Aker Solutions Asa · OSL:AKSO
Aker Solutions Asa — Investor Presentation (2012)
21 slides from Aker Solutions Asa's investor presentation, Oct 21, 2012
Slide 1: Aker Solutions Investor presentation 2012
Preferred partner Aker Solutions Investor presentation 2012 © 2012 Aker Solutions Preferred partner
Slide 2: This is Aker Solutions
This is Aker Solutions Aker Solutions brings together engineering, technologies and services for oil and gas drilling, field development and production Exploration Development Production Decommissioning Geological Concept, Process Tie-ins Drilling Planning of safe interpretation FEEDs op
Slide 3: Increased energy consumption underpins market growth
Increased energy consumption underpins market growth World liquid fuels consumption Global E&P capex spend 92 Million barrels per day (mmbpd) 90 Actual 88 May 2012 Forecast 86 May 2011 Forecast May 2010 84 Forecast May 2009 82 Forecast 80 Source: Global E&P Spending Update, Barclays Capital Equity R
Slide 4: Spending expected to grow across regions 2011-2015
Spending expected to grow across regions 2011-2015 North Sea Average in selected New discoveries increase offshore regions confidence USD bn % CAGR Ship yards in Asia North America Chinese yards expected Increasingly deeper waters, to grow pick up after Macondo Middle East USD bn Oilfield complexity
Slide 5: Business areas
Business areas Engineering Drilling technologies Subsea Umbilicals Process systems Mooring and loading Maintenance, Oilfield services Well intervention systems modifications and and marine assets services operations © 2012 Aker Solutions Investor presentation Preferred partner
Slide 6: Unique portfolio with wide product offering
Unique portfolio with wide product offering UMB DRT SUB MLS MMO PRS WIS ENG OMA Aker Solutions FMC Cameron National Oilwell Varco GE Oil & Gas Schlumberger Halliburton Amec WorleyParsons Wood Group Petrofac Technip © 2012 Aker Solutions Investor presentation Preferred partner
Slide 7: Aker Solutions uniqueness – combining strength
Aker Solutions uniqueness – combining strength Åsgard Cat-B SUB 50% MMO 25% ENG 25% ENG SUB DRT WIS OMA Snorre Ekofisk MMO DRT MMO ENG © 2012 Aker Solutions Investor presentation Preferred partner
Slide 8: Position | Subsea and Umbilicals
Position | Subsea and Umbilicals Market share X-mas trees 2008 to YTD 2012 ■ Global 1 in umbilicals ■ Global 1 in controls ■ Global 4 in X-mas trees ■ Leading position in subsea compression (not measured) ■ Leading position in work-over systems for cross-vendor operations (not measured) Market share
Slide 9: Strategy and market | Subsea and Umbilicals
Strategy and market | Subsea and Umbilicals Strong subsea markets Subsea capex ■ High international tender activity, interesting prospects in Brazil and the North Sea ■ Subsea doubling capacity in Tranby and Port Klang, building new support base in Malaysia ■ Umbilicals to invest in new plant in Mal
Slide 10: Position | Drilling Technologies
Position | Drilling Technologies Market share deliveries topsides 2008 to 2013 Aker Solutions’ installed base doubled since 2007 Semis and drillships 74 Share % 1 71 6 14 12 7 15 23 32 27 13 1 38 3 2 15 NOV AKSO Huisman Installed Semi Drill- Jack- Fixed Installed base ships Ups base Units 92 35 3 20
Slide 11: Strategy and market | Drilling Technologies
Strategy and market | Drilling Technologies Crucial moments in deep-water Expected orders DRT bottom up analyses 20-25 drilling Yearly number of newbuilds (UDW, midwater), 2015-2020 ■91 newbuilds (UDW) on order including Nordea 25 Brazil, analysts expect 20-30 newbuilds per year to 2020 Pareto 27+ ■
