Slide 1: Presentation of the third quarter 2020 results
Presentation of the third quarter 2020 results CEO Per Jørgen Weisethaunet and CFO Per Kristian Reppe 28 October 2020, Oslo, Norway
Slide 2: Disclaimer
Disclaimer These materials, prepared by NORBIT ASA (the "Company"), may contain statements about future events and expectations that are forward- looking statements. Any statement in these materials that is not a statement of historical fact including, without limitation, those regarding the Company
Slide 3: NORBIT is to be recognized as world class, enabling people to explore more
NORBIT is to be recognized as world class, enabling people to explore more • Founded 1995 • HQ in Trondheim, Norway • Manufacturing facilities in Selbu and Røros, Norway • Offices and Subsidiaries in 14 countries • Listed on Oslo Børs, ticker NORBIT PAGE 3
Slide 4: A global provider of tailored technology to carefully selected niches
A global provider of tailored technology to carefully selected niches Diversified and robust business model Oceans is offering tailored technology Intelligent Traffic Systems (ITS) is offering Product Innovation & Realization (PIR) is solutions to global maritime markets tailored connectivity soluti
Slide 5: Highlights for the third quarter of 2020
Highlights for the third quarter of 2020 Revenues and EBITDA Third quarter of 2020 NOK million 200 50% ▪ Revenues of NOK 150 million, 3% down from Q319 187 o Strong quarter for Oceans, delivering all-time high 180 170 45% revenues 158 o Segment ITS had a challenging quarter as expected 154 152 155 1
Slide 6: Intelligent Traffic Systems (ITS)
DSRC solutions for satellite- based truck tolling Connectivity devices for smart tachograph Intelligent Traffic Systems (ITS)
Slide 7: Challenging quarter for ITS
Challenging quarter for ITS Revenues and EBITDA Third quarter of 2020 NOK million 70 ▪ Revenues of NOK 21.8 million, 65% decline from Q319 62 o Segment continue to remain affected by pandemic 60 o Volumes negatively affected by inventory build-up at some customers during 1H20 50 47 o Certain deliver
Slide 8: Oceans
epereegiere ar Oceans
Slide 9: Strong results from Oceans delivering all-time high revenues
Strong results from Oceans delivering all-time high revenues Revenues and EBITDA Third quarter of 2020 NOK million 90 ▪ Revenues of NOK 83.1 million, 64% growth from Q319 83 and 42% growth from Q220 81 80 o Americas region particularly strong, including delivery of award from governmental customer f
Slide 10: SeaDarQ software strengthens position in maritime environmental monitoring
SeaDarQ software strengthens position in maritime environmental monitoring 10
Slide 11: Acquisition of SeaDarQ software
Acquisition of SeaDarQ software ▪ Acquisition of SeaDarQ software SeaCOP SeaDarQ from Nortek Group ▪ Software includes radar raw data processing algorithms • System for environmental • Software for environmental monitoring and surveillance monitoring, hydrography and ▪ System to be integrated with s
Slide 12: Launch of WINGHEAD® - a new ultra-high resolution sonar
Launch of WINGHEAD® - a new ultra-high resolution sonar
Slide 13: Product Innovation & Realization (PIR)
Product Innovation & Realization (PIR)
Slide 14: PIR delivers revenues in line with Q319
PIR delivers revenues in line with Q319 Revenues and EBITDA Third quarter of 2020 NOK million 80 76 ▪ Revenues of NOK 51.3 million, in line with Q319 o Revenues from both contract manufacturing and 69 70 67 sales of R&D services were stable compared to Q319 63 60 60 57 54 ▪ EBITDA of NOK 2.1 million
Slide 15: Group financials
- eafilove mote - _ Group financials
Slide 16: Financials – P&L
Financials – P&L Amounts in NOK 000's Q3 2020 Q2 2020 Q3 2019 YTD 2020 YTD 2019 Third quarter of 2020 ▪ Revenues of NOK 150.0 million, 3% down from Q319 and Revenues 149 966 155 152 154 359 456 688 481 708 previous quarter Other gains and losses - - - - 10 865 o Strong quarter for Oceans, solid cont
Slide 17: Financials – Balance sheet
Financials – Balance sheet Amounts in NOK 000's 30.09.20 30.06.20 31.12.19 Fixed and intangible assets ASSETS ▪ Land and PPE: Increase of NOK 9.9 million related to investments in machinery and equipment and expansion capex at Røros Land and property, plant and equipment 124 004 114 058 78 653 ▪ Int
Slide 18: Financials – Cash Flow
Financials – Cash Flow Cash flow development Third quarter of 2020 NOK million ▪ Operating cash flow of NOK -7.9 million o Net increase in working capital of NOK 37.1 million, mainly explained by increase in accounts receivables ▪ Investing activities generated cash outflow of NOK 27.3 million (38.3
Slide 19: Outlook
- eafilove mote - _ Outlook
Slide 20: Outlook
Outlook ▪ Continuous uncertainty related to the pandemic o Level of impact varies across segments and regions o Travel restrictions impact global sales activities ▪ Oceans’ market outlook looks promising for Q4 o Sales of new sonar WINGHEAD® and delivery of SeaCOP expected to contribute positively t
Slide 21: Exploring is finding opportunities where others find limits
EXPLORING IS FINDING OPPORTUNITIES WHERE OTHERS FIND LIMITS
Slide 22: Shareholder overview updated 23 October 2020
Shareholder overview updated 23 October 2020 # Investor #shares % 1 VHF INVEST AS – founder Steffen Kirknes 8 686 495 15.30 2 PETORS AS – CEO Per Jørgen Weisethaunet 6 925 695 12.20 3 DRAUPNIR INVEST AS – family of founder Steffen Kirknes 5 702 949 10.04 4 EIDCO A/S 3 832 286 6.75 5 Taiga Investment