Bouvet Asa · OSL:BOUV

Bouvet Asa — Q1 2020 Earnings Presentation

35 slides from Bouvet Asa's earnings presentation, May 19, 2020

  1. Slide 1: Interim presentation First quarter 2020

    Interim presentation First quarter 2020 19. May 2020 Sverre Hurum, CEO Erik Stubø, CFO

  2. Slide 2: Our services

    Our services Enterprise architecture Multi-channel strategy Innovation Business intelligence IT architecture Product strategy DevOps Test management Security Project management Agile Information management Digital strategy Service design Lean Data science GDPR Big Data Change mangement Consulting Di

  3. Slide 3: Remote work

    ~ CORS/ Authentication + cross origin requests: + Same Site Cookies: + CSRF: Cross , Str

  4. Slide 4: Breakfast seminars and courses

    Breakfast seminars and courses 4

  5. Slide 5: BouvetOne

    bouvet *** |} Power Platform for the enterprise 23.04.2020 18:00 Enetslder~Bowet Rogaland

  6. Slide 6: Highlights in the quarter

    Highlights in the quarter Revenue and number of employees MNOK and number o Revenue and EBIT 700 650 • Operating revenues increased by 13.6 percent 600 550 500 to NOK 641.2 million (y-o-y) 450 400 350 • EBIT increased by 20.0 percent to NOK 82.6 300 250 200 million (y-o-y) 150 100 50 o 1 575 employe

  7. Slide 7: We lead the way and build tomorrow’s society

    Bouvet’s vision We lead the way and build tomorrow’s society

  8. Slide 8: We will be the most credible consultancy with the most satisfied employees and clients

    Bouvet’s ambition We will be the most credible consultancy with the most satisfied employees and clients

  9. Slide 9: Long-term goals

    Long-term goals Best workplace Client-oriented and Successful business long-term relations

  10. Slide 10: Operational Review

    ©) Operational Review 10

  11. Slide 11: Public and private sector

    Public and private sector Public sector Private sector 50,9 % 50,2 % in Q1’19 49,8 % in Q1’19 49,1 % 11

  12. Slide 12: Business sectors Q1 2020

    Business sectors Q1 2020 Other Bank & finance Retail Transportation 5,0 % 1,9 % 3,4 % Power supply 5,7 % 12,9 % Service industry Health 4,4 % 2,1 % Industry 4,5 % Info and communication 5,0 % 27,9 % Oil & gas 27,2 % Public admin 12

  13. Slide 13: The four largest sectors

    The four largest sectors o Oil & gas • Increased by 22.5 percent (y-o-y) Forsvaret • Represents 27.9 percent of total revenues in Q1’20 o Public admin • Increased by 12.8 percent (y-o-y) • Represents 27.2 percent of total revenues in Q1’20 o Power supply • Increased by 46.1 percent (y-o-y) • Represe

  14. Slide 14: Bouvet’s contribution to the Covid-19 situation

    Bouvet’s contribution to the Covid-19 situation o City of Bergen • New reports for the crisis management team o Norwegian Tax Administration • Application form for business compensation scheme o Norwegian Institute of Public Health • Safety assessment of the “Stop Infection” application • Self-repor

  15. Slide 15: Unique digital collaboration

    Unique digital collaboration o AltInn Digital supports user-friendly communication and collaboration between the public and private sectors and with individuals • Supports development of digital forms and Illustration: Sandra Blikås, Byhands mails • Offers APIs which make it possible to develop and

  16. Slide 16: Enhanced information flow

    Enhanced information flow o The City of Oslo is building a new emergency ward. Its IT challenges are: • Emergency care functions need better and more holistic IT support • The flow of information is often disrupted • Information is locked down in silo systems o Results • Information flow throughout

  17. Slide 17: Customer and project mix

    Customer and project mix Variably priced contracts share of revenues Percentage o Project mix 100% • Variable contracts account for 98.8 percent of 98% total revenues 96% 94% o Customer portfolio 92% 90% • The 10 largest customers represent 42.8 percent Q1'16 Q1'17 Q1'18 Q1'19 Q1'20 of total revenue

  18. Slide 18: Customer development

    Customer development Revenue customer split MNOK o Existing customers* Existing customers* New customers (LTM)** • Accounted for 95.7 percent of revenues in Q1’20 700 o New customers** 600 • Customers won over the past year generated 500 revenues of NOK 27.4 million in Q1’20 400 300 200 100 * Existi

  19. Slide 19: Regional organisation

    Regional organisation Trondheim 141 Bouvet Nord ansatte 560 Bouvet Øst ansatte 46 Sesam ansatte 106 Bouvet Bergen Bergen Borlänge ansatte Sandvika Oslo Ørebro Stockholm Haugesund 532 Bouvet Rogaland Sandefjord ansatte Stavanger Skien Arendal Kristiansand 77 Bouvet Sverige ansatte 27 Konsernstab 86 B

