Seacor Marine Holdings Inc. · NYSE:SMHI
Seacor Marine — Investor Presentation (June 2017)
21 slides from Seacor Marine's investor presentation, Jun 20, 2017
Slide 1: Investor Presentation June 2017
INVESTOR PRESENTATION June 2017 (“SMHI”)
Slide 2: Forward-Looking Statement
Forward-Looking Statement This presentation includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements discussed in this presentation as well as in other reports, materials and oral statements that the Company releases from ti
Slide 3: SEACOR Marine – A Unique Platform
SEACOR Marine – A Unique Platform 3 U.S. 15% Africa 17% Europe 38% A strong track record and global presence – robust and diversified global reach Specialized fleet mix focused on production support, passenger transport, and well maintenance / decommissioning services — Better performance throug
Slide 4: SMHI's Transformation History – A Strong Track Record
SMHI’s Transformation History – A Strong Track Record 4 Sep. 30, 2016 $629 million Jun. 30, 2005 $576 million Dec. 31, 1990 $98 million Net Property and Equipment: 2017 - 1989 - 1999 2000 - 2005 2006 - 2016 Era of consolidation, niche diversification and globalization of energy services — NICOR Ma
Slide 5: Global Presence – Robust and Diversified Global Reach
Global Presence – Robust and Diversified Global Reach 5 SMHI has a global revenue base that provides significant scale and access to all major markets 1
Slide 6: SEACOR Marine – Unique and Strategic Fleet Mix
SEACOR Marine – Unique and Strategic Fleet Mix 6 Fleet Attributes U.S. 15% Africa 17% Europe 38% Net Book Value (“NBV”) Breakdown1 U.S.-flag AHTS 5% Foreign-flag AHTS 3% Fast support 43% Supply 7% Standby safety 4% Specialty 4% Liftboats 28% Wind farm utility 6% 1 The NBV of the fleet as of March 31
Slide 7: Fast Support Vessels – Unique Assets
Fast Support Vessels – Unique Assets 51 Operated Vessels: 36 Owned, 1 Leased-In, 11 Joint-Ventured & 3 Pooled 7 U.S. 15% Africa 17% Europe 38% High horsepower, aluminum hull vessels built for speeds up to 35-40 knots Utilized worldwide (except for the North Sea) Primarily for transport of pers
Slide 8: Liftboats – Domestic Focus and Full Cycle Services
Liftboats – Domestic Focus and Full Cycle Services 15 Operated Vessels: 13 Owned & 2 Leased-In 8 U.S. 15% Africa 17% Europe 38% Self-propelled, self-elevating jack-up work platforms Utilized for well intervention, well workover, construction, platform maintenance and repair, diving operations, a
Slide 9: Anchor Handling Towing Supply – High Optionality in US
Anchor Handling Towing Supply – High Optionality in US 25 Operated Vessels: 11 Owned, 4 Leased-In, 1 Joint-Ventured & 9 Managed 9 U.S. 15% Africa 17% Europe 38% High horsepower vessels used primarily to support offshore drilling activities in the towing, positioning and mooring of drilling rigs an
Slide 10: Standby Safety – Mature Fleet and Steady Performance
Standby Safety – Mature Fleet and Steady Performance 21 Operated Vessels: 20 Owned & 1 Joint-Ventured 10 U.S. 15% Africa 17% Europe 38% Provide emergency rescue services required by UK safety regulations — Significant outfitting of safety equipment and facilities Certain vessels deliver producti
Slide 11: Wind Farm Utility – Natural Adjacency to Core Competency
Wind Farm Utility – Natural Adjacency to Core Competency 40 Operated Vessels: 37 Owned & 3 Joint-Ventured 11 U.S. 15% Africa 17% Europe 38% Small, aluminum hull catamarans carrying up to 12 technicians to offshore wind turbines for maintenance Operate primarily in the North Sea — Looking to expa
Slide 12: Hidden Value in JVs – Mexmar JV (Mexico)
Hidden Value in JVs – Mexmar JV (Mexico) 15 Owned & Operated Vessels 12 3 Largest operator for Pemex in terms of revenue, second largest in terms of number of vessels contracted to Pemex — Main provider of deepwater PSVs to Pemex — Grown from 8 vessels in 2011 when JV formed — Long term charters –
Slide 13: SMHI Continues to Build on Its Strong Foundation
SMHI Continues to Build on Its Strong Foundation Net Fleet Additions – March 2017 Trailing 15 Months 13 U.S. 15% Africa 17% Europe 38% Seven newbuild deliveries: three FSVs, two Liftboats and two Wind farm vessels Two newbuild PSV deliveries to MexMar Purchased 11 FSVs at a bankruptcy auction
Slide 14: SMHI – Balance Sheet Highlights – Liquidity, Liquidity…
SMHI – Balance Sheet Highlights – Liquidity, Liquidity… 14 1 The Proforma balance sheet includes Q2 2017 acquisitions of partner's 50% interests in four Sea-Cat joint ventured catamarans and 12.5% of Windcat Workboats from non-controlling interests assuming effected in March 2017. 4 Proforma (in mil
Slide 15: SMHI – Limited Near-Term Debt Maturities
SMHI – Limited Near-Term Debt Maturities 15 4 Proforma (in millions) Mar-17 2017 2018 2019 2020 2021 2022 Thereafter Debt Issue: 3.75% Convertible Senior Notes 175.0 - - - - - 175.0 - Falcon Global 59.3 5.9 5.9 5.9 5.9 5.9 29.8 - Sea-Cat Crewzer I & II 41.6 2.2 4.5 34.9 - - - - Sea-Cat Crewzer III 2
Slide 16: Conservative Accounting Policies
Conservative Accounting Policies 16 Conservative asset depreciation policy Depreciated from year of build (not from year of rebuilding / acquisition) No maintenance capex required: all maintenance and repair costs expensed as incurred Drydocking and ship repositioning costs also expensed as
Slide 17: Historical Earnings and Returns
Historical Earnings and Returns 17 1 Return on average historical cost is calculated as operating income before D&A, asset dispositions, and impairments divided by average historical cost of equipment. 2 Return on average net book value is calculated as operating income before D&A, asset disposition
Slide 18: SMHI is Supported by a $175mm Carlyle Investment
SMHI is Supported by a $175mm Carlyle Investment 18 Coupon / Term 3.75% cash coupon / 7 Years Conversion Price $43.00 (23.26 shares per $1,000 principal amount of notes) Ownership Implied ownership of 18.7% of the current outstanding shares of SEACOR Marine on a fully- diluted basis Source: Co
Slide 19: Well Positioned for Opportunity – A Lighthouse in the Storm
Well Positioned for Opportunity – A Lighthouse in the Storm 19 Financially we are solid Disciplined approach – active asset trading to maximize returns and opportunity Our fleet is well-positioned for the future: — Consolidate niches and regions — Acquire cheap assets to strengthen and diversi
Slide 20: Experienced Management Team with Proven Track Record
Experienced Management Team with Proven Track Record 20 Name Position Years of Experience Background John Gellert President, CEO and Director 25 Prior to his appointment, Mr. Gellert was Co-Chief Operating Officer of SEACOR Holdings Inc. from February 23, 2015 to May 31, 2017. From May 2004 to F
Slide 21: INVESTOR PRESENTATION June 2017
INVESTOR PRESENTATION June 2017
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