SG BIDCO GROUP INTERIM QUARTERLY REPORT Q

Transcription

1 SG BIDCO GROUP INTERIM QUARTERLY REPORT Q TEX ' Z L L * \ ; = ' ^ 1 <. > t & g l * > * :- ~»» i. ^ i - a. v T S

2 Financials Q1-18 / Recuing evenue YTD Q ended 1.6 MNOK don compaed to the same peiod last yea. Hoeve, adjusted fo the negative FX effects, ecuing evenue is on level ith Q Due to the fact that some custome have changed fom annual to semi-annual subsciption peiods, ecuing evenue is affected negatively ith 2.5 MNOK YTD. These changes in subsciption peiod inceases the Goup's evenue potential in Q ith a coesponding amount. Looking at the inteim evenue numbes, please bea in mind that close to 50% of the Goup's evenues ae ecognized duing Q-4. SG BIDCO GROUP P & L Statement (NOK 1000s) Ql-2018 Ql-2017 Sub scip tion Rene al Sub scip tion N e Sub scip tion A ftesale Recuing Revenue CBT Couse Packages Couse O the R even ues Non Recuing Revenue TOTAL REENUE C ost o f Sa les TOTAL COST OF GOODS SOLD GROSS PROFIT G oss m agin 9 5,5 % 9 7,5 % D iect O p e x T a in in g C o n ten t D iect O pex Couse D iect O pex Soft ae D ivision Sa les & M aketing O th e O p e x OPEX EBITDA D epeciation A m otisation DEPRECIATION/AMORTIZATION EBIT N et cuency gains (1) N et in te e st e xp e n se Pofit befoe tax EX.O RD.ITEM S Net pofit (1): Of hich in elation to hedging potfolio: Net gains/(losses):

3 Balance Sheet v Balance Sheet - SG Bidco G oup Ql-2018 Ql-2017 Intangible Assets Tangible Assets Financial Fixed Assets Total Fixed Assets Tade Debtos Tade Debtos, Intagoup Inventoies Pepayments, Accuals,AT,Othe Rec Cash at Bank Total Cuent Assets TOTAL ASSETS Tade Ceditos Accued Inteest Othe Accuals&Othe Ceditos Payoll Taxes, Empl.tax, Holiday allo Copoation Tax Total Cuent Liabilities Defeed tax Long Tem Loan Othe Total Long Tem Liabilities Shae Capital Othe Equity Total Equity TOTAL LIABILITIES & EQUITY

4 Cash flo statement Cashflo fom opeations pe Q is heavily affected by Seagull's intoduction of ne ERP-systems, hich has caused delayed invoicing of customes and limited the the company's ability to do pope collections. Implementation of the ne ERP-system has no been successfully completed, meaning that cashflo fom opeations is expected to be back on tack duing Q Cash flo statem ent - SG Bidco G oup Ql-2018 Ql-2017 EBIT (15 724) (13 104) Add back Depeciation Add back Amotisation EBITDA (lnc.)/dec.tade eceivables/inventoies (Inc.j/dec.Pepayments / Accued Income (506) (2 103) lncease/(decease) in Tade payables (2 447) 481 lncease/(decease) in Accuals/povisions (2 846) (3 415) CASH GENERATED FROM OPERATIONS Capex (911) (3 236) Debt Amotization (25 280) 0 FX Effect (2 617) Exeptional items (8151) (1505) Inteest paid (1738) (3 523) CASHFLOW (195) CASH BALANCE, OPENING CASHFLOW (195) CASH BALANCE, CLOSING

5 Maket Development and key numbes Q1-18 The demanding maket conditions have continued into 2018, ith ovecpacity in key shipping segments that esults in poo ates. The eak maket continues to esult in high pessue on picing and focus on educed taining scope. Despite these tough maket conditions, the Goup has achieved inceased ode intake compaed to pevious yeas, fa above ou expectations fo Q We expeience a positive tend fo Seagull's poducts, and the incease in numbe of installations and customes has been vey positive both vs expectations and the last fe yeas. Thee ae clea impovements in some shipping segments, hile othes continue to face challenges. Oveall e expect a positive maket development, ith impoved ates in some of ou key shipping segments duing Key numbes potfolio FY-17 No of C ustom es at end o f peiod P otfolio alue (U SD 1000) at end o f peiod Ne sales odes (USD 1000) Q1-18 Q1-17 FY-17 N e O des total a lu e o f 10 la g e st O des lagest ne sales odes (USD 1000) Q1-17 FY-17 C u s to m e "A " C u s to m e "B " C u s to m e "C" FX ates Q Realized FX ates Revenue / Opex: Revenues: Q1-18 Q1-17 FY-17 U SD 7,93 8,43 8,27 S G D 6,03 5,96 5,88 E U R 9,58 8,89 9,23 Opex: U S D S G D E U R G B P ZL JP Y D K K 8,12 5,94 9,65 10,91 2,31 1,27 t 8,39 5,96 8,96 10,46 2,08 1,21 F 8,21 5,98 9,31 10,66 2,17 1,25