Akva Group Asa · OSL:AKVA
Akva Group Asa — Q4 2009 Earnings Presentation
14 slides from Akva Group Asa's earnings presentation, Feb 18, 2010
Slide 1: 4Q 2009 presentation
The global leader in aquaculture technology 4Q 2009 presentation 18 February 2010 Knut Molaug, CEO Morten Nærland, CFO Agenda Background & highlights 4Q 2009 Financial review Outlook Q&A 2 1
Slide 2: AKVA group in brief
3 AKVA group in brief Software systems Cage systems AKVA group facts and services • The leading aquaculture technology supplier • Strong market position with all main products • The only player with global presence • Strong and experienced management • Leading supplier to a global growth industry Op
Slide 3: 4Q highlights
One-stop-shop in aquaculture technology Value chain planning and optimising software 5 Land based farms Cage based farms 4Q highlights ● 2009 a challenging year for AKVA group ● Revenue was affected by restrictive investment policies in the salmon industry in general during 2009 ● Operating revenue
Slide 4: 4Q highlights
4Q highlights ● EBITDA in 4Q hit by several items related to projects and accounting adjustments. ● Operating revenue for 2009 was 599 MNOK a reduction of 31% compared to 2008. ● The EBITDA for 2009 showed a loss of 11.5 MNOK. ● Sound order inflow in December and so far in 2010. 7 4Q highlights ● Ch
Slide 5: 4Q Financials – P&L
Agenda Background & highlights 4Q 2009 Financial review Outlook Q&A 9 4Q Financials – P&L P&L 2009 4Q 4Q Year Year (MNOK) 2009 2008 2009 2008 Operating revenues 142.9 191.8 599.3 866.5 Operating costs excl. depreciation 158.9 201.5 610.9 -813.8 EBITDA -16.1 -9.7 -11.5 52.7 Depreciation & Amortisatio
Slide 6: 4Q Financials – P&L comments
4Q Financials – P&L comments ● Operating revenue in 4Q09 was 143 MNOK. Quarterly revenue reduced by 25% compared to 2008 Continued low revenues due to restrictive investment programs by the customers ● The EBITDA result was -16.1 MNOK EBITDA in 4Q hit by several items related to projects and a
Slide 7: Business areas - INTECH
Business areas - INTECH INTECH (MNOK) 154 135 130 135 150 118 115 103 95 100 80 83 60 49 Revenues 50 2009 0 2008 1Q 1Q 2Q 2Q 3Q 3Q 4Q4Q 2007 20 17,6 11,7 10,5 10,6 11,5 11,3 9,6 10 EBITDA 1,1 3,0 -4,0 0 -3,0 -10 -6,4 ● Earnings affected by low volumes in 4Q. ● Some effects from special cost items. 1
Slide 8: Balance sheet
Balance sheet Balance sheet (legal) Year Year (MNOK) 2009 2008 Intangible fixed assets 243.9 251.7 Tangible fixed assets 39.1 41.5 Long term financial assets 1.1 2.5 Fixed assets 284.1 295.7 Stock 114.7 142.4 Receivables 161.3 171.1 Cash and bank deposits 56.5 47.9 Current assets 332.5 380.5 Total a
Slide 9: Financial position
Financial position Equity (%) ● Equity: 55 % Sound equity position 50 % 50 % 49 % 47 % 46 % 46 % 46 % 45 % 45 % 45 % 42 % 40 % 35 % 30 % 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 Cash balance (MNOK) ● Cash Position: 150 Available cash 76 125 103 MNOK 98 100 75 63 57 56 48 51 52 50 40 25 0 4Q0
Slide 10: Order backlog and inflow
Order backlog and inflow Order backlog and inflow per quarter (MNOK) Order backlog 382 373 Order inflow 400 305 281 263 300 253 198 189 202 200 183 204 205 200 155 147 161 144 90 100 0 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 ● Order backlog is reduced by 49 MNOK compared to the same time last y
Slide 11: Outlook
Outlook ● Investment climate The market fundamentals of the aquaculture industry remain favourable. AKVA’s main customers experienced healthy earnings in 2009. Still the company experienced significant negative impact in the market in 2009 based on the global financial and economic crisis. ● F
Slide 12: Outlook; Future changes to reporting
Outlook ● Other species / markets The growth towards other species than salmon continue to expand according to strategic objectives. The prospect mass for deliveries to other species than salmon continue increasing The global financial has added uncertainty also to these markets, but there are
Slide 13: AKVA group – global presence
Agenda Background & highlights 3Q 2009 Financial review Outlook Q&A 25 AKVA group – global presence Norway Iceland Scotland Denmark Canada Canada Turkey AKVA office China AKVA representation Thailand Vietnam Malaysia Chile All major industry players as customers 26 13
Slide 14: AKVA group – brief historic summary
AKVA group – brief historic summary 1974: World’s fist plastic cages (Polarcirkel) – today more than 40.000 units delivered 1978: First Seafood industry software solution 1980: World’s first automatic feed systems 1984: Maritech: first seafood industry PC based ERP software system Innovations: 1985: