Kongsberg Gruppen Asa · OSL:KOG
Kongsberg Gruppen Asa — Q2 2024 Earnings Presentation
17 slides from Kongsberg Gruppen Asa's earnings presentation, Jul 10, 2024
Slide 1: Protechting people and planet
Investor presentation Q2 2024 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: Security and Sustainability - at the top of the global agenda
Security and Sustainability - at the top of the global agenda Increased defence Our revenue ambition: Green shipping and spending 120 BNOK energy transition in 2033 KONGSBERG strongly positioned
Slide 4: Highlights
Highlights • Continued growth in all business areas - Ranging from 8% to 28% • High market activity throughout the company - Strong positions driven by major trends related to sustainability and security • NOK 95.6bn record-high order backlog • New missile factory opened • New growth ambition 2033 –
Slide 5: Business update | Kongsberg Maritime
Business update | Kongsberg Maritime New build order intake YTD Other Fishery & SP • NOK 6.1bn order intake and 1.03 book/bill Pax Seaborne Offshore wind 2% 3% • Well-diversified distribution of new orders 8% 2% 16% • Naval significantly strong YoY OPU 8% • High aftermarket activity – driven by spar
Slide 6: Business update | Kongsberg Defence & Aerospace
Business update | Kongsberg Defence & Aerospace • NOK 10.3bn order intake and book/bill 2.32 Orders announced in the quarter: • BNOK 2.3 (+BNOK 2.5 fixed price option) • NOK 71.5bn record-high order backlog NASAMS-contract with Norwegian Defence • Development contract for Supersonic Materiel Agency
Slide 7: Business update | Kongsberg Discovery
Business update | Kongsberg Discovery • NOK 0.8bn order intake and 0.83 book/bill • Strong demand from both commercial and governmental customers • New HUGIN Superior contract Order intake (NOK bn) Order backlog (NOK bn) Order backlog distribution +11% 2.6 2.9 0% 2024 55% 0.8 0.8 13% 32% 2025 2026 +
Slide 8: Business update | Kongsberg Digital
Business update | Kongsberg Digital • Growth driven by simulation business • Increased number of Kognitwins in operation to 47 • Vessel Insight sold to various segments Order intake (NOK bn) Order backlog (NOK bn) Order backlog distribution 2024 34% +38% -12% 2.2 36% 2025 1.6 0.4 0.4 2026 + further
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: 2024 – Year to date
2024 – Year to date • Order intake NOK 30bn • Revenue NOK 23bn and EBIT NOK 2.91bn • Strong and profitable growth Order intake (NOK bn) Revenue (NOK bn) EBIT (NOK bn) +33% +23% 30.02 23.04 +41% 18.45 14.61 2.91 1.21 H1 22 H2 22 H1 23 H2 23 H1 24 H1 22 H2 22 H1 23 H2 23 H1 24 H1 22 H2 22 H1 23 H2 23
Slide 11: Revenue
Revenue Kongsberg Maritime Kongsberg Defence & Aerospace (NOK bn) +20% 5.98 +28% 4.98 4.43 KONGSBERG 3.47 +21% 11.59 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 9.60 Kongsberg Discovery Kongsberg Digital Recurring revenue +8% 1.01 +19% 0.93 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 0.41 0.34 Q2
Slide 12: EBIT and EBIT-margin
EBIT and EBIT-margin Kongsberg Maritime Kongsberg Defence & Aerospace (NOK bn, %) 12.2% 15.9% 14.8% 7.9% 0.73 0.70 0.51 KONGSBERG 0.39 EBIT-margin EBIT (NOK bn) Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 12.5% 10.8% 1.45 1.04 Kongsberg Discovery Kongsberg Digital 15.1% 14.2% (0.11)
Slide 13: Net working capital
Kongsberg Maritime Net working capital 12.8% 2.35 14.4% 3.17 (NOK bn, %) Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 KONGSBERG NWC of LTM-revenue (%) NWC (NOK bn) Kongsberg Defence & Aerospace (7.2%) (0.98) (30.7%) 7.0% (5.61) 2.51 (0.7%) Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Kongsberg Discovery (0.32) 47.5% 39.1% Q2 23
Slide 14: Cash flow development 1.4 - 30.6
Cash flow development 1.4 - 30.6 (NOK bn) 0.36 (0.26) (0.60) 0.13 (0.50) 1.82 6.58 (1.19) (0.30) 5.94 (0.10) Cash 01.4 EBITDA Change in Tax and other Investment in Other Change in Dividend paid Other Translation Cash 30.6 working operating PPE & R&D investing interest financing differences capital r
Slide 15: Associated companies
Associated companies Kongsberg Satellite Services Patria Revenue (NOKm) EBIT (NOKm) KOG’s share of net profit (NOKm) Revenue (EURm) EBIT (EURm) KOG’s share of net profit (NOKm)* 312 587 561 532 472 419 206 168 168 103 139 100 103 91 98 42 7 23 18 1 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q2 23 Q3 23 Q4 23 Q1
Slide 16: Outlook
Outlook Kongsberg Defence Kongsberg Kongsberg Kongsberg & Aerospace Maritime Discovery Digital • Continued marketing, tendering • Front-runner in the maritime • Significant demand from areas • Continued increase in recurring and negotiations related to transformation and unique such as fishery, mari
Slide 17: 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