Slide 1: Second quarter 2023 – result presentation
Second quarter 2023 – result presentation 31 August 2023 | Bergen, Norway
Slide 2: Q2 highlights
Q2 highlights Scana wins important contracts within all three divisions this quarter; offshore – energy – maritime Positive development in the offshore market, utilizing the capacity at our locations Energy shows progress within several markets: Energy storage E-house modules Shore power
Slide 3: Q2 highlights: continued increase in revenue and EBITDA
Q2 highlights Continued increase in revenue and EBITDA Adjusted revenue* Adjusted EBITDA* Order backlog Q2 22 vs +99% to +151% to +150% to Q2 23 NOK 409 mill . NOK 59 mill. NOK 1109 mill. - - - -d * refers to page 24 Adjusted Revenue Adjusted EBITDA Order backlog Order intake 1.035 450 1.0 00 59 1.1
Slide 4: May 26, 2023 First- Quarter Results 2023 Slide 4
May 26, 2023 First- Quarter Results 2023 Slide 4
Slide 5: Latest within Offshore
Latest within Offshore New orders Operations Outlook Order intake Q2: NOK 113 million Maintenance services to Equinor’s The offshore continues improving both refinery proceeding according to plan. within drilling and subsea- Second life for used equipment for the 115 people successfully onbo
Slide 6: Energy
a ENERGY
Slide 7: Latest within Energy
Latest within Energy New orders Operations Outlook Order intake Q2: NOK 116 million Shore power solutions for cruise ships We see great market opportunity in grid delivered in Norway scale energy solutions (BQ-G), as the Several contracts signed for (Karmsund and Hammerfest) need for energ
Slide 8: Maritime
MARITIME Vv
Slide 9: Latest within Maritime
Latest within Maritime New orders Operations Outlook Order intake Q2: NOK 122 million Skarpenord completes the sale of its The energy crisis accelerates offshore shares in Scana Korea Hydraulic wind projects, where we are well Seasystems has been awarded three positioned. contracts for the d
Slide 10: Financial Performance
Financial Performance
Slide 11: Significant growth, improved margins
Significant growth, improved margins Income statement - Group QUARTER YEAR TO DATE NOK million Q2 22 Q1 23 Q2 23 1H 23 1H 22 Revenue 205.5 400.5 408.7 809.2 413.3 Adjusted revenue of NOK 408.7 million Adjusted Revenue 205.5 400.5 408.7 809.2 412.2 Quarterly adjusted revenue up by 99% compared to
Slide 12: Robust liquidity position
Robust liquidity position Funding, 30 June 2023 | NOK million Cash flow Q2 | NOK million NWC * 158 Lease liabilities NIBD 427 Intangible assets Equity and Goodwill 399 NIBD 144 Liquidity reserve of NOK 91.5 million at end of quarter Property, plant and equipment Cash flow from operation was NOK
Slide 13: Order backlog
Order backlog Order backlog of NOK 1109 million at end of Q2 2023. NOK 568 million of the order backlog related to projects to be executed in 2023 The order backlog for Equinor's Mongstad refinery contract considers staffing levels per the agreement. Tank maintenance and project-based tasks wi
Slide 14: Offshore
Offshore Products, services and life-time extensions to critical equipment for offshore industries. Adjusted Revenue Adjusted EBITDA 204 million in 42 revenue in Q2 2023 210 31 160 110 16 9 14 60 95 75 114 200 204 49% 10 (40) Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 1 Order backlog Order intake % of total Ad
Slide 15: Energy
Offshore From shoreline to seabed, we power the ocean industry with sustainable energy solutions. Adjusted Revenue Adjusted EBITDA 114 million in revenue in Q2 2023 16 14 120 100 9 80 60 8 7 114 40 20 65 110 93 115 28% 0 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 1 Order backlog Order intake % of total Adjuste
Slide 16: Maritime
Offshore Valve control systems and mooring solutions to vessels, rigs, and floating structures. Adjusted Revenue Adjusted EBITDA 94 million in 100 revenue in Q2 2023 12 11 90 80 7 70 6 60 4 50 94 40 53 45 65 86 23% 30 20 10 0 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Order backlog Order intake Adjusted revenu
Slide 17: Subsequent events, Q2
Subsequent events, Q2 Scana have signed important contracts for grid stabilization PSW Power & Automation has signed a sizeable contract for a battery storage system with Uddevalla Energi in Sweden and a substantial contract for a battery storage system with Jönköping Energi The battery systems
Slide 18: Why invest in Scana
Why invest in Scana A portfolio with exposure to an improving offshore market combined with electrification and renewable energy Delivered good growth in revenue and EBITDA in 2023 Positioned to leverage previous investments in equipment and facilities Significant growth opportunities both o
Slide 19: Additional information
Additional information
Slide 20: Income statement
Income statement QUARTER FULL YEAR QUARTER YEAR TO DATE NOK million Q1 22 Q2 22 Q3 22 Q4 22 2022 Q1 23 Q2 23 1H 23 1H 22 Revenue 207.8 205.5 226.9 271.6 911.7 400.5 408.7 809.2 413.3 Operating expenses -191.5 -185.7 -207.3 -256.6 -841.1 -357.0 -350.8 -707.8 -377.1 EBITDA 16.3 19.8 19.6 14.9 70.6 43.
Slide 21: Financial position
Financial position NOK million 31.03.22 30.06.22 30.09.22 31.12.22 31.03.23 30.06.23 Deferred tax assets 66.4 66.4 66.4 52.4 52.4 52.4 Goodwill 210.8 210.8 210.8 274.2 274.2 274.2 Intangible assets 128.0 126.2 123.8 71.6 71.6 72.8 Right-of-use assets 395.8 399.1 396.8 402.6 421.5 412.3 Property, pla
Slide 22: Cash Flow
Cash Flow QUARTER FULL YEAR QUARTER YEAR TO DATE NOK million Q1 22 Q2 22 Q3 22 Q4 22 2022 Q1 23 Q2 23 1H 23 1H 22 Profit / (loss) before tax -13.1 -15.0 -17.3 -10.4 -55.8 11.2 33.6 44.8 -28.1 Tax paid -0.2 -0.3 -0.5 1.0 0.0 -0.7 -0.1 -0.8 -0.6 Gain / loss -1.1 -3.1 0.9 -6.2 -9.5 0.2 -4.8 -4.6 -4.2 D
Slide 23: Split per segment
Split per segment NOK million QUARTER FULL YEAR QUARTER YEAR TO DATE Revenue Q1 22 Q2 22 Q3 22 Q4 22 2022 Q1 23 Q2 23 1H 23 1H 22 OFFSHORE 84.4 94.7 74.7 113.6 367.3 200.0 203.6 403.6 179.0 ENERGY 85.1 64.8 110.2 94.6 354.6 115.3 114.3 229.6 149.9 MARITIME 38.9 52.6 44.7 64.7 200.9 86.4 93.8 180.2 9
Slide 24: Alternative Performance Measures
Alternative Performance Measures Alternative performance measures, which means financial target figures that are not defined Adjusted Revenue Revenue less adjustments related to identified revenue that are excluded to within the current financial reporting framework, is used by Scana to provide addi
Slide 25: Thank you
If you have any questions, please send them to ir@scana.no Thank you Scana ASA | Wernersholmvegen 49 | NO-5232 Paradis, Norway | E post@scana.no scana.no