Slide 1: 1 quarter 2015
1 quarter 2015 13 May 2015 Business segments as of 13 May 2015 62.7% Bonheur ASA (listed OSE) Ganger Rolf ASA (listed OSE) 20.7% Offshore drilling Renewable energy Shipping/Offshore wind Cruise Other investments 51,9% 100% 100% 100% Fred. Olsen Energy ASA Fred. Olsen Fred. Olsen Ocean Ltd. Fred. Ols
Slide 2: Bonheur ASA - Highlights 1Q 2015
Bonheur ASA - Group of Companies - Highlights 1Q 2015 (1Q 14 in brackets) Operating revenues were NOK 3 707 million (NOK 2 700 million) Operating result before depreciation (EBITDA) was NOK 1 635 million (NOK 875 million) Operating result (EBIT) was NOK 724 million (NOK 346 million) Net result NOK 6
Slide 3: Segment analysis EBITDA
Bonheur ASA - Group of Companies - Segment analysis EBITDA 1Q 15 1Q 14 Change Offshore drilling 1 224 622 602 Renewable energy 310 220 90 Shipping/Offshore wind 70 57 12 Cruise 49 14 35 Other -17 -38 21 Total EBITDA 1 635 875 760 5 Bonheur ASA - Group of Companies - Segment analysis EBITDA 6 3
Slide 4: Condensed statement of Financial position
Bonheur ASA - Group of companies - Condensed statement of Financial position (NOK million) Per 31.03.15 Per 31.12.14 Per 31.03.15 Per 31.12.14 Intangible fixed assets 1 078 1 060 Deferred tax asset 292 275 Equity owned by shareholders in parent co. 8 574 7 930 Property, plant and equipment 32 638 30
Slide 5: Ganger Rolf ASA - Consolidated summary
Ganger Rolf ASA - Group of companies - Consolidated summary (NOK million) 1Q 15 1Q 14 Revenues 0 0 EBITDA -15 -16 EBIT -16 -17 Share of result from associates 224 73 Net finance -2 -18 EBT 207 38 Net result 208 39 9 Ganger Rolf ASA - Group of companies - Segment analysis - Net result Net result per
Slide 6: Ganger Rolf ASA - Condensed statement of Financial Position
Ganger Rolf ASA - Group of companies - Condensed statement of Financial Position Per 31.03.15 Per 31.12.14 (NOK million) Deferred tax asset 0 0 Property, plant and equipment 34 34 Investments in associates 7 703 6 848 Other financial fixed assets 558 574 Total non-current assets 8 295 7 456 Trade an
Slide 7: Offshore drilling - Financial summary 1Q 2015
Offshore drilling - Financial summary 1Q 2015 (1Q 2014 in brackets) Revenues were USD 284 million (USD 278 million) EBITDA were USD 157 million (USD 102 million) Operating profit (EBIT) was USD 66 million (USD 39 million) Profit before tax was USD 75 million (USD 25 million) Earnings per share were
Slide 8: Offshore drilling - Contract overview and key financials
Offshore drilling - Contract overview as per 13 May 2015 2015 2016 2017 2018 2019 2020 Bolette Anadarko Bollsta Chevron Belford Anadarko1) Blackford Chevron Bideford Statoil Borgland RMN consortium Bredford AGR cons Byford BP Borgsten Total Borgholm BG Borgny Cold stacked 1) Terminated for convenien
Slide 9: Renewable energy - Overview
Renewable energy Fred. Olsen Renewables AS Renewable energy - Overview Total production capacity of 504.1 MW Six operating wind farms in Scotland (432.8MW) One operating wind farm in Norway (71.3 MW) Construction: Fäbodliden (78 MW) in Sweden. The construction has commenced with expected completion
Slide 10: Business Model and Project Portfolio
Business Model and Project Portfolio Site Investigation Development Consented Construction Operation Scotland Scotland – 100-180 MW Scotland Sweden Scotland Crystal Rig extension Windy Standard II – 75 MW Fäbodliden 78 MW Crystal Rig – 62.5 MW Norway Rothes extension Crystal Rig II - 138.0 MW Sweden
Slide 11: Renewable energy - Key financials
Projects in Scandinavia Renewable energy - Key financials NOK mill. As per Q1 (NOK million) 2015 2014 Revenues 392 281 EBITDA 310 220 EBIT 209 150 450 EBT 155 108 400 Non-current assets 4 745 3 765 350 Current assets 1 866 1 521 300 Total assets 6 611 5 286 250 Equity 1 462 810 Interest bearing debt
Slide 12: Shipping / Offshore wind
Renewable energy - Wind farms 23 Shipping / Offshore wind Fred. Olsen Ocean Ltd. - Fred. Olsen Windcarrier AS - Universal Foundation Norway AS 12
Slide 13: Shipping / Offshore wind - Overview and key financials
Shipping / Offshore wind - Overview Fred. Olsen Windcarrier Two transport and installation jack-up vessels for offshore wind turbines; “Brave Tern” (2012) and “Bold Tern” (2013) Contracts: Commissioning support contract for Brave Tern at the «Global Tech I» wind farm for Areva in the German exclusiv
Slide 14: Cruise
Shipping / Offshore wind - Vessels 27 Cruise Fred. Olsen Cruise Lines Ltd. 14
Slide 15: Cruise - Overview and key financials
Cruise - Overview Owns and operates four cruise ships; MV Black Watch MV Braemar MV Boudicca MV Balmoral Offers a diverse range of cruise holidays from long round the world trips to ex UK cruises to Scandinavia, Mediterranean and Canary Island Total passenger capacity: 3 700 29 Cruise - Key financia
Slide 16: Other Investments
Cruise – Ships Boudicca Braemar Balmoral Black Watch 31 31 Other Investments NHST Media Group AS - Koksa Eiendom AS - Various 16
Slide 17: Other investments - Overview
Other investments - Overview NHST Media Group AS (54.0%) Comprising four main business segments; Dagens Næringsliv, Digital & Nordic (New Media, Europower, TDN), Global (Tradewinds, Upstream, Intrafish and Recharge) and Nautical Charts Fully consolidated in BON as from second quarter 2014. Operating