Bouvet Asa · OSL:BOUV

Bouvet Asa — Q4 2018 Earnings Presentation

27 slides from Bouvet Asa's earnings presentation, Feb 26, 2019

  1. Slide 1: Interim presentation Fourth quarter 2018

    Interim presentation Fourth quarter 2018 Sverre Hurum, CEO Erik Stubø, CFO 26 February 2019

  2. Slide 2: Highlights in the quarter

    Highlights in the quarter Revenue and number of employees MNOK and number o Revenue and EBIT 600 550 • Operating revenues increased by 16.8 percent 500 450 to NOK 535.4 million (y‐o‐y) 400 350 300 • EBIT increased by 32.7 percent to NOK 65.2 250 200 million (y‐o‐y) 150 100 50 o 1 369 employees 0 Q4'

  3. Slide 3: Operational Review

    ©) Operational Review

  4. Slide 4: Our services

    Our services Enterprise architecture Multi‐channel strategy Innovation Business intelligence IT architecture Product strategy Test management Security Project management Information management Digital strategy Service design Data science GDPR Big Data Change mangement Advice Digital marketing Digita

  5. Slide 5: Public and private sector

    Public and private sector Public sector Private sector 51,0 % 51,5 % in Q4’17 48,5 % in Q4’17 49,0 % 5

  6. Slide 6: Business sectors Q4 2018

    Business sectors Q4 2018 Other Bank & finance Retail 2,4 % 4,8 % Power supply 5,6 % Transportation 9,9 % 8,8 % Health Service industry 2,2 % Industry 5,2 % 3,9 % 3,8 % Info and communication Oil & gas 25,1 % 28,3 % Public admin 6

  7. Slide 7: Sectors with high increase in revenue

    Sectors with high increase in revenue o Oil & gas • Increased by 27.2 percent (y‐o‐y) • Represents 25.1 percent of total revenues in Q4’18 o Power supply • Increased by 34.9 percent (y‐o‐y) • Represents 9.9 percent of total revenues in Q4’18 o Retail • Increased by 21.8 percent (y‐o‐y) • Represents

  8. Slide 8: Norske Skog is homeshoring IT-services

    Norske Skog is homeshoring IT‐ services o Norske Skog is taking their Application Management Services (AMS) for the SAP business applications home from Malaysia o SAP AMS is a competence‐based service where local presence strengthens the quality of the delivery. o Bouvet has signed an agreement for

  9. Slide 9: Quote on sustainability portal developed with BarentsWatch and Bouvet

    «Det er forskere fra Nofima og Sintef Ocean som står bak portalen, som er utviklet i tett samarbeid med BarentsWatch og Bouvet.» «De offentlige dataene og forskningsdataene om bærekraft som er samlet i portalen er hentet fra blant annet Brønnøysundregistrene, Fiskeridirektoratet, Mattilsynet, Statis

  10. Slide 10: Customer and project mix

    Customer and project mix Variably priced contracts share of revenues Percentage o Project mix 100% • Variable contracts account for 98.2 percent of 90% total revenues 80% 70% o Customer portfolio 60% 50% • The 10 largest customers represent 36.3 percent Q4'14 Q4'15 Q4'16 Q4'17 Q4'18 of total revenue

  11. Slide 11: Customer development

    Customer development Revenue customer split MNOK o Existing customers* Existing customers* New customers (LTM)** • Accounted for 94.3 percent of revenues in Q4’18 600 o New customers** 500 • Customers won over the past year generated 400 revenues of NOK 30.6 million in Q4’18 300 200 100 * Existing c

  12. Slide 12: Regional organisation

    Regional organisation Trondheim 117 Bouvet Nord ansatte 533 Bouvet Øst ansatte 28 Sesam ansatte 90 Bouvet Bergen Bergen Borlänge ansatte Sandvika Oslo Ørebro Stockholm Haugesund 429 Bouvet Rogaland Sandefjord ansatte Stavanger Skien Arendal Kristiansand 75 Bouvet Sverige ansatte 24 Konsernstab 73 Bo

  13. Slide 13: Enthusiastic and competent employees

    Enthusiastic and competent employees o 1 369 employees at the end of the quarter Number of employees end of quarter • Up 27 from Q3’18 1500 • 154 more employees in the past 12 months 1000 • Average number of employees in the quarter up 500 11.5 percent from Q4’17 0 Q4'14 Q4'15 Q4'16 Q4'17 Q4'18 Annu

