4 TH QUARTER RESULTS Kenneth Ragnvaldsen, CEO February 1, 2013, Oslo

Transcription

1 Q4 4 TH QUARTER RESULTS 2012 Kenneth Ragnvaldsen, CEO February 1, 2013, Oslo

2 AGENDA Financial status Business update Outlook Q&A

3 HIGHLIGHTS Profitability continues to improve High activity. Strong order intake Positive book to bill Strengthen strategic position in main markets Strong operating cash flow

4 OPERATING REVENUES PER QUARTER Q Q Q Q Q Q Q Q Q4-2012

5 OPERATING REVENUES YTD

6 MNOK REVENUE CHANGES PER COUNTRY Underlying growth of 8 % in main markets Revenue 2011 Norway Sweden Denmark Germany / Eliminations Revenue 2012

7 EBITDA PER QUARTER 12,0 10,0 9,3 10,3 9,7 8,0 6,0 5,2 6,1 4,0 3,4 3,0 2,0 1,8 0,0-2,0-4,0-6,0 Q Q Q Q Q Q Q Q Q ,1

8 EBITDA 12 MONTH ROLLING 40,0 35,0 35,3 30,9 30,0 27,8 25,0 20,0 21,0 15,0 13,4 10,0 5,0 3,3 2,1 2,8 4,1 0,0 Q Q Q Q Q Q Q Q Q4-2012

9 ORDER INTAKE PER QUARTER Q Q Q Q Q Q Q Q Q4-2012

10 ORDER BACKLOG Q Q Q Q Q Q Q Q Q4-2012

11 PROFIT AND LOSS NOK MILLION Q Q CHANGE Operating revenue % Cost of goods sold Payroll expenses Other operating expenses EBITDA EBIT Profit before taxes NOK MILLION YTD 2012 YTD 2011 CHANGE Operating revenue % Cost of goods sold Payroll expenses Other operating expenses EBITDA EBIT Profit before taxes

12 OPERATING EXPENSES (NOK MILLION) Payroll Other expenses Payroll % of revenue Other expenses % of revenue % % 40% 60 30% 40 20% % 0 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 0%

13 EMPLOYEES PER COUNTRY, YTD 600 Denmark Germany Sweden Norway

14 BALANCE SHEET ASSETS (NOK MILLION) Intangible assets Deferred tax assets Machinery & equipment Other non-current assets Total non-current assets Inventories Receivables Cash and cash equivalents Total current assets Total assets EQUITY AND LIABILITIES (NOK MILLION) Total equity Non-current liabilities Current interest-bearing loans Accounts payables Other current liabilities Current liabilities Total equity and liabilities

15 BALANCE SHEET AT DECEMBER Interestbearing debt 0,0 Interestbearing debt 24,1 NO INTEREST- BEARING DEBT at Non-current assets 184,9 Non-current assets 173, Other liabilities 175,9 Other liabilities 177,5 INVENTORIES reduced by NOK 4.1 million Inventories 59,0 Inventories 54, RECEIVABLES reduced by NOK 1.6 million 100 Receivables 195,2 Receivables 193,6 100 Equity 253,3 Equity 242,4 EQUITY RATIO 59 % Cash 4,9 Cash 7,0 Q Q Q Q4 2011

16 DEBT / EQUITY FINANCIAL DEBT (NOK MILLION) EQUITY RATIO % 65% 62% 59% 91 54% 55%

17 CASH FLOW NOK MILLION Q Q Cash flow - operating activities Cash flow - investing activities Cash flow - financing activities Net cash flow from the period NOK MILLION YTD 2012 YTD 2011 Cash flow - operating activities Cash flow - investing activities Cash flow - financing activities Net cash flow from the period

18 REVENUE DISTRIBUTION 2012 Products & Solutions 52 % Sweden 42 % Services 48 % Norway 46 % Denmark 5 % Germany 7 %

19 SERVICES REVENUE YTD REVENUE DISTRIBUTION Automation 3 % Oil services / maritime 13 % Telecom 24 % Transport ation 20 % Sweden 71 % Denmark 2 % Germany 2 % Medical 4 % Defence 19 % Other 17 % Norway 25 % TOP CUSTOMERS 5 largest 43 % 10 largest 52 % Other 57 % Other 48 %

20 REVENUE / EBITDA SERVICES REVENUE (NOK MILLION) EBITDA (NOK MILLION) ,9 4,1 4,8 4,1 4, ,2 0,4 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q ,3 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12

21 SERVICES NOK MILLION Q4-12 Q4-11 % Revenue % EBITDA EBITDA margin 4.7 % 4.0 % Order intake NOK MILLION YTD-12 YTD-11 % The downsizing of the organization in loss making units has impacted the revenue in PROFIT MARGINS INCREASES due to the focus on strategic important markets and core capabilities. The company has EXPERIENCED SOLID DEMAND FROM CUSTOMERS IN THEIR MAIN MARKETS during the quarter. Revenue % EBITDA EBITDA margin 3.1 % 2.9 % Order intake Order backlog Going forward, the company expects a positive development and IMPROVED PROFIT MARGINS within Services in 2013.

