Inin Group As · OSL:ININ
Inin Group As — Investor Presentation (November 2022)
58 slides from Inin Group As's investor presentation, Nov 30, 2022
Slide 1: Building strong platforms within infrastructure- and industry services in the Nordics
Building strong platforms within infrastructure- and industry services in the Nordics Inin Group AS - November 2022
Slide 2: Agenda
Agenda • Inin Group strategy • Infra: Nordic Infrastructure Group • Infra: Hadeland Electro • TIC: Inspekt • Technology: Elop Technology • Summary 2
Slide 3: Agenda
Agenda • Inin Group strategy • Infra: Nordic Infrastructure Group • Infra: Hadeland Electro • TIC: Inspekt • Technology: Elop Technology • Summary 3
Slide 4: Inin translates to mandate in Japanese
Inin translates to mandate …for us, Inin has multiple meanings, such as: in Japanese… • Investments in infrastructure and inspection • Investments in industrial services niches • Investing in individuals • Investing in innovation It is our mandate to grow, challenge, build and create value 4
Slide 5: Our mission
Our mission • Inin is a listed industrial owner with To create value by identifying • a vertical-focused buy-and-build investment opportunities within strategy… Nordic infrastructure and industry • …within infrastructure and industry services niches, working in close services niches in the Nordics c
Slide 6: Inin ensures value creation through acquisitions and organic growth initiatives
Inin ensures value creation through a combination of well- executed acquisitions and successful organic growth initiatives Acquisition categories Principles • Starting point for consolidating a • Acquisition of majority – not 100% - encourage market or niche that has been management/entrepreneurs to
Slide 7: Today, we are active within three segments
Today, we are active within three segments Inspection: Infrastructure: Testing, Inspection and Technology1: Rail focused construction, Certification of Inspection hardware & competence and service- infrastructure and software supply industrial assets 1: Inin Group has initiated a structured process
Slide 8: Our infrastructure platform is in place; Inspekt in dialogue with platform candidates
Our infrastructure platform is in place; Inspekt in dialogue with platform candidates 65%1 100% 65%1 100% Adjacency Inspekt AB Electrotechnical solutions -Undisclosed- for infra-industry including Construction Inspection tools & inspection of high voltage software grids Complimentary Complimentary T
Slide 9: Our ambition is to expand into other attractive verticals
Our ambition is to expand into other attractive verticals within infrastructure- and industry services Inspection: Infrastructure: Testing, Inspection and Technology: Future segment Future segment Rail focused construction, Certification of Inspection hardware & 1 2 competence and service- infrastru
Slide 10: With our existing portfolio, we target to surpass 500 MNOK in 2023, and 1,5B in 2026
Strictly confidential With our existing portfolio, we target to surpass 500 MNOK in 2023, and 1,5B in 2026 ,EBIT margin target of +10%... Revenue (BNOK) Existing portfolio 1,5 1,5 1,0 0,5 0,5 0,2 0,0 2022 2023 2024 2025 2026 EBIT-% -5% 11% Note: Expected annual pro-forma figures 1: Inin Group has in
Slide 11: Evaluating options to enter adjacent infrastructure- and industry service verticals
Strictly confidential … and we are evaluating options to enter into adjacent infrastructure- and industry service verticals Revenue (BNOK) Existing portfolio Adjacencies 3,5 3,0 3,0 2,5 2,0 1,5 1,0 0,5 0,2 0,5 0,0 2022 2023 2024 2025 2026 EBIT-% -5% 11% Note: Expected annual pro-forma figures 1: Ini
Slide 12: Agenda
Agenda • Inin Group strategy • Infra: Nordic Infrastructure Group • Infra: Hadeland Electro • TIC: Inspekt • Technology: Elop Technology • Summary 12
