Q2 2015 Earnings Call – Aker Solutions

Aker Solutions · Jul 15, 2015 · 24 slides

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Slides

2Q 2015 Fornebu, July 15, 2015 Luis Araujo and Svein Stoknes
Agenda 2Q 2015 Introduction Luis Araujo Chief Executive Officer Financials Svein Stoknes Chief Financial Officer Q&A Session 2015 Aker Solutions Slide 3 July 15, 2015 Second-Quarter Results 2015 Preferred partner
Key Developments Revenue steady, helped by key projects from Africa to Norway and Brazil Profit margins narrow on Norway slowdown Workforce adjustments in MMO, subsea services in Norway Major projects progress as planned Solid…
Key Figures 2Q 2015 Revenue and EBIT Order intake and backlog NOK billion NOK billion Revenue EBIT Intake Backlog 10 0.6 25 60 8 20 8.0 0.4 40 44.0 6 15 0.4 4 10 0.2 20 2 5 3.4 0 0.0 0 0 2Q 3Q 4Q 1Q 2Q 2Q 3Q 4Q 1Q 2Q…
Improvement Agenda Collaboration is Key Collaboration with clients to achieve operational, cost-savings improvements Collaboration with Baker Hughes on early-phase studies Collaboration with Subsea 7 on FEED contract for Ophir…
Outlook Market uncertainty persists amid concern over capital constraints Tougher commercial environment and increasing price pressure Steady tendering in main markets, though seeing projects postponed Norway market sluggish…
Agenda 2Q 2015 Introduction Luis Araujo Chief Executive Officer Financials Svein Stoknes Chief Financial Officer Q&A Session 2015 Aker Solutions Slide 8 July 15, 2015 Second-Quarter Results 2015 Preferred partner
2Q 2015 Consolidated Income Statement Revenue for 2Q 2015 almost unchanged versus 2Q last year, reflecting good project progress 2Q 2015 EBITDA (excluding one-off items) reached NOK 609 million, equivalent to a margin of 7.6% (NOK…
2Q 2015 Financial Position Net interest-bearing debt was NOK 1.8 billion, gross debt at NOK 3.8 billion Financial leverage was 0.7x and gearing 31%, remaining well below policy of 1x net interest- bearing debt / EBITDA and less than…
2Q 2015 Consolidated Cashflow, Capex and NCOA 2Q 2015 cashflow from operations negative NOK 80 million Working capital (NCOA) at end of 2Q reached NOK 656 million, showing expected increase versus 2014 on major project progress…
Subsea 2Q 2015 revenue up 3% vs last year to NOK 4.8 Order intake in 2Q 2015 down versus 2Q billion 2014 to NOK 1.8 billion, 0.4x book-to-bill Main driver was progress on major projects in End 2Q 2015 order backlog was down year-…
MMO 2Q 2015 Revenue down 7.7% vs. last year to Order intake driven by markets outside Norway NOK 2.4 billion and was down year-on-year to NOK 1.3 billion, 2Q 2015 EBITDA margin of 2.8%, up versus 2Q 0.5x book-to-bill 2014 and 1Q 2015…
Engineering Revenue growth of 9.3% vs. last year, reaching Order intake for 2Q 2015 decreased to NOK 0.4 NOK 1 billion in 2Q 2015 billion, equivalent to 0.4x book-to-bill Main driver was good progress on key projects End 2Q 2015 order…
Good Visibility From Solid Order Backlog1 2Q 2015 Order backlog by execution date Order backlog and intake evolution NOK billion NOK billion 53.9 49.0 48.3 48.3 60 44.0 20 50 15 40 21.4 30 10 16.9 20…
Financial Guidance Revenue Balance sheet Positive long-term offshore, deepwater Maintenance capex / R&D 3% of revenue outlook Current major capex expansion plans to be Near-term uncertainty on timing of awards finished in 2015 Aim…
Agenda 2Q 2015 Introduction Luis Araujo Chief Executive Officer Financials Svein Stoknes Chief Financial Officer Q&A Session 2015 Aker Solutions Slide 17 July 15, 2015 Second-Quarter Results 2015 Preferred partner
Additional information 2Q 2015
Consolidated income statement NOK million Income statement consolidated 1Q 2013 2Q 2013 3Q 2013 4Q 2013 FY 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 FY 2014 1Q 2015 2Q 2015 Operating revenue and other income 7,317 7,435 6,758 7,548 29,058…
Consolidated assets & debt and equity NOK million Assets 1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 1Q 2015 2Q 2015 Property, plant and equipment 2,539 2,691 2,814 3,072 3,067 3,180 3,203 3,603 3,586 3,754 Intangible…
Consolidated cashflow NOK million Cashflow 1Q 2013 2Q 2013 3Q 2013 4Q 2013 FY 2013 1Q 2014 2Q 2014 3Q 2013 4Q 2014 FY 2014 1Q 2015 2Q 2015 EBITDA continuing operations 488 439 567 668 2,162 623 587 617 785 2,675 591 547 Change in…
Split per segment NOK million Revenues 1Q 2013 2Q 2013 3Q 2013 4Q 2013 FY 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 FY 2014 1Q 2015 2Q 2015 Subsea 3,784 4,103 3,653 4,164 15,703 4,105 4,672 5,054 5,461 19,293 5,077 4,820 Field Design 2,999…
Split per segment NCOA 1Q 2013 2Q 2013 3Q 2013 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 1Q 2015 2Q 2015 Subsea 2,543 1,157 1,264 311 1,322 327 742 (332) 18 724 Field Design 117 352 268 (304) 275 250 532 71 212 54 Other 207 171 210 91…
Split per business area NOK million Revenues 1Q 2013 2Q 2013 3Q 2013 4Q 2013 FY 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 FY 2014 1Q 2015 2Q 2015 Subsea 3,784 4,103 3,653 4,164 15,703 4,105 4,672 5,054 5,461 19,293 5,077 4,820 Maintenance,…
Split per business area Order intake 1Q 2013 2Q 2013 3Q 2013 4Q 2013 FY 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 FY 2014 1Q 2015 2Q 2015 Subsea 18,855 3,800 3,367 2,668 28,691 4,423 18,463 1,791 2,630 27,306 1,998 1,782 Maintenance,…

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