MMA Offshore Limited

Pareto Securities Oil and Offshore Conference

13 September 2017

Disclaimer

This document contains general background information about the activities of MMA Offshore Limited (MMA) current at the date this document was released to the Australian Securities Exchange (ASX). It is information in a summary form only and does not contain all the information necessary to fully evaluate any transaction or investment. It should be read in conjunction with MMA's other periodic and continuous disclosure announcements to the ASX available at www.asx.com.au.

MMA makes no representation or warranty (express or implied) as to the accuracy, reliability or completeness of this document. MMA and its directors, officers, employees, agents and associates will have no liability for any statements, opinions, information or matters (express or implied) arising out of, or contained in or derived from, or for any omissions from this document, except liability under statute that cannot be excluded.

Not a prospectus: This document is not a prospectus or a product disclosure statement under the Corporations Act 2001 (Cth) and has not been lodged with the Australian Securities and Investment Commission (ASIC). Not investment advice: The information provided in this document is not intended to be relied upon as advice to investors or potential investors and has been prepared without taking into account the recipient's investment objectives, financial circumstances or particular needs. Any investment decision should be made based solely upon appropriate due diligence. Recipients of this document are advised to consult their own professional advisers. An investment in any listed company, including MMA, is subject to significant risks of loss of income and capital. Future performance: This document contains certain forward-looking statements. The words 'anticipate', 'believe', 'expect', 'project', 'forecast', 'estimate', 'likely', 'intend', 'should', 'could', 'may', 'target', 'plan' and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of MMA, and its officers, employees, agents and associates, that may cause actual results to differ materially from those expressed or implied in such statements. Actual results, performance or outcomes may differ materially from any projections and forward-looking statements and the assumptions on which those assumptions are based. You should not place undue reliance on forward-looking statements and neither MMA nor any of its directors, employees, servants, advisers or agents assume any obligation to update such information. Risks: An investment in MMA Securities is subject to investment and other known and unknown risks, some of which are beyond the control of MMA and MMA's directors, employees, servants, advisers or agents. MMA does not guarantee any particular rate of return or the performance of MMA nor does it guarantee the repayment of capital from MMA or any particular tax treatment.

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Overview

MMA is one of the largest providers of marine logistics services to the offshore oil and gas industry in the Asia Pacific region

Capital Structure

$A

Share Price

$0.19

Shares on Issue

373m

Market Capitalisation

$70m

Net Debt

$295m

Enterprise Value

$365m

NTA per share

$0.69

Price to Book

0.27

  • Listed on the Australian Stock Exchange since 1999, previously a member of the ASX200 Index

  • Head Office in Perth, Australia with International Headquarters in Singapore and Regional Office in Dubai, UAE

  • Core fleet of 30 high specification vessels with an average age of 5 years supported by onshore facilities in South East Asia and Australia

  • ~1,000 employees globally

  • We differentiate ourselves through our operational excellence, technical expertise, performance in remote locations and our ability to collaborate with our clients to deliver innovative and cost effective marine solutions

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Performance

Challenging market conditions have impacted recent performance, however EBITDA and utilisation have stabilised FY17 Operations

  • Key ongoing long term production support contracts in Australia (Woodside, ConocoPhillips, INPEX)

  • Term contracts in Middle East, Africa and Thailand

  • Shorter term scopes in Myanmar, Malaysia, Brunei, India

    140

    120

    Historical Performance - Vessels Division

    85% 76%

    76%

    100%

  • Drilling support contracts in South East Asia for large AHTS vessels

  • Ongoing demand for newbuild IMR vessels, MMA Pinnacle and MMA Prestige

    100

    80

    60

    40

    54.2

    120.7

    65%

    78.4

    70% 66%

    58.1

    50%53%

    80%

    60%

    40%

    20%

  • Increased tendering activity but rates remain highly competitive

    Outlook

    20 35.2

    0

    6.7

    7.5

    17.3

    0%

  • Market sentiment improving

  • Early signs of increases in seismic activity, jack up rig tendering and ordering of subsea equipment

  • Challenging conditions expected to continue through FY18 as oversupply in the market is absorbed, however the signs for a recovery are looking more positive

1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17

Vessel EBITDA ($A) Vessel Utilisation *

* Utilisation includes laid up vessels and vessels held for sale

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MMA Offshore Limited published this content on 12 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 September 2017 00:29:04 UTC.

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