Eidesvik Offshore Asa · OSL:EIOF
Eidesvik Offshore Asa — Shareholder Meeting (May 2021)
18 slides from Eidesvik Offshore Asa's shareholder meeting presentation, May 26, 2021
Slide 1: Annual General Meeting
Annual General Meeting Bømlo, May 26, 2021 Jan Fredrik Meling, CEO
Slide 2: Subsea/Offshore wind, Supply, Seismic
Subsea/Offshore wind Supply Seismic 4 vessels 6 vessels + 2 on management 4 vessels Revenues MNOK 531 379 employees Operates 16 vessels 2
Slide 3: Consequences of the decline in Oil price and Covid-19
Consequences of the decline in Oil price and Covid-19 The World-wide outbreak of the Covid-19 virus in 2020, in combination with the unprecedented decline in demand for oil and thus dramatic drop in oil prices, led oil companies to implement cost and capex saving measures that reduced demand for oil
Slide 4: The offshore wind market
The offshore wind market Siemens Gamesa Renewable Energy extended the charter of Acergy Viking by five additional years in January 2021. The firm period will end January 2027, with options thereafter. Viking Neptun worked for DEME Offshore from November 2020 to mid March 2021. 4
Slide 5: The Subsea market
The Subsea market Viking Neptun worked for Havfram for approx. six months in 2020. Viking Neptun went to 5 year class in 1st Quarter 2020, and during 2020 battery hybrid solutions were installed on board. 5
Slide 6: The Supply market
The Supply market The contracts with Equinor for Viking Avant and Viking Energy were extended to respectively ultimo 2022 and ultimo April 2025. In addition, Viking Queen is on contract with Equinor through 2021. At year end 2020, Eidesvik had Viking Prince and Viking Lady on charter to Aker BP unde
Slide 7: Green Ammonia Energy
GREEN AMMONIA ENERGY ©, bes WARTSILA [RWW & Z Fraunhofer CM Prototech Imm STAR BULK Norwegian Centres of Expertise CE Maritime CleanTech Strathclyde Gl NORWEGIAN CATAPULT CENTRE "@\ NORTH SEA | < EXECUTIVE “4 SHiPPINc
Slide 8: The Seismic market
The Seismic market The sale of Global Seismic Shipping AS («GSS») was completed on January 8, 2020. As consideration for Eidesvik’s shares in GSS, Eidesvik received shares in Shearwater GeoServices Holding AS (the "Consideration Shares"). CGG SA and Eidesvik agreed on a put option for Eidesvik at US
Slide 9: The Seismic market
The Seismic market At start of 2020, Vantage and Subsea Viking was on charter to Seabed Geosolutions (“SBGS”) under the Master Time Charter Agreement. Due to Covid-19 challenges, the contract for Vantage was cancelled in the start of April 2020, and the vessel has thereafter been in layup. The contr
Slide 10: LTI 2020
Eidesvik 10 35 5 15 1 201 18 3 1 a = 6 First Aid ra | 2017 millness LT] 2020 m Lost Time Incident Medical Treatment 30 24 3 2 2 2 2 1 1 ‘Hall 2 - alll 2018 2019 = RWC 25 H- mi.
Slide 11: Innovation - An industry pioneer
Innovation - An industry pioneer Viking Energy 2003 Viking Prince and World’s first LNG cargo vessel Viking Princess 2012 2016: First BATTERY POWER hybrid LNG platform supply vessels 2018: Shore Power 2017: First to replace Genset 2020-2024: Ammonia Fuel cell project with Hybrid Viking Avant 2005 Ne
Slide 12: Battery Hybrid Projects
Battery Hybrid Projects 7 Battery Hybrid Projects MNOK 180,0 - Gross investment cost MNOK 66,3 - by Enova, NOx fund, NFR MNOK 113,7 – Net investment cost 5,2 years - Average payback time 2 860 t – Annual fuel saving Approx. 8 700 t – Annual CO2 reduction
Slide 13: Results 2020
Results 2020 (in million NOK) EBITDA 2020 vs. 2019 (MNOK -112.1): Operating revenue Seismic: Decrease of freight income of MNOK 147.5, decrease in the total operating expenses of MNOK 37.7. Net decrease in EBITDA of MNOK 109.8. 600 49 Subsea: Increase of freight income of MNOK 3.1, increase in the t
Slide 14: Balance
Balance (in million NOK) 3 500 Short-term liabilities 3 000 Current assets Short-term liabilities Current assets Asset held for sale 2 500 2 000 Long-term liabilities Long-term liabilities 1 500 Fixed assets Fixed assets 1 000 500 Equity Equity 0 Assets 31.12.2020 Equity and Liabilities Assets 31.12
Slide 15: Contract Status
der Contract Status Soven Viking Viking Neptun Subsea Viking Acergy Viking Viking Queen Viking Lady Viking Princess Viking Prince Viking Athene SOLD Q2-21 Viking Energy Viking Vanquish | LayUP Viking Vision | LAYUP Veritas Viking De Vantage | LAYUP 01.01.2021 01.01.2022 01.01.2023 01.01.2024 l=Firm
Slide 16: Consolidated total contract backlog Q1 2021 is MNOK 943
Consolidated total contract backlog Q1 2021 is MNOK 943 (incl. all new contracts per May 19, 2021) 16
Slide 17: Debt maturity profile 31.3.2021
Debt maturity profile 31.3.2021 2 200 2 000 1 800 1 600 1 400 1 200 Millions 1 539 1 000 800 600 400 200 180 315 260 0 Rest of 2021 2022 After 2022 Instalments Balloons 17
Slide 18: Thanks for Your attention!
Eidesvik Thanks for Your attention!