Slide 1: Trading Update and Half Year 2021 Report
TRADING UPDATE AND HALF YEAR 2021 REPORT Henrik Badin, CEO Vow ASA Oslo, 26 August 2021
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by the management of Vow ASA using commercially reasonable efforts to provide estimates and information about the company and prospective new markets. The presentation includes and is based, inter alia, on forward-looking information and statements that
Slide 3: About Us
ABOUT US Provider of world leading technologies to eliminate pollution, enhance circular economy and mitigate climate change Offering patented unique solutions that turn waste and biomass into Our brands CO2 neutral energy, decarbonised energy, low-carbon fuels and biocarbon Proven ability to contin
Slide 4: Financial and Operational Headlines
FINANCIAL AND OPERATIONAL HEADLINES
Slide 5: Key Takeaways H1 2021
KEY TAKEAWAYS H1 2021 Revenues H1 2021 revenues at 201 million, down from 247 million in H1 2020. -18 %2 EBITDA margin remained at 10 % level 201 y-o-y • Aftersales revenue reduced by 21 million due to covid-19 slowdown in cruise. million Activity now slowly picking up • Projects Cruise continues to
Slide 6: Financial KPIs
FINANCIAL KPIS Vow Follum Aftersales marked by lock-down in cruise, overall profit margin remained strong 778 Options 248 542 584 Landbased 590 199 212 48 201 182 19 40 49 34 330 Aftersales 60 14 18 66 1 061 Backlog 12% 12% 989 952 10% 10% 10% 890 160 149 149 700 Cruise projects 122 114 H1 19 H2 19
Slide 7: Business Update and Outlook
BUSINESS UPDATE AND OUTLOOK
Slide 8: Cruise Industry Rebounds
CRUISE INDUSTRY REBOUNDS Number of cruise ships at sea climb Recent newbuild and retrofit contracts for Scanship from 20 to 200 during summer, activity confirm cruise industry’s confidence about future in aftersales set to increase demand February Two wastewater purification systems on ships enterin
Slide 9: Building Landbased Step by Step
BUILDING LANDBASED STEP BY STEP Experiencing strong demand across a wide range of industry verticals and applications, demonstrating the versatility and relevance of Vow’s technology and solutions Recent contract awards Project execution Business development Selection of ongoing deliveries to Strate
Slide 10: Vow Green Metals Launched and Listed
VOW GREEN METALS LAUNCHED AND LISTED Demerger and launch of Vow Green Metals completed in July 2021, first day of trading 12 July CEO Cecilie Jonassen on board from mid-August, bringing broad experience from pulp and paper industries Vow is working closely with Vow Green Metals on detail design of F
Slide 11: Growth Supported by 'Green' Capital
GROWTH SUPPORTED BY ‘GREEN’ CAPITAL Policies and fiscal stimuli drive investors and lenders towards Successful private placement raising 230 million gross low-carbon industries proceeds to Vow, providing initial funding to Vow Green Metals, further build-up and development and landbased business Sec
Slide 12: Concluding Remarks
CONCLUDING REMARKS Covid-19 lock-down continued to affect financial performance in first part of 2021, especially in Aftersales (cruise) Cruise industry now in recovery, several contracts for newbuilds and retrofits confirmed, activity in aftersales gradually increasing Robust order backlog of 1.1 b
Slide 13: Thank You for Your Attention
THANK YOU FOR YOUR ATTENTION Vow ASA | Lysaker Torg 12 | 1366 Lysaker | Norway | www.vowasa.com
Slide 14: Segment Information
ADDITIONAL MATERIAL SEGMENT INFORMATION
Slide 15: Projects | Cruise
PROJECTS | CRUISE Half-year revenues slightly down y-o-y due to phasing of project delivery schedules. Activity picking up in Q2 EBITDA improved. Proven and efficient delivery model continues to produce strong EBITDA margin Retrofit and newbuild contracts bring order backlog to record level as confi
Slide 16: Aftersales | Cruise
AFTERSALES | CRUISE Demand firming up as cruise liners are resuming operations following roll-out of Covid-19 vaccine Revenues reduced by 21.4 million YoY, Q2 2021 shows clear sign of improvements over previous quarters NOK 18.3 million revenues NOK million H1 21 H1 20 2020 Revenues 18.3 39.7 53.3 S
Slide 17: Landbased
LANDBASED Revenues and profit reflect high activity on process optimisation, commissioning of systems and business development with new industry partners in landbased verticals Backlog increased as Biogreen technology continues to prove relevance across a wide range of industries Engineering of Biog