Dolphin Group ASA SEB Nordic Seminar - 8th January 2015 Atle Jacobsen (CEO) & Erik Hokholt (CFO) www.dolphingeo.com 2
Business lines Marine Contract Multi-Client Processing & Imaging Processing Software Expanding modern fleet Growing Multi-Client Full onshore & offshore Land & marine seismic data library processing & imaging processing software In…
The expansion and revenue growth according to plan Illustrative Revenues USD million Revenues are Polar Empress growing with (Q2 2015) an expanding fleet 2015 target 500 400 400 247 221 98 2011 2012 2013 2014 2015…
Dolphin financials quarterly developments (USD million) Summary: Revenues of USD 128.5 million, compared to USD 70.1 million in Q3 2013 EBITDA of USD 38.2 million (29,7%), compared to USD 26.4 million in Q3 2013 EBIT of USD 21.1…
Multi-Client library with book value of USD 115 million ( end Q3) (q3) Book Q3) value Selective investments are made in attractive exploration areas in Norway, UK and Brazil Focus on sales from existing library, which is well…
Regional strategy successfully implemented well positioned for the Northern Hemisphere winter season Artemis Atlantic (Stacked) Bergen Oslo London Houston Artemis Arctic (Contract) Singapore Polar Duchess (Contract)…
Strong backlog, de-risked in three regional markets Order backlog of USD 340 million as of 1 November 2014 (Q3 report) Out of total backlog, 35% is secured by clients request for Dolphin powerful solutions Dolphin backlog increased…
Rapid and successful fleet expansion one vessel to go Polar Duke (3D, 12-14 str) Polar Duchess (3D, 12-14 str) Sanco Swift (3D, 16 str) Polar Marquis (3D , 14 str) Delivered May 2011 Delivered April 2012 Delivered July 2013…
Dolphin is asset-light with flexible Time-Charter commitments Vessel Firm initial period/Options 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Artemis Atlantic TC firm 4 years from May '11 April…
The three largest players control some 60% of total market Recent changes indicate a reduction of 10 vessels from 2013 to 2014 Market shares ( of vessels 3D fleet) Market shares ( of practical streamers 3D fleet) 68 654 65 636…
Dolphins fleet is among the most powerful in the industry 25% 13% High End Increased market share in 14+ streamer market - higher margin www.dolphingeo.com 13
Multi-Client update (as per Q3 report) Increased sales activity in Q4, triggered Late Sales below expectations due to client by upcoming licensing rounds and budget constrains and delayed investments significant discoveries due to…
Strong position in the Barents Sea Dolphin is delivering on a long-term strategy of becoming a leading Multi- Client player in the Barents Sea The Gohta and recent Alta discovery trigger extensive interest for the upcoming 23rd…
Processing & Imaging continued growth 3.5 Quarterly external revenue growth 3 Financials 2.5 Record external revenue of USD 2.9 million (+38% vs. Q2) 2 Further external revenue growth expected in Q4 1.5 Backlog maintained at…
Global market outlook 2015 The combination of our clients being more prudent managing their cash-flow, Russian sanctions and recent sharp drop in oil price, are adding to the negative sentiment in the seismic industry The negative…
Global market outlook 2015 (continued) Dolphin experience that drop in Oil-price is not resulting in postponements of live tenders Several high volume contracts awarded to industry in December (Colombia, Myanmar, Pacific and Egypt)…
2014 original guidance - successfully delivered Two new high-capacity vessels, Sanco Sword and Polar Marquis delivered Revenues expected to exceed USD 400 million for 2014. Multi-Client investment in prospective areas offshore…
2015 Guidance - summary (full detailed guidance in appendix) Dolphins full year revenue is expected to exceed USD 500 million for 2015, representing a growth of 15-20% from 2014 The Dolphin Multi-Client investments will primarily be…
Question & Answer Session 21
Dolphin detailed assumptions and guidance for 2015 (updatedasper8January2015) New Vessel capacity to be delivered on time and budget Polar Empress (3D, 14-22 str.) to be delivered end April 2015 Pricing, costs, utilisation Overall…
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