Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q4 2011 Earnings Presentation
17 slides from Bumi Armada Bhd's earnings presentation, Feb 27, 2012
Slide 1: Bumi Armada Berhad 4Q 2011 Results
BUMI ARMADA BERHAD 4Q 2011 Results 27th February 2012 “Knots Ahead of the Rest”
Slide 2: Disclaimer
Disclaimer This document may contain statements of future expectations and 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, or e
Slide 3: Results overview – FY 2011
Results overview – FY 2011 Revenue Net Profit* 1,543.9 359.7 350.8 1,241.4 FY 2010 FY 2011 FY 2010 FY 2011 PAT of RM 365m, after one Revenue of RM 1.5 billion, YoY Growth time IPO listing and call of 24% driven by higher activity across EBITDA option expenses of RM 27.7m, business segments adjusted
Slide 4: Business Highlights
Business Highlights “Knots Ahead of the Rest”
Slide 5: Completion of the Sepat FSO installation
Completion of the Sepat FSO installation Installation and hook-up of the Sepat FSO was completed using the Armada Hawk 4
Slide 6: FPSO D1 conversion on-going
FPSO D1 conversion on-going 5
Slide 7: Business Highlights
Business Highlights Floating, Production, Storage, and Offloading (FPSO) Secured two new FPSO contracts for ONGC (India) and Apache (Australia) in 2011, out of a total of 9 lease FPSO contracts awarded during the year. Offshore Support Vessels (OSV) Utilisation of the fleet has improved through the
Slide 8: Financial Highlights
Financial Highlights “Knots Ahead of the Rest”
Slide 9: PATMI & EBITDA Growth – QoQ and YoY
PATMI & EBITDA Growth – QoQ and YoY PATMI Growth (RM M) 1,100.0 EBITDA Growth (RM M) 26% Operating EBITDA 899.6 900.0 27.7 Operating EBITDA 714.1 700.0 10% 500.0 9% 500.0 Normalized EBITDA 450.0 Normalized PATMI 871.9 9% PATMI 387.4 Operating EBITDA 400.0 Operating EBITDA 714.1 350.8 27.7 EBITDA 350
Slide 10: Robust Quarter on Quarter PATMI performance
Robust Quarter on Quarter PATMI performance Revenue (RM m) EBITDA (RM m) and EBITDA margin 450.0 73% 400.0 57% 70% 350.0 50% 403.9 300.0 272.5 30% 370.9 250.0 230.3 200.0 10% 150.0 -10% 100.0 -30% 50.0 - -50% Q3 2011 Q4 2011 Q3 2011 Q4 2011 PATMI (RM m) and PATMI margin Q4 EBITDA and PATMI increased
Slide 11: Revenue composition by business unit
Revenue composition by business unit Revenue by business unit (RM m) Contribution to Revenue by Business Unit 1,600.0 1,543.9 100% 14% 210.5 90% 22% 1,400.0 1,241.4 80% - 16% 1,200.0 242.3 268.3 70% 1,000.0 60% 34% 31% 481.9 800.0 50% 419.7 40% 600.0 30% 400.0 44% 609.2 20% 39% 553.4 200.0 10% - 0%
Slide 12: Leverage and capitalization
Leverage and capitalization Net Debt / EBITDA Gearing ratio 6.0x 6.0x 5.1x 5.0x 4.9x 4.8x 5.0x 4.0x 3.9x 4.0x 4.0x 3.4x 3.0x 3.0x 2.0x 2.0x 2.0x 1.0x 0.9x 1.0x 0.0x 0.0x 2008 2009 2010 2011 2008 2009 2010 2011 YoY Net debt to EBITDA reduced to 2x YoY Gearing ratio reduced to 0.9x 11
Slide 13: Order book
Order book As at 31 December 2011, the Group’s order book stood at RM6.9 billion*. Upon expiration of the firm contract period, certain contracts contain extension options which are renewable on annual basis with a total potential contract sum of RM3.0 billion over the entire option periods. Firm co
Slide 14: Outlook & Prospects
Outlook & Prospects “Knots Ahead of the Rest”
Slide 15: Crude oil – The leading indicator
Crude oil – The leading indicator Production cost and type of field development 100 Arctic Productioncost US$/bbl Deepwater & Ultra 80 Deepwater Oil Gas to Shales Liquids 60 E O Heavy R Oil 40 20 Other Produced Middle Conventional East 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 Billion barrel
Slide 16: Business Outlook – Firing on all cylinders in 2012
Business Outlook– Firing on all cylinders in 2012 FPSOs Prospects in Malaysia, Indonesia, India and West Africa. Likely to bid 6 projects. Looking to secure 2 projects annually. OSVs Taken delivery of our first of two new Platform Supply Vessels (PSVs), which has secured a contract in Brazil. Secure
Slide 17: Bumi Armada Berhad
BUMI ARMADA BERHAD KNOTS AHEAD OF THE REST “Knots Ahead of the Rest”