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First quarter 2014 – GC Rieber Shipping ASA

GC Rieber Shipping ASA · May 16, 2014 · 17 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. First quarter 2014 – GC Rieber Shipping ASA – slide 1
    First quarter 2014 Bergen 16 May 2014 / First quarter 2013 Bergen 16 May 2013 Bergen, 22 February 2013 15.05.2014 1 GC RIEBER SHIPPING
  2. First quarter 2014 – GC Rieber Shipping ASA – slide 2
    Agenda Highlights Q1 2014 Operational review Financial review Summary and outlook Polar Onyx 15.05.2014 2 GC RIEBER SHIPPING
  3. First quarter 2014 – GC Rieber Shipping ASA – slide 3
    Stable first quarter Good underlying operations Solid contract backlog Fleet utilisation of 89% Delivery of Polar Onyx Sale of shares in Reef Subsea Polar Onyx 15.05.2014 3 GC RIEBER SHIPPING
  4. First quarter 2014 – GC Rieber Shipping ASA – slide 4
    Key figures REVENUES EBITDA NET PROFIT NOK million NOK million NOK million 250 150 500 439 215 126 400 200 181 120 174 176 168 90 94 300 150 90 75 66 200 100 60 100 41 50 30 11 0 -6 -73 0 0 -100 Q113 Q213 Q313…
  5. First quarter 2014 – GC Rieber Shipping ASA – slide 5
    Operational Review Q1 2014 15.05.2014 5 GC RIEBER SHIPPING
  6. First quarter 2014 – GC Rieber Shipping ASA – slide 6
    Solid contract backlog of NOK 3.1 billion* CONTRACT COVERAGE* CONTRACT BACKLOG* Utilisation rate NOK million 98% 100% 1 800 1 500 80% 62% 1 200 1 094 60% 48% 900 665 690 40% 34% 602 600 20% 300 0% 0 2014 2015…
  7. First quarter 2014 – GC Rieber Shipping ASA – slide 7
    Contract portfolio with average duration of 2.6 years 2014 2015 2016 2017 VESSEL CHARTERER Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 SUBSEA Polar Prince Reef Subsea Polar King Reef Subsea Option (15 months) Polar Queen BOA Marine…
  8. First quarter 2014 – GC Rieber Shipping ASA – slide 8
    Construction of seismic vessel on track Advanced seismic vessel Ice class 1A* Expected delivery in Q1 2015 5 years contract with Dolphin Geophysical from delivery Construction according to plan and on budget Seismic newbuild…
  9. First quarter 2014 – GC Rieber Shipping ASA – slide 9
    Subsea Fleet utilisation 99 percent KEY FIGURES NOK million 100 percent in Q1 2013 100 94 Improved performance YoY 90 82 76 Delivery of Polar Onyx primo 80 70 March 2014 60 50 Market 46 40 37 37 Relatively stable activity…
  10. First quarter 2014 – GC Rieber Shipping ASA – slide 10
    Marine Seismic Fleet utilisation 67 percent KEY FIGURES NOK million Down from 100 percent in Q1 2013 100 Reduced income and EBITDA 80 78 78 80 76 Yard stay for upgrading of Polar 58 Marquis 60 49 41 Market 40 34 25…
  11. First quarter 2014 – GC Rieber Shipping ASA – slide 11
    Ice/ Support Fleet utilisation 100 percent KEY FIGURES NOK million Corresponding to Q1 2013 100 Reduced activity YoY Sale of HMS Protector 80 Market 60 45 Generally stable development 40 27 26 28 19 16 18 16 20 9 8 0…
  12. First quarter 2014 – GC Rieber Shipping ASA – slide 12
    Financial review Q1 2014 15.05.2014 12 GC RIEBER SHIPPING
  13. First quarter 2014 – GC Rieber Shipping ASA – slide 13
    Income statement NOK mill Q1 2014 Q1 2013 (2) 2013 (2) Operating income 167.9 181.0 745.5 EBITDA 74.9 89.8 375.4 EBIT 41.2 60.4 621.9 Net financial income and expenses 0.6 - 69.6 - 260.5 Profit before tax 41.8 - 9.2 361.4 Net…
  14. First quarter 2014 – GC Rieber Shipping ASA – slide 14
    Balance sheet per 31.03.2014 NOK million Total balance NOK 4 412 5 000 million 58 Intangible assets Equity ratio 50.6 percent 4 000 Solid cash position 2232 Equity 3 000 Net debt NOK 1 324 million 3493 Fixed assets Total debt…
  15. First quarter 2014 – GC Rieber Shipping ASA – slide 15
    Outlook Overall market Generally stable offshore market Expected trends in segments: Subsea: Good demand, focus on IMR services Marine Seismic: Expect market to be upheld Ice/support: Stable development, long-term focus…
  16. First quarter 2014 – GC Rieber Shipping ASA – slide 16
    Summary Stable quarter Sale of Reef Subsea Delivery of Polar Onyx Improved quarterly result Polar Onyx 15.05.2014 16 GC RIEBER SHIPPING
  17. First quarter 2014 – GC Rieber Shipping ASA – slide 17
    / THANK YOU FOR LISTENING

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