Slide 13: Nordic Infrastructure Group
Nordic Infrastructure Group
Slide 14: Selskapsstruktur
Selskapsstruktur Nordic Infrastructure Group Konvei > jobbreiser & Railpro R Railpro FE konvei EB $) jobbreiser S&S RailSupply S RailSupply
Slide 15: Team NI Group
Team NI Group Gjermund Sogn Birger Bjørnstad Øyvind Roland Persson CEO NI Group CFO NI Group | ININ HSEQ NI Group Østen Lybeck Håvard V. Amundsen Kenneth Poulsen Kjetil Nygaard CEO Konvei | Dep. Mngr. CEO Rail Supply AS CEO Rail Production AS CEO Jobbreiser AS Railpro Lukas Larsson Egon Reichl Nickl
Slide 16: Rail Supply
Rail Supply
Slide 17: Operations/business
Operations/business • Rail Supply er en leverandør av forbruksmateriell, verktøy og utstyr for produksjon og kontroll innen produksjon av jernbane, sporvei og trikk • Leverandør av sveisemateriell, og verktøy, fra Goldschmidt Gmbh • Generalagentur for Furrer & Frey AG, en systemleverandør av kontakt
Slide 18: Market, Outlook & ambition
Market, Outlook & ambition • Markedet opplever en "all time high". Det • Markedet i 2022 har vært svært bra. Bane er mange prosjekter i gang, og flere som NOR planlegger tilsvarende marked de er i anbudsfase, der man etterspør neste 4 år. systemene fra Furrer + Frey. • Vi har et stort potensiale i ø
Slide 19: Rail Production
Rail Production
Slide 20: Operations/business
Operations/business • Signaltjenester Railpro er en totalleverandør av • Elektroarbeider entreprenørtjenester • Kontaktledningsarbeider Vi er en servicebedrift med • Underentrepriser hovedfokus på • Utleie av personell • Hovedentreprenør Våre kunder
Slide 21: Market, Outlook & ambition
Marked Bane NOR sine offentliggjorte prosjektplaner og innfasing Market, Outlook & av ny teknologi gir meget gode markedsmuligheter i mange år fremover. ambition Markedet for signaltjenester frem til 2032 er på 27 mrd. NOK Det er ingen vesentlige endringer i jernbanetildelinger i Ambisjoner statsbud
Slide 22: Jobbreiser by Connect-IN
>) jobbreiser by Connect-IN
Slide 23: Operations/business
Operations/business • Screener markedet for leverandører Skreddersydd prosjektovernatting • Forhandler gode innkjøpsavtaler på de fra A - Å avgjørende faktorene • Forvaltning i prosjektets levetid • Fasiliteter/tilrettelegger med kurs og konferanselokaler Professional Conference Organiser • Organise
Slide 24: Market, Outlook & ambition
Market, Outlook & ambition 2022 2022: • Markedet for prosjektovernatting og reiseservice, et • Markedet er tilbake etter Covid-19 sterkt voksende segment • Konferanser & event har tatt seg opp gjennom året og • Markedet for PCO-tjenester er høyt og belegget på de med stor økning til julebordsesongen
Slide 25: Konvei
EF: Konvel pf
Slide 26: Produktgrupper
Produktgrupper Læringsarenaer Kompetanseforvaltning Ressursstyring Konsulenter Organisasjonstilpassede Forvaltning av kompetanseregister, Sørg for at rett ressurs benyttes Prosjektering, Veileder for læring, kompetanseløp. Digital læring. og kartlegging av ansattes behov mest kosteffektivt for Rådgi
Slide 27: Market, Outlook & ambition
Market, Outlook & Marked ambition 2022 • Konsulentmarkedet er i vekst, og etterspørselen etter vår kompetanse er Ambisjon økende • Kursmarkedet vokser med eksisterende og nye infrastrukturprosjekter innen Vi skal være det foretrukne konsulent jernbane og kompetansemiljøet for infrastrukturprosjekter
Slide 28: Summary Nordic Infrastructure Group
Nordic Infrastructure Group Sunray
Slide 29: Nordic Infrastructure Group Market, Outlook & ambition
Nordic 350 Infrastructure 300 Group 250 Market, Outlook & ambition 200 • Ordrebøkene er solide og vi forventer fortsatt ekspansiv vekst for 2023 150 300 • Resultatgraden er stabil og skal sikre bærekraftig vekst 100 • NI Group vil levere på visjon; 150 50 Nordens foretrukne samarbeidspartner i 70 in
