Built for success, positioned for growth Fourth Quarter 2014 Conference Call February 17, 2015
Presentation Outline Executive Summary (pg. 4) Operational Highlights by Segment (pg. 8) Key Balance Sheet Metrics (pg. 13) 2015 Outlook (pg. 16) Non-GAAP Reconciliations (pg. 22) Questions & Answers Work class ROV XLX…
Executive Summary Built for success, positioned for growth 4 Q5000 under construction in Singapore
Executive Summary ( in millions, except per share data) Three Months Ended Year Ended 12/31/2014 12/31/2013 9/30/2014 12/31/2014 12/31/2013 Revenues 207 227 341 1,107 877 Gross profit: 33 71 126 344 261 16% 31% 37% 31% 30% Net…
Executive Summary Q4 2014 earnings per diluted share of 0.08 per diluted share compared to 0.71 per diluted share in Q3 2014 67% utilization of well intervention vessels in the fourth quarter Q4000 at 86% utilization for Q4…
Executive Summary Balance sheet Liquidity* of 1.1 billion at 12/31/2014 Cash and cash equivalents totaled 476 million at 12/31/2014 Net debt of 75 million at 12/31/2014 See updated debt maturity profile on slide 14 We define…
Operational Highlights Built for success, positioned for growth 8
Business Segment Results ( in millions) 67% utilization for the well intervention fleet Three Months Ended Skandi Constructor completes 12/31/2014 12/31/2013 9/30/2014 regulatory dry dock; Seawell enters dry dock in December…
Well Intervention Gulf of Mexico Q4000 was 86% utilized during Q4 due to mechanical problems with its intervention riser system; the vessel also worked at reduced rates while making minor repairs as a result of being struck by a…
Robotics 79% chartered vessel fleet utilization in Q4 61 days utilized on spot vessels 73% utilization for ROVs, trenchers and ROVDrill Olympic Canyon fully utilized in India during Q4 REM Installer transited to the GOM in October…
Utilization 100% 97% 94% 90% 88% 81% 79% 80% 73% 69% 67% 60% Q4 2014 Q3 2014 40% Q4 2013 20% 0% Well Intervention Vessels ROV and Trencher Support Vessels ROVs and Trenchers Seawell Olympic Canyon (1) 50 ROVs…
Key Balance Sheet Metrics Built for success, positioned for growth 13
Debt Instrument Profile Total funded debt of 572 million at end of Q4 2014: Debt Instrument Profile at 12/31/2014 ( amounts in millions) 200 million Convertible Senior Notes 3.25% (A) (179 million net of unamortized debt discount)…
2015 Outlook Built for success, positioned for growth 16
2015 Outlook 2014 in Review 2014 was an outstanding year for Helix, exceeding our own expectations with 378 million of EBITDA Both the Well Intervention and Robotics business segments posted record results Excluding one-time items…
2015 Outlook Moving Ahead to 2015 contd Lower oil prices will reduce our tolling revenues from the Production Facilities business by an estimated 10 million Q5000 expected to be completed in Q1 and available for service in Q3 of…
2015 Outlook Total backlog as of December 31, 2014 was approximately 2.3 billion, of which approximately 2.1 billion is associated with our Well Intervention and Robotics businesses(1) Both the Q4000 (excluding dry dock) and the Well…
2015 Outlook Robotics market impacted by the same macro conditions impacting energy markets; record 2014 unlikely to be matched in 2015 Olympic Canyon to continue operations offshore India under firm commitment through June, with two…
2015 Outlook Capex 2015 capex budget of approximately 400 million consisting of the following(1): 305 million in growth capital; primarily for newbuilds currently underway, including: 170 million for Q5000 (includes 15 million…
Non-GAAP Reconciliations Built for success, positioned for growth 22
Non-GAAP Reconciliations ( in millions) Three Months Ended Year Ended 12/31/2014 12/31/2013 9/30/2014 12/31/2014 12/31/2013 Net income from continuing operations 8 37 76 196 112 Adjustments: Income tax provision (benefit) (1) 16 30…
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