Akva Group Asa · OSL:AKVA
Akva Group Asa — Q1 2013 Earnings Presentation
24 slides from Akva Group Asa's earnings presentation, May 15, 2013
Slide 1: Q1 2013 Presentation
Q1 2013 Presentation Oslo, May 15th, 2013 Trond Williksen, CEO Eirik Børve Monsen, CFO 1
Slide 2: Agenda
Agenda Highlights Q1 2013 Trond Williksen, CEO Financial performance Q1 2013 Eirik Børve Monsen, CFO Outlooks Trond Williksen, CEO Q&A 2
Slide 3: Highlights Q1 2013
Highlights Q1 2013
Slide 4: Improvement from last quarter – strong order backlog
Improvement from last quarter – strong order backlog ● Over all underlying operational performance in line with Q1 last year ● Strong order backlog ● Strong growth in Nordic market with improved top line and earnings ● Reduced top line and earnings in Chile, Canada and Scotland Newly designed AB450
Slide 5: Key financials
Key financials Revenue EBITDA Order backlog Order inflow 5
Slide 6: AKVA group in brief
AKVA group – uniquely positioned for future growth Cage based farming Land based farming Technology AKVA group in brief Technology • The most recognized brand in aquaculture technology • Leading technology solutions and service partner to global aquaculture industry • Global presence - subsidiaries
Slide 7: Operational structure
Wakvasmart’ Akvasmat Feeding systems Akvasmart Lights Akvasmart Cameras & Sensors Akvasmat Net Ceaners WW polarcirke’ Polarcirkel cages Polarcircel boats WW wavemaster wavemaster Feed Barges ‘Wawemaster Steel Cages Wfishtak Fshraik Qwise wise /wisenynamics WDakvasmart’ Landbased technology Ptase _ a
Slide 8: Global presence – three regions
Global presence – three regions
Slide 9: Market segments - Revenue
Market segments - Revenue By product groups – Q1 2013 Land based technologies +2 percentage point, Software -2 percentage point and Cage based technologies unchanged vs Q1 2012 Cage based technologies = Cages, barges, feed systems and other operational systems for cage based aquaculture Softwa
Slide 10: Financial performance Q1 2013
Financial performance Q1 2013 10
Slide 11: Strong growth in Nordic – slow in Americas and UK
Strong growth in Nordic – slow in Americas and UK ● Strong growth in revenue and earnings in Nordic, reduction in Americas and UK ● Underlying operational performance in line with Q1 2012 o Adjusted revenue and EBITDA in Q1 2012 for the gain related to the Maritech Norway sale would have given a rev
Slide 12: P&L segments – Cage Based Technologies
P&L segments – Cage Based Technologies P&L 2012 2013 2012 2012 (MNOK) 1Q 1Q Total Cage based technologies Nordic operating revenues 117,2 55,0 264,8 Americas operating revenues 43,7 83,8 302,7 Export operating revenues 22,4 38,8 89,5 OPERATING REVENUES 183,3 177,6 657,0 Operating costs ex depreciati
Slide 13: P&L segments - Software
P&L segments - Software P&L 2012 2013 2012 2012 (MNOK) 1Q 1Q Total Software Nordic operating revenues 19,6 51,3 102,5 Americas operating revenues 3,3 3,6 18,3 Export operating revenues 0,4 0,4 1,6 OPERATING REVENUES 23,3 55,3 122,4 Operating costs ex depreciations 19,5 22,9 79,7 EBITDA 3,8 32,4 42,7
Slide 14: P&L segments – Land Based Technologies
P&L segments – Land Based Technologies P&L 2012 2013 2012 2012 (MNOK) 1Q 1Q Total Land based technologies Nordic operating revenues 14,4 10,2 40,3 Americas operating revenues 1,2 0,7 11,8 Export operating revenues - - - OPERATING REVENUES 15,5 10,8 52,1 Operating costs ex depreciations 15,6 14,5 57,
Slide 15: Financials – Detailed P&L group
Financials – Detailed P&L group P&L 2012 2013 2012 2012 2012 Q1 revenue and (MNOK) 1Q 1Q Total margins are affected OPERATING REVENUES 222,1 243,7 831,5 by the one of gain Operating costs ex depreciations 211,7 204,0 773,7 related to the sale of EBITDA 10,4 39,7 57,8 the Norwegian Depreciation 8,1 8
Slide 16: Group financial profile – slightly impacted by acquisition
Group financial profile – slightly impacted by acquisition Cash balance (MNOK) Cash balance on same level as in Q1 2011 Total available cash, including available drawing facility, was 63 MNOK at the end of Q1 2013 vs 79 MNOK at the end of Q1 2012 50% of the Plastsveis AS acquisition was paid i
Slide 17: Group financial profile, continued
Group financial profile, continued Debt level (NIBD MNOK) Net interest bearing debt increased in Q1 due to new LTL of MNOK 10 related to the Plastsveis AS acquisition Increased NIBD is also explained by increased use of the credit facility du to high production activity in Q1 - high season for p
Slide 18: Balance Sheet
Balance Sheet BALANCE SHEET 2013 2012 2012 (MNOK) 31.03. 31.03. 31.12. Intangible fixed assets 220,1 203,1 201,2 Fixed assets 49,0 41,7 45,8 Long-term financial assets 30,2 30,3 31,5 FIXED ASSETS 299,2 275,1 278,5 Stock 170,2 188,7 161,7 Trade receivables 185,6 184,3 163,1 Other receivables 52,0 34,
Slide 19: Cash flow statement
Cash flow statement CASH FLOW STATEMENT 2013 2012 2012 (NOK 1 000) 1Q 1Q Total Net cash flow from operations 7 945 7 560 16 995 Net cash flow from change in working capital -9 665 20 910 24 648 Net cash flow from operating activities -1 720 28 470 41 642 Net cash flow from investment activities -9 9
Slide 20: Outlooks
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Slide 21: Improved order backlog and inflow
Improved order backlog and inflow Order backlog (MNOK) Order backlog 327 MNOK by end of Q1 vs 275 MNOK by end of Q1 2012. Significant improvement from previous years Order inflow (MNOK) Total order inflow in Q1 of 242 MNOK vs 235 MNOK in Q1 2012 Nordic and Export in emerging markets contribu
Slide 22: Outlooks – optimistic
Outlooks – optimistic ● We maintain our positive outlook in the Nordic market for the coming quarters. Significant growth in salmon prices into 2013 drives demand for technology and services. ● We see some positive signals in Chile after significant decline in volumes of sales and deliveries in Q1 c
Slide 23: Q&A
Q&A 23
Slide 24: AKVAGRouP
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