akva group - aventri...akva group in brief leading technology and service partner listed on oslo...

AKVA group

October 4th 2018

Hallvard Muri, CEO

Technology for sustainable biology

Agenda

Company overview

Financials

Market drivers and focus areas

Outlook Iceland

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. 1450 employees


Complete solutions

Cage Based Technology Land Based Technology Software


Cage Based Technology

Plastic Cages

Steel Cages

Feed Barges

Feed Systems

Mooring Systems

Nets

Camera Systems

Underwater Lights

ROV Net Cleaner

Environmental Sensors

Mort Collector

Work Boats

AKVAconnectControl Software


Salmon farm in Norway


Salmon farm in Chile


Land Based Technology

Fish Tanks

RAS (Recirculation Aquaculture Systems)

Central Feed System

Biofilter Oxygen Cones

Nitrogen De-Gasser

Particle Filter


Bakkafrost Strond, Faroe Island


Sisomar Hall G, Norway


Bedre bilder?

Tytlandsvik Aqua, Norway


Marine Harvest, Nordheim Norway


Midt-Norsk Havbruk, Norway


Software

Fishtalk

AKVAconnect

Support


Order intake 2017AKVA group’s geographical regions

Where do we deliver?

45%(57 %)

21 %(24 %)

15 %(9 %)

19 %(10 %)

Nordic CBT&SW Nordic LBT EME Americas

Nordic

Americas

Export

AKVA group

Agents / Distributors


Agenda

Company overview

Financials


Outlook Iceland


EBITDA (MNOK) Order intake (MNOK)

Revenues, Order intake and EBITDA

Revenues (MNOK)

AKVA group AKVA group

149 160 195 181 206

194 205258

170337

575

881972 1 251

1 545

0

200

400

600

800

1 000

1 200

1 400

1 600

1 800

2 000

2 200

919

2013 20152014

1 425

2016 2017

1 246

1 603

2 088

+23%

AKVA group

149 216 190 182382163

256 215 197

472821

7591 165

1 573

1 617

0

500

1 000

1 500

2 000

2 500

2013 2014

1 132

2015 2016 2017

1 231

1 570

1 952

2 471

+22%

12 20 16 1815

30 2635

76

85 147

196

0

20

40

60

80

100

120

140

160

180

200

220

240

2015

8 3

20142013 2016*

6

135

2017*

47

103

169

240

+50%

Nordic Americas EMEAmericasNordic EME Nordic EMEAmericas*Excluding one off in 2016

AKVA group


51,6 %(54,5%)

17,7 %(19,4%)

22,3 %(17,2%)

0,1 %(0,1%) 8,3 %

(8,8%)

Cage Based Tech S&AS Cage Based Land Based Tech

S&AS Land Based Software

Revenue by product group and species

84,6 %(81,7%)

9,7 %(9,9%)

5,7 %(8,4 %)

Salmon Non seafood Other species

By product groups – Q4 2017 By species – Q4 2017


Agenda

Company overview

Financials


Outlook Iceland


Driving forces – salmon industry

SHORELINE

Challenge of nearshore farming

• SALMON LICE

• CONCENTRATION OF STAKEHOLDER INTEREST

• WATER QUALITY

• AVAILABLE SPACE FOR EXPANSION

• ENVIRONMENTAL IMPACTS OF CONCENTRATED

ACTIVITIES

EXPOSED SITES FARMING

LAND BASEDFARMING

OCEANFARMING


Underwater feeding

Fish health operations

Daily operations (dead fish removal, surveillance, cleaning, etc)

Risk management

Air to the salmonArtificial air space

Submerge and raise the cage – safe and remote


Paradigm shift in the salmon industry

0 – 100 g

0 – 100 g

The “traditional” production cycle:

The “post smolt” production cycle:

0 – 5000 g

The “integrated” production cycle:

CLOSED CONTAINMENT LAND BASED

OPEN CONTAINMENTCAGE BASED

A

B

C

100 – 1000 g

Open pen cage at sea 100 – 5000g

Open pen cage at sea 1000 – 5000g


The industry is pursuing big smolt

Less exposure to environmental factors such as

storms and parasites

Faster production cyclesMore robust smolt

Potential larger production in sea Potential for better capacity utilization within the

maximum allowed biomass

Potential for reduced production cost (e.g. lower

treatment costs)


Land based is cost-effective for production of big smolt

Smolt 80 g

Smolt 419 g

2009/2010

2014/2015

5,63 kr/stk 68,66 kr/kg

419 g19,95 kr/stk47,61 kr/kg

413 g49,04 kr/kg

Source: Hiddenfjord , Faroe Islands


High land based activity in all salmon markets


Significant investment in land based expected

Global full-cycle salmon production perspective Big smolt in Norway


Agenda

Company overview

Financials


Outlook Iceland


Salmon production on Iceland is forecasted to reach close to 50,000 tonnesin 2020

0

10

20

30

40

50

60

70

80

90

100

110

2015 2019E2016 20252018E2017 2020E

Source: Pareto Securities

Production (‘000 tonnes)

Licenses applied


Ambitious growth plans seems more likely than ever

Few players that can collaborate to “get it right”

Farming experience and involvement of Norwegian players

Favorable natural conditions, quite similar to Finnmark (low

temperature strategy needed)

Strong Islandic economy and sufficient political support

Granting new licenses has taken time in the past

Far from end-markets and immature logistic chains

Financing capacity

Strengths Challenges

https://www.google.no/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=2ahUKEwjkrO7P-uXdAhUBqiwKHSJQBYUQjRx6BAgBEAU&url=https://commons.wikimedia.org/wiki/File:Flag-map_of_Iceland.svg&psig=AOvVaw0KvGVIKoVGIzSzZ-AA0lCU&ust=1538507878441314


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

Local presence Complete farming solutions and service offerings

akva group - aventri...akva group in brief leading technology and service partner listed on oslo...

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