Hav Group Asa · OSL:HAV
Hav Group Asa — Q4 2024 Earnings Presentation
24 slides from Hav Group Asa's earnings presentation, Mar 13, 2025
Slide 1: HAV Group ASA Fourth quarter financial results 2024
HAV GROUP ASA Fourth quarter financial results 2024 Gunnar Larsen, CEO Pål Aurvåg, CFO 13.03.25
Slide 2: Agenda
Agenda 1. Q4 highlights 2. HAV Group in brief 3. Business segment update 4. Financials 5. Summary and outlook 6. Q&A A sustainable future at sea www.havgroup.no
Slide 3: Q4 2024 Highlights
Q4 2024 HIGHLIGHTS Key developments • Solid order backlog of NOK 1,227 million as of 31 December 2024, up 103% from year-end 2023, reflecting strong order intake in recent quarters Operating income EBITDA Cash balance • New orders for more than NOK 200 million signed in Q4 NOK 310.1m NOK 7.9m NOK 25
Slide 4: Order intake & backlog | Strong growth
Order intake & backlog | Strong growth Order intake per quarter Order backlog development +103% 600 570 1600 533 1387 1400 1322 500 1227 1200 1010 400 1000 300 800 604 214 600 200 110 400 100 70 200 0 0 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 NOK 200 million contract to develop S
Slide 5: HAV Group in brief
HAV Group in brief A sustainable future at sea www.havgroup.no
Slide 6: HAV Group in brief
Headquarters Fosnavåg. Norway Enabling optimized vessel performance, safety and operating costs CEO Gunnar Larsen Employees Value proposition: Improves vessel and cargo owners’ competitiveness by providing advice and 172 optimized solutions throughout a ship’s lifecycle Operating income Q4 2024 NOK
Slide 7: Supplier of innovative ship design, energy systems and water treatment
Supplier of innovative Supplier of sustainable Supplier of zero-emission Supplier of ballast water ship design. energy systems. electric hydrogen-based energy treatment systems and pioneering the design propulsion. automation. and systems for vessels. process water treatment and construction of NavC
Slide 8: Our main industry segments
Our main industry segments Offshore wind Oil and gas Ferries and ropax Aquaculture Fishery Short sea cargo A sustainable future at sea www.havgroup.no
Slide 9: Segment information
Segment information A sustainable future at sea www.havgroup.no
Slide 10: Ship design
Ship design Q4 highlights • Development of the most efficient vessels possible. • High revenue in the quarter, due to major equipment deliveries in the period covering every aspect of vessel performance and functionality. through: • Result affected by loss provision related to a specific project and
Slide 11: Energy design and smart control systems
Energy design Q4 highlights and smart control • Solid financial results in the period • New contracts: systems • Green Yard Kleven for delivery of energy design, integrated automation system and future oriented bridge system and battery package to newbuild field support vessel. • Supplier of low and
Slide 12: Water treatment systems
Water treatment Q4 highlights systems • Main sales and marketing focus of ballast water treatment systems (BWTS) shifted from retrofit to newbuilds • Signed contract for water treatment products to live fish carrier • Signed contract within land-based aquaculture • Ballast water treatment systems (B
Slide 13: Hydrogen-based energy systems
Hydrogen-based Status energy systems Maris Fiducia cooperation | ZEPOD® for 5 x dry-bulk newbuild • HAV Hydrogen awaiting Maris Fiducia’s placement of newbuild contract with its chosen shipyard, at which time HAV Hydrogen will enter into discussions to agree on commercial terms and delivery structur
Slide 14: Order backlog: segment breakdown
Order backlog: segment breakdown 1200 1021 1000 30 800 600 Q4 2023 Q4 2024 400 311 250 190 200 1227 46 46 0 External Internal Ship design Energy design & Water treatment smart control systems A sustainable future at sea www.havgroup.no
Slide 15: Financials
Financials A sustainable future at sea www.havgroup.no
Slide 16: Revenue and EBITDA development
Revenue and EBITDA development Revenue EBITDA 350 10 7,9 310,1 300 5 0,0 0 250 -5 200 192,2 -10 150 127,1 134,8 113,5 -15 100 -17,0 -20 -18,9 -18,0 50 -25 -24,8 0 -30 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 A sustainable future at sea www.havgroup.no
Slide 17: Q4 2024 key financials
Q4 2024 key financials NOKm Q4 2024 Q4 2023 2024 2023 Comments • Revenue increase vs Q4 last year mainly Unaudited Unaudited Unaudited Audited driven by higher levels of trading, higher Operating income 310.1 113.5 765.2 617.1 service activity and sales income EBITDA 7.9 -26.1 -34.8 9.1 • Recent con
Slide 18: Segment financials
Ship design Water treatment systems NOKm Q4 2024 Q4 2023 2024 2023 NOKm Q4 2024 Q4 2023 2024 2023 Operating income 183,2 23.8 334,9 249.3 Operating income 17.0 22.2 97.7 156.0 EBITDA 2,8 0.8 7,9 50.1 EBITDA -1.4 -1.2 0.3 3.1 Profit before tax 3,1 1.1 9,8 50.4 Profit before tax -3.6 -3.3 -7.7 -4.1 En
Slide 19: Q4 2024 balance sheet
Q4 2024 balance sheet Comments NOKm 2024 2023 NOKm 2024 2023 Assets: unaudited audited • Cash and bank deposit increased by NOK 98.4 million and total unaudited audited receivables increased by NOK 74.8 million from year end. Non-current assets Total intangible assets 85.1 90.3 Equity Equity: Total
Slide 20: Q4 2024 cash flow statement
Q4 2024 cash flow statement Comments Q4 2024 (NOKm) NOKm Q4 2024 Q4 2023 FY 2024 FY 2023 Unaudited Unaudited Unaudited Audited Positive cash flow from operations of NOK 96.5 million Cash flow from operations • Positive result of NOK in period 10.4 Net cash flow from/to operating activities 96.5 -78.
Slide 21: Summary and market outlook
Summary and market outlook A sustainable future at sea www.havgroup.no
Slide 22: Summary
Summary HAV Group achieved its EBITDA in Q4 2024 was a New orders for more than NOK Solid order backlog of NOK projected revenue growth in significant improvement versus 200 million signed in Q4 2024 1,227 million at year-end 2024, 2024 compared to 2023 latest quarters up 103% from one year prior A
Slide 23: Outlook
Outlook • Global megatrends, including regulatory changes as well as increasing pressure on vessel and cargo owners to remain competitive, provide commercial incentives and regulatory requirements for the maritime industry to invest in vessels’ lifecycle performance. HAV Group possesses the technolo
Slide 24: Q&A
Q&A A sustainable future at sea www.havgroup.no