Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q2 2021 Earnings Presentation
15 slides from Bumi Armada Bhd's earnings presentation, August 2021
Slide 1: Bumi Armada Berhad Q2 2021 Financial Results
Bumi Armada Berhad Q2 2021 Financial Results
Slide 2: Health, Safety and Environment
Bumi Armada Q2 2021 Health, Safety and Environment Key HSE Milestone Achievements • Armada TGT 1 - 10 years LTI free • Armada Olombendo FPSO - 4 years LTI free • FSU Armada LNG Mediterrana - 4 years LTI free • Armada Sterling - 8 years LTI free • Armada Sterling II - 6 years LTI free • Karapan Armad
Slide 3: FPO Performance
Bumi Armada Q2 2021 FPO Performance Revenue (RM) Segment Results (RM) Average Uptime Q3 2020 Q4 2020 Q1 2021 Q2 2021 Owned Units* (4) 99% 99% 98% 99% 533.1 mil 344.7 mil JV Units (3) 100% 98% 99% 100% * Excludes Armada Claire • Solid Q2 performance with challenges associated with COVID 19 being mana
Slide 4: OMS Performance
Bumi Armada Q2 2021 OMS Performance Revenue (RM) Segment Results (RM) Utilisation Q3 2020 Q4 2020 Q1 2021 Q2 2021 OSV Fleet 56% 49% 44% 70% 82.5 mil 7.2 mil • Higher OMS revenue due to higher OSV utilisation in Q2 2021 vs Q1 2021 and disposal of laid-up vessels. • Vessel utilisation in Q2 2021 was 7
Slide 5: Financial Performance
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Slide 6: Key Takeaways
Key Takeaways • Q2 2021 versus Q1 2021 Revenue 9% to RM616mil. Gross profit 5% to RM237mil. FPO revenue 8% to RM533mil. OMS revenue 22% to RM82mil. Impairment of RM104mil in Q2 2021. Gain on sale of vessels RM12mil. Operating profit before impairment (2) <1% to RM279mil. Group net prof
Slide 7: Financial Performance Over Time
Financial Performance Over Time (All amounts shown are in RM’ mil) Revenue Operating Profit before Impairment (2) FPO OMS 85.6 84.0 82.5 90.5 93.9 67.6 92.0 74.0 96.1 66.0 278.2 279.2 248.6 241.9 246.6 222.1 214.6 532.1 533.1 201.3 521.2 470.5 495.1 167.0 425.6 443.6 453.9 419.5 462.1 150.5 Q1 Q2 Q3
Slide 8: Results Overview – Q2 2021 vs. Q1 2021 (RM' mil)
Results Overview – Q2 2021 vs. Q1 2021 (RM’ mil) Revenue Segment Results FPO OMS FPO OMS 615.6 368.2 562.7 82.5 67.6 +9% 12.5 -5% 351.9 7.2 495.1 533.1 355.7 344.7 Q1 2021 Q2 2021 Q1 2021 Q2 2021 FPO: • Revenue increased mainly due to higher vessel availability for Armada Kraken FPSO. • Segment resu
Slide 9: Results Overview – Q2 2021 vs. Q1 2021 (RM' mil)
Results Overview – Q2 2021 vs. Q1 2021 (RM’ mil) Operating Profit before Net Profit (1) before Impairment (2) Impairment (2) +<1% +50% 278.2 279.2 243.6 162.8 Q1 2021 Q2 2021 Q1 2021 Q2 2021 • Operating profit before impairment increased marginally compared to Q1 2021. • Increased net profit before
Slide 10: Order Book as at June 2021
Order Book as at 30 June 2021 As at 30 June 2021, the Group’s firm order book stood at RM14.9bil. Upon expiration of the firm contract period, certain contracts contain extension options which are renewable on an annual basis with a total potential value of RM9.5bil over the entire optional extensio
Slide 11: Outlook
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Slide 12: Outlook
Outlook While there are ongoing concerns on the impact of the COVID-19 pandemic, the Group expects the FPO business to be relatively stable for the remainder of 2021. The OMS business is anticipated to contract over time in line with the Group’s on-going plan to monetise surplus assets. Safety of al
Slide 13: Forward Looking Disclaimer
Forward Looking Disclaimer This presentation may contain statements of future expectations an 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
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