Slide 1: Bristow Group Inc. Investor Relations Presentation
Exhibit 99.1 Bristow Group Inc. Investor Relations Presentation August 2012
Slide 2: Forward-looking statements
Forward-looking statements This presentation may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about our future business, operations, capital expenditures, fleet composition, capabilities
Slide 3: Bristow is the leading provider of helicopter services and a unique investment in oil field services
Bristow is the leading provider of helicopter services and is a unique investment in oil field services Bristow flies crews and light cargo to production platforms, vessels and rigs • ~20 countries • 551 aircraft • ~3,400 employees • Ticker: BRS $67 • Stock price*: $45.77/share • Market cap*: ~$1.7
Slide 4: TARGET ZERO safety program creates differentiation and client loyalty
TARGET ZERO , our industry leading safety program, creates differentiation and client loyalty • Safety is our primary core value • Bristow’s ‘Target Zero’ program is now the leading example emulated industry-wide • Safety Performance accounts for 25% of management incentive compensation • 2011 Natio
Slide 5: Bristow services are utilized in every phase of offshore oil and gas activity
Bristow services are utilized in every phase of offshore oil and gas activity, especially production • Largest share of revenues (>60%) relates to Typical revenues by segment oil and gas production, providing stability and Other 10% growth opportunities Exploration 20% • There are ~ 8,000 offshore p
Slide 6: Contract and operations structure generates more predictable income with operating leverage
Bristow’s contract and operations structure generates more predictable income with significant operating leverage • Two tiered contract structure includes both: – Fixed or monthly standing charge to reserve helicopter capacity – Variable fees based on hours flown with fuel pass through • Bristow con
Slide 7: Why Bristow?
Why Bristow? • Bristow has changed its client and capital allocation approach (Client Promise/Bristow Value Added) to generate better cash returns and fund it’s growth • Bristow is enjoying improved pricing for its services with better utilization especially in North America • Bristow is growing wit
Slide 8: CHANGE: Client Promise initiative is gaining traction
CHANGE: Bristow’s Client Promise initiative is gaining traction and is behind our margin improvement Target Zero accidents, downtime and complaints programs deliver value to operators. More zero-accident flight hours than anyone, more uptime than anyone, and hassle-free service creates confidence in
Slide 9: CHANGE: Bristow Value Added makes employees treat cost of capital like any other expense
CHANGE: Bristow Value Added (BVA) makes employees treat the cost of capital like any other expense • BVA is the key measure to define Bristow’s financial success and charges managers for the capital they use every day • BVA has changed i) the way working capital is managed, and ii) has led to our op
Slide 10: Operating lease initiative: lowering the cost and amount of capital needed to grow
Operating lease initiative: lowering the cost and amount of capital needed to grow Leased aircraft as of June 30, 2012 Large Medium Small Total Leased LACE Total LACE % Leased EBU 8 - - 8 8 47 17% WASBU - 1 - 1 1 22 2% NABU 2 11 1 14 8 30 26% AUSBU 1 - 2 3 2 18 11% OIBU - - - - - 32 0% Total 11 12 3
Slide 11: Focus on BVA has yielded much higher operating cash flow generation
Our focus on BVA has yielded much higher operating cash flow generation . . . Net cash provided by operating activities 320 231.3 280 240 195.4 200 151.4 127.9 160 120 80 40 52.9 55.4 29.6 35.0 25.7 0 FY09 FY10 FY11 FY12 Q1 FY13 See June 30, 2012 10-Q for more information on cash flow provided by op
Slide 12: Combined with leasing, creates significantly higher cash and liquidity position
. . . And when combined with leasing, creates a significantly higher cash and liquidity position Total Liquidity 450 402 400 387 350 300 261 227 262 250 200 178 116 150 78 100 145 160 140 50 100 0 31-Mar-10 31-Mar-11 31-Mar-12 30-Jun-12 Undrawn borrowing capacity Cash 12
