Preferred partner Aker Solutions SEB Nordic Seminar, 9 January 2014 Leif Borge CFO Public 2013 Aker Solutions Slide 1 9 January 2013 SEB Nordic Seminar2014 Preferred partner
Streamlining the business Sale of WIS Deepwater and to EQT subsea oil-services company Sale of P&C Sale of MLS to Jacobs to Cargotec 2010 2013 Future 2002 2011 2014 Demerger of 7 business Marine Contractors areas…
Aker Solutions Strengths Subsea factory solutions Drilling packages Offshore field design Increased oil-recovery technology Public 2013 Aker Solutions Slide 3 9 January 2013 SEB Nordic Seminar2014 Preferred partner
Recent industry trends The oil price is steady at about 100 USD Oil companies face challenges in growing their capex, dividends Brent Oil MSCI World Capex Dividends Operating cash flow 150 1600 USD bn 140 350 324 325 1500 317 130…
Outlook: Subsea SUB Fastest-growing offshore oil service segment Subsea business area has grown backlog by Important tenders in Brazil and Angola NOK 14.2 billion this Market leading in subsea trees and year controls Public…
Outlook: Drilling Technologies DRT Continued demand for new drilling rigs The floater and jack-up Brazil, Africa and Gulf of Mexico main markets are expected growth areas to increase by more Expanding customer base than 15…
Outlook: Engineering ENG Increasing complexity boosts engineering demand Global offshore- engineering services Johan Sverdrup is crucial market seen growing Expected stream of FEED projects 10-15 percent a year Arctic region…
Outlook: Maintenance, Modifications & Operations MMO MMO positioned for international growth International MMO Good progress in Brunei, UK and Canada markets expected to Tighter competition in Norway grow between 4-12 percent…
Our agenda: improve profitability and return on capital We will continue investing in growth with increased capital discipline and greater scrutiny on our investments returns So that our main focus going forward is to improve…
From nine to six business areas Revenue and EBITDA (9 BA)1 Net capital employed and ROACE (9 BA) NOK billion NOK billion and % Revenue EBITDA Net capital employed ROACE 50 5.0 25 30% 45.8 44.8 22.4 4.4 45 4.5 3.9 25% 40 4.0 20…
Our business going forward is changed Divestment plan Net capital employed Net interest bearing items By divestment object NOK billion NOK billion 22.4 9.9 Nine business area Aker Solutions MLS MLS Mooring and Loading Systems…
Slimmer capital base and more financial capacity Asset approach Equity and liabilities approach NOK billion NOK billion By balance sheet item and business area 9 BA Aker Solutions 6 BA Aker Solutions 25 25 25 25 25 WIS & MLS 2.5…
Look at the 6 BA performance to understand the future Revenue and EBITDA (six BA)1 Net capital employed and ROACE (six BA) NOK billion NOK billion and % Revenue EBITDA Net capital employed ROACE 50 5.0 25 30% 45 4.5 26.0% 41.8…
We have to improve our return on capital employed Our nine BA history: weak return on investments Our improvement agenda Nine BA and six BA ROACE % 30% Increase our capital discipline 26.0% 25% Increase the hurdle rate for our…
We have to reduce Aker Solutions risk premium Our history Our improvement agenda Share price development indexed to AKSO January 2012 Portfolio optimisation Less EPC AKSO More exposure to stable earnings (e.g. services and…
The case for action Margin levels Margin predictability 3% to 4 % lower than peers Historical erosion vs as sold Unlock the value Optimise our cost base Decrease our variation 2013 Aker Solutions Slide 16 9 January 2013 SEB…
Optimise our cost base Leverage our size Enhance our productivity Streamline Direct our Aker structure materials Solutions cost base Engineer to value Direct labour SG&A Eng+ other BNOK 2012 TY attributable…
Our core is now made up of two parts ENG and MMO SUB, DRT, UMB and PRS % of six BA total % of six BA total Technology business with large elements Product based technology manufacturing business Description of day rate/ reimbursable…
Aker Solutions going forward Revenue Balance sheet We see the general market growing Maintenance capex and R&D: 3 % of 8-10% and our core markets growing revenues faster Working capital: 7 - 8 % of revenues Projects: Low, but…
Aker Solutions 2014 A more streamlined and capital-disciplined Aker Solutions will foster growth, better earnings predictability and higher ROCE Public 2013 Aker Solutions Slide 21 9 January 2013 SEB Nordic Seminar2014 Preferred…
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