Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q4 2018 Earnings Presentation
18 slides from Bumi Armada Bhd's earnings presentation, Mar 1, 2019
Slide 1: Bumi Armada Q4 2018 Analyst Briefing
BUMI ARMADA Q4 2018 ANALYST BRIEFING 1st March 2019
Slide 2: 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 3: Agenda
Agenda 1. Operational & Project Updates 2. Q4 2018 Financials 3. Outlook 4. Q&A 3
Slide 4: Operational & Project Updates
Operational & Project Updates 4
Slide 5: FPO Updates
FPO Updates ▪ Challenges continue on Armada Kraken ▪ Other FPO units continue to maintain high performance ▪ Armada Perdana – Process ongoing for offload of the oil stored in the FPSO cargo tanks ▪ Continue to review options for Armada Claire ▪ Woodside court case has commenced 5
Slide 6: OMS Updates
OMS Updates OSV ▪ Vessel utilisation 38% in Q4 2018 and 43% in Q3 2018. ▪ Disposed of 1 vessel in Q4 2018 ▪ Several other vessels currently under negotiation for sale Subsea Construction ▪ Waiting for decisions on bids for work in the Caspian. ▪ Armada KPI mobilised in September for work in Indonesi
Slide 7: Q4 2018 Financials
Q4 2018 Financials VX Wa BUMIARMADA 3
Slide 8: Key takeaways
Key takeaways ▪ Revenue in Q4 2018 decreased by 2.0% to RM576.3 million compared to Q3 2018 ▪ Q4 2018 versus Q3 2018 ▪ FPO revenue decreased by 6.0% to RM381.4 million ▪ OMS revenue increased by 6.9% to RM194.9 million ▪ FPO segment results decreased by 21.9% to RM153.4 million ▪ OMS segment results
Slide 9: Results Overview – Q4 2018 vs. Q3 2018
Results Overview – Q4 2018 vs. Q3 2018 (in RM’mil) Revenue Segment Results 588.0 576.3 241.1 44.6 211.9 182.3 -2% 194.9 -12% 58.5 196.5 405.7 153.4 381.4 Q3 2018 Q4 2018 Q3 2018 Q4 2018 FPO OMS FPO OMS • FPO revenue and results decreased due to lower revenue from Armada TGT FPSO and Armada Kraken FP
Slide 10: Results Overview – Q4 2018 vs. Q3 2018 (Continued)
Results Overview – Q4 2018 vs. Q3 2018 (in RM’mil) (Continued) Operating Profit Net Profit Net Loss (2) before Impairment (1) before Impairment (1)(2) Q3 2018 Q4 2018 129.2 75.2 116.6 -54% -10% 34.3 (502.8) ->100% (1,262.9) Q3 2018 Q4 2018 Q3 2018 Q4 2018 • Operating profit before impairment decreas
Slide 11: Results Overview – FY 2018 vs. FY 2017
Results Overview – FY 2018 vs. FY 2017 (in RM’mil) Revenue Segment Results 2,418.7 1,151.8 2,402.1 +1% -12% 1,008.4 403.2 724.8 198.0 969.2 748.6 810.4 1,693.9 1,432.9 FY 2017 FY 2018 FY 2017 FY 2018 FPO OMS FPO OMS • FPO revenue and results increased due to full year revenue recognised for Armada O
Slide 12: Results Overview – FY 2018 vs. FY 2017 (Continued)
Results Overview – FY 2018 vs. FY 2017 (in RM’mil) (Continued) Operating Profit Net Profit/(Loss) (2) Net Profit before before Impairment (1) impairment (1)(2) 352.2 768.9 -25% 362.3 -40% 578.3 FY 2017 FY 2018 ->100% 216.5 FY 2017 FY 2018 (2,302.8) FY 2017 FY 2018 • Operating profit before impairmen
Slide 13: Revenue composition by geographical %
Revenue composition by geographical % FY 2017 FY 2018 5% 6% 2% 2% 4% 24% 33% 39% 48% 37% 13
Slide 14: Order book as at 31 December 2018
Order book as at 31 December 2018 As at 31 December 2018, the Group’s firm order book stood at RM20.2 bil compared to RM21.0 bil as at 30 Sept 2018. Upon expiration of the firm contract period, certain contracts contain extension options which are renewable on annual basis with a total potential val
Slide 15: Outlook
Outlook 17 BUMIARMADA is
Slide 16: Outlook
Outlook Focus areas going forward: ▪ Safety culture and operational excellence ▪ Refinance our corporate debt ▪ Strengthen our balance sheet ▪ Cost management 16
Slide 17: Q&A
Q&A VX Wa BUMIARMADA BP
Slide 18: Thank You
Thank You ap ZN V BUMIARMADA 18