Tidewater Inc. · NYSE:TDW
Tidewater — 2006 Lehman Brothers CEO Energy Conference
59 slides from Tidewater's conference presentation, Sep 11, 2006
Slide 1: 2006 Lehman Brothers CEO Energy Conference
September 5, 2006 Dean E. Taylor – Chairman, President & CEO J. Keith Lousteau – Chief Financial Officer, Executive Vice President & Treasurer Exhibit 99.1 2006 Lehman Brothers CEO Energy Conference
Slide 2: Forward-Looking Statements
TIDEWATER 601 Poydras Street, Suite 1900 New Orleans, LA 70130 Phone: 504.568.1010 Fax: 504.566.4580 Web site address: www.tdw.com Email: connect@tdw.com In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company notes that certain statements s
Slide 3: Our Workplace
Our Workplace
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Slide 7: Lost Time Accidents by Fiscal Year
18 10 8 9 5 5 4 1 1 0 4 8 12 16 20 1998 1999 2000 2001 2002 2003 2004 2005 2006 Lost Time Accidents Fiscal Years
Slide 8: Total Recordable Incident Rates
Total Recordable Incident Rates Calendar Years 1.5 0 0.5 1 2001 2002 2003 2004 2005 TIDEWATER DOW CHEMICAL DUPONT EXXON/MOBIL BP “Safest Company In The Industry”
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Slide 12: Tidewater Highlights
Largest new fleet in the industry … and counting Second highest dividend yield of the OSX (One of the) strongest balance sheets of the OSX Repurchasing common shares International, International, International …. also Gulf of Mexico. First call consensus earnings FYE ’07: $ 5.28 Tidewater
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Slide 16: Favorable Market Drivers
Favorable commodity prices E&P spending up Rig count up New rig construction Strong demand in virtually all areas of operation Growing financial effect of “new” fleet Favorable tax changes … And Also
Slide 17: A Strong Global Presence
Active Vessel Count By Region (excludes stacked vessels) North America 64 (17%) Central/ South America 96 (26%) West Africa 121 (33%) Europe/M.E. 39 (11%) Far East 48 (13%) Vessel count above includes only active vessels A Strong Global Presence
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Slide 19: International Dayrate
DAYRATE NOILYVZITLA
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Slide 22: Dayrates and Utilization: International Vessel
Dayrates and Utilization $100 change in dayrate = $9.6M in revenue 1% change in utilization = $9.3M in revenue 6/03 9/03 12/03 3/04 6/04 9/04 12/04 3/05 6/05 9/05 12/05 3/06 6/06 International Vessel 40% 50% 60% 70% 80% $5,000 $5,500 $6,000 $6,500 $7,000 $7,500 $8,000
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Slide 26: International Dayrates
$3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 $10,000 $11,000 $12,000 $13,000 6/03 9/03 12/03 3/04 6/04 9/04 12/04 3/05 6/05 9/05 12/05 3/06 6/06 International Dayrates New Vessels Remaining Vessels
Slide 27: Domestic Dayrate
DAYRATE NOILVZIMILN
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Slide 30: Dayrates and Utilization: Domestic Vessel
Dayrates and Utilization $100 change in dayrate = $2.2M in revenue 1% change in utilization = $2.0M in revenue 6/03 9/03 12/03 3/04 6/04 9/04 12/04 3/05 6/05 9/05 12/05 3/06 6/06 Domestic Vessel 20% 30% 40% 50% 60% 70% 80% $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 $10,000 $11,000 $12,000
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L
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Slide 34: Domestic Dayrates
$3,000 $5,000 $7,000 $9,000 $11,000 $13,000 $15,000 6/03 9/03 12/03 3/04 6/04 9/04 12/04 3/05 6/05 9/05 12/05 3/06 6/06 Domestic Dayrates New Vessels Remaining Vessels
