FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements that involve risks, uncertainties and assumptions that could cause our results to differ materially from those expressed or implied by such…
PRESENTATION OUTLINE Executive Summary (pg. 4) Operational Highlights by Segment (pg. 9) Key Financial Metrics (pg. 17) 2020 Outlook (pg. 20) Non-GAAP Reconciliations (pg. 25) Questions and Answers 3
EXECUTIVE SUMMARY - HIGHLIGHTS Q3 2020 Net income1 of 25 million, 0.16 per diluted share Adjusted EBITDA2 of 53 million Operating cash flows of 53 million Free Cash Flow2 of 51 million, includes 2 million in capital spending Q3…
EXECUTIVE SUMMARY Q3 2020 OPERATIONS Well Intervention Utilization of 68% across the well intervention vessel fleet 92% in the GOM 31% in the North Sea and West Africa; Q7000 and Seawell warm-stacked 99% in Brazil 15K IRS…
EXECUTIVE SUMMARY BALANCE SHEET Q3 2020 Cash and cash equivalents of 259 million Liquidity1 of 404 million Long-term debt2 of 357 million Net debt3 of 98 million Debt Refinancing In August 2020, Helix issued 200 million of…
Operational Highlights by Segment 9
COVID-19 AND MARKET EVENTS The ongoing COVID-19 pandemic and its impact on the global economy have resulted in weaker oil prices and caused significant disruption and uncertainty in the oil and gas market The COVID-19 pandemic has…
BUSINESS SEGMENT RESULTS ( in millions, unaudited) Three Months Ended Nine Months Ended 9/30/20 9/30/19 6/30/20 9/30/20 9/30/19 Revenues Well Intervention 141 170 146 427 452 Robotics 50 52 51 136 136 Production Facilities 14 14…
WELL INTERVENTION GULF OF MEXICO Gulf of Mexico Q5000 100% utilized in Q3 for BP Q4000 85% utilized in Q3; completed a two-well production enhancement campaign for one customer; performed decommissioning work for another…
WELL INTERVENTION NORTH SEA AND WEST AFRICA North Sea and West Africa Well Enhancer 92% utilized in Q3; performed production enhancement and diving work for three customers and abandonment work for another customer Seawell…
WELL INTERVENTION BRAZIL Brazil Siem Helix 1 99% utilized in Q3; performed abandonment scopes on three wells Siem Helix 2 98% utilized in Q3; performed workover and production enhancement operations on two wells and…
ROBOTICS Grand Canyon II (Asia Pacific) 100% utilized in Q3 performing ROV support work on wind farm project offshore Taiwan Grand Canyon III (North Sea) 73% utilized in Q3 primarily performing renewables trenching operations for…
UTILIZATION 100% 97% 95% 95% 96% 80% 72% 68% 60% Q3 2020 Q2 2020 40% 44% Q3 2019 37% 34% 20% 0% Well Intervention Vessels Robotics Support Vessels ROVs, Trenchers and ROVDrill Q5000 Siem Helix 11 Grand Canyon1,3 44…
Key Financial Metrics 17
DEBT INSTRUMENT PROFILE Total funded debt1 of 415 million at 9/30/20 35 million Convertible Senior Notes due 2022 4.25%2 Principal Payment Schedule at 9/30/20 ( in millions) 30 million Convertible Senior Notes due 2023 4.125%2…
2020 OUTLOOK: FORECAST ( in millions) 2020 2019 Outlook Actual Revenues 710 - 735 752 Adjusted EBITDA1,2,3 135 - 145 180 Free Cash Flow1 50 - 85 31 4 Capital Additions 38 161 Revenue Split: Well Intervention 525 - 540 593…
2020 OUTLOOK Total backlog at September 30, 2020 was approximately 481 million (271 million for Well Intervention); backlog of 130 million expected to be realized during remainder of 2020 Well Intervention Outlook Q4000 (Gulf of…
2020 OUTLOOK Robotics Outlook Grand Canyon II (Asia Pacific) completed work in Taiwan mid-October; subsequently contracted for expected 30-day ROV support work in Japan; expected good utilization during remainder of Q4 Grand…
2020 OUTLOOK: CAPITAL ADDITIONS & BALANCE SHEET 2020 Capital additions are currently forecasted at approximately 38 million, consisting of the following: Growth Capex 5 million related primarily to completion of Q7000 and related…
Non-GAAP Reconciliations 25
NON-GAAP RECONCILIATIONS Twevle Months ( in thousands, unaudited) Three Months Ended Nine Months Ended Ended 9/30/20 9/30/19 6/30/20 9/30/20 9/30/19 12/31/19 Adjusted EBITDA: Net income 24,445 31,622 5,450 15,967 49,763 57,697…
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