Kongsberg Gruppen Asa · OSL:KOG
Kongsberg Gruppen Asa — Kongsberg — Q1 2023 Earnings Presentation
18 slides from Kongsberg Gruppen Asa's earnings presentation, Apr 27, 2023
Slide 1: Investor presentation Q1 2023
Investor presentation Q1 2023 27/04/2023 Geir Håøy, President & CEO Mette Toft Bjørgen, EVP & Group CFO KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly ag
Slide 2: Disclaimer
DISCLAIMER This presentation contains certain forward-looking information and statements. Such forward-looking information and statements are based on the current, estimates and projections of the Company or assumptions based on information currently available to the Company. Such forward-looking in
Slide 3: Another strong quarter
Another strong quarter Strong domain knowledge in strategically important areas Technology Key enabler to Ramping up! Leadership #1 solve global - building challenges capacity for Leading Industry the future Positions in Defence and Ocean Space WORLD CLASS – Through people, technology and dedication
Slide 4: Highlights first quarter 2023
Highlights first quarter 2023 Strong growth and order intake - Growth and book/bill >1 in all business areas - Solid 2023 visibility Increasing potential and number of prospects for future missile contracts Strong positioning in transforming industries NOK 66.9bn order backlog Order intake R
Slide 5: Business update Kongsberg Maritime
Business update Kongsberg Maritime New build order intake Pax Other NOK 7bn order intake and 1.51 Offshore wind 4% Seaborne book/bill 7% 1% 21% Diversified and solid newbuild order OPU 11% intake Continued strong pace in the aftermarket, especially related to Order backlog (NOK bn) Naval 12% 1
Slide 6: Business update Kongsberg Defence & Aerospace
Business update Kongsberg Defence & Aerospace Strong missile opportunities Several countries have announced NOK 3.8bn order intake and book/bill plans or intentions to purchase Naval 1.09 Strike Missile Growth driven by solid missiles- and US President’s FY24 Budget proposal NASAMS-progress
Slide 7: Business update Kongsberg Discovery
Business update Kongsberg Discovery NOK 1bn order intake and 1.14 book/bill - Hugin Superior to European defence customer Solid exposure towards energy, fisheries, research, security and surveillance Order intake (NOK bn) Order backlog (NOK bn) Order backlog distribution +31% +10% 2.7 57% 2023 1
Slide 8: Business update Kongsberg Digital
Business update Kongsberg Digital 20 dynamic digital twins in operation Signed multi-year agreement with Chevron for Kognitwin Continued roll-out of digital twins and onboarding of new users on existing solutions ~15,300 ~2,000 ~2,150 Vessel Insight ⁓3,000 ~8,400 Kognitwin 20 Vessels Digital T
Slide 9: Financial status
Financial status Mette Toft Bjørgen, EVP & Group CFO KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised repr
Slide 10: Revenue
Revenue (NOK bn) Kongsberg Maritime Kongsberg Defence & Aerospace +24% +43% 4.62 3.74 3.52 2.47 KONGSBERG Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 +29% 9.09 Kongsberg Discovery Kongsberg Digital 7.05 Recurring revenue +23% 0.91 +33% 0.74 0.29 0.22 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 0.1
Slide 11: EBIT and EBIT-margin
EBIT and EBIT-margin (NOK bn, %) Kongsberg Maritime Kongsberg Defence & Aerospace 11.0% 5.0% 12.8% 15.4% 0.51 0.54 KONGSBERG 0.32 0.19 EBIT-margin EBIT (NOK bn) 11.2% Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 7.4% 1.02 Kongsberg Discovery Kongsberg Digital 11.9% 12.8% 0.52 0.12 (0.
Slide 12: Net working capital
Net working capital Kongsberg Maritime & Kongsberg Discovery 14.9%1 9.2% 3.062 1.57 KONGSBERG NWC of LTM-revenue (%) NWC (NOK bn) Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 1.57 Kongsberg Defence & Aerospace 4.6% (10.1%) (24.0%) (1.01) (3.6%) (1.30) (2.44) Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q1 22 Q2 22 Q3 22 Q4 22 Q1
Slide 13: Cash flow development 1.1 - 31.3
Cash flow development 1.1 - 31.3 1.36 (1.01) 3.93 (0.23) (0.42) 3.64 (0.20) 0.20 Cash 01.01 EBITDA Change in Tax and other Investing Financing Translation Cash 31.03 working operating activities activities differences cash capital related items Numbers in NOK bn WORLD CLASS – Through people, technol
Slide 14: Associated companies
Associated companies KSAT Patria EBIT % Revenue (NOKm) EBIT (NOKm) KOG’s share of net profit (NOKm) EBIT % Revenue (EURm) EBIT (EURm) KOG’s share of net profit (NOKm)* 28.7% 11.8% 26.0% 24.9% 9.1% 24.5% 5.4% 6.9% 20.7% 267 (3.4%) 391 389 422 339 352 145 136 80 85 88 88 112 95 87 32 13 9 Q1 22 Q2 22
Slide 15: Outlook
Outlook Kongsberg Defence Kongsberg Kongsberg Kongsberg & Aerospace Maritime Digital Discovery Current backlog secures Positive sentiment in “high Continued increase in Strong positions and solid growth in 2023 value” segments recurring revenues demand from areas such as Increasing number
Slide 16: KONGSBERG – Protecting people & planet
KONGSBERG – Protecting people & planet From deep sea to outer space WORLD CLASS – Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information 16
Slide 17: Financial targets for 2025
Financial targets for 2025 Excluding Kongsberg Digital 2025 Revenue EBIT > 40 Growth > 19 KOG > 17 >12% >4 KOG1 Discovery Defence Maritime Backlog NOKbn Separate 1 WORLD CLASS –targets Throughfor KDItechnology and dedication people, KONGSBERG PROPRIETARY - See Statement of Proprietary information 17
Slide 18: Q&A
Investor presentation Q&A WORLD CLASS – Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information