Seatrium Limited · SGX:5E2
Seatrium — Shareholder Meeting (April 2024)
12 slides from Seatrium's shareholder meeting presentation, Apr 26, 2024
Slide 1: 61st Annual General Meeting
61st Annual General Meeting 26 April 2024
Slide 2: Disclaimer
DISCLAIMER The material in this Presentation has been prepared by Seatrium Limited and contains general background information about the Company’s activities as at the date of this Presentation. No representation, warranty, or undertaking, express or implied, is made as to, and no reliance should be
Slide 3: 28 February 2023: A Transformative Combination
28 FEBRUARY 2023: A TRANSFORMATIVE COMBINATION Synergies from combined competencies and capabilities Enhanced competitiveness, i.e. greater scale and cost efficiencies Stronger operational and financial position 2
Slide 4: FY2023 Key Achievements
FY2023 KEY ACHIEVEMENTS INTEGRATED AS ONE STEATRIUM ✓ Implemented One Seatrium Delivery Model enabling global, end-to-end project execution ✓ Integrated people, processes and systems ✓ Identified S$300 million of annualised synergies & savings, S$200 million in procurement savings; On track to reali
Slide 5: FY2023 Financial Highlights
FY2023 FINANCIAL HIGHLIGHTS REVENUE REVENUE EBITDA UNDERLYING 1 EBITDA NET LOSS UNDERLYING 1 NET LOSS S$’m 7,291 S$’m Underlying1 S$’m Underlying1 EBITDA of net loss of S$628m FY2022 FY2023 S$28m + 274% 236 (261) 1,947 (2,017) FY2023 net loss includes exceptional (7) items of S$2.1 billion, comprisi
Slide 6: Stronger Balance Sheet
STRONGER BALANCE SHEET 31 December 31 December S$ million +/(-) % 2022 2023 Net Current (Liabilities) / Assets (301) 55 n.m. Net Debt 998 747 (25) Shareholders’ Funds 3,769 6,395 70 Net Leverage1 n.m. 3.2 - Transformed balance sheet to “Net Current Asset” position Recalibrated debt with average loan
Slide 7: Our Strategy: To build a profitable and resilient business
OUR STRATEGY: To build a profitable and resilient business S$0.5 trillion opportunity in the next 5 years1 Oil & Gas Offshore Wind Repairs & Upgrades CCS & New Energies Reinforce our leadership Accelerate transition and Grow baseload of Invest selectively for in production assets position for floati
Slide 8: One Seatrium Delivery Model
ONE SEATRIUM DELIVERY MODEL: Coordinated global network to deliver increasingly complex products OUR GLOBAL FOOTPRINT PARTNERSHIPS & OUTSOURCING COMMERCIAL PARTNERS TECHNOLOGY PARTNERS Yard assets Engineering centres Technology centres Proprietary Total area 3 4000+ SUBCONTRACTORS Market Access 7.6m
Slide 9: ESG: Operate under highest standards, embed sustainability as a business opportunity
ESG: Operate under highest standards, embed sustainability as a business opportunity ENVIRONMENT SOCIAL GOVERNANCE Engineering innovative solutions Promoting diversity & inclusion, Mitigating enterprise risks through by operating sustainably human rights, safety and well-being multiple layers of che
Slide 10: By 2028, We Target to Consistently Achieve
BY 2028, WE TARGET TO CONSISTENTLY ACHIEVE … ≥ S$1.0b ≥ 8.0% c. 2.0-3.0x EBITDA Return on Equity Net Debt/EBITDA … VERSUS FY23 > 4x uplift Turnaround Sustain > 4x 9 This information is confidential; it is not to be relied on by any 3rd party without prior written consent. RESTRICTED SNG Board Transf
Slide 11: Key Priorities for 2024
KEY PRIORITIES FOR 2024: Improve Business Performance and Total Shareholder Return Capture synergies and cost savings ▪ Identify further initiatives to drive a leaner cost structure Laser-focused on execution of order book ▪ Deliver projects safely, on time and on budget Secure new order wins and gr
Slide 12: Engineering Our Future Together
Engineering Our Future Together 11