Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q1 2025 Earnings Presentation
15 slides from Bumi Armada Bhd's earnings presentation, May 22, 2025
Slide 1: Bumi Armada Berhad Financial Results Q1 2025
Bumi Armada Berhad Financial Results Q1 2025 22 May 2025
Slide 2: Q1 2025 Health, Safety & Environment
Q1 2025 Health, Safety & Environment Armada Sterling FSU Armada LNG Mediterrana 11 years LTI free 8 years LTI free Armada Sterling II Armada Kraken 10 years LTI free 3 years LTI free Karapan Armada Sterling III Armada Constructor 7 years LTI free 7 years LTI free Armada Olombendo Armada Installer 3
Slide 3: Uptime Owned Units
Uptime Owned Units 99.65 % Armada TGT • Tank repair works for ABS Class repairs • Vendor inspection of turbines. Armada Kraken • Boiler control upgrade completed • Process Safety Improvement Plan (PSIP) rolled out to both onshore and offshore teams • Strong production performance continued - 155 day
Slide 4: Uptime JV Units
Uptime JV Units 99.79 % Armada Sterling II (C7) • 5 yearly calibration & recertification of Pressure Safety Valve • Survey for the Certificate of Fitness carried out by ABS Karapan Armada Sterling III • Solar Turbine GTG-C 8000hours planned maintenance • Solar Turbine GTG-A 4000 hours planned mainte
Slide 5: New Ventures Update (Q1 2025)
New Ventures Update (Q1 2025) Akia Production Sharing Contract (PSC) • 3D seismic acquisition commenced in April 2025. 5
Slide 6: Q1 2025 Financial Performance
Q1 2025 Financial Performance 6
Slide 7: Q1 2025 Financial Highlights
Q1 2025 Financial Highlights Q1 2025 (versus Q4 2024) Key Takeaways: -11% RM474m (RM533m) Revenue Kraken 2nd annual option charter confirmed to 1 April 2027. -23% RM248m (RM321m) Net current assets position of RM1,427m. Operating profit before impairment US$32m debt reduction in Q1 2025. Profit RM18
Slide 8: Results Overview – Q1 2025 vs. Q4 2024
Results Overview – Q1 2025 vs. Q4 2024 RM'm Q4 2024 Q1 2025 Revenue mainly due to recognition of compensation Revenue 533.0 474.0 payable to the charterer of Armada Kraken FPSO in Q1 Operating expenses (233.8) (246.2) 2025 upon confirmation of 2nd annual option charter Other operating income 22.2 20
Slide 9: Cash Movement – Q1 2025
Cash Movement – Q1 2025 (All amounts shown are in RM’m) Cash balance - Q1 2025 295 18 16 10 144 110 68 1,427 1,424 1 Jan 2025 Operating surplus Dividends Interest received Others Repayment of Net change Interest paid 31 Mar 2025 Cash balance before net change received from borrowings in working Cash
Slide 10: Leverage Reducing Over Time
Leverage Reducing Over Time Cash Debt stood at Net Debt Cash (in RM’mil) > RM1.4 Billion 678 689 752 705 902 1,214 Debt Repayment 1,100 1,427 1,424 in Q1-25 amounted to 4,338 4,130 3,897 3,650 3,392 2,773 US$32 Million 2,538 2,257 2,083 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Net Debt
Slide 11: Financial Performance Over Time
Financial Performance Over Time (All(All amounts amounts shown shown areare in RM’m) in RM’m) Revenue Operating Profit before Impairment Operations Others 1.3 1.5 17.0 14.9 0.5 8.7 3.7 0.9 386.3 1.4 621.4 634.2 345.2 315.1 321.4 561.9 263.4 260.7 248.4 529.1 524.3 543.2 529.3 222.5 473.1 174.3 439.9
Slide 12: Vessel Order Book as of 31 Mar 2025
Vessel Order Book as of 31 Mar 2025 Vessel Order book as at 31 Mar 2025 ➢ 72% vessel order book from wholly-owned FPO units Firm contract RM6.4 bil RM3.7 bil ➢ Robust firm vessel order book of period order book RM10.1b Optional extension RM7.9 bil RM1.8 bil ➢ Certain contracts contain extension peri
Slide 13: 2025 Outlook
2025 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 Maintain LTI free for all assets. Performance Sustain solid financial performance Growth Expand our core FPSO business and explore
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: ae BUMIARMADA
ae BUMIARMADA 1