Kongsberg Gruppen Asa · OSL:KOG
Kongsberg Gruppen Asa — Q2 2014 Earnings Presentation
18 slides from Kongsberg Gruppen Asa's earnings presentation, Aug 14, 2014
Slide 1: Investor presentation 2nd Quarter 2014
Investor presentation 2nd Quarter 2014 | 14th August 2014 . KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authoris
Slide 2: Highlights
Highlights • Strong order intake – BNOK 5.7 • Book/bill : 1.34 • Record high order backlog – BNOK 21.1 • KM continues with very strong performance • 12 % revenue growth vs Q2-13, strong margins and high order intake • KDS has a strong quarter and important contract wins • KPS has good order intake b
Slide 3: Financial status Q2 - 2014: Operating revenues
Financial status Q2 - 2014 Operating revenues 5 000 4 500 4 000 • Q2 revenues MNOK 4,263 3 500 – 4 % growth from Q2 2013 3 000 2 500 • Strong 12 % revenue growth in 2 000 KM vs Q2-13 1 500 1 000 • 14 % underlying revenue 500 growth in KDS 0 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14
Slide 4: Financial status Q2 - 2014: EBITDA
Financial status Q2 - 2014 EBITDA 700 • Q2 strongly influenced by KM 600 and KDS 500 • Improved margins in KM 400 • Improvement in KDS due to 300 JSM and solid project 200 execution 100 • Margins in KPS coming down 0 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 • Negative EBITDA in KO
Slide 5: Financial status H1 - 2014
Financial status H1 - 2014 Operating revenues and EBITDA – per Segment • H1 revenues MNOK 8,204 9 000 8 000 799 12 – 0.9 % growth total growth 7 000 • adjusted for K-SAT 2.4 % 6 000 2 175 – 14.9 % growth in KM 5 000 518 – 6.0 % growth in KDS 4 000 8 204 3 000 – -44.8 % in KPS 4 724 2 000 – 0.3 % in
Slide 6: Financial status Q2 2014: Order backlog and new orders
Financial status Q2 2014 Quarterly trends in orders Backlog of orders 33% 25 000 35% 20 000 15 000 32% 10 000 2014 2015 2016=> After sales and framework agreements not converted into 5 000 delivery contracts are not included in the backlog 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2012 2013 2014 New ord
Slide 7: Financial status Q2 2014: Cash Flow
Financial status Q2 2014 Cash Flow 5400 5100 4800 455 86 163 4500 630 4200 3900 419 3600 3300 3000 2700 2400 4 618 2100 1800 3 775 1500 1200 900 600 300 0 Cash IB EBITDA Q2 Change in other Investments Dividend paid Net changes in Cash UB operating related items financing activities and exchange rate
Slide 8: Business Area Status
KONGSBERG 20) Business Area Status
Slide 9: Kongsberg Maritime
Kongsberg Maritime Record high order - Above BNOK 3 offshore order intake backlog – strong in H1 2014 order intake in all - Merchant marine YTD order intake up 90 % year-on-year segments - Subsea YTD order intake up 45 % year-on-year KM has high level of activity, a record high order backlog , a tru
Slide 10: Kongsberg Maritime: selected vessels
Kongsberg Maritime Selected vessels that will get KONGSBERG onboard . 13.08.2014 WORLD CLASS - through people, technology and dedication Page 10
Slide 11: Kongsberg Defence Systems
Kongsberg Defence Systems Delivery programs - NASAMS to Finland and Coastal on track and JSM Artillery to Poland progressing as phase III secured planned - Delivery of NSM to Norway on track - JSM phase III development contract secured KDS is in the final phase of several major Several ongoing - Sig
Slide 12: Kongsberg Defence Systems: Missiles
Kongsberg Defence Systems Missiles – an important contributor in the past and in the future…. Penguin - World’s leading anti-ship missile on naval 1960 helicopters - Can be launched from ships and helicopters - Sold to 9 countries - Last contract so far in November 2013 NSM - The only fifth genera
Slide 13: Kongsberg Protech Systems
Kongsberg Protech Systems Good order intake - Second highest quarterly order but lower revenues intake since 2011 mainly driven by and declining CROWS - Deliveries in 2014 are on contracts margins in 2014 signed under a new price regime - Deliveries of new systems declining A leading global market b
Slide 14: Kongsberg Oil & Gas Technologies
Kongsberg Oil & Gas Technologies Challenging start - Overcapacity due to project to the year – cancellations and postponements actions taken - Recovery actions already initiated in early Q1 - Improve competitiveness, reduce costs KOGT is a business - Actions will result in improved H2 area under dev
Slide 15: Talents look to KONGSBERG!
Talents look to KONGSBERG! • 1,350 applications for 150 summer jobs • Specific projects from start to finish – Creating technology to be utilized in existing or future products and services • A win-win for KONGSBERG and the students • A contribution from KONGSBERG to reduce the student drop-out rati
Slide 16: 2014 Outlook
2014 Outlook • Kongsberg Maritime – Continued high level of activity – The merchant marine market has improved • Kongsberg Defence Systems – Several important long-term opportunities – Strong backlog provides a robust business platform • Kongsberg Protech Systems – Leading global position – Activiti
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: kongsberg.com
kongsberg.com . KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in part, must in