced 1 000 of: 500 -Viking Neptun delivered and commenced contract in 1st 456…
  7. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 7
    Cash Flow (in million NOK) 2nd Quarter 2nd Quarter 2015 2014 YTD 2015 YTD 2014 2014 Net cashflow from operating activities 161,4 94,5 230,2 179,6 537,5 Net cashflow from investment activities 21,3 7,1 (922,2) (20,9) (113,3) Net…
  8. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 8
    Balance (in million NOK) 7 000 6 000 Current assets Short-term liab. Current assets Short-term liab. 5 000 4 000 Long-term liabilities Long-term liabilities 3 000 Fixed assets Fixed assets 2 000 Equity 1 000 Equity 0 Assets…
  9. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 9
    1 000 Debt maturity profile 30.06.15 Millions 900 800 700 600 587 500 400 300 133 300 200 359 280 280 284 100 164 0 rest 2015 2016 2017 2018 2019 Instalments Balloons Bonds
  10. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 10
    Segments Incl. Share of Joint Ventures Excluded gain on sale (MNOK) 2nd Quarter 2015 Seismic Subsea Supply Other Revenue 76,6 183,6 91,6 5,3 EBITDA 74,3 122,5 31,5 -10,2 Revenue Q2 2015 EBIT 50,4 80,8 -0,3 -10,7 EBITDA margin 97% 67%…
  11. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 11
    Contract coverage (per 30.06.2015) 11
  12. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 12
    800 Contract Backlog 30.06.15 Millions 700 600 159 500 400 159 300 40 529 356 200 40 159 159 282 305 100 188 120 110 93 0 Q3 2015 Q4 2015 2016 2017 2018 2019 From 2020 Consolidated Share of JV's
  13. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 13
    Contract status seismic Viking Vanquish Viking Vision Veritas Viking Viking 2 Vantage Oceanic Vega Oceanic Sirius 2015 2016 2017 2018 2019
  14. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 14
    Contract status subsea Subsea Viking Acergy Viking Viking Poseidon European Supporter Seven Viking Viking Neptun 2015 2016 2017 2018 2019
  15. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 15
    Contract status supply Viking Queen Viking Lady Viking Athene Viking Energy Viking Avant Viking Nereus SPOT Viking Prince Viking Princess 2015 2016 2017 2018 2019
  16. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 16
    Cost reduction initiatives Cost reduction initiatives launched in H1 2015 reducing the annual costs from 2014 levels. Total estimated annual cost reductions: MNOK 55 1. Vessel operations: MNOK 39 Flag change Viking Nereus and Viking…
  17. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 17
    Market We still experience very challenging market conditions in all three segments. The activity is falling while the industry is still facing a significant new building program. We do not see sufficient initiative to remove capacity…
  18. Q2 2015 Investor Presentation – Eidesvik Offshore Asa – slide 18
    Thanks for Your attention

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