Q3 2014 Presentation 20th November 2014 Knots Ahead of the Rest
Disclaimer 2
Q3 2014 Financials Knots Ahead of the Rest
Key takeaways Q3 Net Profit increased 9.9% from RM98.4 mil to RM108.1 mil. YTD Net Profit shed 20.9% from RM342.9 mil to RM271.3 mil Q3 EBITDA increased 1.9% from RM262.6 mil to RM267.5 mil. YTD EBITDA shed 2.5% from RM772.4 mil to…
Results Overview YTD 2014 vs. YTD 2013 (in RMmil) Revenue +11.8% 1,695.5 Net Profit 1,516.3 EBITDA 342.9 -20.9% -2.5% 772.4 753.3 271.3 YTD 2013 YTD 2014 YTD 2013 YTD 2014 YTD 2013 YTD 2014 Lower EBITDA after accounting…
Revenue composition by business units Q3 2014 vs. Q2 2014 (in RMmil) Performance in established segments driven by the underlying activities FPSO OSV 231.4 +2.2% 236.5 +6.6% 163.1 153.0 Q2 2014 Q3 2014 Q2 2014 Q3 2014 Higher…
Revenue composition by business units YTD 2014 vs. YTD 2013 (in RMmil) Performance in established segments driven by the underlying activities FPSO OSV +14.2% 663.6 581.0 466.1 +1.3% 472.3 YTD 2013 YTD 2014 YTD 2013 YTD 2014…
Revenue composition by geographical % Malaysia based international company continued expansion across key regions YTD 2014 YTD 2013 2% 5% 13% 4% 13% 30% 25% 52% 56%
Leverage and capitalisation Financial capacity intact to undertake more projects with rights issue completed Net Debt / EBITDA(1) Gearing ratio(2) 4.5x 4.0x 4.0x 3.9x 5.1x 4.9x 4.8x 3.5x 3.4x 4.3x 4.4x 4.0x 3.0x 3.2x…
Order book as at 30 September 2014 Quality firm backlog remains intact at RM21.8 bn (Q2: RM21.7 bn) As at 30 September 2014, the Groups order book stood at RM21.8 bn compared to RM21.7 bn as at 30 June 2014. Upon expiration of the firm…
Leading Indicators Knots Ahead of the Rest
Oil prices expected to firm going forward Bank Research Source; Bloomberg, Bank and Company Reports 13
Shale Oil: Lots of projects at the current level Source: Goldman Sachs Research 14
OPEC: Weak oil prices hurts members too Source: Goldman Sachs Research 15
FPSO activity expected to remain strong Source: Goldman Sachs Research 16
Tankers Days of vessel bargains are numbered. Tanker market is beginning to show signs of recovery. Sector has already seen a short rebound in rates for Aframax vessels in Q1 2014. VLCC touted to be next as supply and fleet…
Steel Prices 1 year historical price Source: Bloomberg 18
Market Overview Knots Ahead of the Rest
Malaysian O&G Index & Crude Oil Price Malaysia O&G Stocks Have Been Historically Correlated With Oil Price, But Not Exclusively So Malaysia Oil & Gas Crude Oil Price (US/bbl) World GDP YoY Growth (%) Event Oil Prices O&G Companies…
Operational Overview Knots Ahead of the Rest
Operational Highlights FPSO Armada Sterling II undergoing hook-up to the Cluster-7 field off the coast of Mumbai. Conversion work well underway for Armada Kraken and Armada 15/06 with no major delay in the schedule. Armada Claire…
Operational Highlights OSV Current fleet rationalisation efforts have begun to show results. Secured new charters in West Africa and Latin America. Increased overall OSV utilisation to 74%; up 2% from preceding quarter. Reduced the…
Operational Highlights T&I Armada Hawk performing the installation of Armada Sterling II at the Cluster-7 field. Armada KP1, shallow water pipelay barge, submitted major bids in India. Armada Condor secured new spot charter in Congo…
Operational Highlights OFS Currently bidding on well enhancement service jobs in Malaysia and West Africa. Gas Development & Technology At advanced stage of negotiations for BABs first FSRU project. Commenced studies for a…
Order book as at 30 September 2014 Quality firm backlog remains intact at RM21.8 bn (Q2: RM21.7 bn) As at 30 September 2014, the Groups order book stood at RM21.8 bn compared to RM21.7 bn as at 30 June 2014. Upon expiration of the firm…
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