Slide 12: Strategy and market | MMO
Strategy and market | MMO Prospects extended North Sea (Norway) market growth1 ■ Upcoming prospects in modifications, USD million frame agreements and hook-ups 60 000 ■ Acquisition of Sandnessjøen 50 000 40 000 Engineering strengthens presence in 30 000 northern Norway 20 000 10 000 0 2011 2012 2013
Slide 13: Oilfield services and marine assets
Oilfield services and marine assets Q1 2012 status Revenues, EBITDA NOK million Cat-B (Statoil) ■ Eight-year, USD 1.9 billion contract signed in 199 203 Q2 143 138 101 Skandi Santos ■ Six consecutive months with above 98% uptime 5 ■ Has performed 36% of Petrobras’ subsea tree installations in Brazil
Slide 14: Cat-B | Oilfield services and marine assets
Cat-B | Oilfield services and marine assets CAT-B Statoil contract a company maker ■Value USD 1.9 billion for 8 years ■Specially designed rig for harsh North Sea environment ■Offers a full range of heavy well intervention and light drilling tasks for client Statoil © 2012 Aker Solutions Investor pre
Slide 15: Group financial targets
Group financial targets Historical growth Growth ambition NOK million NOK million Revenues EBITDA margin 45 000 15 % 3-5 % Acquisitions 40 000 35 000 1-2 % Increased market share 30 000 10 % 5-8 % 25 000 Market growth p.a 20 000 15 000 5% 10 000 2011 2015 5 000 0 0% ■ Revenue growth 9-15 % p.a. 2005
Slide 16: Q1 2012 | Key figures
Q1 2012 | Key figures Revenues and EBITDA Order backlog and order intake NOK million NOK million 12 000 50 000 45 000 42 890 9 837 10 000 40 000 35 000 8 000 30 000 6 000 25 000 20 000 4 000 15 000 11 307 10 000 2 000 1 002 5 000 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2010 2010 20
Slide 17: Q1 2012 | Key figures by business area
Q1 2012 | Key figures by business area Profitability Growth NOK million NOK million Q1 2012 18 % Backlog Revenue WIS 18 % Q1 2011 growth growth 16 % MLS 12 % DRT 76 % 22 % 12 % SUB 22 % 48 % DRT 11 % PRS 17 % -28 % 10 % ENG 11 % UMB 16 % -5 % 10 % MMO -8 % 17 % MMO 9% MLS -16 % 3% 8% SUB 8% ENG -21
Slide 18: Q1 2012 | Consolidated cash flow, NCOA and capex
Q1 2012 | Consolidated cash flow, NCOA and capex ■ Group NCOA of NOK 1.3 billion Net current operating assets (NCOA) NOK million ■ Cat-B investment of NOK 4.0 to 5.0 billion 4 000 ■ Substantial part to be paid upon 3 000 delivery of rig in 2015 2 000 ■ Expected cashout next 12 months 1 000 of approx
Slide 19: Q1 2012 | Financial position
Q1 2012 | Financial position Debt maturity profile NOK million Note: Revolving credit facility of NOK 6 billion, drawn NOK 2 billion, maturing in 2016 ■ Q1 2012 net debt of NOK 4.4 6 000 billion (Q4: net debt of NOK 3.5 5 000 billion) 4 000 ■ Net debt to be reduced by approx. 3 000 NOK 1.5 billion w
Slide 20: Way forward - Our vision and values
Way forward - Our vision and values Built on more than 160 years of industrial tradition Our vision is to be "The preferred partner for solutions in the oil and gas industry" through living ... Our values Open and Hands-on Delivering Customer HSE People direct manage- quality drive mindset and teams
Slide 21: Copyright and disclaimer
Copyright and disclaimer Copyright Copyright of all published material including photographs, drawings and images in this document remains vested in Aker Solutions and third party contributors as appropriate. Accordingly, neither the whole nor any part of this document shall be reproduced in any for