Slide 30: Agenda
Agenda • Inin Group strategy • Infra: Nordic Infrastructure Group • Infra: Hadeland Electro • TIC: Inspekt • Technology: Elop Technology • Summary 30
Slide 31: Hadeland Elektro AS
HADELAND ELEKTRO AS
Slide 32: Hadeland Elektro – Om oss
Hadeland Elektro – Om oss Kontoradresse på Gran på Hadeland 16 ansatte Omsetning 2022 - 50MNOK Energidistribusjon, netteier Jernbane og sporvei Infrastruktur veg og V/A Næring og industri Private kunder Inspeksjonstjenester netteiere, termografering
Slide 33: Tjenesteområder – Jernbane/Sporvei
Tjenesteområder – Jernbane/Sporvei - Sporvekselvarme - Nybygging, ombygging av 750V banestrømsforsyning trikk&T-bane - Nybygging, ombygging av kontrollanlegg - Skjøting og endeavslutninger 15kV KL-anlegg - Returkrets og impedans-anlegg - Jordingsanlegg
Slide 34: Tjenesteområder – Stasjonsanlegg
Tjenesteområder – Stasjonsanlegg - Nybygging, ombygging av 11-36kV anlegg - Nybygging, ombygging av 750V likestrømsanlegg (likeretterstasjon) - Nybygging, ombygging av kontrollanlegg - Nybygging, ombygging av kabelanlegg (høy/lavspent)
Slide 35: Tjenesteområder – Energi
Tjenesteområder – Energi - Nybygging, ombygging av 11-36kV anlegg - Nybygging, ombygging av 750V likestrømsanlegg (likeretterstasjon) - Nybygging, ombygging av kontrollanlegg - Nybygging, ombygging av kabelanlegg (høy/lavspent)
Slide 36: Tjenesteområder – Infrastruktur Vei, Vann & Avløp
Tjenesteområder – Infrastruktur Vei, Vann & Avløp - Bygging og installasjon av veilysanlegg - Bygging og installasjon flombelysning idrettsanlegg - Ladeanlegg bil og buss - VA-anlegg
Slide 37: Tjenesteområder – Termografering
Tjenesteområder – Termografering - Termografering høyspentlinjer 11-400kV - Visuell befaring høyspentlinjer 11-400kV - Sertifiserte Level-1 termografører - NEMKO-godkjent termografør høy- og lavspentanlegg
Slide 38: Hadeland Elektro – Ambisjoner og muligheter
Hadeland Elektro – Ambisjoner og muligheter - Elektrifisering av transport og industri Store investeringer i energisektoren - Energieffektivisering Økt forespørsel om effektivisering og strømproduksjon - Jernbane og Sporvei Stor satsning på bane og signal
Slide 39: Hadeland Elektro – Veien videre
Hadeland Elektro – Veien videre 1. Identifisere vekstmuligheter 2. Synergier i gruppen 3. Kompetanseheving
Slide 40: Agenda
Agenda • Inin Group strategy • Infra: Nordic Infrastructure Group • Infra: Hadeland Electro • TIC: Inspekt • Technology: Elop Technology • Summary 40
Slide 41: The challenger in the Nordic TIC market
The challenger in the Nordic TIC market Niklas Persson CEO 2022-11-30
Slide 42: About Inspekt / Our goals
About Inspekt • Inspekt operates within testing, inspection, certification (TIC) and technical consultation • Inspekt will provide its clients and stakeholders an entrepreneurial approach where, customer centricity, efficiency and innovation are of highest importance • The company’s clients will rec
Slide 43: Together almost 50 years of experience from the TIC & QA/QC business
Together almost 50 years of experience from the TIC & QA/QC business 1995 1999 2005 2011 2015 2021 2022 Starts as an NDT Moving over to ÅF- Joining Siemens Joining DEKRA as Joining Elop Moving over to the Joining FORCE Engineer at Kontroll AB, working Industrial Vice President Technology as the new
Slide 44: Huge global market, local market SEK +30B and extremely fragmented
Huge global market, our local market amounts to SEK +30B and is extremely fragmented USD Billion CAGR SEK Billion +5% +5% 400 60 56 349 38 Certification 50 10 Finland • Industrial and infrastructure project 300 119 Inspection 40 34 17 Sweden • Digitalization 214 200 32 30 6 64 11 • New and more regu
