Bonheur Asa · OSL:BONHR
Bonheur Asa — Corporate Update (June 2021)
23 slides from Bonheur Asa's corporate update, June 2021
Slide 1: Company update
Bonheur ASA Company update June 2021
Slide 2: Bonheur introduction
Bonheur introduction Building on 170 years of industrial innovation ▪ Long term active investor with origin from 1848 ▪ Listed on Oslo Stock Exchange since 1921 ▪ Traditionally core activities linked to maritime and energy sectors ▪ Proven history of being early adaptors into new trends ▪ 25 year t
Slide 3: Group overview
Group overview Segment revenues and share of book assets Renewables ▪ Leading developer and owner of renewable energy assets 4.0 3.0 ▪ 805 MW in operations incl. two sites under construction and 4 GW 2.0 38% pipeline 1.0 0.0 ▪ Onshore and offshore wind and floating solar 2011 2014 2017 2020 ▪ Leadin
Slide 4: Recent events
Recent events ▪ Ørsted joins the already established Fred. Olsen Renewables and Hafslund Eco consortium establishing a long-term partnership to develop offshore wind in combination with transmission development in Norway and to compete in Norway's upcoming application round for offshore wind areas ▪
Slide 5: ESG reporting and highlights
ESG reporting and highlights ▪ Strong commitment towards integrating sustainability and social responsibility into Separate business ESG reporting long-term business model supporting decarbonisation and minimising the environmental footprint of our activities ▪ ESG principles in mind when investing
Slide 6: Group capitalization per 1Q 21
Group capitalization per 1Q 21 ▪ Group financial objectives targeted to secure long-term visibility and flexibility through business cycles ▪ Strong parent financial position built on conservative leverage and solid liquidity position ▪ Subsidiaries to continuously work to optimize their long term f
Slide 7: Highlights 1Q 2021
Highlights 1Q 2021 Bonheur ASA Group of companies Figures in paranthesis (1Q20) Renewable Energy Wind Service Cruise Other Investments Consolidated: ▪ Operating revenues were NOK 1 338 million (NOK 1 967 million) ▪ EBITDA was NOK 236 million (NOK 250 million) ▪ EBIT was NOK 9 million (NOK -101 milli
Slide 8: Renewable energy
Renewable energy
Slide 9: Introduction to FORAS
Introduction to FORAS Full set of in-house capabilities developed to the highest standards over 25 years In brief Full integrated in-house business model ▪ One of the largest independent power producers in Northern Europe Site investigation ▪ Early mover in renewables with first wind park investment
Slide 10: Market backdrop
Renewable energy Market backdrop Capacity Factors and Generation Gas and CO2 Pricing last 12 months 60% 50 700 000 45 50% TTF Gas next month €/MWh CO2 EUAs €/Ton 600 000 40 Generation (MWh) 35 Capacity factor (%) 40% 500 000 30 400 000 30% 25 300 000 20 20% 200 000 15 10% 10 100 000 5 0% - 0 4Q18 1Q
Slide 11: Key offshore wind activities
Key offshore wind activities Codling Norway lease round Scotwind lease round ▪ Advanced major bottom fixed offshore wind project ▪ Positioning for upcoming lease round through ▪ Ongoing process which includes up to 15 33/33/33 JV with Hafslund ECO and Orsted areas/10GW in new lease awards ▪ Potentia
Slide 12: Other key Development activities
Other key Development activities New consents in UK (148 MW) Building position in Floating Solar ▪ Paul’s Hill II – 21 MW ▪ Building competitive advantage for coastal locations – partnership with ▪ Crystal Rig IV – 46,2 MW SERIS a cornerstone. Test project at ▪ Brockloch Rig III – 80,8 MW Canaries a
Slide 13: Wind Service
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Slide 14: FOWIC a market leader in a growing market
FOWIC a market leader in a growing market ▪ Serves its customers with full scale, premium and flexible services FOWIC in brief ▪ An Industry leading position 1▪ Established 2008 ▪ Agile, experienced and innovative organization with strong customer 2▪ Operates 3 high end T&I jackups relationships ▪ F
Slide 15: Fleet and project flexibility
Fleet and project flexibility Vessel reallocation to APAC agreements ▪ FOWIC will in June temporarily mobilize a second vessel, Bold Tern, to the APAC region. This will allow Brave Tern to complete the Yunlin project for SGRE in a continuous campaign. ▪ Bold Tern will undergo the planned crane upgra
Slide 16: Global Wind Service
Global Wind Service Leading global project partner for complete wind turbine services ▪ Installation and pre-assembly, high voltage, O&M, Global track record blade inspection and repair ▪ Statutory Inspection & Repair ▪ Repowering & life extension ▪ 1 250 employees per Q1 2021 Revenue development (E
Slide 17: United Wind Logistics – Fleet Status
United Wind Logistics – Fleet Status ▪ One stop logistic solutions services for wind turbines ▪ Analysis of transportation requirements ▪ Sourcing of suitable tonnage ▪ Project coordination and management ▪ Owns three vessels ▪ VestVind 1 working in the Spot Market ▪ BoldWind commenced its 3-year co
Slide 18: Cruise
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Slide 19: Introduction to Cruise
Introduction to Cruise ▪ Fred. Olsen Cruise Lines has a leading position in the UK small-medium ship Long term market growth 5% CAGR pre-Covid 19* segment ▪ Leveraging on high customer service and proprietary itineraries ~60% repeat rate, best in UK market** ▪ An award-winning cruise product Boreali
Slide 20: Cruise: Events in the quarter
Cruise Events in the quarter ▪ Experiencing substantial demand for cruises for second half of 2021 and 2022 ▪ In UK all people of 50+ age (32 mill. People) had been offered vaccine by mid-April ▪ Mobilising one cruise ship for UK cruise in July, others to follow pending other countries opening up fo
Slide 21: Highlights 1Q 2021
Highlights 1Q 2021 Bonheur ASA Group of companies Figures in paranthesis (1Q20) Renewable Energy Wind Service Cruise Other Investments Consolidated: ▪ Operating revenues were NOK 1 338 million (NOK 1 967 million) ▪ EBITDA was NOK 236 million (NOK 250 million) ▪ EBIT was NOK 9 million (NOK -101 milli
Slide 22: Risk factors
Risk factors Investing in bonds issued by Bonheur ASA (the “Issuer”) involves inherent risks as is the case for all bonds in general. The risks and uncertainties described below are risks of which the Issuer is particularly aware and that the Issuer considers to be material to its business. Risk fac
Slide 23: Risk factors
Risk factors Liquidity risk The Issuer is a holding company and may be dependent upon cash being distributed from its subsidiaries to be able to service payments in respect of the Bonds. Deteriorating market conditions in the Group’s main segments, disruption to operations, contractual provisions or