Recent highlights Contract extension for Safe Boreas and contract win for Safe Caledonia in Q3 2018, and contract win for Safe Zephyrus in early Q4 2018 Order backlog picking up Utilisation of 48.1% (38.9%) EBITDA before…
Agenda Financial results Business & Operations Outlook Strategy & Summary 4
Income statement (Unaudited figures in USD million) Q3 18 Q3 17 Higher revenues due to higher utilisation at 48.1% (Q3 2017: 38.9%) and IFRS 15 adjustment (USD 5.2 million) Operating revenues 74 69 partially offset by lower average day…
Balance sheet (Unaudited figures in USD million) 30.09.18 30.09.17 31.12.17 Vessels 1,451 1,555 1,527 Total assets of USD 1.9 billion New builds 126 125 125 Positive working capital in the quarter Other non-current assets 16 11 11 Total…
Agenda Financial results Business & Operations Outlook Strategy & Summary 7
Prosafe anno 2018 Transformed and repositioned o Add three versatile units with global reach 1 Modernized the fleet o 50% of the fleet will be less than 4 years old o Limited debt service and interest expenses in the years to come…
Update on Westcon dispute Ruling on 8 March: The Court issued its judgement in favour of Prosafe, and decided that Westcon must pay Prosafe NOK 344 million plus interest and NOK 10.6 million legal costs Westcon has filed an appeal.…
Fleet status: Contracts, wins and extensions Contract backlog Contracting update Fixtures autumn 2018 o Safe Boreas 8 months extension plus 6 months of options with Equinor at Mariner, UKCS o Safe Caledonia 4 months firm award…
Agenda Financial results Business & Operations Outlook Strategy & Summary 11
Oil companies long-term Brent oil price forecasts average at 76 USD/bbl* Company Communicated long-term Brent oil price outlook* (USD/bbl) Comment Long-term price assumption for 2023 onwards, used in BPs 2017 91 annual report Total…
Offshore capex to near double in 2018, before reaching 190 billion average 2019-23 Offshore greenfield capex in approval year*, by sensitivity to oil price USD billion (real) 250 Historical sanctions Sanctioned…
20+ lifetime extensions on NCS facilities could impact the majority of Equinors hubs Facility lifetime extensions on Equinor fields Equinor hubs on the NCS 1975 1985 1995 2005 2015 2025 2035 2045 STATFJORD A STATFJORD B Equinor…
International markets to offer growth opportunities Brazil Brazil demand and supply near balance (vessel yrs) Prosafe units that meet the current and anticipated future technical specifications for Petrobras 12 requirements operating…
Improved order backlog - Tide turning into 2020 Prosafes firm backlog has increased to Order Backlog (USD million) USD 232 million per end Q3 2018 1200 Awarded 39% and 72%, respectively, 1000 of global and North Sea contracts,…
Prospects & tendering 3 year lookout Global opportunities Tendering activity 3 year profile 8 tenders ongoing for 2018 through 2020 6 tenders with commencement dates in 2019 18 North Sea prospects with high probability of going to…
Agenda Financial results Business & Operations Outlook Strategy & Summary 18
Summary Good financial performance Contract wins and extensions Order backlog picking up Commenced the selling of Safe Astoria for scrap (sixth vessel scrapped since 2016) Transforming agreement reached with Cosco for the Safe…
Appendix 20
Operating revenue (USD million) Q3 18 Q2 18 Q3 17 9M 18 9M 17 2017 Charter income 54.5 79.0 62.9 201.3 185.5 256.1 Other income (incl amortization of fees) 19.1 21.3 6.0 55.4 20.8 26.9 Total 73.6 100.3 68.9 256.7 206.3 283.0…
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