Slide 1: Fourth-quarter results 2013
Preferred partner 4Q Fourth-quarter results 2013 Fornebu, February 13, 2014 Øyvind Eriksen and Leif Borge © 2014 Aker Solutions Slide 1 February 13, 2014 Fourth-quarter and preliminary annual results 2013 Preferred partner
Slide 2: Agenda | 4Q 2013
Agenda | 4Q 2013 Introduction Øyvind Eriksen Executive chairman Financials Leif Borge President & CFO Q&A session Øyvind Eriksen Leif Borge Q&A © 2014 Aker Solutions Slide 2 February 13, 2014 Fourth-quarter and preliminary annual results 2013 Preferred partner
Slide 3: 2013 | Key figures
2013 | Key figures1 Revenue and EBITDA Order intake & backlog Dividend per share NOK billion NOK billion NOK million Revenue EBITDA2 Intake Backlog 50 5 70 5 45 4,5 60 40 4 4 42.9 35 3,5 50 4.10 57.9 30 3 3.5 40 58.1 3 25 2,5 30 20 2 2 15 1,5 20 10 1 1 10 5 0,5 0 0 0 0 2011 2012 2013 2011 2012 2013
Slide 4: 4Q 2013 | Key figures
4Q 2013 | Key figures1 Revenue and EBITDA Order intake and backlog NOK billion NOK billion Revenue EBITDA2 Intake Backlog 14 1,4 30 80 12 1,2 25 60 10 1,0 20 11.4 58.1 8 0,8 1.1 15 40 6 0,6 10 4 0,4 12.9 20 5 2 0,2 0 0,0 0 0 3Q 4Q 1Q 2Q 3Q 4Q 3Q 4Q 1Q 2Q 3Q 4Q 3Q 4Q 1Q 2Q 3Q 4Q 3Q 4Q 1Q 2Q 3Q 4Q 201
Slide 5: 4Q 2013 | By business area
4Q 2013 | By business area Revenue Profitability NOK million EBITDA margin (percent) 3 687 11,4 SUB SUB 3 429 8,2 2 801 6,8 MMO 2 898 MMO 7,9 2 643 10,4 DRT 2 420 DRT 11,3 980 8,4 ENG 1167 ENG 10,2 632 7,6 UMB 561 UMB 7 575 0,9 PRS 463 PRS -1,3 4Q 2013 OMA 428 4Q 2012 19,2 203 OMA 15,3 © 2014 Aker S
Slide 6: Order intake per business area
Order intake per business area 4Q 2013 order intake of NOK 12.9 billion NOK million Record order intake includes: MMO MMO 5,810 Johan Sverdrup DRT engineering framework DRT 2,744 contract SUB SUB 1,955 Two-year MMO option UMB UMB 966 extension from Statoil worth NOK 3 billion ENG ENG 858 Umbilicals
Slide 7: Outlook
Outlook ■ High tender activity continues in most markets ■ Strong order backlog supports robust activity levels ■ MMO slowdown in Norway as oil companies reduce spending ■ Drilling Technologies growth helped by more diversified portfolio © 2014 Aker Solutions Slide 7 February 13, 2014 Fourth-quarter
Slide 8: In summary
In summary ■ Record-high order intake in 2013 ■ Profit margins widened in year on stronger execution, revenue ■ Streamlined business through divestments ■ Dividend of NOK 4.10 per share ■ Key priority to deliver successfully on high order backlog © 2014 Aker Solutions Slide 8 February 13, 2014 Fourt
Slide 9: Agenda | 4Q 2013
Agenda | 4Q 2013 Introduction Øyvind Eriksen Executive chairman Financials Leif Borge President & CFO Q&A session Øyvind Eriksen Leif Borge Q&A © 2014 Aker Solutions Slide 9 February 13, 2014 Fourth-quarter and preliminary annual results 2013 Preferred partner
Slide 10: Consolidated income statement
Consolidated income statement1 (NOK million) 4Q 13 4Q 12 2013 2012 Operating revenues and other income 11,448 11,196 42,900 41,632 EBITDA 1,063 1,086 3,503 4,171 Of which related to non-recurring items - 1602 - 3252 Of which related to hedging (65) (25) (124) 36 Depreciation and amortisation (386) (
Slide 11: 4Q 2013 | Consolidated cashflow, capex and NCOA
4Q 2013 | Consolidated cashflow, capex and NCOA ■ Cashflow from operations positive NOK 2.9 billion in the quarter ■ NCOA of NOK 2.6 billion (3Q 2013: NOK 4.2 billion) Cashflow Net current operating assets (NCOA)1 NOK million NOK million 9900 2900 5 000 900 400 8300 4 000 3 000 2 000 1 000 0 Net deb
Slide 12: 4Q 2013 | Financial position
4Q 2013 | Financial position ■ Net debt of NOK 8.3 billion (3Q 2013: NOK 9.9 billion) ■ Liquidity buffer of NOK 6.7 billion ■ Received NOK 5.5 billion in cash in January 2014 from divestments of WIS and MLS Debt maturity profile LTM EBITDA, NIBD and NIBD/LTM EBITDA NOK million NOK million Note: Revo
Slide 13: Product Solutions
Product Solutions Subsea Umbilicals ■ Full year revenue growth of 11% vs. 2012 ■ Full year revenue growth of 2% vs. 2012 ■ Record high order intake of NOK 26.2 billion in 2013 ■ Record high order intake of NOK 3 billion in 2013 ■ High tender activity in all business segments ■ Continued focus on qua
Slide 14: Product Solutions
