Bouvet Asa · OSL:BOUV

Bouvet Asa — Q1 2017 Earnings Presentation

26 slides from Bouvet Asa's earnings presentation, May 19, 2017

  1. Slide 1: Interim presentation First quarter 2017

    Interim presentation First quarter 2017 Sverre Hurum. CEO Erik Stubø. CFO 19 May 2017

  2. Slide 2: Highlights in the quarter

    Highlights in the quarter Revenue and number of employees MNOK and number o Revenue and EBIT 450 400 • Operating revenues increased by 29.8 percent 350 to NOK 419.1 million (y‐o‐y) 300 250 • EBIT increased by 102.5 percent to NOK 41.2 200 150 million (y‐o‐y) 100 50 o 1 131 employees 0 Q1'12 Q1'13 Q1

  3. Slide 3: Operational Review

    ©) Operational Review

  4. Slide 4: Increase in public sector

    Increase in public sector Public sector Privat sector 51,1 % in Q1’16 47.3… 52.7 % 48,9 % in Q1’16 4

  5. Slide 5: Business sectors Q1 2017

    Business sectors Q1 2017 Other Bank & finance Retail 2.9 % 3.5 % Power supply 7.3 % 10.0 % Transportation Health 9.5 % 2.9 % Industry 4.3 % 6.7 % 4.1 % Info and communication Service industry 19.4 % Oil & gas 29.3 % Public admin 5

  6. Slide 6: Sectors with high increase in revenue

    Sectors with high increase in revenue o Public admin • Increased by 57.1 percent (y‐o‐y) • Represents 29.3 percent of total revenues in Q1’17 o Power supply • Increased by 52.9 percent (y‐o‐y) • Represents 10.0 percent of total revenues in Q1’17 o Retail • Increased by 61.5 percent (y‐o‐y) • Represe

  7. Slide 7: Spy toys

    Spy toys Darlig sikkerhet pa internett-tilkoblede leker kan sette dine barn i fare HEI, KARI DU BOR GA UTI BILEN TIL MANNEN UTENFOR. HAN HAR GODTERI DER. Inthenews Walsh pushes new tenant protections Senate < — Setegee = is ilar | emo faults Fo tame Teo The Boston Glade + Allege Horror of Oakland fi

  8. Slide 8: Artificial intelligence (AI) and machine learning (ML)

    Artificial intelligence (AI) and machine learning (ML) 8

  9. Slide 9: Awards

    Awards Nominated as the one of five in the local authority website category among Sweden’s top 100 websites by Internetworld Winner of Max Marketing Mix 2017 in the internal marketing category with a solution Nominated as one of three finalist to the developed for Viasat Digitalization Award 2017 by

  10. Slide 10: New clients

    New clients svt a eeen © Capio S:t Gorans Sjukhus RR pointresources 2. Socialstyrelsen €> th Indremisjonsforbundet BYGGMA g is —— ~© VISMA 10

  11. Slide 11: Customer and project mix

    Customer and project mix Variably priced contracts share of revenues Percentage o Project mix 100% • Variable contracts account for 96.1 percent of 90% total revenues 80% 70% o Client portfolio 60% 50% • The 10 largest customers represent 36.0 percent Q1'12 Q1'13 Q1'14 Q1'15 Q1'16 Q1'17 of total rev

  12. Slide 12: Client development

    Client development Revenue customer split MNOK o Existing clients* Existing customers* New customers (LTM)** • Accounted for 89.6 percent of revenues in Q1’17 450 400 o New customers** 350 • Customers won over the past year generated 300 revenues of NOK 43.9 million in Q1’17 250 200 150 100 50 * Exi

  13. Slide 13: Regional organisation

    Regional organisation Trondheim 95 Bouvet Nord ansatte 457 Bouvet Øst ansatte 22 Sesam ansatte 67 Bouvet Bergen Bergen ansatte Sandvika Oslo Ørebro Stockholm Haugesund 320 Bouvet Rogaland Sandefjord ansatte Stavanger Skien Arendal Kristiansand 93 Bouvet Sverige ansatte 21 Konsernstab 56 Bouvet Sør a

