NRC Group ASA (0DSJ) Q2 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the capital market updates and quarter two presentation for NRC Group. Welcome to all of you live here in House of Oslo and also a warm welcome to those of you participating on the stream. Let's take a short look at the agenda. We will start out by a short summary of second quarter results, and Ole will join me for that session. Before, I will summarize our strategy to succeed as a leader in sustainable infrastructure. After that, we will go more into the details on what kind of measures we have done to improve our core processes and what kind of results it has given, and then focus more forward on our strategy or how we are to succeed as a leader in sustainability. At around 11, our country managing directors will join us and do a regional review of their countries, focusing on the status and market opportunities. And in the end, Ole will come in and present our capital allocation priorities and how they will impact short- and long-term value creation in NRC Group. At the end, Lene, our EVP of communication, will host a Q&A session. And for those of you participating on stream, please write questions in the chat. Second quarter has been another strong quarter for NRC Group, and the fifth consecutive quarter with improved results. We were able to grow our revenues with 25% compared to second quarter last year, and our EBITDA with 34% compared to last year. We had a strong order intake of 2.7 billion, being a book-to-bill ratio for the quarter of 1.48. Our operating cash flow is somewhat weaker than last year due to the steep ramp up of activity. We have gone from 1.2 billion in revenues from quarter one to 1.9 billion in revenues in quarter two. And this ramp up is much steeper than last year. So it's natural that we are tying up more working capital. With...