HAV Group ASA (OSL:HAV)

Q3 2024 Hav Group ASA Earnings Call Transcript

Nov 22, 2024 / 07:00 AM GMT

Release Date Price: kr7.02 (-17.41%)

Transcript

Key Points

Positve

HAV Group ASA (FRA:6HH) reported a strong order backlog, with a significant increase in order income, up 118% from the previous year.
The company secured two new battery package contracts for the Norwegian electric systems, marking a breakthrough in the aquaculture live fish carrier market.
HAV Group ASA (FRA:6HH) received a substantial order close to 100 million for energy design, integrated automation system, and bridge systems for a new build field support vessel.
The company is well-positioned in markets focusing on reducing energy consumption and emissions, with strong activity in offshore wind and a recovering oil and gas sector.
HAV Group ASA (FRA:6HH) expects significant growth in revenue for 2025, supported by a robust order backlog and recent contract wins.

Negative

The company reported a negative EBIT of 24.8 million, attributed to project delays at customer shipyards, impacting income and profit.
Revenue and margins were negatively affected by customers postponing their projects, leading to a knock-on effect on HAV Group ASA (FRA:6HH)'s delivery schedules.
The equity ratio decreased significantly from 21.3% at year-end to 6.4% in Q3, falling below the company's loan covenant requirements.
HAV Group ASA (FRA:6HH) experienced a net loss of 19 million for the period, with a margin of minus 21.5%.
The hydrogen-based energy systems segment reported minimal income, with an EBITA of minus 3.1 million, indicating challenges in market predictability.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HAVH.OL - Hav Group ASA
Q3 2024 Hav Group ASA Earnings Call
Nov 22, 2024 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everybody and welcome to how group's third quarter financial results presentation.

The presentation will be given in the same format as previously, we talk about the Q3 highlights, some about the half group in general. I will give a particular business update on each of the segments.

My CEO co Paul Arog will speak about the financials and finally, we sum up with the outlook and we have a Q&A session as normally at the end of the presentation, key developments in the quarter, we have a solid order backlog from especially from Q2 order income of 1.322 million as of 30th of December, Sep September, that was up 118% from last year and that reflects a very strong order intake in the recent quarters.

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