Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q1 2021 Earnings Presentation
15 slides from Bumi Armada Bhd's earnings presentation, May 2021
Slide 1: Bumi Armada Berhad Q1 2021 Financial Results
Bumi Armada Berhad Q1 2021 Financial Results
Slide 2: Safety
Bumi Armada Q1 2021 Safety Zero Lost Time Injuries (“LTI”) as of Q1 2021 across the Group. Key Safety Milestone Achievements • Armada TGT 1 - 9 years LTI free • Armada Olombendo FPSO - 4 years LTI free • FSU Armada LNG Mediterrana - 4 year LTI free • Armada Kraken - 2 years LTI free • Armada Sterlin
Slide 3: FPO Performance
Bumi Armada Q1 2021 FPO Performance Revenue (RM) Segment Results (RM) Average Uptime Q2 2020 Q3 2020 Q4 2020 Q1 2021 Owned Units* (4) 98% 99% 99% 98% 495.1 mil 355.7 mil JV Units (3) 99% 100% 98% 99% * Excludes Armada Claire • Solid Q1 performance with challenges of COVID-19 being managed. • Armada
Slide 4: OMS Performance
Bumi Armada Q1 2021 OMS Performance Revenue (RM) Segment Results (RM) Utilisation Q2 2020 Q3 2020 Q4 2020 Q1 2021 OSV Fleet 55% 56% 49% 44% 67.6 mil 12.5 mil • Lower OMS revenue because of lower OSV utilisation in Q1 2021 vs Q4 2020, due to the monsoon season and preparation for delivery of vessels
Slide 5: Financial Performance
Financial Performance i Ae BUMIARMADA WA
Slide 6: Key Takeaways
Key Takeaways • Q1 2021 versus Q4 2020 ➢ Revenue 9% to RM563m. ➢ Gross profit 10% to RM250m. ➢ FPO revenue 7% to RM495m. ➢ OMS revenue 20% to RM68m. ➢ No impairment in Q1 2021. Gain on sale of vessels RM7m. ➢ Operating profit before impairment (2) 30% to RM278m. ➢ Group net profit (1) before impairm
Slide 7: Financial Performance Over Time
Financial Performance Over Time (All amounts shown are in RM’ mil) Revenue Operating Profit before Impairment (2) FPO OMS 85.6 84.0 90.5 93.9 67.6 92.0 74.0 96.1 66.0 278.2 248.6 241.9 246.6 521.2 532.0 222.1 214.6 462.1 470.5 495.1 201.3 425.6 443.6 453.9 419.5 167.0 150.5 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q
Slide 8: Results Overview – Q1 2021 vs. Q4 2020 (RM'm)
Results Overview – Q1 2021 vs. Q4 2020 (RM’m) Revenue Segment Results FPO OMS FPO OMS 616.0 368.2 562.7 84.0 12.5 - 9% 67.6 + 9% 336.4 25.6 532.0 495.1 355.7 310.8 Q4 2020 Q1 2021 Q4 2020 Q1 2021 FPO: • Revenue decreased mainly due to lower vessel availability for Armada Kraken FPSO. • Segment resul
Slide 9: Results Overview – Q1 2021 vs. Q4 2020 (RM'm)
Results Overview – Q1 2021 vs. Q4 2020 (RM’m) Operating Profit Net Profit (1) before Impairment (2) before Impairment (2) - 5% +30% 278.2 214.6 171.0 162.8 Q4 2020 Q1 2021 Q4 2020 Q1 2021 • Increased operating profit before impairment mainly due to higher other operating income and lower operating c
Slide 10: Order Book as at 31 March 2021
Order Book as at 31 March 2021 As at 31 March 2021, the Group’s firm order book stood at RM15.8b. 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 RM9.9b over the entire optional extension
Slide 11: Outlook
Outlook i Ae BUMIARMADA vi |
Slide 12: Outlook
Outlook Broad recovery of the global economy is expected in 2021, tempered by ongoing concerns on the COVID-19 pandemic. The Group expects the FPO business to be relatively stable in 2021, while the OMS business is anticipated to remain subdued. Ensure the safety of all employees, partners and Build
Slide 13: Forward Looking Disclaimer
Forward Looking Disclaimer This presentation may contain statements of future expectations an 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 cause actual results
Slide 14: Q&A
Q&A Ae BUMIARMADA vi |
Slide 15: S BUMIARMADA
S BUMIARMADA