Scanship Holding ASA (SSHIP) 3Q2018 Trading Update Henrik Badin CEO Erik Magelssen CFO 1
about us • cruise and aquaculture technology provider for cleaner oceans • mission to improve clients environmental sustainability • well positioned in cruise on more than 100 ships, building strong presence in aquaculture • headquartered in Norway with subsidiaries in US for life cycle services and Poland for production • listed on Oslo Stock Exchange with ticker SSHIP • well experienced and highly qualified team in place for execution 2
sustainability for us it means technologies and solutions to prevent pollution to sea, recovering valuable resources from waste, and to reduce greenhouse gas emissions 3
technology offering Wastewater Sludge Foodwaste Waste Purification handling Processing management Delivered: 69 Delivered: 46 Delivered: 56 Delivered: 56 In order: 30 In order: 21 In order: 18 In order: 21 4
enhancing SDG with our environmental technologies for cruise and aquaculture we enhance with our new MAP technology for waste to energy and carbon capture we enhance 5
3Q2018 trading update • strong performance with highest ever revenues and YTD EBITDA (NOK million) 3Q 2018 3Q 2018 • focus on operational efficiency driving margin T otal Revenue 80.1 .1 226.6 .6 increase EBITDA 10.7 .7 27.0 • growth in both projects and aftersales EBITDA margin % 13.4% 11.9% .9% Order Backlog 485 6
90 25,0 % financial development in 3Q 80,1 80 20,0 % 70 60,3 60 48,4 15,0 % • 13,4 % ≈33% higher revenues in 3Q2018 compared to same 50 11,6 % period last year 40 • 10,0 % ≈53% higher EBITDA in 3Q2018 compared to same 30 period last year 20 3,9 % 5,0 % 10,7 7 10 1,9 0 0,0 % 1) 3Q2016 3Q2017 3Q2018 Revenue (MNOK) EBITDA (MNOK) EBITDA% 1) 2018 numbers are presented in accordance with IFRS 15 7
250 20,0 % 226,6 financial development YTD 3Q 18,0 % 200 16,0 % 177,5 14,0 % 11,9 % 150 • 133,2 12,0 % ≈28% higher revenues YTD 3Q2018 compared with 9,9 % same period last year 10,0 % • 100 8,0 % ≈54% higher EBITDA YTD 3Q2018 compared with same period last year 6,0 % 50 4,0 % 27 1,8 % 17,5 2,0 % 2,4 0 0,0 % YTD 3Q2016 YTD 3Q2017 YTD 3Q2018 1) Revenue (MNOK) EBITDA (MNOK) EBITDA% 1) 2018 numbers are presented in accordance with IFRS 15 8
order backlog (MNOK) 600 513 513 485 469 500 • backlog at 3Q2018 includes latest contract with Carnival Cruise Line 360 400 328 • 309 shipowners has placed orders at shipyards on Scanship options for a total volume of NOK 175 300 250 million YTD 2018 • 200 backlog at 3Q2018 including options awaiting to be ordered ≈NOK 660 million • 100 cruise newbuilding market growing, but cruise retrofit and aquaculture are coming strong 0 4Q2016 1Q2017 2Q2017 3Q2017 4Q2017 1Q2018 2Q2018 3Q2018 9
milestone in aquaculture • awarded 8 milestone contracts in the industry space • latest contract with Billund Aquaculture Service for sludge handling to “worlds largest fishfarm” Atlantic Sapphire in Miami • in all three segments; smolt, landbased fishfarm and seabased closed-cage • demand driven by environmental requirements and increased focus on recovery of phosphorous • industry growth target next 10 years (Norway to triple in size, world market to grow by ≈50%) 10
breakthrough with Carnival • new contract to support Carnival Cruise Line’s ongoing commitment to advanced wastewater purification systems • Carnival largest player in the industry with 104 ships across 10 brands, 26 ships in Carnival Cruise Line • Scanship AWP on the Vista platform at Fincantieri, with Carnival Vista and Carnival Horizon in operations • cruise industry leader with 28 turnkey Scanship AWP retrofits • huge untapped industry retrofit market of more than NOK 3 billion 11
waste to energy carbon capture • Scanship MAP being developed with 2019 go-to- market plan • unique microwave assisted pyrolysis converting waste into energy with carbon capture • will decarbonize cruise ships by shifting from incinerators, replacing fossil fuels and by producing activated carbon • currently being evaluated for multiple newbuild and retrofit cruise projects • nominated for “Årets Håndtrykk 2018” 12
