Integrated Wind Solutions Asa · DUS:9UG1
Integrated Wind Solutions Asa — Investor Presentation (November 2023)
25 slides from Integrated Wind Solutions Asa's investor presentation, November 2023
Slide 1: Investor Presentation
Investor Presentation November 2023
Slide 2: Disclaimer
Disclaimer This presentation (the "Presentation") has been prepared by Integrated Wind Solutions ASA (the "Company" and together with its subsidiaries the "Group") for information purposes. This Presentation does not constitute an offer to sell or a solicitation of an offer to buy, or a recommendati
Slide 3: IWS | A fully integrated offshore wind solutions provider
IWS | A fully integrated offshore wind solutions provider 1) Clarksons 3 2) 30%* ownership. Fixed price option exercisable by September 2024 to acquire an additional 19%* of shares (*pre-dilution from share-based option program to key employees)
Slide 4: IWS business areas | Covering integrated services and asset management
IWS business areas | Covering integrated services and asset management Integrated Services Operations and Asset Management 100% 97%1) 30% → 49%3) Owner and operator of Electrical engineering & high-end CSOVs services and strategic A leading provider of wind advisory farm consultancy, operations and
Slide 5: Timeline | A transformative time since IPO has positioned IWS for strong growth
Timeline | A transformative time since IPO has positioned IWS for strong growth ProCon Group Bank loan Dogger Bank Bank loan IWS Services Entered into a CSOV charter Entered into a EUR acquires 75% committed term sheet contract 118.65m Green Successful IPO IWS Services2 Vessels Fleet stake in Danish
Slide 6: Offshore wind | Economics vs. the green ambitions
Offshore wind | Economics vs. the green ambitions 6 1) As of August 2023
Slide 7: Europe — Political targets
EUROPE — POLITICAL TARGETS The political 2030 ambitions in Europe sums up to +150GW The political ambitions are largely being driven by the UK and Germany which account for more than half of the total commitments. Offshore wind targets by 2030 As of Q2 2023, with recent developments from the war in
Slide 8: The Skywalker class CSOV's
The Skywalker class CSOV’s 8
Slide 9: IWS Fleet | Vessels under construction at CMI shipyard
IWS Fleet | Vessels under construction at CMI shipyard 1 2 3 4 IWS Skywalker IWS Windwalker IWS Seawalker IWS Starwalker In final commissioning Preparing for commissioning Launched 30 October Launched 30 October The steel-cut of newbuilding 5 and 6, IWS Moonwalker and IWS Sunwalker, is scheduled to
Slide 10: IWS Fleet | Low newbuilding prices → high cash flow yields
IWS Fleet | Low newbuilding prices → high cash flow yields Newbuilding yard prices1 (EUR million) ► Attractive free equity cash flow yields2 -30% IWS’s favourable capex leads to improved free cash flow yield in a rising market. IWS Fleet’s six CSOVs ordered at an attractive average fixed yard price
Slide 11: IWS Fleet | Well positioned to benefit from a strong market
IWS Fleet | Well positioned to benefit from a strong market Under construction Firm contracts Options Sea trial 11
Slide 12: "Skywalker Class" | Premium CSOVs designed for superior performance and efficiency
“Skywalker Class” | Premium CSOVs designed for superior performance and efficiency Premium tonnage with several benefits Design highlights Low-carbon footprint of vessels No conversion risk with ‘fit-for-purpose’ A Adjustable motion compensated gangway Energy- design saving ✓ Equipped with photovolt
Slide 13: Tier 1 vessels | Significant cost and emission advantage
Tier 1 vessels | Significant cost and emission advantage Overview of offshore wind service vessels Tier 1 vessels offer OPEX advantage1 • CSOV: Serving both the Commissioning OPEX (EUR/day) and installation phase by gangway, 3d ~55% cost crane, hotel, command center and advantage Tier 1: warehousing
Slide 14: Wind Farm Locations
Wind Farm Locations Location of the wind farm projects covered in the case-study W2W Days By Wind Farm 7 © + The case-study covers five European wind farms A 2 2 located in the North Sea. een. — Seagreen + The five wind farms are shown on the map. + The wind farms are located between 41 km and 111 k
Slide 15: Hornsea
Hornsea 2 Project specific W2W days per vessel & task W2W Days By Vessel Vessel Timeline >) + Hornsea Project 2 saw 2934 W2W days. © + W2W vessel activity started with Wind Innovation’s work on general construction work. This is an average of 17.8 days / turbine. + Horizon Star was the first vessel
Slide 16: IWS Services | Building a "one-stop shop" by integrating several service offerings
IWS Services | Building a “one-stop shop” by integrating several service offerings 1 2 3 The portfolio IWS Fleet & IWS IWS Services as companies as stand- Services as a full bundled services alone services service offering Service Co 3 Service Co 3 Service Co 4 Service Co 4 Service Co … Service Co …
Slide 17: IWS Services | Wide scope of services available to IWS and addressable by using CSOV
IWS Services | Wide scope of services available to IWS and addressable by using CSOV Target segments WTG Services OSS Services Scheduled and periodic IMR Scheduled and periodic IMR Blade inspections Topside Structures Transformers Bolt tensioning Electrical Systems Utility Systems Hydraulic systems
Slide 18: PEAK Wind | Renewable energy specialist delivering advisory, intelligence and asset management services
PEAK Wind | Renewable energy specialist delivering advisory, intelligence and asset management services Key value proposition Main business areas We have a unique understanding of your asset Combining our financial, commercial & technical competencies means we gain unique and in- depth insights acro
Slide 19: To summarise
To summarise 4) Delivering on strategy and business plan CSOVs soon to enter the market Record high activity expected in Europe for 2024 and 2025 The market for CSOVs is intact, even with recent project postponements/cancellations Robust cash position and debt financing in place for the first four n
Slide 20: Appendix
Appendix 20
Slide 21: Key financials | Q2 2023
Key financials | Q2 2023 Income statement ( Q1 2023 Q2 2023 Operating revenue 61,990 61,454 ; PEAK Wind share of net profit of NOK -0.2m less NOK 1.0m Share of net profit of associates 1,840 -1,191 amortisation of acquisition-related intangible assets. Total revenue 63,830 60,263 Operating expenses
Slide 22: Key financials | Q2 2023
Key financials | Q2 2023 Balance sheet (NOK '000) Q12023 © Q2 2023 Q1 2023 —Q2 2023 Vessels under construction 657,597 713,866 Share capital 78,289 78,289 Other fixed assets 4,192 21,392 Share premium reserve 1,288,986 1,288,976 Intangible assets 71,479 73,002 Retained earings 3,359 3,196 Investment
Slide 23: Management and BoD | Incentivized team with a track record of creating shareholder value
Management and BoD | Incentivized team with a track record of creating shareholder value Management team Board of Directors Lars-Henrik Røren – CEO Sigurd Einar Thorvildsen – Chairman of the Board ▪ +30 years experience from Investment Banking and Asset ▪ CEO of the Awilhelmsen Group Management Indu
Slide 24: IWS | Simplified structure
IWS | Simplified structure Integrated Wind Solutions ASA 30%, with 3-year option to increase to 49% of A-shares 100% 100% of voting shares, 97% of share capital IWS Services PEAK Wind Group IWS Fleet AS A/S ApS 100% 100% 100% IWS Fleet Green Ducklings 75% of share capital, Management AS A/S 100% of
Slide 25: iws@integratedwind.com integratedwind.com
iws@integratedwind.com integratedwind.com
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