Slide 1: Q2 2018 Presentation
Q2 2018 Presentation July 20, 2018
Slide 2: Our Focus and Offerings
Our Focus and Offerings We develop, sell and deliver innovative technical solutions to create superior value by improving performance and reducing risk. Focus on products and services within: • Fuel and materials testing • Fuel and reactor management software • Life cycle management of nuclear and r
Slide 3: Global Nuclear Power Market
Global Nuclear Power Market • Western Europe, the USA and Japan: cost pressure from alternative sources of energy • Life extension programs instead of new build • Decommissioning of older plants • Delayed new build of nuclear plants in Finland, UK and France • Germany: phasing out • Russia: signific
Slide 4: Group offerings matching growth opportunities
Group offerings matching growth opportunities Opportunities for Studsvik Studsvik Group Offerings • Supporting Russian, Chinese and South Korean • Nuclear Technology Transfer providing an export of nuclear technology: integrated offering supporting: • Provide expertise in qualification of • Fuel dev
Slide 5: Broaden our services to other industries
Broaden our services to other industries • Using Studsvik extensive experience in the nuclear sector to develop profitable applications outside the nuclear power market • Automated manufacturing and handling of nuclear isotopes used in medical instruments and industrial applications • Waste manageme
Slide 6: Financial performance
Financial performance April-June April-June January-June January-June Full year 2018 2017 2018 2017 2017 Sales, SEK million 174.0 176.6 371.4 356.2 704.8 Gross margin,% 26.7 15.7 29.8 22.2 23.5 Operating Profit, SEK million 2.0 -19.4 24.2 -21.4 -41.6 Operating margin, % 1.2 -11.0 6.5 -6.0 -5.9 Profi
Slide 7: Analysis of key ratio development Q2
Analysis of key ratio development Q2 • Sales SEK 174.0 (176.6) million • Gross margin 2 (-10) per cent • Operating result SEK 2.0 (-19.4) million • Restructuring costs SEK 1.4 (1.9) million • Free cash flow SEK 4.0 (-38.9) million • Improved operating results in all business areas • Reduced head off
Slide 8: Key Offerings – Consultancy Services
K E Y O F F E R I N G S – C O N S U LTA N C Y S E R V I C E S We m a n a g e R a d i o a c t i v e H a z a r d s t o ke e p o u r c u s t o m e r s S a f e Repository Engineering Radioactive Waste Optimization – Wa ste M gmt P ro ce sse s Management - S afet y A n a l ysi s, L i ce n si n g a n d P
Slide 9: Financial performance – Consultancy Services
Financial performance – Consultancy Services April-June April-June January-June January-June Full year 2018 2017 2018 2017 2017 Sales, SEK million 19.4 28.0 40.6 61.7 123.0 Operating Profit, SEK million 1.1 -1.3 1.1 0.3 11.3 Operating Profit margin, % 5.7 -4.6 2.7 0.5 9.2 Investments, SEK million 1.
Slide 10: Operational highlights – Consultancy Services
Operational highlights – Consultancy Services • Sales SEK 19.4 (28.0) million • Operating profit SEK 1.1 (-1.3) million • Restructuring costs SEK 1.4 (0) million • Comparable operating profit 2.5 (-1.3) • USA and Sweden picking up driven by services related to waste treatment technologies • Drop in
Slide 11: Key Offerings – Fuel & Materials Technology
K E Y O F F E R I N G S – F U E L & M AT E R I A L S T EC H N O LO GY Fu e l & M a te r i a l s L i fe C y c l e Fuel Qualification Plant Life Hot Cell Management Technologies Final & Interim Transport of Engineering Storage Research Irradiated Materials 2018-07-20 Interim Report Second Quarter 2018
Slide 12: Financial performance – Fuel- & Materials Technology
Financial performance – Fuel- & Materials Technology April-June April-June January-June January-June Full year 2018 2017 2018 2017 2017 Sales, SEK million 53.2 52.2 119.9 104.7 195.0 Operating Profit, SEK million 7.4 4.9 17.7 10.7 5.3 Operating Profit margin, % 13.9 9.4 14.8 10.2 2.7 Investments, SE
Slide 13: Operational highlights – Fuel & Materials Technology
Operational highlights – Fuel & Materials Technology • Sales SEK 53.2 (52.2) million • Operating profit SEK 7.4 (4.9) million • YTD operating profit SEK 17.7 (10.7) million • Catch-up of delay from Q4 2017 continued to drive underlying performance • Cost for changeover and overtime higher than norma
Slide 14: Key Offerings - Scandpower Nuclear Analysis Software & Services
KEY OFFERINGS - SCANDPOWER Nuclear Analysis Software & Services Fuel Design, Core Design, Core Used Fuel Analysis & Monitoring & Plant Performance Management (Interim and Optimization Permanent Storage) New and Advanced Operator Training Consulting, Reactor Design & Simulation Engineering Services L
Slide 15: Financial Performance – Scandpower
Financial Performance – Scandpower April-June April-June January-June January-June 2018 2017 2018 2017 Full year 2017 Sales, SEK million 23.8 17.1 66.6 36.8 81.0 Operating Profit, SEK million -1.0 -3.5 19.7 -7.1 -11.8 Operating Profit margin, % -4.2 -20.5 29.6 -19.3 -14.6 Investments, SEK million 0.
Slide 16: Operational highlights – Scandpower
Operational highlights – Scandpower • Sales SEK 23.8 (17.1) million • Operating profit SEK -1.0 (-3.5) million • YTD operating profit SEK 19.7 (-7.1) million • Solid performance in software sales, maintenance, services and training • 30 MSEK of TVEL order delivered, main part of remaining SEK 8 mill
Slide 17: Key Offerings - Germany Decommissioning and Radiation Safety
KEY OFFERINGS - GERMANY D e c o m m i s s i o n i n g a n d R a d i a t i o n S a fe t y Nuclear Decommissioning Radiation Safety & - Ra d i o l o gi ca l i nve nto ry, Protection ch a ra cte ri zati o n & cl e a ra n ce 2018-07-20 Interim Report Second Quarter 2018 17
Slide 18: Financial Performance - Germany
Financial Performance - Germany April-June April-June January-June January-June 2018 2017 2018 2017 Full year 2017 Sales, SEK million 77.4 74.4 141.3 144.7 291.1 Operating Profit, SEK million -0.3 -10.3 -5.1 -10.3 -8.4 Operating Profit margin, % -0.4 -13.8 -3.6 -7.1 -2.9 Investments, SEK million -0.
Slide 19: Operational highlights - Germany
Operational highlights - Germany • Sales SEK 77.4 (74.4) million • Operating profit SEK -0.3 (-10.3) million • Restructuring costs SEK 0 (1.1) million • YTD operating profit SEK -5.1 (-10.3) million • Good results from focus on increasing Q2 utilization ratio while reducing cost • Swiss market picki
Slide 20: Appendix
Appendix 2018-07-20 Interim Report Second Quarter 2018 20
Slide 21: Balance sheet
Balance sheet June 2018 June 2017 December 2017 Assets Non-current assets 479.1 443.0 456.6 Current assets 403.1 418.8 368.3 Total assets 882.2 861.8 824.9 Equity and liabilities Equity 320.1 308.1 288.1 Non-controlling interest 0.4 0.3 0.3 Non-current liabilities 362.4 357.5 364.7 Current liabiliti
Slide 22: Interim Report Second Quarter 2018
2018-07-20 Interim Report Second Quarter 2018 22