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Bouvet

Investor Presentation • Aug 24, 2018

3563_rns_2018-08-24_f5db291c-2baf-43db-ba6b-9410bcdaae77.pdf

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Interim presentation Secondquarter 2018

Sverre Hurum, CEO

ErikStubø, CFO

24August 2018

Highlights in the quarter

oRevenue and EBIT

  • • Operating revenues increased by 17.6 percent toNOK 453.7 million (y‐o‐y)
  • • EBIT increased by 51.5 percent to NOK 55.7 million(y‐o‐y)
  • o 1 304 employees
  • •Up 44 from Q1'18
  • • Anincrease of 138 in the past 12 months
  • oStrong market

Revenue and number of employees MNOK andnumber

Operational Review

Public andprivate sector

Businesssectors Q2 2018

Sectors with high increase in revenue

oPublic admin

  • • Increasedby 9.4 percent (y‐o‐y)
  • •Represents 26.2 percent of total revenues in Q2'18

o Oil &gas

  • • Increasedby 40.3 percent (y‐o‐y)
  • •Represents 25.1 percent of total revenues in Q2'18

oPower supply

  • • Increasedby 27.0 percent (y‐o‐y)
  • •Represents 10.0 percent of total revenues in Q2'18

oInfo and communication

  • • Increasedby 17.8 percent (y‐o‐y)
  • •Represents 5.6 percent of total revenues in Q2'18

HoloLens app developed for eSmart Systems

  • o Connected drone mission analysis PoC
  • • Part of eSmart's ConnectedDrone Program
  • • Richdata visualisation of AI findings
  • • Workflow for resolving issues and creating work orders
  • o Fully developed in ‐house by Bouvet's HoloLens team

First Norwegian Mixed Reality Partner

Matt Groom

  1. aug. 2018

Just before the Summer, Bouvet became the first Norwegian company to be accepted into the Microsoft Mixed Reality Partner Program.

Today, we're delighted to announce that Bouvet has been accredited as a Microsoft Mixed Reality Partner. The Mixed Reality Partner Program is designed to enable and support partners that are committed to building transformative mixed reality solutions for their clients.

We live in a time where there is an incredible pace of technological change and enterprises everywhere are more focused than ever on digitilisation transformation. The companies that are at the forefront of embracing new technology paradigms, holistically throughout their organization, will be the ones that are competitively positioned for the future. Bouvet is at the leading edge of helping companies do this.

GAMING: Kjell Inge Skjønberg bygger et team av gamere og andre spesialister. (Eirik Helland Urke)

EQUINOR Equinor ansetter gamere til å ferdigstille oljeplattformer

Kan spare store kostnader.

f Facebook

(in)

$y$ Twitter

Hvis du kan utvikle dataspill, åpner det seg nå nye karrieremuligheter i Norges største energiselskap. Vi har besøkt spesialteamet som utforsker helt nye arbeidsmetoder for industrien.

215

Da Equinor (den gang Statoil) bestemte seg for å satse friske milliarder på digitalisering i 2016, ble de ansatte utfordret på hva det skulle innebære.

Kjell Inge Skjønberg ved utviklingskontoret i Trondheim hadde i høyeste grad en digital jobb

Equinors Forskningssenter på Rotvoll i Trondheim, (Foto)

Marianne Slørdahl i Bouvet jobber som QA og testansvarlig i VR/AR-teamet. (Foto: Eirik Helland Urke)

Customer andproject mix

  • o Project mix
  • • Variable contracts account for 97.2 percent of totalrevenues
  • o Customer portfolio
  • • The 10 largest customers represent 37.4 percent of total revenues – up from 34.8 percent in Q2'17
  • • The 20 largest customers represent 49.6 percent of total revenues – up from 47.4 percent in Q2'17

Variably priced contracts share of revenues Percentage

Customerdevelopment

oExisting customers*

  • • Accountedfor 93.5 percent of revenues in Q2'18
  • o New customers**
  • • Customers won over the past year generated revenues of NOK 29.3 millionin Q2'18
*
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Enthusiastic andcompetent employees

  • o 1 304 employees at the end of the quarter
  • •Up 44 from Q1'18
  • • 138more employees in the past 12 months
  • • Average number of employees in the quarter up 11.2percent from Q2'17

Annualgrowth in number of employees

Enthusiastic employees

Hackauno

Regine Sagstad Berg
  1. juni 2018

Camilla, Britt Marie og Catriona var deltakere i ett av to bouvetlag som var påmeldt årets Hackathon under Festspillene i Bergen. Målet var å bygge en tidlig utgave av en digital delingsplattform for det som skjer innen kunst og kultur i Bergen, og laget bouvetjentene stakk til slutt av med prisen for Beste konsept (20.000 kr).

