Eidesvik Offshore Asa · OSL:EIOF
Eidesvik Offshore Asa — Shareholder Meeting (May 2020)
16 slides from Eidesvik Offshore Asa's shareholder meeting presentation, May 20, 2020
Slide 1: Annual General Meeting
Annual General Meeting Bømlo, May 20, 2020 Jan Fredrik Meling, CEO
Slide 2: Subsea/Offshore wind, Supply, Seismic
Subsea/Offshore wind Supply Seismic 4 vessels 7 vessels 4 vessels Revenues MNOK 682 438 employees Operates 15 vessels 2
Slide 3: Consequences of the decline in Oil price and Covid-19
Consequences of the decline in Oil price and Covid-19 The World-wide outbreak of the Covid-19 virus, in combination with an unprecedented decline in demand for oil and thus dramatic drop in oil prices, have led oil companies to implement cost and capex saving measures that reduce demand for oil serv
Slide 4: The offshore wind market
The offshore wind market Siemens Gamesa Renewable Energy extended the charter of «Acergy Viking» by one additional year. The firm period will end January 2022, with options thereafter. «Viking Neptun» worked for Merkur Offshore first half of 2019. 4
Slide 5: The Subsea market
The Subsea market «Viking Neptun» worked for Ocean Installer AS for approx. three months in 2019. «Viking Neptun» went to 5 year class in 1st Quarter 2020, and during 2020 hybrid solutions will be installed on board. In 2nd Quarter, the vessel commenced the 150 days work for Ocean Installer. 5
Slide 6: The Supply market
The Supply market The contracts with Equinor for «Viking Avant» and «Viking Energy» have been extended to respectively ultimo 2022 and ultimo April 2025. Eidesvik entered into a three year frame agreement with Aker BP for the provision of PSVs. At year end 2019, Eidesvik had «Viking Prince», «Viking
Slide 7: Green Ammonia Energy
GREEN AMMONIA ENERGY ©, bes WARTSILA [RWW & Z Fraunhofer CM Prototech Imm STAR BULK Norwegian Centres of Expertise CE Maritime CleanTech Strathclyde Gl NORWEGIAN CATAPULT CENTRE "@\ NORTH SEA | < EXECUTIVE “4 SHiPPINc
Slide 8: The Seismic market
The Seismic market The sale of Global Seismic Shipping AS («GSS») was completed on January 8, 2020. As consideration for Eidesvik’s shares in GSS, Eidesvik received shares in Shearwater GeoServices Holding AS (the "Consideration Shares"). As previously announced, CGG SA and Eidesvik have agreed on a
Slide 9: The Seismic market
The Seismic market Eidesvik entered into a long-term Master Time Charter Agreement with Seabed Geosolutions for services of seismic source and node-handling vessels. At year end 2019, «Vantage» and «Subsea Viking» was on charter to Seabed Geosolutions under this agreement. «Veritas Viking» was on ch
Slide 10: LTI 2019
Eidesvik 20 18 16 14 2 First Aid m Lost Time incident Medical Treatment mRWC 10 16 LT] 2019 2016 2017 2018 cB 13 16 1 2 3 1 - 1 2 2 19
Slide 11: Results 2019
Results 2019 (in million NOK) EBITDA 2019 vs. 2018 (MNOK 146.3): Operating revenue Seismic: Increase of freight income of MNOK 101.0 including termination fee of 800 MNOK 38.6, increase in the total operating expenses of MNOK 21.7. Net 600 155 49 increase in EBITDA of MNOK 79.4. 400 11 Subsea: Incre
Slide 12: Balance
Balance (in million NOK) 4 500 4 000 Short-term liabilities Current assets 3 500 Short-term liabilities 3 000 Current assets Asset held for sale Long-term liabilities 2 500 2 000 Long-term liabilities Fixed assets 1 500 Fixed assets 1 000 Equity 500 Equity 0 Assets 31.12.19 Equity and Liabilities As
Slide 13: Contract Status
S Contract Status Seven Viking Viking Neptun Subsea Viking Acergy Viking Viking Queen Viking Lady Viking Princess Viking Prince ing Athene Viking Energy Viking Avant Viking Vanquish Viking Vision Veritas Viking Vantage 01.01.2020 31.12.2020 31.12.2021 31.12.2022 Firm contract # Option 13
Slide 14: Consolidated total contract backlog Q1 2020 is MNOK 838
Consolidated total contract backlog Q1 2020 is MNOK 838 (incl. all new contracts per May 12, 2020) 14
Slide 15: Debt maturity profile 31.03.2020
Debt maturity profile 31.03.2020 2 500 2 000 1 500 Millions 1 738 1 000 500 81 224 352 297 0 Rest of 2020 2021 2022 After 2022 Instalments Balloons 15
Slide 16: Thanks for Your attention!
Eidesvik Thanks for Your attention!