Slide 1: Q1 2017 Analyst Briefing
BUMI ARMADA Q1 2017 ANALYST BRIEFING 31st May 2017
Slide 2: 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 3: Agenda
Agenda 1. Q1 2017 Financials 2. Operational & Project Updates 3. Outlook 4. Q&A 3
Slide 4: Q1 2017 Financials
Q1 2017 Financials VX Wa BUMIARMADA 3
Slide 5: Key takeaways
Key takeaways Revenue in Q1 2017 improved to RM404.2 mil versus RM106.2 mil in Q4 2016. EBITDA for YTD 2017 and Q1 2017 stands at RM248.4 mil versus negative RM70.7 mil in Q4 2016. The Group posted a profit attributable to owners for YTD 2017 of RM48.1 mil versus a net loss of RM249.2 mil (1)
Slide 6: Results Overview – Q1 2017 vs. Q4 2016 (in RM'mil)
Results Overview – Q1 2017 vs. Q4 2016 (in RM’mil) Revenue EBITDA Net Profit (1) 404.2 248.4 48.1 > 100% >100% Q4 2016 Q1 2017 > 100% 106.2 Q4 2016 Q1 2017 Q4 2016 Q1 2017 (70.7) (249.2) Improvement primarily due to the FPO Increase in EBITDA due to: The loss in Q4 2016 as shown above, does business
Slide 7: Results Overview – YTD 2017 vs. YTD 2016 (in RM'mil)
Results Overview – YTD 2017 vs. YTD 2016 (in RM’mil) Revenue EBITDA Net Profit (1) 430.8 -6% 404.2 251.5 -1% 248.4 16% 48.1 41.3 YTD 2016 YTD 2017 YTD 2016 YTD 2017 YTD 2016 YTD 2017 Lower revenue Y-o-Y due to: Lower EBITDA due to: The profit in YTD 2016 as shown above, • Lower OSV vessel utilisatio
Slide 8: Revenue composition by segments – Q1 2017 vs. Q4 2016 (in RM'mil)
Revenue composition by segments – Q1 2017 vs. Q4 2016 (in RM’mil) Performance in established segments driven by the underlying activities FPO OMS 239.7 -18% 200.3 164.5 > 100% Q4 2016 Q1 2017 (94.0) Q4 2016 Q1 2017 Higher revenue due to: Lower revenue due to: • Higher contribution from Armada Olombe
Slide 9: Revenue composition by segments – YTD 2017 vs. YTD 2016 (in RM'mil)
Revenue composition by segments – YTD 2017 vs. YTD 2016 (in RM’mil) Performance in established segments driven by the underlying activities FPO OMS 11% 239.7 214.2 216.6 -23% 164.5 YTD 2016 YTD 2017 YTD 2016 YTD 2017 Higher revenue due to: Reduced revenue due to: • Higher contribution from Armada Ol
Slide 10: Revenue composition by geographical %
Revenue composition by geographical % Malaysia based international company continued expansion across key regions 8
Slide 11: Order book as at 31 March 2017
Order book as at 31 March 2017 As at 31 March 2017, the Group’s firm order book stood at RM23.9 bil compared to RM25.6 bil as at 31 December 2016. Upon expiration of the firm contract period, certain contracts contain extension options which are renewable on annual basis with a total potential contr
Slide 12: Operational & Project Updates
Operational & Project Updates 12
Slide 13: Safety
Safety Lost Time Injury Frequency, LTIF 0.7 0.6 0.56 0.51 0.5 0.4 0.3 0.27 0.2 0.12 0.1 0 2011 2012 2013 2014 2015 2016 Q12017 (1) BAB IMCA (1) International Marine Contractors Association (IMCA) One BAB LTI recorded in Q1 2017 on FPSO Projects (Kraken) , LTIF spike as averaged over Q1 only – in 2
Slide 14: OMS Updates
OMS Updates 44% vessel utilisation in Q1 2017, compared to 48% in Q4 2016. Currently 21 OSVs cold stacked. Sold 1 vessel, Armada Aman in Apr 2017. New OMS projects secured in Q1 2017: Armada Tuah 303 & Armada Tuah 305 – 6 months charter in Malaysia. Armada Salman - 100 days charter in Ma
Slide 15: FPSO Updates
FPSO Updates 99+% uptime on the operating FPSOs. Completed documentation for sale of Perkasa FPSO. Projects: 1. Armada LNG Mediterrana – On hire. 2. Armada Olombendo – First oil achieved 8th February. Currently producing over 40k BBLS/oil. 3. Karapan Armada Sterling III – First gas received on
Slide 16: Outlook
Outlook 17 BUMIARMADA ts
Slide 17: Bumi Armada Outlook
Bumi Armada Outlook Completion of projects Continuing cost restructuring Sale of unutilised assets Bidding on new projects for growth: i. ENI Zaba Zaba ii. ONGC 98/2 iii. Hess Ghana iv. Petrobras Buzios 5 Karapan Armada Sterling III FPSO - First Gas 6 May 2017 17
Slide 18: Q&A
Q&A VX Wa BUMIARMADA BP
Slide 19: Thank You
Thank You ap ZN V BUMIARMADA 19