annual report - Prosafe

Feb 4, 2016 - This survey can be found at the Prosafe web site: www.prosafe.com/getfile.php/PDF%20 · Filer/2016-02%20RDIR%20Report.pdf. In December ...
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ANNUAL REPORT

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This report is a short version of the annual report.

For a full report, including a presentation of executive management and board of directors, information about HSEQA, corporate governance, social responsibility, risk management and financial and analytical information, please refer to the Download centre on Prosafe’s website www.prosafe.com. In order to present updated and correct information at all times, we will endeavour to update the information on the website whenever required throughout the year.

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CONTENT 5 Financial calendar and key figures 6 About Prosafe 8 Directors’ report 24 Statement of the member of the board of directors and other responsible persons 26 Consolidated accounts 70 Accounts Prosafe SE 88 Independent auditors’ report 92 Fleet overview

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FINANCIAL CALENDAR REPORTING RESULTS The following dates have been set for quarterly interim reporting and presentations in 2016: 1st quarter 2nd quarter 3rd quarter 4th quarter

12 May 2016 24 August 2016 3 November 2016 9 February 2017

ANNUAL GENERAL MEETING The AGM for Prosafe SE will be held in the company’s premises at Stadiou 126, CY-6020 Larnaca, Cyprus on 25 May 2016.

KEY FIGURES Note

2015

2014

2013

2012

2011

474.7

548.7

523.5

510.4

449.6

Profit Operating revenues

USD million

EBITDA

USD million

262.9

312.6

306.6

280.1

257.6

Operating profit

USD million

30.8

248.3

245.1

222.4

192.3

Net profit

USD million

(50.6)

178.8

199.1

177.5

158.0

0.21

0.76

0.85

0.80

0.71

Earnings per share

USD

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2

Balance sheet Total assets

USD million

2 187.2 1 816.8 1 619.9 1 487.2 1 376.1

Interest-bearing debt

USD million

1 107.5

830.1

779.6

810.4

760.5

Net interest-bearing debt

USD million

3 1 150.4

707.7

666.2

706.8

667.1

Book equity

USD million

715.2

748.5

739.7

516.3

461.8

32.6 %

41.2 %

45.7 %

34.7 %

33.6 %

USD million

619

725

1 816

1 894

1 529

NOK

21.00

23.00

46.80

47.32

40.99

Book equity ratio

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Valuation Market capitalisation Share price

1. Operating profit before depreciation 2. Net profit / Average number of outstanding and potential shares 3. Interest-bearing debt - Cash and deposits 4. (Book equity / Total assets) * 100

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ABOUT PROSAFE Prosafe is the world’s leading owner and operator of semisubmersible accommodation vessels. The company operates globally and employed 851 people at year-end. 6

storage capacity offshore. Prosafe’s vessels have accommodation capacity for 306-812 people and offer high quality welfare and catering facilities, storage, workshops, offices, medical services, deck cranes and lifesaving and fire fighting equipment. The vessels are positioned alongside the host installation and are connected by means of a telescopic gangway so that personnel can walk to work.

With eight dynamically positioned, one POSMOOR