Slide 1: Q3 2022 operational update
NEKKAR Disruptive technologies, sustainable results Q3 2022 operational update Ole Falk Hansen, CEO 24 November 2022
Slide 2: Disclaimer
Disclaimer By reading this company presentation (the “Presentation”), or attending any meeting or oral presentation held in relation thereto, you (the “Recipient”) agree to be bound by the following terms, conditions and limitations. The Presentation has been produced by Nekkar ASA (the “Company”) f
Slide 3: Nekkar ASA: Disruptive technologies, sustainable results
Nekkar ASA Disruptive technologies, sustainable results Proven track record of delivering technologies that NEKKAR IN BRIEF increase efficiency and sustainability for fast-growing industries NOK 480m revenue (’21) NEKKAR 29.1% EBITDA margin (’21) SHIPYARD AQUACULTURE RENEWABLES SOLUTIONS No interest
Slide 4: Q3 2022 highlights
Nekkar ASA Q3 2022 highlights Highlights • Operational EBITDA margin of 27.1% (Q3 2021: 30.9%)1 • Revenue of NOK 79 million (NOK 128 million) due to previously mentioned client-side delays on certain projects • Quarterly order intake of NOK 117 million (NOK 69 million) • Highest order intake since 2
Slide 5: Key financials | Per quarter
Key financials | Per quarter Revenues (MNOK) Operational EBITDA (MNOK) & margin (%)1 160 50 47 40% 138 45 35% 140 128 40 39 39 122 27.1% 30% 120 35 100 25% 100 93 30 84 25 79 25 20% 80 21 20 17 15% 60 15 12 10% 40 10 5% 5 20 0 0% 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022
Slide 6: Shipyard solutions
Shipyard solutions Nytt bilde?
Slide 7: Service – moving from ad-hoc to long term lifecycle partnership
SHIPYARD SOLUTIONS Service – moving from ad-hoc to long term lifecycle partnership Long-term recurring business model Lifetime partnership SHARE OF WALLET Guaranteed Total solution (fixed service prices, predictive Inspection maintenance, agreements (FSA) outsourcing) Spares (i.e. price list) Ad hoc
Slide 8: Multiple new contracts in Q3 2022, reflecting high tendering activity
SHIPYARD SOLUTIONS Multiple new contracts in Q3 2022, reflecting high tendering activity Shiplift spare parts Value: NOK 51.5 million Location: UK Transfer fluid systems Value: NOK 19.9 million Transfer fluid systems Location: US Value: NOK 23.6 million Spares and Location: US inspections Value: NOK
Slide 9: Order intake and backlog
Order intake and backlog Order intake per quarter (MNOK)1 Order backlog development (MNOK) 140 1200 1043 120 117 1000 975 948 894 100 838 795 800 763 80 69 600 60 400 40 31 28 24 20 16 200 0 0 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 1 Does not account for
Slide 10: Impact technologies
Impact technologies
Slide 11: Soft funding and industrial partnerships remain key part of technology development strategy
Soft funding and industrial partnerships remain key part of technology development strategy NOK 5.5 million soft funding received in Q3: • Starfish (NOK 1.9 million) • SkyWalker (NOK 1.9 million) • Intellilift (NOK 1.8 million) Additional NOK 6.5 million received so far in Q4 2022 Innovation partner
Slide 12: Renewables
Renewables Photo: Unsplash.com
Slide 13: BMS: SkyWalker innovation partner
BMS: SkyWalker innovation partner • Favoured installation partner for several large international wind turbine manufacturers (OEMs) • 10+ years’ wind turbine installation experience: onshore and offshore BMS’ role in partnership • Verification and benchmarking of SkyWalker installation tool • Provis
Slide 14: ULTURE
ULTURE
Slide 15: Starfish: Completion of design improvements
Starfish: Completion of design improvements Design improvements made to Starfish • To further enhance go-to-market product with increased volume and optimized operational aspects Progress on full scale Starfish • Analysing sites for full scale model together with leading fish farming companies • Res
Slide 16: Digital Solutions
(B sectn 25: cng 42215mt0 294520) B @ Ponmeters @ View © rownae 180 gpm eae of meunarion RELATIVEBED HEIGHT —SOLIDSCONCENTRATION ECD
Slide 17: Viasat joins digital well construction solution JV together with Nekkar and Transocean
Visasat joins digital well construction solution JV together with Nekkar and Transocean • Leading international provider of offshore • Specialist within electrification, automation, • Global communication company with 7,000 drilling services for oil and gas wells digitalization and remote control of
Slide 18: Financial highlights
Financial highlights
Slide 19: Financial highlights
Nekkar ASA Financial highlights Consolidated statement of profit and loss Third quarter revenue of MNOK 79, representing a decline of 38% compared to the same period last year Revenue decline impacted by customer-related delays Unaudited Unaudited Audited Nekkar ASA YTD Q3 revenue of MNOK 263
Slide 20: Summary Q3 2022 & outlook
Summary Q3 2022 & outlook Summary Outlook Lower revenue than expected due to previously mentioned Shipyard High tendering activity, expect newbuild tenders client-side delays, but solid operational performance with Solutions awards in Q4 2022 EBITDA-margin of 27.1% Digital Signing of oil and gas
Slide 21: Alternative performance measures
Nekkar ASA Alternative performance measures INTRODUCTION TO ALTERNATIVE PERFORMANCE MEASURES (APMs) PROFIT MEASURES Nekkar Group (Nekkar) discloses alternative performance measures in addition EBITDA is short for “earnings before interest, taxes, depreciation and to those normally required by IFRS.
Slide 22: nekkar.com
AY NEKKAR nekkar.com