Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q2 2019 Earnings Presentation
16 slides from Bumi Armada Bhd's earnings presentation, Aug 30, 2019
Slide 1: Bumi Armada Q2 2019 Analyst Briefing
BUMI ARMADA Q2 2019 ANALYST BRIEFING 30 Aug 2019
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 • Operational Updates • Q2 2019 Financials • Outlook • Q&A 3
Slide 4: Operational Updates
Operational Updates VX Wa BUMIARMADA BP
Slide 5: Q2 2019 Operational Updates
Q2 2019 Operational Updates Overall operations in Q2 2019 were in-line with expectations Corporate • Safe operations in Q2 with no LTIs recorded • Focus on cost continues FPO • Marked improvement on Armada Kraken FPSO • Other FPO units continue stable operations OMS • No new work for SC in the Caspi
Slide 6: Q2 2019 Financials
Q2 2019 Financials VX Wa BUMIARMADA 3
Slide 7: Key takeaways
Key takeaways • Revenue in Q2 2019 increased by 9.0% to RM535.6 million compared to Q1 2019 • Q2 2019 versus Q1 2019 • FPO revenue increased by 4.2% to RM443.6 million • OMS revenue increased by 39.4% to RM92.0 million • FPO segment results increased by 9.7% to RM278.5 million • OMS segment results
Slide 8: Results Overview – Q2 2019 vs. Q1 2019 (RM'm)
Results Overview – Q2 2019 vs. Q1 2019 (RM’m) Revenue Segment Results 535.6 491.6 66.0 92.0 301.0 +9.0% 262.7 22.5 9.0 +14.6% 425.6 443.6 253.7 278.5 Q1 2019 Q2 2019 Q1 2019 Q2 2019 FPO OMS FPO OMS • FPO revenue and results increased mainly due to higher contribution from Armada Kraken FPSO and Arma
Slide 9: Results Overview – Q2 2019 vs. Q1 2019 (RM'm)
Results Overview – Q2 2019 vs. Q1 2019 (RM’m) Operating Profit before Net Profit (2) Impairment (1) 201.3 172.4 +16.8% 78.2 62.2 +25.7% Q1 2019 Q2 2019 Q1 2019 Q2 2019 • Operating profit before impairment and net profit increased due to higher contribution from Armada Olombendo FPSO and higher OSV u
Slide 10: Results Overview – YTD 2019 vs. YTD 2018 (RM'm)
Results Overview – YTD 2019 vs. YTD 2018 (RM’m) Revenue Segment Results 1,254.4 1,027.2 347.6 158.0 563.8 -18.1% 555.5 31.6 104.0 906.8 869.2 +1.5% 451.5 532.2 YTD 2018 YTD 2019 YTD 2018 YTD 2019 FPO OMS FPO OMS • FPO revenue decreased due to lower revenue from Armada TGT FPSO subsequent to the sign
Slide 11: Results Overview – YTD 2019 vs. YTD 2018 (RM'm)
Results Overview – YTD 2019 vs. YTD 2018 (RM’m) Operating Profit before Net Profit (2) Net Profit (2) Impairment (1) before Impairment (1) 140.4 373.7 145.9 +12.4% +36.4% YTD 2018 YTD 2019 107.0 +>100% 332.5 (537.1) YTD 2018 YTD 2019 YTD 2018 YTD 2019 • Operating profit before impairment increased d
Slide 12: Revenue composition by geographical %
Revenue composition by geographical % YTD 2018 YTD 2019 4% 1% 2% 8% 25% 14% 34% 32% 37% 43% 13
Slide 13: Order book as at June 2019
Order book as at 30 June 2019 As at 30 June 2019, the Group’s firm order book stood at RM18.9 bil compared to RM19.3 bil as at 31 March 2019. Upon expiration of the firm contract period, certain contracts contain extension options which are renewable on annual basis with a total potential value of R
Slide 14: Outlook
Outlook VX Wa BUMIARMADA BP
Slide 15: Forward strategy
Forward strategy • Maintain focus on HSSEQ • Performance of Armada Kraken FPSO • Reduce costs and debt • Monetise selected assets • Secure charters for the OMS vessels 15
Slide 16: Q&A
Q&A . BUMIARMADA