Slide 1: 4th quarter 2022
21 February 2023 4th quarter 2022 CEO Henning Olsen CFO Ole Gulsvik
Slide 2: Key figures Q4 22: Strong growth – reduced margins
KEY FIGURES Q4 22 Strong growth – reduced margins REVENUE EBITA* EBITA* margin NOK 2.0 billion NOK 31 million 1.6% Q4 2021: NOK 1.6 billion Q4 2021: NOK 50 million Q4 2021: 3.1% ORDER INTAKE OPERATING CASH FLOW ORDER BACKLOG NOK 1.3 billion NOK 160 million NOK 7.8 billion Q4 2021: NOK 1.9 billion Q4
Slide 3: Health and safety: Fewer injuries resulting in absence
HEALTH AND SAFETY Fewer injuries resulting in absence LTI1 TRI2 6.0 17.1 2021: 6.4 2021: 18.5 SICKNESS ABSENCE SERIOUS INJURIES 4.2% 2 2021: 3.9% 2021: 0 1) LTI: Injuries resulting in absence at least one full day per million man-hours (incl. subcontractors). Previously reported as LTI-1. 2) TRI: Fr
Slide 4: Key figures 2022 and Outlook 2023
Summary and Outlook Key figures 2022 Total revenue EBITA* & EBITA* Margin NOK million NOK million and percent 200 2,3 % 2,5 % 7 030 180 2022 2,1 % 6 449 160 2,0 % 6 193 140 • Strong growth in revenue 5 957 120 1,5 % • Slight decrease in EBITA* margin 100 0,9 % • Order book same level as 2021 80 60 0
Slide 5: Improved operational profits in 2022 despite lower Q4
PROFIT & LOSS Improved operational profits in 2022 despite lower Q4 EBITA* (Amounts in NOK million) Q4 2022 Q4 2021 FY 2022 FY 2021 NOK million Revenue 1 954 1 601 7 030 5 957 102 Operating expenses -1 874 -1 504 -6 695 -5 621 94 Other income and expenses (M&A expenses) -1 -22 -2 -34 EBITDA 80 75 33
Slide 6: Strong growth and improved operational profits in 2022
KEY FINANCIAL FIGURES LAST TWELVE MONTHS (LTM) Strong growth and improved operational profits in 2022 Revenue LTM EBITA* LTM EBITA* Margin LTM NOK million NOK million Percent 2,8 % 7 030 2,7 % 177 170 2,5 % 161 2,3 % 6 677 151 139 2,1 % 6 449 6 387 6 324 6 191 1,3 % 6 004 79 5 934 5 957 1,1 % 65 0,8
Slide 7: Solid financial position - equity ratio at 45%
BALANCE SHEET Solid financial position - equity ratio at 45% (Amounts in NOK million) 31.12.2022 31.12.2021 Net Interest-bearing debt NOK million NOK +59 million ASSETS Intangible assets 2 493 2 867 Right-of-use assets 564 514 Total other non-current assets 207 193 1 178 1 157 1 107 Cash and cash eq
Slide 8: Improved cash position
CASH FLOW Improved cash position Cash flow from operations NWC – Average of last four quarters Change in cash in Q4 22 NOK million NOK million NOK million Operating CF NOK 160 million 126 238 105 102 160 149 110 84 96 72 69 17 1) 34 31 -45 23 15 -90 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4
Slide 9: Financial flexibility remains good – unchanged leverage ratio
FINANCIAL POSITION Financial flexibility remains good – unchanged leverage ratio Net interest-bearing debt (NIBD) Bank and bond maturities1 NIBD / EBITDA* LTM ratio NOK million NOK million Percent Target < 2.5x 4,4 4,3 4,3 3,5 2,8 2,8 2,8 2,7 2,4 600 144 77 77 H1 2023 H2 2023 H1 2024 H2 2024 Q4 20 Q
Slide 10: Solid long-term backlog
BACKLOG Solid long-term backlog Order intake & Book-to-bill LTM Order backlog (total) Order backlog comparison (short-term) 0% -9% NOK million NOK million NOK million 1,3 1,4 1,3 1,3 2 682 2 670 1,2 8 610 1,1 8 348 1,2 7 647 7 801 7 795 1,0 7 331 2 165 2 161 0,9 1,0 6 475 6 693 1 872 0,8 5 961 0,8 0
