Ocean Yield ASA — Q4 2021 Earnings Presentation
10 slides from Ocean Yield ASA's earnings presentation, Feb 14, 2022
Slide 1: Q4 2021 Presentation
Q4 2021 PRESENTATION 14th February 2022
Slide 2: An Eventful Quarter for Ocean Yield
AN EVENTFUL QUARTER FOR OCEAN YIELD • Ownership change - Completion of voluntary offer and compulsory acquisition; Ocean Yield now 100% owned by funds advised by KKR - Delisting from Oslo Stock Exchange - Consent received from banks and bondholders - Conversion from ASA to AS - New Board of Director
Slide 3: An Active Quarter on the Investment Side
AN ACTIVE QUARTER ON THE INVESTMENT SIDE 1• Six VLCCs - Six VLCCs, five built in 2016 and one built in 2015 - Delivered to Ocean Yield in November 2021, upon which the vessels commenced 10 year bareboat charters to International Seaways - Net investment of USD 375 million, out of which USD 291 milli
Slide 4: Long-Term Charters Secures Stable Cash Flow
LONG-TERM CHARTERS SECURES STABLE CASH FLOW EBITDA backlog1 per year EBITDA backlog1 per segment Charter status as (USDm) % of book value of portfolio LONG-TERM CASH FLOW VISIBILITY, 96% OF PORTFOLIO EMPLOYED EBITDA BACKLOG OF USD 3.1 BN 9.2 YEARS AVERAGE DURATION ON LONG-TERM CHARTERS 1) EBITDA bac
Slide 5: Financial Snapshot
FINANCIAL SNAPSHOT Adjusted net profit Q4 2021 Key financials USD million
Slide 6: Income Statement
INCOME STATEMENT INCOME STATEMENT
Slide 7: Adjusted EBITDA and Net Profit
ADJUSTED EBITDA AND NET PROFIT ADJUSTMENTS Q3 Q4 Amounts in USD million 2021 2021 EBITDA 33.0 41.5 Repayment on finance lease receivables 21.8 24.6 EBITDA adjusted for finance lease effects 54.7 66.1 Net profit (loss) for the period (2.5) 17.9 Impairment of Dhirubhai-1 16.4 Gain from acquisition of
Slide 8: Balance Sheet
BALANCE SHEET BALANCE SHEET Qs a4 Qs 4 Amounts in USD million 2021 2021 2021 2021 ASSETS EQUITY AND LIABILITIES Common equity 529 538 Vessels and equipment 530 523 Hybrid capital 125 125 Investments in associates 181 183 Total equity 654 663 Finance lease receivables 1,050 1,295 Restricted cash depo
Slide 9: Outlook and Strategic Priorities
OUTLOOK AND STRATEGIC PRIORITIES 1 Ocean Yield is in a robust financial position and access to financing remains strong 2 The portfolio remains well performing and the counterparty credit quality is solid 3 The company has a new strong owner with high ambitions for the company 4 Continuation of curr
Slide 10: Investor Relations
INVESTOR RELATIONS Eirik Eide, CFO +47 24 13 01 91 Eirik.eide@oceanyield.no www.oceanyield.no/IR