  14. Slide 14: Enthusiastic and competent employees

    Enthusiastic and competent employees o 1 131 employees at the end of the first quarter Number of employees end of quarter • Up 41 from Q4’16 1200 1000 • 95 more employees in the past 12 months 800 • Average number of employees in the quarter up 600 400 8.1 percent from Q1’16 200 0 Q1'12 Q1'13 Q1'14

  15. Slide 15: Focus on employee satisfaction and recruitment

    Focus on employee satisfaction and recruitment 15

  16. Slide 16: Financial Review

    ©) Financial Review 16

  17. Slide 17: Key figures

    Key figures Three months ending Twelve months ending MNOK 31.03.2017 31.03.2016 Change 31.03.2017 31.03.2016 Change Operating revenue 419.1 322.9 29.8 % 1 426.9 1 228.4 16.2 % Operating profit (EBIT) 41.2 20.3 102.5 % 127.1 87.7 45.0 % EBIT margin 9.8 % 6.3 % 8.9 % 7.1 % Ordinary profit before tax 4

  18. Slide 18: Revenue

    Revenue Revenue split (quarterly figures) MNOK 500 Own consultants o Revenues increased by 29.8 percent y‐o‐y Sub‐contracted consultants 400 Other • Revenues from own consultants increased by 25.5 300 percent to NOK 341.0 million 200 • Revenues from sub‐contracted consultants increased by 100 61.4 p

  19. Slide 19: Revenues from own consultants

    Revenues from own consultants Revenue per employee (quarterly figures) o Increased 25.5 percent y‐o‐y TNOK 350 • Positive impact from increase in billing ratio by 2.4 300 percentage points 250 200 • Positive impact from 8.1 percent increase in average 150 100 number of employees 50 0 • Positive impa

  20. Slide 20: Analysis of change in revenues y-o-y

    Analysis of change in revenues y‐o‐y Revenue MNOK 25 20 15 23.4 23.0 10 18.8 5 9.2 6.4 4.7 4.1 3.5 3.0 0 Sub‐contractors No. of employees No. of work days Billing ratio Overtime/extra work‐ Vacation Hourly rate Other Progress in projects hours 20

  21. Slide 21: Change in revenues – effect on EBIT

    Change in revenues – effect on EBIT Revenue MNOK 25 Change in Revenue Effect on EBIT 20 15 23.4 23.0 10 18.8 13.4 5 9.2 6.5 6.4 4.7 4.1 3.3 2.9 3.5 3.0 1.5 1.7 2.3 0 0.7 Sub‐contractors No. of employees No. of work days Billing ratio Overtime/extra Vacation Hourly rate Other Progress in projects wor

  22. Slide 22: Earnings

    Earnings EBIT and EBIT margin MNOK and Percent o Operating profit increased y‐o‐y in Q1’17 50 EBIT EBIT margin 15% • EBIT margin of 9.8 percent compared to 6.3 percent in 40 Q1’16 30 10% 20 o Operating expenses increased by 24.9 percent 5% 10 compared to Q1’16 0 0% Q1'12 Q1'13 Q1'14 Q1'15 Q1'16 Q1'1

  23. Slide 23: Cash flow

    Cash flow Cash flow from operations (per quarter) o Cash flow from operations MNOK 150 • NOK ‐13.3 million in Q1’17 compared to NOK ‐21.1 100 million in Q1’16 50 o Last 12 months 0 • Operational cash flow over the last 12 months was NOK ‐50 117.2 million Q1'12 Q1'13 Q1'14 Q1'15 Q1'16 Q1'17 o Cash fl

  24. Slide 24: Outlook

    Outlook 24

  25. Slide 25: Outlook

    Outlook Freeing time by automatisation Increased knowledge about predators the City of Bergen Norwegian Environment Agency o We believe in the future Enhance customer experience Agder kollektiv trafikk Increase efficiency Strengthen culture Aibel Western Norway University of Applied Sciences Battle

  26. Slide 26: Shareholders as of 18.05.2017

    Shareholders as of 18.05.2017 Investor Number of shares % of total VARNER KAPITAL AS 1 070 000 10,44 % STENSHAGEN INVEST AS 925 402 9,03 % VPF NORDEA AVKASTNING 778 120 7,59 % PROTECTOR FORSIKRING ASA 700 000 6,83 % MP PENSJON PK 569 904 5,56 % HURUM SVERRE FINN 507 873 4,95 % VEVLEN GÅRD AS 420 000

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