Perdana Petroleum Bhd. · MYX:PERDANA
Perdana Petroleum Bhd — Q3 2024 Earnings Presentation
18 slides from Perdana Petroleum Bhd's earnings presentation, Nov 21, 2024
Slide 1: 3Q FY2024 Financial Results
3Q FY2024 FINANCIAL RESULTS ANALYSTS & FUND MANAGERS SNAPSHOT 21st November 2024
Slide 2: Disclaimer
DISCLAIMER This presentation is provided on a strictly private and confidential basis and is being supplied to you solely for your information and for discussion purposes only. All information contained in this presentation belongs to Perdana Petroleum Berhad (the “Company” or “PPB”) and may not be
Slide 3: Corporate Structure
Naim Corporate Structure Holdings PERDANA PETROLEUM BHD provides offshore marine services for the upstream oil & gas Bhd industry in the domestic and regional market via our main operating subsidiaries: *24.2% • Intra Oil Services Bhd (Ship Manager and Operator) • Perdana Nautika Sdn Bhd (PETRONAS L
Slide 4: Corporate Milestone
2011 1995 • Changed name to Perdana Incorporated as a 2003 Petroleum Bhd private limited • Transferred to Main 2007-2015 • Acquired balance of 45% in company. Board of KLSE Fleet Renewal Perdana Nautika Sdn Bhd • Acquired Intra Oil Programme by 2015 Services Bhd & acquiring 19 vessels 1997 Becomes a
Slide 5: Our Fleet
We own and operate a well-balanced fleet of vessels comprising a strategic mix of AHTS, workbarges and workboats capable of operating in greenfield and brownfield segments. Our Fleet The vessels conform to the standard requirement of IACS (International Association of Classification Exploration and
Slide 6: Total accommodation space up to 1,838 pax
300 pax Accommodation Workbarge 169 pax Accommodation Workboat Perdana Perdana Perdana Perdana Emerald Endurance Excelsior Liberty Perdana Perdana Perdana Protector Resolute Sovereign Total accommodation space up to 1,838 pax 6
Slide 7: Anchor Handling Tug Supply
Anchor Handling Tug Supply Perdana Perdana Perdana Perdana Marathon Expedition Horizon Voyager DP2 12240 BHP DP2 10880 BHP DP2 10880 BHP DP2 10880 BHP Perdana Perdana Perdana Perdana Adventurer Traveller Frontier Ranger DP2 10800 BHP DP2 10800 BHP DP1 5220 BHP DP1 5220 BHP 7
Slide 8: Awards & Accolades
Awards & Recognition through awards and accolades holds profound importance in the oil & gas sector’s offshore support vessel services, with a particular emphasis on Health, Safety and Environment (“HSE”) achievements. These awards serve as a meaningful reflection of PPB’s endeavours of adhering to
Slide 9: Improving Global Oil and Gas Outlook Driven by Recovery in Oil Prices
IMPROVING GLOBAL OIL AND GAS OUTLOOK DRIVEN BY RECOVERY IN OIL PRICES 150.0 117.3 122.7 100.0 93.7 89.8 50.0 86.5 76.0 22.8 0.0 Apr'24 Jun'20 Jun'21 Jun'22 Jun'23 Sep'20 Dec'20 Sep'21 Dec'21 Sep'22 Dec'22 Sept'23 Dec'23 Feb'24 May'24 Aug'24 Sept'24 Jan'20 June'24 July'24 Mar'20 Jan'21 Mar'21 Jan'22
Slide 10: PETRONAS Remains Committed to Support the O&G Sector
PETRONAS REMAINS COMMITTED TO SUPPORT THE O&G SECTOR ▪ Malaysian Oil, Gas and Energy Services Council (MOGSC) has commended the recent awarding of landmark contracts for integrated well continuity services (ICWS) and maintenance, construction, and modification (MCM) services to oil and gas services
Slide 11: OSV Market Outlook 2024
OSV MARKET OUTLOOK 2024 • OSV market have been reinvigorated currently at a higher rates and higher utilisation levels after some seven years of oversupply, however newbuilds are still not yet in the cards. • The high cost of construction, high price of financing and high uncertainty around new fuel
Slide 12: Latest 5 Years Key Financial Ratios
LATEST 5 YEARS KEY FINANCIAL RATIOS < --------------------- Audited -------------------- > Unaudited Financial Year 2020 2021 2022 2023 YTD 2024 Revenue (RM'm) 208 154 197 314 351 EBITDA (RM'm) 38 (196) 81 125 212 PAT (RM'm) (66) (328) 11 44 117 EBITDA Margin % 19% -128% 41% 40% 60% PAT Margin % -32
Slide 13: Financial Performance of Third Quarter – Key Financial Highlights
FINANCIAL PERFORMANCE OF THIRD QUARTER – Key Financial Highlights % 2024 2023 % Changed • The higher revenue in 3rd quarter of 2024 was attributed to higher vessel UTILISATION utilisation at 78% against 76% QoQ. The shortage of offshore support vessels for offshore production and operation activitie
Slide 14: Financial Overview for the Financial Year Ended Dec 2024
FINANCIAL OVERVIEW FOR THE FINANCIAL YEAR ENDED 31 DEC 2024 FINANCIAL PERFORMANCE CAPITAL STRUCTURE (RM’mil) (RM’mil) YTD RM’mil 2021 2022 2023 YTD 2024 2021 2022 2023 2024 76% Total Asset 823 823 919 894 400 80% 58% Total Equity 585 548 666 677 300 70% 59% Total Debts* 256 203 154 123 200 49% 351 6
Slide 15: Fleet's Performance – Utilisation & Tender Book
FLEET’S PERFORMANCE – UTILISATION & TENDER BOOK Lower fleet utilization on the back of tail-ending monsoon period. QoQ & YoY Fleet Utilisation Tender OngoingBook Key Tenders Rate (%) AHTS AWB WB Quarter Tender Vessel Type - Proposed Estimated 100% Provided By Unit Duration Commencement 90% 58% 89% 8
Slide 16: Way Forward 2024
WAY FORWARD 2024 Operational Excellence, Cost Optimisation, Balance Portfolio and Maximise Utilisation Rates • To take advantage of the improved charter rates in the current market and remains committed to continue, improve and expand from FY2023. • To manage operations prudently to adapt to the rap
Slide 17: Key Takeaways
KEY TAKEAWAYS HEALTHY BALANCE SHEET Gearing level at 0.18x STRONG FINANCIAL PERFORMANCE Recorded a 3rd Quarter PAT of RM75.8 million in and YTD of RM116.6 million SOLID ORDER BOOK AND FOCUS ON CORE BUSINESS Order book approximately RM420 million up to 2026 with the right asset class on AHTS and AWB
Slide 18: Perdana Petroleum Berhad contact details
Perdana Petroleum Berhad (199501042909) Intra Oil Services Berhad (198001007912) Perdana Nautika Sdn Bhd (201001038637) Level 18, Block 2, VSQ @ PJCC, Jalan Utara Follow Us 46200 Petaling Jaya, Selangor Darul Ehsan, Malaysia A black letter f in a white circle Description automatically generated with
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