Executive Summary Built for success, positioned for growth 4
Executive Summary ( in millions, except per share data) Quarter Ended 3/31/2014 3/31/2013 12/31/2013 Revenues 254 197 227 Gross profit 76 53 71 30% 27% 31% Net income from continuing operations 54 1 37 Net income from…
Executive Summary Q1 2014 earnings of 0.51 per diluted share compared to 0.35 per diluted share in Q4 2013 Q1 includes a 10.5 million gain on the sale of our former spoolbase facilities, and a 7.2 million insurance reimbursement…
Executive Summary Balance sheet Cash and cash equivalents totaled 470 million at 03/31/2014 Liquidity* of 1.1 billion at 03/31/2014 Net debt of 91 million at 03/31/2014 See updated debt maturity profile on slide 14 We define…
Operational Highlights Built for success, positioned for growth 8
Business Segment Results ( in millions) 91% utilization for the Well Intervention fleet Quarter Ended Skandi Constructor completed West 3/31/2014 3/31/2013 12/31/2013 Africa well intervention campaign Revenues 80% chartered vessel…
Well Intervention GOM Q4000 100% utilized during Q1 IRS no. 2 on hire for 42 days during the quarter (12 days at standby rate) Helix 534 fully utilized during Q1 after being placed in service mid-February 2014 (17 days at repair…
Robotics 80% chartered vessel fleet utilization in Q1 Includes 4 additional spot vessels utilized for a total of 62 days during the quarter 73% utilization for ROVs, trenchers and ROVDrill Deep Cygnus idle for 40 days during the…
Utilization 100% 100% 94% 91% 88% 80% 80% 73% 69% 69% 60% 55% Q1 2014 Q4 2013 40% Q1 2013 20% 0% Well Intervention Vessels ROV and Trencher Support Vessels ROVs and Trenchers Seawell Olympic Canyon (1) 52…
Key Balance Sheet Metrics Built for success, positioned for growth 13
Debt Instrument Profile Total funded debt of 586 million at end of Q1 Debt Instrument Profile at 03/31/2014 2014: ( amounts in millions) 200 million Convertible Senior Notes 3.25% (A) 500 (175 million net of unamortized debt…
2014 Outlook Built for success, positioned for growth 16
2014 Outlook ( in millions, except per share data) 2014 2013 Outlook Actual Revenues (on-going operations) 1,040 805 EBITDA 350 300 CAPEX 400 343 Earnings Per Share (A) 1.60 1.70 1.04 Revenue Split: Well Intervention 620 452…
2014 Outlook Total backlog as of March 31, 2014 was approximately 2.9 billion, of which approximately 2.7 billion associated with our Contracting Services businesses Utilization expected to remain strong for the well intervention…
2014 Outlook Robust 2014 trenching market in the North Sea, Norwegian Continental Shelf and Middle East Newbuild 1,500hp jet trencher (T1500) expected to enter fleet in mid Q2 2014 with healthy backlog Walk-to-work accommodations…
2014 Outlook Capex Total capital expenditures budgeted at approximately 400 million for 2014; 70 million (including capitalized interest) incurred in Q1, including: Approximately 20 million to acquire the minority interest in the…
Non-GAAP Reconciliations Built for success, positioned for growth 21
Non-GAAP Reconciliations ( in millions) Quarter Ended 3/31/2014 3/31/2013 12/31/2013 Net income from continuing operations 54 1 37 Adjustments: Income tax provision 21 1 16 Net interest expense and other 5 17 3 Depreciation and…
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