Kongsberg Gruppen Asa · OSL:KOG
Kongsberg Gruppen Asa — Q3 2023 Earnings Presentation
17 slides from Kongsberg Gruppen Asa's earnings presentation, 2023
Slide 1: Protechting people and planet
Investor presentation Q3 2023 Protechting people and planet 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 othe
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 i
Slide 3: The world is changing, so are we
The world is changing, so are we Continue – Exploit - Execute Continue Exploit Execute See Statement of Proprietary information
Slide 4: Highlights
Highlights • Continued growth across all business areas - Business area growth ranging from 21% to 41% • Investing for further growth • NOK 16bn Coastal Defence System order from Poland • Strong exposure towards current major trends - Sustainability, security and digitalization Order intake Revenue
Slide 5: Business update | Kongsberg Maritime
Business update | Kongsberg Maritime • NOK 5.5bn order intake and 1.21 New build order intake (YTD) book/bill Other Fishery & SP Pax Seaborne • Main drivers were Seaborne and LNG- 3% Offshore wind 5% 14% carrier segments 7% 2% • Another strong aftermarket quarter, OPU 10% accelerated by increased re
Slide 6: Business update | Kongsberg Defence & Aerospace
Business update | Kongsberg Defence & Aerospace • NOK 4.64bn order intake and book/bill Major contracts signed 1.28 Several significant orders secured in the quarter, among others: • Increased weapon station deliveries • F-35 components to Lockheed Martin - NOK • CROWS largest program in Q3 1.2 bn •
Slide 7: Business update | Kongsberg Discovery
Business update | Kongsberg Discovery • NOK 1.1 bn order intake and 1.19 book/bill • Largest contributor was Ocean Technologies • Signed several substantial contracts within research segment • Strong opportunities ahead in markets such as energy, fisheries, research, security and surveillance Order
Slide 8: Business update | Kongsberg Digital
Business update | Kongsberg Digital • Continued roll-out of digital twins and onboarding of new users on existing solutions • >30 digital twins in operation • Largest Vessel Insight customer expands agreement 2,300 2,460 21,000 Vessel Insight 2,150 19,000 Kognitwin 15,300 Q1 23 Q2 23 Q3 23 Q1 23 Q2
Slide 9: 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 10: Revenue
Revenue Kongsberg Maritime Kongsberg Defence & Aerospace (NOK bn) +21% +41% 4.99 4.14 3.94 KONGSBERG 2.80 +29% Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 9.98 7.75 Kongsberg Discovery Kongsberg Digital +35% Recurring revenue 0.92 +38% 0.69 0.36 0.26 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 0.1
Slide 11: EBIT and EBIT-margin
EBIT and EBIT-margin Kongsberg Maritime Kongsberg Defence & Aerospace (NOK bn, %) 12.3% 11.8% 16.1% 15.1% 0.62 0.59 0.49 0.45 KONGSBERG EBIT-margin EBIT (NOK bn) 13.4% 12.7% Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 1.27 Kongsberg Discovery Kongsberg Digital 1.04 22.0% (0.08) (0.08
Slide 12: Net working capital
Net working capital Kongsberg Maritime & Kongsberg Discovery 19.0%2 12.4% 4.321 KONGSBERG 2.28 NWC of LTM-revenue (%) NWC (NOK bn) 11.4% Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 6.4% 4.35 Kongsberg Defence & Aerospace 1.95 (0.14) 0.26 1.8% (1.3%) Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 1) N
Slide 13: Cash flow development
Cash flow development 1.7 - 30.9 1.63 (1.84) 2.76 (0.18) (0.23) 2.11 0.74 (0.10) (0.71) 0.03 Cash 01.07 EBITDA Change in Tax and other Investment in Other Change in Other Translation Cash 30.09 working operating PPE & R&D investing interest financing differences capital related items activities bear
Slide 14: 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)* 28.8% 13.6% 29.6% 11.9% 6.9% 24.5% 3.9% 20.7% 21.6% 267 (3.4%) 472 168 167 391 389 422 419 136 85 9 32 7 23 112 95 87 91 139 -3 Q3 2
Slide 15: 2025 Targets
All numbers excluding Kongsberg Digital 2025 Targets From Capital Markets Day 2022: Revenue development Revenue (NOK bn) +14.1% 40.0 36.8 30.8 24.8 26.6 2020 2021 2022 LTM Q3-23 Target 2025 15
Slide 16: Outlook
Outlook Kongsberg Defence Kongsberg Kongsberg Kongsberg & Aerospace Maritime Discovery Digital ▪ Record-high backlog secures ▪ Green shift and increased ▪ Solid demand from areas such ▪ Continued increase in growth in 2023 and beyond regulation will drive as fishery, marine research recurring revenu
Slide 17: KONGSBERG Protechting people and planet
KONGSBERG Protechting people and planet From deep sea to outer space See Statement of Proprietary information