Inin Group As · OSL:ININ
Inin Group As — Q2 2023 Earnings Presentation
31 slides from Inin Group As's earnings presentation, Sep 1, 2023
Slide 1: Q2/H1 2023 Company update
ININ Q2/H1 2023 Company update
Slide 2: Cautionary note
Cautionary note This presentation includes forward-looking information and statements that are subject to risks and uncertainties. Actual results may differ significantly from those communicated herein. Such forward-looking information pertain to, amongst other things; (a) forecasts, projections and
Slide 3: Introduction to Inin Group
O1 Introduction to Inin Group Inin Group — Q2 2023
Slide 4: Inin Group is a listed investment company focusing on infrastructure and industry services
Inin Group is a listed investment company focusing on infrastructure and industry services Vertical-focused buy-and-build strategy within infrastructure and industry services niches in the Nordics We create value through a combination of M&A and organic growth and development initiatives We combine
Slide 5: Inin carefully selects attractive positions within infrastructure and industry services verticals
Inin carefully selects attractive positions within infrastructure and industry services verticals Strong underlying gro’ vers and an attractive company po: Supported by strong megatrends and macro drivers * Positive ESG drivers « Regulatory support « Underlying changes in the business climate and se
Slide 6: Highlights
QO2 Highlights
Slide 7: H1 2023 - Highlights
Hi 2023 - Highlights High activity season on-going in Rail Infrastructure. Active tendering activity and multiple projects won in TIC platform. v Railway contractor & signalling experts SLAM Jernbaneteknikk AS (Q3) v Railway contractor Banefjell AS (Q3) Y Rail contractor Team 1435 AS vY Mass handlin
Slide 8: Significant organic growth in the portfolio
Significant organic growth in the portfolio * H1in line with expectations across investment platforms * High-activity season started at easter within Rail Infrastructure platform * Significant M&A activity driving related cost 60.6 * Full effect of cost reduction in cm 343 ora Elop Technology expect
Slide 9: Inin will have four main platforms after acquisition of TW Gruppen and Laje
Inin will have four main platforms after acquisition of TW Gruppen and Laje [9096 T 100% T 65%" |70%! F «cert pt Testing, Inspection & Mass handling & Rail Infrastructure Power Distribution 9. nspes ng Certification Recycling Rail focused construction, Energy infra and telecom Testing, inspection an
Slide 10: Ambition to surpass NOK 1 billion revenue in 2024
Previously communicated ambition to surpass NOK 1 billion revenue in 2024 — on track to reach NOK 1.8B Long-term EBIT target of 8-10% Full year pro-forma Revenue (BNOK) 25 7 i 2.0 1.5 1.0 05 0.0 2022 2023 2024 2025 HB inin Group - current platforms [lll Signed SPA / Term Sheet Note: Full-year pro-fo
Slide 11: Investment platform update
03 Investment platform update Inin Group — Q2/H1 2023
Slide 12: Inin Group continues to deliver on M&A growth strategy
Inin Group continues to deliver on M&A growth strategy 2022 2023 September | October | November | December | January February March April May June July August Thuve’n SLAM* + Nordic Anlegg& Banefjell AS q Infrastructs il BaneAS (Term shes Rail infrastructure eeeyeas Team wens (SPA) (Term sheet) (Ter
Slide 13: Megatrends and macro drivers
Megatrends • and macro drivers • • Market • potential • • Value creation • strategy •
Slide 14: H1 2023 Rail Infrastructure platform
• • • • • • • • • H1 2023 Nordic Hadeland • Infrastructur Amounts in NOK thousand Elektro Group Total revenue 123 541 35 953 EBITDA 11 494 5 945 Operating profit/(loss) (EBIT) 8 634 5 435
Slide 15: Megatrends and macro drivers
