Slide 1: 4th quarter 2021 result presentation
Image TBU Bytte ut 4th quarter 2021 result presentation CEO Henning Olsen 16 February 2022
Slide 2: Disclaimer
Disclaimer • This draft presentation (hereinafter referred to as the “Presentation”) has been prepared exclusively for information purposes and does not constitute an offer to sell or the solicitation of an offer to buy any financial instruments. • This Presentation includes and is based on, among o
Slide 3: Highlights Q4
Highlights Q4 Revenue Order intake NOK 1.6 billion NOK 1.9 billion (NOK 1.6 billion Q4 2020) (NOK 1.4 billion Q4 2020) EBITA* Operating cash flow NOK 50 million NOK 149 million (NOK -10 million Q4 2020) (NOK 110 million Q4 2020) EBITA* margin 3.1% (-0.7% Q4 2020) * Before other income and expenses (
Slide 4: Summary 2021 and outlook
Summary 2021 and outlook Total revenue EBITA* (NOK million) (NOK million) 7 000 200 2,5 % 6 449 2,3 % Key figures 2021 6 500 6 193 180 5 957 160 2,0 % 6 000 140 • Moderate decrease in revenue 5 500 120 1,5 % • Strong increase in EBITA* margin 5 000 100 • Lower net interest bearing debt 4 500 80 0,9
Slide 5: Health & safety
Health & safety 6.4 18.5 3.9% 0 LTI* TRI** SICKNESS ABSENCE SERIOUS INJURIES Q4 2020: 5.1 Q4 2020: 13.4 Q4 2020: 4.8% Q4 2020: 0 • Keep employees safe and minimize impact on operations Covid-19 • New variant emerged, infection rate expected to be high • Expect impact on sickness absence *LTI: Injuri
Slide 6: Building sustainable infrastructure
KEY SUSTAINABILITY COMMITMENTS Building sustainable infrastructure BUILDING IMPROVING ENSURING 1 A LOW-CARBON 2 ENVIRONMENTAL 3 ETHICAL BUSINESS FUTURE PERFORMANCE PRACTICE PROVIDING EMPHASISING TRAINING AND 4 A SAFE AND SECURE 5 DIVERSITY AND EQUAL 6 DEVELOPING OUR WORKPLACE OPPORTUNITIES PEOPLE 6
Slide 7: The EU Taxonomy results for 2021
The EU Taxonomy results Revenue OpEx CapEx for 2021 • Revenue (economic activities) - 87% is eligible Non-eligible 13% Non-eligible 23% - 62% (72%*) is aligned Non-eligible 13% Eligible 87% Eligible 87% Eligible 77% • OpEx (operational expenditures) - 87% is eligible - 63% (72%*) is aligned • CapEx
Slide 8: Profit & loss
Profit & loss (Amounts in NOK million) Q4 2021 Q4 2020 FY 2021 FY 2020 • Revenues up +1% from Q420 • Adjusted for currency effects ~ +7% Revenue 1 601 1 578 5 957 6 449 Operating expenses 1 504 1 534 5 621 6 185 • EBITA* improvement of NOK 60 million from Q420 EBITDA* 97 44 336 264 Other income and
Slide 9: Balance sheet
Balance sheet (Amounts in NOK million) 31.12.2021 31.12.2020 ASSETS Intangible assets 2 838 3 010 • Cash: NOK 626 million Right-of-use assets 514 588 Total other non-current assets 193 255 • Interest-bearing debt reduced by NOK 31 million in Q4 Cash and cash equivalents 626 610 to NOK 1,518 million
Slide 10: Continued solid cash flow in Q4
Continued solid cash flow in Q4 Cash flow from continuing operations per quarter (Amounts in NOK million) Q4 2021 Q4 2020 FY 2021 FY 2020 (NOK million) 238 Profit/loss before tax -6 -36 -24 -94 Net cash flow from operating activities - continuing 149 110 358 312 Net cash flow from operating activiti
Slide 11: Solid financial position as per 31 December
Solid financial position as per 31 December Net interest-bearing debt Bank and bond maturities (NOK million) (NOK million) • Cash position of NOK 626 million • Undrawn Revolver Credit Facility of NOK 200 million 600 • Net interest-bearing debt of NOK 891 million - NOK 399 million excluding leasing •
Slide 12: Solid order intake Q4 2021
Solid order intake Q4 2021 Order book Order intake (NOK million) (NOK million) 7 647 7 801 2 683 6 835 • Order book NOK 7,801 million 6 693 6 475 2 166 634 5 961 1 872 • Order intake of NOK 1,872 million 921 8060 7152 7391 7566 7237 1 393 • 2021 order intake NOK 7,581 million 6495 6326 937 6058 1 20
Slide 13: Improved order book and book-to-bill
Improved order book and book-to-bill Order book execution by country Book-to-bill ratio NOK million Period order intake/revenue 1,8 Book to bill Book to bill LTM/ LTM Revenue 4 500 4 101 1,6 4 000 1,4 1,3 3 500 1 497 1,2 3 000 2 532 0,9 1,0 2 500 0,8 0,8 2 000 1 325 1 458 0,6 1 500 1 168 1 000 0,4 5
