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INVESTOR PRESENTATION – GC Rieber Shipping ASA

GC Rieber Shipping ASA · Aug 22, 2014 · 18 slides

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Slides

  1. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 1
    Second quarter 2014 Bergen 22 August 2014 / First quarter 2013 Bergen 16 May 2013 Bergen, 22 February 2013 21.08.2014 1 GC RIEBER SHIPPING
  2. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 2
    Agenda Highlights Q2 2014 Operational review Financial review Summary and outlook Polar Onyx 21.08.2014 2 GC RIEBER SHIPPING
  3. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 3
    Highlights second quarter Stable operations, focus on core business Rebuilding of Polar Marquis completed Fleet utilisation of 94% Solid financial result Polar Marquis 21.08.2014 3 GC RIEBER SHIPPING
  4. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 4
    Key figures REVENUES EBITDA NET PROFIT NOK million NOK million NOK million 250 150 500 215 439 214 126 400 200 120 110 174 176 168 94 300 150 90 75 66 200 100 60 100 41 44 50 30 0 -6 0 0 -100 -73 Q213 Q313 Q413…
  5. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 5
    Operational Review Q2 2014 21.08.2014 5 GC RIEBER SHIPPING
  6. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 6
    Solid contract backlog of NOK 3.0 billion* CONTRACT COVERAGE* CONTRACT BACKLOG* Utilisation rate NOK million 100% 100% 1 800 1 500 80% 1 169 62% 1 200 60% 48% 900 38% 709 40% 618 600 469 20% 300 0% 0 from…
  7. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 7
    Average duration of contract portfolio is 2.4 years 2014 2015 2016 2017 2018 VESSEL CHARTERER Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 SUBSEA Fixed Option Polar Prince Reef Subsea Polar King Reef Subsea Polar…
  8. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 8
    Construction of seismic vessel Advanced 3D seismic vessel 22 streamers and ice class 1A* Expected delivery in Q1 2015 5 years contract with Dolphin Geophysical from delivery Seismic newbuild 21.08.2014 8 GC RIEBER SHIPPING
  9. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 9
    Subsea Fleet utilisation 100 percent KEY FIGURES NOK million 89 percent in Q2 2013 150 Improved performance YoY 132 Delivery of Polar Onyx primo 120 March 2014 90 94 90 82 Increased fleet utilisation 70 72 60 Market 50 46…
  10. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 10
    Marine Seismic Fleet utilisation 82 percent KEY FIGURES NOK million 100 percent in Q2 2013 90 Reduced income and EBITDA 78 80 76 Yard stay for rebuilding of Polar 67 Marquis, delivered ultimo May 60 58 49 Market 41 Weaker,…
  11. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 11
    Ice/ Support Fleet utilisation 100 percent KEY FIGURES NOK million Equivalent to Q2 2013 60 Reduced volume YoY Sale of HMS Protector in 44 September 2013 Market 30 26 28 Generally stable development 16 18 16 16 9 8 8 0…
  12. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 12
    Financial review Q2 2014 21.08.2014 12 GC RIEBER SHIPPING
  13. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 13
    Income statement NOK mill Q2 2014 Q2 2013 (2) 1H 2014 1H 2013 (2) 2013 (2) Operating income 214.4 173.8 382.3 354.9 745.5 EBITDA 110.3 93.6 185.1 183.4 375.4 EBIT 72.2 56.4 113.4 116.8 621.9 Net financial income and expenses -28.4…
  14. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 14
    Segments Q2 2014 Q2 2013 NOK mill Revenues EBITDA Margin Revenues EBITDA Margin Subsea 132.3 72.3 54.6% 70.3 36.6 52.1% Marin Seismic 66.5 29.8 44.8% 77.5 40.9 52.8% Ice/ support 15.5 8.2 52.9% 26.1 16.1 61.7% Sum 214.4 110.3…
  15. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 15
    Balance sheet per 30.06.2014 NOK million Total balance NOK 4 369 million 5 000 Equity ratio 48.9 percent Intangible 57 assets 4 000 Solid cash position 2138 Net debt NOK 1 571 million Equity 3 000 Total debt of NOK 2 231…
  16. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 16
    Outlook Overall market Expectant offshore market Reduced petroleum investment activity Uncertainties related to political risk in the Russian region Expected trends in segments: Subsea: Relatively good demand Marine Seismic:…
  17. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 17
    Summary Stable operations, focus on core business Rebuilding of Polar Marquis completed Solid financial result Polar Onyx 21.08.2014 17 GC RIEBER SHIPPING
  18. INVESTOR PRESENTATION – GC Rieber Shipping ASA – slide 18
    / THANK YOU FOR LISTENING

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