Slide 1: Q1 2023 Operational Update
Q1 2023 Operational Update Ole Falk Hansen, CEO Nekkar ASA | 25.05.2023
Slide 2: Disclaimer
Disclaimer By reading this company presentation (the “Presentation”), or attending any meeting or oral presentation held in relation thereto, you (the “Recipient”) agree to be bound by the following terms, conditions and limitations. The Presentation has been produced by Nekkar ASA (the “Company”) f
Slide 3: Nekkar in brief
Nekkar in brief Revenue 2022 MNOK 388 Industrial technology company Order backlog Presently a portfolio of established businesses and impact technology ventures MNOK 832 within ocean-based industries World-class engineering expertise MNOK 188 in cash Proven track-record delivering complex and profit
Slide 4: Nekkar operates in four main business areas
Nekkar operates in four main business areas, focused on sustainable technologies for ocean-based industries Shipyard segments Business Renewables Aquaculture Digital Solutions companies Portfolio technology ventures Impact 4
Slide 5: The portfolio consists of mature businesses and new impact technology ventures
The portfolio consist of mature, financially solid business, and new impact technology ventures Nekkar portfolio, overview of maturity level and key focus areas 3. ESTABLISHED 2. GROWTH Installed customer base Focus on profitability Proven products 1. INNOVATION Broaden customer base Service on inst
Slide 6: Nekkar Q1 2023 highlights
Nekkar Q1 2023 highlights Highlights • Revenue of MNOK 101, up 20% versus Q1 2022 (Q1 2022: MNOK 84) • Operational EBITDA1 of MNOK 23 (12), equivalent to margin of 23% (14%) • Strong balance sheet: MNOK 188 in cash, no interest-bearing debt, MNOK 200 undrawn credit facility • Order intake of MNOK 27
Slide 7: Key financials | Per quarter
Key financials | Per quarter Revenue (MNOK) Operational EBITDA (MNOK) & margin (%)1 140 30 +92% 30% +20% 125 25 120 25 25% 23 100 101 21 100 20 20% 84 79 80 15 15% 13 12 60 10 10% 40 5 5% 20 0 0 0% Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Operational EBITDA Ope
Slide 8: Order intake and backlog
Order intake and backlog Order intake per quarter (MNOK)1 Order backlog2 development (MNOK) 140 1000 894 900 120 117 824 832 795 105 800 763 100 700 600 80 500 60 400 40 300 31 27 24 200 20 100 0 0 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 8 1 Does not account for FX fluctuations i
Slide 9: Nytt bilde?
Nytt bilde? 9
Slide 10: Signing ceremony for DMC contract on May 10th, 2023
Signing ceremony for DMC contract on May 10th, 2023 10
Slide 11: High visibility and tendering activity
High visibility and tendering activity Order backlog by execution year1 Tender pipeline, newbuild/upgrades by year1 of contract award MNOK MNOK 900 3.000 824 800 2.500 700 600 2.000 519 500 1.500 400 300 1.000 2.000 200 1.300 305 500 100 0 0 2023 2024-> Total 2023/24 2025 11 1 Timings are indicativ
Slide 12: Nekkar strengthens its presence through the acquisition of Techano
Nekkar strengthens its presence within renewables and aquaculture through the acquisition of Techano Announced 23.03.2023 12
Slide 13: Strengthened business offering through the Techano acquisition
Strengthened business offering through the Techano acquisition Complementary specialist team Combining Nekkar’s unique in-house automation, electrification, and software competence, with industry specialist personnel from Techano who are specialists in offshore load handling and lifting equipment So
Slide 14: Value proposition
Techano acquisition unlocks expanded product offering in Nekkar’s core industries Markets Offshore Renewables Aquaculture Gangways Cranes Fish handling systems Products • Crew and trolley transfer for • Offshore/shipboard • Net handling C/SOVs • Wire topping/ Telescopic/ • Live fish handling to / fr
Slide 15: Targeting offshore wind vessels with strong value proposition and track-record
Targeting offshore wind vessels with strong value proposition and track-record Gangway 3D-crane Digital Operator System • Nekkar previously developed Horizon • Strong track-record with active heave • Phoenix – Well tested in market today with gangway delivered to Louis Dreyfus (part of compensation
Slide 16: Attractive growth market for Nekkar's disruptive products
Attractive growth market for Nekkar’s disruptive products 14.000 turbines installed in Europe by 2030 CSOV new builds lagging demand 35,000 240 Cumulative additions turbines offshore wind CSOV supply vs. demand 220 30,000 200 180 25,000 +12% 160 20,000 140 Turbines Vessels 120 15,000 100 80 10,000 1
Slide 17: Breakthrough crane contract for wind cable-lay support vessel
Breakthrough crane contract for wind cable-lay support vessel (CLSV) • 70t offshore crane that can support both subsea and topside lifting operations • Intellilift to deliver the crane’s steering system • Contract value: EUR ~4 million • Delivery: 2024 • Booked as order intake in Q2 2023 17 Illustra
Slide 18: Successful commissioning of live fish transfer system for SalMar Aker Ocean
Successful commissioning of live fish transfer system for SalMar Aker Ocean • Delivery of 2 x Techano FTS500 fish transfer systems • System developed to ensure safe and efficient transfer of live fish between aquaculture installations and live fish carriers even in harsh offshore environments • Safe
Slide 19: Intellilift
VW |NTELLILIFT
Slide 20: Breakthrough contract for InteliWell joint venture
Breakthrough contract for InteliWell joint venture • Four-year contract with Transocean for Transocean Norge • Operators: Wintershall Dea and OMV on 17-well campaign on NCS • Rig to be equipped with InteliAutomate-solution which ensures automatic execution of pre-built optimized operational sequence
Slide 21: Impact technology ventures
pictures Impact technology ventures 21
Slide 22: Impact technology ventures update
Impact technology ventures update wind turbine installation machine Increased focus on offshore wind and Major Components Exchange • Focus on how to reduce operational cost through lifecycle by exchange of major components offshore (blades, gearbox etc.) compared to tow-to-shore • Includes a floatin
Slide 23: Financial highlights
Nekkar ASA Financial highlights Consolidated statement of profit and loss Unaudited Audited First quarter revenue of MNOK 101, representing an Nekkar ASA increase of ~20% year-on-year Q1 Full-Year MNOK 2023 2022 2022 Q1 operational EBITDA of MNOK 23 compared to MNOK Revenue 101 84 388 12 in the
Slide 24: Summary Q1 2023 & outlook
Summary Q1 2023 & outlook Summary Outlook Backlog provides good visibility for 2023 and Strong operational EBITDA and EBIT in first quarter 2023 2024 High tendering activity Successful implementation of InteliWell’s Long-term order backlog of MNOK 832 million, plus a strong xx breakthrough awa
Slide 25: Alternative performance measures
Nekkar ASA Alternative performance measures INTRODUCTION TO ALTERNATIVE PERFORMANCE MEASURES (APMs) PROFIT MEASURES Nekkar Group (Nekkar) discloses alternative performance measures in addition EBITDA is short for “earnings before interest, taxes, depreciation and to those normally required by IFRS.
Slide 26: nekkar.com
AY NEKKAR nekkar.com