HIGHLIGHTS FOURTH QUARTER 2013 Operational highlights Two vessels operating for Pemex - challenging conditions Completion of contracts in Brunei, Malaysia and Angola Contract for BOA Thalassa with Apache in Australia Strong technology…
FINANCIAL OVERVIEW
FINANCIAL HIGHLIGHTS Key figures Q4 Revenues and revenues/costs per vessel month (USD Million) Revenues of USD 44.9 million 60,00 5,0 50,00 7.5 EBITDA of USD 6.5 million 4,0 40,00 Net income of USD 1.3 million 3,0 30,00 2,0 20,00…
VESSEL UTILISATION Fleet utilisation at 50% 100 % - Contract: 46% 90 % - Multi-client: 4% 80 % BOA Thalassa (37%) - Completed contract in Brunei and Malaysia 70 % - Yard stay of 14 days 60 % - Waiting for permits to Australia…
CAPITAL STRUCTURE Balance sheet as at 31.12.13 (USD million) Cash and working capital 250 Cash at USD 56.5 million (46.9 Q3) Trade receivables increased by 200 USD 4.2 million to USD 31.5 million USD 56.8 million Other receivables…
OPERATIONAL OVERVIEW
UPDATE ON CONTRACT WITH PEMEX Large long-term contract USD 100 million Estimated to 15-16 vessel months Possible extensions of 2 x USD 25 million Status for Q4 Two vessels appr. 4 vessel months Challenging conditions Revenues of…
STRATEGIC PARTNERSHIP WITH NORTH ENERGY Substantial multi-client sale USD 12.1 million Sale of Barents Sea EM data library Payment in convertible bond strike price of NOK 4.15, coupon of 6% and maturity 6 months Pre-funding of future…
BARENTS SEA EM TECHNOLOGY IMPROVES EXPLORATION SUCCESS Strong track record confirms technology 20 of 20 exploration wells - The story of the broken seals - Large shallow targets Extended partnership with TGS - Proving the value of…
VESSEL SCHEDULE Expected vessel schedule as of 5 February 2014 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Oct Nov Dec Jan Feb Mar Apr May June July Aug Sept Mala- BOA Thalassa ysia Norway Norway Norway BOA Galatea Mexico Mexico Atlantic…
MARKET UPDATE Order book (USD Million) Contract coverage 140 Contract for Apache in Australia Two vessels operating for Pemex 120 Multi-client sales 113 100 Sales to North Energy in Q1 Developed opportunities in Norway, US GoM and 15…
SUMMARY AND OUTLOOK Summary Two vessels working for Pemex Positive development in the Barents Sea - Extended cooperation with TGS - Strategic agreement with North Energy Solid financial position Outlook Good contract coverage for…
Q&A
Welcome back Q1 2013 results 8 May 2014 Save the date capital markets day 26 March 2014
APPENDIX
VESSEL CHARTERS AND YARD STAYS BOA Thalassa BOA Galatea Atlantic Guardian EM Leader EM Express Firm Charter December 2015 July 2015 1 March 2016 Standby in Las Standby in Bergen Palmas at no cost to EMGS. (charter until 3…
CONSOLIDATED INCOME STATEMENT USD million QUARTER ENDING YEAR ENDING 31.12.2013 31.12.2012 31.12.2013 31.12.2012 Contract sales 40.1 34.6 111.3 176.1 Multi-client sales 4.8 10.4 33.3 24.7 Total revenues 44.9 45.0 144.6 200.8 Charter…
CONSOLIDATED STATEMENT OF FINANCIAL POSITION USD million YEAR ENDING 31.12.2013 31.12.2012 ASSETS Goodwill 14.4 14.4 Multi-client library 28.1 14.1 Intangible assets 3.4 4.9 Property, plant and equipment 27.7 32.3 Assets under…
CONSOLIDATED STATEMENT OF CASH FLOW USD million YEAR ENDING 31.12.2013 31.12.2012 Net cash flow from operating activities 57.6 28.7 Net cash flow from investing activities (51.1) (42.8) Net cash flow from financial activities 9.5…
LARGEST SHAREHOLDERS (AS OF 5 FEBRUARY) SHAREHOLDER SHARES HOLDING 1 FIDELITY FUNDS 11 505 317 5.76 % 2 MORGAN STANLEY & CO S/A MSCO CLIENT EQUI 10 574 938 5.29 % 3 SKAGEN GLOBAL 10 124 112 5.07 % 4 ODIN OFFSHORE 8 473 631 4.24 %…
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