Bouvet Asa · OSL:BOUV
Bouvet Asa — Q4 2015 Earnings Presentation
25 slides from Bouvet Asa's earnings presentation, Feb 19, 2016
Slide 1: Interim presentation Fourth quarter 2015
Interim presentation Fourth quarter 2015 Sverre Hurum. CEO Erik Stubø. CFO 19 February 2016
Slide 2: Slide 2
Slide 3: Highlights in the quarter
Highlights in the quarter • Revenues and EBIT Revenues and number of employees MNOK and number – Operating revenues increased by 350 6.3 percent to NOK 333.0 million (y- 300 o-y) 250 – EBIT increased by 35.1 percent to 200 NOK 26.1 million (y-o-y) 150 100 • 1036 employees 50 – An increase of 4 in th
Slide 4: Operational Review
Operational Review
Slide 5: Customer logos
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Slide 6: Increase in public sector
Increase in public sector 45,3 % 36,2 % in Q4’14 63,8 % in Q4’14 54,7 % Public sector Privat sector 6 19 February 2016 Interim presentation 4th quarter 2015
Slide 7: Business sectors Q4 2015
Business sectors Q4 2015 Other Bank & finance Retail 2,4 % 4,4 % Power supply 6,5 % 7,3 % Health Transportation 10,3 % 4,3 % Industry 4,9 % Service industry 5,7 % 5,2 % Info and communication 24,1 % Oil & gas 25,0 % Public admin 7 19 February 2016 Interim presentation 4th quarter 2015
Slide 8: Sectors with high increase in revenue
Sectors with high increase in revenue • Health – Increased by 33.5 percent (y-o-y) – Represents 4.3 percent of total revenue in Q4’15 • Transportation – Increased by 20.9 percent (y-o-y) – Represents 10.3 percent of total revenue in Q4’15 • Bank and finance – Increased by 72.2 percent (y-o-y) – Repr
Slide 9: Planning and control of power exchange
Planning and control of power exchange • Statnett´s operating system to plan and control power exchange to Europe • Bouvet delivered a number of areas of expertise and holds a unique competence in developing this type of system www.statnett.no Fotograf: Emil Løkås, Statnett 9 19 February 2016 Interi
Slide 10: New clients in Swedish public sector
New clients in Swedish public sector • Frame agreement with Kammarkollegiet gives many new clients in the public sector • Potential for substantial growth in the public sector in Sweden • Norwegian consultants also contributes 10 19 February 2016 Interim presentation 4th quarter 2015
Slide 11: New patient journey, better treatment
New patient journey, better treatment • Bouvet has supported HEMIT in developing the patient journey – Gives the whole picture across siloes – Identifies the waits and blocks – Has daily reports • Seven hospitals at Helse Midt- Norge has implemented the new journey • Awarded with the Innovation awar
Slide 12: Development of integrated display
Development of integrated display • Faraday Future´s FFZER01 is a high-end electric concept racecar • Bouvet has collaborated with Montaag, an international design agency, in developing a demo of the car´s display • New model will be shown at the Bejing Motor Show in April Foto: faradayfuture.com
Slide 13: Customer and project mix
Customer and project mix • Project mix Variably priced contracts share of revenues Percentage – Variable contracts account for 100% 95.1 percent of total revenues 90% 80% • Client portfolio 70% 60% – The 10 largest customers 50% represent 37.0 percent of Q4'10 Q4'11 Q4'12 Q4'13 Q4'14 Q4'15 total rev
Slide 14: Client development
Client development • Existing clients* Revenues customer split MNOK – Accounted for 89.5 percent of Existing customers* New customers (LTM)** revenues in Q4’15 350 • New customers** 300 – Customer won over the past 250 year generated revenues of 200 NOK 35.0 million in Q4’15 150 100 50 * Existing cu
Slide 15: Regional organisation
Regional organisation 89 61 18 Trondheim 410 Bergen Sandvika Ørebro Stockholm Haugesund Oslo 328 Sandefjord Stavanger Skien Group Kristiansand Arendal 56 management and staff: 16 Malmø 58 15 19 February 2016 Interim presentation 4th quarter 2015
Slide 16: Enthusiastic and competent employees
Enthusiastic and competent employees • 1 036 employees at the end of Number of employees end of quarter the third quarter 1200 – 4 new employees in Q4’15 1000 800 – 28 more employees in the 600 past 12 months 400 200 – Average number of 0 Q4'10 Q4'11 Q4'12 Q4'13 Q4'14 Q4'15 employees in the quarter
Slide 17: Financial Review
Financial Review
Slide 18: Key figures
Key figures Three months ending Twelve months ending MNOK 31.12.2015 31.12.2014 Change 31.12.2015 31.12.2014 Change Operating revenue 333.0 313.2 6.3 % 1 232.5 1 132.6 8.8 % Operating profit (EBIT) 26.1 19.3 35.1 % 99.4 79.2 25.5 % EBIT margin 7.8 % 6.2 % 8.1 % 7.0 % Ordinary profit before tax 26.7
Slide 19: Top line growth
Top line growth • Revenues increased by 6.3 percent Revenue split (quarterly figures) MNOK y-o-y 350 Own consultants – Revenues from own consultants 300 Sub-contracted consultants 250 Other increased by 6.1 percent to NOK 200 280.9 million 150 100 – Revenues from sub-contracted 50 0 consultants incr
Slide 20: Revenue from own consultants
Revenue from own consultants • Increased by 6.1 percent y-o-y Revenue per employee (quarterly figures) TNOK • Positive impact from 3.8 percent 300 250 increase in average number of 200 employees 150 • Positive impact from 0.7 percent 100 50 increase in prices for group hourly 0 services Q4'10 Q4'11
Slide 21: Earnings
Earnings • Operating profit increased y-o-y in EBIT and EBIT margin MNOK and Percent Q4’15 40 EBIT EBIT margin 15% – EBIT margin of 7.8 percent 30 compared to 6.2 percent in Q4’14 10% 20 • Operating expenses increased by 10 5% 4.4 percent compared to Q4’14 0 0% Q4'10 Q4'11 Q4'12 Q4'13 Q4'14 Q4'15 •
Slide 22: Cash flow
Cash flow • Cash flow from operations Cash flow from operations (per quarter) MNOK – NOK 99.8 million in Q4’15, up from 120 NOK 61.6 million in Q4’14 100 80 60 • Rolling 12 months 40 20 – Operational cash flow over the last 0 -20 12 months was NOK 127.9 million -40 Q4'10 Q4'11 Q4'12 Q4'13 Q4'14 Q4'1
Slide 23: Outlook
Outlook
Slide 24: Outlook
Outlook • Technology is increasingly business-critical • Bouvet´s range of services is in line with the market demand • Increasing demand for our services in the public sector • Still challenging in oil and gas sector • Increasing demand in Sweden 24 19 February 2016 Interim presentation 4th quarter
Slide 25: Shareholders as of 18.02.2016
Shareholders as of 18.02.2016 Investor Number of shares % of total STENSHAGEN INVEST AS 1 108 402 10,81 % VARNER KAPITAL AS 1 070 000 10,44 % PROTECTOR FORSIKRING ASA 820 000 8,00 % MP PENSJON PK 569 904 5,56 % HURUM SVERRE FINN 507 252 4,95 % SIX SIS AG 400 000 3,90 % VEVLEN GÅRD AS 400 000 3,90 %