1 ST QUARTER RESULTS Kenneth Ragnvaldsen, CEO April 19, 2013, Oslo

Transcription

1 Q1 1 ST QUARTER RESULTS 2013 Kenneth Ragnvaldsen, CEO April 19, 2013, Oslo

2 AGENDA Financial status Business update Outlook Q&A

3 HIGHLIGHTS Profitability continues to improve. Positive development in Services. Strong order intake and all time high order backlog in Product & Solutions. Well positioned in main markets and several new contracts in Sweden.

4 OPERATING REVENUES PER QUARTER Q Q Q Q Q Q Q Q Q1-2013

5 OPERATING REVENUES YTD

6 EBITDA PER QUARTER 12,0 10,0 9,3 10,3 9,7 11,0 8,0 6,0 5,2 6,1 4,0 3,4 3,0 2,0 1,8 0,0 Q Q Q Q Q Q Q Q Q1-2013

7 EBITDA YEAR TO DATE ,6 11,0 10 9, ,0 4 3,0 2 1,

8 EBITDA 12 MONTH ROLLING 40,0 35,0 35,3 37,0 30,9 30,0 27,8 25,0 20,0 21,0 15,0 13,4 10,0 5,0 2,1 2,8 4,1 0,0 Q Q Q Q Q Q Q Q Q1-2013

9 ORDER INTAKE PER QUARTER Q Q Q Q Q Q Q Q Q1-2013

10 ORDER BACKLOG Q Q Q Q Q Q Q Q Q1-2013

11 PROFIT AND LOSS NOK MILLION Q Q % Operating revenue % Cost of goods sold Payroll expenses Other operating expenses EBITDA EBIT Profit before taxes NOK MILLION % 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 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 0%

13 EMPLOYEES PER COUNTRY, YTD 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) Equity attributable to owners of the parent Non-controlling interests Total equity Non-current liabilities Current interest-bearing loans Accounts payables Other current liabilities Current liabilities Total equity and liabilities

15 BALANCE SHEET AT MARCH Interestbearing debt 0,0 Interestbearing debt 22,2 NO INTEREST- BEARING DEBT at Non-current assets 181,9 Non-current assets 175, Other liabilities 149,3 Other liabilities 185,2 INVENTORIES increased by NOK 5.7 million Inventories 58,8 Inventories 64,5 Receivables 210,1 Receivables 173, Equity 276,2 Equity 246,3 RECEIVABLES reduced by NOK 36.4 million EQUITY RATIO 65 % Cash 3,0 Cash 11,5 Q Q Q Q1 2012

16 DEBT / EQUITY FINANCIAL DEBT (NOK MILLION) EQUITY RATIO 91 65% 65% 62% 59% 59% 55% Q Q1-13

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 Cash flow - operating activities Cash flow - investing activities Cash flow - financing activities Net cash flow from the period

18 DIVIDENDS The board of directors has proposed to the annual general meeting April 25, 2013 to distribute a dividend of NOK 0.25 per share for The dividend accrues to the shareholders as of April 25, 2013, with expected dividend payment on May 8, 2013.

19 REVENUE DISTRIBUTION YTD 2013 Products & Solutions 50 % Sweden 43 % Norway 47 % Services 50 % Denmark 3 % Germany 7 %

20 SERVICES REVENUE YTD REVENUE DISTRIBUTION Automation 1 % Oil services / maritime 13 % Telecom 27 % Transport ation 19 % Sweden 71 % Medical 4 % Defence 17 % Other 19 % Norway 29 % TOP CUSTOMERS 5 largest 39 % 10 largest 47 % Other 61 % Other 53 %

21 REVENUE / EBITDA SERVICES REVENUE (NOK MILLION) EBITDA (NOK MILLION) , ,1 4,8 4,1 4,9 3,2 0,4 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q ,3 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13

22 SERVICES NOK MILLION Q1-13 Q1-12 % Revenue % EBITDA EBITDA margin 8.2 % 3.5 % Order intake Order backlog The downsizing of loss making units and non-strategic areas has impacted the revenue in Q1. PROFIT MARGINS INCREASED due to good overall utilization, a good market position and concentration on core market regions. The company has experienced SOLID DEMAND from customers in the main markets during the quarter. Going forward, the company expects a POSITIVE DEVELOPMENT within Services in 2013.

23 PRODUCTS & SOLUTIONS REVENUE YTD REVENUE DISTRIBUTION Automat ion 5 % Telecom 15 % Transpor tation 13 % Other 11 % Defence 9 % Norway 65 % Sweden 16 % Denmark 6 % Oil services / maritime 43 % Medical 4 % Germany 13 % TOP CUSTOMERS 5 largest 40 % 10 largest 60 % Other 60 % Other 40 %

24 REVENUE / EBITDA PRODUCTS & SOLUTIONS REVENUE (NOK MILLION) EBITDA (NOK MILLION) ,1 9,8 7,3 7,2 6,8 5,6 4,5 2,8 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13

25 ORDER INTAKE / BACKLOG PRODUCTS & SOLUTIONS ORDER INTAKE (NOK MILLION) BACKLOG (NOK MILLION) Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13

26 PRODUCTS & SOLUTIONS NOK MILLION Q1-13 Q1-12 % Revenue % EBITDA EBITDA margin 5.8 % 7.3 % Order intake Order backlog The revenue was impacted by DELAYS in a larger solution delivery program during the quarter. The company had a strong order intake and ALL-TIME HIGH order backlog. 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. Several IMPORTANT CONTRACTS was awarded in Sweden during the last quarter.

27 BACKLOG PRODUCTS & SOLUTIONS Q1 07 Q2 07 Q3 07 Q4 07 Q1 08 Q2 08 Q3 08 Q4 08 Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13

28 AGENDA Financial status Business update Outlook Q&A

29 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: 387

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

31 PRODUCTS SOLUTIONS

32 COMPLETE SOLUTION PROVIDER

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

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

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

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

37 MARKET UPDATE

38 MARKET Telecom 21 % Automation 3 % Medical 4 % Oil services / maritime 28 % Transportation 16 % Other 15 % Defence 13 % Positive market climate in main markets, but lower activity in some sectors. Strong development in Oil service/maritime. Increasing demand for reliable, safe and robust solutions for tough environmental conditions. Still strong demand for engineers.

39 IMPACT FROM CONSUMER ELECTRONICS

40 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.

41 IMPACT ROUGH ENVIRONMENTS

42 STOCK EXCHANGE NOTICES [ ] SOLUTION CONTRACT IN DEFENCE OF NOK 13 MILLION [ ] CONTRACT EXTENSION IN MEDICAL OF NOK 22 MILLION [ ] SOLUTION CONTRACT IN MARITIME WORTH NOK 15 MILLION [ ] CONTRACT IN SWEDISH DEFENCE SECTOR OF SEK 10 MILLION [ ] CONTRACT IN SWEDISH INDUSTRIAL MARKET OF SEK 11 MILLION

43 AGENDA Financial status Business update Outlook Q&A

44 FOCUS Customer growth in main markets Quality and operations Profitability

45 OUTLOOK Good market conditions in core business areas Strengthened strategic position in main markets Expect improved Profitability and Cash Flow in 2013

46 CMD 2013 Data Respons will arrange Capital Markets Day Date: Monday 3 June, 2013 from 14:00 to 17:00 Place: Oslo

47