Akva Group Asa · OSL:AKVA
Akva Group Asa — Q2 2011 Earnings Presentation
11 slides from Akva Group Asa's earnings presentation, Aug 9, 2011
Slide 1: Q2 2011 Presentation
08/08/2011 Q2 2011 Presentation Oslo, August 09, 2011 Trond Williksen, CEO Morten Nærland, CFO 1 Agenda Highlights Q2 2011 Financials Q2 2011 Way forward Q&A 2 1
Slide 2: Highlights
08/08/2011 Highlights 3 Recovery continues ● Growth in operating revenues – 2Q revenues 222.5 MNOK vs 176.3 last year – up 26%. ● EBITDA in 2Q was 14.0 MNOK compared to minus -11.9 MNOK last year - up 25,9 MNOK. EBIT was 6,0 MNOK versus minus - 19.5 in 2Q 2010 - up 25,5 MNOK ● High activity and stro
Slide 3: 2Q Financials – P&L group
08/08/2011 2 Q 2011 Financials 5 2 Q Financials – P&L group P&L 2011 2011 2010 2011 2010 2010 ● Operating revenues in 2Q 222.5 (MNOK) 2Q 2Q 1H 1H Total MNOK vs 176.3 MNOK last year OPERATING REVENUES 222,5 176,3 475,8 334,3 742,5 ● Main drivers Chile helped by the Operating costs ex depreciations 20
Slide 4: 2Q P&L segments - Hardware and Software
08/08/2011 2 Q P&L segments - Hardware P&L 2011 2011 2010 2011 2010 2010 (MNOK) 2Q 2Q 1H 1H Total HARDWARE OPERATING REVENUES 184,3 136,8 383,4 254,7 574,5 Operating costs ex depreciations 167,0 135,8 347,7 251,2 557,6 EBITDA 17,3 1,0 35,7 3,6 16,8 Depreciation 5,9 4,6 11,6 9,2 19,7 EBIT 11,4 -3,6 2
Slide 5: 2Q P&L segments - RAS and market segments
08/08/2011 2 Q P&L segments - RAS P&L 2011 2011 2010 2011 2010 2010 (MNOK) 2Q 2Q 1H 1H Total RAS OPERATING REVENUES 11,0 13,9 35,2 28,0 62,0 Operating costs ex depreciations 15,8 27,2 40,3 45,9 97,7 EBITDA -4,7 -13,4 -5,1 -17,9 -35,8 Depreciation 0,3 0,2 0,6 0,5 1,3 EBIT -5,1 -13,6 -5,7 -18,4 -37,0
Slide 6: Order backlog and inflow; New markets
08/08/2011 Order backlog and inflow Order backlog (MNOK) MNOK 400 373 350 316 348 342 The order backlog was 342 MNOK 305 300 263 260 270 279 at the end of 2 Q. 253 250 200 203 204 200 183 150 Up 8,2 % from 2010 100 50 0 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 Order infl
Slide 7: Balance Sheet
08/08/2011 Balance Sheet BALANCE SHEET 2011 2010 2010 (MNOK) 30.06. 30.06. 31.12. Intangible fixed assets 207,2 214,0 215,9 Fixed assets 41,0 38,3 41,6 Long-term financial assets 37,8 29,5 39,4 FIXED ASSETS 286,0 281,8 297,0 Stock 181,4 138,3 157,7 Trade receivables 234,0 162,1 177,8 Other receivabl
Slide 8: Cash flow statement; Way ahead
08/08/2011 Cash flow statement CASH FLOW STATEMENT 2011 2010 2011 2010 2010 (NOK 1 000) 2Q 2Q YTD YTD Total Net cash flow from operational activities -817 -16 428 8 825 -4 667 -793 Net cash flow from investment activities -7 971 -4 706 -12 743 -8 901 -23 175 Net cash flow from financial activities 4
Slide 9: Cautious optimists
08/08/2011 Cautious optimists ● Market fundamentals in main market - the salmon industry – remains fairly good even if the salmon prices have fallen from record high levels ● The Chilean market developed very strong in 2Q and business volume in 2011 will be well over 2010 ● Other markets shows posit
Slide 10: Polarcirkel EcoNet; Recommendation Mandatory Bid
08/08/2011 Polarcirkel EcoNet ● Polarcirkel EcoNet introduced at Aqua Nor in Trondheim. Innovation within net technology providing: ● High durability ● Escape prevention ● Maximized water flow ● No need of antifouling ● Easily recyclable ● A practical solution on main challenges for the industry 19
Slide 11: AKVA group
08/08/2011 AKVAGRovuP 11