4th Quarter 2014 Accounts – Havila Shipping

Havila Shipping · Jan 29, 2015 · 23 slides

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Slides

Havila Shipping ASA 4th Quarter 2014 accounts 2014 Preliminary accounts CEO Njl Svik 29.01.15 CFO Arne Johan Dale
Highlights fourth quarter Slow down as expected October was good From November weak Reduced activity More vessels returned to the North Sea Spot market Weaker NOK gives comprehensive FX effects MNOK 300 bond loan repaid Adjusted…
Highlights 2014 Solid improvement Total income at MNOK 1,691 Increased by MNOK 232 Adjusted EBITDA at MNOK 870 (52%) Increased by MNOK 159 (22%) Unrealized currency losses following the weakening of NOK as high as ordinary…
Summary of facts and figures Q4 Q4 14 Mill NOK Q4 13 Mill NOK Freight income 432 Freight income 360 Total income 390 Total income 360 EBITDA (adjusted) 218 EBITDA (adjusted) 171 EBITDA margin 50 % EBITDA margin 48 % Utilization…
Summary of facts and figures 2014 2014 Mill NOK 2013 Mill NOK Freight income 1 699 Freight income 1 332 Total income 1 691 Total income 1 413 EBITDA (adjusted) 869 EBITDA (adjusted) 609 EBITDA margin 51 % EBITDA margin 43 %…
Figures
Main figures NOK mill Q4 2014 Q3 2014 Q2 2014 Q1 2014 Q4 2013 Q3 2013 Income and gains 390.4 519.6 402.3 378.5 360.2 401.5 EBITDA (Adjusted) 217.9 55.8 273.2 52.6% 190.2 47.3% 177.9 47.0% 171.3 47.6% 214.5 53.4% Pre tax - result 119.2…
FX exchange rates 12,0000 11,5000 11,0000 10,5000 10,0000 9,5000 9,0000 8,5000 8,0000 7,5000 7,0000 6,5000 6,0000 5,5000 5,0000 A13 A13 A14 A14 D12 M13 M13 D13 M14 M14 D14 F13 S13…
Interest bearing debt NOK millions Q4 14 Q3 14 Q2 14 Q1 14 Q4 13 Q3 13 Q2 13 Q1 13 Long term debt 5 012 4 836 4 890 5 416 4 827 5 341 5 184 5 371 Next years instalments 899 1 106 1 104 652 1 106 698 923 730 Total 5 910 5 942 5…
Modern fleet Value adjusted fleet age: 6 years, 4 month Market value Fleet value: BNOK 8.3 5% 7% Not including Havila Troll Booked value Fleet value: BNOK 7.5 Excess value: BNOK 0.8 Long term financing 88 % Secured : BNOK 4.8…
Quarterly income 600 500 400 300 520 402 401 390 379 367 200 361 360 357 354 341 330 100 - Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3…
Quarterly vessel expenses 250,0 225,0 20,5 17,9 20,4 32,8 200,0 26,1 18,9 36,8 25,5 18,1 25,9 24,7 10,3 11,1 36,9 18,9 9,9 175,0 37,5 26,5 9,6 10,0 10,3 10,1 9,2 150,0 56,0 55,2 41,1 55,0 46,0 9,6 40,8 41,2 41,1 40,2 43,7 49,1…
Operating profit from segments 150 140 143 130 120 110 100 90 80 86 85 85 79 70 76 75 70 60 62 60 50 57 56 55 55 54 53 51 51 50 50 49 40 46 30 40 29 20 10 15…
Contractual coverage Fleet utilization Contract coverage 2015-2019 (time charter fleet) Q4 11: 92% 90% 4% Q1 12: 94% 80% 6% 9% 20% Q2 12: 93% 70% 30% Q3 12: 93% 60% Q4 12: 90% 50% 85% 27% 84% Q1 13:…
Contract backlog 1 600 77 1 400 395 1 200 541 1 000 800 1 371 513 600 990 239 400 575 695 368 368 324 373 311 200 240 From 2020 49 - Q1 15 Q2 15 Q3 15 Q4 15…
Key figures EBITDA % VALUE PER SHARE EARNINGS PER SHARE 60% 100 4,00 98 97 97 95 95 95 95 3,00 55% 92 2,22 2,40 53% 53% 90 89 52% 2,00 50% 50% 85 1,23 0,87 1,00 48% 47% 80 0,56 47% 45% 75 - Q114 Q113 Q213 Q313…
Assets 10 000 100 % 9 000 90 % 870 831 8 000 814 841 742 967 831 869 821 80 % 812 814 897 7 000 70 % 6 000 60 % 5 000 50 % 7 653 7 555 7 552 7 539 7 525 7 507 7 504 7 489 7 472 4 000 40 % 6 899 6 874…
- 10 000 1 000 2 000 3 000 4 000 5 000 6 000 7 000 9 000 8 000 Equity Q1 12 1 809 5 327 791 Q2 12 1 782 5 286 832 Q3 12 1 824 5 162 996 Q4 12 2 008 5 707 970 Q1 13 1 989 5 557 984 Long term debt Q2 13 2 008…
Summing up
Spot market Q1 15 Vessels AHTS Havila Venus Havila Jupiter Havila Neptune PSV Havila Crusader Market Volatile spot market Some tenders for both PSV and AHTS 20
This is Havila Shipping ASA Head-office in Fosnavg, Norway Offices in Rio Labuan Aberdeen Partnership with POSH in Singapore A fleet of 27 vessels 800 offshore staff 46 onshore Strong operating track record A qualified…
Largest shareholders Shareholder Address Shares Interest Havila Holding AS FOSNAVG 15 227 130 50,5 % Odin Offshore OSLO 2 551 378 8,5 % Pareto Aksje Norge OSLO 1 467 374 4,9 % Torghatten ASA BRNNYSUND 1 223 100 4,1 % The Northern Trust…
Summary Unrealized FX losses a part of the business NOK expected to revalue Oil price and market prevents dividend Fourth quarter considerably better then previous fourth quarters Increased backlog value following weaker NOK High…

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