Kongsberg Gruppen Asa · OSL:KOG
Kongsberg Gruppen Asa — Q3 2015 Earnings Presentation
18 slides from Kongsberg Gruppen Asa's earnings presentation, Oct 30, 2015
Slide 1: Investor Presentation 3rd Quarter 2015
INVESTOR PRESENTATION 3RD QUARTER | 30 OCTOBER 2015 Foto: Darin Russell / Lockheed Martin
Slide 2: Highlights
HIGHLIGHTS Good overall performance in Q3 • Diversified business model provides robustness • Proactively adapting to a challenging oil & gas market • Pursuing significant opportunities within defence • Looking beyond the cycle, significant R&D investments • Contract with Avinor for remote towers – e
Slide 3: Financial Status Q3 - Revenues
FINANCIAL STATUS Q3 - Revenues 4 745 4 263 4 418 4 234 4 222 4 033 4 097 3 941 3 991 4 009 3 448 Q3 revenues in line with Q3 2014 • KM revenues in line with recent quarters, up 7 % year to date compared to 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 • High activity level in KDS, revenues on par with 2013
Slide 4: Financial Status Q3 - EBITDA
FINANCIAL STATUS Q3 - EBITDA 611 614 545 500 513 518 486 446 455 EBITDA down 32 % from a strong Q3 386 419 2014 Margin 10,5 % • Increased R&D efforts in KM and KPS, preparing for the next growth curve Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2013 2014 2015 • Slightly changed project mix in KM, including mor
Slide 5: Financial Status Q3 - Orders
FINANCIAL STATUS Q3 - Orders NEW 8 565 KM 2 385 ORDERS 5 714 KDS 832 4 541 4 970 New orders: 3 885 3 773 3 688 3 697 3 993 3 277 3 388 3 388 KPS 142 KOGT 80 Other -51 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2013 2014 2015 21 096 20 580 21 020 22 033 21 439 21 059 2015 19 344 18 % 16 733 16 398 16 711 15 68
Slide 6: Financial Status Q3 - Cash flow
FINANCIAL STATUS Q3 - Cash flow Q2 2015 419 Negative cash flow in Q3, MNOK 727 1 074 95 23 • Substantial prepayments received in 2014 2 908 2 181 • Large fluctuations in working capital, but within a normal range Cash IB EBITDA Change in other Investments Net changes in Cash UB operating related fin
Slide 7: Financial Status Q3 - Year to date
FINANCIAL STATUS Q3 - Year to date Revenues EBITDA 12 195 12 465 11 578 1 531 1 515 1 291 2013 2014 2015 2013 2014 2015 New 17 556 Backlog orders 20 580 21 059 12 351 11 346 16 711 2013 2014 2015 2013 2014 2015 © KONGSBERG - All rights reserved 30.10.2015 WORLD CLASS - through people, technology and
Slide 8: Business Area Status
BUSINESS AREA STATUS © KONGSBERG - All rights reserved Page 8
Slide 9: Kongsberg Maritime
KONGSBERG MARITIME REVENUES IN LINE WITH • Q3 revenues in line with recent quarters, up 7 % year to RECENT QUARTERS date compared to 2014 • Lower EBITDA-margin reflecting increased product development efforts, and a somewhat changed project mix LOWER DEMAND WITHIN • Continued diversified order intak
Slide 10: Kongsberg Defence Systems
KONGSBERG DEFENCE SYSTEMS GOOD PERFORMANCE, • Revenues in line with Q3 2014 STRONG MARGINS • Strong 14.4 % EBITDA margin • BNOK 9.2 in order backlog ensures good visibility ENTERING INTERNATIONAL • Contract with Avinor signed in Q3 for remote towers, AVIATION WITH REMOTE value MNOK 400 Q3 2015 TOWER
Slide 11: Bringing Aviation into a New Era
See it at CMD 2015! BRINGING AVIATION INTO A NEW ERA • Applying core technologies to develop an advanced tower solution for civil aviation • Using advanced camera and electro-optical technology and real time network developed for defence applications • 15 Norwegian airports to be controlled from one
Slide 12: Remote Tower video
Remote Tower video © KONGSBERG - All rights reserved 29.10.2015 WORLD CLASS - through people, technology and dedication Page 12
Slide 13: Kongsberg Protech Systems
KONGSBERG PROTECH SYSTEMS STEADY REVENUE LEVEL, • Revenues driven by life-cycle business, continues LOW EBITDA to be a dominating portion of revenues in 2015 • Continued significant marketing and R&D efforts SOLID ORDER BACKLOG • Good revenue visibility next two years, BNOK 1,7 secured for delivery
Slide 14: Kongsberg Oil & Gas Technologies
KONGSBERG OIL & GAS TECHNOLOGIES WEAK PERFORMANCE, MAJOR • Revenues down 39 % compared to Q3 2014 CAPACITY ADJUSTMENTS • Negative underlying EBITDA • Polarled project successfully completed in Q3 • Adjusting capacity to meet challenging market • Management changes – Egil Haugsdal appointed President
Slide 15: Capital Markets Day 2015
CAPITAL MARKETS DAY 2015 Date: 26 November 2015 Place: Kongsberg, Norway • Get a deeper knowledge of KONGSBERG – Business model and ambitions – Market update – Opportunities ahead – Technology and innovation • Meet with and listen to KONGSBERG’s top management • More information and registration on
Slide 16: 2015 Outlook
2015 OUTLOOK KONGSBERG MARITIME • High activity level so far in 2015, expected to continue in Q4 • Slower contracting of new vessels in the offshore market, good outlook for advanced merchant and subsea KONGSBERG DEFENCE SYSTEMS • Strong position in selected niches and several important opportunitie
Slide 17: Disclaimer
DISCLAIMER This presentation contains certain forward-looking information and statements. Such forward-looking information and statements are based on the current, estimates and projections of the Company or assumptions based on information currently available to the Company. Such forward-looking in
Slide 18: World Class
WORLD CLASS - THROUGH PEOPLE, TECHNOLOGY AND DEDICATION © KONGSBERG - All rights reserved