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9 February 2017 Q4 2016 results & market update
Q4 2016 results & market update Disclaimer
All statements in this presentation other than statements of historical fact are
forward -looking statements, which are subject to a number of risks, uncertainties,
and assumptions that are difficult to predict and are based upon assumptions as
to future events that may not prove accurate. Certain such forward -looking
statements can be identified by the use of forward -looking terminology such as
“believe”, “may”, “will”, “should”, “would be”, “expect” or “anticipate” or similar
expressions, or the negative thereof, or other variations thereof, or comparable
terminology, or by discussions of strategy, plans or intentions. Should one or
more of these risks or uncertainties materialise, or should underlying
assumptions prove incorrect, actual results may vary materially from those
described in this presentation as anticipated, believed or expected. Prosafe does
not intend, and does not assume any obligation to update any industry
information or forward -looking statements set forth in this presentation to reflect
subsequent events or circumstances.
Plan the work - Work the plan
Status, strategy and outlook
•Reinforcing safety culture
•Good operating performance and strong EBITDA
•Impairment of Safe Astoria MUSD 85: No cash effect and no impact on covenants
•Closing of Axis transaction ; 100% of Safe Nova and Safe Vega and 25% of Safe Swift
•New contract for the Safe Caledonia for Total in the UK in 2017
•Extensions for the Safe Boreas and Safe Zephyrus
•Safe Notos commencing contract and Safe Concordia continuing to work
•Johan Sverdrup ITT for 2018 and 2019 received
•Current market is dominated by “Greenfield” – delays could create opportunities
•Cost optimisation ahead of plan with further measures in progress
•Strengthened management team in place
Plan the work - Work the plan
Status, strategy and Outlook
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