Slide 1: Investor Relations Presentation
Exhibit 99.1 Bristow Group Inc. Investor Relations Presentation August 8 – 10, 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 • Stock price*: $45.77/share • Market cap*: ~$1.7 bill
Slide 4: Why Bristow?
Why Bristow? • Bristow is the largest of only two global helicopter providers • Bristow is stable as we have long term contracts that serve mostly production • Bristow is growing with demand not dependent on economic or commodity cycles • Bristow’s asset values are resilient even in depressed econom
Slide 5: TARGET ZERO, our industry leading safety program
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 Nation
Slide 6: 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 7: Contract and operations structure results in predictable income with operating leverage
Bristow’s contract and operations structure results in 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 co
Slide 8: 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 existing clients and new contracts in NNS and No
Slide 9: 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 10: North America (NABU)
North America (NABU) • • North America represented 17% of Bristow operating revenue and 13% of adjusted EBITDAR* in Q1 FY13 • Adjusted EBITDAR almost doubled to $12.2M in Q1 FY13 vs. $6.3M in Q1 FY12 and adjusted EBITDAR margin of 23.2% in Q1 FY13 increased significantly from 14.3% in Q1 FY12 • Sequ
Slide 11: 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 12: 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 13: Our value proposition is based on three principles
Our value proposition is based on three principles: secular growth, financial safety, and balanced return Investment: FY 2012 - 2016 Long term value for our shareholders 2. Prudent Balance Sheet Management with ample liquidity 1. Growth not dependent 3. Capital Return on economic or through dividend
Slide 14: Bristow Growth: opportunities identified between FY13 and FY17
1. Bristow Growth: A wider scope with 428 opportunities identified between FY13 and FY17 80 348 30 56 Total Opportunities * Small Medium Large 14
Slide 15: The market outlook is better as we enter FY13
The market outlook is better as we enter FY13 • The overall market both in terms of tender activity and pricing is Overall improving activity above pre- • North Sea tender activity remains at historic levels 2008 levels • Aircraft supply is tightening with significant SAR requirements (both governme
Slide 16: Bristow enjoys the strongest balance sheet in our industry
2. Bristow enjoys the strongest balance sheet in our industry with ample cash flow, liquidity, and asset value Prudent • Adjusted Debt/Capital Ratio less than 45% with a BBB- Balance rating from Standard and Poor’s sheet • Operating lease strategy used to finance growth with a management much lower
Slide 17: Our focus on returns has yielded much higher operating cash flow
Our focus on returns 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 10-Q for more information on cash flow provided by operating ac
Slide 18: Robust cash and liquidity position
. . . leading to a robust cash and liquidity position Total liquidity 18
Slide 19: Asset values are resilient as demand for helicopters outside oil field services is strong
Bristow’s asset values are resilient as there is strong demand for helicopters outside of oil field services 19
Slide 20: Proven commitment to a balanced return for shareholders
3. Bristow has a proven commitment to a balanced return for our shareholders as demonstrated in the past year • FY12 quarterly dividend initiated at Regular $0.15/share Dividend • We recently increased the quarterly dividend by 33% to $0.20/share • Bristow has a $100 million share repurchase Share a
Slide 21: Unique and balanced return opportunities in various market environments
Bristow provides investors with unique and balanced return opportunities in various market environments 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
Slide 22: 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 22
Slide 23: Appendix
Appendix Oe ZERO ACCIDENTS / ZERO DOWNTIME / ZERO COMPLAINTS
Slide 24: Organizational Chart - as of June 30, 2012
Organizational Chart - as of June 30, 2012 Operated Aircraft Bristow owned and/or operated 357 aircraft as of June 30, 2012 Affiliated Aircraft Key Bristow affiliates and joint ventures operated 194 aircraft Corporate as of June 30, 2012 Business Unit (% of FY13 Operating Revenue) Region ( # of Airc
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 - Bell 206 L-3 6 Turbine 4 6 10 - Small capacity 4-7 passengers Bell 206 L-4 6 Turbine 29 1 30 - Bell 407 6 Turbine 39 -
Slide 27: Operating lease strategy
Operating lease strategy: 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 2
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 Large 3 - - 3 - 6 Delivered Medium 2 1 - 1 7 11 S-92 2 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 Operating revenue1 LACE LACE Rate 2,3 EBU 123.2 47 10.60 WASBU 66.4 22 12.35 NABU 52.6 30 7.05 AUSBU 38.2 18 8.48 OIBU4 33.2 32 4.22 Total 313.6 147 8.55 1) $ in millions 2) LACE Rate is annu
Slide 30: 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 31: 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 32: 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
Slide 33: Bristow Value Added (BVA)
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 = $80* - (
Slide 34: Gross Cash Flow Presentation
Gross Cash Flow Presentation (in millions) Gross Cash Flow Reconciliation Q1 FY12 Q1 FY13 Net Income 21 24 Depreciation and Amortization 23 21 Interest Expense 9 9 Interest Income (0) (0) Rent 9 16 Other Income/expense-net (0) 1 Gain/loss on Asset Sale (1) 5 Special Items 0 2 Tax Effect from Special
Slide 35: Gross Operating Asset Presentation
Gross Operating Asset Presentation (in millions) Adjusted Gross Operating Assets Reconciliation Q1 FY12 Q1 FY13 Total Assets 2,701 2,740 Accumulated Depreciation 463 468 Capitalized Operating Leases 136 194 Cash and Cash Equivalents (117) (227) Investment in Unconsolidated Entities (210) (201) Goodw
Slide 36: GAAP reconciliation
GAAP reconciliation Three Months Ended June 00, 2012 2011 ~Unthousands, except per _ share amounts) Adjusted operating income sSausscscuesexs §. ATA: §$ 34,989 Gain (loss) on disposal of assets... a (5.315) 1416 Severance costs for termination of a contract (2,162) _ Operating income 2222s eas $39,9
Slide 37: 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 38: 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 38