Bouvet Asa · OSL:BOUV
Bouvet Asa — Q3 2021 Earnings Presentation
27 slides from Bouvet Asa's earnings presentation, Nov 9, 2021
Slide 1: Interim Presentation Third Quarter 2021
INTERIM PRESENTATION THIRD QUARTER 2021 10 November 2021 Per Gunnar Tronsli, CEO Trude Hole, CFO
Slide 2: Highlights in the quarter
Highlights in the quarter Revenue MNOK 800 Revenue and EBIT 700 600 • Operating revenues increased by 12.5 percent 500 400 to NOK 583.6 million (y-o-y) 300 200 100 • EBIT increased by 11.5 percent to NOK 61.6 million 0 Q3'17 Q3'18 Q3'19 Q3'20 Q3'21 (y-o-y) 1 833 employees Number of employees 2000 •
Slide 3: Bouvet's vision
Bouvet’s vision We lead the way and build tomorrow’s society
Slide 4: Long-term goals
Long-term goals Client-oriented Best Successful and long-term workplace business relations Interim presentation Third quarter 2021 4
Slide 5: Operational Review
OPERATIONAL REVIEW a».
Slide 6: Public and private sector
Public and private sector Q3'21 Q3'20 47.6 % 45.5 % 54.5 % 52.4 % Public sector Private sector Interim presentation Third quarter 2021 6
Slide 7: Business sectors
Business sectors Retail Other Health Industry Info and Transportation communication 3.9 % 3.8 % 3.5 % Service industry 2.5 % 5.4 % 5.1 % 5.1 % 16.9 % Power supply Oil & gas 32.7 % 21.1 % Public admin Interim presentation Third quarter 2021 7
Slide 8: Statnett - North Sea Link has begun operation
Statnett - North Sea Link has begun operation https://www.bbc.com/news/uk-england-tyne-58772572 Interim presentation Third quarter 2021 8
Slide 9: JOTUN - Multicolor
JOTUN - Multicolor • Bouvet is to develop new software for Jotun’s Multicolor system • This solution will be used on all Jotun’s colour tinting machines in 100 countries worldwide • It will greatly simplify distribution of new colour charts as fashions change or differ between regions • Store staff
Slide 10: The four largest sectors
The four largest sectors Oil & gas • Increased by 38.6 percent (y-o-y) • Represents 32.7 percent of total revenues in Q3’21 Public admin • Decreased by 9.1 percent (y-o-y) • Represents 21.1 percent of total revenues in Q3’21 Power supply • Increased by 12.5 percent (y-o-y) • Represents 16.9 percent
Slide 11: Customer mix
Customer mix Customer portfolio 10 largest customers share of revenues Percentage 60% • The 10 largest customers represent 53.8 percent 50% of total revenues – up from 47.2 percent in Q3’20 40% • The 20 largest customers represent 61 percent of 30% total revenues – up from 56.6 percent in Q3’20 20%
Slide 12: Customer development
Customer development Existing customers* Revenue customer split MNOK • Accounted for 95.7 percent of revenues in Q3’21 700 Existing customers* New customers (LTM)** 600 New customers** 500 • Customers won over the past year generated revenues of NOK 25 million in Q3’21 400 300 200 100 * Existing cus
Slide 13: Local presence
Local presence Trondheim 169 Bouvet Nord 657 Bouvet Øst 32 Sesam 148 Bouvet Bergen Bergen Borlänge Oslo Ørebro Stockholm Drammen Sandvika Haugesund Bouvet Sandefjord 619 Rogaland Stavanger Porsgrunn Arendal Kristiansand 77 Bouvet Sverige 32 Group services 99 Bouvet Sør Interim presentation Third qua
Slide 14: Enthusiastic and competent employees
Enthusiastic and competent employees 1 833 employees at the end of the quarter Number of employees end of quarter 2000 • Up 85 from Q2’21 1500 • 183 more employees in the past 12 months 1000 500 • Average number of employees in the quarter up 0 Q3'17 Q3'18 Q3'19 Q3'20 Q3'21 10.9 percent from Q3’20 A
