Earnings Presentation Fourth Quarter 2014 CEO Terje Sorensen 2 March 2015
Highlights Fourth Quarter 2014 Result and Finance Fourth quarter 2014 operating revenue of USD 137.7 million and operating margin of USD 59.7 million (43%), an increase from USD 95.0 million and USD 27.2 million (29%) in fourth…
Highlights Fourth Quarter 2014 Vessel deliveries and contracts The PSV Siem Symphony was delivered from a Norwegian yard in November and commenced a four year contract with Total E&P Norge AS. The OSRV Siem Maragogi was delivered…
Subsequent Events Petrobras informed in January that the current contracts for four AHTS vessels employed in Brazil will not be extended following contract expiry during February 2015. Petrobras took similar actions against all owners…
Comments to Fourth Quarter Income Statement 100% utilisation of the OSCV fleet. 6 vessels in operation at the end of the quarter. All vessels on long-term charters. 94% utilisation of the PSV fleet. 11 of the vessels on medium to…
Adjusted Net Profit Fourth Quarter Twelve Months Ended 2014 2013 2014 2013 Amounts in USD million Unaudited Unaudited Unaudited Audited Net Profit (loss) 15.5 (3.7) 70.7 21.5 Unrealized (profit) loss on currency derivatives 5.4…
Financial Position and Cash Flow
Statement of Financial Position 31.12.2014 31.12.2013 Amounts in USD million Unaudited Audited Intangible assets 25.9 29.7 Vessels under construction 130.5 127.7 Vessels, equipment and capitalized project costs 1 754.7 1 451.4 CIRR…
Consolidated Statements of Cash Flows 01.01.2014 - 01.01.2013 - 31.12.2014 31.12.2013 Cash flow from operations Unaudited Audited Profit before taxes, excluding interest 117.7 49.2 Interest paid (46.4) (32.3) Depreciation and…
Scheduled Debt Maturity Profile 2015 - 2019 Comments: 1. The graph reflects committed and assumed mortgage debt for all 8 vessels(1) under construction per end of 4Q 14. 2. Gross debt expected to peak in 2016 based on existing…
Future Yard Instalments per end 4Q 2014 Amounts in USD million Future Yard Instalments 2015 2016 Total The Company has secured mortgage debt financing for all of its eight wholly-owned OSRVs 10.3 0.0 10.3 vessels currently under…
Future Yard Instalments and Debt Financing - For 2015 and 2016 Total financing gap for the years 2015 and 2016 of approx. USD 65 million Comments: 1. The graph reflects; i) future yard instalments for the 8 wholly-owned vessels…
Siem Offshore Contractors - Submarine power cable activities by main projects Amrumbank West OWF Baltic 2 OWF Nordsee One Nordsee One OWF Awarded Mar, 2012 Feb, 2013 Dec, 2012 Apr, 2014 Installation of 86 Installation of 86…
Siem WIS The managed pressure drilling (MPD) operation onboard Mrsk Gallant commenced late October 2014 and was completed mid-January 2015. The pressure control device (PCD) is demobilised due to rig move and will be mobilised again…
Employment and Deliveries Vessels in Operation and Shipbuilding Contracts
Fleet in Operation - Currently 46 Vessels in Operation Vessels in operation 101) AHTS Vessels 6 OSCV 122) PSV (3,600 5,100 dwt) 18 Other vessels Scientific Core Drilling Vessel 1 5) Canadian Other fleet vessels 64) 10…
Employment Vessels in operation 2015 2016 2017 2018 1) Employment for Siddis Mariner includes firm time Vessel Type Ownership 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q charter for Siem Offshore Contractors. Siem Sasha PSV 100 %…
Employment Vessels in operation (cont.) 2015 2016 2017 2018 Vessel Type Ownership 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Big Orange XVIII WSV 41 % Joides Resolution SPV 100 % Burin Sea AHTS 50% Panuke Sea PSV 50% Ryan Leet…
Vessels under Construction - 9 Vessels to be Delivered Next 2 Years, including one vessel in Secunda 2015 2016 2017 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q OSRV, Siem Marataizes CLV, Siem Aimery PSV DF, Siem Pride PSV DF, TBN…
Market Outlook Summary The fourth quarter started with high activity in the North Sea for the AHTS vessels. During November, the activity level for AHTS vessels in the North Sea was reduced and it was further reduced during December…
Loading...
