BERGEN GROUP Presentation 1st quarter 2010 Oslo, May 12th 2010 Pl Engebretsen, CEO Bergen Group
AGENDA Highlights in Q1 10 Financial review Operational review Outlook 3
HIGHLIGHTS IN Q1 2010 Acceptable overall EBITDA-margin Success in revitalization out market strength within Ro-Pax (Roll-On-Roll-Off-Passenger- ship/ferry) Reduced operating revenue, but good performance in all major projects The…
Bergen Group on Oslo Stock Exchange Bergen Group moved from OB Standard to OB Match in December 2009 Increased trade activity has continued through 2010 Two disclosures of large shareholdings given in Q1: Spring Capital…
FOCUS ON CORE BUSINESS Bergen Group ASA Business Development Bergen Group Bergen Group BG BG Bg BG SPL Shared Services AS Management AS BSM AS Risnes AS Idntkni Intech AS Norway Bergen Group Bergen Group Bergen Group Bergen…
AGENDA Highlights in Q4 09 Financial review Operational review Outlook 7
INCREASED MARGIN REDUCED OPERATING REVENUE Good performance and profit in all major projects Low capacity utilization and temporarily reduction of the margins within offshore- division EBITDA in Q1 2010 (8,3%) in accordance with…
INCOME STATEMENT Q1 2010 CONDENSED CONSOLIDATED INTERIM INCOME STATEMENT (UNAUDITED) Condensed consolidated interim statement of income Figures in NOK MILLION Q1 2010 Q1 2009 YTD 2009 YTD 2008 2) Operating revenues 971 1 146 5 108 3…
BALANCE SHEET 10
AGENDA Highlights in Q1 10 Financial review Operational review Outlook 11
BERGEN GROUP - FOUR BUSINESS AREAS Strategic locations along the Norwegian Coastal line 12
SHIPBUILDING RESOURCES & FINANCIALS SHIPBUILDING Q1 09 to Q1 10 SHIPBUILDING TRONDHEIM: BG FOSEN BERGEN: BG BMV Order backlog per 31.03.10: NOK 3 043 mill* * 2x cruise ferries to Fjord Line not included (NOK 1,6…
CONITNUED STRONG MARGINS IN SHIPBUILDING High volume and strong margins - optimized yard capacity EBITDA-margin of 13,5 % in Q1 Contract on two new cruise-ferries for delivery in 2012 about to be finalized Increasing tender…
BERGEN GROUP SHIPBUILDING - CORE SERVICES Concept sales Design Steel fabrication Outfitting Increased demand for Design competence is Construction of steel Bergen Group is tailored assets and critical success factor in hulls is…
ORDER BACKLOG SHIPBUILDING PER 31.03.2010 Five advanced offshore vessels to be delivered through 2010 one delivery in Q1 BN83-86: Customer funding still not complete - start-up time remain uncertain *= Subject to board approval **…
OFFSHORE RESOURCES & FINANCIALS OFFSHORE Q1 09 to Q1 10 KIRKENES: BG Kimek NOK HARSTAD: BG Engineering mill. MURMANSK: BG Kimek BERGEN: BG Engineering HANYTANGEN: BG Hanytangen Order backlog per 31.03.10: NOK 155…
OFFSHORE PROMISING OUTLOOK Expected low activity in 1st half 2010 Strong and reliable signals of market improvements increased tender activity Investments in increased project capacity and improved control systems - ready for…
STRATEGIC POSITIONED IN THE NORTH The historical border agreement in the Barents Sea with a tremendous long term potential Bergen Group with an well established position in the Northern Area - on both side of the…
ORDER BACKLOG OFFSHORE PER 31.03.2010 *= Subject to board approval ** = Memorandum of Understanding Improved order backlog during April and May expected going forward Increased project capacity and improved control systems prepared…
TECHNOLOGY RESOURCES & FINANCIALS TECHNOLOGY Q1 09 to Q1 10 NOK mill. BERGEN: BG Dreggen SUNDE: BG Skarveland FITJAR: BG Vest Elektro POLAND: BG AMIA Order backlog per 31.03.10: NOK 375 mill. 22
TECHNOLOGY WELL PERFORMING BUSINESS MODEL Core activity continue with healthy profit and satisfying order backlog Bergen Group Dreggen established in Brazil and in Singapore exiting market opportunities Bergen Group Dreggen…
MARITIME SERVICE RESOURCES & FINANCIALS KIRKENES: BG Kimek MARITIME SERVICE Q1 09 to Q1 10 NOK mill. BERGEN: BG Skjndal/Laksevg/SiJo HALSNY: BG Halsny Order backlog* per 31.03.10 : NOK 39 mill. *Order backlog does not…
MARITIME SERVICE A FOCUS AREA Margins influenced by a very competitive situation Bergen Group sees growth opportunities in the Maritime Service Segment - also internationally The frame agreement with the Norwegian Navy…
SUMMARIZING ORDER BACKLOG PER 31.03.10 Order backlog of NOK QUARTERLY ORDER BACKLOG DEVELOPMENT 3,4 billion + 1,6 billion* by end of Q1 2010 Uncertain implementing- time for BOA-vessels Strong possibilities in frame contracts,…
AGENDA Highlights in Q1 10 Financial review Operational review Outlook 27
Bergen Group Strategy Improve operational and market synergies through constantly increasing efficiency, service and quality in the group structure Increased focus on market orientation and product development Develop a stronger…
OUTLOOK A challenging market situation about to improve - order backlog expected to increase Offshore-division with strengthened long term potential RoPax-contract will boost the development of tailor- made ship design Prepared…
BERGEN GROUP QUALITY THROUGH SERVICE AND INNOVATION THANK YOU FOR YOUR ATTENTION www.bergengroup.no 30
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