Kongsberg Gruppen Asa · OSL:KOG
Kongsberg Gruppen Asa — Q1 2014 Earnings Presentation
13 slides from Kongsberg Gruppen Asa's earnings presentation, May 13, 2014
Slide 1: Investor presentation 1st Quarter 2014
Investor presentation 1st Quarter 2014 | 13th May 2014 . 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
Slide 2: An eventful quarter
An eventful quarter • Record high order intake, BNOK 8.6 – Book/bill : 2.17 – BNOK 3.4 (BNOK 2.6) in KM – BNOK 4.7 (BNOK 0.7) in KDS • Strong cash flow from operations, BNOK 1.5 • KM delivers very strong performance – 17.8 % growth, solid margins and strong order intake • KDS has good underlying ope
Slide 3: Financial status Q1 - 2014
Financial status Q1 - 2014 Operating revenues and EBITDA Q1 5 000 4 500 • Q1 revenues MNOK 3,941 4 000 – Underlying revenues in line 3 500 with Q1 2013 3 000 – KM represents 60 % of Q1 2 500 revenues 2 000 1 500 1 000 500 0 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 700 • Q1 EBITDA MNOK 4
Slide 4: Financial status Q1 - 2014
Financial status Q1 - 2014 Operating revenues and EBITDA Q1 – per Segment 4200 3900 13 • Strong revenue growth in KM – 17.8 % 3600 434 3300 • Lower revenues in KDS due to JSM 3000 884 Phase III and new reporting KSAT 2700 271 2400 • Lower revenues in KPS due to reduced 2100 3 941 1800 activity level
Slide 5: Financial status Q1 2014
Financial status Q1 2014 Quarterly trends in orders Backlog of orders 31 % 20 000 18 000 28% 16 000 14 000 41% 12 000 10 000 8 000 2014 2015 2016=> 6 000 After sales and framework agreements not converted into 4 000 delivery contracts are not included in the backlog 2 000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q
Slide 6: Financial status Q1 2014
Financial status Q1 2014 Cash Flow 5100 4800 104 49 4500 4200 1 053 3900 3600 446 3300 3000 2700 4 618 2400 2100 1800 1500 3 272 1200 900 600 300 0 Cash IB EBITDA Q1 Change in other operating Investments Net changes in financing Cash UB related items activities and exchange rates Q1-14 Q4-13 Q1-13 2
Slide 7: Business areas Highlights
Business areas Highlights Kongsberg Oil & Gas Kongsberg Defence Kongsberg Protech Kongsberg Maritime Technologies Systems Systems • Order backlog • Lower revenues, but • Record high order • Challenging start to the increased by 54 % in good margins intake in all segments year, actions taken quarter
Slide 8: Key trends – Maritime, Oil & Gas - as seen from KONGSBERG
Key trends – Maritime, Oil & Gas - as seen from KONGSBERG REVENUE Q1-14 Other • Cost pressure within the whole sector drives new 3% technology and new execution models Defence • Remotely operated subsea fields, environmental 30% monitoring, use of advanced software Maritime/ Oil & Gas 67% • The expl
Slide 9: Key trends – Defence - as seen from KONGSBERG
Key trends – Defence - as seen from KONGSBERG REVENUE Q1-14 Other 3% • Consensus from defence analysts seems to be that overall Defence defence budgets will bottom out in 2014 30% • View has been strengthened over the past months Maritime/ Oil & Gas 67% • Increasing global security challenges drive
Slide 10: 2014 Outlook
2014 Outlook • Kongsberg Maritime – Continued high level of activity for the Offshore and Subsea divisions – The Merchant Marine market has improved • Kongsberg Defence Systems – Several important long-term opportunities – Good backlog provides a robust business platform • Kongsberg Protech Systems
Slide 11: The battle for talent continues
The battle for talent continues Most attractive employers 2013 Your Extreme and the fight for brainpower Play tribute film . 13.05.2014 WORLD CLASS - through people, technology and dedication Page 11
Slide 12: 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 13: kongsberg.com
kongsberg.com . 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 reproduction in whole or in part, must in