EURASIA DRILLING COMPANY LTD 2014FY Results April, 2015 1
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EDC at a glance The largest drilling company in Russia and the CIS 2014 Change EDC at a glance Revenues US 2,975mln -14.5% EBITDA margin 28.0% +1.0pp Record EBITDA CAPEX US 530 mln +4.3% margin Market Operating Statistics…
Geographic presence EDC at a glance Market 2014 Results Operations 261 Land drilling and sidetracking rigs 431 Workover rigs Financial performance 3 Offshore rigs 5
Russias oil industry Russian oil production Russian oil production by region(1) Oil prices backdrop has 20 22 22 22 23 4% 5% 5% 5% 4% 5% been supportive for 19 5% 5% 6% 6% 5% 5% EDC at a 15 15 17 5% 8% 8% drilling activity over…
Drilling market dynamics Onshore well construction & servicing market, bn Drilling volumes in Russia, mn m CAGR +8% CAGR+3% 19.4 Russian drilling industry 19.1 22.6 22.6 23.0 24.1 EDC at a glance 16.5 17.2 16.8 17.6 21.1 has…
2014 Results Financial highlights Top line revenue was US 2,975 million, 14.5% below revenue for the year ended December 31, 2013, in the amount of US 3,478 million; EDC at a glance Adjusted EBITDA was US 834 million, 11.3%…
2014 Results (continued) Operational highlights Drilled 5.669 million metres, a 9.5% decrease vs. 2013 with 6.264 million metres drilled; EDC at a glance Share of horizontal metres drilled out of total metres drilled increased…
Market structure Russias onshore drilling by footage, 2014 EDC market share dynamics EDC at a glance 29% 29% 27% 25% EDC, 27% 22% All others, 17% 38% Market 2005 : first 2007:IPO 2011 2012 2013 2014 Surgut NG, year of…
Operating performance Drilling volumes have shown strong growth over the past years due to winning new customers and increased existing customer activity, as well as a series of successful acquisitions. 2014 volumes decrease driven by…
Customer portfolio 2007 EDC customers 2014 EDC customers Others Rosneft 1% Rosneft EDC at a 8% 7% Others 8% glance Gazprom Neft 15% Gazprom Neft 22% LUKOIL 63% Market LUKOIL 76% 2014 Well Results balanced Mostly…
Rig fleet EDC drilling rig fleet Rig fleet by age 100-125 T 160-175 T 200-225 T 250-270 T 320-400 T 450…
Offshore assets Quality EDC assets assets in ASTRA Caspian Sea jack-up market tight market BMC-150-H jack-up rig Approx. 3% of world oil reserves 150 ft. (45 m) water depth 5 jack-up rigs currently in operation EDC at a 15,000…
Capital expenditures apex, mn Capex/revenues EDCs fleet modernisation programme: 21% 16% 8% 16% 14% 19% 15% 18% 1. Refurbishment of Medium Pad/Cluster rigs EDC at a glance Workhorses of West Siberia far into the future Focus…
Debt profile (31-Dec-2014) Leverage dynamics Debt structure Total debt, mn 1,114 1,114 1,140 1,119 Net debt, mn Local banks / bonds / other 23% 71% 6% EDC at a 753 753 700700 glance 541 792 Unsecured / secured 77% 23% 404 284…
Key strategic focus Maintain leadership position as the largest provider of onshore drilling services Organic growth and in Russia and operator of the largest jack-up fleet in key sectors of the Caspian Sea selective acquisitions…
Appendices 19
Balance sheet 31 Dec 2007 31 Dec 2008 31 Dec 2009 31 Dec 2010 31 Dec 2011 31 Dec 2012 30 Jun 2013 31 Dec 2013 31 Dec 2014 audited audited audited audited audited audited reviewed audited audited ASSETS Current assets Cash and cash…
Income statement 2007 2008 2009 2010 2011 2012 2013 2014 audited audited audited audited audited audited audited audited REVENUES Drilling and related services 1,468,047 2,071,683 1,362,222 1,808,905 2,734,444 3,222,830 3,473,555…
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