Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q1 2024 Earnings Presentation
16 slides from Bumi Armada Bhd's earnings presentation, May 1, 2024
Slide 1: Bumi Armada Berhad Financial Results Q1 2024
Bumi Armada Berhad Financial Results Q1 2024
Slide 2: Q1 2024 Health, Safety & Environment
Q1 2024 Health, Safety & Environment Armada Sterling FSU Armada LNG Mediterrana 11 years LTI free 7 years LTI free Armada Sterling II Armada Kraken 9 years LTI free 2 years LTI free Karapan Armada Sterling III Armada Constructor 6 years LTI free 6 years LTI free Armada Olombendo Armada Installer 2 y
Slide 3: Q1 Corporate Social Responsibility
Q1 Corporate Social Responsibility • Awareness and Conservation of Threatened Species Program at SK Tunku Azizah, Pahang. A collaboration with Department of Fisheries Pahang. • ‘AGN GOES TO CAMPUS’ program. PT. Armada Gema Nusantara (AGN) in collaboration with Chemical Engineering Department, Univer
Slide 4: Q1 2024 Key Operations Update
Q1 2024 Key Operations Update Armada Kraken Armada Sterling V • Commenced Main Power Generator-1 36,000 hours service. • 2 offtakes carried out. • HSP oil system flushed and new cooler installed. • Preparing facility for final • Drone inspection of topsides structures acceptance. Armada TGT • Class
Slide 5: Q1 2024 Fleet Highlights
Q1 2024 Fleet Highlights FPSOs and FSU FPSOs and FSU Average Uptime Q1 2024 Owned Units* (4) 99.94% JV Units* (3) 100.00% * Excludes 98/2 vessel • Steady operational performance in Q1 2024. • Armada Sterling V First oil achieved on 7 January 2024. Awaiting Final Acceptance Test so charter may commen
Slide 6: Q1 2024 Financial Performance
Q1 2024 Financial Performance 6
Slide 7: Q1 2024 Key Takeaways
Q1 2024 Key Takeaways Q1 2024 (versus Q4 2023) RM636m (RM623m) -11% RM345m (RM386m) Profit RM241m +2% Revenue Operating profit before NA (Loss RM165m) impairment Net profit/(loss) attributable to Owners of the Company Net current liabilities position of RM1,151m: +29% RM272m (RM211m) • due to Suku
Slide 8: Results Overview – Q1 2024 vs. Q4 2023
Results Overview – Q1 2024 vs. Q4 2023 RM'm Q4 2023 Q1 2024 Revenue mainly due to finalisation of Daily Operating Revenue 623.0 635.5 Fee escalation with a charterer. Operating expenses (250.6) (307.1) Other operating income 13.9 16.9 Operating expenses mainly due to reversal of Operating profit bef
Slide 9: Cash Movement – Q1 2024
Cash Movement – Q1 2024 (All amounts shown are in RM’m) Cash Balance - Q1 2024 417 71 16 12 122 102 95 902 705 1 Jan 2024 Operating Receipts from Interest Others Repayment of Net change Interest paid 31 Mar 2024 Cash balance surplus JV (incl. received (including forex borrowings in working Cash bala
Slide 10: Leverage Reducing Over Time
Leverage Reducing Over Time (All amounts shown are in RM’m) Debt Gearing Net Debt Cash Net Debt to Equity Net Debt to EBITDA 3.86 3.96 3.83 3.77 759 717 953 3.29 3.33 3.03 3.07 839 2.87 678 689 752 705 902 5,741 5,655 5,310 1.34 1.20 4,666 4,338 4,130 3,897 1.03 0.92 3,650 3,392 0.82 0.72 0.66 0.65
Slide 11: Financial Performance Over Time
Financial Performance Over Time (All amounts shown are in RM’m) Revenue Operating Profit before Impairment (2) Operations Others 31.4 1.5 1.3 5.9 46.0 6.9 14.9 0.5 621.6 1.4 621.4 634.2 386.3 599.2 345.2 572.5 522.1 529.1 524.3 256.1 276.4 251.9 263.4 242.2 222.5 439.9 174.3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 12: Order-Book as at 31 Mar 2024
Order-Book as at 31 Mar 2024 85% order-book from Order book as at 31 Mar 2024 wholly-owned FPO units Firm contract RM8.1 bil RM1.6 bil Robust firm order book of RM9.7b period order book Certain contracts contain extension Optional extension RM8.9 bil RM1.4 bil period order book options beyond
Slide 13: 2024 Outlook
2024 Outlook We are pursuing new opportunities in targeted markets. We will continue to focus on the following areas to improve the prospects of the organisation: Safety ESG Growth Relationships Performance 13
Slide 14: Disclaimer
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, performance, o
Slide 15: Q&A
Q&A BES BUMIARMADA 6
Slide 16: Thank You
ENE wae ee 2050 Thank You KARAPAN ARIVADA ERLIN XN va BUMIARMADA By