Restricted Group Data as of December 31, 2012

Transcription

1 Restricted Group Data as of December 31, 2012 For the year ended December 31, 2012, Restricted Group Data represents the selected consolidated financial information excluding (i) the property business segment (other than two small properties), (ii) the business segment of Adactum, whose activities consist primarily of investing in companies outside our traditional lines of business, and (iii) our subsidiaries Stena Investment Luxembourg S.àr.l., Stena Royal S.àr.l, Stena Investment Cyprus Ltd and Mondaldi Ltd. Our real estate operations and the business of Adactum are conducted through various subsidiaries, which, together with our subsidiaries Stena Investment Luxembourg S.àr.l., Stena Royal, Stena Investment Cyprus Ltd and Mondaldi Ltd, are designated as unrestricted subsidiaries under the indentures governing the Senior Notes and, as a result, are not bound by the restrictive provisions of those indentures. In March 2010, we completed an offering of 200 million of Senior Notes due In April 2010, we redeemed the total $153 million outstanding principal amount of our Senior Notes due 2013 at a price of 102.5%. As of December 31, 2010, we had outstanding $128.8 million principal amount of Senior Notes due 2016, 300 million principal amount of Senior Notes due 2017, 102 million principal amount of Senior Notes due As of December 31, 2011, we had outstanding $128.8 million principal amount of Senior Notes due 2016, As of December 31, 2012, we had outstanding $128.8 million principal amount of Senior Notes due 2016, As of March 31, 2013, we had outstanding $128.8 million principal amount of Senior Notes due 2016, Stena gave notice to the trustee on March 5, 2013, in respect of the 2016 Notes and those securities was redeemed in their entirety as of April 5, 2013 at a redemption price of % of the principal amount of the 2016 Senior Notes plus accrued and unpaid interest to but excluding the Redemption Date. Once that redemption occurred, Stena will no longer be required to file Annual Reports on Form 20-F with the SEC. Stena s remaining euro-denominated notes, however, will continue to require the publication of annual reports and quarterly and current information, in each case on Stena s website (with a copy provided to the trustee).

2 SELECTED FINANCIAL DATA The following information is presented solely for the purpose of additional analysis for investors of our results of operations and financial condition. INCOME STATEMENT DATA: Revenues from operations 20,617 20,810 19,533 18,842 19,860 Net gain on sale of vessel , Total revenues 20,820 20,959 19,535 20,419 19,884 Direct operating expenses (13,083) (12,912) (12,597) (12,344) (12,537) Selling and administrative expenses (2,109) (2,068) (1,985) (2,120) (2,201) Depreciation and amortization (2,376) (3,195) (3,487) (3,424) (3,563) Total operating expenses (17,568) (18,175) (18,069) (17,888) (18,301) Income from operations 3,252 2,784 1,466 2,531 1,583 Interest income Interest expense (887) (1,032) (1,128) (1,158) (1,607) Other financial items 1) (55) 853 Total financial income and expense (207) (747) (798) (911) (504) Minority interest (3) 0 (1) (1) (1) Group Contribution Income before taxes 3,042 2, ,619 1,268 Net income 3,010 2, ,635 1,099 (1) Other financial items refer to financial income (expense) including dividends received, gain (loss) on securities, foreign exchange gains (losses) and other financial income (expense).

3 BALANCE SHEET DATA: Intangible fixed assets ,322 Tangible fixed assets 33,541 35,619 38,150 42,867 45,642 Marketable securities Other noncurrent assets 13,654 11,635 13,268 15,546 16,696 Total noncurrent assets 48,478 48,102 52,469 59,773 64,430 Short-term investments 3,618 2,487 3,613 2,417 1,354 Cash and cash equivalents Other current assets 9,716 6,380 5,039 5,187 5,462 Total current assets 14,251 9,435 9,379 8,413 7,652 Total assets 62,729 57,537 61,848 68,186 72,082 Total shareholders equity 23,672 23,331 22,405 24,365 24,219 Deferred income taxes ,115 1,295 Other provisions 3,140 2,934 2,445 2,221 1,529 Long-term debt 27,225 24,283 30,761 32,098 36,068 Other noncurrent liabilities 2,591 1, , Total noncurrent liabilities 33,734 29,171 35,023 36,676 39,122 Short-term debt 972 1,989 1,599 2,005 3,128 Other current liabilities 4,350 3,046 2,821 5,140 5,613 Total current liabilities 5,322 5,035 4,420 7,145 8,741 Total shareholders equity and liabilities 62,729 57,537 61,848 68,186 72,082

4 CONSOLIDATED STATEMENT OF CASH FLOW: Net income 3,010 2, ,635 1,099 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 2,376 3,195 3,487 3,424 3,563 (Gain) on sale of assets (203) (148) (2) (1,577) (24) (Gain)/loss on securities, net (180) (380) (95) 154 (264) Unrealized foreign exchange (gains) losses (125) 352 (28) Deferred income taxes (164) (218) (426) (163) 33 Minority interest 3 1 Other non-cash items (165) 346 (86) Provision for pensions (235) (198) (445) (166) (147) Net cash flows from trading securities 994 (107) (27) 159 (68) Changes in working capital (185) (1,011) Net cash provided by operating activities 5,126 5,564 3,965 4,457 3,760 Net cash flows from investing activities: Purchase of intangible assets (44) (38) (21) (30) (352) Cash proceeds from sale of property, vessels and equipment , Capital expenditure on property, vessels and equipment (7,878) (7,764) (9,073) (8,980) (7,922) Purchase of subsidiary net of cash acquired (53) (127 (115) (96) Proceeds from sale of securities Purchase of securities (1,448) (70) (296) (98) (75) Increase of non-current assets (589) (14) (336) (130) 6 Decrease of non-current assets (27) Other investing activities (990) (44) (13) (491) (567) Net cash used in investing activities (9,195) (6,800) (9,649) (6,442) (8,713)

5 Net cash flows from financing activities: Proceeds from issuance of debt 6,418 4,079 6,024 3,304 6,383 Principal payments on debt (1,093) (721) (2,816) (1,133) (1,987) Net change in borrowings on line-of-credit agreements 120 (3,888) 5,118 (1,098) 2,982 Proceeds from new capitalized lease obligations Principal payments capital lease obligations (686) (184) (136) (231) (1,331) Net change in restricted cash accounts (1,922) 1,003 (1,425) 1, Intercompany accounts 1, (1,286) 501 (886) Dividends paid (390) (190) (316) (240) (260) Other financing activities (60) (141) Net cash provided by financing activities 4, ,847 2,070 4,950 Effect of exchange rate changes on cash and cash equivalents (4) (3) 30 Net change in cash and cash equivalents 412 (349) Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year