Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q3 2021 Earnings Presentation
16 slides from Bumi Armada Bhd's earnings presentation, Nov 1, 2021
Slide 1: Bumi Armada Berhad Q3 2021 Financial Results
Bumi Armada Berhad Q3 2021 Financial Results
Slide 2: Health, Safety and Environment
Bumi Armada Q3 2021 Health, Safety and Environment Key HSE Milestone Achievements • Armada TGT 1 - 10 years LTI free • Armada Olombendo FPSO - 4 years LTI free • FSU Armada LNG Mediterrana - 4 years LTI free • Armada Sterling - 8 years LTI free • Armada Sterling II - 6 years LTI free • Karapan Armad
Slide 3: FPO Performance
Bumi Armada Q3 2021 FPO Performance Revenue (RM) Segment Results (RM) Average Uptime Q4 2020 Q1 2021 Q2 2021 Q3 2021 Owned Units* (4) 99% 98% 99% 99% 472.2 mil 337.0 mil JV Units (3) 98% 99% 100% 100% * Excludes Armada Claire • COVID challenges being managed without interruption to operations, inclu
Slide 4: OMS Performance
Bumi Armada Q3 2021 OMS Performance Revenue (RM) Segment Results (RM) Utilisation Q4 2020 Q1 2021 Q2 2021 Q3 2021 OSV Fleet 49% 44% 70% 69% 73.5 mil 22.0 mil • Vessel utilisation in Q3 2021 was 69% vs 70% in Q2 2021. • 4 vessels were sold in Q3 2021 with profit on sale of RM5.8mil recorded. • The de
Slide 5: Financial Performance
Financial Performance i Ae BUMIARMADA WA
Slide 6: Key Takeaways
Key Takeaways • Q3 2021 versus Q2 2021 ➢ Revenue 11% to RM546mil. ➢ Gross profit 5% to RM249mil. ➢ FPO revenue 11% to RM472mil. ➢ OMS revenue 11% to RM73mil. ➢ Impairment of RM6mil in Q3 2021. Gain on sale of vessels RM6mil. ➢ Operating profit before impairment (2) 12% to RM244mil. ➢ Group net profi
Slide 7: Financial Performance Over Time
Financial Performance Over Time (All amounts shown are in RM’ mil) Revenue Operating Profit before Impairment (2) FPO OMS 85.6 84.0 82.5 90.5 93.9 67.6 73.5 92.0 74.0 96.1 66.0 278.2 279.2 248.6 241.9 246.6 244.5 222.1 214.6 532.1 533.1 201.3 521.2 470.5 495.1 472.2 167.0 425.6 443.6 453.9 419.5 462
Slide 8: Leverage Reducing Over Time
Leverage Reducing Over Time (All amounts shown are in RM’ mil) Debt Debt to Equity Net Debt Cash 3.27 3.00 2.98 2.95 3.09 2.85 2.90 1,148 1,096 1,035 960 2.66 1,094 850 2.38 923 895 975 2.18 876 910 1.96 8,834 8,796 8,845 8,396 8,749 8,503 7,939 7,412 7,166 6,903 6,486 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 9: Results Overview – Q3 2021 vs. Q2 2021 (RM' mil)
Results Overview – Q3 2021 vs. Q2 2021 (RM’ mil) Revenue Segment Results FPO OMS FPO OMS 615.6 351.9 359.0 545.7 82.5 7.2 22.0 - 11% 73.5 + 2% 533.1 344.7 337.0 472.2 Q2 2021 Q3 2021 Q2 2021 Q3 2021 FPO: • Revenue and Segment results decreased mainly due to lower vessel availability arising from an
Slide 10: Results Overview – Q3 2021 vs. Q2 2021 (RM' mil)
Results Overview – Q3 2021 vs. Q2 2021 (RM’ mil) Operating Profit Net Profit (1) before Impairment (2) before Impairment (2) - 34% -12% 279.2 243.6 244.5 159.6 Q2 2021 Q3 2021 Q2 2021 Q3 2021 • Operating profit before impairment decreased mainly due to lower revenue from Armada Kraken FPSO and lower
Slide 11: Order Book as at 30 September 2021
Order Book as at 30 September 2021 As at 30 September 2021, the Group’s firm order book stood at RM14.6bil. Upon expiration of the firm contract period, certain contracts contain extension options which are renewable on an annual basis with a total potential value of RM9.6bil over the entire optiona
Slide 12: Outlook
Outlook i Ae BUMIARMADA vi |
Slide 13: Outlook
Outlook The recovery of oil price augurs well for the oil and gas sector, which may see increasing activities across the entire value chain. The Group expects the FPO business to be relatively stable for the remainder of 2021 and will continue to focus on the following areas to improve the prospects
Slide 14: Forward Looking Disclaimer
Forward Looking 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
Slide 15: Q&A
Q&A Ae BUMIARMADA vi |
Slide 16: S BUMIARMADA
S BUMIARMADA