  20. Slide 20: Enthusiastic and competent employees

    Enthusiastic and competent employees o 1 575 employees at the end of the quarter Number of employees end of quarter • Up 18 from Q4’19 2000 • 170 more employees in the past 12 months 1500 • Average number of employees in the quarter up 1000 12.3 percent from Q1’19 500 0 Q1'16 Q1'17 Q1'18 Q1'19 Q1'20

  21. Slide 21: Financial Review

    ©) Financial Review 21

  22. Slide 22: Key figures

    Key figures Three months ending Twelve months ending MNOK 31.03.2020 31.03.2019 Change 31.03.2020 31.03.2019 Change Operating revenue 641.2 564.3 13.6 % 2 209.0 1 948.8 13.4 % Operating profit (EBIT) 82.6 68.8 20.0 % 245.8 209.9 17.1 % EBIT margin 12.9 % 12.2 % 11.1 % 10.8 % Ordinary profit before t

  23. Slide 23: Revenue

    Revenue Revenue split (quarterly figures) MNOK Own consultants o Revenues increased by 13.6 percent y-o-y 700 Sub-contracted consultants 600 Other 500 • Revenues from own consultants increased by 16 percent 400 to NOK 544.6 million 300 200 • Revenues from sub-contracted consultants increased by 100

  24. Slide 24: Revenues from own consultants

    Revenues from own consultants Revenue per employee (quarterly figures) o Increased 16 percent y-o-y TNOK 400 • Positive impact from 12.3 percent increase in average 300 number of employees 200 • Positive impact from 3.8 percent increase in prices for group hourly services 100 • Negative impact from

  25. Slide 25: Analysis of change in revenues y-o-y

    Analysis of change in revenues y-o-y Revenue MNOK 70 60 57,7 50 40 30 21,9 20 10 7,5 5 0 -3,1 -5,1 -10 -7,0 -20 No. of employees Hourly rate Number of workdays Sub-contractors Other revenue Vacation, leave etc. Billing ratio 25

  26. Slide 26: Earnings

    Earnings EBIT and EBIT margin MNOK and Percent o Operating profit (EBIT) increased by 20 percent to 100 EBIT EBIT margin 14% NOK 82.6 million 12% 80 10% o EBIT margin of 12.9 percent compared to 12.2 60 8% percent in Q1’19 40 6% 4% 20 o Operating expenses increased by 12.7 percent y-o-y 0 2% 0% Q1'1

  27. Slide 27: Change in revenues – effect on EBIT

    Change in revenues – effect on EBIT Revenue MNOK 70 Change in Revenue Effect on EBIT 60 57,7 50 40 30 21,9 20 14,5 11,2 10 7,5 5,0 5,0 0,5 0 -0,7 -3,1 -2,7 -5,1 -4,7 -10 -7,0 -20 No. of employees Hourly rate Number of workdays Sub-contractors Other revenue Vacation, leave etc. Billing ratio 27

  28. Slide 28: Cash flow

    Cash flow Cash flow from operations (per quarter) o Cash flow from operations MNOK 250 • NOK 47.1 million in Q1’20 compared to NOK 4.3 million in 200 Q1’19 150 o Last 12 months 100 50 • Operational cash flow over the last 12 months was NOK 0 319.9 million -50 Q1'16 Q1'17 Q1'18 Q1'19 Q1'20 o Cash flo

  29. Slide 29: Outlook

    Outlook 29

  30. Slide 30: Industry impacts due to Covid-19 for Bouvet

    Industry impacts due to Covid-19 for Bouvet 30

  31. Slide 31: We have a good starting point

    We have a good starting point Stronger together Covid-19 makes the We have clients who Our employees handle future uncertain, but we trust us, and we jointly change and know how are well positioned to find new ways of to work remotely build tomorrow’s working society 31

  32. Slide 32: Outlook summary

    Outlook summary o High global uncertainty due to Covid-19 o Rapid change in society, customer behaviour and business models o High demand for system development o Decreased demand for service design and advisory o Increased demand for knowledge sharing and collaboration Photo: CDC, Alissa Eckert o I

  33. Slide 33: Appendix

    Appendix 33

  34. Slide 34: Shareholders as of 19.05.2020

    Shareholders as of 19.05.2020 Shareholders Number of shares % of total VIRTUS KAR INTERNATIONAL SMALL-CAP 1 066 570 10,41 % VARNER KAPITAL AS 870 000 8,49 % STENSHAGEN INVEST AS 586 699 5,72 % SVERRE HURUM 462 068 4,51 % VEVLEN GÅRD AS 453 502 4,42 % VERDIPAPIRFOND ODIN NORDEN 451 192 4,40 % VERDIPA

  35. Slide 35: Five largest clients per region

    Five largest clients per region Trondheim Forsvaret Bergen Borlänge Sandvika Oslo Ørebro Stockholm Haugesund Sandefjord Stavanger Skien Arendal Kristiansand 35

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