22 PRODUCTS & SOLUTIONS REVENUE YTD REVENUE DISTRIBUTION Automat ion 6 % Oil services / maritime 39 % Telecom 15 % Transpor tation 10 % Medical 14 % Other 9 % Norway 67 % Defence 7 % Sweden 15 % Germany 11 % Denmark 7 % TOP CUSTOMERS 5 largest 38 % 10 largest 59 % Other 62 % Other 41 %

23 REVENUE / EBITDA PRODUCTS & SOLUTIONS REVENUE (NOK MILLION) EBITDA (NOK MILLION) ,3 8,1 9,8 7,2 6,8 4,5 2,8 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q ,6 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12

24 ORDER INTAKE / BACKLOG PRODUCTS & SOLUTIONS ORDER INTAKE (NOK MILLION) BACKLOG (NOK MILLION) Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12

25 PRODUCTS & SOLUTIONS NOK MILLION Q4-12 Q4-11 % Revenue % EBITDA EBITDA margin 6.2 % 4.1 % Order intake The solutions and products business continued to grow, especially in the COMPANY S MAIN MARKETS. Further IMPROVEMENT IN PROFITABILITY is expected through a more cost-effective and focused business model, including a stronger coordination of the Nordic operations and transferring tasks to our Asian organization and global partners. The company has a STRONG ORDER INTAKE and increasing base of recurring solution customers and a solid order backlog going forward. NOK MILLION YTD-12 YTD-11 % Revenue % EBITDA EBITDA margin 7.2 % 3.2 % Order intake Order backlog Several IMPORTANT CONTRACTS was awarded during the last quarter.

26 AGENDA Financial status Business update Outlook Q&A

27 DATA RESPONS We are a full-service, independent technology company and a leading player in the embedded solutions market. ESTABLISHED: 1986 Listed on the Oslo Stock Exchange (Ticker: DAT) CERTIFICATIONS: ISO 9001:2008 ISO 14001:2004 OHSAS 18001:2007 EMPLOYEES: 394

28 SERVICES EXPERIENCED SPECIALISTS Leading edge knowledge through ACTIVE ENGINEERING EXPERTS, covering all vital parts of the development cycle.

29 PRODUCTS SOLUTIONS

30 COMPLETE SOLUTION PROVIDER

31 LOCAL CLOSE TO THE CUSTOMER Vertical competence and experience important. SPECIFICATION DEVELOPMENT DELIVERY NEW GENERATION

32 LEADING EMBEDDED SW/HW EXPERTS ACCESS TO LEADING EDGE COMPETENCE SPECIFICATION DEVELOPMENT DELIVERY NEW GENERATION

33 ASIA LOW-COST AND HIGH QUALITY ACCESS TO ASIA AND WORLD LEADING PARTNERS SPECIFICATION DEVELOPMENT DELIVERY NEW GENERATION

34 PARTNER NEW TECHNOLOGY & REDUCED COSTS LONG TERM INNOVATION SPECIFICATION DEVELOPMENT DELIVERY NEW GENERATION

35 MARKET UPDATE

36 MARKET Positive overall market climate, but lower activity in some sectors. Automation 4 % Medical 9 % Telecom 19 % Transportation 15 % Oil services / maritime 27 % Defence 13 % Other 13 % Strong development in Oil service/maritime. Increasing demand for reliable, safe and robust solutions for tough environmental conditions. Partnerships and closer cooperation between suppliers and customers. Still strong demand for engineers.

37 IMPACT FROM CONSUMER ELECTRONICS

38 IMPACT FROM ASIA SPEED Local presence and strategic partnerships reduce the overall turnaround time. INNOVATION Access to the primary area for embedded technology in the world. COST Asian high-volume production set-up with a better cost-benefit ratio.

39 IMPACT ROUGH ENVIRONMENTS

40 STOCK EXCHANGE NOTICES [ ] CONTRACT WORTH NOK 40 MILLION [ ] SOLUTION CONTRACT FOR THE TRANSPORT SECTOR [ ] SOLUTION CONTRACT WORTH NOK 20 MILLION [ ] CONTRACT IN OIL SERVICE WORTH NOK 9 MILLION [ ] CONTRACTS IN OIL SERVICE VALUED AT NOK 15 MILLION

41 AGENDA Financial status Business update Outlook Q&A

42 FOCUS Customer growth in main markets Quality and operations Profitability

43 OUTLOOK Good market conditions into 2013 Expect improved Profitability and Cash Flow in 2013 Strengthened strategic position in main markets

44