Q4 PRESENTATION 2019 DATA RESPONS – 4 th QUARTER 2019 Kenneth Ragnvaldsen, CEO OSLO, 30 JANUARY 2020
AGENDA Q4 PRESENTATION 2019 1. HIGHLIGHTS 2. FINANCIALS 3. BUSINESS REVIEW > CEO > CFO Kenneth Rune Ragnvaldsen Wahl 4. Q&A
HIGHLIGHTS Q4 PRESENTATION 2019 ALL-TIME HIGH revenue, profit and cash flow Strong GROWTH across business segments, geographical regions and vertical markets GLOBAL MEGATRENDS of digitalisation, connectivity (IoT) and automation continue to fuel the market Increasing portfolio of SUSTAINABILITY -oriented technology projects SOLID FINANCIAL POSITION with 51% equity ratio enabling further growth AKKA Technologies launched a voluntary CASH OFFER AT NOK 48 PER SHARE for all of Data Respons’ outstanding shares
FINANCIAL HIGHLIGHTS FROM Q4 2019 Q4 PRESENTATION 2019 REVENUES EBITA EBITA margin # OF EMPLOYEES 522 64.7 12.4% 1 412 MNOK MNOK % 70 14% 1 600 522 65 # of own employees 12,4% 500 # of subcontractors 60 12% 437 10,9% 1 200 400 50 10% 48 353 8,6% 40 8% 300 800 30 30 6% 200 20 4% 400 100 10 2% 0 0% 0 0 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 17 18 19 17 18 19 17 18 19 14 15 16 17 18 19
Q4 PRESENTATION 2019 GROWTH GROWTH SWEDEN in all countries largest marked in both business areas Denmark 11% Germany Solutions 30% Sweden 42% Germany Denmark 28% Sweden R&D Services 70% Norway Norway 19% INCREASED REVENUE All numbers are full year figures
KEY FIGURES – R&D SERVICES Q4 PRESENTATION 2019 REVENUES EBITA¹ STRONG GROWTH (24% Quarter - 30% 2019) • 388 59.6 (15.4%) driven by solid performance across all portfolio companies and cross-selling synergies MNOK MNOK SOLID PROFITABILITY supported by high • 59.6 400 60 388 utilization and several and business critical, long- term R&D projects 50 48.1 314 300 Increasing level of RECURRING R&D SERVICES • 40 224 Market remains attractive with continued SOLID • 29.2 200 30 DEMAND driven by across industry trends: – Industrial digitalisation (Industry 4.0) 20 – Intelligence of Things (IoT), Connectivity 100 – More data driven and SW oriented products and services 10 – Analytics – Artificial Intelligence (AI) 0 0 Q4 Q4 Q4 Q4 Q4 Q4 17 18 19 17 18 19 ¹ EBITA before corporate costs
KEY FIGURES – SOLUTIONS Q4 PRESENTATION 2019 REVENUES EBITA¹ SOLID GROWTH (8% Quarter - 16% 2019) • 138 19.1 (13.9%) driven by strategic shift towards smarter, connected and high-end solutions MNOK MNOK 200 25 INCREASED PROFITABILITY resulting from a • 20 strategic shift towards high-end solutions and 19.1 150 increased SW content, continued focus on value- 138 130 128 15.7 adding services and cost discipline 15 11.9 100 10 WELL DIVERSIFIED in terms of markets, regions • 50 5 and customers 0 0 Q4 Q4 Q4 Q4 Q4 Q4 17 18 19 17 18 19 ¹ EBITA before corporate costs
KEY FIGURES FULL YEAR Q4 PRESENTATION 2019 REVENUES EBITA 1 867 216.2 (11.6%) MNOK MNOK 2 000 250 1 867 216.2 +18% 200 1 488 1 500 +41% 1 242 142.8 150 1 040 964 1 000 98.6 100 70.7 500 55.2 50 0 0 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019
DIVERSIFIED CUSTOMER PORTFOLIO Q4 PRESENTATION 2019 FINANCE & PUBLIC OTHER 4% 1% MEDTECH CUSTOMER & TECHNOLOGY 6% DRIVEN ORGANISATION SPACE, DEFENCE MOBILITY & SECURITY 37% 10% Building long-term customer relationship STRONG based on strong industry know-how, DIVERSIFICATION across several niche competence and local touch ENERGY & MARITIME industries 11% 18% 25% 39% INDUSTRY & AUTOMATION 13% TELECOM & MEDIA 17% Top 3 customers Top 5 customers Top 10 customers All numbers are 2019 figures
Q4 PRESENTATION 2019 ALL-TIME HIGH ORDER INTAKE Confirming overall Next Gen COMMUNICATION SOLUTION Digitalisation and MACHINE LEARNING in the space, defence and security industry demand and strategic in the German banking sector of NOK 15 million of NOK 38 million positioning R&D - Product development • Business critical • Long-term R&D projects • Strategically important • Domain COMPETENCE & industry • Data driven DEVELOPMENT support 5G INFRASTRUCTURE for IoT applications knowhow Contract in Germany of NOK 225 million Contracts in Sweden of SEK 75 million
