Slide 1: HAV Group ASA Second quarter 2022
PRESENTERS: HAV GROUP ASA Gunnar Larsen CEO Second quarter 2022 Pål Aurvåg CFO
Slide 2: Agenda
AGENDA 1. Q2 highlights 2. HAV Group ASA in brief 3. Subsidiaries and market opportunity 4. Financials 5. Market outlook 6. Q&A
Slide 3: Q2 Highlights
I1AV group Q2 HIGHLIGHTS inable future at Sea
Slide 4: Q2 Highlights: Key developments Q2
Q2 HIGHLIGHTS Key developments Q2 22 HAV Design • contract to deliver ship design and integrated equipment package to Ørsted-bound methanol-fuelled SOV. REVENUES EXTERNAL BACKLOG NOK 160 MILLION NOK 557 MILLION HAV Group • HAV Group receives preliminary approval for hydrogen-based EBIT NUMBER OF SHA
Slide 5: HAV Group ASA in brief
117A\V group A Sustainable future at Sea HAV GROUP ASA IN BRIEF
Slide 6: HAV Group ASA
A Sustainable Future at Sea HAV GROUP ASA Established in 2021 International provider of International provider of sustainable marine and maritime sustainable marine and maritime technologies and services technologies and services Vision: Special expertise in guiding the A Sustainable Future at Sea m
Slide 7: Four subsidiaries with a leading position within its segments
FOUR SUBSIDIARIES WITH A LEADING POSITION WITHIN ITS SEGMENTS HAV Design is a global leader within energy- Norwegian Electric Systems (NES) is a world efficient and competitive ship designs with zero leading total supplier of low and zero emission emission ambitions. propulsion and control systems f
Slide 8: HAV Group value creation
HAV GROUP VALUE CREATION STRATEGIC DEVELOPMENT Actively taking part in the companies’ strategic development. BUSINESS DEVELOPMENT / R&D PROCESSES Stimulating intercompany business development and R&D processes. VALUE CREATION SYNERGIES Extracting synergies through economies of scale, standardization
Slide 9: Experienced management team
EXPERIENCED MANAGEMENT TEAM Executive management Gunnar Larsen Pål Aurvåg Frank-Levi Kvalsund Marius Koksvik CEO, HAV Group CFO, HAV Group Senior VP HR/QHSE, HAV Group VP Business Development, HAV Group 34 years of industry experience 16 years of industry experience 22 years of industry experience 7
Slide 10: Board of Directors
BOARD OF DIRECTORS VEGARD SÆVIK Chairman TORE HOPEN HEGE SÆVIK RABBEN VIBEKE FÆNGSRUD HELGE A. SIMONNES KJETIL YOO RIPE ANITA FJØRTOFT Director Director Director Director Director Director
Slide 11: Subsidiaries & market opportunity
SUBSIDIARIES & MARKET OPPORTUNITY
Slide 12: Simulation based ship design
SIMULATION BASED SHIP DESIGN • Through a digital tool-kit, knowledge and innovation HAV Design offers environmentally friendly, safe and functional designs • Sold designs for >120 vessels globally • Designed 18 zero emission vessel designs and 11 vessels designs for renewable energy • Leading positi
Slide 13: Positioned for further growth
16 14 12 Positioned for further growth 10 8 6 • Developed its unique design philosophy and design 4 process through years of experience, R&D investments 2 and collaboration with leading ship owners 0 200720082009201020112012201320142015201620172018201920202021 • Proprietary methods for configuration
Slide 14: Your expert in BWMS
YOUR EXPERT IN BWMS • Norwegian Greentech (NGT) was established in 2010 and designs, delivers, installs and services highly energy-efficient compact ballast water treatment systems (BWTS) • The in-house developed BWTS is particularly suited for retrofits due to its small size, flexible installation
Slide 15: Water cleaning technology to be applied over a range of industries
Water cleaning technology to be applied over a range of industries HIGH DEMAND FOR LAND-BASED SALMON LAND-BASED FISH FARMING EXPECTED TO GROW 10X BY 2025 • NGT has supplied water treatment solutions for more than 100,000 15 aquaculture projects 90,000 • Land-based salmon is set for stellar growth 80
Slide 16: Green innovation for the oceans
+ 100 +100 MWh 3 Key drivers Zero & low of installed Safety emission projects batteries Efficiency GREEN INNOVATION FOR THE OCEANS Environment • Norwegian Electric Systems (NES) is a leading supplier of low/zero emission energy, propulsion and control systems for for a wide range of vessels • Design
Slide 17: The one-stop shop to meet future IMO targets
The one-stop shop to meet future IMO targets • NES’ fully integrated solutions enabling customers to meet greenhouse gas emission targets • Emission reduction by energy optimizing and digitization MARINE SYSTEM INTEGRATION SHIP PERFORMANCE MONITOR (SPM) Integration of different energy sources like d
Slide 18: Developing rapidly to meet the emerging hydrogen market
Developing rapidly to meet the emerging hydrogen market APPROVAL The approval process for the H2-system developed for the FreeCo2ast project will be used as a base case for further approval work. HAV Group ASA has been granted Preliminary Approval for the hydrogen-based energy system developed in th
Slide 19: The world needs significant emission reduction
The world needs significant emission reduction HAV Hydrogen in pole position to take part in upcoming hydrogen projects: • We offer risk reduction through significant R&D experience, approval expertise and turnkey system solutions • Established partnerships with industry majors • We have efficient p
Slide 20: Financials
I1AV group FINANCIALS inable future at Sea
Slide 21: Key financials (unaudited)
Key financials (unaudited) Comments NOKm Q2 2022 Q2 2021 2021 • Operating income in Q2 is lower due to less trading deliveries and margin due to lower Operating income 160 304 917 capacity utilization EBITDA 18 41 108 • EBIT margin 8,7% EBIT 14 37 91 Net finance 3 2 -3 Net profit 17 38 88 EBIT margi
Slide 22: Q2 2022 balance sheet
Q2 2022 balance sheet Comments NOKm Q2 2022 Q2 2021 2021 NOKm Q1 2022 Q1 2021 2021 • Minor changes from Q4 reporting unaudited unaudited audited unaudited unaudited audited Assets Equity and liabilities • Increase in receivables and reduction in cash Non-current assets Equity Total intangible assets
Slide 23: Cash flow statement
Cash flow statement Comments NOKm YTD Q2 2022 YTD Q2 2021 2021 • Negative Cash from operations unaudited unaudited audited • Mainly related to project progress – NOK 36 million Cash flow from operations Net cash flow from/to operating activities -23.1 216.8 274.8 • Negative Cash from investments Cas
Slide 24: External backlog of NOK 557 million
External backlog of NOK 557 million Comments to order backlog The external order back-log is NOK 557 million as 34 of the end of Q2 2022, an increase from 418 in Q1. The ”fleet-agreements” signed by different ship- 288 owners are not included in the official backlog 200 figures. 557 69 Internal External
Slide 25: Market outlook
117A\V group A Sustainable future at Sea MARKET OUTLOOK
Slide 26: Summary, outlook and priorities
Summary, outlook and priorities • The maritime and marine industries are subject to tremendous regulatory, economic and public opinion pressure to reduce STRONG FUNDAMENTALS FOR the environmental impacts of its operations MARITIME CLEANTECH • HAV Group is a diversified maritime technology company re
Slide 27: Q&A
I1AV group Q&A VY &