AKVA group. October 4 th 2018 Hallvard Muri, CEO

Transcription

1 AKVA group October 4 th 2018 Hallvard Muri, CEO

2 Agenda Company overview Financials Market drivers and focus areas Outlook Iceland

3 Agenda Company overview Financials Market drivers and focus areas Outlook Iceland

4 AKVA group in brief Leading technology and service partner Listed on Oslo stock exchange since 2006 Order Intake of 2,5 BNOK in 2017 Deliveries in 65 countries over 40 years Companies in 11 countries. Approx employees

5 Complete solutions Cage Based Technology Land Based Technology Software

6 Cage Based Technology Steel Cages AKVAconnect Control Software Plastic Cages Underwater Lights Camera Systems Feed Systems Feed Barges Nets ROV Net Cleaner Environmental Sensors Mooring Systems Work Boats Mort Collector

7 Salmon farm in Norway

8 Salmon farm in Chile

9 Land Based Technology Nitrogen De-Gasser Fish Tanks Biofilter Oxygen Cones Particle Filter Central Feed System RAS (Recirculation Aquaculture Systems)

10 Bakkafrost Strond, Faroe Island

11 Sisomar Hall G, Norway

12 Bedre bilder? Tytlandsvik Aqua, Norway

13 Marine Harvest, Nordheim Norway

14 Midt-Norsk Havbruk, Norway

15 Software Fishtalk AKVAconnect Support

16 Where do we deliver? AKVA group s geographical regions Order intake % (10 %) 45% (57 %) 15 % (9 %) Nordic Americas Export AKVA group Agents / Distributors 21 % (24 %) Nordic CBT&SW Nordic LBT EME Americas

17 Agenda Company overview Financials Market drivers and focus areas Outlook Iceland

18 Revenues, Order intake and EBITDA AKVA group AKVA group AKVA group Revenues (MNOK) Order intake (MNOK) EBITDA (MNOK) % % % * 2017* Nordic Americas EME Nordic Americas EME Nordic Americas EME *Excluding one off in 2016

19 Revenue by product group and species By product groups Q By species Q ,1 % (0,1%) 8,3 % (8,8%) 22,3 % (17,2%) 51,6 % (54,5%) 5,7 % (8,4 %) 9,7 % (9,9%) 17,7 % (19,4%) 84,6 % (81,7%) Cage Based Tech S&AS Cage Based Land Based Tech S&AS Land Based Software Salmon Non seafood Other species

20 Agenda Company overview Financials Market drivers and focus areas Outlook Iceland

21 Driving forces salmon industry SHORELINE LAND BASED FARMING Challenge of nearshore farming SALMON LICE EXPOSED SITES FARMING OCEAN FARMING CONCENTRATION OF STAKEHOLDER INTEREST WATER QUALITY AVAILABLE SPACE FOR EXPANSION ENVIRONMENTAL IMPACTS OF CONCENTRATED ACTIVITIES

22 Submerge and raise the cage safe and remote Risk management Underwater feeding Fish health operations Daily operations (dead fish removal, surveillance, cleaning, etc) Air to the salmon Artificial air space

23 Paradigm shift in the salmon industry CLOSED CONTAINMENT LAND BASED OPEN CONTAINMENT CAGE BASED A The traditional production cycle: g The post smolt production cycle: Open pen cage at sea g B g g Open pen cage at sea g The integrated production cycle: C g

24 The industry is pursuing big smolt More robust smolt Less exposure to environmental factors such as storms and parasites Faster production cycles Potential for reduced production cost (e.g. lower treatment costs) Potential for better capacity utilization within the maximum allowed biomass Potential larger production in sea

25 Land based is cost-effective for production of big smolt 2009/2010 Smolt 80 g 5,63 kr/stk 68,66 kr/kg 413 g 49,04 kr/kg 2014/2015 Smolt 419 g 419 g 19,95 kr/stk 47,61 kr/kg Source: Hiddenfjord, Faroe Islands

26 High land based activity in all salmon markets

27 Significant investment in land based expected Global full-cycle salmon production perspective Big smolt in Norway

28 Agenda Company overview Financials Market drivers and focus areas Outlook Iceland

29 Salmon production on Iceland is forecasted to reach close to 50,000 tonnes in 2020 Production ( 000 tonnes) E 2019E 2020E 2025 Licenses applied Source: Pareto Securities

30 Ambitious growth plans seems more likely than ever Strong Islandic economy and sufficient political support Favorable natural conditions, quite similar to Finnmark (low temperature strategy needed) Farming experience and involvement of Norwegian players Granting new licenses has taken time in the past Far from end-markets and immature logistic chains Financing capacity Few players that can collaborate to get it right Strengths Challenges

31 AKVA group is dedicated to play a vital role on Iceland Deliveries of complete facilities for flow through and RAS land based farming Proven solutions for arctic and harsh conditions Complete farming solutions and service offerings Local presence

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