Bumi Armada Bhd. · MYX:ARMADA

Bumi Armada Bhd — Shareholder Meeting (June 2015)

20 slides from Bumi Armada Bhd's shareholder meeting presentation, Jun 8, 2015

  1. Slide 1: Annual General Meeting

    Annual General Meeting 8th June 2015 “Knots Ahead of the Rest”

  2. Slide 2: The oil price trend

    The oil price trend  The second half of 2014 saw a sharp decline in oil prices.  The forecast is for a recovery in oil prices, but in the range of USD60-70 per barrel in 2015 and 2016. Bloomberg Consensus Forecast of Brent Brent Prices (Monthly Closing) Pricing 120 120 100 100 80 80 60 60 40 40 20

  3. Slide 3: FY 2014 Results

    FY 2014 Results Revenue EBITDA Net Profit* +15.6% 2,397.3 -11.0% 431.2 2,073.0 994.2 -49.3% 884.4 218.7 FY 2013 FY 2014 FY 2013 FY 2014 FY 2013 FY 2014 Revenue grew by 15.6% year-on-year on the Lower EBITDA after accounting for: Lower Net Profit after accounting for: back of improved contribution fr

  4. Slide 4: Businesses in 2014

    Businesses in 2014 “Knots Ahead of the Rest”

  5. Slide 5: Project locations

    Project locations OPERATING FPSO FPSO UNDER CONVERSION FGS MALTA FSU 5

  6. Slide 6: Increasing project and technical complexity

    Increasing project and technical complexity Topsides Vessel Name Vessel Size Turret / Spread Weight Armada Perkasa Panamax 3,000 Spread moored Armada Perdana Suezmax 4,200 Spread moored Armada Sterling Aframax 6,500 Internal Turret Suezmax <6,500 External Dis- Armada Claire connectable Turret Aframa

  7. Slide 7: Armada Claire

    Armada Claire  The Armada Claire FPSO left Keppel Shipyard in April 2014 for the Balnaves field off the north-west coast of Australia  First oil was delivered on the 12th August 2014 7

  8. Slide 8: Armada Sterling 2

    Armada Sterling 2  Armada Sterling 2 departed Keppel Shipyard for the Cluster 7 Field, India in October 2014.  First oil was achieved in February 2015. 8

  9. Slide 9: FPSO Project Updates as at Q1 2015

    FPSO Project Updates as at Q1 2015 KRAKEN PROJECT 15-06 PROJECT MADURA PROJECT • 5.3 mil man-hours completed • 2.7 mil man-hours completed • 0.08 mil man-hours • Project completion currently at • Project completion currently completed 52%. at 38%. • Project completion currently • All major procureme

  10. Slide 10: FGS - Malta FSU overview

    FGS - Malta FSU overview  Malta FSU project was announced 14th April 2015  Contract is for a fixed term of 18 years and 2 months  Total contract value is USD300 million (approximated RM1.1 billion)  The FSU is expected to begin operations in Malta in June 2016. Donor Vessel – 1985 LNG Carrier Wa

  11. Slide 11: OSV – a global player

    OSV – a global player  First to build DP2 vessels in Malaysia (Steel on Water 1)  First deepwater Malaysia operations for Kikeh  First diesel electric MPSV in Malaysia – Armada Tuah 300 for Shell Gumusut  First to build 4,500 d.w.t. MPSV RUSSIA Caspian Sea NIGERIA Kemaman Labuan MALAYSIA BRAZIL

  12. Slide 12: OSV

    OSV  Secured new charters in Venezuela, (2 vessels), Angola (5 vessels).  Renewals of selected vessel charters in SE Asia.  Challenging year ahead as Q1 2015 utilisation (71% versus 79% at Q4 2014) has already shown a significant downturn. 12

  13. Slide 13: Transport and Installation

    Transport and Installation Services Integrated transport and installation services FPSO Mooring, Riser Installation and Hook-up Armada Hawk, SURF Armada Armada Installer, DLB Vessel Condor Offshore Pipelines and Platforms Installation Installation, Maintenance and Repair works (IMR) SURF EPIC Works

  14. Slide 14: T&I

    T&I  The Armada Installer completed Phase-1 of the LukOil project in the Filanosky field in the Caspian Sea.  The Armada hawk completed the installation of the Armada Sterling II for ONGC in the Cluster 7 field in India. 14

  15. Slide 15: Safe operations

    Safe operations Bumi Armada’s operating and HSE track record was recognised by our clients.  3371 Goal Zero Days Award for 2014 by Sarawak Shell Berhad/Sabah Shell Petroleum Co.  Visible and active engagement with marine crew on the Health, Safety and Environment factors, hazard recognition and ri

  16. Slide 16: Capital raising for growth

    Capital raising for growth Bumi Armada completed two significant funds raising exercises during the year:  The issuance of the RM1.5 billion worth of Sukuk bonds, and  The RM2.0 billion raised by the Rights issue. 16

  17. Slide 17: Leverage and capitalisation

    Leverage and capitalisation Financial capacity intact to execute existing projects Net Debt / EBITDA(1) Gearing ratio(2) 4.5x 4.0x 3.9x 5.1x 4.9x 4.0x 4.8x 3.4x 3.5x 3.0x 3.2x 3.3x 3.2x 2.5x 2.3x 2.0x 1.5x 0.9x 0.9x 1.9x 0.7x 0.9x 1.0x 0.5x 0.9x 0.0x 2008 2009 2010 2011 2012 2013 2014 Q1 2015 2008 2

  18. Slide 18: Q1 2015 Updates

    Q1 2015 Updates Firm contract period Revenue Net Profit* +11.2% OSV, +22.0% RM2.2 572.2 72.0 T&I, bn, 8% 64.8 RM1.2 468.9 bn, 5% FPSO, RM22.2 bn, 87% YTD 2014 YTD 2015 YTD 2014 YTD 2015 *Attributable to BAB shareholders Firm contract period order book: RM25.6bn*  Staff retrenchment exercise complet

  19. Slide 19: On-going actions

    On-going actions  Strategic review of the business segments.  Streamline the organisation.  Rationalisation of the headcount.  Trim overheads and costs.  Focus on executing the 4 major projects.  Improve quality assurance and safety.  Secure strategic partnerships.  Improve the funding struc

  20. Slide 20: Thank You

    Thank You “Knots Ahead of the Rest”

Bumi Armada Berhad — Shareholder Meeting (June 2015) on 6ix