M Vest Water As · OSL:MVW
M Vest Water As — Q2 2023 Earnings Presentation
20 slides from M Vest Water As's earnings presentation, Sep 12, 2023
Slide 1: 2023 Second Quarter and First Half Year Report
2023 SECOND QUARTER AND FIRST HALF YEAR REPORT September 12th 2023 CEO – Stein E. Giljarhus CFO – Morten Hilton Thomassen
Slide 2: Agenda
AGENDA 💧 Financial key figures 💧 Operational highlights 💧 Summary and outlook 💧 Q&A
Slide 3: Financial Key Figures
Financial Key Figures Financial Key Figures Figures in NOK million Q2 2023 1H 2023 Q2 2022 1H 2022 Revenues 3.6 6.4 0.5 0.9 Operating expenses 7.8 18.3 6 14.6 Operating profit (loss) (4,2) (11.9) (5.5) (13.6) Net profit (loss) before tax (4.4) (12.2) (5.7) (13.9) CAPEX and R&D capitalization 0.9 2.3
Slide 4: Operational highlights
Operational highlights
Slide 5: 4 Prioritized Market Segments
4 PRIORITIZED MARKET SEGMENTS • Oil & Gas – produced water, slop water • Aquaculture – fish farming, slaughterhouses • Municipal wastewater and sludge dewatering • Dredging water treatment and sludge-dewatering (River-, lake- and harbour sludge)
Slide 6: Oil & Gas – slop water
Operational highlights SAR Mongstad 1 Oil & Gas – slop water 5-year frame agreement with SAR AS: - supplying NORWAFLOC® products, extensive technical support, laboratory services and advisory in wastewater and sludge management across SAR’s 7 facilities in Norway MVW are now targeting to duplicat
Slide 7: Oil & Gas USA – produced water market size
Operational highlights SAR Mongstad 2 Oil & Gas USA – produced water Market size produced water North America 2,3 BUSD per year ! Strong driver for change – water has become a scarce resource limiting the oil production
Slide 8: Oil & Gas USA – produced water
Operational highlights SAR Mongstad 2 Oil & Gas USA – produced water Technological breaktrough for MVW’s technology Completed12-months testing and qualification within 6 different applications on a major US oilfield with one of the major operators: 1. Pretreatment for injection 2. Pretreatment for R
Slide 9: Oil & Gas USA – next steps after qualification
Operational highlights SAR Mongstad 2 Oil & Gas USA – produced water Next steps after our qualification at a large oil field Install MVW's technology in large scale pilot during Q4 2023, followed by operation within first half of 2024 Qualification project: People , equipment and chemicals treat
Slide 10: Aquaculture – land-based fish farming
Operational highlights SAR Mongstad 3 Aquaculture – land-based fish farming NORWAPOL® successfully installed at RAS Plant Contract awarded from Erko Settefisk AS in Q1 2023 NORWAPOL® was installed at Erko Settefisk’s RAS Plant at Stord, Norway in June 2023 to treat intake water Excellent perfo
Slide 11: Aquaculture – salmon slaughterhouses
Operational highlights SAR Mongstad 4 Aquaculture – salmon slaughterhouses Complete solution for treatment of water and sludge The salmon slaughterhouses in Norway faces new and strict discharge regulations from Dec 2023, with a one-year deadline for implementation of solution for water treatment
Slide 12: Aquaculture – salmon slaughterhouses complete solution
Operational highlights SAR Mongstad 4 Aquaculture – salmon slaughterhouses Complete solution for treatment of water and sludge Corporation agreement Downstream Marine secures access to 70% of the Norwegian market Alliance agreement with Bioretur AS for delivery of solution for sludge management
Slide 13: Overview water treatment and sludge management
Operational highlights – solution for salmon slaughterhouse industry 4 Overview water treatment and sludge management Sludge Management Out of DAF Mechanical de watering Dried Water treatment DS: 11,6 % DS: 25 % DS: 90 % Disinfeksjon Inlet, DAF OPEX down to 10 øre pr. kilogram slaughtered salmon
Slide 14: Aquaculture – salmon slaughterhouses market
Operational highlights SAR Mongstad 4 Aquaculture – salmon slaughterhouses Complete solution for treatment of water and sludge The market # of sites in Norway = 60 Total investments: - NOK 2-300 million Chemical treatment – estimate yearly consumption: NOK 100 million (recurring revenues)
Slide 15: Municipal wastewater Germany – the market
Operational highlights SAR Mongstad 5 Municipal wastewater Germany The market 9,600 municipal sewage plants in Germany produce 1.72 million tons of dry sludge per year The 300 largest from about 100,000 capita and above account for 80% of sewage sludge production Annually, 16,000 tons of polymer
Slide 16: Municipal wastewater Germany – new methods
Operational highlights SAR Mongstad 5 Municipal wastewater Germany MVW - new methods MVW has developed 2 new methods for sludge dewatering using NORWAFLOC®. The methods are being qualified full-scale at 6 plants in Q3 and Q4. The 6 plants treat in total sewage equivalent to 1,5 million people.
Slide 17: Municipal wastewater Germany – ongoing qualifications
Operational highlights 5 Municipal wastewater Germany 6 ongoing small- and full-scale qualifications MVW has now successfully finished pilots at two of these sites, catering cities for 250,000 and 70,000 people. Full-scale qualifications, scheduled to be finalized in October. Estimated annual
Slide 18: Summary and outlook
Summary and outlook Contract awards Strong development in several business areas: - Oil & Gas – slop water - Oil & Gas USA – produced water - Municipal wastewater – Germany - Aquaculture – salmon process facilities
Slide 19: Thank you for your attention – Q&A Session
Thank you for your attention Q&A Session
Slide 20: Disclaimer
Disclaimer The facts and information contained in this report contains information as known to the reporting date and is subject to future changes. Neither M Vest Water (the "Company") or related companies, affiliates, subsidiaries or management, supervisory board members, employees or advisors nor