Slide 13: Larger scope of growth opportunities identified between FY13 and FY17
. . . Which allows us to pursue the larger scope of growth opportunities identified between FY13 and FY17 3 5 69 Russia / Caspian 33 7 24 27 Europe 12 10 5 20 North America 30 56 31 Mid East, East Africa, India, Bangladesh 8 9 Malaysia, Thailand 109 5 Indonesia Gulf of Guinea 11 40 228 160 Brazil, P
Slide 14: Market outlook even better in FY13
. . . With the market outlook even better in FY13 • The overall market both in terms of tender activity and pricing is improving Overall activity • North Sea tender activity remains at historic levels above pre- • Aircraft supply is tightening with significant search and rescue 2008 levels (SAR) req
Slide 15: CONCLUSION: Strongest balance sheet in our industry
CONCLUSION: Bristow enjoys the strongest balance sheet in our industry with ample liquidity, cash flow and asset value Prudent • Adjusted Debt/Capital Ratio less than 45% with a BBB- Balance rating from Standard & Poor’s for secured debt Sheet • Operating lease strategy used to finance growth with a
Slide 16: Conclusion: unique combination of growth and balanced return
Conclusion: Bristow provides investors with unique combination of growth and balanced return We can provide a balanced return, but some years we will “Go Faster” depending on price signals The “Growth Price Signal” is provided The “Capital Return Price Signal” is by the commercial markets and outloo
Slide 17: Appendix
Appendix BEC ERO ACCIDENTS / ZERO DOWNTIME / ZERO COMPLAINTS
Slide 18: Asset values are resilient as there is strong demand for helicopters outside of oil field services
Bristow’s asset values are resilient as there is strong demand for helicopters outside of oil field services 18
Slide 19: Europe (EBU)
Europe (EBU) • Europe represented 39% of Bristow operating revenue and 42% of adjusted EBITDAR* in Q1 FY13 • Operating revenue increased to $123.2M in Q1 FY13 from $108.3M in Q1 FY12 with the addition of four large aircraft and increased activity with new and existing contracts in the UK and Norway
Slide 20: West Africa (WASBU)
West Africa (WASBU) • Nigeria represented 21% of Bristow operating revenue and 22% of adjusted EBITDAR* in Q1 FY13 • Operating revenue of $66.4M in Q1 FY13 increased 27% from $52.3M in Q1 FY12 due to strong activity and a 12% increase in flight hours compared to Q1 FY12 • Adjusted EBITDAR increased
Slide 21: North America (NABU)
North America (NABU) • • North America represented 17% of Bristow operating revenue and 13% of adjusted EBITDAR* in Q1 FY13 • Adjusted EBITDAR doubled to $12.2M in Q1 FY13 vs. $6.3M in Q1 FY12 and adjusted EBITDAR margin was 23.2% in Q1 FY13 versus 14.3% in Q1 FY12 • Sequential improvement of almost
Slide 22: Australia (AUSBU)
Australia (AUSBU) • Australia represented 12% of Bristow operating revenue and 11% of adjusted EBITDAR* in Q1 FY13 • Operating revenue of $38.2M in Q1 FY13 decreased from $40.9M in Q1 FY12 due to a decrease in overall flight activity • Adjusted EBITDAR increased to $10.3M in Q1 FY13 from $8.3M in Q1
Slide 23: Other International (OIBU)
Other International (OIBU) • Other International represented 11% of Bristow operating revenue and 12% of adjusted EBITDAR* in Q1 FY13 • Operating revenue decreased to $33.2M in Q1 FY13 vs. $34.5M in Q1 FY12 due to decrease in activity in Ghana and the end of a contract in the Baltic Sea • Adjusted E
Slide 24: Organizational chart - as of June 30, 2012
Organizational chart - as of June 30, 2012 Bristow NABU EBU WASBU AUSBU OIBU BRS Academy 16% 39% 21% 12% 10% 2% U.S. GoM – 79/7 UK –32/4 Nigeria – 45/7 Australia –28/10 Mexico – 12/5 Florida – 58/1 Louisiana – 14/1 Alaska – 12/3 Norway – 26/3 Brazil –10/9 U.K. – 5/1 Trinidad – 10 /1 Operated Aircraf
Slide 25: Aircraft fleet – medium and large
Aircraft fleet – medium and large as of June 30, 2012 Aircraft Type No. of PAX Engine Consl Unconsl Total Ordered Medium capacity 12-16 passengers Large Helicopters AS332L Super Puma 18 Twin Turbine 23 - 23 - AW189 16 Twin Turbine - - - 6 EC225 25 Twin Turbine 18 - 18 - Mil MI 8 20 Twin Turbine 7 -
