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1st Quarter 2014 Earnings Conference Call – Cal Dive International

Cal Dive International · May 1, 2014 · 11 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. 1st Quarter 2014 Earnings Conference Call – Cal Dive International – slide 1
    Cal Dive International 1st Quarter 2014 Earnings Conference Call
  2. 1st Quarter 2014 Earnings Conference Call – Cal Dive International – slide 2
    Presentation Outline Summary of 1Q 2014 Backlog Discussion of Financial Results Non-GAAP Reconciliations Q&A 3
  3. 1st Quarter 2014 Earnings Conference Call – Cal Dive International – slide 3
    Summary of 1Q 2014 Positive first quarter EBITDA; first time since 2009 Nearly 50% increase in revenue Significant contribution from Pemex contracts Full utilization of Sea Horizon Successful platform installation project in…
  4. 1st Quarter 2014 Earnings Conference Call – Cal Dive International – slide 4
    Backlog ( millions) 400 350 300 250 200 150 100 50 0 1Q09 1Q10 1Q11 1Q12 1Q13 1Q14 5
  5. 1st Quarter 2014 Earnings Conference Call – Cal Dive International – slide 5
    Financial Results ( thousands, except per share amounts and percentages) Three Months Ended March 31, 2014 2013 Revenues 119,104 80,919 Gross Loss (6,219) (11,517) Margins (5%) (14%) Operating Loss (14,634) (23,571) Margins…
  6. 1st Quarter 2014 Earnings Conference Call – Cal Dive International – slide 6
    Utilization Utilization only includes Company-owned assets and does not reflect activity from chartered vessels or third party vessels. Three Months Ended March 31, 2014 2013 Effective Utilization (1) - Saturation Diving…
  7. 1st Quarter 2014 Earnings Conference Call – Cal Dive International – slide 7
    Revenue Breakdown ( millions) 53% Domestic International 150 119 47% 81 100 49% 105 88% 59 50 73% 22 27% 14 12% 0 55% 1Q 2013 1Q 2014 8
  8. 1st Quarter 2014 Earnings Conference Call – Cal Dive International – slide 8
    Debt Levels ( millions) Net Debt Levels (1) 350 Horizon Acquisition 300 238 250 200 200 106 152 314 150 106 254 86 100 183 141 134 132 50 94 66 - 2007 2008 2009 2010 2011 2012 2013 3/31/2014 Net Secured Debt…
  9. 1st Quarter 2014 Earnings Conference Call – Cal Dive International – slide 9
    Debt Refinancing Completed refinancing of debt structure in May to increase liquidity and financial flexibility: 100 million senior secured second lien facility, including new loan of 80 million and conversion of existing 20 million…
  10. 1st Quarter 2014 Earnings Conference Call – Cal Dive International – slide 10
    Non-GAAP Reconciliations 11
  11. 1st Quarter 2014 Earnings Conference Call – Cal Dive International – slide 11
    EBITDA Reconciliations ( thousands) Three Months Ended March 31, 2014 2013 EBITDA (unaudited) 2,000 (6,521) Less: Depreciation & amortization 14,360 14,180 Less: Income tax benefit (6,897) (9,319) Less: Net interest expense…

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