Slide 1: Interim Presentation First Quarter 2022
INTERIM PRESENTATION FIRST QUARTER 2022 Per Gunnar Tronsli, CEO Trude Hole, CFO
Slide 2: Highlights in the quarter
Highlights in the quarter Revenue MNOK 800 700 600 500 400 Revenue and EBIT 300 200 100 • Operating revenues increased by 17.3 percent 0 Q1'18 Q1'19 Q1'20 Q1'21 Q1'22 to NOK 816.5 million (y-o-y) • EBIT increased by 35.2 percent to NOK 122.8 Number of employees million (y-o-y) 2000 1500 1 879 employ
Slide 3: Vi er samfunnsbyggere
VI ER SAMFUNNSBYGGERE INTERIM PRESENTATION
Slide 4: Our ambition
OUR AMBITION We will be the most credible consultancy with the most satisfied employees and clients INTERIM PRESENTATION 4
Slide 5: Operational review
OPERATIONAL REVIEW INTERIM PRESENTATION
Slide 6: Public and private sector
Public and private sector Q1’22 Q1’21 45.6 % 47.3 % 52.7 % 54.4 % Public sector Private sector INTERIM PRESENTATION 6
Slide 7: Business sectors
Business sectors Retail Other Health Industry Info and Transportation 3.4 % communication 3.7 % 3.4 % 4.0 % Service industry 4.9 % 4.5 % 5.6 % 16.1 % Power supply Oil & gas 34.4 % 20.0 % Public admin INTERIM PRESENTATION 7
Slide 8: Boliden Green Zinc Odda 4.0
Boliden Green Zinc Odda 4.0 • Aims to be the world's most environment-friendly and efficient zinc plant • Boliden is one of the world´s largest mining and smelting companies, with operations all over Europe • One of Norway´s biggest onshore industry 4.0 projects • NOK 7 billion in investment to incr
Slide 9: Bane NOR
Bane NOR A strategic relationship spanning 2 decades Our deliveries include: • customer information systems • traffic planning, short and long term • train operating systems supporting all rail services in Norway • predictive maintenance of rail infrastructure through IOT • energy billing in the fol
Slide 10: City of Oslo
City of Oslo Low-code data platform made the Covid-19 pandemic easier for the City of Oslo to handle • Pasinfo is the Oslo health agency’s central platform and ecosystem for health data • The platform delivers data as well as process and decision support to 3 000 users in the City of Oslo • Adapted
Slide 11: The four largest sectors
The four largest sectors Oil & gas • Increased by 45.4 percent (y-o-y) • Represents 34.4 percent of total revenues in Q1’22 Public admin • Decreased by 3.7 percent (y-o-y) • Represents 20 percent of total revenues in Q1’22 Power supply • Increased by 9 percent (y-o-y) • Represents 16.1 percent of to
Slide 12: Customer mix
Customer mix Customer portfolio 10 largest customers share of revenues Percentage • The 10 largest customers represent 55.2 60% percent of total revenues – up from 49.6 50% percent in Q1’21 40% • The 20 largest customers represent 63.5 30% percent of total revenues – up from 58.2 20% percent in Q1’2
Slide 13: Customer development
Customer development Existing customers* Revenue customer split MNOK • Accounted for 96.6 percent of revenues in Q1’22 900 Existing customers* New customers (LTM)** 800 New customers** 700 • Customers won over the past year generated 600 revenues of NOK 27.8 million in Q1’22 500 400 300 200 100 * Ex
Slide 14: Bouvet One
BOUVET ONE 67 hours of sharing in one night
Slide 15: New office in Tromsø
New office in Tromsø • We have worked with clients in northern Norway for almost 20 years • We want to get closer to these clients, important industries and the educational sector in this region • Exciting mix of private and public businesses • Tromsø is a centre for aquaculture and fishing, and a d
Slide 16: Local presence
Local presence 176 Bouvet Nord 637 Bouvet Øst 150 Bouvet Bergen 35 Sesam 666 Bouvet Rogaland 36 Fellesfunksjon 101 Bouvet Sør 78 Bouvet Sverige INTERIM PRESENTATION 16
