S.d. Standard Etc Plc · OSL:SDSD

S.d. Standard Etc — S.D. Standard Drilling — Q3 2017 Earnings Presentation

20 slides from S.d. Standard Etc's earnings presentation, Nov 24, 2017

  1. Slide 1: S.D. Standard Drilling Plc. 3Q 2017 Presentation

    S.D. Standard Drilling Plc. 3Q 2017 Presentation 24 November 2017

  2. Slide 2: Important Information

    Important Information This presentation may contain statements about future events and expectations that are forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believes”, “expects”, “anticipates”, “intends”, “es

  3. Slide 3: Agenda

    Agenda I. Highlights II. Fleet update III. Financial information 3

  4. Slide 4: Highlights for the quarter

    Highlights for the quarter • Large-size - all 3x Standard Vessels (100% owned) worked during the quarter – Positive EBITDA of USD 0.54m for the quarter (2Q17 –USD 2.68m) – Utilization of ~90% for the quarter (2Q17 ~49%) • Mid-size - 5x of the 7x PSV Opportunity III Vessels (25.5% owned) worked durin

  5. Slide 5: Subsequent events

    Subsequent events • Acquired 2x large-size 1000m2 Norwegian-built (‘09/’10) PSV vessels for an en-bloc consideration of USD 22.2m • Raised NOK 200m through an equity offering – Directed towards all registered shareholders of the company – Proceeds used to finance the 2x vessel acquisition and increa

  6. Slide 6: Agenda

    Agenda I. Highlights II. Fleet update III. Financial information 6

  7. Slide 7: Large-size PSV vessels – 100% owned

    Large-size PSV vessels – 100% owned Standard Vessels (5x) Standard Viking Standard Supplier Standard Princess Standard Supporter Standard Provider (2008) (2007) (2008) (2009) (2010) Highlights Highlights Highlights Highlights Highlights • Avg. purchase price: ~USD • Avg. purchase price: ~USD • Avg.

  8. Slide 8: Mid-size PSV vessels – partly owned

    Mid-size PSV vessels – partly owned New World Supply PSV Opportunity III Vessels (7x) Vessels (6x) 25.5% owned 26.2% owned 3x vessels 2x vessels 2x vessels 6x vessels Highlights Highlights Highlights Highlights • Avg. purchase price: ~USD • Avg. purchase price: ~USD • Avg. purchase price: ~USD • Avg

  9. Slide 9: Large-size PSV vessels – contract overview

    Large-size PSV vessels – contract overview Standard Vessels (100% owned) 2017 2018 Vessel Built Client Country 3Q 4Q 1Q 2Q 3Q 4Q Large-size Vessels Standard Viking 2007 Peterson UK Standard Princess 2008 Premier Oil UK Standard Supplier 2007 Ithaca/Centrica/Premier/Maersk Oil UK Standard Provider 20

  10. Slide 10: Mid-size PSV vessels – contract overview

    Mid-size PSV vessels – contract overview PSV Opportunity III (25.5% owned) 2017 2018 Vessel Built Client Country 3Q 4Q 1Q 2Q 3Q 4Q Mid-size Vessels FS Arendal 2006 Repsol UK (1) FS Aberdour 2009 Centrica UK FS Balmoral 2008 Ineos UK FS Kristiansand 2005 Perenco UK FS Braemar 2007 Total/Lay-up UK FS

  11. Slide 11: Utilization overview

    Utilization overview Historical utilization of operating vessels (%)(1) Utilization overview (simple average) Standard Vessels (100% owned) 100% 95% Total days, Total days, YTD Oct-17 90% Period (2017): 1Q17 2Q17 3Q17 Oct-17 Available Worked Total, % 86% S. Princess 72 % 96 % 84 % 69 % 260 220 84 %

  12. Slide 12: Large-size PSV vessels – EBITDA overview

    Large-size PSV vessels – EBITDA overview 3x Standard Vessels (100% owned) (1) YTD Standard Vessels (USD) 3Q17 2Q17 3Q17 Net hire (net of commission) 2 617 337 1 054 622 3 905 896 Admin expenses (21 050) (28 660) (74 979) Start up / Liquidation expenses (8 402) (293 149) (438 594) OPEX/Lay-up costs (

  13. Slide 13: Mid-size PSV vessels – EBITDA overview

    Mid-size PSV vessels – EBITDA overview 7x PSV Opportunity III Vessels (25.5% owned )(1), pro-rata overview YTD PSV Opportunity III Vessels (USD), pro-rata overview 3Q17 2Q17 3Q17 Net hire (net of commission) 603 330 315 282 1 200 518 Admin expenses (20 016) (25 658) (61 938) Start up / Liquidation e

  14. Slide 14: Summary – EBITDA overview

    Summary – EBITDA overview Standard Vessels (100% owned) and PSV Opportunity III Vessels (25.5% owned), pro-rata Standard Vessels PSV Opportunity III, pro-rata (100% owned) (25.5% owned) 1 000 544 500 EBITDA (USD' 000) - 2Q17 3Q17 2Q17 3Q17 (500) (421) (84) (1 000) (1 500) (2 000) (2 500) (3 000) (2

  15. Slide 15: Explanation of the fair value accounting loss in 3Q17

    Explanation of the fair value accounting loss in 3Q17 • SDSD is classified as an investment entity in accordance with IFRS 10 – Investments, including subsidiaries, are not consolidated but measured at fair value trough profit and loss every quarter based on estimates made by reputable independent v

  16. Slide 16: Agenda

    Agenda I. Highlights II. Fleet update III. Financial information 16

  17. Slide 17: Income statement

    Income statement S.D. Standard Drilling – Income statement for 3Q17 Three Months Ended Nine Months Ended 2017 2016 2017 2016 (Amounts in USD 000) Q3 Q3 Q3 Q3 Unaudited Unaudited Unaudited Unaudited Income Changes in fair value on financial assets and financial liabilities at fair value through profi

  18. Slide 18: Balance sheet

    Balance sheet S.D. Standard Drilling – Balance sheet for 3Q17 (Amounts in USD 000) 30.09.2017 31.12.2016 ASSETS Unaudited Audited Intangible assets 2 - Equipment and machinery 1 1 Financial asset at fair value through profit or loss 59 528 5 300 Total non-current assets 59 531 5 301 Trade and other

  19. Slide 19: Cash flow statement

    Cash flow statement S.D. Standard Drilling – Cash flow statement for 3Q17 Nine Months Ended 2017 2016 Q3 Q3 (Amounts in USD 000) Unaudited Unaudited CASH FLOWS FROM OPERATING ACTIVITIES Profit/(Loss) for the period before income tax (4 775) (311) Unrealised exchange gain (418) - Other gains and loss

  20. Slide 20: Gd) stanvaro DRILLING

    Gd) stanvaro DRILLING

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