Megatrends • and macro • drivers • Market • potential • Value creation • strategy
Slide 16: Power Distribution
| Power Distribution | Power distribution — services within energy infrastructure, telecom and electrification * Laje, a Norwegian infrastructure construction and services company, will lead our Power Distribution platform * Laje was founded in 2002 and has 275 employees * The platform serves three
Slide 17: Megatrends and macro drivers
• Megatrends • and macro drivers • • • Market potential • • • Value creation • strategy • •
Slide 18: H1 2023 Nordic Inspekt Group
• • • • • • • H1 2023 • Nordic Inspekt Group Amounts in NOK thousand • Total revenue 2 449 EBITDA (3 798) Operating profit/(loss) (EBIT) (4 319)
Slide 19: Megatrends and macro drivers
Megatrends • and macro • drivers Market • • potential • Value creation • • strategy •
Slide 20: Mass handling & Recycling
| Mass handling & Recycling Mass handling & recycling — taking a leading position within mass handling, transportation and recycling ——— . Hl Transport Mill Oslo depot Recycling plant ININ +: Subject to final closing TW Gruppen aims to control the entire mass handling and recycling value chain This
Slide 21: Other platforms & companies under development
Other Platforms & Companies under development Companies elop oe eee Connectin Main services Elop Technology: Tools and software to inspect, monitor and manage large infrastructures Inin Analytics: Software solutions and services Connectin: Accommodation services and training & conference services IN
Slide 22: Summary and outlook
04 Summary and outlook Inin Group — Q2/Hi 2023
Slide 23: Summary and outlook
Summary and outlook Summary * Successful transformation of Inin Group to a dedicated, listed investment vehicle with a long-term investment horizon * High activity, both operationally and with M&A-processes * Solid order book of NOK 290 million * Hi Revenue of NOK 163.3 million, increase of 64% vers
Slide 24: Q&A
Q&A
Slide 25: Appendix
Appendix Inin Group — Q2/H1 2023
Slide 26: General
General General Inin Group AS (the Company, previously Elop AS) was founded in 2013 and is a limited liability company who is incorporated and domiciled in Norway, with its head office in Henrik Ibsens gate 100, 0255 Oslo, Norway. The Company is listed on Euronext Growth Oslo and has the ticker “INI
Slide 27: Inin Group consolidated income statement
Inin Group consolidated income statement
Slide 28: Inin Group segments
Inin Group segments Nordic Amounts in NOK thousand hice SS Cokie Sp Other/ — liminations Total Group Elektro Group Technology Group cost Group Revenue 123541 35953 2ae9 1430 (115) 163 258, Internal revenue - - - - 3804" - Total revenue 173541 35953 2409 1430 3779 163 258 EBITDA 11.494 5945 12798) 13
Slide 29: Inin Group consolidated balance sheet
Cash and cash equivalents 56 938 96 909 56 308 Current assets in continuing operations 155 936 151 975 65 771 Assets in discontinued operations - - 168 554 Inin Group consolidated balance sheet Total current assets 155 936 151 975 234 325 TOTAL ASSETS 389 647 362 182 294 760 Amounts in NOK thousand
Slide 30: Cashflow statement
Cashflow statement lAmounts in NOK thousand 1H 2023 1H 2022 Cashflows from operating activities Profit/(loss) before income tax (16.457) (22598) (45361) Adjustments for Taxes paid (2.043) - - Depreciation and amortization 7658 an 11628 Share-based expenses - 208 5598 Valuation of financial instrumen
Slide 31: Top shareholders
# Investor Number of shares % of top 20 % of total 1 GIMLE INVEST AS 14 518 849 17,41 % 11,14 % 2 SOGN INVEST AS 12 987 129 15,58 % 9,97 % 3 MELANDSØ INVEST AS 11 571 081 13,88 % 8,88 % 4 LEOVILLE AS 4 306 842 5,17 % 3,30 % 5 ININ GROUP AS 3 900 914 4,68 % 2,99 % 6 BHM HOLDING AS 3 782 730 4,54 % 2,