First quarter results 2015 Kvaerner 2015 08.05.2015
Highlights First quarter 2015 Fatal accident at Stord, Norway High tendering activity Capacity and cost reductions Peak activity on Nyhamna onshore project Settlement agreement with Longview Power and other parties Photo:…
Key financials Revenues EBITDA Net current operating assets NOK million NOK million NOK million 4 500 300 4 000 -200 -515 250 -541 -624 3 500 -400 -922 3 000 200 -1 162 2 500 -600 150 * 289 4 004 2 000…
Order intake and backlog Order intake Order backlog NOK million NOK million 6 000 25 000 5 000 20 000 4 000 15 840 3 610 15 000 15% 3 000 35% 10 000 2 000 5 000 1 000 50% 0 0 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q1'14 Q2'14…
HSSE results Fatal accident in decommissioning at Stord in March Two Lost time Injuries Nine serious incidents More than 21 million worked hours last 12 months Lost time incident frequency (LTIF) and Total recorded incident…
Edvard Grieg topside completed on time Delivered on time without expensive delays or quality issues More than 75 percent* Norwegian value creation 150 subcontractors Development of expertise: Managing about 7 000 resources 49…
First quarter financials Eiliv Gjesdal, Chief Financial Officer
Income statement Amounts in NOK million Q1 2015 Q4 2014 Q1 2014 FY 2014 Total revenue and other income 3 525 3 591 3 489 13 945 EBITDA 101 175 170 828 Depreciation and amortisation (18) (20) (15) (70) Goodwill impairment - (266) -…
Upstream review Financials Orders High activity in most operations Growth in existing contracts Projects with a relative wide margin range Revenues, EBITDA and EBITDA margin Order backlog and order intake NOK million NOK million…
Financial outlook Revenues and backlog by execution year (31 March 2015) NOK million Historical revenues Backlog at 31 March 2015 Upstream revenues 2015 18 000 Growth in existing contracts 16 000 Activity level expected at NOK…
Cash flow and working capital development Amounts in NOK million Q1 2015 Q4 2014 Q1 2014 FY 2014 Cash flow from operating activities 98 365 (62) 193 Cash flow from investing activities (15) (36) (43) (171) Cash flow from financing…
Balance sheet Amounts in NOK million 31.03.2015 31.12.2014 31.03.2014 Assets Total non-current assets 1 895 2 010 2 137 Prepaid company tax 73 31 99 Current operating assets 3 446 3 268 3 533 Total cash and bank 1 284 1 208 1 430…
Market and outlook ENGINEERING PROCUREMENT CONSTRUCTION 14 Kvaerner 2015 08.05.2015
Strengthened competitiveness PREDICTABLE + OWN COST LEVEL + DELIVERY MODEL REDUCE INCREASE REDUCE INCREASE REDUCE INCREASE 15 Kvaerner 2015 08.05.2015
Low cost fabrication and strategic partnerships : Developing the delivery model NW Russia Norway Verdal Stord Canada Poland Caspian FE Russia Low cost fabrication Kvaerner current construction sites Current target…
Market segments with positive opportunities Market outlook Prospects Short term (2015): Norway / North Sea region: Some few key prospects up for Specific prospects with expected award* awards in 2015 Steel jackets opportunities Long…
Concluding remarks Deliver existing backlog as HSSE core value and planned licence to operate Win new contracts Maintain and develop home markets Complete implementation of Develop global delivery model ongoing cost reduction for…
APPENDIX 20 Kvaerner 2015 08.05.2015
Revenue distribution continuing operations Share of revenues 2013 Share of revenues 2014 Share of revenues last 12 months Percent Percent Percent NOK NOK NOK 13.0 13.9 14.0 billion billion billion Topsides Concrete Solutions…
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