Studsvik Ab · OMXSTO:SVIK
Studsvik Ab — Q3 2009 Earnings Presentation
14 slides from Studsvik Ab's earnings presentation, Nov 2, 2009
Slide 1: Q3 2009 presentation
Q3 2009 presentation Nov 2, 2009
Slide 2: Positive cash flow but continued loss
Positive cash flow but continued loss • Net sales in Q3 up to SEK 275.0 million (274.2) – Continued growth in Germany and Global Services – Erwin main reason for negative growth in the USA • Operating loss in Q3 of -7.8 million (-4.4) – Loss fully attributable to UK and USA – Operating margin in pro
Slide 3: Key Figures and Ratios
Key Figures and Ratios Q3 -09 Q3 -08 9m -09 9m -08 2008 Net sales for the Group, SEKm 275.0 274.2 867.8 964.8 1,285.9 Operating profit, SEKm -7.8 -4.4 -68.1 20.7 12.7 Net profit, SEKm -9.7 -3.7 -63.0 8.4 1.1 Earnings per share, SEK -1.19 -0.31 -7.67 0.68 -0.05 Cash flow from operations, SEKm 35.0 -0
Slide 4: Financial Targets and Outcome
Financial Targets and Outcome Target 9m-09 2008 -12.0% Organic growth 10% 1.0% (+6.0 % ex USA) EBIT margin 8% n.m. 1.0% Equity / assets 40% 37.9% 40.4% Dividend 30% of EAT SEK 1.00 Q3 report 2009 4
Slide 5: Sweden - Q3
Sweden - Q3 Waste Treatment for European customers • Full utilization of incineration facility • 6 day unplanned technical outage in metals facility • Unfavorable product mix • Less throughput of large components – Bottlenecks are gradually being eliminated • Strong order book – SEK 73 mln order fro
Slide 6: United Kingdom – Q3
United Kingdom – Q3 Decommissioning, Waste Treatment and Engineering & services • MRF licensed and open to business – Received first waste in September – Several frame work agreements signed and waste deliveries planned • Slow decommissioning market – “Wait and see” reaction to the governments compr
Slide 7: Germany – Q3
Germany – Q3 Decommissioning and Engineering & Services • Outages in Q3 at normal levels • Decommissioning projects in Germany Belgium developed according to plan • Engineering office in France fully licensed for nuclear projects and with growing order book Current focus • Grow in engineering consul
Slide 8: USA – Q3
USA – Q3 Waste Treatment • Erwin loss in Q3, but improved outlook – 7 customers, 51 reactors contracted – Customers continue to make decisions based on reduction of cash flow • Memphis recorded small loss – Low waste volumes due to tight market and some outages continuing until the end of the quarte
Slide 9: Global Services – Q3
Global Services – Q3 In-core fuel management software and Materials technology • Materials technology – High capacity utilization in laboratories and in consulting • Fuel management Software – Similar performance as last year Current focus • Capitalize on strong order book and prospect pipeline Q3 r
Slide 10: Net sales
Net sales SEKm Q3 -09 Q3 -08 9m -09 9m -08 2008 Sweden 34.5 38.4 115.8 109.8 152.4 United Kingdom 18.4 34.2 65.8 113.9 148.6 Germany 126.8 98.1 337.0 277.5 387.9 USA 42.2 47.4 149.6 272.0 317.1 Global Services 51.2 41.6 177.1 133.6 196.0 Other 10.2 23.3 50.3 89.5 128.3 Group eliminations -8.3 -8.8 -
Slide 11: Operating profit
Operating profit SEKm Q3 -09 Q3 -08 9m -09 9m -08 2008 Sweden 3.5 11.5 9.1 22.0 30.7 United Kingdom -7.3 0.6 -40.8 2.0 -3.2 Germany 9.6 3.1 20.2 14.4 23.3 USA -12.8 -17.3 -54.3 -5.2 -22.4 Global Services 5.8 -3.6 21.3 7.6 13.0 Other -6.6 -5.9 -23.6 -20.1 -28.7 Group eliminations - - - - - GROUP -7.8
Slide 12: Outlook
Outlook • Modernization and upgrading programs are underway in several countries • Decommissioning of nuclear facilitites is expected to continue at least at present rate in 2009 • Demand for the type of services Studsvik offers is strong • Good order volumes in Sweden, Germany and Global Services •
Slide 13: Summing up
Summing up USA Sweden Global Services 26% of sales 13% of sales 16% of sales Get waste in to Erwin Restore margins while growing Capitalize on strong order book UK 12% of sales Focus on MRF, Waste services and Engineering Germany 32% of sales Grow in Engineering and Share of sales France calculated
Slide 14: Q3 report 2009
14 Q3 report 2009