Abl Group Asa · OSL:ABL
Abl Group Asa — Aqualis — DNB Investor Conference 2019
26 slides from Abl Group Asa's conference presentation, Apr 4, 2019
Slide 1: DNB Investor Conference
DNB Investor Conference April 4, 2019 aqualis.no
Slide 2: Disclaimer
Disclaimer ▪ This Presentation has been produced by Aqualis ASA (the “Company” or “Aqualis ”) solely for use at the presentation to investors and other stake holders and may not be reproduced or redistributed, in whole or in part, to any other person. This presentation is strictly confidential, has
Slide 3: Aqualis at a glance – A leading global energy consultancy
Aqualis at a glance – A leading global energy consultancy OFFSHORE OIL & GAS • Global presence with established market position • Marine consultancy and engineering services • Clients: Offshore asset owners, oil companies, EPC contractors, financial institutions, insurance companies, investors OFFSH
Slide 4: Revenue growth led by offshore renewables
2018 Highlights Growth continues - Led by offshore renewables • Revenues of USD 36.2m in 2018, up 16% Revenue growth led by offshore renewables • Offshore renewable revenues up 37% • Oil & gas revenues up 13% • Gaining market share in a flat O&G market Strengthened market position and • New offi
Slide 5: Expansion of Global Footprint 2018/19
Expansion of Global Footprint 2018/19 Aqualis has opened 3 new offices in 2018/19 • Perth, Western Australia - to support oil & gas and renewables developments • Taipei, Taiwan – to support offshore renewables • Boston, Mass., USA – to support offshore renewables 5
Slide 6: Aqualis Offshore services
Offshore Oil & Gas - Service offering covering the life cycle of offshore assets Marine project / asset life cycle Engineering / Project Hook-up and Asset De- Project initiation Construction design phase procurement commissioning management commissioning Engineering (niche-focus): Construction yard
Slide 7: Blue Chip Client base
Offshore Oil & Gas – Blue Chip Client base NOCs / IOCs Offshore contractors / shipyards Rig / vessel owners Underwriters / financial institutions 7
Slide 8: Rig market development
Rig market development Working offshore rig count Rig contracting activity 800 180 700 160 600 140 # Units (Rigs under contract) # rig fixtures per quarter 120 500 100 400 80 300 60 200 40 100 20 - - 01-10 01-15 01-00 01-01 01-02 01-03 01-04 01-05 01-06 01-07 01-08 01-09 01-11 01-12 01-13 01-14 01-1
Slide 9: 2000th Jack Up Rig Move attendance
2000th Jack Up Rig Move attendance Aqualis Offshore attends of approximately 20% of the global jack up fleet during rig moves. Main areas of focus are: • India • Middle East – KSA / Qatar / UAE / Egypt • Asia Pacific – Malaysia / Thailand / Brunei • Mexico • North Sea Scopes of work include provisio
Slide 10: Bahrain LNG Terminal Project
Bahrain LNG Terminal Project – multi faceted loadout/marine installation operation completed • Loadout of the 7200 MT topside took place in Thailand onto a smaller installation “Giant 5” barge • Barge and topside piggy backed onto a large self propelled dry transportation HLV • Topside and installat
Slide 11: Egina FPSO Station Keeping
Egina FPSO Station Keeping • Samsung Heavy Industries was awarded the Engineering, Supply, Construction and Commissioning of the EGINA FPSO Unit. • As part of this scope SHI transported the FPSO from Geo-Je, South Korea to Lagos, Nigeria and later towed out to the EGINA field to hook-up the FPSO to
Slide 12: FPSO P-67 Dry Transportation China-Brazil
FPSO P-67 Dry Transportation China-Brazil ▪ MWS for the dry transportation of FPSO ▪ Largest ever cargo transported by a P-67 from China to Brasil and inshore Heavy Transport Vessel at 80,000 MT mooring at Rio de Janeiro. and 288m length 12
Slide 13: Wind Turbine Installation Vessel – Construction supervision
