Slide 1: Q4 and full-year 2022 financial results
NEKKAR Disruptive technologies, sustainable results Q4 and full-year 2022 financial results Ole Falk Hansen, CEO 16 February 2023
Slide 2: Disclaimer
Disclaimer By reading this company presentation (the “Presentation”), or attending any meeting or oral presentation held in relation thereto, you (the “Recipient”) agree to be bound by the following terms, conditions and limitations. The Presentation has been produced by Nekkar ASA (the “Company”) f
Slide 3: Nekkar ASA: Disruptive technologies, sustainable results
Nekkar ASA Disruptive technologies, sustainable results Proven track record of delivering technologies that NEKKAR IN BRIEF increase efficiency and sustainability for fast-growing industries MNOK 388 revenue (’22) NEKKAR MNOK 824 in order backlog SHIPYARD AQUACULTURE RENEWABLES Strong balance sheet,
Slide 4: Q4 2022 highlights
Nekkar ASA Q4 2022 highlights Highlights • Highest quarterly revenue in 2022 at MNOK 125 (Q4 2021: 138) • Operational EBITDA1 of MNOK 13 (47) negatively impacted by a USD depreciation in Q4 2022 – reported EBITDA of MNOK 38 (48) • Strong balance sheet: MNOK 181 in cash, no interest-bearing debt, MNO
Slide 5: Key financials | Per quarter
Key financials | Per quarter Revenue (MNOK) Operational EBITDA (MNOK) & margin (%)1 160 50 47 40% 138 45 140 35% 128 125 39 39 122 40 120 30% 35 100 100 93 25% 30 84 25 79 25 20% 80 21 20 17 60 15% 15 12 13 40 10% 10 20 5% 5 0 0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2021 2021 2021
Slide 6: Shipyard solutions
Shipyard solutions Nytt bilde?
Slide 7: MUSD 10 contract in Q4 2022
SHIPYARD SOLUTIONS MUSD 10 contract in Q4 2022 • Customer: Dubai Maritime City • Newbuild contract for Syncrolift • Upgrade of two third-party shiplift systems • Execution in 2023 and early 2024
Slide 8: Order intake and backlog
Order intake and backlog Order intake per quarter (MNOK)1 Order backlog2 development (MNOK) 140 1200 1043 120 117 1000 975 948 105 894 100 838 824 795 800 763 80 69 600 60 400 40 31 28 24 20 16 200 0 0 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 2
Slide 9: Service – moving from ad-hoc to long term lifecycle partnership
SHIPYARD SOLUTIONS Service – moving from ad-hoc to long term lifecycle partnership Long-term recurring business model Lifetime partnership SHARE OF WALLET Guaranteed Total solution (fixed service prices, predictive Inspection maintenance, agreements (FSA) outsourcing) Spares (i.e. price list) Ad hoc
Slide 10: Service revenue continues to grow
SHIPYARD SOLUTIONS Service revenue continues to grow Service revenue as Order intake (MNOK): services Revenue (MNOK): services % of total revenue 100 95 80 20,0 % 90 68 18,0 % 17,5 % 70 80 16,0 % 73 60 70 14,0 % 50 46 60 12,0 % 10,1 % 50 40 10,0 % 9,5 % 9,6 % 34 40 27 8,0 % 30 30 28 25 6,0 % 20 20 4
Slide 11: Shipyard Solutions: High visibility and tendering activity
SHIPYARD SOLUTIONS Shipyard Solutions: High visibility and tendering activity Order backlog (MNOK) by execution year1 Tender pipeline (MNOK) for newbuild/upgrades by year1 of contract award 900 3.000 824 800 2.500 700 600 421 2.000 500 1.500 400 300 1.000 2.000 200 403 1.200 500 100 0 0 2023 2024 To
Slide 12: Impact technologies
Impact technologies
Slide 13: Digital Solutions
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Slide 14: Breakthrough contract for InteliWell joint venture
Breakthrough contract for InteliWell joint venture Potential door-opener to global rig market • Four-year contract with an undisclosed major rig operator • Rig to be equipped with InteliAutomate-solution which ensures automatic execution of pre-built optimized operational sequences, including: • Sta
Slide 15: Renewables
Renewables Photo: Unsplash.com
Slide 16: BMS: SkyWalker innovation partner
BMS: SkyWalker innovation partner • Favoured installation partner for several large international wind turbine manufacturers (OEMs) BMS’ role in partnership • Verification and benchmarking of SkyWalker installation tool • Provision of specialist know-how and technical information regarding logistics
Slide 17: Potential expansion of SkyWalker's commercial potential for offshore projects
Potential expansion of SkyWalker’s commercial potential, for offshore projects – driven by client requests Operations Installation Decommissioning & maintenance Installation of tower Major components Reverse installation of sections and major replacement (MCR) major components turbine components and
Slide 18: Aquaculture
ULTURE
Slide 19: Starfish: Pursuing scope for full-scale test of closed fish cage
Starfish: Pursuing scope for full-scale test of closed fish cage Scope of test • Nekkar to build first full-scale Starfish • Fish farmer to operate Starfish with biomass during full scale test Full scale Starfish • Double protection and protection against sea lice • Equipped for data acquisition, mo
Slide 20: Financial highlights
Financial highlights
Slide 21: Financial highlights
Nekkar ASA Financial highlights Consolidated statement of profit and loss Nekkar ASA Fourth quarter revenue of MNOK 125, representing a Q4 Full-Year Unaudited Unaudited Unaudited Audited decrease of ~9% year-on-year MNOK 2022 2021 2022 2021 Full-year 2022 revenue of MNOK 388 compared to MNOK Rev
Slide 22: Balance sheet
Nekkar ASA Balance sheet Condensed consolidated statement of financial position Unaudited Audited Unaudited Audited NOK'000 31.12.2022 31.12.2021 NOK'000 31.12.2022 31.12.2021 Share capital 11 746 11 714 Deferred tax assets 16 016 15 982 Other equity 319 503 285 238 Goodwill 16 643 16 643 Non-contro
Slide 23: Cash flow statement
Nekkar ASA Cash flow statement Condensed consolidated statement of cash flow Unaudited Audited NOK'000 2022 2021 Cash flow from operating activities Profit (loss) before tax 42 634 132 534 Operating cash flow of MNOK 38.0 compared to a negative cash flow of MNOK 54.6 in 2021 Adjustments for: Wor
Slide 24: Summary Q4 2022 & outlook
Summary Q4 2022 & outlook Summary Outlook Shipyard Backlog provides good visibility for 2023 and 2024 Strong Q4 revenue, operational EBITDA negatively affected by Solutions currency development – solid reported EBITDA High tendering activity Digital Successful implementation of InteliWell’s Or
Slide 25: Alternative performance measures
Nekkar ASA Alternative performance measures INTRODUCTION TO ALTERNATIVE PERFORMANCE MEASURES (APMs) PROFIT MEASURES Nekkar Group (Nekkar) discloses alternative performance measures in addition EBITDA is short for “earnings before interest, taxes, depreciation and to those normally required by IFRS.
Slide 26: nekkar.com
AY NEKKAR nekkar.com