Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q2 2024 Earnings Presentation
17 slides from Bumi Armada Bhd's earnings presentation, Aug 1, 2024
Slide 1: Bumi Armada Berhad Financial Results Q2 2024
Bumi Armada Berhad Financial Results Q2 2024
Slide 2: Q1 2024 Health, Safety & Environment
Q1 2024 Health, Safety & Environment Armada Sterling FSU Armada LNG Mediterrana 11 years LTI free 7 years LTI free Armada Sterling II Armada Kraken 9 years LTI free 2 years LTI free Karapan Armada Sterling III Armada Constructor 7 years LTI free 6 years LTI free Armada Olombendo Armada Installer 2 y
Slide 3: Q2 Corporate Social Responsibility
Q2 Corporate Social Responsibility • 9th May 2023 - Bumi Armada collaborated with the Department of Fisheries Pahang for a beach clean-up and marine life awareness program at Kampung Baru Berserah, Pahang. • July 23, 2024 - In celebration of International Mangrove Day on July 26, Bumi Armada, in par
Slide 4: Q2 2024 Key Operations Update
Q2 2024 Key Operations Update Armada Kraken Armada Sterling V • New transformers received and held in storage. • Final Acceptance received on 1st July 2024. 2nd new transformer successfully changed out offshore. • 4 offtakes successfully carried out. • Power generator No. 1 - 36,000 hrs service comp
Slide 5: Q2 2024 Fleet Highlights
Q2 2024 Fleet Highlights FPSOs and FSU FPSOs and FSU Average Uptime Q1 2024 Q2 2024 Owned Units* (4) 99.94% 100.00% JV Units* (3) 100.00% 100.00% * Excludes 98/2 vessels • Steady operational performance throughout Q2 2024. • Armada Sterling V Final Acceptance achieved on 1 July 2024. • 1st year opti
Slide 6: BlueStreak CO2 Joint Venture Developments
BlueStreak CO2 Joint Venture Developments • Bluestreak CO2, the joint-venture with Navigator Gas, targets to provide non-pipeline transport solutions for stranded emitters who have limited / no access to pipeline networks to evacuate their CO2 emissions • In July 2024, Bluestreak CO2 signed a MOU wi
Slide 7: Q2 2024 Financial Performance
Q2 2024 Financial Performance 7
Slide 8: Q2 2024 Key Takeaways
Q2 2024 Key Takeaways Q2 2024 (versus Q1 2024) RM579m (RM636m) -9% RM315m (RM345m) Profit RM266m -9% Revenue Operating profit before +10% (RM241m) impairment Net profit attributable to Owners of the Company ➢ Net current liabilities position of RM787m: >100% RM592m (RM272m) • due to Sukuk Murabahah
Slide 9: Results Overview – Q2 2024 vs. Q1 2024
Results Overview – Q2 2024 vs. Q1 2024 RM'm Q1 2024 Q2 2024 Revenue mainly due to finalisation of Daily Operating Revenue 635.5 578.9 Fee escalation with a charterer in Q1 2024. Operating expenses (307.1) (291.7) Other operating income 16.9 28.0 Operating profit before impairment 345.2 315.1 Lower o
Slide 10: Cash Movement – Q2 2024
Cash Movement – Q2 2024 (All amounts shown are in RM’m) Cash balance - Q2 2024 57 7 3 279 260 360 96 1,214 902 1 Apr 2024 Operating Net change Dividend Interest Others Repayment of Interest paid 30 June 2024 Cash balance surplus in working received from a received (including forex borrowings Cash ba
Slide 11: Leverage Reducing Over Time
Leverage Reducing Over Time (All amounts shown are in RM’m) Debt Gearing Net Debt Cash Net Debt to Equity Net Debt to EBITDA 3.86 3.96 3.83 3.77 759 717 953 3.29 3.33 3.03 3.07 839 2.87 678 689 752 2.37 705 902 1,214 5,741 5,655 5,310 1.34 1.20 4,666 4,338 4,130 3,897 1.03 0.92 3,650 3,392 0.82 0.72
Slide 12: Financial Performance Over Time
Financial Performance Over Time (All amounts shown are in RM’m) Revenue Operating Profit before Impairment (2) Operations Others 31.4 1.5 1.3 5.9 46.0 17.0 14.9 6.9 0.5 634.2 386.3 621.6 599.2 1.4 621.4 345.2 572.5 561.9 315.1 529.1 524.3 256.1 276.4 251.9 263.4 522.1 242.2 222.5 439.9 174.3 Q1 Q2 Q
Slide 13: Order-Book as at 30 June 2024
Order-Book as at 30 June 2024 ➢ 72% order-book from Order book as at 30 June 2024 wholly-owned FPO units Firm contract ➢ Robust firm order book of RM12.1b period order book RM7.8 bil RM4.3 bil ➢ Certain contracts contain extension Optional extension options beyond firm contract period RM8.7 bil RM2.
Slide 14: 2024 Outlook
2024 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 ESG Growth Relationships Performance 14
Slide 15: 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 16: Q&A
Q&A ae BUMIARMADA 16
Slide 17: Thank You
KARAPAN ARWADA TERLING N va BUMIARMADA =