CHC Group Ltd. (NYSE:HELI), the parent company of CHC Helicopter, said it entered fiscal 2015 well positioned to deliver on its long-term financial priorities of strengthening the balance sheet, generating free cash flow and delivering profitable growth.

Along with operating results for fiscal 2014, which ended April 30, the company today provided the first long-term guidance since its initial public offering in January 2014.

Fiscal-2014 fourth-quarter revenue was $453 million, up 3 percent year-over-year. (Except where noted, all comparisons are to the same year-ago period.) A net loss of $26 million represented improvement of $3 million. Adjusted EBITDAR (earnings before interest, taxes, depreciation, amortization and rental costs), excluding special items, was $132 million for the quarter, down 4 percent. All references to EBITDAR in this release represent “adjusted EBITDAR excluding special items.”

William Amelio, CHC president and chief executive officer:

“Major indicators about expected growth in oil-and-gas exploration and production remain positive, especially in deepwater and ultra-deepwater locations. We believe we are positioning CHC well to capture this growth, while delivering on our financial goals for fiscal 2015 and the longer term.”

Joan Hooper, CHC chief financial officer:

“Our team is focused on driving the right things: safe operations, customer satisfaction and operating efficiency. These priorities, along with a disciplined capital-allocation process, will enable us to grow profitably, reduce leverage and accelerate our timeline to become free-cash-flow positive.”

RESULTS

FINANCIAL PRIORITIES

Balance Sheet:

• CHC redeemed $130 million of senior secured notes in the quarter. Following the fourth quarter, the company made additional progress in reducing its debt by completing a $65 million bond-repurchase program. At the fiscal year-end, liquidity was a strong $651 million, and adjusted net debt to EBITDAR was 5.3 times.

Adjusted EBITDAR:

• Consolidated EBITDAR was $471 million for full-year fiscal 2014, down 3 percent in part because of a worldwide suspension of overwater flights with EC225 aircraft during much of the year.

• Full-year adjusted EBITDAR from Helicopter Services, CHC’s flying unit, was up 4 percent. Within Heli-One, the world’s largest independent provider of helicopter maintenance, repair and overhaul (MRO) services, adjusted EBITDAR was down 40 percent.

Growth:

Overall revenue growth was driven by a combination of new, higher-return contracts in multiple Helicopter Services regions, as well as by new power-by-the-hour, or PBH, contracts and other MRO work in Heli-One.

Total flying revenue for fiscal 2014 increased 1 percent, with the largest regional gains made in the North Sea. Full-year sales of third-party MRO services increased 5 percent.

HELICOPTER SERVICES (flying):

• In June, Statoil selected CHC to fly crews, on a five year contract, from Aberdeen or Sumburgh, U.K., to the new Mariner field 250 kilometers off the northeastern coast of Scotland. Mariner is the largest oil-and-gas field development on the U.K. Continental Shelf in more than a decade, with gross investment of more than $7 billion.

• Separately, in May Norway-based Statoil awarded CHC a contract to provide vital helicopter transportation to a new exploration rig in the Atlantic Ocean, off the coast of Newfoundland. Under the contract CHC Canada will operate two Sikorsky S-92 helicopters between a base in St. John’s and Statoil’s West Hercules rig.

• In May, CHC opened a new, larger facility for its existing subsidiary operations at Cabo Frio International Airport, in Brazil’s oil-rich Campos Basin. The hangar improves and streamlines services to customers and passengers, increases aircraft capacity for anticipated long-term growth, and accommodates advanced maintenance operations.

HELI-ONE (maintenance, repair and overhaul):

• Last month, Heli-One took a big step to address current and anticipated needs of MRO customers in Europe and the Middle East, particularly those flying “heavy” helicopters, by formally opening a new, 65,000 square-foot MRO hangar in Rzeszow, Poland. Since February 2013, Heli-One had occupied a temporary facility in Rzeszow, an area recognized for deep aviation instruction, experience and talent.

• Among recent MRO new-business wins were a three-year agreement to provide component and engine services for AAR Airlift’s 20 Sikorsky S-61 helicopters; one to provide exclusive component services for Airbus AS350 aircraft operated by Air Methods Corp.; and a five-year, PBH support contract for a Sikorsky S-76 at Weststar Aviation Services.

GUIDANCE

According to Mr. Amelio, CHC is executing a long-term plan to strengthen the company’s balance sheet, expand EBITDAR dollars and margin, and drive disciplined growth. Those financial priorities, he said, include determined action to reduce leverage and become free-cash-flow positive sooner than originally planned.

CHC’s long-term guidance, Mr. Amelio said, is based on:

1) An opportunity for significant, long-term growth in a fundamentally strong market, particularly deepwater and ultra-deepwater offshore oil-and-gas transportation

2) The company’s expansive global footprint, in both established and newer O&G regions, and safety leadership

3) Operating excellence, enabled by an ambitious transformation and continuous improvement, and

4) The company’s commitment to disciplined growth.

About CHC

CHC Helicopter is a leader in enabling customers to go further, do more and come home safely, including oil and gas companies, government search-and-rescue agencies and organizations requiring helicopter maintenance, repair and overhaul services through the Heli-One segment. The company operates about 240 aircraft in approximately 30 countries around the world.

Ful story with all the financial satements, tbles etc HERE