Executive Summary Built for success, positioned for growth 4 Q5000 under construction in Singapore
Executive Summary ( in millions, except per share data) Three Months Ended Nine Months Ended 9/30/2014 9/30/2013 6/30/2014 9/30/2014 9/30/2013 Revenues 341 220 306 900 650 Gross profit: 126 69 109 311 190 37% 32% 36% 35% 29%…
Executive Summary Q3 2014 earnings per diluted share of 0.71 per diluted share compared to 0.55 per diluted share in Q2 2014 Contracting Services and Production Facilities 97% utilization of Well Intervention vessels; strong outlook…
Executive Summary Balance sheet Liquidity* of 1.1 billion at 09/30/2014 Cash and cash equivalents totaled 547 million at 09/30/2014 Net debt of 7 million at 09/30/2014 See updated debt maturity profile on slide 14 We define…
Operational Highlights Built for success, positioned for growth 8
Business Segment Results ( in millions) 97% utilization for the Well Intervention fleet Three Months Ended 90% chartered vessel utilization in 9/30/2014 9/30/2013 6/30/2014 Robotics Revenues Robotics utilized 3 spot vessels for a…
Well Intervention GOM Q4000 was 89% utilized during Q3; vessel down for 10 days for thruster repairs Helix 534 fully utilized during Q3 Both vessels are expecting strong utilization in Q4 of 2014 IRS no. 2 on hire for the entire…
Robotics 90% chartered vessel fleet utilization in Q3 197 days utilized on spot vessels (100% utilization) Olympic Triton returned to vessel owner in September 78% utilization for ROVs, trenchers and ROVDrill T1500 jet trencher…
Utilization 100% 97% 98% 98% 90% 89% 84% 80% 78% 78% 68% 60% Q3 2014 Q2 2014 40% Q3 2013 20% 0% Well Intervention Vessels ROV and Trencher Support Vessels ROVs and Trenchers Seawell Olympic Canyon (1) 56 ROVs…
Key Balance Sheet Metrics Built for success, positioned for growth 13
Debt Instrument Profile Total funded debt of 576 million at end of Q3 2014: Debt Instrument Profile at 09/30/2014 ( amounts in millions) 200 million Convertible Senior Notes 3.25% (A) (178 million net of unamortized debt discount)…
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) 1,110 805 EBITDA 390 300 CAPEX 385 343 Earnings Per Share (A) 1.85 1.95 1.04 Revenue Split: Well Intervention 670…
2014 Outlook Total backlog as of September 30, 2014 was approximately 2.4 billion, of which approximately 2.3 billion is associated with our Well Intervention and Robotics businesses Utilization expected to remain strong for the well…
2014 Outlook Rem Installer currently transiting to the Gulf of Mexico to provide a presence for a dedicated ROV support vessel for ROV services in the region Deep Cygnus completing jet trenching scopes with T1500 in the North Sea,…
Looking Forward Gulf of Mexico well intervention fleet activity is expected to remain strong in 2015 and beyond Both vessels, Q4000 and H534, have regulatory dry docks in 2015, which provide headwinds in 2015 North Sea based well…
2014 Outlook Capex Total capital expenditures forecasted at approximately 385 million for 2014; 242 million incurred year-to-date(A) 68 million incurred in Q3, including: Approximately 40 million for well intervention newbuilds…
Non-GAAP Reconciliations Built for success, positioned for growth 22
Non-GAAP Reconciliations ( in millions) Three Months Ended Nine Months Ended 9/30/2014 9/30/2013 6/30/2014 9/30/2014 9/30/2013 Net income from continuing operations 76 45 58 188 75 Adjustments: Income tax provision 30 7 17 68 16…
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