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2014 Financial Results Analysts Presentation – Modec

Modec · Feb 16, 2015 · 22 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. 2014 Financial Results Analysts Presentation – Modec – slide 1
    MODEC, Inc. 2014 Financial Results Analysts Presentation February 16, 2015
  2. 2014 Financial Results Analysts Presentation – Modec – slide 2
    2014 Full-Year Highlight Market Review & Outlook Financial Results 2
  3. 2014 Financial Results Analysts Presentation – Modec – slide 3
    FY2014 : Highlight New Orders Revenue New Order 395.7 billion JPY Revenue hit a record high of 378.5 New orders for 1 FPSO (Petrobras billion JPY Tartaruga MV29: EPCI + Charter) and EPCI progressed well on MV25 1 TLP (Hess…
  4. 2014 Financial Results Analysts Presentation – Modec – slide 4
    FY2014 : Highlight Operating profit, ordinary profit, net income, all hit record highs Operating Profit Ordinary Profit (billion JPY) (billion JPY) 10 20 18.3 8.5 15.8 9.2 5 10 3.5 3.4 3.7 6.1 5.0 0.2 0 0 2010 2011 2012…
  5. 2014 Financial Results Analysts Presentation – Modec – slide 5
    FY2014 : Highlight Raised approx. 20 billion JPY by public offering and third-party allotment; Equity equity increased to 96.7 billion JPY (billion JPY) Accounts receivable and payable increased 96.7 100 by approx. 83 billion JPY and…
  6. 2014 Financial Results Analysts Presentation – Modec – slide 6
    FY2014: New Awards Petrobras Tartaruga MV29 FPSO Petrobras Tartaruga Verde / Tartaruga Mestia FPSO Project (November 2014) Client: Petrobras Contract: EPCI + Time Charter (20 years) Location: Tartaruga Verde & Tartaruga Mestia…
  7. 2014 Financial Results Analysts Presentation – Modec – slide 7
    FY2014: EPCI Projects FPSO FPSO FPSO FPSO Petrobras Hess Cidade de Cidade de Prof. John Cidade de Tartaruga Verde Stampede Mangaratiba Itaguai Evans Atta Mills Caraguatatuba MV29 FPSO TLP MV24 MV26 (MV25) MV27 New Award New Award…
  8. 2014 Financial Results Analysts Presentation – Modec – slide 8
    As of February 2015 Time Charter (Own & Operate) Time Charter / O&M Period in operation 13 units 10 FPSOs 3 FSOs Time Charter fixed period under construction 4 FPSOs Time Charter option period O&M (Operate) in operation 4 FPSOs…
  9. 2014 Financial Results Analysts Presentation – Modec – slide 9
    2014 Full-Year Highlight Market Review & Outlook Financial Results 9
  10. 2014 Financial Results Analysts Presentation – Modec – slide 10
    FY2014: Market Review FPSO Awards (Actual + Forecast) FPSO Awards in 2014 GOM Europe Pacific Asia Africa Brazil Production (bopd) Brazil Africa 26 Europe Asia 200,000 4 EMA Forecast (Best case) (Brazil includes Petrobras…
  11. 2014 Financial Results Analysts Presentation – Modec – slide 11
    FY2014: Market Review Oil Price (WTI) & Number of FPSO Awards MODEC FPSO awards Total FPSO awards EMA Forecast (Best case) EMA Number of units Oil price USD/bbl Forecast range* 140 WTI scenario High case 80-110 30 Best case…
  12. 2014 Financial Results Analysts Presentation – Modec – slide 12
    FY2014: Market Review Oil Production Energy Demand Mb/d Mtoe 6.6 6.4 5,000 Oil 100 6.2 2.9 5.5 Coal 5.3 6.4 7.7 9.2 Unconventional 4,000 Gas 80 3.2 Tight oil (shale, oil sands) 24.3 24.8 25.1 25.3 25.3 Other unconventional oil…
  13. 2014 Financial Results Analysts Presentation – Modec – slide 13
    Prospective Projects UK FSO (EPCI + O&M) Norway TLP Europe North America Asia Africa & Pacific South Ghana America FPSO (TBD) TLP Angola FPSO (EPCI) FPSO (EPCI + O&M) Indonesia Brazil FPSO (EPCI + Charter) FPSO…
  14. 2014 Financial Results Analysts Presentation – Modec – slide 14
    Exchange Rate on Closing Dates (/) FY2015 : Outlook 2011 2012 2013 2014 2015(F) 77.74 86.56 105.37 120.56 110.00 Revenue Operating Profit (billion JPY) (billion JPY) 400 378.5 10 8.5 300.0 254.4 186.8 200 5 3.7 129.9 3.4…
  15. 2014 Financial Results Analysts Presentation – Modec – slide 15
    2014 Full-Year Highlight Market Review & Outlook Financial Results 15
  16. 2014 Financial Results Analysts Presentation – Modec – slide 16
    Profit & Loss 2013 2014 Variance (million JPY) Revenue 254,401 378,523 124,122 - EPCI projects progressed well - Gross profit increased due to higher POC achieved Gross Profit 16,713 21,958 5,245 in EPCI projects - Costs incurred…
  17. 2014 Financial Results Analysts Presentation – Modec – slide 17
    Revenue Revenue Project Timeline EPCI Period Time Charter Period (billion JPY) 400 378.5 MV29 300 254.4 MV27 200 186.8 MV25 146.6 129.9 100 MV26 MV24 0 2010 2011 2012 2013 2014 2011 2012 2013 2014 2015 2016…
  18. 2014 Financial Results Analysts Presentation – Modec – slide 18
    Ordinary Profit Ordinary Profit Influence of Deferred Profits Ordinary Profit Deferred Realized Balance Ordinary Profit before Deferred Profits Adjustment (billion JPY) (billion JPY) 2010 2011 2012 2013 2014 25 20 22.6 16.2…
  19. 2014 Financial Results Analysts Presentation – Modec – slide 19
    New Orders & Order Backlogs New Orders Order Backlogs Order Backlogs Equity Method Portion (billion JPY) (billion JPY) 987.9 600 1,000 896.6 518.4 543.6 500 395.7 359.3 400 229.9 342.6 277.7 0 2010 2011 2012 2013…
  20. 2014 Financial Results Analysts Presentation – Modec – slide 20
    Balance Sheet 2013 2014 Variance (million JPY) Short-term Loans Receivable - 41,008 41,008 Total Assets: - Accounts receivable temporarily increased in Total Current Assets 120,889 259,992 139,103 accordance with EPCI progress -…
  21. 2014 Financial Results Analysts Presentation – Modec – slide 21
    Cash Flow Cash Flow Cash Flow from Operating Activities Cash Flow from Investing Activities Cash Flow from Financing Activities (billion JPY) 2010 2011 2012 2013 2014 30 22.8 Increased due to 21.4 increase in Increased due to…
  22. 2014 Financial Results Analysts Presentation – Modec – slide 22
    Key Financial Figures Operating Profit & EBITDA Interest-Bearing Debt Operating profit (equity method portion) Total interest-bearing debt (after adjustment) EBITDA (after adjustment) Total interest-bearing debt/EBITDA EBITDA…

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