Slide 1: Q1 2022 Presentation
Q1 2022 Presentation May 2022
Slide 2: IWS | A fully integrated offshore wind solutions provider
IWS | A fully integrated offshore wind solutions provider 2
Slide 3: IWS business areas | Covering integrated services and asset management
IWS business areas | Covering integrated services and asset management Integrated Services Operations and Asset Management 97%1) 100% 30% → 49%2) Engineering, analytics, Owner and operator of and O&M services and high-end CSOVs A leading provider of solutions Operations and Asset Management 1) 97% o
Slide 4: Q1 2022 | Highlights
Q1 2022 | Highlights Total revenue of NOK 51m and EBITDA of NOK -7m for Q1 2022 vs. NOK 50m and NOK 3m for Q4 2021, respectively Intention to sign a charter contract for Dogger Bank C with commencement in 2025. Contracts for Dogger Bank A and B already secured and announced Good progress on the firs
Slide 5: Q1 2022 | Highlights (cont.)
Q1 2022 | Highlights (cont.) 5
Slide 6: IWS Skywalker | Commissioning Service Operation Vessel newbuilding 1
IWS Skywalker | Commissioning Service Operation Vessel (“CSOV”) newbuilding 1 6
Slide 7: Offshore Wind Market Update
OFFSHORE WIND MARKET UPDATE Offshore wind ambitions soar as a consequence of the war in Ukraine The effect of covid and the war in Ukraine has shifted attention to the topic of energy security and initiated multiple new commitments for offshore wind in several European countries. European 2030 capac
Slide 8: CSOV market | Favourable market dynamics
CSOV market | Favourable market dynamics Growth in offshore wind turbines (# ‘000) Vessel supply & demand (#) Charter rates for offshore wind vessels Source: Clarksons 8 *SPS = “Special Purpose Ships”, which are vessels that carry special personnel who are neither crew members nor passengers *W2W =
Slide 9: IWS Fleet | CSOVs contracted at attractive prices
IWS Fleet | CSOVs contracted at attractive prices Newbuilding yard prices1 (EUR million) Four CSOVs ordered at an attractive average yard price of EUR 46m 9 1) Source: Clarksons
Slide 10: IWS Fleet | Well positioned to benefit from a strong market
IWS Fleet | Well positioned to benefit from a strong market Under construction Firm contracts Options 10 1) The contract will be effective when contractual documentation is completed, expected in Q2 2022.
Slide 11: Key financials | Q1 2022
Key financials | Q1 2022 Income statement (NOK '000) Q1 2022 Q4 2021 Operating revenue 49,591 48,170 PEAK Wind share of net profit of NOK 2.1m. NOK -0.8m related to Share of net profit of associates © 1,278. 1,647 the depreciation of intangible assets. Total revenue 50,870 49,817 “46,647 NOK 47m rel
Slide 12: Key financials | Q1 2022
Key financials | Q1 2022 Balance sheet (NOK ‘000: Q12022. Q4.2021 Q12022 © Q4.2021 Vessel building contracts 330,179 90,671 Share capital 52,802 35,201 Intangible assets 65,065 68,093 Share premium reserve 907,006 647,676 Investments, equity method (PEAK Wind) 123,877 130,942 Retained earnings 42,68
Slide 13: Outlook
Outlook Highly positive outlook for the offshore wind industry Well-positioned to take part in the industry growth by providing CSOVs, electrical works (ProCon), offshore wind consultancy (Green Ducklings), and the consultancy & advisory and operations and asset management services of wind farms pro
Slide 14: iws@integratedwind.com integratedwind.com
iws@integratedwind.com integratedwind.com