Slide 1: HAV Group ASA First quarter 2023
PRESENTERS: HAV GROUP ASA Gunnar Larsen CEO First quarter 2023 Marius Koksvik VP Business Development
Slide 2: Agenda
AGENDA 1. HAV Group in brief and Q1 highlights 2. Megatrends and strategy 3. Business update 4. Financials 5. Summary and outlook 6. Q&A
Slide 3: HAV Group ASA: Enabling the green transition at sea
HAV GROUP ASA: Enabling the green transition at sea International provider of green technology and services Vision: A sustainable future at sea for maritime industries Comprises four subsidiaries with several decades of Special expertise in guiding the marine and maritime combined industry experienc
Slide 4: Q1 Highlights
Q1 HIGHLIGHTS Key developments Q1 23 • Revenue decline vs Q1 2022 partly connected to low order intake in 2022 • Weak EBIT partly linked to decision to maintain capacity to be able to fully capitalize on forthcoming growth opportunities • Solid order intake of NOK 240 million, equivalent to book-to-
Slide 5: Maritime greentech megatrends and HAV Group strategy
MARITIME GREENTECH MEGATRENDS AND HAV GROUP STRATEGY
Slide 6: HAV attractively positioned for maritime megatrends
HAV attractively positioned for maritime megatrends Yearly offshore wind turbine installations World merchant fleet by building year NWE N. America S. America Taiwan Other APAC China Tankers Bulk Carriers Container Gas carriers Cruise / RoPax / RoRo Offshore Others 3 500 60 Implied yearly added SOVs
Slide 7: HAV Group perfectly positioned to leverage the greentech maritime megatrends
HAV Group perfectly positioned to leverage the greentech maritime megatrends Advise customers regarding selection of vessel parameters and technologies that enable them to increase their competitiveness and enable the green transition at sea Pioneering innovations in the design and construction of z
Slide 8: HAV Group value creation
HAV Group value creation STRATEGIC DEVELOPMENT COMPLIMENTARITY SYNERGIES VALUE & GROWTH Actively taking part in the companies’ Creating stakeholder value through Extracting synergies through economies Pursuing value accretive growth strategic development to implement collaboration and utilizing comp
Slide 9: HAV Group – Enabling the green transition at sea
HAV Group – Enabling the green transition at sea Four subsidiaries with a leading position within their respective segments Energy Hydrogen- Water Ship design design and based energy treatment smart control systems systems systems Supplier of innovative ship Supplier of sustainable Supplier of zero-
Slide 10: Ship design Q1 highlights
Ship design Q1 highlights • Breakthrough in US offshore wind market • First European ship designer to develop SOV for the US • Development of the most efficient vessels market possible, covering every aspect of vessel • Chosen by CREST, a joint venture of Esvagt and Crowley performance and functiona
Slide 11: Energy design and smart control systems Q1 highlights
Energy design and Q1 highlights smart control systems • Important contract awards in the quarter: • Contract with Cemre Shipyard for two “Windkeeper” SOVs • Supplier of low and zero-emission energy, to GC Rieber Shipping propulsion and control systems for the global • Equipment delivers and system i
Slide 12: Hydrogen-based energy systems Q1 highlights
Hydrogen-based Q1 highlights energy systems • Obtained DNV Approval in Principle (AiP) for containerized H2 system for ships: Zero Emission Pod • Complete and scalable zero-emission • AiP confirms that “the design is feasible and that no significant hydrogen-based energy systems obstacles exist to p
Slide 13: Water treatment systems Q1 highlights
Water treatment systems Q1 highlights • Recurring business represents increasing proportion of revenue • Ballast water treatment systems (BWTS) for • Solid order intake in quarter ships • Compact and highly flexible systems with • Growing order backlog for third quarter in a row very low energy cons
Slide 14: Financials
117A\V group - FINANCIALS
Slide 15: Q1 2023 key financials (unaudited)
Q1 2023 key financials (unaudited) Comments • As the business is largely project-driven, NOKm Q1 2023 Q1 2022 2022 periodic fluctuations will occur • Low capacity utilization for all business Operating income 110.3 198.8 621.8 segments in the quarter, partly linked to low order intake in 2022 EBITDA
Slide 16: Segment financials
Ship design Water treatment systems NOKm Q1 2023 Q1 2022 2022 NOKm Q1 2023 Q1 2022 2022 Operating income 19.9 21.1 155.4 Operating income 41.0 81.9 226.7 EBIT -4.3 0.3 10.7 EBIT -0.1 8.0 24.5 Profit before tax -4.1 -0.7 10.5 Profit before tax 1.3 6.5 23.3 Energy design & smart Hydrogen-based energy
Slide 17: Q1 2023 balance sheet
Q1 2023 balance sheet Comments NOKm Q1 2023 Q1 2022 NOKm Q1 2023 Q1 2022 unaudited unaudited unaudited unaudited Assets: • Cash and bank deposit increased by NOK Non-current assets Equity 16.2 million and total receivables Total intangible Total equity 83.9 141.0 increased by NOK 26.2 million from y
Slide 18: Q1 2023 cash flow statement
Q1 2023 cash flow statement Comments NOKm Q1 2023 Q1 2022 Positive cash flow from operations Unaudited Unaudited • Driven by increase in advance payments Cash flow from operations from customers Net cash flow from/to operating activities 48.4 21.1 Negative cash from investments Cash flow from invest
Slide 19: Book-to-bill of 2.2x in Q1 2023
Book-to-bill of 2.2x in Q1 2023 Order intake Order backlog 350 700 300 600 250 500 200 400 150 300 100 200 50 100 0 0 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023
Slide 20: Order backlog: segment breakdown
Order backlog: segment breakdown Comments • For water treatment systems, ”fleet- agreements” signed by different ship owners are not included in the official 350 backlog figures 313 14 300 • Positive order backlog development for all 250 231 business segments 200 150 614 100 84 50 Internal External
Slide 21: Summary and market outlook
117A\V group - SUMMARY AND MARKET OUTLOOK
Slide 22: Why invest
Why invest Strong fundamentals and megatrends for maritime greentech Perfectly positioned to leverage the green maritime megatrends Track-record of profitable operations and robust balance sheet Solid position for value creation
Slide 23: Outlook
Outlook • Global megatrends, including regulatory changes, provide incentives and requirements for the maritime industry to reduce the environmental footprint short and long term • HAV Group possesses the technologies and products that enable the green transition at sea • The global maritime market
Slide 24: 17A\V group
17A\V group