Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q3 2015 Earnings Presentation
12 slides from Bumi Armada Bhd's earnings presentation, Nov 20, 2015
Slide 1: Q3 2015 Financial Results
Q3 2015 Financial Results 20 November 2015 “Knots Ahead of the Rest”
Slide 2: Disclaimer
Disclaimer This presentation may contain statements of future expectations and 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,
Slide 3: Key takeaways
Key takeaways FPSO & FGS revenue increased 39.7% year-on-year from RM663.6 mil in YTD 2014 to RM927.4 mil in YTD 2015 and increased 34.7% quarter-on-quarter from RM271.1 mil in Q2 2015 to RM365.2 mil in Q3 2015. EBITDA increased 12.4% year-on-year from RM761.0 mil in YTD 2014 to RM855.1 mil in Y
Slide 4: Results Overview – Q3 2015 vs. Q2 2015 (in RM'mil)
Results Overview – Q3 2015 vs. Q2 2015 (in RM’mil) Revenue EBITDA Net Profit * 298.6 +21.9% 559.5 +124.0% +10.8% 70.0 459.1 Q2 2015 Q3 2015 269.5 Q2 2015 Q3 2015 (291.5) Q2 2015 Q3 2015 Higher revenue due to: Higher EBITDA due to: • Net core profit (excluding • Higher FPSO conversion activity driven
Slide 5: Results Overview – YTD 2015 vs. YTD 2014 (in RM'mil)
Results Overview – YTD 2015 vs. YTD 2014 (in RM’mil) Revenue Net Profit* EBITDA -6.2% +12.4% 855.1 1,695.5 271.2 1,590.7 761.0 -155.1% YTD 2014 YTD 2015 (149.5) YTD 2014 YTD 2015 YTD 2014 YTD 2015 Lower revenue due to: Higher EBITDA due to: • Net core profit (excluding • Decrease in OSV utilisation
Slide 6: Revenue composition by segments – Q3 2015 vs. Q2 2015 (in RM'mil)
Revenue composition by segments – Q3 2015 vs. Q2 2015 (in RM’mil) Performance in established segments driven by the underlying activities FPSO & FGS OSV 365.2 +9.1% +34.7% 137.4 125.9 271.1 Q2 2015 Q3 2015 Q2 2015 Q3 2015 Higher FPSO conversion activity driven by the Kraken Higher OSV utilisation dr
Slide 7: Revenue composition by segments – YTD 2015 vs. YTD 2014 (in RM'mil)
Revenue composition by segments – YTD 2015 vs. YTD 2014 (in RM’mil) Performance in established segments driven by the underlying activities OSV FPSO -9.4% 927.4 472.3 +39.8% 427.8 663.6 YTD 2014 YTD 2015 YTD 2014 YTD 2015 Higher conversion activity from the Kraken and Eni 1506 Decrease in OSV vessel
Slide 8: Revenue composition by geographical %
Revenue composition by geographical % Malaysia based international company continued expansion across key regions YTD 2014 YTD 2015 7% 9% 4% 13% 25% 26% 58% 58%
Slide 9: Leverage and capitalisation
Leverage and capitalisation Financial capacity intact to execute existing projects Net Debt / EBITDA(1) Gearing ratio(2) (1) Calculated based on YTD 2015 EBITDA (2) Gearing = Gross Debt / Shareholders Equity 9
Slide 10: Order book as at September 2015
Order book as at 30 September 2015 Quality firm order book increases to RM29.0 bn (Q2: RM25.8 bn) As at 30 September 2015, the Group’s firm order book stood at RM29.0 bn compared to RM25.8 bn as at 30 June 2015. Upon expiration of the firm contract period, certain contracts contain extension options
Slide 11: In summary
In summary Market remains challenging with oil prices trading between USD40-50/barrel. The FPSO and FGS businesses remain the core of the Company, generating 58% of the Group revenue for the first nine months of 2015. Focus on cost management and efficiency to continue. Major projects under
Slide 12: Thank you.
Thank you. “Knots Ahead of the Rest”