Akva Group Asa · OSL:AKVA

Akva Group Asa — Q3 2011 Earnings Presentation

20 slides from Akva Group Asa's earnings presentation, Oct 28, 2011

  1. Slide 1: Q3 2011 Presentation

    Q3 2011 Presentation Oslo, October 28, 2011 Trond Williksen, CEO 1

  2. Slide 2: Agenda

    Agenda  Highlights Q3 2011  Financials Q3 2011  Outlooks Q&A 2

  3. Slide 3: Highlights

    Highlights 3

  4. Slide 4: Increased profitability

    Increased profitability ● Operating revenues in Q3 was 226.7 MNOK compared to 212.3 in Q3 last year – an increase of 6.8% ● EBITDA in Q3 was 22.0 MNOK compared to 10.2 MNOK in Q3 last year - up 11.8 MNOK ● EBIT in Q3 was 13.8 MNOK versus 2.1 in Q3 last year - up 11.7 MNOK ● Order backlog at the end

  5. Slide 5: Q3 2011 Financials

    Q3 2011 Financials 5

  6. Slide 6: Q3 Financials – P&L group

    Q3 Financials – P&L group P&L 2011 2011 2010 2011 2010 2010 ● Operating revenues in Q3 226.7 (MNOK) Q3 Q3 YTD YTD Total MNOK vs 212.3 MNOK last year OPERATING REVENUES 226,7 212,3 702,6 546,6 742,5 ● Growth in Chile of over 300% Operating costs excluding compared to Q3 2010 depreciations 204,8 202,1

  7. Slide 7: Q3 P&L segments - Hardware

    Q3 P&L segments - Hardware P&L 2011 2011 2010 2011 2010 2010 (MNOK) Q3 Q3 YTD YTD Total HARDWARE OPERATING REVENUES 190,6 173,8 573,9 428,5 574,5 Operating costs excluding 167,7 163,3 515,4 414,4 557,6 depreciations EBITDA 22,9 10,5 58,6 14,1 16,8 Depreciation 6,2 5,3 17,8 14,5 19,7 EBIT 16,7 5,2 40

  8. Slide 8: Q3 P&L segments - Software

    3 Q P&L segments - Software P&L 2011 2011 2010 2011 2010 2010 (MNOK) Q3 Q3 YTD YTD Total SOFTWARE OPERATING REVENUES 25,1 24,7 82,4 76,3 106,1 Operating costs excluding 21,5 21,1 72,6 69,7 97,1 depreciations EBITDA 3,6 3,6 9,8 6,6 9,0 Depreciation 1,7 2,4 5,2 7,7 10,0 EBIT 2,0 1,2 4,7 -1,1 -1,0 ● St

  9. Slide 9: Q3 P&L segments - RAS

    Q3 P&L segments - RAS P&L 2011 2011 2010 2011 2010 2010 (MNOK) Q3 Q3 YTD YTD Total RAS OPERATING REVENUES 11,0 13,8 46,2 41,8 62,0 Operating costs excluding 15,6 17,7 55,9 63,7 97,7 depreciations EBITDA -4,6 -3,9 -9,7 -21,8 -35,8 Depreciation 0,3 0,5 1,0 1,0 1,3 EBIT -4,9 -4,4 -10,6 -22,8 -37,0 ● RA

  10. Slide 10: Market segments

    Market segments Geographic segments Q3 2011 Iceland Other 8%  Relative stable between regions 4% from Q2 to Q3 Medit. 7% Canada 3% UK  Chile growing importance at the 8% Norway expense of the other regions 46 % Chile  YTD Q3 2010 Chile represented 9% 24 % Product Group Segments Q3 2011 RAS SW6 %

  11. Slide 11: Order backlog and inflow

    Order backlog and inflow Order backlog (MNOK) MNOK  The order backlog was 260 MNOK 400 348 342 350 316 at the end of 3Q. 305 300 270 279 253 263 260 260 250 200 203 204 183 200 150  A slight reduction from Q3 2010 100 50 0 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 Order

  12. Slide 12: New markets

    New markets AKVA group revenues within other species 140 MNOK 120 CAGR 2003-2010 100 ~43% 80 60 40 20 0 2003 2004 2005 2006 2007 2008 2009 2010 2011* * Sales and order backlog for delivery in 2011 per Q3 2011.

  13. Slide 13: Balance Sheet

    Balance Sheet BALANCE SHEET 2011 2010 2010 (MNOK) 30.09. 30.09. 31.12. Intangible fixed assets 205,4 210,6 215,9 Fixed assets 39,6 37,9 41,6 Long-term financ ial assets 23,8 29,8 39,4 FIXED ASSETS 268,8 278,3 297,0 Stoc k 178,8 139,1 157,7 Trade rec eivables 216,3 175,0 177,8 Other rec eivables 39,9

  14. Slide 14: Financial position

    Financial position Equity (%) 60 % 50 % 45 % 45 % 46 % Equity: 43,8 % 40 % 42 % 39 % 34 % 35 % 33 % 33 % 41,3 %  Equity of 43,8% end Q3 30 % 20 % 10 % 0% 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 Cash balance (MNOK) MNOK 80 Cash Position: 70 56 67  Total available cash was 85 MNOK end

  15. Slide 15: Cash flow statement

    Cash flow statement CASH FLOW STATEMENT 2011 2010 2011 2010 2010 (NOK 1 000) Q3 Q3 YTD YTD Total Net cash flow from operational activities -47 590 4 340 -38 765 -327 -793 Net cash flow from investment activities -4 990 -4 633 -17 733 -13 534 -23 175 Net cash flow from financial activities 26 869 -4

  16. Slide 16: Outlooks

    Outlooks 16

  17. Slide 17: Outlooks

    Outlooks ● Uncertainty in regards to effects of low salmon prices especially in the Norwegian market going forward ● Q4 normally has lower activity due to seasonality, especially in the Norwegian cage segment ● The Chilean market developed strongly also in 3Q and business volume in 2011 will be well

  18. Slide 18: New barge design and EcoNet presented at Aqua NOR 2011

    New barge design and EcoNet presented at Aqua NOR 2011 18

  19. Slide 19: Q&A

    Q&A 19

  20. Slide 20: AKVA group

    XO AKVAGRouP

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