Bouvet Asa · OSL:BOUV
Bouvet Asa — Q3 2015 Earnings Presentation
23 slides from Bouvet Asa's earnings presentation, Nov 5, 2015
Slide 1: Interim presentation Third quarter 2015
Interim presentation Third quarter 2015 Sverre Hurum. CEO Erik Stubø. CFO 5 November 2015
Slide 2: 5 November 2015 Interim presentation 3rd quarter 2015
2 5 November 2015 Interim presentation 3rd quarter 2015
Slide 3: Highlights in the quarter
Highlights in the quarter • Revenues and EBIT Revenues and number of employees MNOK and number – Operating revenues increased by 350 6.0 percent to NOK 256.8 million (y- 300 o-y) 250 – EBIT decreased by 27.8 percent to 200 NOK 6.6 million (y-o-y) 150 100 • 1032 employees 50 – An increase of 14 in th
Slide 4: Operational Review
Operational Review
Slide 5: Efficient app saves millions of NOK
Efficient app saves millions of NOK • Efficient time registration app for public employees • 40 000 employees will save one minute per day • Saves NOK 50–100 million by reduction in FTEs • Developed by Bouvet Stavanger Aftenblad 24.9.2015 Dagens Næringsliv 24.9.2015 5 5 November 2015 Interim present
Slide 6: New user interface improves usability
New user interface improves usability • An interactive and innovative bridge system for VARD´s concept ship • The user interface is designed to improve usability • Developed by Montaag, an international design agency, in collaboration with Bouvet´s expertise on web technology 6 5 November 2015 Inter
Slide 7: Long-term relationship gives results
Long-term relationship gives results • Efficient relationship since 2010 • Bouvet has signed frame agreement for four new years • Bouvet is a turnkey provider and is delivering services from all areas of expertise 7 5 November 2015 Interim presentation 3rd quarter 2015
Slide 8: Increased dissemination of information
Increased dissemination of information • Bouvet is supporting the municipality of Upplands Väsby in developing Digital Annual Report. – Aim to increase transparency and participation between the municipality and the citizens – Available on all devices including mobile www.upplandsvasby.se 8 5 Novemb
Slide 9: Business sectors Q3 2015
Business sectors Q3 2015 Other Power supply 8,6 % Health 10,9 % Retail 4,1 % Industry 6,8 % 5,2 % Transportation 9,3 % 21,9 % Public admin Service industry 5,8 % 27,3 % Oil & gas 9 5 November 2015 Interim presentation 3rd quarter 2015
Slide 10: Sectors with high increase in revenue
Sectors with high increase in revenue • Health – Increased by 41.5 percent (y-o-y) – Represents 4.1 percent of total revenue in Q3’15 • Transportation – Increased by 13.5 percent (y-o-y) – Represents 9.3 percent of total revenue in Q3’15 10 5 November 2015 Interim presentation 3rd quarter 2015
Slide 11: Customer and project mix
Customer and project mix • Project mix Variably priced contracts share of revenues Percentage – Variable contracts account for 95.8 100% percent of total revenues 90% 80% • Client portfolio 70% – The 10 largest customers represent 60% 40.4 percent of total revenues – 50% down from 42.0 percent in Q3
Slide 12: Client development
Client development • Existing clients* Revenues customer split MNOK – Accounted for 91.5 percent of Existing customers* New customers (LTM)** revenues in Q3’15 300 • New customers** 250 – Customer won over the past year generated revenues of NOK 21.7 200 million in Q3’15 150 100 50 * Existing custom
Slide 13: Regional organisation
Regional organisation 88 62 16 Trondheim 407 Bergen Sandvika Ørebro Stockholm Haugesund Oslo 331 Sandefjord Stavanger Skien Group Kristiansand Arendal 55 management and staff: 17 Malmø 56 13 5 November 2015 Interim presentation 3rd quarter 2015
Slide 14: Enthusiastic and competent employees
Enthusiastic and competent employees • 1 032 employees at the end of the Number of employees end of quarter third quarter 1200 – 14 new employees in Q3’15 1000 – 70 more employees in the past 12 800 months 600 400 – Average number of employees in 200 the quarter up 7.0 percent from 0 Q3'10 Q3'11 Q3'
Slide 15: Financial Review
Financial Review
Slide 16: Key figures
Key figures Three months ending Twelve months ending MNOK 30.09.2015 30.09.2014 Change 30.09.2015 30.09.2014 Change Operating revenue 256.8 242.3 6.0 % 1 212.7 1 117.7 8.5 % Operating profit (EBIT) 6.6 9.2 -27.8 % 92.6 87.1 6.3 % EBIT margin 2.6 % 3.8 % 7.6 % 7.8 % Ordinary profit before tax 7.0 9.4
Slide 17: Top line growth
Top line growth • Revenues increased by 6.0 percent Revenue split (quarterly figures) MNOK y-o-y 350 Own consultants – Revenues from own consultants 300 Sub-contracted consultants 250 Other increased by 5.5 percent to NOK 200 222.0 million 150 100 – Revenues from sub-contracted 50 0 consultants incr
Slide 18: Revenue from own consultants
Revenue from own consultants • Increased by 5.5 percent y-o-y Revenue per employee (quarterly figures) TNOK • Positive impact from 7.0 percent 300 250 increase in employees. 200 • Positive impact from 0.9 percent 150 100 increase in prices for group hourly 50 services 0 Q3'10 Q3'11 Q3'12 Q3'13 Q3'14
Slide 19: Earnings
Earnings • Operating profit decreased y-o-y in EBIT and EBIT margin MNOK and Percent Q3’15 40 EBIT EBIT margin 15% – EBIT margin of 2.6 percent 30 compared to 3.8 percent in Q3’14 10% 20 • Operating expenses increased by 10 5% 7.3 percent compared to Q3’14 0 0% Q3'10 Q3'11 Q3'12 Q3'13 Q3'14 Q3'15 •
Slide 20: Cash flow
Cash flow • Cash flow from operations Cash flow from operations (per quarter) MNOK – Negative NOK 0.8 million in Q3’15, 120 100 up from NOK negative 14.0 million 80 in Q3’14 60 40 • Rolling 12 months 20 0 -20 – Operational cash flow over the last -40 12 months was NOK 89.7 million Q3'10 Q3'11 Q3'12
Slide 21: Outlook
Outlook
Slide 22: Outlook
Outlook • Tough competition continues • Potential for further growth in many industries • Digitalisation continues in a high pace 22 5 November 2015 Interim presentation 3rd quarter 2015
Slide 23: Shareholders as of 04.11.2015
Shareholders as of 04.11.2015 Investor Number of shares % of total STENSHAGEN INVEST AS 1 108 402 10,81 VARNER KAPITAL AS 1 070 000 10,44 MP PENSJON PK 669 904 6,54 HURUM SVERRE FINN 506 584 4,94 SIX SIS AG 400 000 3,90 PROTECTOR FORSIKRING ASA 400 000 3,90 VEVLEN GÅRD AS 400 000 3,90 VERDIPAPIRFOND