Helix Energy Solutions Group, Inc. · NYSE:HLX
Helix Energy Solutions — Q3 2015 Earnings Presentation
23 slides from Helix Energy Solutions's earnings presentation, Oct 20, 2015
Slide 1: Third Quarter 2015 Conference Call
focusing on the future. ENERGY SOLUTIONS Oe HELIX Third Quarter 2015 Conference Call October 20, 2015
Slide 2: Forward-looking statements
This rd- that inene risks, rte id that could: ue our results to differ materially from thi implied by such a. than statements of historical fact, are "forward-looking statements” win the meaning of the Private Securities Ligation Reform Act of 1998, including, without limitation, any strategy; any s
Slide 3: Agenda
e Executive Summary (pg. 4) © Operational Highlights by c] (pg. 8) e Key Balance Sheet Metrics (pg. 13) e 2015 Outlook (pg. 16) e Non-GAAP Reconciliations (pg. 21) e Questions & Answers Navigating the present, focusing on the future. HELIX ENERGY SOLUTIONS. Work class ROV XLX- 88
Slide 4: Executive Summary
Executive Summary focusing on the future
Slide 5: Executive Summary
Executive Summary (Sin millions, except per share data) ae HEL 71 9/30/2015 IX ENERGY SOLUTIONS. Nine Months Ended 9/30/2014 ‘Three Months Ende: 9/30/2015 9/30/2014 Revenues $ 182 § 3a1 Gross profit s 2 § 126 18% 37% Net income (loss) applicable to common shareholders $ wo $ 76 Diluted earnings (los
Slide 6: Executive Summary
Executive Summary Ge HELIX © Q3 2015 earnings of $0.09 per diluted share compared to loss of $(0.03) per diluted share in Q2 2015 © Q3 2015 EBITDA of $51 million compared to EBITDA of $36 million in Q2 2015 © Quarter over quarter increases reflect the improved performance of our Robotics Segment and
Slide 7: Executive Summary: Balance Sheet
Executive Summary LIX ENERGY SOLUTIONS. Balance Sheet ¢ Liquidity’ of approximately $712 million at 9/30/2015 * Cash and cash equivalents totaled $469 million at 9/30/2015 $19 million of cash used for scheduled principal debt repayments $48 million of cash used for capital expenditures Net debt of $
Slide 8: Operational Highlights
ENERGY SOLUTIONS. Operational Highlights em HELIX
Slide 9: Operational Highlights by segment
(Sin millions) Well Intervention Production Facilities Intercompany elimination Total Well Intervention Robotics Production Facilities Elimination and other Total Navigating th Three Months Ended 9/30/2015 9/30/2014 $ 95 $ 205 83 132 19 24 (15) (20) 182 341 9 9% 84 17 20% 32 7 37% 1" (1) (1) $ 32 18
Slide 10: Well Intervention: Gulf of Mexico and North Sea
HELIX ENERGY SOLUTIONS Gulf of Mexico © 4000 was 67% utilized during Q3 on various projects . S 534 was idle in Q3; the vessel entered dry dock in tember and is expected to complete dry dock in mid Q4 re no.1 and IRS no. 2 rental units remained on hire the entire quarter Q5000 arrived in the Gulf of
Slide 11: Robotics operations
HELIX ENERGY SOLUTIONS. 87% chartered vessel fleet utilization in Q3; 59% utilization for ROVs, trenchers and ROVDrills Grand Canyon, T1200 and iTrencher utilized for 81 days (88% eee on cable burial project offshore Qatar during Q3; ‘anyon transited to Brazil for an offshore jet trenching sod cue i
Slide 12: Vessel and ROV utilization
ENERGY SOLUTIONS. 100% 90% 87% 81% 81% 80% 63% 60% 60% 03 2015 92 2015 40% 93 2014 20% 0% ROVs and Trenchers + Skandi Constructor + Olympic Cany 3 ROVs + Seawell? : ygnus + 2 ROVDril units Well Enhancer ‘Olympic Triton '2 + 5 Trencher + 24000 * Grand Canyon ' + Helix 534 Grand Canyon 1)" + REM Insta
Slide 13: Key Balance Sheet Metrics
Slide 14: Debt Instrument Profile
Debt Instrument Profile a HELIX ENERGY SOLUTIONS. Total funded debt of $793 million at end of Q3 2015: Debt Instrument Profile at 9/30/2015 (Sin milions) ¢ $200 million Convertible Senior Notes — 3.25%! S ($183 million net of unamortized debt discount) on © $263 million Term Loan — LIBOR + 2.50%? $4
Slide 15: Net Debt and Liquidity
ENERGY SOLUTIONS. (Sin millions) $2,027 $2,000 $1,200 $1,903 $1,500 $900 $1361 $1,358 s1ass $1080 sis $1,000 ee? $600 sm 608 E $502 $566 sss $500 $300 307 $88 $75, $0 $0 42/31/2008 12/31/2009 12/31/2010 12/31/2011 12/31/2012 12/31/2013. 12/31/2014 09/30/2015, Net Debt Liquidity Debt? Liquidity 2 ncl
Slide 16: 2015 Outlook
nt, focusing on the future.
Slide 17: 2015 Outlook
2015 Outlook P= am HEL ENE IX ENERGY SOLUTIONS (Sinmillions) 2015 2014 Outlook Actual : Revenues: ~700 $ 1,107 EBITDA ~160-170 378 CAPEX ~365 357 Revenue Split: Well intervention ~355 $ 668 Robotics ~300 420 Production Facilities ~78 93 Elimination ee senmr (33) 74) Total $ 700 $ 1,107 A ea op 206 a
Slide 18: 2015 Outlook
2015 Outlook Ge HELIX ENERGY SOLUTIONS. Total backlog as of September 30, 2015 was approximately $1.8 billion The Q4000 is expected to have strong utilization for the remainder of 2015 The Helix 534 is scheduled to finish dry dock in Q4; vessel warm stack is planned thereafter with the vessel backlo
Slide 19: 2015 Outlook
2015 Outlook eo HELIX Grand Canyon and T1200 to be utilized until year end 2015 performing a jet trenching project offshore Brazil © Olympic Canyon is currently transiting back to the North Sea and currently is expected to be cold stacked until the vessel's charter expires in late May 2016; will con
Slide 20: 2015 Outlook — Capex
2015 Outlook — Capex er HELIX ENERGY SOLUTIONS. 2015 capex is currently forecasted at approximately $365 million, consisting of the following: $250 million in growth capital, primarily for newbuilds currently underway, including: = $154 million for Q5000 * $21 million for Q7000 $57 million for Siem
Slide 21: Non-GAAP Reconciliations
Non-GAAP Reconciliations focusing on the future
Slide 22: Non-GAAP Reconciliations
Non-GAAP Reconciliations (ae ENERGY SOLUTIONS. (Sin mitions) ‘Three Months Ended Nine Months Ended 9/30/2015 9/30/2014 «6/30/2015, 9/30/2015 9/30/2014 Net income (loss) applicable to common shareholders $. 10 $ 7% S$ ® $ a7 § 187 Adjustments: Net income applicable to noncontrolling interests : : Inc
Slide 23: HLX Listed NYSE
focusing on the future. ENERGY SOLUTIONS Oe HELIX HLX Listed NYSE® Follow Helix on Twitter - @Helix_ESG ; ee 9g ip www.linkedin p ay
Helix Energy Solutions Group — Q3 2015 Earnings Presentation on 6ix