Sbm Offshore Nv · EURONEXT:SBMO

Sbm Offshore Nv — Investor Presentation (September 2012)

34 slides from Sbm Offshore Nv's investor presentation, September 2012

Slide 2: Disclaimer
Disclaimer Some of the statements contained in this Should one or more of these risks or presentation that are not historical facts uncertainties materialize, or should are statements of future expectations and underlying assumptions prove incorrect, other forward-looking statements based on actual
Slide 5: SBM Offshore No.1 FPSO player worldwide
SBM Offshore No.1 FPSO player worldwide The Company Lease Fleet 4 Project execution centres 15 FPSOs 9 Shore bases 2 FSOs 4 Representative offices 1 Semi Sub 6,220 Employees 2 MOPUs Performance Financials FY 2011 in US$ 200+ years of operations Turnover 3.2 billion 99.1% Uptime Backlog 16.9 billion
Slide 6: Key Figures Half year 2012
Key Figures Half year 2012 (In millions of US$) H1 2011* H1 2012 FY 2011 Turnover EBITDA EBIT 1,670 373 223 1,461 335 -201 Net Profit New orders Order portfolio 158 2,480 16,910 16,109 872 -251 * H1 2011 results are restated for comparison purposes © SBM Offshore 2012. All rights reserved. www.sbmof
Slide 7: Order portfolio backlog
Order portfolio backlog (in US$ bln) 18 L& O Backlog 16 14 12 10 69% 8 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 6 * 1% Turnkey Backlog 4 2 30% 0 *2012 2013 2014 Turnkey Systems Turnkey Services Lease & Operate * 2012 includes
Slide 8: Financial Outlook 2012
Financial Outlook 2012 • Turnover in the region of US$ 4 billion • Turnkey Systems EBIT margin close to 10% range, reflecting new gross margin recognition principles • Turnkey Services EBIT margin in the 15%-20% range • Lease and Operate EBIT margin in-line with 2011 underlying level • Net financing
Slide 10: What's happening?
What’s happening? Oil discoveries in giant fields within the last 6 years by water depth 30000 25000 i n 20000 M n 15000 b l 10000 s 5000 0 Onshore 0-500 500-1000 1000-1500 1500-2000 2000+ Source: Goldman Sachs Deepwater needs high technology solutions © SBM Offshore 2012. All rights reserved. www.s
Slide 11: Floating Production Solutions
Floating Production Solutions Other TLP 4% 10% Spar 7% Semi FPSO 19% 60% (source: Petrobras, PFC Energy) FPSO is the favorite solution for offshore field development © SBM Offshore 2012. All rights reserved. www.sbmoffshore.com 11
Slide 12: Size of the prize
Size of the prize Source: Pareto research The sector is primed for solid growth in coming years with a CAGR of demand in the 6-10% range © SBM Offshore 2012. All rights reserved. www.sbmoffshore.com 12
Slide 13: FPSO market outlook
FPSO market outlook Field developments with FPSOs over the next 3 years 2 2 2 1 1 7 13 4 3 4 9 6 Lease 8 Sale Lease or Sale August 2012 (source: internal analysis) More than 60 FPSO projects to be awarded, SBM targets around 20 out of them to obtain a fair share © SBM Offshore 2012. All rights reser
Slide 14: FPSOs are getting heavier
FPSOs are getting heavier 25000 Cd de Ilhabela 20000 Topsides Weight (ton) 15000 Cd de Paraty P 57 10000 Marlim Xikomba Kikeh N’Goma Sul Saxi Falcon Espadarte Mondo 5000 Kuito Serpentina Capixaba Rang Dong 0 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 Year of first oil (source: internal a
Slide 16: More demanding
More demanding Turrets – Swivel stack size (source: internal analysis) Our clients are more and more technology demanding SBM addresses this challenge © SBM Offshore 2012. All rights reserved. www.sbmoffshore.com 16
Slide 17: FPSOs are not a commodity
FPSOs are not a commodity Full life production solution Qualitative differentiation Non exchangeable Bespoke solutions for full product lifecycle © SBM Offshore 2012. All rights reserved. www.sbmoffshore.com 17
Slide 19: FPSO: unsustainable industry ranking
FPSO: unsustainable industry ranking TSR Peer Group Ranking 2007 – 1H2012, %CAGR PETROFAC 31.1% FMC TECHNOLOGIES 24.4% OCEANEERING INTL 22.2% OIL STATES INTERNATIONAL 20.3% WOOD GROUP (JOHN) 16.9% SAIPEM 16.5% AMEC 16.0% WORLEY PARSONS 14.6% TECHNIP 14.3% FUGRO NV-CVA 9.5% CHICAGO BRIDGE & IRON 6.0%
Slide 20: FPSO: industry in need of transition
FPSO: industry in need of transition 6 FPSO players – Return on Total Assets 2007 2008 2009 2010 2011 5yr avg 10.0% 5.0% 0.0% -5.0% -10.0% -15.0% -20.0% -25.0% SBMO Modec BWO Teekay Aker Floating Production Bluewater Group (source: SBM internal analysis) FPSO industry shows more down side than upsid
Slide 22: FPSO focus strategy
FPSO FPSO FPSO About our Strategy: The Company has refocused its product line on core FPSO products and associated services. By focusing on core products with historically good margins whilst improving execution standards and project risk profiles, the Company believes it will return to delivering s
Slide 23: Awards won
Supply side FPSO market 2010-June 2012 Awards 5 4 Awards won 3 2 1 0 0 20000 40000 60000 80000 100000 120000 140000 Average production capacity (bpd) (Engineering complexity) (source: internal analysis-30/06/2012) Few active players, strong technical and financing capacity differentiation © SBM Offs
Slide 24: We deliver along the full product lifecycle
SBM Offshore - Running head. 6pt Arial Regular We deliver along the full product lifecycle Engineering Procurement 50 years of industry firsts Integrated supply chain Leading edge technology Global efficiencies Local sourcing Product Life Extension Construction Leader in FPSO relocation Strategic pa
Slide 30: A growing workforce
A growing workforce 7000 6000 5000 SBMO Total Workforce 4000 3000 2000 1000 0 2005 2006 2007 2008 2009 2010 2011 (source: internal analysis) Transformation needed to manage strong growth © SBM Offshore 2012. All rights reserved. www.sbmoffshore.com 30
Slide 31: Growing production volume
Growing production volume Annual production in barrels 360,000 Thousands 350,000 340,000 330,000 320,000 310,000 300,000 290,000 280,000 270,000 260,000 2007 2008 2009 2010 2011 SBM Offshore (source: internal analysis) Transformation needed to manage strong growth © SBM Offshore 2012. All rights res
Slide 32: Group transformation in progress
Group transformation in progress FPSO strategy focus New organisation profit and cash flow accountable Strengthened management team Selective growth in buoyant market Lead the industry transition towards improving risk/reward balance © SBM Offshore 2012. All rights reserved. www.sbmoffshore.com 32
Slide 33: Improving Risk/Reward balance
Improving Risk/ Reward balance • Growing market • Attractive niche position • Few players • Not a commodity product • Excellent operations (99.1% uptime) • Unsustainable historic returns Lead the industry transition towards improving risk/reward balance © SBM Offshore 2012. All rights reserved. www.

