Académique Documents
Professionnel Documents
Culture Documents
January2016
UsmanAhmed
Usman.ahmed@ibagroup.com
www.ibagroup.com
TwominutesonIBA
SELECTION
EXIT
1.
IDENTIFICATION
OPPORTUNITY
2.
AQUISITION
4.
EXIT
ADDRESSING ISSUES
Key stakeholder DD
Asset DD & values
Benchmarking
Negotiation
3.
BUILDINGVALUE
RUNNING THE ASSET
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Target intelligence
Market entry
Competitive intelligence
Redelivery planning
Technical support and advisory
Maintenance reserves and DOCs
HelicopterServices[DISPUTES,MARKETENTRYETC]
Helicopter
Valuations
Operator
Audits
Helicopter Sales
and Remarketing
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Helicopter Asset
Management
Risk
assessment
Market studies
(SAR, offshore,
utility, VIP etc.)
Finance and
leasing advise
Maintenance Reserves
calculations
New developments
analysis
Helicopter
Ratings
Lease negotiations
Technical sections
review
WorldwideHelicopterFleet
25,000
20,000
15,000
10,000
5,000
0
Light Single
9000
6000
3000
0
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Light Twin
Medium
Super Medium
Heavy
2015HelicopterMarket
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RegionalFleet&Growth
3%
MiddleEast
2%
Africa
5%
Australia&Oceania9%
Asia
9%
LatinAmerica 10%
Europe&CIS 22%
North America 41%
Unknown
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2010
2011
2012
2013
2014
Q3 2015
Backlog
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MarketDrivers OSOG:ImpactofOilPrice
Oil Price has been low before, but not for this length of time.
91.1% of rigs utilised 1 year ago when price was over $100/b. Current utilisation has only dropped
to 77.8%.
Short Term
Drop in demand for OSOG configured helicopters, specially older generation medium/heavy such
as AS332, S-76 and AS365
Medium Term
Long Term
Potential for further drop in demand and retirement of older generation helicopters.
Increase in availability will put some pressure on values of new generation as well
Possible reduction in flying hours would mean revenue from PBH programmes would be affected.
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MarketDrivers Search&Rescue
KeyPoint Thereare700SARhelicoptersandapproximately30%areabovetheageof30
Popular helicopters are S76, S92, EC145, AW139, AW189, Bell 412.
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MarketDrivers Light/MediumTwin
KeyPoint Thereare2,000EMS,470FireFightingand2,800Lawenforcementhelicopters
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HelicopterValues LightSingle
LightSingleEngineMarket ChangeinValue2014>>>2015
4%
2%
2%
0%
0%
1%
0%
0%
2%
1%
3%
4%
2%
3%
6%
8%
7%
7%
8%
9%
10%
12%
KMAX
AW119Koala/Ke
H130
EC130B4
Bell407
AS350B3/H125
Bell206L4
MD600N
H120
Bell206B3
MD520N
Entrom480B
MD500E
R44RavenII
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13%
AS350
12%
14%
HelicopterValues LightTwin
LightTwinEngineMarket ChangeinValue2014>>>2015
6%
5%
8%
4%
6%
6%
10%
2%
2%
H145
1%
4%
EC145/BK117C2
0%
2%
4%
7%
8%
6%
6%
10%
12%
14%
16%
18%
BK117C1
BK117
A109SPGrandNew
A109SGrand
Bell429
H135(EC135T3/P3)
EC135P2/T2
BO105DB
AS355N/NP
A109E
A109A
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MDExplorer
17%
20%
HelicopterValues Medium/SuperMedium
Medium/SuperMediumMarket ChangeinValue2014>>>2015
0%
0%
0%
0%
0%
1%
5%
3%
4%
2%
1%
4%
6%
10%
10%
7%
10%
15%
20%
25%
25%
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AS332L/L1SuperPuma
AW189
H175
AS330JPuma
SokolW3A
AW139
Bell412EP
Bell412
S76D
S76C++
S76C+
Bell212
H155
AS365N3
AS365N2
30%
HelicopterValues Heavy
HeavyHelicoptersMarket ChangeinValue2014>>>2015
0%
0%
2%
4%
4.2%
6%
4.8%
6%
8%
10%
12%
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S92A
KamovKa32
H225
AS332L2SuperPuma
13%
S61
14%
AssetTypes WhyInvestinHelicopters
Recent trends have shown that values are around 70-80% of the
purchase price after 10 years of service
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ExpectedEconomicUsefulLife=40Years
30Years
5
Years
5
Years
AssetTypes WhyInvestinHelicopters
Flexibility multirole capability
Utility Work
Medical Services
Fire Fighting
Mining
Surveillance
Corporate/VIP
Coast Guard
Construction
Sight Seeing
Police
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AssetTypes WhyInvestinHelicopters
SAR operations will be privatised and need for civil SAR helicopters
will increase, finance/leases will be required
Helicopter contracts are very small proportion of the total Oil rig
production costs
Banks are less likely to finance smaller deals (less than $15 million),
which leaves 80% of the market untapped.
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