Integrated Wind Solutions Asa · DUS:9UG1
Integrated Wind Solutions Asa — Investor Presentation (February 2024)
24 slides from Integrated Wind Solutions Asa's investor presentation, February 2024
Slide 1: Investor Presentation
Investor Presentation February 2024
Slide 2: IWS | A fully integrated offshore wind solutions provider
IWS | A fully integrated offshore wind solutions provider 1) Clarksons 2 2) 30%* ownership. Fixed price option exercisable by September 2024 to acquire an additional 19%* of shares (*pre-dilution from share-based option program to key employees)
Slide 3: IWS | A fully integrated offshore wind solutions provider
IWS | A fully integrated offshore wind solutions provider Integrated Services Operations & Asset Management 100% 97%1) 30% → 49%2) 1) 97% of share capital; 100% of votes. IWS Services owns 75% of ProCon and 100% of Green Ducklings, 2) Fixed price option 3 exercisable within September 2024 to acquire
Slide 4: Global offshore wind ambitions | ~800 GW (excl. China)
Global offshore wind ambitions | ~800 GW (excl. China) *Offshore wind not specifically mentioned, but implicit in ambitions **Calculated as EU target of 300 GW by 2050, UK Climate Change Committee estimates of up to 125 GW by 2050, and Norway aim to allocate 30 GW by 2040 4 *** China targets are not
Slide 5: IWS Fleet | Low newbuilding prices → high cash flow yields
IWS Fleet | Low newbuilding prices → high cash flow yields Newbuilding yard prices1 (EUR million) ► Attractive free equity cash flow yields2 IWS’s favoura l cap x improves free cash flow yield in a rising market. IWS l t’s six CSOVs ordered at an attractive average fixed yard price of EUR 48m per ve
Slide 6: IWS Fleet | Strong revenue backlog to tier 1 clients
IWS Fleet | Strong revenue backlog1 to tier 1 clients ir c art r days ir r v u v u split y cli t 1) Project startup based on management estimates. Revenues include mobilisation and demobilisation fees, gross victualling income 6 of EUR 5,000 per day, and zero inflation adjustments.
Slide 7: IWS Skywalker class | Overview
IWS Skywalker class | Overview o structio ov rvi otal c art r days p Si i St l cut au c i S a trial liv ry ptio IWS S y al r ir IWS Wi d al r IWS S a al r IWS Star al r IWS oo al r IWS Su al r 7 1) Total vessel days available. Firm days assume management estimates on the start-up of charter contract
Slide 8: “Skywalker Class” | Premium CSOVs designed for superior performance and efficiency
“Skywalker Class” | Premium CSOVs designed for superior performance and efficiency Premium tonnage with several benefits Design highlights Low-carbon footprint of vessels No conversion risk with ‘fit-for-purpose’ A Adjustable motion compensated gangway Energy- design saving ✓ Equipped with photovolt
Slide 9: The Skywalker class CSOV’s
The Skywalker class CSOV’s 9
Slide 10: IWS Skywalker class | Vessel overview
IWS Skywalker class | Vessel overview 1 2 3 IWS Skywalker IWS Windwalker IWS Seawalker Final mobilisation In late commissioning Under construction 4 5 6 IWS Starwalker IWS Moonwalker IWS Sunwalker Under construction First steel-cut in Dec’23 First steel-cut in Dec’23 10 Source: IWS Fleet
Slide 11: IWS Skywalker Hanstholm Harbour, February 2024
IWS Skywalker Hanstholm Harbour, February 2024 11
Slide 12: IWS Skywalker Hanstholm Harbour, February 2024
IWS Skywalker Hanstholm Harbour, February 2024
Slide 13: IWS Skywalker | Galley and Lounge at the Viking Panorama Deck
IWS Skywalker | Galley and Lounge at the Viking Panorama Deck 13 Photos from IWS Skywalker, November 2023
Slide 14: IWS Skywalker | Dining facilities
IWS Skywalker | Dining facilities 14 Photos from IWS Skywalker, November 2023
Slide 15: IWS Skywalker | Recreational facilities
IWS Skywalker | Recreational facilities 15 Photos from IWS Skywalker, November 2023
Slide 16: IWS Services | Building a “one-stop shop” by integrating several service offerings
IWS Services | Building a “one-stop shop” by integrating several service offerings 1 2 3 The portfolio IWS Fleet & IWS IWS Services as companies as stand- Services as a full bundled services alone services service offering Service Co 3 Service Co 3 Service Co 4 Service Co 4 Service Co … Service Co …
Slide 17: IWS Services | Wide scope of services available to IWS and addressable by using CSOV
IWS Services | Wide scope of services available to IWS and addressable by using CSOV Target segments WTG Services OSS Services Scheduled and periodic IMR Scheduled and periodic IMR Blade inspections Topside Structures Transformers Bolt tensioning Electrical Systems Utility Systems Hydraulic systems
Slide 18: PEAK Wind | Renewable energy specialist delivering advisory, intelligence and asset management services
PEAK Wind | Renewable energy specialist delivering advisory, intelligence and asset management services At a glance Main business areas 1) 2) 30 countries PW delivers offshore 10 offices wind advisory to 20+ GW offshore & onshore wind, 8 countries PV assets using PW advisory 1.9+ GW offshore wind un
Slide 19: Outlook
Outlook The outlook for the offshore wind industry remains positive with increased activity versus 2023 The IWS group of companies is well positioned to take part in this growth within its relevant segments providing CSOVs (IWS Fleet), electrical works and above-waterline services (ProCon), offshore
Slide 20: Appendix
Appendix 20
Slide 21: Key financials | Q4 2023
Key financials | Q4 2023 Income statement (EUR '000) Q3 2023 Q4 2023 Q4 2022 Operating revenue 5,421 6,263 5,075 ; ; PEAK Wind share of net profit of EUR 0.3m less EUR Share of net profit of associates 109 196 48 0 1m amortisation of acqn-related intangible assets. Total revenue 5,530 6,459 5,123 Op
Slide 22: Key financials | Q4 2023
Key financials | Q4 2023 Balance sheet (EUR Q3 2023 Q4 2023 Q3 2023 Q4 2023 Vessels under construction 65,126 95,672 Share capital 7,703 7,703 Other fixed assets 1,800 1,692 Share premium reserve 126,809 126,809 Intangible assets 6,192 6,158 Retained earnings -15,283 -14,551 Investments, equity meth
Slide 23: IWS Fleet | Capex & financing
IWS Fleet | Capex & financing 1) Debt facility signed for IWS Skywalker, IWS Windwalker, IWS Seawalker and IWS Starwalker for up to EUR 118.65m. 23 2) The bank financing for IWS Moonwalker and IWS Sunwalker is expected to be secured in 2024.
Slide 24: iws@integratedwind.com integratedwind.com
iws@integratedwind.com integratedwind.com
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