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  15. Slide 15: https://tv.nrk.no/serie/viten‐og‐vilje/2018/DMTV23003118/avspiller

    https://tv.nrk.no/serie/viten‐og‐vilje/2018/DMTV23003118/avspiller

  16. Slide 16: Heder og ere til bouvet.no

    Heder og ere til bouvet.no Nettsiden du leser n4, Souvet.no, ble nylig belennet med solv under utdelingen av Farmandprisen 2018. Veldig hyggelig og en fiarr | hatten for ale Bouvet-medarbederne » har bi gen av den nye netisiden, wer kommunikasjonsdirekt Jo Hole. Arbeidet med bo til lansering ~ er ut

  17. Slide 17: Financial Review

    ©) Financial Review 17

  18. Slide 18: Key figures

    Key figures Three months ending Twelve months ending MNOK 31.12.2018 31.12.2017 Change 31.12.2018 31.12.2017 Change Operating revenue 535.4 458.4 16.8 % 1 846.7 1 607.4 14.9 % Operating profit (EBIT) 65.2 49.1 32.7 % 191.6 144.1 32.9 % EBIT margin 12.2 % 10.7 % 10.4 % 9.0 % Ordinary profit before ta

  19. Slide 19: Revenue

    Revenue Revenue split (quarterly figures) MNOK 600 Own consultants o Revenues increased by 16.8 percent y‐o‐y Sub‐contracted consultants 500 Other • Revenues from own consultants increased by 19.2 400 percent to NOK 440.2 million 300 200 • Revenues from sub‐contracted consultants increased by 100 4.

  20. Slide 20: Revenues from own consultants

    Revenues from own consultants Revenue per employee (quarterly figures) o Increased 19.2 percent y‐o‐y TNOK 350 • Positive impact from increase in billing ratio by 0.9 300 percentage points 250 200 • Positive impact from 11.5 percent increase in average 150 100 number of employees 50 • Positive impac

  21. Slide 21: Analysis of change in revenues y-o-y

    Analysis of change in revenues y‐o‐y Revenue MNOK 50 44,4 40 30 20 14,1 11,0 10 4,9 6,0 2,2 0 ‐5,6 ‐10 No. of employees Hourly rate Sick leave, vacation, Billing ratio Sub‐contractors & Progress in projects Number of work days overtime etc other revenue 21

  22. Slide 22: Earnings

    Earnings EBIT and EBIT margin MNOK and Percent o Operating profit (EBIT) increased by 32.7 percent to 80 EBIT EBIT margin 14% NOK 65.2 million 12% 60 10% o EBIT margin of 12.2 percent compared to 10.7 8% 40 percent in Q4’17 6% 20 4% 2% o Operating expenses increased by 14.9 percent y‐o‐y 0 0% Q4'14

  23. Slide 23: Change in revenues – effect on EBIT

    Change in revenues – effect on EBIT Revenue MNOK 50 Change in Revenue Effect on EBIT 44,4 40 30 20 14,1 10,3 11,0 10 9,2 6,5 6,0 4,9 3,6 1,3 2,2 1,6 0 ‐4,1 ‐5,6 ‐10 No. of employees Hourly rate Sick leave, vacation, Billing ratio Sub‐contractors & Progress in projects Number of work overtime etc oth

  24. Slide 24: Cash flow

    Cash flow Cash flow from operations (per quarter) o Cash flow from operations MNOK 250 • NOK 215.9 million in Q4’18 compared to NOK 158.6 200 million in Q4’17 150 o Last 12 months 100 50 • Operational cash flow over the last 12 months was NOK 0 219.0 million ‐50 Q4'14 Q4'15 Q4'16 Q4'17 Q4'18 o Cash

  25. Slide 25: Outlook

    Outlook 25

  26. Slide 26: Outlook

    Outlook o High demand o Decreased demand for large projects o Increased demand for cross‐functional teams working with digital strategy, digital operations improvement, digital employee experience, digital customer experience, digital product and service enablement and digital business model transfo

  27. Slide 27: Shareholders as of 26.02.2019

    Shareholders as of 26.02.2019 Shareholders Number of shares % of total VARNER KAPITAL AS 1 070 000 10,44 % VPF NORDEA AVKASTNING 972 331 9,49 % STENSHAGEN INVEST AS 736 699 7,19 % VIRTUS KAR INTERNATIONAL 714 943 6,98 % HURUM SVERRE FINN 508 779 4,96 % MP PENSJON PK 504 004 4,92 % VEVLEN GÅRD AS 453

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