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Q3 2014 Presentation – Odfjell Drilling

Odfjell Drilling · Nov 25, 2014 · 23 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. Q3 2014 Presentation – Odfjell Drilling – slide 1
    Q3 2014 PRESENTATION
  2. Q3 2014 Presentation – Odfjell Drilling – slide 2
    Contents Highlights and material events Segment reporting Financial information Summary Page 2
  3. Q3 2014 Presentation – Odfjell Drilling – slide 3
    Group Financial performance Q3 2014 highlights: Operating revenue of USD 275 million EBITDA of USD 84 million EBITDA-margin of 31% Profit of USD 17 million Page 3
  4. Q3 2014 Presentation – Odfjell Drilling – slide 4
    Highlights and material events in Q3 2014 MODU Deepsea Atlantics 2-year option not declared by Statoil. Deepsea Metro II - reduced financial utilisation related to subsea control system. Drilling & Technology Drilling contract on the…
  5. Q3 2014 Presentation – Odfjell Drilling – slide 5
    Subsequent events post Q3 2014 MODU Deepsea Aberdeen delivered from yard on 6 November 2014. In transit to West of Shetland for its 7 years drilling contract with BP. Deepsea Metro I New USD 400 million bond debt issued. The…
  6. Q3 2014 Presentation – Odfjell Drilling – slide 6
    Segment reporting - Mobile Offshore Drilling Units (MODU) MODU Highlights MODU Firm MODU contract backlog at 30 September 2014 of USD 2 billion Financial utilisation: Financial Utilisation1 Q3 14 Q3 13 YTD 14 YTD 13 FY 13 FY 12…
  7. Q3 2014 Presentation – Odfjell Drilling – slide 7
    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 545,000 Deepsea NCS 566.371 Atlantic Statoil Deepsea UK…
  8. Q3 2014 Presentation – Odfjell Drilling – slide 8
    Segment reporting - Platform Drilling and Technology Platform Drilling and Technology Highlights Drilling & Technology Firm contract backlog of USD 0.6 billion at 30 September 2014 Value of priced optional periods of USD 1.5…
  9. Q3 2014 Presentation – Odfjell Drilling – slide 9
    Segment reporting - Well Services BASES : EUROPE Norway United Kingdom Key figures Holland 550 employees Romania Services from 11 bases Operations in more than 20 countries BASES : ASIA Service offering Thailand…
  10. Q3 2014 Presentation – Odfjell Drilling – slide 10
    Market outlook Softening in demand for the Groups services materialised but long-term fundamentals expected to remain satisfactory MODU Near-term over-supplied DW and UDW market. Evidenced by shorter lead times and some units…
  11. Q3 2014 Presentation – Odfjell Drilling – slide 11
    Earnings visibility through USD 4.3 billion order backlog Total revenue backlog per year (for firm contracts and priced option periods)1 USD million Firm Options Firm contracts USD 2.7 billion 1000 Priced options USD 1.6 billion…
  12. Q3 2014 Presentation – Odfjell Drilling – slide 12
    Financial information
  13. Q3 2014 Presentation – Odfjell Drilling – slide 13
    Financial performance highlights Group Operating Revenues (USD million) Group EBITDA (USD million) 1 174 393 382 1 094 1 057 331 305 885 820 782 250 300 103 275 84 88 Q3 14 Q3 13 YTD 14 YTD 13 FY 13 FY 12 FY 11 FY…
  14. Q3 2014 Presentation – Odfjell Drilling – slide 14
    Group summary financials Condensed consolidated income statement P&L - (USD million) Q3 14 Q3 13 YTD 14 YTD 13 FY 13 Operating revenue 275 300 820 885 1 174 Other gains/losses 1 -0 12 21 22 Share of profit/(loss) from joint ventures 0 4…
  15. Q3 2014 Presentation – Odfjell Drilling – slide 15
    Segment reporting - MODU financials MODU Key Financials (USD million) Condensed P&L - (USD million) Q3 14 Q3 13 YTD 14 YTD 13 FY 13 Revenues 762 Operating revenue 193 202 557 572 762 EBITDA 86 97 242 258 338 556 572 Depreciation and…
  16. Q3 2014 Presentation – Odfjell Drilling – slide 16
    Segment reporting - Drilling & Technology financials Drilling and Technology Key Financials (USD million) Condensed P&L - (USD million) Q3 14 Q3 13 YTD 14 YTD 13 FY 13 Revenues Operating revenue 78 88 237 265 352 352 EBITDA 3 7 -0…
  17. Q3 2014 Presentation – Odfjell Drilling – slide 17
    Segment reporting - Well Services financials Well Services Key Financials (USD million) Condensed P&L - (USD million) Q3 14 Q3 13 YTD 14 YTD 13 FY 13 Revenues 227 Operating revenue 48 57 151 173 227 EBITDA 20 26 64 80 105 173…
  18. Q3 2014 Presentation – Odfjell Drilling – slide 18
    Group - Eliminations & Reconciliation Group Eliminations & Reconciliation (USD million) Q3 14 Q3 13 YTD 14 YTD 13 FY 13 Operating revenue -45 -47 -125 -125 -167 EBITDA -24 -26 -56 -52 -76 EBIT -15 -18 -30 -27 -44 EBIT for reportable…
  19. Q3 2014 Presentation – Odfjell Drilling – slide 19
    Deep Sea Metro financials Deep Sea Metro Ltd Group - Key financials (100% basis) Condensed figures - (USD million) Q3 14 Q3 13 YTD 14 YTD 13 FY 13 Total income 95 105 271 271 359 At 30 September 2014 the total interest bearing debt in…
  20. Q3 2014 Presentation – Odfjell Drilling – slide 20
    Summary statement of financial position Group statement of financial position Assets (USDm) 30 Sep 2014 30 Sep 2013 31 Dec 2013 Equity and liabilities (USDm) 30 Sep 2014 30 Sep 2013 31 Dec 2013 Intangible assets 25 27 27 Total paid-in…
  21. Q3 2014 Presentation – Odfjell Drilling – slide 21
    Summary statement of cash flow Group statement of cash flow Cash Flow - (USDm) Q3 14 Q3 13 YTD 14 YTD 13 FY 13 Profit before income tax 33 43 93 132 171 Cash from operations 41 91 214 251 339 Interest paid -13 -14 -38 -42 -56 Income tax…
  22. Q3 2014 Presentation – Odfjell Drilling – slide 22
    Summary Earnings visibility through USD 4.3 billion order backlog Oversupplied DW & UDW market set pressure on day rates Slowdown in North Sea activity level reduces demand for the Groups engineering services Well Services…
  23. Q3 2014 Presentation – Odfjell Drilling – slide 23
    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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