Akva Group Asa · OSL:AKVA
Akva Group Asa — Q3 2007 Earnings Presentation
14 slides from Akva Group Asa's earnings presentation, Nov 7, 2007
Slide 1: 3Q 2007 presentation
The global leader in aquaculture technology 3Q 2007 presentation 7 November 2007 Knut Molaug, CEO Rolf Andersen, CFO Pro-forma ● Please note that unless otherwise stated all comments in this presentation are based on pro-forma numbers as if the merger between AKVAsmart, Helgeland Plast and the Wavem
Slide 2: Agenda / AKVA group in brief
Agenda Background & highlights 3Q 2007 Financial review Outlook Q&A 3 AKVA group in brief Software systems Cage systems AKVA group facts and services • The leading aquaculture technology supplier • The only player with global presence • The largest supplier to the aquaculture industry • High growth
Slide 3: 3Q highlights
3Q highlights ● Operating revenue in 3Q was 237 MNOK and the period’s EBITDA was 22.0 MNOK. The revenue year to date was 695 MNOK and the EBITDA was 62.7 MNOK. ● The order backlog was 326 MNOK at the end of 3Q, an increase of 142 MNOK compared to same time last year. ● The outlook for the remainder
Slide 4: 3Q financials – P&L
3Q financials – P&L P&L 2007 (Pro-forma) 3Q 3Q YTD YTD Year (MNOK) 2007 2006 2007 2006 2006 Operating revenues 236.7 174.3 695.4 507.5 703.8 Operating costs excl. depreciation -214.6 -155.5 -632.7 -440.4 -616.4 EBITDA 22.0 18.9 62.8 67.1 87.4 Depreciation & Amortisation -6.1 -5.4 -17.2 -15.8 -21.1 E
Slide 5: Business areas - OPTECH and INTECH
Business areas - OPTECH OPTECH OPTECH (MNOK) Pro-forma Farm operations Revenues technology 2006 --- 2007 Feed systems 1Q 2Q 3Q 4Q Cameras 16,2 11,5 9,0 9,4 12,1 10,7 EBITDA Sensors Software ● 3Q revenues were up 14% compared to 3Q 2006 Etc. ● The revenue growth was limited by capacity constraints of
Slide 6: Business segments
Business segments YTD 2007 Revenues YTD 2007 Profits 11 Market segments Geographic segments • Norway and Chile – dominating segments AKVA group revenues within other species 90 80 70 CAGR 2003-2006 • Growth in a number of 60 ~68% regions • More than 100% NOK m. 50 40 30 20 10 growth in 2007 0 2003 2
Slide 7: Balance sheet
Balance sheet Balance sheet (legal) 30.06 31.12 (MNOK) 2007 2006 Intangible fixed assets 204.8 148.4 Tangible fixed assets 32.2 22.3 Long term financial assets 0.5 1.4 Fixed assets 237.6 172.2 Stock 102.9 96.3 Receivables 159.9 114.0 Cash and bank deposits 136.7 141.5 Current assets 399.5 351.8 Tota
Slide 8: Strong financial position / Cash flow statement
Strong financial position Equity (%) ● Equity: Strong equity position Cash balance (MNOK) ● Cash Position: Very strong cash position Available cash 182 MNOK. 15 Cash flow statement Cash flow statement 2007* 2006 2006 (KNOK) 3Q 3Q Total Net cash flow from operational activities 21 746 -26 508 1
Slide 9: Order backlog and inflow
Order backlog and inflow 2006 Order backlog and inflow per quarter (MNOK) na na. na. ● Order backlog is up 142 MNOK compared to 3Q 2006 ● Lower inflow than in 2Q due to summer holidays in the northern hemisphere. ● Good order inflow from Norwegian and Chilean market so far in 4Q ● Prospects mass inc
Slide 10: Outlook
Outlook ● Favourable market conditions in the salmon markets Norway – Market growth continues, large investments indicated by customers over the next years Chile – still growing but uncertainties (see below) UK and Canada – Sound development In all markets customers are restructuring and inv
Slide 11: Appendix
Background & highlights 3Q 2007 Financial review Outlook Q&A 21 Appendix 22 11
Slide 12: Legal accounts – Business segments and cash flow
Legal accounts - P&L Hovedtall fra regnskapet Main figures from financial accounts *(Includes Maritech from 1 May 2007) RESULTATREGNSKAP / INCOME STATEMENT 2007 2006 2007 2006 2006 (NOK 1 000) 3Q 3Q YTD YTD Total DRIFTSINNTEKTER / OPERATING REVENUES 236 911 81 225 623 894 204 338 355 961 Driftskostn
Slide 13: Vision statement and strategy
Vision statement and strategy “The global leader in aquaculture technology” ● Remain a top-tier growth company ● Strengthen the profitability of the core business ● Lead the technological development ● Attract, motivate and retain competent employees ● Lead the consolidation of the global aquacultur
Slide 14: Group organisation / AKVA group – global presence
Group organisation Knut Molaug (CEO) Rolf Andersen Biz. Development (CFO) team IT Steering Technology & product Committee development council Trond Severinsen Jone Gjerde Morten Nærland Patrick Dempster (CMO) (COO) (GM Chile) (GM North America) Research & Sales & OPTECH OPTECH Development Market org