Beruflich Dokumente
Kultur Dokumente
2019 Half-year
Financial Results
Analysts Presentation
August 2, 2019
Highlight
Financial Results
2
2019 Half-Year : Highlights
(5)
0 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
2015 2016 2017 2018 2019 1H 1H 1H
1H
New Order
1H 2H
Billion JPY
800
700.9
616.3
Woodside SNE FPSO
600 FPSO Almirante Barroso MV32
Project
Client Woodside Energy Client Petrobras
(Senegal) B.V.
Contract EPCI + Time Charter EPCI + Time Charter EPCI + Time Charter EPCI + Time Charter
( 21 yrs ) ( 22 yrs ) (15 years + 5 one-year ( 21 yrs )
extension options)
Delivery
2021 2021 2021 2022
(Planned)
Order received
Progress in 2Q 2019
5
As of August 2019
EPC(I) period
Time Charter fixed period
EPC(I) / Charter / O&M Period Time Charter option period
O&M period
2004
2006
2008
2010
2012
2014
2016
2018
2020
2022
2024
2026
2028
2030
1 TBD FPSO Almirante Barroso MV32 Petrobras 21y
2 35.0 FPSO Area 1 Mexico MV34 Eni 15y
3 20.1 FPSO Guanabara MV31 Petrobras 22y
4 20.1 FPSO Carioca MV30 Petrobras 21y
1 20.1 FPSO
MV29
Cidade de Campos dos Goytacazes Petrobras 20y
2 20.1 FPSO Prof. John Evans Atta Mills Tullow 10y
3 20.1 FPSO Cidade de Caraguatatuba MV27 Petrobras 20y
4 20.1 FPSO Cidade de Itaguai MV26 Petrobras 20y
5 29.4 FPSO Cidade de Mangaratiba MV24 Petrobras 20y
6 34.0 FPSO Cidade de Sao Paulo MV23 Petrobras 20y
7 42.5 FPSO Cidade de Angra dos Reis MV22 Petrobras 15y
8 50.0 FPSO Cidade de Santos MV20 Petrobras 12y 6y
9 45.0 FPSO Cidade de Niteroi MV18 Petrobras 9y 7.5y
10 65.0 FSO Rang Dong MV17 JVPC 9y
11 40.6 FSO Cidade de Macae MV15 Petrobras 20y
12 40.6 FPSO Cidade do Rio de Janeiro MV14 Petrobras 8y
13 42.0 FSO Rong Doi MV12 KNOC 7y
14 50.0 FPSO Baobab Ivoirien MV10 CNR 10y
- 40.0 FPSO Stybarrow Venture MV16 standby 7y+
1 FPSO Raroa OMV 15y
2 FPSO Kwame Nkrumah MV21 Tullow 5y 10y
3 FPSO Pyrenees Venture BHPB 15y
4 FPSO Fluminense Shell 17.5y
Financial Results
7
Market Review
50
25
0
2000 2005 2010 2015
USD/bbl
100 Oil sands
90 15
Row onshore
80
Russia onshore
Offshore
70 Shelf Deepwater
Onshore 10
60 Middle East
50
40 5
30 NA tight liquids
Extra heavy oil
20
0
10
2019(F)
2020(F)
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
billion bbl
0
8
0 200 400 600 800 1,000 1,200 1,400
Source: Fearnley Offshore partially adjusted by MODEC.
Source: Rystad Energy UCube May 2019 partially adjusted by MODEC.
FY2019 : Outlook
24.3
229.9 11.4 15
221.9
18.0 12.0
191.1 10 20
200
8.0
10
12.8
5.0 5.8
5 10
5
0 0 0 0
2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
45
Surplus Dividend・Memorial Dividend
32.5
35 37.5
10
10 Forecasts are not changed
30
22.5
25
27.5
40 42.5 from the beginning of this year
20
15 17.5
10 12.5
7.5 7.5
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 9
Highlight
Financial Results
10
Profit & Loss
11
New Orders / Revenue / Order Backlogs
569.4
534.5
494.7
465.3 *
400 334.3
295.5
253.6
229.9 221.9
188.7 191.1
148.4
92.7
0
2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
1H 1H 1H 1H
12
Influence of Deferred/Realized Profits
/ Equity in Earnings of Affiliates
15
69.2
11.1
10 9.0 9.3
8.0
5.8 5.8 6.1 50
5
0.2
0 25.3
-0.6
-3.0 -2.7
(5)
0
-8.2 -7.9 2015 2016 2017 2018 2019 1H
(10)
13
Balance Sheet
3.3
0 2.0 0 1.0
2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
1H 1H
*Adjustment: Adding MODEC group’s share in affiliates accounted for by the equity method