Slide 17: Enthusiastic and competent employees
Enthusiastic and competent employees 1 879 employees at the end of the quarter Number of employees end of quarter 2000 • Up 38 from Q4’21 1500 • 195 more employees in the past 12 months 1000 500 • Average number of employees in the quarter up 0 11.6 percent from Q1’21 Q1'18 Q1'19 Q1'20 Q1'21 Q1'22 A
Slide 18: Financial review
FINANCIAL REVIEW INTERIM PRESENTATION
Slide 19: Key figures
Key figures Three months ending Twelve months ending MNOK 31.03.2022 31.03.2021 Change 31.03.2022 31.03.2021 Change Operating revenue 816.5 695.9 17.3 % 2 815.7 2 456.5 14.6 % Operating profit (EBIT) 122.8 90.8 35.2 % 372.0 322.8 15.2 % EBIT margin 15.0 % 13.1 % 13.2 % 13.1 % Ordinary profit before
Slide 20: Revenue
Revenue Revenues increased by 17.3 percent y-o-y Revenue split (quarterly figures) MNOK Own consultants Sub-contracted consultants • Revenues from own consultants increased by 1000 Other 800 18.7 percent to NOK 698.5 million 600 400 • Revenues from sub-contracted consultants 200 0 increased by 5.5 p
Slide 21: Revenues from own consultants
Revenues from own consultants Increased 18.7 percent y-o-y Revenue per employee (quarterly figures) TNOK 400 • Positive impact from 11.6 percent increase in 300 average number of employees 200 100 • Positive impact from 3.1 percent increase in 0 price for group hourly services Q1'18 Q1'19 Q1'20 Q1'2
Slide 22: Analysis of change in revenues y-o-y
Analysis of change in revenues y-o-y Revenue MNOK 100 77.4 80 60 40 19.5 18.9 20 10.1 5.7 4.7 4.6 0 -5.9 -20 -14.4 No. of employees Hourly rate Billing ratio No. of work days Other income Sub-contractors Vacation Other effects Sick leave INTERIM PRESENTATION 22
Slide 23: Earnings
Earnings • Operating profit (EBIT) increased by 35.2 percent to EBIT and EBIT margin MNOK and Percent NOK 122.8 million 150 EBIT EBIT margin 16% 14% 12% • EBIT margin of 15 percent compared to 13.1 percent 100 10% 8% in Q1’21 50 6% 4% 2% • Operating expenses increased by 14.7 percent y-o-y 0 Q1'18 Q
Slide 24: Other operating expenses
Other operating expenses Other OpEx split (quarterly figures) MNOK Travel, courses, recruitments and social events Other Increased 29.7 percent y-o-y 60 50 • Travel, courses, recruitments and social events 40 30 increased by 29.7 percent to NOK 14.5 million 20 10 • Other costs increased by 29.7 perc
Slide 25: Change in revenues – effect on EBIT
Change in revenues – effect on EBIT MNOK 30 Effect on EBIT 25 23.5 20 15 12.8 12.4 10 6.6 5 2.0 0.4 0.7 0 -5 -4.2 -6.9 -10 No. of employees Hourly rate Billing ratio No. of work days Other income Sub-contractors Vacation Other effects Sick leave INTERIM PRESENTATION 25
Slide 26: Cash flow
Cash flow Cash flow from operations (per quarter) Cash flow from operations MNOK • NOK 90 million in Q1’22 compared to NOK 21.5 250 200 million in Q1’21 150 100 Cash flow last 12 months 50 0 • Operational cash flow over the last 12 months was Q1'18 Q1'19 Q1'20 Q1'21 Q1'22 -50 Cash flow from operatio
Slide 27: Outlook
OUTLOOK A
Slide 28: Outlook summary
Outlook summary • Energy transformation drives digitalisation • High demand for local deliveries • High demand for cross- functional teams • Increased demand for services as: • Advisory • Design • Low-code/no-code • Security • High competition for talents INTERIM PRESENTATION 28
Slide 29: Appendix
APPENDIX Interim presentation First quarter 2022 INTERIM PRESENTATION
Slide 30: Shareholders as of 19.05.2022
Shareholders as of 19.05.2022 Shareholders Number of shares % of total The Bank of New York Mellon (nominee acc.) 7 801 702 7,52 % FOLKETRYGDFONDET 7 387 403 7,12 % VARNER KAPITAL AS 6 051 000 5,83 % STENSHAGEN INVEST AS 5 366 990 5,17 % VERDIPAPIRFOND ODIN NORDEN 4 686 496 4,51 % SVERRE FINN HURUM