Slide 15: Financial Review
FINANCIAL REVIEW |
Slide 16: Key figures
Key figures Three months ending Nine months ending Twelve months ending MNOK 30.09.2021 30.09.2020 Change 30.09.2021 30.09.2020 Change 30.09.2021 30.09.2020 Change Operating revenue 583.6 518.9 12.5 % 1 955.5 1 756.2 11.3 % 2 601.1 2 344.8 10.9 % Operating profit (EBIT) 61.6 55.2 11.5 % 236.2 223.0
Slide 17: Revenue
Revenue Revenues increased by 12.5 percent y-o-y Revenue split (quarterly figures) MNOK Own consultants Sub-contracted consultants • Revenues from own consultants increased by 14 800 Other 600 percent to NOK 500.8 million 400 200 • Revenues from sub-contracted consultants 0 increased by 5.2 percent
Slide 18: Revenues from own consultants
Revenues from own consultants Increased 14 percent y-o-y Revenue per employee (quarterly figures) TNOK 400 • Positive impact from 10.9 percent increase 300 in average number of employees 200 100 • Positive impact from 2.4 percent increase 0 Q3'17 Q3'18 Q3'19 Q3'20 Q3'21 in price for group hourly ser
Slide 19: Analysis of change in revenues y-o-y
Analysis of change in revenues y-o-y Revenue MNOK 50 46.6 40 30 20 10.4 10 7.1 3.3 0.3 0 -3.0 -10 No. of employees Hourly rate Billing ratio Sub-contractors Other effects Progress in projects Interim presentation Third quarter 2021 19
Slide 20: Earnings
Earnings • Operating profit (EBIT) increased by 11.5 percent to EBIT and EBIT margin MNOK and Percent NOK 61.6 million 100 EBIT EBIT margin 16% 14% 12% • EBIT margin of 10.6 percent equal to Q3’20 10% 50 8% 6% • Operating expenses increased by 12.6 percent y-o-y 4% 2% 0 0% • General growth in pay ra
Slide 21: Other operating expenses
Other operating expenses Other OpEx split (quarterly figures) MNOK Increased 69.6 percent y-o-y Travel, courses, recruitments and social events Other 60 • Travel, courses, recruitments and social events 50 40 increased by 211.4 percent to NOK 19.9 million 30 20 10 • Other costs increased by 24.3 per
Slide 22: Change in revenues – effect on EBIT
Change in revenues – effect on EBIT MNOK 14 Effect on EBIT 12.9 12 10 8.1 8 6 5.5 4 2 0.3 0.1 0 -2 -2.4 -4 No. of employees Hourly rate Billing ratio Sub-contractors Other effects Progress in projects Interim presentation Third quarter 2021 22
Slide 23: Cash flow
Cash flow Cash flow from operations (per quarter) Cash flow from operations MNOK • NOK 28.9 million in Q3’21 compared to NOK 41.3 250 200 million in Q3’20 150 100 50 Cash flow last 12 months 0 -50 Q3'17 Q3'18 Q3'19 Q3'20 Q3'21 • Operational cash flow over the last 12 months was Cash flow from operat
Slide 24: Outlook
OUTLOOK
Slide 25: Outlook summary
Outlook summary • Transformation to renewable energy drives digitalisation • High demand for cross- functional teams • High demand for all services • High focus on talent management and recruitment Interim presentation Third quarter 2021 25
Slide 26: Appendix
APPENDIX Interim presentation Third quarter 2021
Slide 27: Shareholders as of 10.11.2021
Shareholders as of 10.11.2021 Shareholders Number of shares % of total The Bank of New York Mellon 8 480 711 8,24 % FOLKETRYGDFONDET 7 549 300 7,34 % VARNER KAPITAL AS 6 591 000 6,41 % STENSHAGEN INVEST AS 5 366 990 5,22 % VERDIPAPIRFOND ODIN NORDEN 4 512 150 4,39 % SVERRE FINN HURUM 3 609 060 3,51