Slide 14: Operational review
Bytte ut Operational review
Slide 15: NRC Group Finland – Strong profitability
NRC Group Finland – Strong profitability Order backlog (NOK million) Q4 2021 Q4 2020 (NOK million) Revenue 706 740 EBITA* 59 62 3 579 EBITA* margin 8.3% 8.4% Order intake 968 484 2 568 2 082 1 202 Coming years • Organic growth** +3% • Strong profitability driven by Rail construction • Change in reve
Slide 16: NRC Group Finland – Decline in tender pipeline, but record high investment budget
NRC Group Finland – Decline in tender pipeline, but record high investment budget in Rail Construction NOK 1.6 billion tender pipeline1 • Decreased with NOK 2.4 Bn from Q321 pipeline, mainly from NOK million value, # of tenders, next 9 months rail construction projects due to postponed tenders Tende
Slide 17: NRC Group Norway – Improved profitability and strong growth
NRC Group Norway – Improved profitability and strong growth Order backlog (NOK million) Q4 2021 Q4 2020 (NOK million) Revenue 508 442 2 214 EBITA* 21 -43 1 796 EBITA* margin 4.2% -9.7% 935 Order intake 495 534 824 Coming years 1279 2022 972 • Organic growth 15% • Improved profitability driven by Env
Slide 18: NRC Group Norway - Solid tender pipeline
NRC Group Norway - Solid tender pipeline NOK 8.9 billion tender pipeline1 NOK million value, # of tenders, next 9 months 7 000 4 850 #12 Strong pipeline • Increase of NOK 1.4 bn in tender pipeline vs Q321 6 000 and an increase of NOK 2.7 bn vs last year • Mainly increase in rail construction 5 000 #
Slide 19: NRC Group Sweden – weak results – better outlook for 2022
NRC Group Sweden – weak results – better outlook for 2022 Order backlog (NOK million) Q4 2021 Q4 2020 (NOK million) Revenue 398 396 EBITA* -21 -22 EBITA* margin -5.2% -5.5% 2 112 2 008 Order intake 409 375 683 1 053 Coming years 1 325 2022 1 058 • Organic growth** +7% • EBITA affected by low revenue
Slide 20: NRC Group Sweden – Continued high tender activity expected
NRC Group Sweden – Continued high tender activity expected NOK 8.6 billion tender pipeline1 NOK million value, # of tenders, next 9 months 6 000 5 550 • At same level as Q321 pipeline #17 5 000 • Decrease of NOK -1.4 Bn compared last year at same time, mainly Tender pipeline explained reduced level
Slide 21: Summary Q4
Summary Q4 Bytte ut • Organic revenue growth 7% • Improved profitability Financials • Strong order intake • Solid cash flow • Continued focus on core processes in tendering and project execution Operations • Focus on profitable growth Outlook 2022 • Continued positive operational and financial devel
Slide 22: Appendix
Bytte ut Appendix
Slide 23: Segments – Key figures quarterly development
Segments – Key figures quarterly development Reported** Reported** ReportedReported*** Reported Reported Reported Reported Reported Reported Reported Reported Norway operations (NOK million) FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 20
Slide 24: Finland – Proposed higher level of investment in 2022
Finland – Proposed higher level of investment in 2022 Rail investments and maintenance spending1 EUR million, 2019-24 1045 • Proposed investments and spending at EURO 1.04 Bn 982 Budget proposal 889 914 916 • Investments and renewals at high levels 479 370 370 420 444 591 217 290 328 266 211 208 119
Slide 25: Sweden – Budget 2022 in line with expectations
Sweden – Budget 2022 in line with expectations Rail investments and maintenance spending1 SEK billion, 2019-24 • SEK 30.7 Bn for 2021, +2% higher than estimated Budget in the NTP 33,9 30,4 30,7 29,1 • SEK 16.7 Bn mainly targeted to existing larger 27,9 28,2 Rail investments projects, slightly higher
Slide 26: Norway - Budget 2022 for operation and investments is in line with 2021 and NTP
Norway - Budget 2022 for operation and investments is in line with 2021 and NTP Rail investments and maintenance spending1 NOK billion, 2019-24 • NOK 26.7 Bn for 2022, at same level as 2021 and NTP for Budget 2022 29,5 28,4 26,5 26,5 26,7 26,6 • Increase of NOK +3.0 Bn from 2021 mainly due increased