Slide 1: Q3 2018 Presentation
Q3 2018 Presentation October 22, 2018
Slide 2: Our Focus and Offerings
Our Focus and Offerings We develop, sell and deliver innovative technical solutions to create superior value by improving performance and reducing risk. Focus on products and services within: • Fuel and materials testing • Fuel and reactor management software • Life cycle management of nuclear and r
Slide 3: Global Nuclear Power Market
Global Nuclear Power Market • Western Europe, the USA and Japan: cost pressure from alternative sources of energy • Life extension programs instead of new build • Decommissioning of older plants • Delayed new build of nuclear plants in Finland, UK and France • Germany: phasing out • Russia: signific
Slide 4: Broaden our services to other industries
Broaden our services to other industries • Using Studsvik extensive experience in the nuclear sector to develop profitable applications outside the nuclear power market • Automated manufacturing and handling of nuclear isotopes used in medical instruments and industrial applications • Waste manageme
Slide 5: Financial performance
Financial performance July- July- January- January- September September September September Full year 2018 2017 2018 2017 2017 Sales, SEK million 167.2 183.3 538.6 539.5 704.8 Gross margin,% 24.9 30.8 25.1 25.1 23.5 Operating Profit, SEK million 9.5 15.5 33.7 -5.9 -41.6 Operating margin, % 5.7 8.5 6
Slide 6: Analysis of key ratio development Q3
Analysis of key ratio development Q3 • Sales SEK 167.2 (183.3) million • Gross margin 24.9 (30.8) per cent • Operating result SEK 9.5 (15.5) million • Restructuring costs SEK 3.8 (0.1) million • SEK 13.5 million gain from sale of Horsviks Gård • Free cash flow SEK -0.8 (-10.4) million • Mixed develo
Slide 7: Key Offerings – Consultancy Services
K E Y O F F E R I N G S – C O N S U LTA N C Y S E R V I C E S We m a n a g e R a d i o a c t i v e H a z a r d s t o ke e p o u r c u s t o m e r s S a f e Repository Engineering Radioactive Waste Optimization – Wa ste M gmt P ro ce sse s Management - S afet y A n a l ysi s, L i ce n si n g a n d P
Slide 8: Financial performance – Consultancy Services
Financial performance – Consultancy Services July- July- January- January- September September September September Full year 2018 2017 2018 2017 2017 Sales, SEK million 18.8 39.8 59.4 101.5 123.0 Operating Profit, SEK million -8.7 15.5 -7.6 15.8 11.3 Operating Profit margin, % -46.3 38.9 -12.8 15.6
Slide 9: Operational highlights – Consultancy Services
Operational highlights – Consultancy Services • Sales SEK 18.8 (39.8) million • Operating profit SEK -8.7 (15.5) million • Restructuring costs SEK 2.5 (2.6) million • Comparable operating profit -6.2 (18.1) • YTD operating profit SEK -7,6 (15,8) million • Q3 last year included SEK 22 million FBSR li
Slide 10: Key Offerings – Fuel & Materials Technology
K E Y O F F E R I N G S – F U E L & M AT E R I A L S T EC H N O LO GY Fu e l & M a te r i a l s L i fe C y c l e Fuel Qualification Plant Life Hot Cell Management Technologies Final & Interim Transport of Engineering Storage Research Irradiated Materials 2018-10-22 Interim Report Third Quarter 2018
Slide 11: Financial performance – Fuel- & Materials Technology
Financial performance – Fuel- & Materials Technology July- July- January- January- September September September September Full year 2018 2017 2018 2017 2017 Sales, SEK million 40.0 36.0 159.9 140.6 195.0 Operating Profit, SEK million 0.7 -3.6 18.4 7.1 5.3 Operating Profit margin, % 1.8 -10.0 11.5 5
Slide 12: Operational highlights – Fuel & Materials Technology
Operational highlights – Fuel & Materials Technology • Sales SEK 40.0 (36.0) million • Operating profit SEK 0.7 (-3.6) million • YTD operating profit SEK 18.4 (7.1) million • Q3 is vacation season and a soft quarter • Efficiency problems in production having negative impact on margin • Part of Hot c
Slide 13: Key Offerings - Scandpower Nuclear Analysis Software & Services
KEY OFFERINGS - SCANDPOWER Nuclear Analysis Software & Services Fuel Design, Core Design, Core Used Fuel Analysis & Monitoring & Plant Performance Management (Interim and Optimization Permanent Storage) New and Advanced Operator Training Consulting, Reactor Design & Simulation Engineering Services L
Slide 14: Financial Performance – Scandpower
Financial Performance – Scandpower July- July- January- January- September September September September Full year 2018 2017 2018 2017 2017 Sales, SEK million 31.2 19.6 97.8 56.4 81.0 Operating Profit, SEK million 1.2 -2.7 20.9 -9.8 -11.8 Operating Profit margin, % 3.8 -13.8 21.4 -17.4 -14.6 Investm
Slide 15: Operational highlights – Scandpower
Operational highlights – Scandpower • Sales SEK 31.2 (19.6) million • Operating profit SEK 1.2 (-2.7) million • YTD operating profit SEK 20.9 (-9.8) million • Acceptable performance in Q3 software sales, maintenance, services and training • Full SEK 38 million of TVEL order delivered, SEK 8 million
Slide 16: Key Offerings - Germany Decommissioning and Radiation Safety
KEY OFFERINGS - GERMANY D e c o m m i s s i o n i n g a n d R a d i a t i o n S a fe t y Nuclear Decommissioning Radiation Safety & - Ra d i o l o gi ca l i nve nto ry, Protection ch a ra cte ri zati o n & cl e a ra n ce 2018-10-22 Interim Report Third Quarter 2018
Slide 17: Financial Performance - Germany
Financial Performance - Germany July- July- January- January- September September September September Full year 2018 2017 2018 2017 2017 Sales, SEK million 78.3 81.9 219.6 226.6 291.1 Operating Profit, SEK million 2.5 10.7 -2.6 0.4 -8.4 Operating Profit margin, % 3.2 13.1 -1.2 0.2 -2.9 Investments,
Slide 18: Operational highlights - Germany
Operational highlights - Germany • Sales SEK 78.3 (81.9) million • Operating profit SEK 2.5 (10.7) million • Restructuring costs SEK 0 (2.5) million • YTD operating profit SEK -2.6 (0.4) million • Q3 results below expectation • Parallel revision periods at customer plants created resource constraint
Slide 19: Appendix
Appendix 2018-10-22 Interim Report Third Quarter 2018
Slide 20: Balance sheet
Balance sheet September 2018 September 2017 December 2017 Assets Non-current assets 475.9 431.8 456.6 Current assets 434.8 419.3 368.3 Total assets 910.7 851.1 824.9 Equity and liabilities Equity 320.4 309.9 288.1 Non-controlling interest 0.3 0.3 0.3 Non-current liabilities 163.7 358.7 364.7 Current
Slide 21: Interim Report Third Quarter 2018
2018-10-22 Interim Report Third Quarter 2018