Nrc Group Asa · OSL:NRC
Nrc Group Asa — Q1 2025 Earnings Presentation
21 slides from Nrc Group Asa's earnings presentation, May 16, 2025
Slide 1: 1st quarter 2025
1 quarter 2025 st CEO Anders Gustafsson CFO Åsgeir Nord
Slide 2: Summary from CEO
Summary from CEO Established solid foundation last year Change of main reporting KPI to clean EBIT All-time high order backlog Secured major contracts in the first quarter, strong order intake especially in Norway and Sweden Initiated program in Norway to improve operational efficiency Promising ten
Slide 3: Key figures Q1 2025
First quarter reflects both strategic and operational progress Key figures Q1 2025 Revenue EBIT EBIT margin NOK 1.3 billion NOK -27 million -2.1% Q1 2024: NOK 1.3 billion Q1 2024: NOK -99 million (EBIT adj. NOK -43 million) Q1 2024: -7.5% (EBIT adj. margin -3.3%) Order intake Operating cash flow Ord
Slide 4: Strengthen order backlog to all-time-high ~ NOK 9 billion
Strengthen order backlog to all-time-high ~ NOK 9 billion Backlog Order intake & Book-to-bill LTM Order backlog (total) Order backlog execution NOK million NOK million NOK million 2,0 1,8 1,8 8 875 2 493 8 200 7 982 8 195 7 971 4 954 2 238 1,6 7 766 4 646 2 024 6 940 6 765 1,4 6 613 3 921 1 817 1,2
Slide 5: Committed to providing a safe and secure workplace
Committed to providing a safe and secure workplace Health and safety LTI1 Sickness absence Serious injuries2 4,2 % 6,0 5,6 2 2 4,7 4,5 3,8 % 3,7 % 3,7 % 0 0 2022 2023 2024 LTM Q1 2022 2023 2024 LTM Q1 2022 2023 2024 YTD Q1 2025 2025 2025 1. LTI: Injuries resulting in absence at least one full day pe
Slide 6: Q1 season activity level, overall good project portfolio progress
Q1 season activity level, overall good project portfolio progress Profit & loss Revenue and EBIT (Amounts in NOK million) Q1 2025 Q1 2024 FY 2024 NOK million and percent Revenue 1 264 1 306 6 892 Operating expenses -1 238 -1 301 -6 790 Other income and expenses 0 -56 -77 2 103 100 20 73 Depreciation
Slide 7: Norway: Improved margin and focus on improving operational efficiency
Norway Improved margin and focus on improving operational efficiency Operational review NRC Group Norway Revenue and EBIT Order backlog (total) NOK million and percent 50 NOK million 50 30 30 20 2 194 23 10,2% 13 12 2,2% 1 944 10 600 4 0,7% 569 0 524 524 510 500 0 489 494 4,4% 4,9% 2,6% 960 444 -6,0
Slide 8: Sweden: Solid order intake and record high order backlog for 2025
Sweden Solid order intake and record high order backlog for 2025 Operational review NRC Group Sweden Revenue and EBIT Order backlog (total)¹ NOK million and percent NOK million 20 20 16 701 15 3 436 15 3 271 10 10 10 10 552 538 546 2 5 4 3,0% 5 447 436 438 0,5% 1,4% 1 1 158 1 473 -1,3% 340 350 0 0 1
Slide 9: Finland: Improved margin, visible effects from Acceleration Lane project
Finland Improved margin, visible effects from Acceleration Lane project Operational review NRC Group Finland Revenue and EBIT Order backlog (total)¹ NOK million and percent NOK million 60 49 60 42 3 495 805 823 841 40 31 40 726 751 20 691 20 12 20 2 730 2,6% 1 534 470 0 0 427 419 -6,0% 5,8% 6,1% -3,
Slide 10: Both season effect and ETM lead to significant increase of working capital
Both season effect and ETM lead to significant increase of working capital Cash flow and working capital Net working capital (NWC) Cash flow from operations Change in cash Q1 2025 NOK million NOK million NOK million 306 208 357 198 68 107 62 60 55 36 - 150 -7 12 7 - 72 114 -49 - 14 -48 -48 -62 -125
Slide 11: Net interest-bearing debt, maturity profile and leverage ratio
Net interest-bearing debt, maturity profile and leverage ratio Financial position Net interest-bearing debt (NIBD) Bank and bond maturities Leverage ratio: NIBD/EBITDA adj. LTM NOK million NOK million Ratio Long-term covenant target < 3.25x 390 7,8 832 -114 6,7 6,1 5,1 400 400 3,1 3,0 2,8 2,6 2,3 15
Slide 12: Q1 2025 Summary
Q1 2025 Summary Financials Progress in our operations Solid order intake and all-time-high order backlog Changed reporting from EBIT adj. to clean EBIT Confident on 2025 guiding of more than 2.0% EBIT-margin Operations Established solid foundation last year Executive and country management teams com
Slide 13: Targets for long-term strategy
Guiding Targets for long-term strategy 2025 targets 2028 targets NOK ~7 billion >NOK 10 billion Revenue Revenue >2.0% >5.0% EBIT margin EBIT margin Linear improvement towards 2028
Slide 14: Q2 2025 results 14 August
Q2 2025 results 14 August
Slide 15: Appendix
Appendix
Slide 16: Interim condensed consolidated statement of profit or loss
Interim condensed consolidated statement of profit or loss
Slide 17: Interim condensed consolidated statement of financial position
Interim condensed consolidated statement of financial position
Slide 18: Interim condensed consolidated statement of cash flows
Interim condensed consolidated statement of cash flows
Slide 19: Reconciliation of EBIT adj. from EBIT
Reconciliation of EBIT adj. from EBIT
Slide 20: High demand for infrastructure – continued robust tender pipeline
High demand for infrastructure – continued robust tender pipeline NOK 29 billion tender pipeline in Group1 Notes BNOK value, next 9 months (submission) Continued high tender pipeline across all countries Foundation for future profitable growth for NRC Group 35 Governmental support to upgrade and bui
Slide 21: Disclaimer
Disclaimer This draft presentation (hereinafter referred to as the “Presentation”) has been Should one or more of these risks or uncertainties materialise, or should prepared exclusively for information purposes and does not constitute an offer underlying assumption prove incorrect, actual results m