Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q2 2022 Earnings Presentation
20 slides from Bumi Armada Bhd's earnings presentation, Aug 1, 2022
Slide 1: Bumi Armada Berhad Financial Results Q2 2022
Bumi Armada Berhad Financial Results Q2 2022
Slide 2: Health, Safety & Environment
Q2 2022 Health, Safety & Environment Armada Sterling II Armada TGT 1 7 years LTI free 10 years LTI free FSU Armada LNG Mediterrana Armada Sterling 5 years LTI free 9 years LTI free Karapan Armada Sterling III Armada Kraken 4 years LTI free <1 year LTI free Armada Olombendo <1 year LTI free • Increas
Slide 3: Sustainability
Q2 2022 Sustainability • Released Climate Change Policy and commitment as part of our Sustainability Statement. • Ongoing studies to lower emissions on new vessels with green engineering. • Ongoing studies on better flare management on existing vessels. • Initiated the implementation of ISO 50001 En
Slide 4: Sustainability Community Level
Q2 2022 Sustainability Community Level Wildlife Rehabilitation Centre Xrobb l-Ghagin, Malta Armada Floating Gas Services Malta Ltd. Supports the Wildlife Rehabilitation Centre for the rehabilitation of whales, dolphins, and porpoises. HCMUT Scholarship Program Awarded scholarships to engineering stu
Slide 5: Key Operations Update
Q2 2022 Key Operations Update Armada Kraken • Completed annual BEIS inspection • Milestone Reached 56.1 million barrels produced Armada LNG Armada TGT Mediterrana • Milestone reached 100MM/bbls • 3-liquid hybrid hoses produced renewed • Survey for SUSTAINABLESHIP-1 Armada Sterling notation by Class
Slide 6: Key Highlights
Q2 2022 Key Highlights FPSOs and FSU FPSOs and FSU Average Uptime Q3 2021 Q4 2021 Q1 2022 Q2 2022 Owned Units* (4) 99% 98% 99% 97% JV Units (3) 100% 100% 100% 100% * Excludes Armada Claire Other Vessels and Projects • Only three OSVs remain; one is currently classified as an asset held for sale. • M
Slide 7: Armada Sterling V
Q2 2022 Armada Sterling V Kakinada 98/2 • Over 90% complete as of June 2022 • Over 16M working hours to date with no Lost Time Injuries • Planned sail away in Q4 2022 7
Slide 8: Caspian
Q2 2022 Caspian Subsea Construction • Completed engineering, procurement awards and construction of installation aids and piles. • Survey vessel mobilized in May. • Dredging vessel mobilized in June. • Armada Constructor mobilized in June and commenced dredging. • Armada Installer prepared for pipel
Slide 9: Financial Performance
Financial Performance Wy » Ya BUMIARMADA BP
Slide 10: Key Takeaways
Q2 2022 Key Takeaways Q2 2022 (versus Q1 2022) +17% RM618m (RM529m) Revenue -5% RM242m (RM256m) Operating profit ≈ RM186m (RM186m) Net profit attributable to to Owners of the Company -6% ➢ Repaid USD91m of debt in Q2 2022 RM717m (RM759m) ➢ Incurred USD20m impairment losses on accrued Cash balance le
Slide 11: Results Overview – Q2 2022 vs. Q1 2022
Results Overview – Q2 2022 vs. Q1 2022 RM'm Q1 2022 Q2 2022 Revenue due to progress of Subsea Construction Revenue 529.0 618.4 work in the Caspian Sea and Pre-FEED revenue Operating expenses (286.6) (389.1) recognised during Q2 2022. Other operating income 13.7 12.8 Operating profit 256.1 242.2 Oper
Slide 12: Cash Balance – Q2 2022
Cash Balance – Q2 2022 (All amounts shown are in RM’m) Cash Balance - Q2 2022 48 3 397 363 17 759 57 19 717 1 April 2022 Operating Dividends Forex on cash Others Repayment of Interest paid Net change in 30 June 2022 Cash balance surplus before received from a balance borrowings working capital Cash
Slide 13: Financial Performance Over Time
Financial Performance Over Time (All amounts shown are in RM’m) Revenue Operating Profit before Impairment (2) Operations Others 46.0 37.8 1.7 6.9 33.6 31.9 275.2 274.6 256.1 242.2 226.4 572.4 201.3 554.1 506.2 511.3 522.1 486.0 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q1 2021 Q2 2021 Q3 2021
Slide 14: Leverage Reducing Over Time
Leverage Reducing Over Time (All amounts shown are in RM’m) Debt Gearing Net Debt Cash Debt to Equity Net Debt to EBITDA 10.50 9.73 9.95 960 850 923 895 975 876 6.38 910 795 759 717 4.75 4.69 4.27 4.00 3.96 3.86 8,749 8,503 7,939 7,412 7,166 6,903 6,486 6,123 5,741 5,655 3.27 3.09 2.90 2.66 2.38 2.1
Slide 15: Order Book as at June 2022
Order Book as at 30 June 2022 Order book as at 30 June 2022 ➢ 82% order book from wholly-owned FPO units Firm contract RM10.6 bil RM2.3 bil period order book ➢ Robust firm order book of RM13.1b Optional extension RM7.9 bil RM1.4 bil ➢ Certain contracts contain extension period order book options bey
Slide 16: Outlook
Outlook Wy » Ya BUMIARMADA BP
Slide 17: Outlook
Q2 2022 Outlook Activities have increased significantly in the oil and gas sector, including the floating offshore solutions segment. We expect our existing business to be stable for the rest of 2022. We are pursuing new opportunities in targeted markets. We will focus on the following areas: Safety
Slide 18: Disclaimer
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, performance, o
Slide 19: Q&A
Q&A » BUMIARMADA
Slide 20: Thank You
N ee BUMIARMADA 22