Kongsberg Gruppen Asa · OSL:KOG
Kongsberg Gruppen Asa — Q2 2015 Earnings Presentation
16 slides from Kongsberg Gruppen Asa's earnings presentation, Aug 21, 2015
Slide 1: Investor presentation 2nd Quarter
Investor presentation 2nd Quarter | 21 August 2015
Slide 2: Highlights
Highlights • Solid revenues BNOK 4.2 • EBITDA of MNOK 386 Impacted by one-offs in several business areas • Continued good order intake, maintaining a strong backlog • Continued solid performance in KM – book/bill at 1.01 • Maintaining high activity level with strong margins in KDS • Pursuing signifi
Slide 3: Financial status Q2 - 2015: Operating revenues
Financial status Q2 - 2015 Operating revenues 5 000 • Q2 revenues in line with Q2-14 4 000 3 000 • KM with 6.4 % revenue growth 2 000 compared to Q2-14 1 000 0 • KDS revenues in line with 2014 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2013 2014 2015 year-to-date 59 • KPS revenues slightly above recent 416 239 q
Slide 4: Financial status Q2 - 2015: EBITDA
Financial status Q2 - 2015 EBITDA 700 • KM with good underlying operations – 600 impacted by significant one-offs, increased 500 400 product development and changed project mix 300 200 • KDS with solid margins 100 0 • KPS with low underlying margins, positively Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2013 201
Slide 5: Financial status H1 - 2015
Financial status H1 - 2015 Operating revenues and EBITDA Revenues 9 000 • All-time high revenues in H1-15 – 3.1% growth compared to H1-14, driven by a 8 000 strong 8.4% growth in KM – KDS and KPS in line with H1-14 – KOGT down 6.9 %, impacted by a weak 7 000 H1 H2 H1 H2 H1 market 2013 2014 2015 • Un
Slide 6: Financial status Q2 - 2015: Orders
Financial status Q2 - 2015 Orders New orders 275 13 271 10 000 8 000 934 6 000 3 993 4 000 2 000 2 526 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2013 2014 2015 KM KDS KPS KOGT Other/Elim Group Order backlog 25 000 2015 20 000 Life-cycle business and 29 % 2016 framework agreements 38 % 15 000 not converted int
Slide 7: Financial status Q2 - 2015: Cash flow
Financial status Q2 - 2015 Cash flow Q2 2015 H1 2015 872 1 063 386 53 90 245 1 096 1 080 4 424 3 761 2 908 2 908 Cash IB EBITDA Change in Investments Net changes Cash UB Cash IB EBITDA Change in Investments Net changes Cash UB other in financing other in financing operating activities and operating
Slide 8: Business Area status
Business Area status Page 8
Slide 9: Kongsberg Maritime
Kongsberg Maritime Revenue growth, EBITDA • Q2 revenues up 6.4% compared to Q2-14 impacted by one-offs • EBITDA-margin impacted by RRM damages, product development initiatives and a somewhat changed project mix • High activity in offshore and subsea, strong growth in merchant marine Q2-15 Strong and
Slide 10: Kongsberg Defence Systems
Kongsberg Defence Systems Solid Q2 and strong order • Strong 13.7 % EBITDA-margin backlog • Delivery programs executed on plan • BNOK 9.2 in order backlog ensures good visibility Several important • Teaming agreements signed with Raytheon agreements signed in Q2 − NSM Q2-15 Operating revenues 1 117
Slide 11: Kongsberg Protech Systems
Kongsberg Protech Systems Increased revenues, low • Revenues driven by life-cycle business, underlying EBITDA continues to be a dominating portion of revenues in 2015 • EBITDA reflects reduced cost provisions of MNOK 154 • Continued significant marketing and R&D Q2-15 efforts Operating revenues 416
Slide 12: Kongsberg Oil & Gas Technologies
Kongsberg Oil & Gas Technologies Very weak quarter • Revenues in line with recent quarters • Negative underlying EBITDA • MNOK 43 in restructuring costs • Increased costs on ongoing delivery project • Management changes – Egil Haugsdal Q2-15 appointed new President in August Operating revenues 239 A
Slide 13: Essentially, KONGSBERG is a software company
Essentially, KONGSBERG is a software company • Digitalisation and connectivity are key in KONGSBERG’s development strategy – Big data, IoT, robotics, sensors etc. • The framework “KONGSBERG Smart Data” can be established in virtually any business or environment – Advanced Search Technology for Lars
Slide 14: 2015 Outlook
2015 Outlook • Kongsberg Maritime – High activity in first half of 2015 and solid activity level in 2015 – Slower contracting of new vessels in the offshore market, good outlook for advanced merchant and subsea • Kongsberg Defence Systems – Strong position in selected niches and several important op
Slide 15: 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 in
Slide 16: kongsberg.com
kongsberg.com