Bumi Armada Bhd. · MYX:ARMADA

Bumi Armada Bhd — Q2 2018 Earnings Presentation

18 slides from Bumi Armada Bhd's earnings presentation, Aug 29, 2018

  1. Slide 1: Q2 2018 Analyst Briefing

    BUMI ARMADA Q2 2018 ANALYST BRIEFING 29th August 2018

  2. 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

  3. Slide 3: Agenda

    Agenda 1. Operational & Project Updates 2. Q2 2018 Financials 3. Outlook 4. Q&A 3

  4. Slide 4: Operational & Project Updates

    Operational & Project Updates 4

  5. Slide 5: FPO Updates

    FPO Updates Project Updates:  Armada Kraken: I. Amendment to bareboat charter (AA2) has been signed II. Now enabling progression towards final acceptance. III. Mitigates various exposures under the original contract. Operating Vessels:  Armada TGT 1 – Contract extension agreed and signed, 6 years

  6. Slide 6: OMS Updates

    OMS Updates OSV  Vessel utilisation 39% in Q2 2018, compared to 38% in Q1 2018. Subsea Construction  Armada Installer completed pipe laying operations in June for Lukoil 2018 scope and demobilsed vessel.  Armada Constructor working on post - trenching & backfilling operations for Lukoil 2018 camp

  7. Slide 7: Q2 2018 Financials

    Q2 2018 Financials VX Wa BUMIARMADA 3

  8. Slide 8: Key takeaways

    Key takeaways  Revenue in Q2 2018 increased by 8.9% to RM654.0 million compared to Q1 2018.  An impairment charge of RM478.9 was recognised in Q2 2018 in FPO segment (Armada Kraken FPSO and Armada Gema).  Q2 2018 versus Q1 2018  FPO revenue decreased by 3.0% to RM446.5 million  OMS revenue incr

  9. Slide 9: Results Overview – Q2 2018 vs. Q1 2018

    Results Overview – Q2 2018 vs. Q1 2018 (in RM’mil) Revenue EBITDA 654.0 600.3 +9% 320.6 207.6 140.0 -48% 165.5 460.3 446.5 Q1 2018 Q2 2018 Q1 2018 Q2 2018 FPO OMS 9

  10. Slide 10: Results Overview – Q2 2018 vs. Q1 2018 (Continued)

    Results Overview – Q2 2018 vs. Q1 2018 (in RM’mil) (Continued) Net Profit/(Loss) (1) Net Profit/(Loss) (1) before impairment after impairment 48.4 48.4 Q1 2018 Q2 2018 Q1 2018 Q2 2018 ->100% ->100% (106.6) (585.5) (1) Attributable to Owners of the Company 10

  11. Slide 11: Results Overview – YTD 2018 vs. YTD 2017

    Results Overview – YTD 2018 vs. YTD 2017 (in RM’mil) Revenue EBITDA 1,254.4 +14% 676.5 1,098.6 -28% 347.6 521.3 486.1 906.8 577.3 YTD 2017 YTD 2018 YTD 2017 YTD 2018 FPO OMS 11

  12. Slide 12: Results Overview – YTD 2018 vs. YTD 2017 (Continued)

    Results Overview – YTD 2018 vs. YTD 2017 (in RM’mil) (Continued) Net Profit/(Loss) (1) Net Profit/(Loss) (1) before impairment after impairment 164.7 170.5 347.6 521.3 ->100% YTD 2017 YTD 2018 ->100% YTD 2017 YTD 2018 (58.1) (537.1) (1) Attributable to Owners of the Company 12

  13. Slide 13: Revenue composition by geographical %

    Revenue composition by geographical % YTD 2017 YTD 2018 5% 2% 2% 4% 25% 24% 39% 54% 45% 11

  14. Slide 14: Order book as at 30 June 2018

    Order book as at 30 June 2018 As at 30 June 2018, the Group’s firm order book stood at RM20.2 bil compared to RM20.7 bil as at 31 March 2018*. Upon expiration of the firm contract period, certain contracts contain extension options which are renewable on annual basis with a total potential value of

  15. Slide 15: Outlook

    Outlook 17 BUMIARMADA is

  16. Slide 16: Outlook

    Outlook FPO  Acceptance of Kraken FPSO  Focus on key proposals  Armada Claire, Perdana redeployment opportunities OMS  OSV: Focus on business to be cash flow positive  Subsea: Completion of Lukoil 2018 campaign, building orderbook 2019 & beyond CORPORATE  Focus on strengthening balance sheet 

  17. Slide 17: Q&A

    Q&A VX Wa BUMIARMADA BP

  18. Slide 18: Thank You

    Thank You ap ZN V BUMIARMADA 18

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