SBM Offshore — Investor Presentation (September 2012) on 6ix

Sbm Offshore Nv — Investor Presentation (September 2012)

Slide 1: Strategy Presentation, September 2012

Slide 2: Disclaimer

Slide 3: Agenda

Slide 4: Who we are, where we are

Slide 5: SBM Offshore No.1 FPSO player worldwide

Slide 6: Key Figures Half year 2012

Slide 7: Order portfolio backlog

Slide 8: Financial Outlook 2012

Slide 9: Challenges and opportunities

Slide 10: What's happening?

Slide 11: Floating Production Solutions

Slide 12: Size of the prize

Slide 13: FPSO market outlook

Slide 14: FPSOs are getting heavier

Slide 15: Getting complex

Slide 16: More demanding

Slide 17: FPSOs are not a commodity

Slide 18: Challenges and opportunities

Slide 19: FPSO: unsustainable industry ranking

Slide 20: FPSO: industry in need of transition

Slide 21: Our Strategy

Slide 22: FPSO focus strategy

Slide 23: Awards won

Slide 24: We deliver along the full product lifecycle

Slide 25: Cidade de Anchieta

Slide 26: August 2011

Slide 27: October 2011

Slide 28: Year-end 2011

Slide 29: Transformation

Slide 30: A growing workforce

Slide 31: Growing production volume

Slide 32: Group transformation in progress

Slide 33: Improving Risk/Reward balance

Slide 34: Q&A