Bumi Armada Bhd. · MYX:ARMADA
Bumi Armada Bhd — Q3 2022 Earnings Presentation
20 slides from Bumi Armada Bhd's earnings presentation, Nov 1, 2022
Slide 1: Bumi Armada Berhad Financial Results Q3 2022
Bumi Armada Berhad Financial Results Q3 2022
Slide 2: Health, Safety & Environment
Q3 2022 Health, Safety & Environment Armada Sterling II Armada TGT 1 7 years LTI free 11 years LTI free FSU Armada LNG Mediterrana Armada Sterling 5 years LTI free 9 years LTI free Karapan Armada Sterling III Armada Kraken 5 years LTI free <1 year LTI free Armada Olombendo <1 year LTI free • Extende
Slide 3: Sustainability
Q3 2022 Sustainability • Supported Rise Against Hunger (RAH) on sponsorship and preparation of 50,000 food packages to communities in need. • Ongoing support to Malaysia Fisheries Department Pahang on turtle conservation effort. • Please refer to our company website: https://www.bumiarmada.com/susta
Slide 4: Key Operations Update
Q3 2022 Key Operations Update Armada Kraken • Annual planned shutdown (Sep 22). • Main Power Generator (MPG) #2 24k hours service. Armada Sterling Armada TGT Armada Mediterrana • Annual shutdown (Sep 22). • 5 yearly special survey • Annual Life-Saving/Fire- by ABS (Jul – Sep 22). • Completion of M.I
Slide 5: Fleet Highlights
Q3 2022 Fleet Highlights FPSOs and FSU FPSOs and FSU Average Uptime Q4 2021 Q1 2022 Q2 2022 Q3 2022 Owned Units* (4) 98% 99% 97% 99% JV Units (3) 100% 100% 100% 100% • Overall good performance across all operational units in Q3 2022. • Planned process shutdowns managed well on both Armada Kraken and
Slide 6: Armada Sterling V
Q3 2022 Armada Sterling V Armada Sterling V: Armada Sterling V: View from the bow (Sept’22) Sail away Kakinada 98/2 • The FPSO has sailed away from the construction yard in Singapore and is expected to arrive in the east coast of Kakinada, offshore India, by December 2022. • Over 19M working hours t
Slide 7: Caspian
Q3 2022 Caspian Subsea Construction • Completed dredging activities. • Completed pipeline installation and tie-in in 1st week of September. • Completed 1st part of post trenching of the pipeline in September. • Armada Installer completed work and demobilized in September. • Commenced 2nd (final) par
Slide 8: Financial Performance
Financial Performance Wy » Ya BUMIARMADA BP
Slide 9: Key Takeaways
Q3 2022 Key Takeaways Q3 2022 (versus Q2 2022) RM653m (RM618m) RM276m (RM242m) -19% RM150m (RM186m) +6% +14% Revenue Operating profit Net profit attributable to to Owners of the Company ➢ Repaid USD75m of debt in Q3 2022. RM512m (RM287m) +84% ➢ Downward revision of residual value of vessels and Net
Slide 10: Results Overview – Q3 2022 vs. Q2 2022
Results Overview – Q3 2022 vs. Q2 2022 RM'm Q2 2022 Q3 2022 Revenue 618.4 653.1 Revenue due to higher progress of Subsea Operating expenses (389.1) (394.6) Construction work in the Caspian Sea, offset by lower Other operating income 12.8 17.9 Pre-FEED revenue recognised in Q3 2022. Operating profit
Slide 11: Financial Performance Over Time
Financial Performance Over Time (All amounts shown are in RM’m) Revenue Operating Profit before Impairment (2) Operations Others 31.4 46.0 37.8 1.7 6.9 33.6 275.2 274.6 276.4 31.9 256.1 242.2 226.4 621.6 201.3 554.1 572.5 506.2 511.3 522.1 486.0 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 202
Slide 12: Cash Balance – Q3 2022
Cash Balance – Q3 2022 (All amounts shown are in RM’m) Cash Balance - Q3 2022 38 18 336 272 353 109 953 717 1 July 2022 Operating Net change in Forex on cash Others Repayment of Interest paid 30 Sep 2022 Cash balance surplus before net working capital balance borrowings Cash balance change in workin
Slide 13: Cash Flow Statement
Cash Flow Statement (All amounts shown are in RM’m) Cash Movement and Cash Balance Net Operating Cash Flows 1,200 1,000 800 600 400 512.2 421.4 200 327.8 312.5 298.7 287.2 196.1 - Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2021 2021 2021 2022 2022 2022 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Operating & investing Financing (absolute a
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 6.38 910 795 759 717 953 4.75 4.69 4.27 4.00 3.96 3.86 3.83 8,749 8,503 7,939 7,412 7,166 6,903 6,486 6,123 5,741 5,655 5,310 3.27 3.09 2.9
Slide 15: Order Book as at 30 September 2022
Order Book as at 30 September 2022 ➢ 83% order book from Order book as at 30 Sep 2022 wholly-owned FPO units Firm contract RM10.6 bil RM2.3 bil period order book ➢ Robust firm order book of RM13.0b Optional extension RM8.3 bil RM1.5 bil ➢ Certain contracts contain extension period order book options
Slide 16: Outlook
Outlook Wy » Ya BUMIARMADA BP
Slide 17: Outlook
Q3 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