Inin Group As · OSL:ININ
Inin Group As — Elop — H1 2022 Earnings Presentation
28 slides from Inin Group As's earnings presentation, Sep 27, 2022
Slide 1: Elop H1 2022 presentation
Elop H1 2022 presentation 27.9.2022
Slide 2: Cautionary note
Cautionary note This presentation includes forward-looking information and statements that are subject to risks and uncertainties. Actual results may differ significantly from those communicated herein. Such forward-looking information pertain to, amongst other things; (a) forecasts, projections and
Slide 3: Presenting team
Presenting team Øivind Horpestad Kim Boman CEO Chief Financial Officer 3
Slide 4: Key highlight: New strategy for Elop Group
Key highlight: New strategy for Elop Group • Elop Group to move into adjacent segments across the value chain, e.g. inspection services and construction and maintenance of infrastructure • Elop Technology seeks to expand value add beyond being a product provider • Goal to become cash flow positive i
Slide 5: 1H 2022: Other highlights and subsequent events
1H 2022: Other highlights and subsequent events 1H 22 HIGHLIGHTS SUBSEQUENT EVENTS • Strategic revision launched in June 2022 • Successful closing of sale of Simplifai, secured funding – Elop Tech stand alone • Elop Technology signed several key distributors in e.g.; UK&I, France, South-east Asia an
Slide 6: Agenda
Agenda • Executing new strategy • Elop Technology • Financials • Summary & Outlook • Appendix 6
Slide 7: Our ambition is to become the leading expert service provider for the infrastructure industry
Our ambition is to become the leading expert service provider for the infrastructure industry Infrastructure: Construction, Inspection: Testing, Technology: Inspection competence and service- Inspection and Certification of hardware & software supply infrastructure and all other industrial assets Im
Slide 8: Attracting & retaining top talent, and aligned interests are keys to success
Attracting & retaining top talent, and aligned interests are keys to success 1 • We want to become the preferred supplier • Aligning the interests of all employees and of expert services for the infra industry the Group is of greatest importance • To become this, we want to attract and build • We wi
Slide 9: We focus on finding profitable niches and aim to become the preferred partner within each niche
We focus on finding profitable niches and aim to become the preferred partner within each niche Elop AS Nordic Inspekt Infra Group AB 100% 65% Inspection tools & Complimentary Complimentary Complimentary Complimentary software construction biz inspection biz inspection biz inspection biz Constructio
Slide 10: The companies in each division will form a joint management team
The companies in each division will form a joint management team E.g.: Infra Infra Infra Management team • The businesses will be kept independent • Synergies and co-operation will be handled through joint management teams • The teams will be formed by each company’s Complimentary manager and divisi
Slide 11: The team
The team Infra Nordic Inspekt Group AB Elop Technology Niklas Persson Emir Evlic Gjermund Sogn CEO Interim CEO, Head of Sales CEO, Nordic Infrastructure Group • Almost 30 years industry experience from various • Over 15 years of sales & business development • Founder of NI Group and one of the origi
Slide 12: From a R&D company to an infrastructure specialist
From a R&D company to an infrastructure specialist 2013 Summer 2020 Winter 2021 Summer 2022 Elop Technology founded in Elop raises capital by going Elop acquires Simplifai to speed Elop announces new strategy Hamar, Norway. R&D company public on Euronext Growth, Oslo up its software and hardware for
Slide 13: Agenda
Agenda • Executing new strategy • Elop Technology • Financials • Summary & Outlook • Appendix 13
Slide 14: Excellent progress in building the market – process started to find strategic partner
