Slide 1: Bumi Armada Berhad 3Q 2011 Results
BUMI ARMADA BERHAD 3Q 2011 Results 21st November 2011 “Knots Ahead of the Rest”
Slide 2: Disclaimer
Disclaimer This document 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 cause actual results, performance, or e
Slide 3: Overview of key business segments
Overview of key business segments Enable effective project management Revenue drivers and cost control 1 2 3 4 5 6 Floating Production Offshore Transport Oilfield Engineering, Fleet Storage and Offloading Support and Installation Services Procurement and Management Services (FPSO) Vessel (OSV) Servi
Slide 4: A Malaysia-based international offshore services provider with an expanding reach
A Malaysia-based international offshore services provider with an expanding reach Turkmenistan 1 office UAE 1 shore base 1 marketing office Turkmenistan UAE Armada Installer India MEXICO Office for JV with Forbes & 1 shore base AFRICA Company Limited 2 shore bases D1 FPSO Mexico 1 JV o
Slide 5: Results overview – YTD 2011
Results overview – YTD 2011 Revenue Net Profit 1,173.0 240.4 238.4 870.2 YTD Sep 2010 YTD Sep 2011 EBITDA YTD Sep 2010 YTD Sep 2011 625.9 523.2 YTD Sep 2010 YTD Sep 2011 3Q 2011 profit was reduced by one-off costs, primarily in relation to the IPO 4
Slide 6: Business Highlights
Business Highlights “Knots Ahead of the Rest”
Slide 7: Armada TGT1 delivers first oil in Vietnam
Armada TGT1 delivers first oil in Vietnam 6
Slide 8: D1 FPSO for ONGC (India)
D1 FPSO for ONGC (India) Location The D1 field lies about 200 kilometres off the coast of Mumbai with water depths ranging from 85m to 90m. Contact 7 Years Firm with 6 Years Duration Options Production Up to 50,000 (bopd) Storage (bbls) 580,000 Hull / Age Double Hull / 14 Years D1 Field (Monte Umbe)
Slide 9: Balnaves FPSO for Apache Corporation (Australia)
Balnaves FPSO for Apache Corporation (Australia) Location The Balnaves WA-49-L block is in a separate reservoir in the Triassic Mungaroo formation, located next to the large gas reservoirs of the Brunello gas field with water depths around 137m. Contact 4 Years Firm with 4 Years Duration Options BAL
Slide 10: Business Highlights
Business Highlights Offshore Support Vessels (OSV) Utilisation of the fleet has improved through the year – 93%* in 3Q 2011. FY2010 Q1 2011 Q2 2011 Q3 2011 71% 64% 78% 86% Secured long-term contract (3-year charter) for one 8000HP AHTS with VietSovPetro for the HLJOC project. Transport & Install
Slide 11: Financial Highlights
Financial Highlights “Knots Ahead of the Rest”
Slide 12: Robust financial performance
Robust financial performance Revenue (RM m) EBITDA (RM m) and EBITDA margin 57.0% 60.1% 46.9% 51.1% 1,173.0 870.2 523.2 599.4 393.0 403.9 184.3 230.3 Q2 2011 Q3 2011 YTD Q3 YTD Q3 Q2 2011 Q3 2011 YTD Q3 YTD Q3 2010 2011 2010 2011 PAT (RM m) and PAT margin Revenue of RM 1.17 billion, up 34.8% (RM 3
Slide 13: PAT & EBITDA Growth
PAT & EBITDA Growth PAT Growth (RM M) EBITDA Growth (RM M) 11% 20% 26.8 Operating EBITDA, 626.2 Operating EBITDA, EBITDA, 523.2 599.4 EBITDA, 523.2 56% Norma- 31% lised PAT PAT* 240.4 Operating 265.2 20.3 EBITDA, Operating 250.6 EBITDA, 190.9 EBITDA, 6.5 230.3 PAT EBITDA, 95.3 184.4 PAT 61.0 Q2 2011
Slide 14: Revenue composition by business unit
Revenue composition by business unit Revenue by business unit (RM m) Contribution to Revenue by Business Unit 11.2% 14.0% 1,173.0 17.2% 17.3% 11.8% 203.3 20.2% 16.1% 870.2 36.2% 189.2 122.2 33.1% 29.6% 29.8% 314.9 347.5 393.0 403.9 67.5 45.3 47.5 49.8% 79.2 44.0% 133.6 36.9% 433.1 433.0 32.8% 117.1
Slide 15: Leverage and capitalization
Leverage and capitalization Net Debt / EBITDA(1) Gearing ratio 5.1x 4.0x 3.9x 4.9x 4.8x 4.3x 3.4x 2.7x 2.1x 0.8x 2008 2009 2010 Q2 2011 Q3 2011 2008 2009 2010 Q2 2011 Q3 2011 (1) Annualized EBITDA 14
Slide 16: Order book
Order book As at 30 September 2011, the Group’s order book stood at RM7.2 billion*. Upon expiration of the firm contract period, certain contracts contain extension options which are renewable on annual basis with a total potential contract sum of RM3.1 billion over the entire option periods. Firm c
Slide 17: Outlook & Prospects
Outlook & Prospects “Knots Ahead of the Rest”
Slide 18: Crude oil – The leading indicator
Crude oil – The leading indicator Oil above USD70/barrel is positive for long-term E&P development and future investment. Current indications for E&P capex for 2012 indications are for an average increase in spend by IOCs of 15%. 17
Slide 19: Business Outlook – Firing on all cylinders in 2012
Business Outlook– Firing on all cylinders in 2012 FPSOs Strong demand in our key markets of Asia, Africa and Latin America. Looking to secure 2 good projects annually. OSVs Market has been positive as clients switch to younger, more efficient vessels. Focus for BAB is to move away for the “c
Slide 20: Bumi Armada Berhad
BUMI ARMADA BERHAD KNOTS AHEAD OF THE REST “Knots Ahead of the Rest”