Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q3 2023 Earnings Presentation
18 slides from Bumi Armada Bhd's earnings presentation, Nov 1, 2023
Slide 1: Bumi Armada Berhad Financial Results Q3 2023
Bumi Armada Berhad Financial Results Q3 2023
Slide 2: Q3 2023 Health, Safety & Environment
Q3 2023 Health, Safety & Environment Armada Sterling FSU Armada LNG Mediterrana 10 years LTI free 6 years LTI free Armada Sterling II Armada Kraken 8 years LTI free 1 year LTI free Karapan Armada Sterling III Armada Constructor 6 years LTI free 6 years LTI free Armada Olombendo Armada Installer 1 ye
Slide 3: Q3 Corporate Social Responsibility
Q3 Corporate Social Responsibility • For Indonesian Independence Day, PT AGN collaborated with Sampang District in Madura, to provide food and drinks for the locals. • The Angola team has donated folding beds with mattresses to a local charity – The Mama Muxima Shelter. • The Indian team continued t
Slide 4: Q3 2023 Key Operations Update
Q3 2023 Key Operations Update Armada Kraken Armada Sterling V • Successfully re-instated HSP PF pumps D and A and • On location preparing for returned production to 100% of target. first oil. • Received two newly procured HSP PF Pump transformers. One installed offshore and thereafter achieved full
Slide 5: Q3 2023 Fleet Highlights
Q3 2023 Fleet Highlights FPSOs and FSU FPSOs and FSU Average Uptime Q4 2022 Q1 2023 Q2 2023 Q3 2023 Owned Units* (4) 99% 98% 93% 98% JV Units* (3) 100% 100% 100% 97% * Excludes Armada Claire and 98/2 vessels • Improved operational performance in Q3 2023, with Armada Kraken back to pre- transformer i
Slide 6: New Ventures
New Ventures Akia Production Sharing Contract (PSC) • A consortium comprising Armada Akia BV (Armada) as operator holding 51% participating interest and Pexco Tarakan NV (Pexco) holding 49% participating interest was awarded the Akia PSC signed on 21 September 2023. • The Akia PSC covers 8,394 squar
Slide 7: Q3 2023 Akia location map
Q3 2023 Akia location map fost Ambotot at Ambolot SY bed x - Akia Ory/Shows N Active Blocks Gas A AKIA BLOCK ° ol ow} ee NR Ges — Kilometers iN va BUMIARMADA ae
Slide 8: Q3 2023 Financial Performance
Q3 2023 Financial Performance 8
Slide 9: Q3 2023 Key Takeaways
Q3 2023 Key Takeaways Q3 2023 (versus Q2 2023) RM525m (RM441m) RM223m (RM176m) RM178m (RM119m) +19% Revenue +27% Operating profit +50% Net profit attributable to Owners of the Company RM213m (RM276m) ➢ Net current liabilities position of RM2,291m: -23% refinancing discussions ongoing for Sukuk Net o
Slide 10: Results Overview – Q3 2023 vs. Q2 2023
Results Overview – Q3 2023 vs. Q2 2023 RM'm Q2 2023 Q3 2023 Revenue 441.3 524.8 Revenue as operational performance of Armada Operating expenses (341.4) (335.7) Kraken has been fully restored in August 2023. Other operating income 74.4 33.4 Operating profit before impairment 174.3 222.5 Reversal of i
Slide 11: Cash Movement – Q3 2023
Cash Movement – Q3 2023 (All amounts shown are in RM’m) Cash Balance - Q3 2023 291 29 13 9 169 107 3 752 689 1 July 2023 Operating Net change in Interest Proceeds from Repayment of Interest paid Others 30 Sep 2023 Cash balance surplus before working capital received disposal of a borrowings (includi
Slide 12: 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 4.75 4.69 4.27 4.00 3.86 3.96 975 876 3.83 910 795 3.29 759 717 3.03 3.07 953 2.87 839 678 689 2.10 752 1.94 1.72 7,166 6,903 6,486 1.56 6,123 5,741 1.34 1.20 5,655 5,310 4,66
Slide 13: 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 5.9 46.0 37.8 6.9 14.9 0.5 33.6 1.7 31.9 275.2 274.6 276.4 263.4 621.6 1.4 256.1 242.2 251.9 599.2 226.4 222.5 554.1 572.5 201.3 511.3 522.1 529.1 524.3 174.3 506.2 4
Slide 14: Order Book as at 30 Sep 2023
Order Book as at 30 Sep 2023 ➢ 84% order book from Order book as at 30 Sep 2023 wholly-owned FPO units Firm contract RM8.7 bil RM1.9 bil ➢ Robust firm order book of RM10.6b period order book ➢ Certain contracts contain extension Optional extension RM8.4 bil RM1.4 bil options beyond firm contract per
Slide 15: 2023 Outlook
2023 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 15
Slide 16: 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 17: | a ae
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Slide 18: Thank You
KARAPAN ARWADA TERLING N va BUMIARMADA =