Technology innovation enabling CONTINUED IoT GROWTH # of IoT devices AI Security standards (Unlimited) 20.0 data storage Cloud computing Increased Significant Big Data processing power processing power analytics Integration 11.2 to cloud Edge 8.4 Prioritised devices Lower power (layers) consumption 6.4 4.9 Simplified 5G 3.8 standards Significant 100x faster cost reduction 0.9 than 4G Low network latency 2009 2014 2015 2016 2017 2018 2020 Embedded (real time) sensors Source: Gartner Narrow band reducing power consumption
Q4 PRESENTATION 2019 Authentication MQTT Encryption AMQP XMPP Port protection BLE HTTPS Python HTTP AI Z-Wave C++ C RFID WPA2 Analytics IPv6 UI/UX WiFi C# PPSK LPWAN RPL TLS Java ZigBee NFC IoT IoT Platform Software & apps LAN/ Routers & Sensors/ Edge routers Gateways actuators IoT IoT Internet Endpoints Infrastructure Infrastructure Cloud Devices We develop everything from SENSOR LEVEL to the MOBILE APP making us a good partner for your DIGITALISATION
Q4 PRESENTATION 2019 Data Respons case example IMPROVING WINDWILLS WITH SOFTWARE OPTIMISING USE INCREASING INCREASING REDUCING PROFITABILITY LIFETIME BUILDING COST
CARS ARE BECOMING COMPUTERS ON WHEELS Q4 PRESENTATION 2019 AI/Analytics Connectivity In-vehicle User based Remote SW update infotainment insurance SW Digitalisation of the Security system Frameworks Product Development Cycle Testing Autonomous New Telematics driving solutions Embedded Fleet Software Car-as-a-service Condition Management Car sharing monitoring systems Sensors IoT ENTERTAINMENT AUTONOMOUS PLATFORM DRIVE/OPERATING SYSTEM APPS AND SERVICES DATA ANALYTICS
POSITIONED IN THE ATTRACTIVE SEGMENTS Q4 PRESENTATION 2019 Data Respons involved in several projects across all growth segments Connectivity and remote SW update solutions Electric and hybrid drivetrain technology In-vehicle infotainment systems Autonomous driving projects (ADAS) Fleet Management systems New telematics solutions Car-as-a-service projects Car sharing applications Source: Deloitte 2019 Global Automotive Supplier Study | Slide 15
VOLUNTARY CASH OFFER FROM AKKA TECHNOLOGIES Q4 PRESENTATION 2019 At 19 December 2019, AKKA Technologies SE launched a voluntary cash offer at NOK 48 per share for all of Data Respons’ outstanding shares • Offer price of NOK 48 per share settled in cash, which corresponds to an equity value of DAT of NOK 3.7 Billion • The Board of Directors of DAT unanimously recommended the offer. DAT shareholders representing 43% of the shares have given pre-acceptance to the offer, subject to customary conditions • The Offer is subject to customary regulatory approval in Germany and 90% acceptance rate from DAT shareholders. The complete terms and conditions for the Offer, including procedures for how to accept the Offer and detailed information regarding settlement, are set out in the Offer Document published 13 January 2020. • The Offer period is from 13 JANUARY UARY 2020 UNTIL 10 FEBRUAR RUARY Y 2020 at 16:30 CET. The Offeror may extend the offer period.
AGENDA Q4 PRESENTATION 2019 1. HIGHLIGHTS 2. FINANCIALS 3. BUSINESS REVIEW > CEO > CFO Kenneth Rune Ragnvaldsen Wahl 4. Q&A
INCOME STATEMENT Q4 PRESENTATION 2019 NOK MILLION Q4 19 Q4 18 % 2019 2018 % Revenues 521.6 436.7 19 % 1 866.5 1 488.0 25 % Cost of goods sold 214.9 190.0 835.5 699.6 Payroll expenses 1 198.5 161.6 683.4 544.4 Other operating expenses 2 3 33.2 35.9 93.0 96.6 Depreciation 4 10.2 1.5 38.4 4.7 64.7 47.8 35 % 216.2 142.8 51 % EBITA EBITA % 12.4% 10.9% 11.6% 9.6% 8.3 5.5 27.3 18.6 Amortisation and impairment of intangible assets Operating profit (EBIT) 56.4 42.3 34 % 188.9 124.2 52 % (5.1) (26.1) 6.9 (29.1) Net financial items Profit before income tax 51.3 16.2 195.8 95.1 Income tax expense 17.8 15.7 49.6 35.3 Profit for the period 33.5 0.4 146.1 59.7 Basic earnings per share (NOK) 0.39 (0.03) 2.02 0.98 1. Social security tax accrual related to the company`s employee share option scheme of NOK 5.5 million was booked in Q4 2019 2. A provision for bad debt of NOK 8 million on a trade receivable from 2017 was recognised in Q4 2019 3. Transaction costs of NOK 7.1 million are expensed in 2019, of which NOK 1.2 million in Q4 2019 4. The increase in depreciation of NOK 8.8 million in Q4 (and NOK 32.5 million in 2019) is mainly related to the implementation of IFRS 16 in 2019.
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