Introductory remarks and brief summary Improved results in all Areas except North America Improved utilization and market in Argentina Solid performance of Platform Drilling and Modular Rig Strong demand for Archer Oiltools products…
THIRD QUARTER 2013 FINANCIAL UPDATE Christoph Bausch, CFO
Third quarter 2013 key financials Revenue from continuing operations of 522.6 million EBITDA from continuing operations of 49.9 million One-time credit of 13 million Net loss for the quarter of 24.2 million Net interest-bearing debt…
EBITDA bridge Second quarter Third quarter 2013 In millions continued operations Startup costs in Q2 in LAM Shutdown Startup of platform costs in in Q2 in EMT NAM in Q3 Severance costs in One time LAM in Q2 favorable…
Evolution of consolidated revenue and EBITDA in millions excluding discontinued operations As reported Improving revenue trend with higher activity in all Areas Improved EBITDA as reported and excluding exceptionals Excluding…
Evolution of revenue and EBITDA for NAM & EMT in millions excluding exceptional items and discontinued operations NAM Higher revenue with additional fleet and better utilization in NAM EBITDA returns not satisfactory with low…
Evolution of revenue and EBITDA for LAM & NRS in millions excluding exceptional items and discontinued operations LAM Revenue in LAM flat with lower Brazil revenue offset by Argentina EBITDA margins improving as Argentina activity…
Net Interest Bearing Debt, Leverage Ratio and cash flow in millions unless indicated Debt reduced from 1.2 billion to 775 million in nine months Reduction as a result of private placement in the First Quarter and divestitures…
OPERATIONAL UPDATE & MARKET OUTLOOK David King, CEO
Operational update North America Startup for new Pressure Pumping customer in Permian Fracked 1,071 stages in Third Quarter 10% above the Second Quarter Improved utilization in Coiled Tubing and Snubbing and slightly higher…
Operational update EMT Revenue in Wireline Norway resumed following the platform shutdown in Q2 We were awarded several contracts in Wireline during the Third Quarter Wireline land activity in the US remained flat at a level…
Operational update Latin America Higher Drilling rig utilization in Argentina and Bolivia with 91.7% during the quarter Increased operation in Neuqun during the Third Quarter with rig 148 and rig 161 Achieved improved terms &…
Operational update North Sea Increased operations in the UK with P&A related activities and additional services Reduced revenue in Norway as a result of a temporary shutdown of the Ula platform Modular Rig revenue benefitted from…
North American market update Compared to the Second Quarter 2013 land rig count in the United States remained flat while number of wells drilled increased by 5% Industry achieved efficiency gains through process improvements Bakken…
Emerging Market & Technologies market update Decrease in gas related activity had a significant impact on our Wireline business in the US Land market Intense competition for experienced personnel increased cost base in particular in…
Latin America market update Increasing signals from Argentinean government to support local oil & gas production to replace expensive imports Production of both oil and natural gas is increasing Overall rig utilization in Argentina…
North Sea market update Increased number of mobile rigs drilling exploration/appraisal wells following significant discoveries in the last 2 years More wells are needed in existing fields to counter declining production Number of…
Restructuring plan Expect to book total charges of 12 15 million Severance, base and office closures, other costs Majority of the costs will be incurred in the Fourth Quarter 2013 and a smaller portion in the First Quarter 2014 Size…
Summary Improving results in all Areas except North America Improved balance sheet following strategic steps North American market will remain challenging Restructuring plan initiated Interesting growth opportunities in…
Thank you 22
Questions David King, CEO, Christoph Bausch, CFO 23
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