Slide 45: Example of opportunities
Example of opportunities 2-3% 45
Slide 46: Evaluating attractiveness
Evaluating attractiveness NDT Pressure Lift Concrete Consulting Remote inspection Certifications Competition Medium Medium Medium Medium High Medium Medium Profitability High High High High Medium High High Market growth Medium Low Low High High High Medium Regulatory requirements / High High High L
Slide 47: Inspekt implements a buy-and-build strategy with focus on add-ons
Inspekt implements a buy-and-build strategy with focus on add-ons Acquisition categories Principles • Acquisition of majority – not 100% - • Starting point for building, encourage mgmt./entrepreneurs to stay on accreditation important as co-owners for motivation and retention Platform • Can be a 100
Slide 48: We plan to mainly grow by opening branch offices
We plan to mainly grow by opening branch offices – utilizing platform accreditation Illustrative • Platform companies have existing accreditations e.g.: Platform • non-destructive testing, Organic expansion • pressure equipment inspection, • lifting equipment inspection Add-on • The accreditations c
Slide 49: Typical clients and projects
Typical clients and projects • Periodic Inspections (pressure, lifting equipment, remote). • NDT and Inspections during maintenance shutdowns and repair work(welding). • Consultancy services related to quality, risk analyze & asset integrity 50
Slide 50: Agenda
Agenda • Inin Group strategy • Infra: Nordic Infrastructure Group • Infra: Hadeland Electro • TIC: Inspekt • Technology: Elop Technology • Summary 51
Slide 51: Elop Technology AS
elop Elop Technology AS
Slide 52: Latest development in Elop Technology
Latest development in Elop Technology • Restructured company • Looked at what works and what does not • Monitoring everything in detail – use of scanner, development, spendings • Cost reduction • Increase in use of scanner and cloud
Slide 53: Confirmed applications – large horizontal scans
Confirmed applications – large horizontal scans • Demanding offshore structures “The “The knowledge gainedfrom knowledge gained fromthethe operation operation waswas veryvery good. good. We could We could clearly clearly see thesee the ducts tendon tendon ducts under theunder heavy the heavy reinfor
Slide 54: Production
Production • Hardware production moving to Pune, India. • Focus on decreasing production cost. • Already at 20% reduction in production cost. • Expecting another 30% in 2024.
Slide 55: Product Market Fit
Product Market Fit • Customer driven feature development (LEAN). • New software facilitates scan of large installations. • New tools for analysis of large areas. • R&D – image quality on difficult surfaces/concrete types • New signal processing algorithm - ready. • New elastomer wheels - ready. • De
Slide 56: Market, Outlook & ambition
Market, 0utlook & ambition • New standards and requirements • Italy leading the way • Recent initiatives in Scandinavian countries • Projects and collaboration with large industry actors • Continue developing partner program + Product awareness • Growing interest from large markets, Dubai, India, Ca
Slide 57: Agenda
Agenda • Inin Group strategy • Infra: Nordic Infrastructure Group • Infra: Hadeland Electro • TIC: Inspekt • Technology: Elop Technology • Summary 58
Slide 58: In summary
In summary ✓ Access to profitable & growing infrastructure services niches ✓ Market consolidator in fragmented verticals with potential for growth and development ✓ Access to a flexible and disruptive Nordic inspection player, challenging the incumbents ✓ Strong balance sheet with cash and debt capa
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