Slide 11: Operational review
FINANCIAL POSITION Operational review
Slide 12: Higher activity and improved performance (NRC Group Norway)
OPERATIONAL REVIEW NRC GROUP NORWAY NO Higher activity and improved performance EBITA* LTM Order backlog (total) NOK million NOK million 2 214 80 2 013 70 63 47 935 708 26 1 305 1 279 Coming years -14 -17 2023 -42 -38 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q4 2022 Q4 2021 Key Figures
Slide 13: Solid tender pipeline with high number of large projects
Solid tender pipeline with high number of large projects NOK 10.2 billion tender pipeline1 Notes BNOK value, # of tenders, next 9 months Increase by NOK 3.2 billion in tender pipeline compared to Q3 22 mainly driven by Rail construction, but also by Rail construction Civil and Environment #6 #7 #6 5
Slide 14: Reduced operational profits (NRC Group Sweden)
OPERATIONAL REVIEW NRC GROUP SWEDEN SWE Reduced operational profits EBITA* LTM Order backlog (total) NOK million NOK million 3 160 2 008 1 971 -40 -39 683 -49 -55 -69 -69 -68 Coming years 1 189 1 325 -77 -76 2023 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q4 2022 Q4 2021 Key Figures Notes
Slide 15: Strategic review of Civil construction initiated
CLOSE-UP ON SWEDEN SWE Strategic review of Civil construction initiated Revenue per division LTM Order backlog Notes NOK million NOK million • Strategic review of Civil construction • Profitable operations and solid long-term 2 229 backlog in Maintenance • Renewed three contracts for 5+2 years 510 •
Slide 16: High tender activity expected to continue
High tender activity expected to continue NOK 10.3 billion tender pipeline1 Notes BNOK value, # of tenders, next 9 months Reduction of NOK 2.4 billion in tender pipeline vs Q3 22 explained by both Rail construction and Maintenance Rail and Civil construction Increase of NOK 1.7 billion compared to #
Slide 17: Solid performance (NRC Group Finland)
OPERATIONAL REVIEW NRC GROUP FINLAND FIN Solid performance EBITA* LTM Order backlog (total) NOK million NOK million 3 579 213 216 213 202 190 180 167 2 622 162 155 2 082 1 376 Coming years 1 246 1 497 2023 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q4 2022 Q4 2021 Key Figures Notes (NOK m
Slide 18: Growth in tender pipeline
Growth in tender pipeline NOK 5.8 billion tender pipeline1 Notes BNOK value, # of tenders, next 9 months Increase by NOK 4.1 billion in the tender pipeline from Q3 22 and an increase of 4.2 billion compared to Q4 21. Rail and Civil construction Increase in Rail construction, #5 #8 #11 4.5 Maintenanc
Slide 19: 2022 and Q4 in brief
SUMMARY 2022 and Q4 in brief Financials • Strong growth continues with revenue increase of 18% in 2022 • EBITA* of NOK 151 million improved by 8% compared to 2021 • Quarterly result down from same period last year • Order backlog remains high • Divestment of Gravco in Q1 2023 Operations • Good profi
Slide 20: Q1 2023 results 24 May
MI Q1 2023 results 24 May SN ee le
Slide 21: Disclaimer
DISCLAIMER This draft presentation (hereinafter referred to as the “Presentation”) has been prepared exclusively for information purposes and does not constitute an offer to sell or the solicitation of an offer to buy any financial instruments. This Presentation includes and is based on, among other