Slide 1: Presentation 1st Quarter 2015
Presentation 1st Quarter 2015 Oslo 13.05.2015 CEO Jan Fredrik Meling
Slide 2: News in 1st Quarter 2015
News in 1st Quarter 2015 Taken delivery of «Viking Neptun», a large construction vessel. The vessel has commenced on a 180‐days contract.
Slide 3: News in 1st Quarter 2015
News in 1st Quarter 2015 Statoil has declared an option to extend the contract for 1 year from April 2015 for the LNG fuelled PSV «Viking Energy».
Slide 4: News in 1st Quarter 2015
News in 1st Quarter 2015 Entered into an agreement for early termination of contract for the seismic vessel «Vantage».
Slide 5: News after 31.03.15
News after 31.03.15 Entered into an agreement for installation of Energy Storage System (Battery solution) for «Viking Queen» Extended the fixed period of the contract with Lundin Norway AS from 900 to 1.200 days.
Slide 6: 1st Quarter 2015 results
1st Quarter 2015 results (1st Quarter 2014 in brackets) Revenues MNOK 278,5 (220,5) EBITDA MNOK 167,1 (88,6) Operating profit MNOK 106,1 (26,7) Pre‐tax profit MNOK –103,9 (32,7) Q1 Profits influenced by disagio (MNOK ‐173,7) and termination fee.
Slide 7: Results 1st Quarter 2015
Results 1st Quarter 2015 (in million NOK, Gain on sale excluded) Operating revenue Q1 The results in 1st Quarter compared to last year are influenced of: 400 ‐The subsea vessel “Viking Neptun” was delivered and commenced contract shortly after delivery 200 279 ‐The supply vessel “Viking Queen” has b
Slide 8: Cash Flow (in million NOK)
Cash Flow (in million NOK) 1st Quarter 1st Quarter 2015 2014 2014 Net cashflow from operating activities 68,8 85,1 537,5 Net cashflow from investment activities (943,5) (28,0) (113,3) Net cashflow from finance activities 634,3 (161,0) (457,4) Net changes in cash holdings (240,4) (103,9) (33,2) Cash
Slide 9: Balance
Balance (in million NOK) 7 000 6 000 Current assets Short‐term liab. Current assets Short‐term liab. 5 000 4 000 Long‐term liabilities Long‐term liabilities 3 000 Fixed assets Fixed assets 2 000 Equity 1 000 Equity 0 Assets Equity and Assets Equity and 31.03.15 Liabilities 31.03.14 Liabilities 31.03
Slide 10: Segments
Segments Incl. Share of Joint Ventures Excluded gain on sale (MNOK) 1st Quarter 2015 Seismic Subsea Supply Other Revenue 103,8 124,4 93,8 5,2 EBITDA 103,1 74,3 36,7 ‐6,2 Revenue Q4 2014 EBIT 72,8 39,9 6,6 ‐6,7 EBITDA margin 99% 60% 39% N/A EBIT margin 70% 32% 7% N/A 1st Quarter 2014 Seismic Subsea S
Slide 11: Contract backlog (per 31.03.2015)
Contract backlog (per 31.03.2015) 11
Slide 12: Contract status seismic
Contract status seismic Viking Vanquish Viking Vision Veritas Viking Viking 2 Vantage Oceanic Vega Oceanic Sirius 2015 2016 2017 2018 2019
Slide 13: Contract status subsea
Contract status subsea Subsea Viking Acergy Viking Viking Poseidon European Supporter Seven Viking Viking Neptun 2015 2016 2017 2018 2019
Slide 14: Contract status supply
Contract status supply Viking Queen Viking Lady Viking Athene Viking Energy Viking Avant Viking Nereus SPOT Viking Prince Viking Princess SPOT 2015 2016 2017 2018 2019
Slide 15: Market
Market We still operate in a very challenging market within all three segments. There is excess weight on the supply side and we do not see any tendency of vessels being taken out of operations sufficient enough to restore balance. Some of our vessels will end their contracts in the current year, an
Slide 16: Thanks for Your attention!
Eidesvik Thanks for Your attention!