Capital Markets Day 2007 Kongsberg Maritime 25 September 20O7

Transcription

1 Capital Markets Day 27 Kongsberg Maritime 25 September 2O7 WORLD CLASS through people, technology and dedication 1 Kongsberg Maritime Offshore & Merchant Marine Offshore & Merchant Marine Introduction to Kongsberg Maritime Products and Markets Financial Presentation Integrated Operations Centre KONGSBERG, 26 August

2 Kongsberg Maritime Offshore & Merchant Marine Focusing on core technologies, building strong application knowledge, sales and global support Dyn. Pos & Positioning Automation & Controls Hydroacoustics Simulation Navigation 3 KONGSBERG, 26 August 23 Growth in oil and gas demand Oil demand by region 22-23E MBoe/d Gas demand by region 22-23E Global oil & gas demand by region 22-23E Other Brazil India Indonesia China Africa Other LA Other Asia OECD Pacific ME Russia OECD Europe OECD NA 1 8 MBoe/d Global oil & gas demand by region 22-23E Other Brazil India Indonesia China Africa Other LA x Other Asia OECD Pacific ME Russia OECD Europe OECD NA Share of oil and gas production 8 38% % 41% 4% NA and OECD Europe represented 48% of total demand in 22, declining to 42% in 22 China, India and Africa with expected CAGR of 3-4% from 22 to 22 and representing 17% of total demand in 22 Source: IEA, Cardo Partners analysis KONGSBERG, 26 August NA and OECD Europe represented 48% of total demand in 22, declining to 42% in 22 China, India and Brazil with expected CAGR of 6% from 22 to 22, but representing only 5.4% of total demand in

3 Offshore Oil & Gas: The value chain Exploration Field Development Operations Transportation Simulation/Engineering KONGSBERG, 26 August 23 5 Merchant Marine: Key trade figures KONGSBERG, 26 August

4 Offshore & Merchant Marine Description of business segment Segments and sub-segments Offshore & Merchant Marine Exploration Offshore Field development Offshore Production Supply & Support Tank Merchant Marine Dry cargo 59 % 9% 32 % - Merchant Marine Passenger vessels 7 KONGSBERG, 26 August 23 Offshore & Merchant Marine Main product lines Dynamic Positioning Systems Navigation Systems Monitoring and Control Systems Process Automation Hydroacoustics KONGSBERG, 26 August

5 Offshore & Merchant Marine Main product lines and markets - some examples KONGSBERG, 26 August 23 9 Dynamic Positioning WORLD CLASS through people, technology and dedication Dynamic positioning systems automatically manoeuvre and maintain vessels in constant positions relative to each other, making it possible to perform complex operations regardless of wind, waves and ocean currents. 1 5

6 Process Automation KONGSBERG, 26 August Process Automation - Floating Production Dynamic Process Simulation Process Control Safety Systems Navigation & Reference Systems Power Management Cargo Management Marine Control Positioning Systems Subsea Control Riser Management KONGSBERG, 26 August

7 Intelligent Oil Field Decision Environment Onshore Offshore Onshore Drilling Centre Fibre cable (or satellite link or high capacity radio link) Onshore Production Centre 1 Mbit 34 Mbit radio link Main Field Complex / Process Centre 15 Mbit radio link Contractor Support Centre Production Control Centre Drilling rig(s) Production platforms Connecting multiple rigs/platforms, onshore operations and expert sites KONGSBERG, 26 August Subsea - Hydroacoustics Application: Fishery/ Research AUV Hydrography UW Nav. Naval Sonars Products: KONGSBERG, 26 August

8 Subsea Autonomous underwater vehicles; the HUGIN (AUV) product line Underwater navigation (Hi PAP) Underwater cameras Hydrographical survey instrumentation Acoustic instruments for all types of seabed surveys Naval sonar for submarine and mine identification By transmitting sonar (sound) signals underwater and measuring the strength and direction of the echo, the submersible craft can chart the seabed. KONGSBERG, 26 August Monitoring & Control Cargo Management WORLD CLASS through people, technology and dedication 16 8

9 Monitoring & Control Machinery & Propulsion WORLD CLASS through people, technology and dedication 17 Building a Global Operation Globalisation of project execution and value chain Expanding and strengthening market presence - sales and support Building resource hubs Nova Scotia (Canada) Norway British Columbia (Canada) Washington (USA) Connecticut (USA) Texas (USA) Scotland England Spain Italy Germany The Netherlands South Korea China Louisiana (USA) Nigeria UAE India Singapore Brazil New York (USA) KONGSBERG, 26 August

10 Asia KONGSBERG continues to grow Escalating in India Over the past year, KONGSBERG has signed numerous contracts with Indian customers The contracts are generally related to India's offshore activities KONGSBERG is currently expanding in India to cover local demand and to serve as a resource-base for the rest of the Group KONGSBERG in Asia KONGSBERG currently has approx. 3 employees in the Far East China, South Korea, Singapore, India Our capacity is on the increase in terms of both number of employees and space Why Asia? The bulk of the world's shipyard industry is located in Asia Important to operate as a local contractor Local added value enhances profitability and competitiveness for KONGSBERG KONGSBERG, 26 August We are building a strong corporate culture and aspire to be recognised for our conduct Dependable We believe in maintaining high quality in all aspects of our conduct and we will strive to produce reliable solutions consistently Innovative We are always on the look out for new opportunities to increase the value added for our customers Determined We aspire to be recognised for our drive and persistence; we will quite simply not give up! Network-friendly We believe in sharing knowledge generously, and we set up and develop useful networks KONGSBERG, 26 August

11 Kongsberg Maritime Offshore & Merchant Marine Financials KONGSBERG, 26 August Kongsberg Maritime Operating revenues EBITA YTD Q2 6 YTD Q YTD Q2 6 YTD Q2 7 KONGSBERG, 26 August

12 The market Q2 27 Continued buoyant activity Booked sales orders valued at more than NOK 2 billion in Q2 Especially strong influx of new orders for offshore support vessels and hydroacoustic products Contract with Indian shipyard for the delivery of advanced subsea systems valued at approx. MNOK 35 Merchant Marine market remains at a stable high level Declining USD exchange rate may present a challenge in the long term Relatively well-hedged for 27 and 28 KONGSBERG, 26 August New orders and breakdown of order backlog New orders Breakdown of order backlog YTD Q2 6 YTD Q Q Backlog Distribution KONGSBERG, 26 August

13 Merchant shipbuilding Order backlog WORLD Merchant Shipbuilding Delivered 26 / Forecast 27 / Ships on Order Delivery ( ) WORLD Merchant Shipbuilding Ships on Order Delivery ( ) s hi p s 15 sh ip s EUROPE JAPAN KOREA CHINA ASIA-Other AMERICA PAX Ro-Ro BULK CONT TK Gas TK Chm TK Oil TK < 1K "free" PAX Ro-Ro BULK CONT TK Gas TK Chm TK Oil TK < 1K Source: Lloyds Fairplay 25 Offshore shipbuilding Order backlog WORLD Offshore Shipbuilding Delivered 26 / Forecast 27 / On order WORLD Offshore Shipbuilding Vessels on Order Delivery V e s s e ls Ve s s e ls EUROPE JAPAN KOREA CHINA ASIA-other AMERICA FPSO (new) FPSO (conv) Drill (float) Drill (Jack-up) Other Heavy AHTS OSV/PSV Support FPSO (new) FPSO (conv) Drill (float) Drill (Jack-up) Other Heavy AHTS OSV/PSV Support Source: Lloyds Fairplay 26 13

14 WORLD CLASS through people, technology and dedication 27 14