McDermott Today A leading provider of vertically integrated offshore and subsea engineering, procurement, construction and installation services Strategically located, in market fabrication yards and a dynamic marine…
Agenda Capturing Value Through Delivering Value Driving Financial Perspective Integrated Capabilities Through Execution Performance on the Future Financial Engineering QHSES Highlights 2016 Outlook Procurement Pipeline…
Capturing Value Through Integrated Capabilities
Engineering: Transforming our value Engineering as a Differentiator and an Enabler Positioned to Focus on Life of Field Services: PreFEED and FEED Services with oil and gas Post project completion services Expertise and…
Procurement: Cost Advantage Transformation Comprehensive plan established to achieve market cost advantage Supplier Partnerships: Develop joint market models with key suppliers to achieve global cost & Best in Class performance…
Construction: Driving to a global standard of efficiency Altamira Jebel Ali / Dammam Batam Global, inmarket fabrication facilities with inhouse full control of cost, quality and schedule Instituted fabrication council to drive…
Installation: Shallow to deep throughout the lifecycle Full solution of shallow water fleet capabilities Versatile subsea fleet, supported by inmarket teams Expertise in complex brownfield installation, hookup and commissioning…
Delivering Value Through Execution
QHSES: A Core Value with Industry Leading Performance for 6 Years Total Recordable Incident Rate (TRIR) Over a Decade 1.20 1.00 0.80 Incident Rate IMCA 0.60 0.40 IOGP 0.20 0.00 2005 2006 2007 2008 2009 2010…
People: Renewed focus on core capabilities Oversight Operations Domain Knowledge Established Refreshed Filled Functional Expertise Significant Subsea Experience Project replacement of Top Asset Management Past 2 Years 3 Layers…
Project Management: Establishing the McDermott Way as the industry benchmark for delivering complex, offshore and subsea capital projects Created a global project management function to ensure consistent execution and control…
Driving Financial Performance
Q2 2016 Financial Highlights in millions except for per share data Year Q2 2016 Order Intake resulting Sequential overYear from Pemex AbkatunA2, three Q216 Q116 Delta Q215 Delta large awards with Saudi Aramco Orders 1,235 339 896…
Q2 2016 Backlog and Rolloff in billions Details of 4.4BN Backlog as of June 30, 2016 Backlog by Business Line Backlog by Segment Backlog RollOff by Year 2.4 ASA Subsea 0.9 AEA 0.9 20% 0.6 20% 14% 1.1 Offshore 0.9 3.5…
Bids Outstanding and Target Projects1 in billions 16.7 billion as of Q2 2016 compared to 18.4 billion in Q1 2016 Business Line Oil/Gas Greenfield/Brownfield 13.4 10.8 11.4 9.6 8.9 8.8 8.4 8.3 7.6 7.8 5.0 5.3 Offshore…
Capital Structure Capitalization Debt Maturity Profile 6/30/16 in millions 6/30/16 3/31/16 500 Cash and Restricted Cash 583 798 (MM) Tangible Equity Units Notes 17 21 North Ocean 105 Loan 37 41 Term Loan B 219 295 Senior…
Cost Culture McDermott Profitability Initiative and Additional Overhead Reduction in millions Expected Cash Savings Workforce Reduction1 HC Revenue 14,000 195 3,070 MPI 2,700 12,900 12,650 AOR 115 2,301 2015 (A) 2016…
Perspective on the Future
2016 Outlook in millions, except per share amounts, or as indicated Q216 Guidance Revenues 2.7B Operating Income 126 Net Loss (8) Diluted Loss Per Share (0.03) Net Interest Expense1 60 Income Tax Expense 60 Adjusted Operating…
2016 Focus Areas Maintain Middle East market leader position Focus on NOCs and markets where capital is being invested Grow customer alignment and strength of relationships Drive further integration of process and…
Appendix
Additional Disclosures1 Reconciliation of US GAAP to NonGAAP Financial Measures Three Months Ended June 30, 2016 March 31, 2016 June 30, 2015 (In thousands, except share and per share amounts) GAAP Net Income (Loss) Attributable…
Additional Disclosures1 Reconciliation of US GAAP to NonGAAP Financial Measures Three Months Ended June 30, 2016 March 31, 2016 June 30, 2015 (In thousands) Net i ncome (l os s ) a ttri buta bl e to MDR 20,657 (2,172) 11,526…
Additional Disclosures1 Reconciliation of US GAAP to NonGAAP Financial Measures In thousands Three Months Ended June 30, 2016 Three Months Ended March 31, 2016 AEA MEA ASA AEA MEA ASA Revenues 86,810 317,834 301,983 62,625…
Additional Disclosures1 Reconciliation of Forecast US GAAP to NonGAAP Financial Measures Q2' 16 Guidance (In thousands, except per share amounts) GAAP Net Loss Attributable to MDR (8,300) Less: Adjustments 2 12,000 Res…
Katherine Murray INVESTOR Vice President, Treasurer and Investor Relations CONTACT 281.870.5147 KAMurraymcdermott.com The information contained herein is provided for general information purposes only and is not intended or to be…
Loading...
