Slide 1: Bonheur ASA 1 quarter 2020
Bonheur ASA 1 quarter 2020 13 May 2020
Slide 2: Highlights 1Q 2020
Highlights 1Q 2020 Bonheur ASA Group of companies Figures in paranthesis (1Q19) Consolidated: Renewable energy Shipping/Offshore wind Cruise ▪ Operating revenues were NOK 1 967 million (NOK 1 687 million) ▪ EBITDA was NOK 250 million (NOK 251 million) ▪ Impairments of NOK 93 million (0) ▪ EBIT was N
Slide 3: Consolidated summary
Consolidated summary Bonheur ASA Group of companies Change in Impairment: (NOK million) 1Q 20 1Q 19 NOK Revenues 1 967 1 687 279 ▪ Other Investments – Impairment of investment in Mention APS, a EBITDA 250 251 0 subsidiary of NHST Depreciation -258 -229 -29 Impairment -93 0 -93 EBIT -101 22 -123 Net
Slide 4: Segment analysis – Revenues
Segment analysis – Revenues Bonheur ASA Group of companies (NOK million) 1Q 20 1Q 19 Change Renewable energy 559 513 46 Shipping/Offshore wind 630 369 261 Cruise 499 504 -6 Other 280 301 -21 Total Revenues 1 967 1 687 279 NOK / EUR (average) 10,46 9,74 7,3 % NOK / GBP (average) 12,12 11,17 8,5 % GBP
Slide 5: Segment analysis – EBITDA
Segment analysis – EBITDA Bonheur ASA Group of companies (NOK million) 1Q 20 1Q 19 Change Renewable energy 419 384 35 Shipping/Offshore wind -29 -51 22 Cruise -105 -44 -61 Other -34 -38 4 Total EBITDA 250 251 0 5
Slide 6: Cash, Debt and Guarantees as per 1Q 20
Cash, Debt and Guarantees as per 1Q 20 Bonheur ASA Group of companies Whereof External (NOK million) Cash guaranteed debt by Bonheur Renewable energy (FOR) (Joint Ventures and associated holding companies) 482 6 980 23 Shipping / Offshore wind (FOO) (Joint Venture, associated holding companies and o
Slide 7: Renewable energy
Renewable energy
Slide 8: Generation (MWh)
Renewable energy Generation Capacity Factors and Generation 60% 700 000 50% 600 000 Generation (MWh) Ca pa city fa ctor (%) 40% 500 000 400 000 30% 300 000 20% 200 000 10% 100 000 0% - 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 UK (total) Sweden Norway Generation (MWh) Ca pa city fa ctor = 8
Slide 9: Energy prices development
Renewable energy Energy prices development Power prices (quarterly average) £70 80 € El-Prices for Sweden and Norway (€/MWh) 70 € Price for Carbon emissions (EUR /ton) £60 60 € Prices for UK (GBP/MWh) £50 50 € £40 40 € £30 30 € £20 20 € £10 10 € £0 - € 2Q 2018 3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019
Slide 10: Business Model and Project Portfolio
Business Model and Project Portfolio Site Investigation Development Consented Construction Operation Scotland Scotland – 500-600 MW Ireland Sweden Scotland Crystal Rig extension Codling Bank – 500 MW Högaliden 105 MW Crystal Rig – 62.5 MW Norway Crystal Rig II - 138.0 MW Rothes extension offshore (5
Slide 11: Shipping / Offshore wind
Shipping / Offshore wind
Slide 12: Shipping / Offshore wind
Shipping / Offshore wind Activity in the quarter and build up of sound long term backlog Results in the quarter impacted by: ▪ All three Tern vessels worked on various projects in the quarter ▪ Low efficiency due to i.a. adverse weather conditions ▪ Jill was idle in the quarter ▪ Utilization for T&I
Slide 13: Cruise
Cruise
Slide 14: Cruise
Cruise Events in the quarter ▪ Good booking performance before Covid-19 ▪ All 4 cruise ships in lay-up in Scotland ▪ Cruise operation paused until it is considered safe to resume cruising ▪ Various start-up scenarios are evaluated ▪ High uncertainty regarding consequences and timespan makes financia
Slide 15: Highlights 1Q 2020
Highlights 1Q 2020 Bonheur ASA Group of companies Figures in paranthesis (1Q19) Consolidated: Renewable energy Shipping/Offshore wind Cruise ▪ Operating revenues were NOK 1 967 million (NOK 1 687 million) ▪ EBITDA was NOK 250 million (NOK 251 million) ▪ Impairments of NOK 93 million (0) ▪ EBIT was N