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    GOD   NO0004913609

GOODTECH ASA

(GOD)
  Report
Real-time Oslo Bors  -  06:34:14 2023-02-07 am EST
8.300 NOK   -0.84%
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Goodtech : Presentasjon Q4

02/25/2022 | 03:42am EST

Q4 2021 Presentation

Goodtech ASA

Margrethe Hauge

CEO

Øyvind Osjord

CFO

1

-1.4 MNOK

Q4 EBITDA

2

196 MNOK

Order intake

3

Strategic

asset sale

4

New branding and

visual look coming

5

Management team ready to

drive strategic repositioning

EBITDA impacted by the ongoing investments and one-offs (extraordinary provisions for losses on accounts receivables, restructuring and reorganization costs and advisory costs Avanti Engineering)

Experiencing increasing demand within our core business, supported by strong order intake

Strengthened strategic focus on automation, digitalization and robotics, sold panel board workshop to Bergen Elektrokompetanse AS

Growth strategy supported by new company profile and marketing strategy

Group management strengthened

  • New CFO started 06.12.2021
  • After sales director starts 01.04.2022

Segment update

Digitalization

Automation

Robotization

Environmental systems

Significant investment in digitalization experienced. Innovation labs in Karlstad and Oslo established. Cyber security personnel hired

Satisfactory enquiry level in the market, but delay in capital investments. Several pilot projects. Expecting growth in order reserve

Expanding organization - recruitment strategy. Healthy underlying performance

Expecting growth in order reserve. Restructuring and expanding organization with project mgmt. expertise. Handover of largest water treatment plan in Norway

Major contract wins in the quarter

Goodtech electrifies ferry exchange

Between Drag-Kjøpsvik and Bogenes-Skarberget

Contract size:

20 MNOK

Customer:

Goodtech value-add:

Large footprint reduction

Cost saving

HVDC Expansion project

Collaboration with MSH for Nexans Norway

Contract size:

27 MNOK

Customer:

Goodtech value-add :

Smart factory

Cost saving

Order book development*

Åland

Norway

Sweden

MNOK

Growth: +27,3%

296

280

44

255

244

80

232

224

225

211

35

87

61

185

103

37

84

46

184

113

146

205

143

123

136

120

124

60

52

43

24

25

27

20

17

11

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

2019

2020

2021

  • Backlog projects normally account for ~50% of annual revenues. Engineering services, support functions and other income partly included in backlog
    Avanti Engineering AS acquired in Q3 2021 included from September 2021

Sweden

  • Karlstad especially experienced decreasing order book during Q4, caused by delayed key tendering processes and key customers considering COVID-effects before year-end
  • Major increase in opportunities and submitted tenders after Q4 2021 - expected to impact order book for next quarter

Norway

  • Growing order book in Norway caused by several major contract wins (among which Kystnett and MHS)
  • Increased demand for FEED-studies investigating automation potential and production process robotization
  • Several industrial and processing segments demanding SCADA upgrades and factory automation
  • Customers continue to demand assistance moving data to cloud-based solutions, which comes with increased demand for cyber security services as well

Åland

  • Promising order book for key customers in Sweden
  • Experiencing high demand for services in all segments -biogas, water treatment and water purification

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Goodtech ASA published this content on 25 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 February 2022 08:41:03 UTC.


ę Publicnow 2022
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Financials
Sales 2022 618 M 59,8 M 59,8 M
Net income 2022 4,00 M 0,39 M 0,39 M
Net Debt 2022 20,0 M 1,94 M 1,94 M
P/E ratio 2022 39,9x
Yield 2022 -
Capitalization 226 M 21,8 M 21,8 M
EV / Sales 2022 0,40x
EV / Sales 2023 0,36x
Nbr of Employees -
Free-Float 35,0%
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Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 8,37 NOK
Average target price 11,00 NOK
Spread / Average Target 31,4%
EPS Revisions
Managers and Directors
Margrethe Hauge Chief Executive Officer
ěyvind Osjord Chief Financial Officer
Mimi Kristine Berdal Chairman
Magne Reierson Chief Operating Officer
Karl-Erik Staubo Director
Sector and Competitors