15 slides from Integrated Wind Solutions Asa's earnings presentation, November 2022
Slide 1: Q3 2022 Presentation
Q3 2022 Presentation November 2022
Slide 2: IWS | A fully integrated offshore wind solutions provider
IWS | A fully integrated offshore wind solutions provider 1) 30% ownership. Fixed price option exercisable within three years from original share purchase to acquire an additional 19% of 2 shares (pre-dilution from share-based option program to key employees)
Slide 3: IWS business areas | Covering integrated services and asset management
IWS business areas | Covering integrated services and asset management Integrated Services Operations and Asset Management 97%1) 100% 30% → 49%2) Electrical engineering & Owner and operator of services and strategic high-end CSOVs A leading provider of advisory Operations and Asset Management 1) 97%
Slide 4: Q3 2022 | Highlights
Q3 2022 | Highlights Total revenue of NOK 59m and EBITDA of NOK -4m for Q3 2022 vs. NOK 56m and NOK -3m for Q2 2022, respectively. The construction work on the CSOV newbuildings in China Merchant Industry ("CMI") is progressing well, with delivery of the first vessel expected in Q2 2023. The launch
Slide 5: Q3 2022 | Highlights (cont.)
Q3 2022 | Highlights (cont.) 5
Slide 6: IWS Skywalker | Commissioning Service Operation Vessel (CSOV)
IWS Skywalker | Commissioning Service Operation Vessel (“CSOV”) 6
Slide 7: IWS Skywalker | Launched November 2022
IWS Skywalker | Launched 8 November 2022 7
Slide 8: Offshore Wind Market Update
OFFSHORE WIND MARKET UPDATE European countries continue to increase offshore wind targets A quarterly 6 GW increase of the 2030 capacity forecast to a total of 142GW (from 133GW in QT and 136GW in Q2) European 2030 capacity forecast (GW) Market updates 142 142 * The European market forecast is incre
Slide 9: CSOV market | Favourable market dynamics
CSOV market | Favourable market dynamics Growth in offshore wind turbines (# ‘000)* Vessel supply & demand (#) “Tier 3 swing-tonnage” Gap filled by High oil & gas prices have led to a resurgence in oil & gas work for vessels that have used the wind market as a temporary source of employment during t
Slide 10: IWS Fleet | CSOVs contracted at attractive prices
IWS Fleet | CSOVs contracted at attractive prices Newbuilding yard prices1 (EUR million) Four CSOVs ordered at an attractive average yard price of EUR 46m. Standard Chinese yard prices. IWS orders have included additional equipment and feature adding about EUR 4-7m to standard yard prices. 10 1) Sou
Slide 11: IWS Fleet | Well positioned to benefit from a strong market
IWS Fleet | Well positioned to benefit from a strong market Under construction Firm contracts Options 11 1) The contract will be effective when contractual documentation is completed, expected in Q4 2022.
Slide 12: Key financials | Q3 2022
Key financials | Q3 2022 Income statem (NOK Q3 2022 Q2 2022 PEAK Wind share of net profit of NOK 1.5m less NOK 0.9m Operating revenue 98,388. 54,861 amortisation of acquisition-related intangible assets. Share of net profit of associates i 605 1,302 Total revenue 58,993 56,163 Operating expenses © -
Slide 13: Key financials | Q3 2022
Key financials | Q3 2022 lance sheet (NOK '000) Q32022 © Q2 2022 Q3 2022 —Q2. 2022 Vessels under construction 384,648 376,227 Share capital 57,076 57,076 Intangible assets 68,233 67,846 Share premium reserve 970,687 970,687 Investments, equity method (PEAK Wind) 137,034 133,321 Retained earnings -15
Slide 14: Outlook
Outlook Highly positive outlook for the offshore wind industry. Well-positioned to take part in the industry growth by providing CSOVs, electrical works (ProCon), offshore wind consultancy (Green Ducklings), and the consultancy & advisory and operations & asset management services of wind farms prov
Slide 15: iws@integratedwind.com integratedwind.com
iws@integratedwind.com integratedwind.com