Integrated Wind Solutions Asa · DUS:9UG1
Integrated Wind Solutions Asa — Q2 2023 Earnings Presentation
14 slides from Integrated Wind Solutions Asa's earnings presentation, Aug 24, 2023
Slide 1: Q2 2023 Presentation
Q2 2023 Presentation 24 August 2023
Slide 2: IWS | A fully integrated offshore wind solutions provider
IWS | A fully integrated offshore wind solutions provider 1) Clarksons 2 2) 30% ownership. Fixed price option exercisable within three years from original share purchase to acquire an additional 19% of shares (pre-dilution from share-based option program to key employees)
Slide 3: IWS business areas | Covering integrated services and asset management
IWS business areas | Covering integrated services and asset management Integrated Services Operations and Asset Management 100% 97%1) 30% → 49%2) Owner and operator of Electrical engineering & high-end CSOVs services and strategic A leading provider of wind advisory farm consultancy, operations and
Slide 4: Q2 2023 | Recent highlights
Q2 2023 | Recent highlights * Adjustments of NOK 1.7m in respect of prior periods, primarily accounting for share-based incentives and losses in an associated 4 company of PEAK Wind to build a larger organisation.
Slide 5: Q2 2023 | Recent highlights (cont.)
Q2 2023 | Recent highlights (cont.) 5
Slide 6: IWS Fleet | Vessels under construction at CMI shipyard
IWS Fleet | Vessels under construction at CMI shipyard 1 2 3 4 IWS Skywalker IWS Windwalker IWS Seawalker IWS Starwalker In commissioning and preparing for Construction is progressing Construction is progressing Preparing for commissioning upcoming sea trials according to plan according to plan The
Slide 7: CSOV market | Favourable market dynamics
CSOV market | Favourable market dynamics Growth in offshore wind turbines (# ‘000)1 Vessel supply & demand (#)2 CSOV rate development (EUR/day) “Tier 3 swing-tonnage” Gap filled by High oil & gas prices have led to a resurgence in oil & gas work for vessels that have used the wind market as a tempor
Slide 8: IWS Fleet | CSOVs contracted at attractive prices
IWS Fleet | CSOVs contracted at attractive prices Newbuilding yard prices1 (EUR million) -30% IWS Fleet’s six CSOVs ordered at an attractive average fixed yard price of EUR 48m per vessel, which includes additional equipment and features that would add EUR ~5m to standard yard prices. 8 1) Source: C
Slide 9: IWS Fleet | Well positioned to benefit from a strong market
IWS Fleet | Well positioned to benefit from a strong market Under construction Firm contracts Options 9
Slide 10: Key financials | Q2 2023
Key financials | Q2 2023 Income statement ( Q1 2023 Q2 2023 Operating revenue 61,990 61,454 ; PEAK Wind share of net profit of NOK -0.2m less NOK 1.0m Share of net profit of associates 1,840 -1,191 amortisation of acquisition-related intangible assets. Total revenue 63,830 60,263 Operating expenses
Slide 11: Key financials | Q2 2023
Key financials | Q2 2023 Balance sheet (NOK '000) Q1 2023 = Q2.2023 Q12023 © Q2 2023 Vessels under construction 657,597 713,866 Share capital 78,289 78,289 Other fixed assets 4,192 21,392 Share premium reserve 1,288,986 1,288,976 Intangible assets 71,479 73,002 Retained earnings 3,359 3,196 Investme
Slide 12: IWS Fleet | Capex & financing
IWS Fleet | Capex & financing ~ ~ 1) Debt facility signed for IWS Skywalker, IWS Windwalker, IWS Seawalker and IWS Starwalker for up to EUR 118.65m. 12 The bank financing for IWS Moonwalker and IWS Sunwalker is expected to be secured in 2024.
Slide 13: Outlook
Outlook Continued positive outlook for the offshore wind industry. IWS is well-positioned to take part in the industry growth by providing CSOVs, electrical works (ProCon), offshore wind consultancy (Green Ducklings), and the consultancy & advisory and operations & asset management services of wind
Slide 14: iws@integratedwind.com integratedwind.com
iws@integratedwind.com integratedwind.com
Integrated Wind Solutions — Q2 2023 Earnings Presentation on 6ix