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Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc.

Gulfmark Offshore, Inc. · May 1, 2014 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 1
    Q2 Investor Update May 2014 1 GulfMark GulfMark A Offshore, Offshore, Inc. Inc. company NYSE:GLF GULFMARK.COM
  2. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 2
    Long Term Revenue & EBITDA 700 100% Utilization 90% 600 80% In Millions of U.S. Dollars Company 500 Guidance 70% 60% 400 50% 300 40% 200 30% 20% 100 10% 0 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008…
  3. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 3
    THE GULFMARK FLEET 44
  4. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 4
    Global Vessel Diversification 5
  5. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 5
    Young & Versatile Fleet Vessel Vintage by Year 14 13 12 11 10 Number of Vessels 9 Current 8 New Build Program 7 6 5 4 3 2 1 0 Vessels in Current Fleet Recent Market Purchases Vessel Disposals Vessels Under…
  6. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 6
    A Changing Environment Significant number of new generation rigs allows for increased activity in: Deepwater Remote drilling locations Harsh environment Industry and regulatory call for higher specification vessels for: Complex…
  7. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 7
    The New Breed Of PSV GULFMARKS ARCTIC CLASS 8
  8. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 8
    New Construction Delivery Schedule 300 Class Europe 887 DEFENDER DELIVERED - July 10, 2013 300 Class Arctic Europe Arctic POMOR DELIVERED - July 26, 2013 280 Class Europe 879 CHIEFTAIN DELIVERED - September 14, 2013 300 Class…
  9. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 9
    Vessel Enhancement Program Phase I: 190 Class to 230 Class Six Vessels Completed 2011-13 Avg. Cost per vessel 2.4 million Avg. Incremental days out of 77 service Estimated payback period 13 months Return on capital 93% Phase II: 210…
  10. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 10
    Phase II Vessel Enhancement Schedule Eight 210 Class PSVs lengthened to 260 Class DEFENDER POMOR St. Louis ST. LOUIS CHIEFTAIN COMPLETED September 30, 2013 DEFENDER Toulouse GUARDIAN TOULOUSE COMPLETED November 9, 2013…
  11. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 11
    Secondary Market Vessel Purchases Active in secondary market Average one vessel purchase per year for last three years Two in 2012: One 2010-built DP2 PSV for US GoM One 2006-built DP2 PSV for UK North Sea One in 2014: 2012-built…
  12. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 12
    DEMAND DRIVERS 13 13
  13. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 13
    Rig Count Growth North Sea FLOATING RIGS Active 43 Scheduled Arrivals/Activations 9 (through 2015) % Increase 21% JACKUPS Active 37 Scheduled Arrivals 8 (through 2015) % Increase 22% Source: IHS Petrodata as of…
  14. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 14
    Floating Rig Count Growth U.S. GoM FLOATING RIGS IN U.S. GOM Contracted 45 Scheduled Net Additions 13 (through Q4 2015) % Increase 29% Source: IHS Petrodata as of 5/1/14 15
  15. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 15
    Vessel To Rig Ratio U.S. Gulf of Mexico 10.0 10.0 Historic Forecast 9.0 9.0 8.3 8.1 8.0 8.0 7.0 6.5 7.0 6.0 6.0 5.3 5.2 5.0 4.7 4.8 5.0 4.5 4.5 4.5 4.6 4.6 4.4 5.0 4.4 4.3 4.4 4.4 4.4 4.0 4.0 3.0 3.0 2.0 2.0 1.0…
  16. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 16
    FINANCIAL INFORMATION 17 17
  17. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 17
    GulfMark Revenue by Region
  18. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 18
    Day Rate in Backlog Remains Strong 1,000,000 25,000 900,000 Day Rate in Backlog Dollars in Backlog, in thousands of U.S. Dollars 800,000 20,000 700,000 Day Rate in Backlog 600,000 15,000 500,000 400,000…
  19. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 19
    Net Debt Position Net-Debt to Total Book Capitalization 600,000 35% Target Range 30% 500,000 25% Debt Net- 400,000 Net-Debt 20% 300,000 15% 200,000 10% 100,000 5% 0 0% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2…
  20. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 20
    2014 - 2015 Non-Operating Uses of Cash Use 2014E 2015E (in millions of U.S. dollars) New Build Program 98 60 Acquisitions & Enhancements 67 10 Sub-Total 165 70 Dividends 26 26 Total Cash Uses 191 96 21
  21. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 21
    GulfMark Leads The Way 22
  22. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 22
    Globally, We Are GulfMark 23
  23. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 23
    Continued Growth 24
  24. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 24
    Reconciliation Of Adjusted EBITDA 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 TTM Net (loss) income (4.6) 38.4 89.7 99.0 183.8 50.6 (34.7) 49.9 19.3 70.6 84.3 Interest expense, net 17.0 18.4 14.4 4.8 12.8 19.9 20.7 21.6 22.9…
  25. Q2 INVESTOR UPDATE – Gulfmark Offshore, Inc. – slide 25
    The Difference Is Our People A26GulfMark Offshore, Inc. company NYSE:GLF GULFMARK.COM

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