Excellent progress in building the market – process started to find strategic partner Significant events in Elop Technology Structured process to find strategic partner Inspection, with partner, of a highway bridge, in Canada, with the mission is to scan an area of 9000 m2 Insight scanner being util
Slide 15: Agenda
Agenda • Executing new strategy • Elop Technology • Financials • Proforma • Summary & Outlook • Appendix 15
Slide 16: Elop Group income statement
Elop Group income statement Amounts in NOK thousand 1H 2022 1H 2021 FY 2021 Revenue 818 25 266 • Elop completed the sale of Simplifai on 6 Total revenue 818 25 266 July 2022. Simplifai has been reported as Cost of sales 759 5 220 discontinuing operations. Employee benefit expenses 9,005 19,975 26,09
Slide 17: Liquidity Elop Group
Liquidity Elop Group NOK million 200 +91 50 150 147 100 86 56 4 50 0 Cash balance 30.6.2022 Grant1 Sale of Simplifai (cash)2 Total Vendor note3 1) Conditions to be met to be eligible for payment of grant 2) Elop received NOK 86m at closing on 6 July 2022. 3) A vendor note of NOK 50 million is due 30
Slide 18: Agenda
Agenda • Executing new strategy • Elop Technology • Financials • Proforma • Summary & Outlook • Appendix 18
Slide 19: Elop Group proforma revenues in H1 of NOK 95M, expected to reach NOK ~208M in FY2022
Elop Group proforma revenues in H1 of NOK 95M Expected to reach NOK ~208M in FY2022 Proforma revenue1 (M NOK) Proforma Orderbook (M NOK) 220 208 200 200 3 175 180 160 150 111 140 120 100 205 › 100 80 60 50 94 40 20 3 1 0 2 0 H1 2022 Forecast H2 Forecast H1 2022 Forecast H2 Forecast 30.6.2022 FY2022
Slide 20: Infra segment delivering healthy results – actions taken to significantly decrease cost in Elop Tech
Infra segment delivering healthy results – actions taken to significantly decrease cost in Elop Tech Elop Group Proforma EBIT1 (M NOK) 20 • Elop Technology & Group have initiated streamlining programs 10 18 7 11 to significantly cut down on cost 0 • Full effect of cost reduction -10 -24 -19 program
Slide 21: Agenda
Agenda • Executing new strategy • Elop Technology • Financials • Summary & Outlook • Appendix 21
Slide 22: Summary Outlook
SUMMARY OUTLOOK • New strategy launched and implementation started, • Interest in Elop Technology expected to continue to signed and closed acquisitions of Nordic grow as technology matures/adoption increases Infrastructure Group and Hadeland Elektro • Activity level for construction and maintenance
Slide 23: Upcoming events
UPCOMING EVENTS • Webcast presentation for each business area; Elop Technology Infrastructure, Inspection and Technology to Emir Evlic Interim CEO, Head of Sales be held in November (exact dates to be announced) Nordic Inspekt Group AB Niklas Persson CEO Infra Gjermund Sogn CEO 23
Slide 24: Agenda
Agenda • Executing new strategy • Elop Technology • Financials • Summary & Outlook • Appendix 24
Slide 25: General
General General Alternative Performance Measures Elop AS (the Company) was founded in 2013 and is a limited liability The European Securities and Markets Authority (ESMA) issued guidelines on Alternative company who is incorporated and domiciled in Norway, with its Performance head office in Drammen
Slide 26: Elop AS Group consolidated balance sheet
Elop AS Group consolidated balance sheet Amounts in NOK thousand 30 June. 2022 31 Dec. 2021 Amounts in NOK thousand 30 June. 2022 31 Dec. 2021 ASSETS EQUITY AND LIABILITIES Non-current assets Equity Goodwill - 94,114 Share capital 5,900 5,900 Intangible assets 52,815 87,367 Treasury shares (270) (30
Slide 27: Cashflow statement
Cashflow statement Amounts in NOK thousand 1H 2022 1H 2021 2021 Cashflows from operating activities Profit/(loss) before income tax (22,598) (32,475) (55,843) Adjustments for Depreciation and amortization 4,112 2,911 6,677 Share-based expenses 204 7,150 8,148 Change in trade and other receivables (1
Slide 28: 20 largest shareholders
20 largest shareholders # Name No of shares % Ownership 1 Melandsø Invest As 12,771,081 10.5 2 Gimle Invest As 11,900,427 9.8 • At 30th of June 2022; 6,100,000 outstanding options. 3 Sogn Invest As 9,632,746 7.9 4 Bhm Holding As 4,483,230 3.7 5 Hkl Holding As 4,452,582 3.7 6 Elop As 4,064,548 3.3 7