Moreld Asa · OSL:MORLD

Moreld Asa — Q3 2024 Earnings Presentation

12 slides from Moreld Asa's earnings presentation, Dec 3, 2024

  1. Slide 1: Moreld Group Third quarter 2024

    Moreld Group Third quarter 2024 December 3rd, 2024 Geir Austigard, Group CEO Trond Rosnes , Group CFO

  2. Slide 2: Disclaimer

    Disclaimer Upon engaging with this corporate presentation (the "Presentation"), or participating in any related meeting or presentation, you (herein referred to as the "Recipient") consent to adhere to the stipulated terms, conditions, and limitations. The Presentation is a creation of Aurora Group

  3. Slide 3: Highlights

    Highlights Q3 Highlights  Excellent safety performance exemplified by Moreld Apply that has delivered 180,550 offshore hours on Gullfaks A without any reportable incidents  Strong operational performance with key milestones reached according to plan on several projects  Activity levels in the M&M

  4. Slide 4: Business update

    Business update Moreld Apply Ocean Installer Global Maritime  Continued solid performance  Another strong quarter with  Solid revenue and profits with in the large M&M projects high activity and strong continued strong activity within combined with increasing profitability, boosted by positive ma

  5. Slide 5: Financial performance – Q3 2024

    Financial performance – Q3 2024 Q3 Key performance indicators Q3 Financials in brief Revenue EBITDA excl. Backlog IFRS 16  Solid financial performance with strong cash 2,594 369 10.1 bn generation Excl. Capnor Excl. Capnor Contracted order  Strong cash position with 1.2 billion NOK in cash. The ba

  6. Slide 6: Financial performance last four quarters

    Financial performance last four quarters Revenue* EBITDA excl. IFRS 16* Leverage Ratio* 6.7 bn YTD 904 YTD 0.9x (Excl. Capnor) (Excl. Capnor) Net Debt 1,141 2,516 2,594 2,7 1,806 395 369 1,595 301 1,7 n.a. due to 141 different capital 0,9 structure Q4 23 Q1 24 Q2 24 Q3 24 Q4 23 Q1 24 Q2 24 Q3 24 Q3

  7. Slide 7: Solid order backlog from blue chip customers

    Solid order backlog from blue chip customers Backlog by year Contracted backlog by company 13,550 3,423 Options Moreld Apply 5,777 Contracted* 4,603 5,745 5,067 Global Maritime 45 10,127 Ocean Installer 3,378 2,028 5,732 2,367 457 2024 2025 >2026 Total  10.1 billion NOK order backlog end of Q3, wit

  8. Slide 8: Net working capital

    Net working capital Quarterly development in net working capital Comments Q3 23 Q4 23 Q1 24 Q2 24 Q3 24  Capital efficient operating model with high share of customer prepayments  Targeting prepayments on all major contracts. NWC position in Q4’23 driven by several large customer prepayment -228 

  9. Slide 9: Net interest-bearing debt

    Net interest-bearing debt Breakdown of Net interest-bearing debt Comments 4,024 1,223  Gross interest-bearing debt consists of the 225 million USD Senior Secured Notes issued by 654 Aurora Group Plc and lease liabilities accounted for under IFRS 16 569  197 million NOK in unused credit facilities

  10. Slide 10: Summary and outlook

    Summary and outlook Strong outlook backed by solid order backlog and favorable market conditions Summary Outlook  Strong operational performance with key  Activity levels in the M&M market are stabilizing milestones reached on several projects while marine operation and installation market continu

  11. Slide 11: Q&A

    Q&A 11

  12. Slide 12: For further information, contact Trond Rosnes

    For further information, contact Trond Rosnes - Group CFO trond.rosnes@moreld.com www.moreld.com Strictly confidential

Moreld Group — Q3 2024 Earnings Presentation on 6ix