Slide 1: Presentation 4th Quarter 2013
Presentation 4th Quarter 2013 Oslo 27.02.2013 CEO Jan Fredrik Meling
Slide 2: News after 31.12.2013
News after 31.12.2013 • Lundin Petroleum hires “Viking Queen” for 15 wells with option for further 5 wells. Commencement of contract is ultimo 2014. The vessel will be upgraded with FI-FI II and NOFO 2009
Slide 3: 4th Quarter 2013 results
4th Quarter 2013 results (4th Quarter 2012 in brackets) Revenues MNOK 237,9 (223,7) EBITDA: MNOK 135,2 (121,9) Operating profit MNOK 81,0 (44,0) Pre-tax profit: MNOK 35,0 (39,5)
Slide 4: Results 4th Quarter 2013
Results 4th Quarter 2013 (in million NOK, Gain on sale excluded) Operating revenues The results in 4th quarter compared to last 300 year are influenced of: 250 -Viking Forcados was sold in Q3 2013 200 -Viking Poseidon commenced yard stay in 150 December 2013 100 -Viking Athene and Viking Lady was op
Slide 5: Cash flow (in million NOK)
Cash flow (in million NOK) 4th Quarter 4th Quarter 2013 2012 2013 2012 Net cashflow from operating activities 129,4 165,6 483,0 491,4 Net cashflow from investment activities (64,6) (127,0) 110,7 (738,3) Net cashflow from finance activities (89,1) (37,9) (265,9) 290,3 Net changes in cash holdings (24
Slide 6: Balance
Balance (in million NOK) 6 000 Short-term liab. Current Assets Short-term liab. Current assets 5 000 4 000 Long-term liabilities Long-term liabilities 3 000 Fixed assets Fixed assets 2 000 1 000 Equity Equity 0 Assets 31.12.13 Equity and Assets 31.12.12 Equity and Liabilities Liabilities 31.12.13 31
Slide 7: Segments
Segments Incl. Share of Joint Ventures Excluded gain on sale (MNOK) 4th Quarter 2013 Seismic Subsea Supply Other Revenues 70,1 96,5 113,8 7,2 Revenues Q4 2013 EBITDA 67,7 50,4 54,5 -2,7 EBIT 39,3 22,7 22,1 -3,3 EBITDA margin 97% 52% 48% N/A EBIT margin 56% 23% 19% N/A 4th Quarter 2012 Seismic Subsea
Slide 8: Results 2013
Results 2013 (in million NOK) Operating revenues Profit adj. for agio and financial instrument revaluation 1 050 250 850 200 650 150 450 250 100 50 50 2011 2012 2013 2011 2012 2013 Operating revenues Gain on Sale EBITDA EBIT 600 400 500 300 400 300 200 200 100 100 0 0 2011 2012 2013 2011 2012 2013
Slide 9: Contract backlog (per 31.12.2013)
Contract backlog (per 31.12.2013) 9
Slide 10: Contract status seismic
Contract status seismic Viking Vanquish Viking Vision Veritas Viking Viking 2 Veritas Vantage Geo Searcher Oceanic Vega Oceanic Sirius 2014 2015 2016 2017 2018
Slide 11: Contract status subsea
Contract status subsea Subsea Viking Acergy Viking Viking Poseidon European Supporter Seven Viking Kleven no 365 2014 2015 2016 2017 2018
Slide 12: Contract status supply
Contract status supply Viking Queen Viking Lady Viking Athene Viking Energy Viking Avant Viking Nereus Viking Prince Viking Princess 2014 2015 2016 2017 2018
Slide 13: Operations 1st Quarter 2014
Operations 1st Quarter 2014 • Viking Poseidon commenced a yard stay due to crane issues in December 2013, and is expected to be off-hire for several weeks in 1st Quarter 2014. • Viking Queen will be off-hire for 3-4 weeks during 1st Quarter 2014 due to fire repair. • Estimated P&L-effect of these tw
Slide 14: Market
Market • The Board expects that the market for platform supply vessels in the North-Sea will be healthy in 2014. This as a result of seasonal project work that will absorb vessels in addition to general high activity. • • The global subsea market is expected to remain strong with substantial activit
Slide 15: Thanks for Your attention!
<> Eidesvik Thanks for Your attention! Your Partner in Shipping