end-of-waste solution • Scanship MAP produces biochar (activated carbon) from garbage, wastewater sludge and foodwaste • “end -of- waste” by degrading organic matter, micro pollutions and plastics to pure carbon • provides multiple opportunities on landbased waste & biogas management systems • biochar will be an attractive additive for agricultural soil improvement • biochar will replace the use of fossil coal in industrial energy production reducing CO2 emissions • a SMART CITY concept 13
executive management team Henrik ik Badin Erik ik Magels lssen sen Jonny Hansen Bjørn Abraham Bache Asgeir ir Wien Hennin ing Mohn Chief Executive Officer CEO Chief Financial Officer CFO Chief Operating Officer COO Chief Commercial Officer CCO Chief Development Officer CDO Chief Technical Officer CTO After joining Scanship in 2001 Before joining Scanship in 2017, Mr. Hansen joined Scanship in Mr. Bache joined Scanship Mr. Wien has held technical and Before being appointed as CTO and serving various Mr. Magelssen has more than 15 2006 and became COO in 2007 February 2018. He has more than R&D positions with Scanship in Scanship in 2016, Mr. Mohn management positions in years of experience as CFO in until the end of 2012. Coming twenty-five years of experience since 2002. He has more than 25 held other manager roles in Scanship Environmental, Mr. the companies VIA Travel Group out of employment as COO in from international business, years’ experience within Scanship and positions with Badin was appointed CEO of ASA and Kongsberg Automotive Vissim and VP Supply Chain in serving in leading positions in advanced tertiary waste water DNVGL, NIVA Norwegian Scanship in 2008. Mr. Badin has ASA. He also held the position of OceanSaver, he rejoined companies like treatment, potable water Institute for Water Research and 20 years of experience related to Group Finance Manager in Wilh. Scanship in 2017 as responsible Unitor/Wilhelmsen, Mettler- production, bio-residue Eurofins laboratory. He has 22 environmental engineering Wilhelmsen ASA. Mr. Magelssen for strategic initiatives. In April Toledo, Jotun and Elkem. During treatment, garbage handling years of experience related to onshore and in the maritime has a BA degree from Heriot 2018 he returned to the COO his career, he has lived 13 years and R&D studies. Mr. Wien holds environmental engineering and industries. He holds a Master of Watt University in Edinburgh, position. Mr. Hansen holds a outside Norway. Mr. Bache a Master of Science degree in from the international maritime Science degree in Civil and has attended the Norwegian mini MBA DIP from Probana holds a Master of Science Civil engineering from NTH industry. Mr. Mohn holds a engineering from NTH (NTNU). School of Economics, NHH (CPA, Business School. degree in Mechanical (NTNU) and an engineering Master of Science degree in Civil “Statsautorisert revisor”) and the Engineering from Glasgow degree in Aquaculture. engineering from NTH (NTNU) Executive education program at University. and a Master of Science degree Harvard Business School. from the University of Washington in Environmental engineering. 14
largest shareholders NUMBER OF % OF TOTAL TYPE COUNTRY SHARES INGERØ REITEN INV. COMPANY AS 31 500 000 32,98 % Comp. NOR BADIN INVEST LIMITED 10 500 000 10,99 % Comp. NOR DALER INN LIMITED 10 500 000 10,99 % Comp. NOR EXPROCO LIMITED 10 500 000 10,99 % Comp. NOR TRETHOM AS 4 191 111 4,39 % Comp. NOR • management and board invested in Scanship GOLDMAN SACHS INTERNATIONAL 2 408 246 2,52 % Nom. GBR CITIBANK, N.A. 1 732 156 1,81 % Nom. USA FONDSAVANSE AS 1 562 500 1,64 % Comp. NOR • management with CEO, COO and CDO holds total BERGEN KOMMUNALE PENSJONSKASSE 1 500 000 1,57 % Comp. NOR VICAMA AS 1 250 000 1,31 % Comp. NOR 31.500.000 shares DZ PRIVATBANK S.A. 1 150 000 1,20 % Nom. LUX MP PENSJON PK 1 028 225 1,08 % Comp. NOR TRAPESA AS 882 306 0,79 % Comp. NOR • chairman and board member holds total THOM EIGEL INGVAR 814 111 0,85 % Priv. NOR BIRKELAND ODD KNUT 500 000 0,52 % Priv. NOR 31.500.000 shares SKANDINAVISKA ENSKILDA BANKEN AB 500 000 0,52 % Nom. FIN TOR H BJØRNSTAD AS 457 706 0,48 % Comp. NOR PUNTE HOLDING AS 450 000 0,47 % Comp. NOR MORGAN STANLEY & CO. INT. PLC. 392 861 0,41 % Nom. GBR INVESTMENT DU NORD AS 382 000 0,40 % Comp. NOR OTHERS 13 200 367 13,82 % TOTAL NUMBERS OF SHARES 95 505 525 100 % 15
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