Wind Turbine Installation Vessel – Construction supervision ▪ Aqualis completed the construction supervision of Ouyang Offshore’s new-build self-elevating wind turbine installation vessel, OuYang 1, at Dayang Offshore Equipment yard in Jiangsu, China. The delivery ceremony was held in January 2019 ▪
Slide 14: GOM - MP261JP Platform Decommissioning Project
GOM - MP261JP Platform Decommissioning Project • Removal of jacket and Topside using Versabar’s VB 10000 twin truss crane 14
Slide 15: OWC Provides Advisory Services Across the Market
OWC Provides Advisory Services Across the Market Projects Offshore Wind Development, Engineering, Commercial, Developers Technical & Project Management Support over Whole Lifecycle Supply Chain Transactions Technical Due Diligence Advisory Investors, Financial and Business Regulatory Institutions In
Slide 16: Experience Snapshot In Some Segments
Experience Snapshot In Some Segments Geotech & engineering Of projects 27 GW 19 GW We have experience of soil conditions (50 projects) We have worked on many world wide. We also optimise, reduce projects world wide since 2011 costs and reduce uncertainty of substructure concepts Due Diligence Subsea
Slide 17: Global offshore wind market development
Global offshore wind market development Offshore wind capacity development Comments 100 000 • Industry analyst expect the global offshore wind market to grow at 17% compound 90 000 annual return from 2018 to 2025 80 000 • Strong growth both in Europe and in emerging 70 000 markets. Europe’s share of
Slide 18: Triton Knoll Offshore Wind Farm
Triton Knoll Offshore Wind Farm Triton Knoll offshore wind farm is a 90 x 9.5 MW Offshore Wind Farm of 860 MW in the UK. • OWC were contracted to provide specific specialist project management services for Innogy’s flagship offshore wind project • This award followed on from supporting Innogy (RWE)
Slide 19: Project Management Consultancy
Project Management Consultancy • The project: • Confidential Taiwan Offshore Wind project • c400 MW project • Circa EUR 2.3 BN of CAPEX • Jacket-foundation project in a highly seismic area • Client: Confidential • OWC Scope: • We are embedded into the project team – 16 roles including: EPC Director,
Slide 20: Offshore Wind Consultants – offshore wind focus
Offshore Wind Consultants – offshore wind focus Development in Revenues 1 (USDk) • OWC was established in 2011 7 000 • Initial focus on UK 6 000 market • Acquired by Aqualis 5 000 in July 2014 4 000 • Opened office in Germany (2015) 3 000 and Taiwan (2018) 2 000 • Assessing expansion 1 000 opportuni
Slide 21: Revenues and adjusted EBIT trend
Revenues and adjusted EBIT trend Revenues (USDm) Adjusted EBIT 1 development (USDm, %) 12,0 1,0 10% 10,0 0,5 5% 8,0 6,0 0,0 0% 4,0 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 2,0 -0,5 -5% 0,0 -1,0 -10% 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 Adjusted EBIT (left axis) Adjusted EBIT margin (%) R
Slide 22: Strong balance sheet
Strong balance sheet Other ▪ Figures as of Q4 2018 Current Receivables liabilities ▪ Cash balance of USD 5.5 million ▪ No interest bearing debt Cash ▪ Equity ratio of 83% Equity Intangible assets Assets Equity and Liability 22
Slide 23: Top 20 shareholders
Top 20 shareholders # Name Shares % 1 Gross Management AS 7 367 996 17,4 2 Carnegie Investment Bank AB 2 453 386 5,8 3 Tigerstaden AS 1 886 663 4,5 4 Danske Bank A/S 1 702 046 4,0 5 Mp Pensjon PK 1 463 128 3,5 6 Lgt Bank AG 1 402 923 3,3 7 Oma Invest AS 1 400 000 3,3 8 Saxo Bank A/S 1 264 743 3,0 9
Slide 24: Appendix
Appendix 24
Slide 25: Alternative Performance Measures
Alternative Performance Measures The European Securities and Markets Authority (ESMA) issued guidelines on Alternative Performance Measures (“APMs”) that came into force on 3 July 2016. The Company has defined and explained the purpose of the following APMs: EBITDA Management believes that “EBITDA”
Slide 26: aqualis.no
aqualis.no