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1MEDSERV Operations Ltd Medserv p.l.c. 15 April 2010.

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Presentation on theme: "1MEDSERV Operations Ltd Medserv p.l.c. 15 April 2010."— Presentation transcript:

1 1MEDSERV Operations Ltd Medserv p.l.c. 15 April 2010

2 2MEDSERV Operations Ltd

3 MEDSERV p.l.c.  Introduction  Financial Highlights 2009  Operations 2010  Financial Forecasts 2010  Conclusion Medserv p.l.c AGENDA 2

4 MEDSERV p.l.c. 2009  A challenging year for all business including the oil & gas industry  Record profits before tax  Cash profits  Diversification of revenue stream  Misurata base contributed 31% to the owners of the Company  Efforts to enter new markets including Egypt and Italy Medserv p.l.c OPENING STATEMENT 3

5 MEDSERV p.l.c. Medserv p.l.c FINANCIAL HIGHLIGHTS 2009 Consolidated Statement of Comprehensive Income 20092008 €€ Revenue17,528,22715,565,257 Gross profit4,780,847311,8348 Results from operating activities3,255,8431,064,821 Net finance expense(72,739)(89,400) Profit before income tax3,183,104975,421 Earnings per share23c311c3 4

6 MEDSERV p.l.c. Medserv p.l.c FINANCIAL HIGHLIGHTS 2009 Segmental Reporting Significant profit margin improvements in both reporting segments. 5

7 MEDSERV p.l.c. Medserv p.l.c FINANCIAL HIGHLIGHTS 2009 Revenue Streams........... Malta 6

8 MEDSERV p.l.c. Medserv p.l.c FINANCIAL HIGHLIGHTS 2009 Revenue Streams........... Libya 7

9 MEDSERV p.l.c. Medserv p.l.c FINANCIAL HIGHLIGHTS 2009 Consolidated Operating Cash Flows Operating funds used in  Acquisition of property, plant and equipment amounted to €1,030,105 (2008: €803,411)  Repayment of bank loans €509,298 (2008: €556,787)  Dividends payment €390,000 (2008: nil) Cash generated from operations in 2009 was more than double that generated in previous year 8

10 MEDSERV p.l.c. Medserv p.l.c FINANCIAL HIGHLIGHTS 2009 Consolidated Statement of Position 9

11 MEDSERV p.l.c. Medserv p.l.c FINANCIAL HIGHLIGHTS 2009 Working Capital Position  The Group ensures that it has sufficient cash on demand to meet expected operational expenses for a period of 60 days, including the servicing of financial obligations.  During the year the Company increased its bank overdraft facility from €745,500 to €1,500,000 in order to fuel working capital requirements 10

12 MEDSERV p.l.c. 2010  Re-organize for resilience Malta  Business changing from one associated with supporting drilling operations to servicing rig owners and projects linked to platforms, or platform regeneration or installation.  Work schedule includes mobilisation of African Installer barge, Ensco rig, MG Hulme and Songa Saturn.  Supporting drilling operations for a multinational oil & gas company, which is expected to commence in the last quarter of 2010. Medserv p.l.c OPERATIONS 11

13 MEDSERV p.l.c. 2010 Misurata, Libya  Handling all BP tubular operations within the port of Misurata  Contracted by Exxon to carry out all mud cleaning and disposal operations  Gazprom drilling programme of 5 offshore wells is expected to commence in mid- 2010. Minimum of 10 month operation. Medserv p.l.c OPERATIONS 12

14 MEDSERV p.l.c. 2010 NEW Markets All expansion plans are client oriented  Egypt –Partner identified –Oil and gas is currently a bear market  Tunisia  Sicily, Italy Medserv p.l.c OPERATIONS 13

15 MEDSERV p.l.c. Stocktaking 2010  The global economy is expected to start showing signs of recovery in 2010.  Demand for oil and gas will increase and push up the price. Already at over $ 85 a barrel.  This will once again set in motion exploration activity.  Medserv will continue to invest in people to make sure we may meet the expected rise in business.  We will continue to work on attracting rigs and barges to our specialised facilities.  We will continue to work on new development of new markets.  We will continue with our aggressive but cautious approach.  We are cautiously optimistic on the outlook for 2010. Medserv p.l.c Conclusion 14

16 MEDSERV p.l.c. Karl Bartolo Telephone number: 2220 2314 Email address: kbartolo@medservmalta.com Godwin Borg Telephone number: 2220 2306 Email address: gaborg@medservmalta.com Medserv p.l.c Contact Information 15


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