Kongsberg Gruppen Asa · OSL:KOG
Kongsberg Gruppen Asa — Q3 2018 Earnings Presentation
16 slides from Kongsberg Gruppen Asa's earnings presentation, Oct 26, 2018
Slide 1: Investor Presentation 3rd quarter 2018
INVESTOR PRESENTATION 3rd quarter 2018 26/10/2018 Geir Håøy, President & CEO Gyrid Skalleberg Ingerø, 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
Slide 2: Highlights Q3
Highlights Q3 3 154 4 477 REVENUES NEW ORDERS Unanimous support on rights issue from Norwegian Parliament Solid order intake in KM, Q3 book/bill 1.68 2018 Continued solid operations in KDA, CROWS-deliveries secured for another five years 347 11.0 % EBITDA EBITDA-MARGIN WORLD CLASS – Through people,
Slide 3: Financial Status
Financial Status WORLD CLASS – Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information 3
Slide 4: YTD 2018
REVENUES EBITDA YTD 2018 10 233 MNOK 874 MNOK Solid order intake, both in KM and KDA KM MNOK 5 504 (5 552) KM MNOK 454 (361) KDA MNOK 4 206 (4 650) KDA MNOK 492 (391) Increased profitability YTD Somewhat lower revenues EBITDA-margin 2018 NEW ORDERS 8.5 % 12 715 MNOK KM 8.2 % (6.5 %) KM MNOK 7 031 (5
Slide 5: Revenues Q3
3 428 REVENUES Q3 3 279 3 154 Q3 revenues down 3.8 % KM revenues down 0.9 % YoY Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2016 2017 2018 KDA revenues down 7.9 % YoY KM KDA 1 798 Other 1 180 176 WORLD CLASS – Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary in
Slide 6: EBITDA Q3
Q3 2018 EBITDA Q3 MARGIN 274 347 Improved underlying 11,0% margin -40 ‐ MNOK 25 integration costs Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 in Q3 2018 2016 2017 2018 ‐ MNOK 90 restructuring costs in Q3 2017 KM High utilization in KM’s lifecycle business KDA Continued solid margin in KDA 120 10.2 % MARG
Slide 7: New Orders Q3
4477 Q3 2018 4067 ORDER BACKLOG NEW ORDERS Q3 17 602 2429 KM book/bill 1.68 Three major orders, totaling Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 approx. MNOK 650 in addition 2016 2017 2018 to continued good ordering from the traditional merchant KM segments, and within marine robotics and fishery KDA 1
Slide 8: New orders by division - Kongsberg Defence & Aerospace
YTD 22% 15% 2018 OTHER* AERO- STRUCTURES 20% New orders by division YTD 2018 – Kongsberg Defence & Aerospace 43% PROTECH SYSTEMS MISSILE SYSTEMS 16% 20% AERO- OTHER* STRUCTURES 5% MISSILE SYSTEMS 59% PROTECH Q3 SYSTEMS 2018 *Other includes Defence Communications, Integrated Defence Systems and WORLD
Slide 9: New orders by Division - Kongsberg Maritime
YTD 2018 30% 18% SOLUTIONS VESSEL SYSTEMS New orders by Division 2018 – Kongsberg Maritime 22% Q3 GLOBAL CUSTOMER 30% 2018 46% SUPPORT* SUBSEA** 13% VESSEL SOLUTIONS SYSTEMS 19% 22% GLOBAL CUSTOMER *Global Customer Support does not include SUBSEA** SUPPORT* Subsea aftermarket ** Subsea also includes
Slide 10: Strong balance sheet
Strong balance sheet Q3 2018 Q2 2018 2017 Gross interest bearing debt 3 326 3 337 3 340 Cash and short-term deposits 2 990 2 630 2 956 Net interest bearing debt 336 707 384 Equity ratio 35.5 % 35.1 % 35.6 % ROACE 10.8 % 9.4 % 9.1 % WORLD CLASS – Through people, technology and dedication KONGSBERG PR
Slide 11: Debt position
Debt position Healthy maturity profile NET INTEREST BEARING DEBT BONDS - MATURITY PROFILE 1 000 1 000 2782 1991 550 450 250 336 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2018 2019 2020 2021 2022 2023 2024 2025 2026 2016 2017 2018 WORLD CLASS – Through people, technology and dedication KONGSBERG PROPRIETARY -
Slide 12: Business Update
Business Update WORLD CLASS – Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information
Slide 13: Business Update Kongsberg Maritime
Business Update Kongsberg Maritime Several orders on larger integrated KM solutions - Awilco Good order - Grimaldi intake, stable - Offshore Heavy Transport revenues and Continued good order intake from improved traditional merchant such as bulk, margins container and LNG-vessels Subsea segmen
Slide 14: Business Update Kongsberg Defence & Aerospace
Business Update Kongsberg Defence & Aerospace Next five years of deliveries to the KDA CROWS-program secured - MUSD 498 Framework agreement Solid margins - First contracted signed, valued at MUSD 74 and next five - Delivered 12.500 RWS under years of CROWS CROWS so far deliveries - More than 15.00
Slide 15: Business Update Kongsberg Digital & Patria
Business Update Kongsberg Digital & Patria KDI Patria High development activity in initiatives MEUR 93 revenues such as Kognifai and digital twin - 6.9 % increase from Q3 2017 Improved order intake in Q3 - Continued low activity and declining - MSGD 21 contract within Maritime backlog for Land
Slide 16: Questions?
Questions? www.kongsberg.com WORLD CLASS – Through people, technology and dedication KONGSBERG PROPRIETARY - See Statement of Proprietary information