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2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec

Modec · Aug 8, 2014 · 18 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. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 1
    MODEC, Inc. 2014 Half-Year Financial Results Analysts Presentation August 8, 2014
  2. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 2
    2014 Half-Year Operations Review Financial Results & Outlook 2
  3. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 3
    2014 Half-Year Market Environment World Population Energy Demand 10 20,000 Mtoe Billions Non- 5 Less developed regions 10,000 OECD OECD 0 More developed regions 0 Petrobras 2014-2018 BMP 2000 2010 2020 2030 2000 2010…
  4. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 4
    2014 Half-Year Operations Review New Orders Revenue New Orders stood at 35.6 billion yen Revenue totaled 161.9 billion yen, increased by 51% compared with 2Q Attributable to O&M and change 2013 orders EPCI of MV25 and MV27…
  5. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 5
    2014 Half-Year Operations Review Ordinary Profit Net Income (billion JPY) (billion JPY) 20 6.0 5.13 4.92 15.82 15 4.0 9.30 3.07 10 2.74 6.16 5.86 5.06 2.0 5 1.08 0 0.0 2010 2011 2012 2013 2014 2Q 2010 2011 2012 2013 2014…
  6. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 6
    Units on Order FPSO FPSO FPSO FPSO Cidade de Mangaratiba Cidade de Itaguai Tullow T.E.N. Cidade de Caraguatatuba MV24 MV26 MV25 MV27 Client Petrobras Petrobras Tullow Petrobras Contract EPC + Time Charter EPC + Time Charter…
  7. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 7
    Time Charter / O&M Projects As of August 2014 Time Charter (Own & Operate) in operation 12 FPSOs/FSOs Southeast Asia Brazil under construction 4 FPSOs O&M (Operate) Time Charter Time Charter in operation 4 FPSOs Petrobras FPSO…
  8. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 8
    As of August 2014 Time Charter / O&M Period Time Charter (Own & Operate) in operation 12 FPSOs/FSOs under construction 4 FPSOs Time Charter fixed period O&M (Operate) Time Charter option period in operation 4 FPSOs O&M period…
  9. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 9
    Prospective Projects Gulf of Mexico TLP North America Asia Africa & Pacific South America Ghana China Brazil FPSO (EPCI + Charter) TLP 12 Petrobras FPSOs (EPCI + Charter) 1 other FPSO (EPCI + Charter) Angola…
  10. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 10
    FPSO Market Trends FPSO Orders (2010-2014YTD + Forecast) GOM Europe Brazil Pacific EMA Forecast Production (bopd) Africa Asia GOM 250,000 Brazil Africa Europe 26 Pacific 200,000 Includes Petrobras 8 serial FPSOs Asia 16…
  11. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 11
    2014 Half-Year Operations Review Financial Results & Outlook 11
  12. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 12
    Profit & Loss Variance 2013 2Q 2014 2Q 2013 2Q 2013 (million JPY) 2014 2Q Revenue 107,268 161,977 54,709 254,401 EPCI projects progressed on track Gross Profit 9,391 9,112 (279) 16,713 Deferred profit was recognized in prior year…
  13. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 13
    Revenue Revenue Project EPCI + Charter Period (billion JPY) EPC(I) Period Time Charter Period 300 254.4 MV27 200 186.9 MV25 162.0 Major projects 146.7 130.0 MV24 MV26 MV26 MV25 100 MV27 MV24 2011 2012 2013 2014…
  14. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 14
    Ordinary Profit Ordinary Profit Influence of Deferred Profits Ordinary Profit Deferred Realized Balance Ordinary Profit before Deferred Profits Adjustment (billion JPY) (billion JPY) 2010 2011 2012 2013 2014 2Q 14.7 20 15 11.9…
  15. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 15
    New Orders & Order Backlogs New Orders Order Backlogs Order Backlogs for Equity Method Portion (Lease, Charter and O&M) (billion (billion (billion JPY) JPY) JPY) 600 1,000 1,000 518.5 896.7 750.7 750 750 400 342.7 551.3…
  16. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 16
    Balance Sheet 2013 2014 2Q Variance (million JPY) Short-term Loans Receivable - 23,241 23,241 Total Assets: Increase in account receivable temporarily due to progress Total Current Assets 120,889 193,329 72,440 of EPCI projects…
  17. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 17
    Key Financial Figures Operating Profit & EBITDA Interest-Bearing Debt Operating profit (equity method portion) Total interest-bearing debt (after adjustment) EBITDA (after adjustment) Total interest-bearing debt/EBITDA (billion JPY)…
  18. 2014 HALF YEAR FINANCIAL RESULTS ANALYST PRESENTATION – Modec – slide 18
    2014 Financial Forecast Revenue Ordinary Profit (billion JPY) 300.0 (billion JPY) 300 20 254.4 15.8 186.9 15 13.0 200 146.7 9.3 130.0 10 6.2 100 5.1 5 0 0 2010 2011 2012 2013 2014(F) 2010 2011 2012 2013 2014(F) Net…

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