Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q2 2020 Earnings Presentation
14 slides from Bumi Armada Bhd's earnings presentation, 2020
Slide 1: Bumi Armada Berhad Q2 2020 Financial Results
Bumi Armada Berhad Q2 2020 Financial Results 1
Slide 2: Safety Performance
Bumi Armada Q2 2020 Safety Performance Zero Lost-Time Injuries in Q2 2020 Key milestones achieved: • Armada TGT1 - 9-years LTI free. • Armada Sterling - 7-years LTI free. • Armada LNG Mediterrana - 3-years LTI free. COVID-19 update: • Safety protocols remain in place for on-shore and off-shore opera
Slide 3: FPO Performance
Bumi Armada Q2 2020 FPO Performance Revenue (RM) Segmental Results (RM) 521.2 mil 345.0 mil • Excellent front-line performance despite the challenges of operating under the COVID-19 restrictions • New milestones for Zero-LTI performances across the fleet, including 9-years of LTI-free operations for
Slide 4: OMS Performance
Bumi Armada Q2 2020 OMS Performance Revenue (RM) Segmental Results (RM) 85.6 mil 13.9 mil • Strong operational safety discipline maintained across the OMS fleet • Slight decline in utilisation in Q2 versus Q1 • Expect to see clients delay or postpone spending which will further impact the sector • N
Slide 5: Financial Performance
Financial Performance BE BUMIARMADA °
Slide 6: Financial performance over time
Financial performance over time (All amounts shown are in RM’ mil) Financial performance over time Revenue Operating profit before impairment (2) FPO OMS 85.6 92.0 74.0 90.5 66.0 96.1 253.3 241.3 245.7 201.3 521.2 172.4 425.6 443.6 453.9 419.5 462.1 150.5 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2
Slide 7: Key takeaways
Key takeaways • Revenue in Q2 2020 increased by 9.8% to RM606.8 million compared to Q1 2020 • Q2 2020 versus Q1 2020 FPO revenue increased by 12.8% to RM521.2 million OMS revenue decreased by 5.4% to RM85.6 million Operating profit before impairment improved to RM246.6 million Group reports
Slide 8: Results Overview – Q2 2020 vs. Q1 2020 (RM'm)
Results Overview – Q2 2020 vs. Q1 2020 (RM’m) Revenue Segment results FPO OMS FPO OMS 606.8 361.3 552.6 358.9 + 10% 85.6 6.9 90.5 13.9 - 1% 462.1 521.2 354.4 345.0 Q1 2020 Q2 2020 Q1 2020 Q2 2020 FPO : • Revenue increased mainly due to improved vessel availability for Armada Kraken FPSO. • Segment r
Slide 9: Results Overview – Q2 2020 vs. Q1 2020 (RM'm)
Results Overview – Q2 2020 vs. Q1 2020 (RM’m) Operating profit Net profit (1) before impairment (2) before impairment (2) + 2% + 33% 246.6 119.8 241.9 90.4 Q1 2020 Q2 2020 Q1 2020 Q2 2020 • Increased operating profit mainly due to higher revenue from Armada Kraken FPSO and foreign exchange gains ari
Slide 10: Order book as at June 2020
Order book as at 30 June 2020 As at 30 June 2020, the Group’s firm order book stood at RM17.2 billion. Upon expiration of the firm contract period, certain contracts contain extension options which are renewable on an annual basis with a total potential value of RM10.1 billion over the entire option
Slide 11: Outlook
Outlook iS va BUMIARMADA BP 11
Slide 12: Outlook
Bumi Armada Q2 2020 Outlook With the current uncertainty in the offshore O&G sector, BAB will continue to take a prudent approach toward the business. The focus will remain on: • Safety • Performance across the fleet • Reducing costs and debt • Charters for the OMS vessels • Asset monetisation. 12
Slide 13: Forward Looking Disclaimer
Bumi Armada Q2 2020 Forward Looking Disclaimer This presentation may contain statements of future expectations and other forward-looking statements based on management’s and/or other information providers’ current views and assumptions and involve known and unknown risks and uncertainties that could
Slide 14: Q&A
Q&A iS va BUMIARMADA BP 14