Slide 1: Presentation 1st Quarter 2014
Presentation 1st Quarter 2014 Langevåg 15.05.2014 CEO Jan Fredrik Meling
Slide 2: News in 1st Quarter 2014
News in 1st Quarter 2014 Lundin Petroleum hires “Viking Queen” for 15 wells (minimum 900 days) with option for further 5 wells. Commencement of contract is ultimo 2014. The vessel will be upgraded with FI-FI II and NOFO 2009.
Slide 3: 1st Quarter 2014 results
1st Quarter 2014 results (1st Quarter 2013 in brackets) Revenues MNOK 220,5 (213,2) EBITDA: MNOK 88,6 (101,6) Operating profit MNOK 26,7 (34,4) Pre-tax profit: MNOK 32,7 (-32,9)
Slide 4: Results 1st Quarter 2014
Results 1st Quarter 2014 (in million NOK, Gain on sale excluded) The results in 1st Quarter compared to last year are Operating revenue Q1 influenced of: 230 -Viking Poseidon, Subsea Viking and Viking Queen had yard 220 stays and were offhire parts of the period. 220 221 210 213 -Viking Forcados was
Slide 5: Cash Flow (in million NOK)
Cash Flow (in million NOK) 1st Quarter 1st Quarter 2014 2013 2013 Net cashflow from operating activities 85,1 46,6 483,0 Net cashflow from investment activities (28,0) (81,7) 110,7 Net cashflow from finance activities (161,0) (115,6) (265,9) Net changes in cash holdings (103,9) (150,7) 327,8 Cash at
Slide 6: Balance - Equity ratio 31.03.14: 43 % (40 %)
Balance (in million NOK) 6 000 Current assets Short-term liab. Current assets Short-term liab. 5 000 4 000 Long-term liabilities Long-term liabilities 3 000 Fixed assets Fixed assets 2 000 1 000 Equity Equity 0 Assets Equity and Assets Equity and 31.03.14 Liabilities 31.03.13 Liabilities 31.03.14 31
Slide 7: Segments
Segments Incl. Share of Joint Ventures Excluded gain on sale (MNOK) 1st Quarter 2014 Seismic Subsea Supply Other Revenue 71,8 83,3 101,9 5,5 EBITDA 64,5 30,0 39,2 -12,3 Revenue Q4 2013 EBIT 36,5 2,3 8,2 -12,7 EBITDA margin 90% 36% 39% N/A EBIT margin 51% 3% 8% N/A 1st Quarter 2013 Seismic Subsea Sup
Slide 8: Contract backlog (per 31.12.2013)
Contract backlog (per 31.12.2013) 8
Slide 9: Contract status seismic
Contract status seismic Viking Vanquish Viking Vision Veritas Viking Viking 2 Veritas Vantage Geo Searcher Oceanic Vega Oceanic Sirius 2014 2015 2016 2017 2018
Slide 10: Contract status subsea
Contract status subsea Subsea Viking Acergy Viking Viking Poseidon European Supporter Seven Viking Kleven no 365 2014 2015 2016 2017 2018
Slide 11: Contract status supply
Contract status supply Viking Queen Viking Lady Viking Athene Viking Energy Viking Avant Viking Nereus Viking Prince Viking Princess 2014 2015 2016 2017 2018
Slide 12: Market
Market We expect high activity in oil service in the next years, although we see some projects being delayed. Still, there is high exploration activity including in deep water areas, and many discoveries are being made. This contributes to our positive market view in the coming years. There is still
Slide 13: Thanks for Your attention!
Eidesvik Thanks for Your attention!