DEME (AvH 60.4%) One of the largest and most diversified dredging and marine engineering companies in the world

Transcription

1 12 DEME (AvH 60.4%) One of the largest and most diversified dredging and marine engineering companies in the world Minerva near Blankenberge Pearl River in Maldives Scheldt River (new 8,400 m³ hopper in operation since H2 2017)

2 13 DEME: HIGHLIGHTS 2017 Turnover increase driven by strong growth of GeoSea Economic turnover (1) of 2,365.7 mio (2016: 1,978.2 mio) More than 1 billion turnover realized by GeoSea: a.o. offshore wind farms Horns Rev (Denmark), Merkur and Hohe See (Germany), Galloper (UK) and Rentel (Belgium). Strong order backlog Order backlog of 3,520 mio. Largest projects acquired in 2017: New Terneuzen Lock (civil marine works, 300 mio), Modular Offshore Grid Elia (marine works, 130 mio) and Rijnlandroute ( 123 mio). Projects not yet included in order backlog (total value: 1,744 mio): Fehmarnbelt Fixed Link, Blankenburgverbinding, Moray East and Triton Knoll offshore wind farms (see further for details). Acquisitions by GeoSea A2SEA: Investment of 167 mio (net of cash) - An important player active in installation of offshore wind turbines (160 employees; 2 high-tech installation vessels Sea Installer, Sea Challenger; order backlog 141 mio). G-tec: Acquisition of 72.5% - Belgian firm specialised in offshore geotechnical and geological marine investigation as well as in deep sea engineering services. Investment program in anticipation of strong activity Total capex of (incl mio on acquisition A2SEA). (1) Economic, i.e. including proportionate share of entities under common control

3 14 DEME: KEY FIGURES (in mio) (1) (2) (1) (2) (1) (2) Turnover 2, , , , , ,351.0 EBITDA EBIT Net result Shareholder s equity 1, , , , , ,132.9 Net financial position Total assets 3, , , , , ,233.5 Capex (incl. IAS16) (3) # personnel 4,488 4,284 4,186 (1)Following the introduction of the new accounting standards IFRS10 and IFRS11, group companies jointly controlled by DEME are accounted for using the equity method with effect from 1 January (2)In this presentation, the group companies that are jointly controlled by DEME are still proportionally integrated. Although this is not in accordance with the new IFRS10 and IFRS11 accounting standards, it nevertheless gives a more complete picture of the operations and assets/liabilities of those companies. In the equity accounting as applied under (1), the contribution of the group companies is summarized under one single item on the balance sheet and in the income statement. (3) Including A2SEA acquisition for mio

4 15 DEME: KEY FIGURES Consolidated key figures in % of economic turnover Net result EBIT EBITDA 23.8% 22.8% 17.3% 19.4% 19.3% 13.5% 8.6% 6.5% 10.0% 8.5% 7.8% 11.0% 6.6% 9.4% 4.3%

5 16 DEME: CAPACITY UTILIZATION # weeks 2017 * CUTTERS (1) HOPPERS (1) Weighted average (KW)

6 17 DEME: DIVERSIFICATION OF ACTIVITIES GeoSea Thor Construction of OWF: marine works, foundations and installation Tideway Flintstone Rentel Fallpipe and cablelaying works C-Power Development of OWF concessions/projects DEC Ecoterres Bluegate Antwerp Remediation of contaminated land DBM Marine sand and gravel as building material GSR Patania Robot (protoype) for deep sea harvesting of minerals

7 18 DEME: BREAKDOWN OF ECONOMIC TURNOVER Per region, activity and type of customer 12% 13% 7% 8% % 12% 10% 5% 3% % Europe Asia & Oceania Africa Middle East & India America 10% 34% 7% 3% % 34% 8% 47% 7% 3% % 14% Capital dredging Maintenance dredging Marine works Fallpipe & landfalls Environmental Civil works 2% 11% 15% 43% 29% 2% 10% 6% % 34% Renewables Government Oil and gas Mining Other

8 19 DEME: ORDER BACKLOG Order backlog 2017 of 3,520 mio (vs 3,800 mio end of 2016), well diversified across different regions and activities ,520 ( mio) 10% % 14% % % Benelux Europe Asia Pacific Middle East + India Other

9 20 DEME: ORDER BACKLOG NEW IN 2017 New Terneuzen Lock (Netherlands): joint venture, (approx. 300 mio turnover for DEME). Elia Modular Offshore Grid: submarine power cable installation in North Sea ( 130 mio). Rijnlandroute (Netherlands): road infrastructure incl. bored tunnel (DEME 123 mio). Old Port Doha (Qatar): joint venture (total contract 100 mio). India and Maldives: dredging and land reclamation. Total value of 100 mio. Offshore windfarms in Germany: Hohe See (71 turbines MW), Albatros Ayer Merbau reclamation (Singapore) ( 70 mio) Projects in Europe and Africa (total of 240 mio): Maintenance dredging on the river Elbe in Germany, a gas terminal in Angola, the Freeport of Liberia and the port of Abidjan in Ivory Coast; Works at several ports in France and in Ghana; Coastal protection works in the UK and in Benin; Dredging works in the port of Barcelona; Maiyegun Waterfront in Lagos. NOT YET INCLUDED ( 1,744 MIO) Projects awarded or preferred bidder, but not yet included in order backlog as of Fehmarnbelt Fixed Link: longest immersed road and rail tunnel (18 km) connecting Denmark with Germany. Contract value of approx. 700 mio. Blankenburgverbinding (NL): design, construction, management and maintenance for 20 years of the Blankenburgverbinding, the A24 link between the A20 and A15 motorways. Offshore wind farms Moray East (EPCI turbines, 3 platforms), Triton Knoll (transport and installation - 90 turbines, 860 MW)

10 21 DEME: INVESTMENT PROGRAM 6 vessels under construction Gulliver (1H18) Self-propelled crane ship (4,000 T) Living Stone (1H18) Multipurpose fall-pipe vessel Spartacus (2019) Cutter suction dredger Apollo (1H18) Self-propelled jack-up vessel (800 T) Bonny River (2019) Trailing suction hopper dredger (15,000 m³) Orion (2019) Offshore crane vessel

11 22 DUAL FUEL HOPPER DREDGERS Advantage of dual fuel - Can also operate in LNG mode. - Reduction of carbon dioxide emissions, almost eliminating sulphur, NOx and particle emissions. - LNG is intrinsically clean so no need for exhaust gas cleaning systems. Scheldt River Hopper dredger (8,400 m³) Operational since 2017 Minerva Hopper dredger (3,000 m³) Operational since 2017

12 23 GEOSEA FLEET Jacking system: leg length 57 m 55 m 79 m 82 m m 89 m m Delivery: 2018 (under construction) Delivery: 2019 (under construction)

13 24 DEME: SOLUTIONS FOR GLOBAL CHALLENGES

14 25 DEME: LONG TERM TRACK RECORD OF SHAREHOLDING AND ENTREPRENEURIAL GROWTH in Turnover Equity Creation Dredging International (AvH + CFE dredging) Scaldis Tideway Power@Sea DEC GeoSea HGO acquisition (Innovation) Creation DEME Holding (Acquisition Decloedt) DBM (Building Materials) CTOW DEME Blue Energy A2SEA acquisition Consolidation Partnership Control AvH 45% AvH 39.5% AvH 48.5% AvH 50% AvH 60.4%