Hav Group Asa · OSL:HAV
Hav Group Asa — Q3 2022 Earnings Presentation
26 slides from Hav Group Asa's earnings presentation, 2022
Slide 1: HAV Group ASA Third quarter 2022
PRESENTERS: HAV GROUP ASA Gunnar Larsen CEO Third quarter 2022 Pål Aurvåg CFO
Slide 2: Agenda
AGENDA 1. Q3 highlights 2. HAV Group ASA in brief 3. Subsidiaries and market opportunity 4. Financials 5. Market outlook 6. Q&A
Slide 3: Q3 Highlights
/[1AV group A Susta inable Future at Sea ~, Q3 HIGHLIGHTS
Slide 4: Q3 Highlights
Q3 HIGHLIGHTS Key developments Q3 22 • Approval documentation for the deck-based containerized hydrogen (H2) energy system for ships is submitted to DNV for approval in principle REVENUES EXTERNAL BACKLOG • HAV Group terminated intent to acquire Høglund Marine Solutions. NOK 137 MILLION NOK 481 MILL
Slide 5: HAV Group ASA in brief
/[1AV group A Susta inable Future at Sea - HAV GROUP ASA IN BRIEF
Slide 6: HAV Group ASA
A Sustainable Future at Sea HAV GROUP ASA International provider of Comprises four subsidiaries with sustainable marine and maritime several decades of combined technologies and services industry experience Vision: Special expertise in guiding the A Sustainable Future at Sea marine and maritime indu
Slide 7: HAV Group Value Creation
HAV GROUP VALUE CREATION STRATEGIC DEVELOPMENT Actively taking part in the companies’ strategic development BUSINESS DEVELOPMENT / R&D PROCESSES Stimulating intercompany business development and R&D processes VALUE SYNERGIES CREATION Extracting synergies through economies of scale, standardization o
Slide 8: Experienced Management Team
EXPERIENCED MANAGEMENT TEAM Executive management Gunnar Larsen Pål Aurvåg Frank-Levi Kvalsund Marius Koksvik CEO, HAV Group CFO, HAV Group Senior VP HR/QHSE, HAV Group VP Business Development, HAV Group 34 years of industry experience 16 years of industry experience 22 years of industry experience 8
Slide 9: Board of Directors
BOARD OF DIRECTORS VEGARD SÆVIK Chairman TORE HOPEN HEGE SÆVIK RABBEN VIBEKE FÆNGSRUD HELGE A. SIMONNES KJETIL YOO RIPE ANITA FJØRTOFT
Slide 10: Subsidiaries & Market Opportunity
SUBSIDIARIES & MARKET OPPORTUNITY
Slide 11: Simulation Based Ship Design
SIMULATION BASED SHIP DESIGN • Through a digital tool-kit, knowledge and innovation HAV Design offers environmentally friendly, safe and functional designs • Sold designs for more than 120 vessels globally • Designed 18 zero emission vessel designs and 11 vessel designs for renewable energy • Leadin
Slide 12: Positioned for further growth
15 Positioned for further growth 10 HAV Design has developed its unique design philosophy 5 and design process through years of experience, R&D investments and collaboration with leading ship owners. 0 • proprietary methods for configuration, simulation and 2007 2008 2009 2010 2011 2012 2013 2014 20
Slide 13: Your Expert in BWTS
YOUR EXPERT IN BWTS • Norwegian Greentech (NGT) was established in 2010 and designs, delivers, installs and services highly energy-efficient compact ballast water treatment systems (BWTS) • The in-house developed BWTS is particularly suited for retrofits due to its small size, flexible installation
Slide 14: Water cleaning technology to be applied over a range of industries
Water cleaning technology to be applied over a range of industries HIGH DEMAND FOR LAND-BASED SALMON LAND-BASED FISH FARMING EXPECTED TO GROW 10X BY 2025 • NGT has supplied water treatment solutions for live fish 100 000 carriers for more than 15 aquaculture projects 90 000 • Land-based salmon is se
Slide 15: Green Innovation for the Oceans
+ 100 + 100 MWh 3 Key drivers Zero & low of installed Safety emission projects batteries Efficiency GREEN INNOVATION FOR THE OCEANS Environment • Norwegian Electric Systems (NES) is a leading supplier of low and zero emission energy, propulsion and control systems for a wide range of vessels • Desig
Slide 16: The one-stop shop to meet future IMO targets
The one-stop shop to meet future IMO targets • NES’ fully integrated solutions enabling customers to meet greenhouse gas emission targets • Emission reduction by energy optimizing and digitization
Slide 17: Developing rapidly to meet the emerging hydrogen market
Developing rapidly to meet the emerging hydrogen market APPROVAL Approval documentation for the deck-based containerized hydrogen (H2) energy system for ships is submitted to DNV for approval in principle. The approval process for the H2-system developed for the FreeCo2ast project will be used as a
Slide 18: The world needs significant emission reduction
The world needs significant emission reduction HAV Hydrogen in pole position to take part in upcoming hydrogen projects: • offering risk reduction through significant R&D experience, approval expertise and turnkey system solutions • established partnerships with industry majors • efficient processes
Slide 19: Financials
/[1AV group A Susta inable Future at Sea - FINANCIALS
Slide 20: Key financials (unaudited)
Key financials (unaudited) Comments NOKm Q3 2022 Q3 2021 2021 • Operating income in Q3 is higher due to more trading deliveries Operating income 137 81 917 • Low margins due to lower capacity EBITDA 5 14 108 utilization EBIT 1 11 91 • EBIT margin 0.6% for the quarter Net finance 0 0 -3 Net profit 1
Slide 21: Q3 2022 balance sheet
Q3 2022 balance sheet Comments NOKm Q3 2022 Q3 2021 2021 NOKm Q3 2022 Q3 2021 2021 Current assets: unaudited unaudited audited unaudited unaudited audited Assets Equity and liabilities • Increase in receivables and reduction in Non-current assets Equity Total intangible assets 75.7 86.3 82.7 Total e
Slide 22: Cash flow statement
Cash flow statement Comments NOKm YTD Q3 2022 YTD Q3 2021 2021 Negative cash from operations Unaudited Unaudited Audited • Mainly related to project progress – Cash flow from operations NOK 52 million Net cash flow from/to operating activities -51.8 298.1 274.8 Cash flow from investments Negative ca
Slide 23: External backlog of NOK 481 million
External backlog of NOK 481 million Comments 24 • The external order backlog was NOK 481 million as of the end of Q3 2022, a decrease from 557 in Q2. • The ”fleet-agreements” signed by different ship-owners for future purchases of BWTS from NGT are not included in the 229 official backlog figures. 186
Slide 24: Market Outlook
/[1AV group A Susta inable Future at Sea - MARKET OUTLOOK
Slide 25: Summary and outlook
Summary and outlook • The maritime and marine industries are subject to tremendous regulatory, economic and public opinion pressure to reduce the environmental impacts of its operations STRONG FUNDAMENTALS FOR • HAV Group is a diversified maritime technology company renowned for innovative solutions
Slide 26: Q&A
[7AV group Q&A