Kongsberg Gruppen Asa · OSL:KOG
Kongsberg Gruppen Asa — Q4 2023 Earnings Presentation
18 slides from Kongsberg Gruppen Asa's earnings presentation, 2024
Slide 1: Protechting people and planet
Investor presentation Q4 2023 Protechting people and planet Geir Håøy, President & CEO Mette Toft Bjørgen, EVP & Group CFO KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not othe
Slide 2: Disclaimer
Disclaimer This presentation contains certain forward-looking information and statements. Such forward-looking information and statements are based on the current, estimates and projections of the Company or assumptions based on information currently available to the Company. Such forward- looking i
Slide 3: A global business agile to geopolitical changes
A global business agile to geopolitical changes See Statement of Proprietary information 3
Slide 4: Quarterly highlights
Quarterly highlights • Continued growth across all business areas - Business area growth ranging from 21% to 54% • Record order intake and major framework agreement • Continued strong exposure towards current major trends • Solid project execution • Strong cash flow Order intake Revenue EBIT NOK NOK
Slide 5: Business update | Kongsberg Maritime
Business update | Kongsberg Maritime • NOK 4.8bn order intake and 0.86 book/bill New build order intake 2023 Other - 2023: NOK 22.4bn order intake and 1.11 Seaborne Pax book/bill Offshore wind 6% 6% 14% • Diversified newbuild revenues, especially 8% strong within LNG OPU 10% • High aftermarket activ
Slide 6: Business update | Kongsberg Defence & Aerospace
Business update | Kongsberg Defence & Aerospace Major events in Q4 • NOK 24.8bn order intake and Several significant orders secured in the quarter, among others: book/bill 4.95 • NSM contract worth approximately NOK 3.6bn to the Spanish - 2023: NOK 37.8bn order intake Navy and 2.37 book/bill • Lithu
Slide 7: Business update | Kongsberg Discovery
Business update | Kongsberg Discovery • NOK 1.3bn order intake and 1.16 book/bill - 2023: NOK 4.3bn order intake and 1.10 book/bill • Solid contract wins throughout 2023 - Multiple HUGIN-contracts in the quarter • Increasing demand and favourable exposure to several underwater markets Order intake (
Slide 8: Business update | Kongsberg Digital
Business update | Kongsberg Digital • Continued roll-out of digital twins and onboarding of new users on existing solutions • 40+ digital twins in operation • Chevron-agreement extended from 2 to 5 years 2,460 2,600 21,000 22,500 2,300 Vessel Insight 19,000 Kognitwin Q2 23 Q3 23 Q4 23 Q2 23 Q3 23 Q4
Slide 9: Financial status
Financial status Mette Toft Bjørgen, EVP & Group CFO KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised repr
Slide 10: 2023 at a glance
2023 at a glance (NOK bn) Revenue EBIT Order intake Order backlog 88.6 4.6 65.4 63.3 40.6 31.8 3.3 49.5 27.4 2.9 41.0 45.2 2021 2022 2023 2021 2022 2023 2021 2022 2023 2021 2022 2023 See Statement of Proprietary information
Slide 11: Revenue
Revenue Kongsberg Maritime Kongsberg Defence & Aerospace (NOK bn) +21% +29% 5.59 4.61 5.02 KONGSBERG 3.89 +26% Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 11.94 9.44 Kongsberg Discovery Kongsberg Digital +38% Recurring revenue 1.15 +54% 0.83 0.44 0.29 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q4
Slide 12: EBIT and EBIT-margin
EBIT and EBIT-margin Kongsberg Maritime Kongsberg Defence & Aerospace (NOK bn, %) 18.7% 14.9% 8.1% 9.6% 0.73 0.75 0.54 KONGSBERG 0.37 EBIT-margin EBIT (NOK bn) Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 11.3% 10.7% 1.27 1.07 Kongsberg Discovery Kongsberg Digital 12.3% 13.1% (0.15) (
Slide 13: Net working capital
Net working capital Kongsberg Maritime & Kongsberg Discovery (NOK bn, %) 18.1% 4.35 11.7% KONGSBERG 2.28 NWC of LTM-revenue (%) NWC (NOK bn) Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Kongsberg Defence & Aerospace 1.8% 0.57 (1.1%) (1.55) (4.66) (13.0%) (0.45) Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 (29.2%) Q4 22 Q1 23 Q2
Slide 14: Cash flow development 1.10 - 31.12
Cash flow development 1.10 - 31.12 (NOK bn) (0.53) (0.65) 0.06 (1.20) 4.79 (0.23) 5.98 (0.06) 1.67 2.11 Cash 01.10 EBITDA Change in Tax and other Investment in Other Change in Other Translation Cash 31.12 working operating PPE & R&D investing interest financing differences capital related items acti
Slide 15: Proposed dividend of NOK 14/share
Proposed dividend of NOK 14/share Details Proposed dividend FY2023 • First tranch - NOK 7.00 ⁻ Last day including 7 May 2024, ex. dividend date 8 May 2024 NOK per share Total NOKm ⁻ Record date 10 May 2024, payment date 29 May 2024 14 • Second tranch - NOK 7.00 ⁻ Last day including 8 October 2024, e
Slide 16: Associated companies
Associated companies KSAT Patria Revenue (NOKm) EBIT (NOKm) KOG’s share of net profit (NOKm) Revenue (EURm) EBIT (EURm) KOG’s share of net profit (NOKm)* 1 900 733 1 471 627 548 1 232 +17% +51% 267 312 587 338 384 416 389 95 98 61 54 68 32 42 2021 2022 2023 Q4 22 Q4 23 2021 2022 2023 Q4 22 Q4 23 133
Slide 17: Outlook
Outlook Kongsberg Defence Kongsberg Kongsberg Kongsberg & Aerospace Maritime Discovery Digital • Record-high backlog secures • Unique position towards an • Solid demand from areas such as • Continued increase in recurring growth in 2024 ongoing maritime fishery, marine research revenues • Ongoing ma
Slide 18: Protechting people and planet
Protechting people and planet KONGSBERG PROPRIETARY: This document contains KONGSBERG information which is proprietary and confidential. Any disclosure, copying, distribution or use is prohibited if not otherwise explicitly agreed with KONGSBERG in writing. Any authorised reproduction in whole or in