Kongsberg Gruppen Asa · OSL:KOG
Kongsberg Gruppen Asa — Q1 2021 Earnings Presentation
19 slides from Kongsberg Gruppen Asa's earnings presentation, 2021
Slide 1: Investor Presentation Q1 2021
INVESTOR PRESENTATION Q1 2021 Geir Håøy, President & CEO Gyrid Skalleberg Ingerø, EVP & Group CFO KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed w
Slide 2: Disclaimer
DISCLAIMER This presentation contains certain forward-looking information and statements. Such forward-looking information and statements are based on the current, estimates and projections of the Company or assumptions based on information currently available to the Company. Such forward-looking in
Slide 3: Highlights first quarter 2021
Highlights first quarter 2021 • Order intake: BNOK 7.64 • Book/bill: 1.20 • EBITDA: BNOK 0.88 (13.9%) • Increased cross-sales from KM/CM portfolio • Norway and Germany signed cooperation agreement for new submarines WORLD CLASS – Through people, technology and dedication KONGSBERG PROPRIETARY - See
Slide 4: Important contracts signed
Important contracts signed Wind Turbine Installation Vessel (WTIV) New agreement with Lockheed Martin Refit package to reduce emission to Dominion Energy for deliveries to the F-35 program to MS Gann Innovative low-emission Live Fish Carrier Upgrade of Norway’s NASAMS Air Four autonomous vessels (LF
Slide 5: Business update 1st quarter
Business update 1st quarter Kongsberg Maritime Kongsberg Defence & Aerospace Kongsberg Digital • Green upgrades and products launches • “Call-off” on OTH framework agreement • Continued ramp-up to deliver on new opportunities and existing commitments • Collaborative solutions for more efficient • KA
Slide 6: Financial status
Financial status Gyrid Skalleberg Ingerø, EVP & Group CFO WORLD CLASS – Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information 6
Slide 7: Increased order intake and improved EBITDA
Increased order intake and improved EBITDA Order intake and backlog Revenues EBITDA (BNOK) (BNOK) (BNOK, %) 36.87 33.34 13.9% 6.81 7.64 6.68 6.36 9.6% 0.88 12% -5% 0.64 37% Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 • Book/bill of 1.20 compared to book/
Slide 8: Cashflow 1st quarter 2021
Cashflow 1st quarter 2021 ~BNOK 0.36 in positive cashflow 1st quarter Comments (BNOK) ▪ Positive cashflow from operations (0.03) ▪ Share buy back includes both shares (0.14) (0.03) (0.12) purchased under the buyback program and 0.88 (0.14) 7.78 (0.08) employee share program 7.42 ▪ Currency effects r
Slide 9: Solid credit rating confirming financial policy
Solid credit rating confirming financial policy Updated bond maturity profile Comments ▪ Assigned “A-“ credit rating with “stable outlook” MNOK by Nordic Credit Rating in April 1 500 1 500 KOG14 ▪ Rating supports financial policy of having a solid 995 balance sheet 1 000 KOG12 ▪ Half of MNOK 1 000 J
Slide 10: Kongsberg Maritime
KONGSBERG MARITIME KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in pa rt, mus
Slide 11: Book/bill of 1.07 for KM in 1st quarter
Book/bill of 1.07 for KM in 1st quarter Order intake and book/bill Order backlog (BNOK) (BNOK) 12.40 12.11 11.83 11.39 11.48 1.45 2023 → 1.07 1.06 3.01 2022 4.81 4.07 7.02 2021 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Book-to-bill Order intake (BNOK) WORLD CLASS – Through people,
Slide 12: Cost reductions and improved margins offset reductions in revenues
Cost reductions and improved margins offset reductions in revenues Revenues EBITDA (BNOK) (BNOK, %) 4.54 3.81 -16% 11.2% 8.6% 0.39 0.43 10% Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 WORLD CLASS – Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Pro
Slide 13: Kongsberg Defence & Aerospace
KONGSBERG DEFENCE & AEROSPACE KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in
Slide 14: KDA backlog supports growth
KDA backlog supports growth Order intake Order backlog (BNOK) (BNOK) 23.48 24.47 19.98 19.66 18.76 10.10 2023 → 1.42 0.91 3.35 7.27 2022 1.77 7.09 2021 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Book-to-bill WORLD CLASS – Through people, technology and dedication KONGSBERG PROPRIETA
Slide 15: Revenue growth and solid EBITDA in KDA
Revenue growth and solid EBITDA in KDA Revenues EBITDA (BNOK) (BNOK, %) 2.35 20.0% 1.94 21% 11.9% 0.47 0.23 103% Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 WORLD CLASS – Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information 15
Slide 16: Kongsberg Digital
KONGSBERG DIGITAL KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in pa rt, must
Slide 17: Kongsberg Digital key figures and highlights
Kongsberg Digital Key figures Highlights (MNOK) ▪ Recurring revenues increased with 22% in Q1 2021 compared to Q1 2020 207 192 Revenues ▪ ~BNOK 1 in order backlog, 11% increase compared to Q1 2020 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 ▪ High investments and roll-out of new applications and solutions +22% 77
Slide 18: Outlook
OUTLOOK KONGSBERG DEFENCE KONGSBERG KONGSBERG & AEROSPACE MARITIME DIGITAL Current backlog secures growth in 2021 New-building market expected to Continued roll-out of KOGNITWIN® and remain challenging, however some Vessel Insight Efficient operations, project mix and positive signals in the market
Slide 19: Q&A
INVESTOR PRESENTATION Q&A KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in pa