Contents Highlights and material events Segment reporting Financial information Summary Page 2
Group Financial performance Q2 2014 highlights: Operating revenue of USD 272 million EBITDA of USD 91 million EBITDA-margin of 33% Net profit of USD 29 million Page 3
Highlights and material events Q2 2014 Deepsea Atlantic completed its 5 year class survey within time and budget. Deepsea Stavanger secured contract extension for BP in Angola. Odfjell Drilling became the major shareholder in…
Highlights and material events (cont.) Subsequent events Statoil did not call the 2 years priced option for Deepsea Atlantic. The existing contract ends in August 2015. Delivery of Deepsea Aberdeen scheduled for yard delivery in…
Segment reporting - Mobile Offshore Drilling Units (MODU) MODU Highlights MODU Firm MODU contract backlog of USD 2.1 billion at 30 June 2014 Financial utilisation: Financial Utilisation1 Q2 14 Q2 13 YTD 14 YTD 13 FY 13 FY 12…
MODU - Dayrates, contract status and options Location Current day rate Drilling unit Contract status /operator (USD/day)1 Deepsea Angola 420,000 / Stavanger BP Angola 540,000 Deepsea NCS 560,839 / Atlantic Statoil 575.839…
Segment reporting - Platform Drilling and Technology Platform Drilling and Technology Highlights Drilling & Technology Firm contract backlog of USD 0.7 billion at 30 June 2014 Value of priced optional periods of USD 1.5 billion…
Platform Drilling contracts Customer Platforms Contract status 7 NO platforms1 Mariner Bressey Brage 6 UK platforms2 Harding 5 UK platforms3 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022…
Segment reporting - Well Services A leader in remote operated drilling technologies Casing and tubular Well Services running services Highlights Drill tool rental Specialised equipment and Large and modern inventory of trained…
Market outlook Satisfactory fundamental long-term demand for the Groups services but near term softening materialised MODU Softening DW and UDW market evidenced by shorter lead times and decreased number of contract awards Expect…
Earnings visibility through USD 2.8 billion firm order backlog Total revenue backlog per year (for firm contracts and priced option periods)1 USD million Firm contracts USD 2.8 billion Priced options USD 1.6 billion Total backlog…
Financial information
Financial performance highlights Group Operating Revenues (USD million) Group EBITDA (USD million) Odfjell Drilling reports for Q2 2014: Operating Revenues of USD 272 million EBITDA of USD 91 million EBITDA-margin of 33%…
Group summary financials Condensed consolidated income statement P&L - (USD million) Q2 14 Q2 13 YTD 14 Y TD 13 FY 13 Operating revenue 272 289 545 585 1 174 Other gains/losses 9 21 11 21 22 Share of profit/(loss) from joint ventures 4…
Segment reporting - MODU financials MODU Key Financials (USD million) Condensed P&L - (USD million) Q2 14 Q2 13 Y TD 14 Y TD 13 FY 13 Operating revenue 184 184 364 370 762 EBITDA 83 81 156 161 338 Depreciation and impairments -38 -33…
Deep Sea Metro financials Deep Sea Metro Ltd Group - Key financials (100% basis) Condensed figures - (USD million) Q2 14 Q2 13 YTD 14 YTD 13 FY 13 Total income 95 84 175 166 359 Operating expenses -67 -63 -127 -122 -243 Financial items…
Summary statement of financial position Group statement of financial position Assets (USDm) 30 Jun 2014 30 Jun 2013 31 Dec 2013 Equity and liabilities (USDm) 30 Jun 2014 30 Jun 2013 31 Dec 2013 Intangible assets 26 27 27 Total paid-in…
Summary statement of cash flow Group statement of cash flow Cash Flow - (USDm) Q2 14 Q2 13 YTD 14 YTD 13 FY 13 Profit before income tax 33 62 60 90 171 Cash from operations 85 79 173 161 339 Interest paid -12 -15 -25 -28 -56 Income tax…
New credit facility New USD 450 million senior secured facility In May 2014, Odfjell Drilling Services Ltd., a subsidiary of Odfjell Drilling Ltd., entered into a USD 450 million senior secured credit facility agreement. The facility…
Summary Earnings visibility through USD 2.8 billion of firm order backlog Softer near term market outlook for the MODU segment Reduced near term demand for engineering services Demand for well services reduced in Q2 2014 but…
President & CEO Simen Lieungh EVP & CFO Atle Sb Investor relations Lasse H. Johannesen, lajodfjelldrilling.com, +47 55 92 11 01 / +47 995 06 908 Press contact Gisle Johanson, gijoodfjelldrilling.com, +47 414 40 050 Next event:…
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