1. Lewek Constellation backlog, projected revenue and margin
In FY2015, the Constellation is expected to be delivered (targeted Jan / Feb 2015) and will start contributing significantly for 6-7 months. However, she will be on her first non-pipelay job in 2014 during her extended sea trial. Her full year contribution will happen in FY2016, and the AMC platform is expected to be fully leverage by then, generating revenues of between US$2.0 - 2.5bn per annum. At those revenue levels, GP is expected to be between 20 - 25% as the project mix gravitate towards full EPCI projects that the Constellation will support.
In addition, for AMC division in FY2014, we will also see 2 other key project enabling assets in operations. Both assets were only delivered in August/September 2013, hence their impact on the 2013 financials are minimal. We will expect them to contribute to our FY2014 results and going forward.