Kongsberg Gruppen Asa · OSL:KOG
Kongsberg Gruppen Asa — Q2 2023 Earnings Presentation
15 slides from Kongsberg Gruppen Asa's earnings presentation, Jul 12, 2023
Slide 1: Investor presentation Q2 2023
Investor presentation Q2 2023 12/07/2023 Geir Håøy, President & CEO Mette Toft Bjørgen, EVP & Group CFO KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly ag
Slide 2: Disclaimer
DISCLAIMER This presentation contains certain forward-looking information and statements. Such forward-looking information and statements are based on the current, estimates and projections of the Company or assumptions based on information currently available to the Company. Such forward-looking in
Slide 3: Highlights
Highlights ▪ Growth, solid results and good order intake - NOK 68.1 billion backlog will support continued growth ▪ Strong exposure towards current major trends - Sustainability - Security - Digitalization ▪ Raised MUSD 90 from two new investors in Kongsberg Digital Order intake Revenue EBIT NOK NOK
Slide 4: Business update Kongsberg Maritime
Business update Kongsberg Maritime New build order intake (YTD) Other Fishery & SP ▪ NOK 5.1bn order intake and 1.02 Pax Seaborne book/bill 3% Offshore wind 6% 14% 5% 1% ▪ Particularly strong order intake from OPU LNG and Seaborne&Pax segments 9% ▪ Continued strong pace in the 26% LNG Order backlog
Slide 5: Business update Kongsberg Defence & Aerospace
Business update Kongsberg Defence & Aerospace Investing in future growth ▪ NOK 4.4bn order intake and book/bill ▪ Two major investments in new facilities 1.28 ongoing: ▪ Growth driven by solid missiles- and ▪ New missile production facility will NASAMS-progress be in operation mid-summer 2024, BNOK
Slide 6: Business update Kongsberg Discovery
Business update Kongsberg Discovery ▪ NOK 0.8 bn order intake and 0.89 book/bill - Increased Hugin deliveries based on strong 2022 order intake - Strong opportunities ahead in markets such as energy, fisheries, research, security and surveillance Order intake (NOK bn) Order backlog (NOK bn) Order ba
Slide 7: Business update Kongsberg Digital
Business update Kongsberg Digital ▪ MUSD 90 investment by Shell Ventures and Idékapital ▪ Acquired majority share in FutureOn ▪ Continued roll-out of digital twins and onboarding of new users on existing solutions 2,274 19,000 Vessel Insight 2,150 Kognitwin 15,300 Q1 23 Q2 23 Q1 23 Q2 23 # of sold v
Slide 8: Financial status
Financial status Mette Toft Bjørgen, EVP & Group CFO KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised repr
Slide 9: Revenue
Revenue (NOK bn) Kongsberg Maritime Kongsberg Defence & Aerospace +24% +29% 4.98 4.01 3.47 2.69 KONGSBERG +27% Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 9.60 7.57 Kongsberg Discovery Kongsberg Digital Recurring revenue +25% 0.93 +55% 0.75 0.34 0.22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 0.1
Slide 10: EBIT and EBIT-margin
EBIT and EBIT-margin (NOK bn, %) Kongsberg Maritime Kongsberg Defence & Aerospace 7.9% 15.8% 5.3% 14.8% KONGSBERG 0.51 0.39 0.42 0.21 EBIT-margin EBIT (NOK bn) 10.8% Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 9.0% 1.04 Kongsberg Discovery Kongsberg Digital 0.68 (0.08) (0.11) 16.5% 1
Slide 11: Net working capital
Net working capital Kongsberg Maritime & Kongsberg Discovery 16.9%2 11.8% 3.661 2.08 KONGSBERG NWC of LTM-revenue (%) NWC (NOK bn) 2.51 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 0.88 7.0% Kongsberg Defence & Aerospace 3.1% (10.2%) (5.3%) (1.06) (0.72) Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23
Slide 12: Cash flow development
Cash flow development 1.4 - 30.6 (0.61) 1.00 1.38 (0.94) 0.94 (0.10) (2.13) 3.64 (0.51) 2.76 0.08 Cash 01.04 EBITDA Change in Tax and Capital Other Bond issue Dividend Other Translation Cash 30.06 working other raise KDI investing paid financing differences capital operating activities activities ca
Slide 13: Associated companies
Associated companies KSAT Patria EBIT % Revenue (NOKm) EBIT (NOKm) KOG’s share of net profit (NOKm) EBIT % Revenue (EURm) EBIT (EURm) KOG’s share of net profit (NOKm)* 11.9% 28.8% 9.1% 6.9% 24.9% 24.5% 3.9% 20.7% 21.6% 267 (3.4%) 145 136 168 391 389 422 419 85 352 13 9 32 7 88 112 95 87 91 -3 Q2 22
Slide 14: Outlook
Outlook Kongsberg Defence Kongsberg Kongsberg Kongsberg & Aerospace Maritime Digital Discovery ▪ Record-high backlog secures ▪ Green shift and increased ▪ Continued increase in ▪ Strong positions and solid growth in 2023 and beyond regulation will drive recurring revenues demand from areas such as ▪
Slide 15: KONGSBERG – Protecting people and planet
KONGSBERG – Protechting people and planet From deep sea to outer space WORLD CLASS – Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information 15