Slide 26: Aircraft fleet – small, training and fixed
Aircraft fleet – small, training and fixed as of June 30, 2012 (continued) Aircraft Type No. of PAX Engine Consl Unconsl Total Ordered Small Helicopters Bell 206B 4 Turbine 1 2 3 - Small capacity 4-7 passengers Bell 206 L-3 6 Turbine 4 6 10 - Bell 206 L-4 6 Turbine 29 1 30 - Bell 407 6 Turbine 39 -
Slide 27: Order and options book as of June 30, 2012
Order and options book as of June 30, 2012 ORDER BOOK* OPTIONS BOOK Helicopter Helicopter # Class Delivery Date Location Contracted # Class Delivery Date 3 Large December 2012 EBU 3 1 Large September 2013 2 Large December 2012 WASBU 0 1 Large December 2013 2 Large March 2013 EBU 2 1 Large March 2014
Slide 28: Consolidated fleet changes and aircraft sales for Q1 FY13
Consolidated fleet changes and aircraft sales for Q1 FY13 Fleet changes Aircraft held for sale by BU Q 1 FY13 EBU WASBU NABU AUSBU OIBU Total Fleet Count Beginning Period 361 Delivered Large 3 - - 3 - 6 S-92 2 Medium 2 1 - 1 7 11 Small - - - - - - Total Delivered 2 Total 5 1 - 4 7 17 Removed Sales (
Slide 29: Operating Revenue, LACE and LACE Rate by BU
Operating Revenue, LACE and LACE Rate by BU Operating Revenue, LACE, and LACE Rate by BU as of June 30, 2012 1 2, 3 Operating revenue LACE LACE Rate EBU $123.2 47 $10.60 WASBU 66.4 22 12.35 NABU 52.6 30 7.05 AUSBU 38.2 18 8.48 4 OIBU 33.2 32 4.22 Total $313.6 147 $8.55 1) $ in millions 2) LACE Rate
Slide 30: Adjusted EBITDAR margin trend
Adjusted EBITDAR margin* trend 2010 2011 Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year EBU 31.2%31.7%31.9%28.0% 30.8% 29.8%31.5%34.6%34.4% 32.7% WASBU 31.7%36.8%33.7%39.1% 36.0% 33.7%36.9%35.8%34.3% 35.2% NABU 18.3%20.0%14.9%17.7% 17.8% 20.8%25.8%15.9% 8.5% 18.5% AUSBU 26.5%36.7%34.4%31.3% 32.4% 33.2%
Slide 31: Adjusted EBITDAR reconciliation
Adjusted EBITDAR* reconciliation Fiscal year ended 3/31/2010 3/31/2011 ($ in millions) Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year Net income $24.0 $33.7 $27.1 $28.7 $113.5 $20.9 $38.8 $42.3 $31.2 $133.3 Income tax expense 9.5 11.2 5.7 2.6 29.0 8.5 3.3 -11.8 7.1 7.1 Interest expense 10.0 10.6 11.0 1
Slide 32: Bristow Value Added (BVA) Sample calculation
Bristow Value Added (BVA) Sample calculation Bristow Value Added = Gross Cash Flow – (Gross Operating Assets X Capital Charge) BVA = GCF - ( GOA X 10.5%** ) Bristow Value Added calculation for Q1 FY12 ($15.4) = $60* - ( $2,874* X 2.625%** ) Bristow Value Added calculation for Q1 FY13 $1.9 = $80* - (
Slide 33: Gross cash flow presentation
Gross cash flow presentation ($ in millions) Gross Cash Flow Reconciliation Q1 FY12 Q1 FY13 Net Income $21 $24 Depreciation and Amortization 23 21 Interest Expense 9 9 Interest Income (0) (0) Rent 9 16 Other Income/expense-net (0) 1 Gain/loss on Asset Sale (1) 5 Special Items 0 2 Tax Effect from Spe
Slide 34: Gross operating asset presentation
Gross operating asset presentation ($ in millions) Adjusted Gross Operating Assets Reconciliation Q1 FY12 Q1 FY13 Total Assets $2,701 $2,740 Accumulated Depreciation 463 468 Capitalized Operating Leases 136 194 Cash and Cash Equivalents (117) (227) Investment in Unconsolidated Entities (210) (201) G
Slide 35: GAAP reconciliation
GAAP reconciliation Three Months Ended June 30, 2012 2011 (In thousands, except per share amounts) Adjusted operating income $ 47,470 $ 34,989 Gain (loss) on disposal of assets (5,315) 1,416 Severance costs for termination of a contract (2,162) — Operating income $ 39,993 $ 36,405 Adjusted EBITDAR $
Slide 36: Leverage reconciliation
Leverage reconciliation Debt Investment Capital Leverage (a) (b) (c) = (a) + (b) (a) / (c) (in millions) As of June 30, 2012 $ 736.3 $ 1,540.7 $ 2,277.0 32.3% Adjust for: Unfunded pension liability 109.8 109.8 NPV of all lease obligations 217.0 217.0 Letters of credit 1.5 1.5 Adjusted $ 1,064.6 (d)
Slide 37: Contact us
Contact us Bristow Group Inc. (NYSE: BRS) th 2103 City West Blvd., 4 Floor Houston, Texas 77042 t 713.267.7600 f 713.267.7620 bristowgroup.com 37