Product Solutions Drilling Technologies Process Systems ■ Full year revenue growth of 14 % vs. 2012 ■ Full year revenue growth of 32 % vs. 2012 ■ Order intake of NOK 10 billion in 2013 ■ Order intake of NOK 2 billion in 2013 ■ High tender activity ■ EBITDA impacted by low capacity utilization in som
Slide 15: Engineering Field-Life Solutions
Engineering Field-Life Solutions Engineering MMO ■ Johan Sverdrup framework agreement won from Statoil, the ■ Full year revenue on same level as 2012 (NOK 11.1 billion) contract includes front-end engineering design (FEED) for a ■ Order backlog grew 20% in 2013 value of NOK 650 million and an option
Slide 16: Field-Life Solutions
Field-Life Solutions Oilfield Services and Marine Assets Asset values Total NOK 5.4 bn Skandi Aker (Total) ■ Two-year year firm contract for Total E&P Angola 500 Aker Oilfield Services ■ Revenue utilization 80% since start up as per plan, on track 900 to increase as track record is established Ezra
Slide 17: Order backlog and order intake
Order backlog and order intake1 Order backlog by execution date Order backlog adjusted for Cat B2 NOK billion NOK billion 80 Cat B 33 Adjusted 70 25 60 2014 Later 50 Order backlog of NOK 58.1 bn 40 NOK million 70 ENG DRT SUB MMO Other 1,2 30 60 50 20 40 30 20 10 10 0 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 2Q
Slide 18: Agenda | 4Q 2013
Agenda | 4Q 2013 Introduction Øyvind Eriksen Executive chairman Financials Leif Borge President & CFO Q&A session Øyvind Eriksen Leif Borge Q&A © 2014 Aker Solutions Slide 18 February 13, 2014 Fourth-quarter and preliminary annual results 2013 Preferred partner
Slide 19: © 2014 Aker Solutions Slide 19 February 13, 2014
© 2014 Aker Solutions Slide 19 February 13, 2014 Fourth-quarter and preliminary annual results 2013 Preferred partner
Slide 20: Additional information
Preferred partner 4Q Additional information © 2014 Aker Solutions Slide 20 February 13, 2014 Fourth-quarter and preliminary annual results 2013 Preferred partner
Slide 21: Consolidated cash flow
Consolidated cash flow NOK million Cash flow Q1 2012 Q2 2012 Q3 2012 Q4 2012 FY 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 FY 2013 EBITDA 1 040 1 357 1 122 1 220 4 739 868 946 1 074 615 3 503 Change in cash flow from operating activities (1 162) (1 844) (1 173) 1 223 (2 956) (2 870) 697 (498) 2 246 (425)
Slide 22: Consolidated assets & debt and equity
Consolidated assets & debt and equity NOK million Assets Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Property, plant and equipment 7 732 8 179 8 518 10 041 10 418 10 557 10 802 9 815 Intangible assets 6 776 7 040 7 162 7 454 8 693 8 950 9 267 8 842 Financial assets (non-current) 1 000 1 208 1 26
Slide 23: Split per business area
Split per business area NOK million Revenues Q1 2012 Q2 2012 Q3 2012 Q4 2012 FY 12 Q1 2013 Q2 2013 Q3 2013 Q4 2013 FY 13 Product Solutions 5 104 6 343 5 972 6 816 24 235 6 177 7 113 6 550 7 475 27 315 Field Life Solutions 2 707 3 172 3 109 3 101 12 089 2 968 2 996 2 768 3 229 11 961 Engineering Solu
Slide 24: Split per business segment in Aker Solutions
Split per business segment in Aker Solutions NOK million Revenues Q1 2012 Q2 2012 Q3 2012 Q4 2012 FY 12 Q1 2013 Q2 2013 Q3 2013 Q4 2013 FY 13 Subsea 2 445 3 401 2 899 3 429 12 174 3 023 3 535 3 289 3 687 13 534 Umbilicals 413 506 518 561 1 998 397 519 488 632 2 036 Drilling Technologies 1 974 2 146
Slide 25: Split per business segment in Aker Solutions
Split per business segment in Aker Solutions NOK million Order intake Q1 2012 Q2 2012 Q3 2012 Q4 2012 FY 12 Q1 2013 Q2 2013 Q3 2013 Q4 2013 FY 13 Subsea 2 423 3 203 1 908 2 348 9 882 17 835 3 771 2 607 1 955 26 168 Umbilicals 297 790 500 31 1 618 1 074 103 902 966 3 045 Drilling Technologies 2 927 2
Slide 26: © 2014 Aker Solutions Slide 26 February 13, 2014
© 2014 Aker Solutions Slide 26 February 13, 2014 Fourth-quarter and preliminary annual results 2013 Preferred partner
Slide 27: Copyright and disclaimer
Copyright and disclaimer Copyright Copyright of all published material including photographs, drawings and images in this document remains vested in Aker Solutions and third party contributors as appropriate. Accordingly, neither the whole nor any part of this document shall be reproduced in any for