Ocean Yield ASA — Pareto Oil and Offshore Conference 2013
9 slides from Ocean Yield ASA's conference presentation, Sep 5, 2013
Slide 1: Pareto Oil and Offshore Conference
Pareto Oil and Offshore Conference Company Presentation 5 September 2013
Slide 2: Ocean Yield
Ocean Yield Established by Aker ASA in Q1 2012 with an attractive portfolio of oil service assets with long term charters Ocean Yield has thereafter invested about USD 650 million in five vessels Target of about USD 350 million in annual new investments Ocean Yield raised ~USD 150 million in new equ
Slide 3: Attractive and diversified portfolio of oil service and industrial shipping assets
Attractive and diversified portfolio of oil service and industrial shipping assets Initial asset base… …and USD 650 million in recent acquisitions FPSO Subsea vessel Lewek Connector Dhirubhai 1 Subsea construction 2 x AHTS vessel FAR Senator Wayfarer FAR Statesman Seismic vessel 2 x car carrier 6500
Slide 4: USD 1.6 billion in contracted EBITDA with average charter tenor of 7.3 years
USD 1.6 billion in contracted EBITDA with average charter tenor of 7.3 years Firm period Unit Counterparty Contract type 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 ends Dhirubhai‐1 Reliance Bareboat / O&M Sep‐18 Wayfarer Aker Solutions Bareboat Sep‐20 Lewek Connector EMAS/
Slide 5: Growth strategy: Target ~USD 350 million in annual investments
Growth strategy Target ~USD 350 million in annual investments Modern assets Target Oil service assets Industrial shipping Solid counterparties Chartering Bareboat charters 5–15 years tenor, current avg. 7.3 years Bank debt on project basis ~70% Financing Equity ~30% September 13 Company presentation
Slide 6: Sale-leaseback – an attractive financing source
Sale-leaseback – an attractive financing source 5-15 years funding at fixed interest rate Off balance sheet financing at competitive cost of capital Attractive funding Enables growth without dilution for current shareholders source for growth Diversification of funding sources Purchase options Sale
Slide 7: Development in key financials
Development in key financials EBITDA per quarter (USDm) Dividend Yield +30% 48.8 50.6 38.8 38.1 39.4 10.3%** p.a Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013* Net profit per quarter (USDm) Ambition for 2013 dividend per share +70% 19.9 17.1 11.7 12.1 11.3 0.46 USD Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Slide 8: Ocean Yield - Summary
Ocean Yield - Summary Attractive and growing dividends – currently 10.3% p.a. dividend yield at conservative payout ratio USD 1.6 billion in contracted EBITDA provides stability and visibility in future earnings and dividend capacity from current portfolio With the proceeds from the IPO Ocean Yield
Slide 9: Slide 9
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