Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q1 2022 Earnings Presentation
16 slides from Bumi Armada Bhd's earnings presentation, May 2022
Slide 1: Bumi Armada Berhad Financial Results Q1 2022
Bumi Armada Berhad Financial Results Q1 2022
Slide 2: Disclaimer
Disclaimer The information contained in this presentation (“Presentation”) has been produced by or on behalf of Company exclusively for information purposes only. The Presentation is private and confidential and is to be used solely by the recipient for its own information only and shall not be redi
Slide 3: Health, Safety and Environment
Bumi Armada Q1 2022 Health, Safety and Environment Key HSE Milestone Achievements Armada TGT 1 FSU Armada LNG Mediterrana 10 years LTI free 4 years LTI free Armada Sterling Karapan Armada Sterling III 8 years LTI free 4 years LTI free Armada Sterling II Armada Olombendo 6 years LTI free <1 year LTI
Slide 4: Key Operations Update
Bumi Armada Q1 2022 Key Operations Update Armada Kraken Armada TGT • 5 yearly class survey • Special survey (ABS Class) • Subsea changeout of DC2 CITV A • GTG A returned to service with high and B and completion of CITV pressure compressor bundle calibration repaired and installed (Jan-22) Armada LN
Slide 5: Key Highlights
Bumi Armada Q1 2022 Key Highlights FPSOs and FSU FPSOs and FSU Average Uptime Q2 2021 Q3 2021 Q4 2021 Q1 2022 Owned Units* (4) 99% 99% 98% 99% JV Units (3) 100% 100% 100% 100% * Excludes Armada Claire • COVID challenges being managed across the fleet – small outbreaks onboard various operating units
Slide 6: Financial Performance
Financial Performance Wy » Ya BUMIARMADA BP
Slide 7: Q1 2022 Key Takeaways
Q1 2022 Key Takeaways Q1 2022 (versus Q4 2021) (all numbers are from continuing operations unless stated otherwise) RM529m (RM513m) RM256m (RM201m) RM186m (RM147m) +3% +27% +27% Revenue Operating profit Net profit (1) before impairment (2) after impairment (2) Reorganisation of segments from 1 Janua
Slide 8: Results Overview – Q1 2022 vs. Q4 2021
Results Overview – Q1 2022 vs. Q4 2021 RM'm Q4 2021 Q1 2022 Continuing operations Revenue due to higher vessel availability for Revenue 513.1 529.0 Armada Kraken FPSO. Operating expenses (exclude depreciation) (209.1) (203.3) Depreciation (113.2) (83.3) Operating expenses (exclude depreciation) redu
Slide 9: Cash Balance – Q1 2022
Cash Balance – Q1 2022 (All amounts shown are in RM’m) Cash Balance - Q1 2022 17 12 447 138 298 843 102 759 1 Jan 2022 Cash from Net proceeds Proceeds from Others including Repayment of Interest paid 31 Mar 2022 Cash balance operations from disposal of disposal of PPE FX borrowings Cash balance subs
Slide 10: Financial Performance Over Time
Financial Performance Over Time (All amounts shown are in RM’m) Revenue Operating Profit before Impairment (2) Operations Others 37.8 1.7 6.9 33.6 31.9 275.2 274.6 256.1 226.4 201.3 554.1 506.2 511.3 522.1 486.0 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Net prof
Slide 11: Leverage Reducing Over Time
Leverage Reducing Over Time (All amounts shown are in RM’m) Debt Gearing Net Debt Cash Debt to Equity Net Debt to EBITDA 10.50 9.73 9.95 960 850 923 895 975 876 6.38 910 795 759 4.75 4.69 4.27 4.00 3.86 8,749 8,503 7,939 7,412 7,166 6,903 6,486 6,123 5,741 3.27 3.09 2.90 2.66 2.38 2.18 1.96 1.76 1.5
Slide 12: Order Book as at 31 March 2022
Order Book as at 31 March 2022 Order book as at 31 March 2022 ➢ 82% order book from wholly-owned FPO units Firm contract RM10.6 bil RM2.3 bil period order book ➢ Robust firm order book of RM13.2b ➢ Certain contracts contain extension Optional extension options beyond firm contract period period orde
Slide 13: Outlook
Outlook Wy » Ya BUMIARMADA BP
Slide 14: Outlook
Outlook The strong oil price augurs well for the oil and gas sector, which has witnessed increased activities across the entire value chain, including the floating offshore solutions segment. We expect our existing business to be stable for the rest of 2022. We are pursuing new opportunities in targ
Slide 15: Q&A
Q&A » BUMIARMADA
Slide 16: Thank You
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