miclyn express offshore (MIO:ASX)
miclyn express offshore (MIO) Snapshot
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Open
A$1.82
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Previous Close
A$1.83
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Day High
A$1.83
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Day Low
A$1.80
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52 Week High
02/18/13 - A$2.52
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52 Week Low
06/12/13 - A$1.66
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Market Cap
511.0M
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Average Volume 10 Days
233.1K
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EPS TTM
A$0.21
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Shares Outstanding
281.5M
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EX-Date
03/12/13
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P/E TM
8.1x
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Dividend
A$0.05
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Dividend Yield
2.77%
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Miclyn Express Offshore Limited provides service vessels primarily to the offshore oil and gas industry in Asia, international waters, Australia, the Middle East, Africa, and internationally. The company charters a range of offshore support vessels, crew/utility vessels, tugs, barges, and coastal survey vessels to a range of customers operating in various phases of the offshore oil and gas cycle, including exploration, development, and production, as well as to project transportation and the offshore civil construction industry. Its offshore chartering services comprise exploration services, such as seismic survey services, survey chase support, survey and crew boats, and DP support vessels and utility support vessels for OBC; and development services, including anchor handling, offshore supply, accommodation work barges, survey support, ROV and pipe lay support, material and pipe barges, ocean going towing tugs, and utility support services. The company’s offshore chartering services also include production services, such as terminal support, topside maintenance support, safety standby, security patrol, ROV inspection and survey, and personnel transfer services; and civil construction marine support services comprising material and pipe barges, shallow draft towing tugs, shallow water anchor handling, hydrographic survey, dredge support, and material barges. In addition, it provides shipyard services, such as vessel production support, new building, conversion, repair, and maintenance services; offshore transportation solutions and equipment; and offshore vessels marketing services. Miclyn Express Offshore Limited is headquartered in Singapore.
Last Reported Date: 09/27/12
miclyn express offshore (MIO) Top Compensated Officers
miclyn express offshore (MIO) Key Developments
SPECIAL GENERAL MEETING
Miclyn Express Offshore Limited, Special/Extraordinary Shareholders Meeting, Jun 14, 2013., at 11:00 Singapore Standard Time. Location: LEVEL 40, OCEAN FINANCIAL CENTRE. Agenda: To appoint Shane Gong as an additional director of the company; to appoint Jessica Chuk Kay Lau as an additional director of the company; and to approve grant of share options to Executive Director.
Miclyn Express Offshore Limited announced consolidated earnings results for the first half ended December 31, 2012. For the first half, the company reported revenue of USD 127,961,000 compared to USD 126,184,000 reported a year ago. Profit before tax USD 27,685,000 compared to USD 34,947,000 reported a year ago. Net profit attributable to owners of the company was USD 25,162,000 or 9.0 cents per diluted share compared to USD 33,120,000 or 12.0 cents per diluted share reported a year ago. Net cash generated from operating activities USD 30,756,000 compared to USD 49,141,000 reported a year ago. Payments for property, plant and equipment USD 51,479,000 compared to USD 56,101,000 reported a year ago. Operating EBITDA was USD 41.6 million compared to USD 47.1 million reported a year ago. EBITDA was USD 43.0 million compared to USD 47.1 million reported a year ago. On normalized basis, the company reported operating EBITDA of USD 46.2 million, EBITDA of USD 47.6 million and net profit after tax of USD 29.8 million or 10.7 cents per share. Earnings were lower than anticipated mainly due to vessel delivery delays and downtime on some of its high value assets. Net tangible asset backing per share was USD 1.09 compared to USD 0.93 as at December 31, 2011. The company continues to face earnings challenges in the second half of the year with earlier than expected run off of assets in Australia that have been subsequently redeployed into SE Asia at lower returns as well as the expectation of lower contribution from Third Party Vessels as project work winds down. Excluding the one off Iran provision made in first half fiscal 2013, the company expects flat to marginal decline in fiscal 2013 EBITDA against fiscal 2012, the business fundamentals remain sound and it expects a return to growth in fiscal 2014 as new vessels and potential projects come on line. The company announced interim dividend for fiscal 2013 of 2.2 US cents per share payable on April 19, 2013. Ex-date is March 12, 2013 and record date is March 18, 2013.
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Industry Analysis
MIO
Industry Average
| Valuation | MIO | Industry Range |
| Price/Earnings | 8.3x |
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| Price/Sales | 1.8x |
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| Price/Book | 1.3x |
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| Price/Cash Flow | 8.3x |
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| TEV/Sales | 0.9x |
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To contact MICLYN EXPRESS OFFSHORE, please visit www.miclynexpressoffshore.com. Company data is provided by Capital IQ. Please use this form to report any data issues.
Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.
