Akva Group Asa · OSL:AKVA

Akva Group Asa — Q1 2010 Earnings Presentation

24 slides from Akva Group Asa's earnings presentation, Apr 29, 2010

  1. Slide 1: 1Q 2010 presentation

    The global leader in aquaculture technology 1Q 2010 presentation 29 April 2010 Knut Molaug, CEO M t Morten N l d CFO Nærland,

  2. Slide 2: Agenda

    Agenda Background & highlights 1Q Q 2010 Financial review Outlook Q&A 2

  3. Slide 3: Global leader in aquaculture technology

    Global led@er in aquacuttare technology. Nothiag more. Nothingless.

  4. Slide 4: AKVA group in brief

    AKVA group in brief Software systems Cage systems Facts about AKVA group & services • The leading supplier of aquaculture technology. • Strong market position for all main products • The only supplier with ”global” global presence. • Leading supplier in a global growth industry. Feed barges Recircul

  5. Slide 5: "One-stop-shop" in aquaculture technology

    “One-stop-shop” in aquaculture technology Value a ue C Chain a SoSoftware t a e Land Based Farms Cage Based Farms 5

  6. Slide 6: 1Q highlights

    1Q highlights ● Operating revenues in 1Q were 158 158.0 0 MNOK versus 152.4 MNOK last year. ● The EBITDA in 1Q was 0.5 MNOK versus -3.3 MNOK last year. ● Order backlog at the end of 1Q2010 was 260 MNOK which is approximately 30% higher than last year. ● The order inflow in 1Q was 140% higher than la

  7. Slide 7: 1Q highlights

    1Q highlights ● Changes to the organisation made in 2010:  Morten Nærland appointed pp Chief Financial Officer (CFO) • From earlier temporary position  Jone Gjerde j appointed pp Chief Technical Officer (CTO) • From the position as PRU Manager for Hardware  Per e Andreas d eas Hjetland jet a d ap

  8. Slide 8: New Management Structure

    New Management Structure Knut Molaug CEO Jone Gjerde Morten Nærland CTO CFO Coord HW- R&D R&D Recirc Technical organisation (PRU) Sales & Market organisation (BU) Odd Martin Trond Andrew Wade Kaskiw Per A.Hjetland Jørgen Scheel Stig Martin Bø David Thorburn Solem Severinsen Campbell North PRU-Hardwa

  9. Slide 9: Agenda

    Agenda Background & highlights 1Q Q 2009 Financial review Outlook Q&A 9

  10. Slide 10: 1Q Financials – P&L

    1Q Financials – P&L RESULTATREGNSKAP / INCOME STATEMENT 2010 2009 2009 (NOK 1 000) 1Q 1Q Total OPERATING REVENUES 158 023 152 379 599 345 Operating costs ex depreciations 157 503 155 662 610 872 OPERATING PROFIT BEFORE DEPRECIATIONS (EBITDA) 520 -3 284 -11 527 Depreciation 7 510 7 838 30 866 OPERATI

  11. Slide 11: 1Q Financials – P&L comments

    1Q Financials – P&L comments ● Operating revenue in 1Q10 was 158 MNOK. MNOK  The quarterly revenue was slightly up compared to 1Q 2009.  Continued low revenues due to restrictive investment programs by the customers ● The EBITDA result was 520 KNOK  The EBITDA result was negatively affected by co

  12. Slide 12: Market segments

    Market segments Geographic segments (YTD) Other 12 % • Norway is the dominating segment seg e t • The UK and other markets are UK andd Ireland 12 % Norway showing a positive development • Chilean Latin 58 % e ca America 8% Chil market k t continue ti tto North reduce it’s importance. America 10 % Pr

  13. Slide 13: Market segments

    Market segments AKVA group revenues within other species 140 MNOK. 120 CAGR 2003-2009 ~50% 100 80 60 40 20 0 2003 2004 2005 2006 2007 2008 2009 2010* * Sales and order backlog for delivery in 2010 per 1Q. • The positive development within other species than salmon continue. • Major contract for deli

  14. Slide 14: Balance sheet

    Balance sheet BALANCE SHEET 2010 2009 2009 (NOK 1 000) 31.3. 31.3. 31.12. Intangible fixed assets 245 039 255 847 243 920 Fixed assets 38 034 42 632 39 071 Long-term financial assets 1 043 1 593 1 069 FIXED ASSETS 284 116 300 072 284 061 Stock 133 312 139 397 116 248 Trade receivables 152 390 162 99

  15. Slide 15: Balance sheet items

    Balance sheet items Working Capital (MNOK) ● Working Capital: 220 199  Further improvement 200 180 162 172 168 seen in the working 160 140 138 141 128 120 capital in 1Q. 1Q 106 120 100  The company continue 80 60 to focus on maintaining 40 20 a low working capital. 0 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09

  16. Slide 16: Financial position

    Financial position Equity (%) ● Equity: 55 % 50 %  Sound equity position 50 % 47 % 46 % 46 % 45 % 45 % 46 % 45 % 42 % 39 % 40 % 35 % 30 % 25 % 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 Cash balance (MNOK) ● Cas Cash Position: os t o  Available cash 86 150 125 103 MNOK 100 75 63 57 56 48 51 52 5

  17. Slide 17: Cash flow statement

    Cash flow statement CASH FLOW STATEMENT 2010 2009 2009 (NOK 1 000) 1Q 1Q Total Net cash flow from operational activities 11 760 -6 344 32 656 Net cash flow from investment activities -4 4 194 -5 5 037 -24 24 095 Net cash flow from financial activities -22 156 3 282 1 717 Net cash flow -14 590 -8 100

  18. Slide 18: Agenda

    Agenda Background & highlights 1Q Q 2010 Financial review Outlook Q&A 18

  19. Slide 19: Order backlog and inflow

    Order backlog and inflow O d Order b kl backlog (MNOK) 400 350 ● The order backlog was 300 260 MNOK at the end 250 off 1Q. 1Q 200 ● Up 30% compared to 150 same period last year. 100 ● U 27% compared Up d to t 50 previous quarter. 0 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 Order inflow (MNOK) 250

  20. Slide 20: Outlook

    Outlook ● Investment climate  The market fundamentals for AKVA’s main customers remain favourable and the customers experience healthy y earnings. g  The balance between supply and demand for Atlantic salmon, the product of AKVA group’s main customers, is expected p to be favourable through g 2010

  21. Slide 21: Outlook

    Outlook ● High underlying demand in Norwegian salmon market  The Norwegian salmon industry is showing good p profits at p present and are p positive for the outlook for the coming years.  However, the investment level of the industry is still at a considerably lower level than earlier years.  The

  22. Slide 22: Agenda

    Agenda Background & highlights 1Q Q 2010 Financial review Outlook Q&A 22

  23. Slide 23: AKVA group – global presence

    AKVA group – global presence Norway Iceland Scotland Denmark Canada Canada Turkey AKVA office China AKVA representation Thailand Vietnam Malaysia Chile All major industry players as customers 23

  24. Slide 24: AKVA group – brief historic summary

    AKVA group – brief historic summary 1974: World’s fist plastic cages (Polarcirkel) – today more than 40.000 units delivered 1978: First Seafood industry software solution 1980: World’s first automatic feed systems 1984: Maritech: first seafood industry PC based ERP software system ations: 1985: Firs

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