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Slide 36: Vessel Commitments Post January 2000
143 $1,771m 53 $200m 44 $699m 46 $872m 52 18 1 33 52 35 17 39 26 13 Vessel Commitments Post January 2000 Through 6/30/06 “$1,395 funded to date” (1) Includes vessels added to the fleet financed by bareboat charter. * Excludes ENSCO fleet acquisition effected April 1, 2003 TOTALS: (1) Vessels $ Commi
Slide 37: Fleet Age and Profit Contribution
44% 5 101 0% 0 56% 24 257 100% 19 509 Fiscal 2006 Profit Contribution Average Age Vessel Count Profit Contribution Average Age Vessel Count Vessels built or acquired since January 2000 Vessels built prior to January 2000 Fiscal 2000 Fleet Age And Profit Contribution * New vessel contribution for Fis
Slide 38: And Counting (Present Order Book)
18 5 5 28 … And Counting (Present Order Book) AHTS PSV’s Crewboats & Tugs Total Present Order Book
Slide 39: A Rapid and Orderly Transition
* New vessels added to the fleet since January 2000, including 29 vessels under construction * Since 4/01/05, 19 vessels have been scrapped and 51 have been sold Out With the Old---In With the New (last 7 years) 0 100 200 300 400 258 Sold 62 Scrapped 320 406 143 New Vessels A Rapid and Orderly Trans
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Slide 42: Financial Strength
Financial Strength Striving to Achieve Financial Balance
Slide 43: Fiscal 2006 Financial Highlights
$1,659,121 $172,408 $283,578 $4.07 $235,756 $877,617 $1,637,798 $40,108 $98,337 $1.23 $71,449 $269,820 Stockholders’ Equity Capital Expenditures Net Cash from Operations Earnings Per Share Net Earnings Revenues (000’s omitted, except per share data) FISCAL 2006 FINANCIAL HIGHLIGHTS FYE 3/31/06 QTR 6
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1 | NT tM i
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Slide 48: Earnings Growth Over The Last Year
1.23 259 120 (1) Exclusive of $42.8 million after tax gain ($.74 per share) resulting from the sale of six KMAR 404 vessels in July 2005 1.04 60 228 103 51 177 12/31/05 Qtr .50 29 185 106 35 150 6/30/06 Qtr .68 39 198 106 41 157 9/30/05 Qtr 1.11 65 236 116 3/31/06 Qtr 54 182 71 06/30/06 Qtr 62 197 (
Slide 49: Current OSX Dividend Yields
0.8% 0.7% 0.7% 1.8% 0.5% 0.7% 0 0.5 1 1.5 2 Schlumberger Halliburton Baker Hughes Global Santa Fe BJ Services Smith International 0.2% Noble Corp 0.2% Rowan Current OSX Dividend Yields 1.2% Tidewater
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Slide 53: EPS, Active New Vessels and Fleet Age
Fiscal 2000 2004 2005 2006 2007 2008 E.P.S. 1.37 .73 $1.78 $3.33 (4) $5.28 (1) $5.79 (1) Active New Vessels (2) --- 66 95 101 108 122 New Vessel Profit Contribution --- 24% 30% 44% --- --- Fleet Average Age (years) (3) 19 19 20 20 18.4 18.6 (1) First Call consensus estimates as of August 7, 2006, wh
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Slide 57: Our Strategy - Steady as she goes
Seek the right acquisition(s) at the right price– whole fleets or individual vessels Continue to renew the fleet in a disciplined way Maintain and grow market share – Domestic and International Continue to push dayrates to grow profits and cash flow Continue to Add Incremental Value (Implementation
Slide 58: Celebrating our Anniversary at NYSE
Celebrating our 50 th Anniversary at NYSE
Slide 59: 2006 Lehman Brothers CEO Energy Conference
September 5, 2006 2006 Lehman Brothers CEO Energy Conference
Tidewater — 2006 Lehman Brothers CEO Energy Conference on 6ix