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Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc.

Gulfmark Offshore, Inc. · Sep 9, 2015 · 16 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. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 1
    Barclays CEO Energy Power Conference September 2015 1 GulfMark GulfMark A Offshore, Inc. Offshore, Inc. company NYSE:GLF GULFMARK.COM
  2. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 2
    Proactively Responding to a Challenging Environment Reducing Direct Operating Expenses Estimated annual savings of 59mm vs. 2014 or 25% reduction Lowering G&A Expenses Estimated annual savings of 12mm vs. 2014 or 20% reduction…
  3. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 3
    Successfully Reducing Costs Annual Forecasted Opex Reductions Category 2014 2015E Savings** % Reduce labor costs by 42 million through (USD in Millions) head count and wage reductions Direct Operating Expenses 236 177 59 25% Reduce…
  4. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 4
    Limited Deliveries Remain for Fleet Improvements and Additions Three new build PSVs for delivery Two 210 Class PSVs recently lengthened to 260 Class 300 Class US 887 HERCULES Q4 2015 300 Class US 887 PEGASUS Q2 2016 300…
  5. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 5
    Vessel Dispositions Demonstrate Long-Term Value Sales Price as a Vessel Year of Year Age at Sales Original Percentage of Name Sale Built Disposal Price Cost Original Cost Highland Trader 2015 1996 19 7,500,000 16,019,458 47% North…
  6. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 6
    Capital Requirements & Cash Generation Use 2015E 2016E (USD in Millions) New Build Program 37 49 Acquisitions & Enhancements 5 Sub-Total 42 49 Dividends Total Committed Non- 42 49 Operating Cash Uses Q1 2015 Cash provided…
  7. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 7
    Net-Debt Position (USD in Millions) 600,000 40% 35% 500,000 Net-Debt to Total Book Capitalization Target Range 30% 400,000 25% Net-Debt Net Debt 300,000 20% 15% 200,000 10% 100,000 5% 0 0% Q4 Q1…
  8. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 8
    GulfMarks Strategy and Direction Concentrate on franchise positions and customer base Adjust to fluid market conditions Over 20 years of safe, reliable operations help differentiate GulfMark Highly-skilled mariners and cutting-edge…
  9. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 9
    Global Vessel Solutions 10 As of August 2015
  10. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 10
    Financial Appendix 11 11
  11. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 11
    Long-Term Revenue, EBITDA & Utilization (USD in Millions) 700 100% Utilization 90% 600 80% 500 70% 60% Utilization 400 50% 300 40% 30% 200 20% 100 10% 0 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009…
  12. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 12
    Maintaining Balance Sheet Flexibility Balance Sheet Item Q2 2015 Q1 2015 Q4 2014 Cash & Cash Equivalents 79 60 51 Revolving Credit Facilities 72 60 44 Senior Notes 501 501 501 Total Debt 573 561 545 Shareholders Equity 949 923…
  13. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 13
    Contract Cover Comparison As of July 22, 2015 As of July 21, 2014 2015 2016 2014 2015 Vessel Days Vessel Days Vessel Days Vessel Days North Sea 65% 38% 67% 31% Southeast Asia 38% 15% 22% 3% Americas 22% 7% 56% 20% Overall Fleet…
  14. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 14
    Young & Versatile Fleet 16 Vessel Vintage by Year 15 14 13 12 11 10 Number of Vessels 9 Current 8 New Build Program 7 6 5 4 3 2 1 0 Vessels in Current Fleet Secondary Market Purchases Vessel…
  15. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 15
    Reconciliation Of Adjusted EBITDA 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 TTM Net (loss) income 38.4 89.7 99.0 183.8 50.6 (34.7) 49.9 19.3 70.6 62.4 18.2 Interest expense, net 18.4 14.4 4.8 12.8 19.9 20.7 21.6 22.9 23.6 29.0…
  16. Barclays CEO Energy Power Conference – Gulfmark Offshore, Inc. – slide 16
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