North Atlantic Drilling Ltd. Third quarter 2014 results November 26, 2014
Agenda Highlights Third Quarter Contract Backlog Market Outlook Third Quarter 2014 Financials Q &A 3
Highlights Third quarter EBITDA and Margin 180 70,0 % Record high EBITDA at 160 140 60,0 % 50,0 % 120 US168 million 100 40,0 % 80 30,0 % 60 Economic utilization at 20,0 % 40 20 10,0 % 0 0,0 % 99 percent Q4-12 Q1-13 Q2-13…
Rosneft Partnership Offshore Drilling Contracts Russian Onshore Drilling Rosneft to become significant shareholder in NADL Closing extended to May 2014 due to current geopolitical obstacles complicating finalization of all…
Dividend Policy Supporting Pillars Order Market Capex Financial Backlog & Operations Outlook Program Flexibility Margins Dividend suspension is a responsible course of action to protect the company from recent market…
Agenda Highlights Third Quarter Contract Backlog Market Outlook Third Quarter 2014 Financials Q&A 7
Contract backlog* Current Contract status Rig Client dayrate (USk/day) 2014 2015 2016 2017 2018 2019 2020 Semi-submersibles West Alpha 523/539 552 to Q2 2021/2022 West Venture 431 West Phoenix 465 West Rigel Drillships…
Contract Coverage Strong contract backlog of US6.0 bn, whereof US4.1 bn with Rosneft 2015 West Navigator Differentiated by premium harsh environment assets 7% and high operational performance 9% High safety track-record…
Agenda Highlights Third Quarter Contract Backlog Market Outlook Third Quarter 2014 Financials Q&A 10
Market volatility Recent decline in oil price is impacting oil companies plans for drilling in 2015 UK/Norway demand in 2016 expected to increase from 2015- level due to projects in the pipeline Statoil has suspended and…
Supply and demand catalysts for harsh environments Fleet attrition in the UK and in Norway 19 floaters older than 30 years have firm period contracts expiring in 2014-2017 Most of the recent classification projects of older…
Agenda Highlights Third Quarter Contract Backlog Market Outlook Third Quarter 2014 Financials Q&A 13
Financial reporting highlights This quarter Previous quarter EBITDA US168m US154 m Earnings per share US0.29 US0.24 Operating profit US111 m US105 m Financial items US(24) m US(42) m Cash flow from operating activities…
Operating Income - Total 3Q14 2Q14 1Q14 4Q13 Unaudited accounts in USD millions Contract revenues 297 269 226 271 Reimbursables 46 58 32 27 Related party revenues 13 16 16 12 Total operating revenues 356 343 274 310 Vessel…
Net Income - Total 3Q14 2Q14 1Q14 4Q13 Unaudited accounts in USD millions Net operating income 111 105 71 89 Financial items Interest expense (27) (27) (23) (24) Gain / (loss) on derivatives (13) (19) 5 (16) Other financial…
Balance Sheet - Assets September June March December 30, 2014 30, 2014 31, 2014 31, 2013 Current assets Cash and cash equivalents 100 81 114 84 Restricted cash 8 14 9 25 Accounts receivables, net 263 272 198 222 Related party…
Balance Sheet Liabilities and Shareholders Equity September June March December 30, 2014 30, 2014 31, 2014 31, 2013 Current liabilities Current portion of long-term debt 218 218 206 167 Related party transaction 23 18 50 13 Tax…
Agenda Highlights Third Quarter Contract Backlog Market Outlook Third Quarter 2014 Financials Q&A 19
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