  • Vi lager denne løsningen for at folk skal ha lyst til å bruke ideen vår. Da må vi høre med publikum om dette er noe som er interessant, sa Camilla Knutsen i et intervju med Bergen kommune. Laget hennes hadde vandret rundt på Festplassen i Bergen for å snakke med tilfeldige bergensere om konseptet de hadde kommet opp med.

Hacket seg til toppen i Paranoia Challenge 2018!

Ylva Seiff Berge

  1. aug. 2018

Deltakere fra IT-bedrifter i hele landet konkurrerte om å være Norges beste hacker i Paranoia Challenge 2018. Eivind fra Bouvet kom på tredjeplass i finalen.

  • Det var veldig overraskende for meg å komme så høyt opp på lista. Jeg har alltid vært interessert i cybersikkerhet og hacking og den slags. Men det har alltid vært litt vanskelig å vite hvor man skal begynne. Å komme så høyt opp på første forsøk hadde jeg aldri trodd, sier Eivind Andreas Arvesen som ved en tilfeldighet ble med på Paranoia Challenge 2018.

The Challenge

Paranoia Challenge 2018 er en konkurranse i cybersikkerhet. Der deltakere fra en rekke norske virksomheter, som til daglig jobber med IT eller sikkerhet, møtes til en uhøytidelig kamp som utfordret både kunnskaper og evne til å løse offensive og defensive oppgaver.

Vant pris for masteroppgave om treningsspill

  1. juni 2018

Jonas André Dalseth vant Norsk Regnesentrals pris for beste masteroppgave innen matematikk og IKT delt ut ved NTNU med oppgaven "Fitogotchi - An Exergame Designed to Change People's Everyday Physical Activity Habits".

  • Denne prisen kom helt uventet. Det føles helt fantastisk å få prisen for en oppgave jeg har jobbet så mye med og brent så mye for, det er en kjempeanerkjennelse, sier Jonas André Dalseth i Bouvet.

Treningsspill for gamere

Masteroppgaven «Fitogotchi - An Exergame Designed to Change People's Everyday Physical Activity Habits» gikk ut på å designe et spillkonsept som skulle motivere til fysisk aktivitet hos gamere. Målet var å se på hvordan et spill kan påvirke folks hverdagsaktivitet, og se på hvordan man kan motivere en gruppe mennesker til å bli mer fysisk aktive igjennom et spill.

Financial Review

Key figures

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Revenue

  • o Revenues increased by 17.6 percent y‐o‐y
  • • Revenues from own consultants increased by 18.7 percent to NOK 377.9 million
  • • Revenues from sub‐contracted consultants increased by 10.8percent to NOK 60.0 million
  • • Other revenues increased by 19.9 percent to NOK 15.8 million

Revenue split (quarterly figures) MNOK

Revenues fromown consultants

  • o Increased 18.7 percent y‐o‐y
  • • Positive impact from increase in billing ratio by 0.7 percentage points
  • • Positive impact from 11.2 percent increase in average numberof employees
  • • Positive impact from 3.5 percent increase in prices for group hourly services
  • • 60workdays in Q2'18– two more than Q2'17

Revenue per employee (quarterly figures) TNOK

Revenueper employee (LTM)

TNOK

Analysis of change in revenues y‐o‐y

Change in revenues – effect on EBIT

RevenueMNOK

21

0.0%

5.0%

10.0%

15.0%

Earnings

  • o Operating profit (EBIT) up by 51.5 percent to NOK 55.7million
  • o EBIT margin of 12.3 percent compared to 9.5 percent inQ2'17
  • o Operating expenses increased by 14.1 percent compared to Q2'17
  • oGeneral growth in pay rate 1.7 percent y‐o‐y
  • oOther operating expenses increased 24.0 percent

01020

Q2'13 Q2'14 Q2'15 Q2'16 Q2'17 Q2'18

Cashflow

  • o Cash flow from operations
  • • NOK 31.8 million in Q2'18 compared to NOK 6.2 million in Q2'17
  • o Last 12 months
  • • Operational cash flow over the last 12 months was NOK 173.3million
  • o Cash flow from investing activities
  • • Negative NOK 16.0 million compared to negative NOK 6.5 millionin Q2'17

Cash

MNOK

flow

from

operations (LTM)

Outlook

  • oHigh demand
  • o Increased demand for platform, IoT and cloudcompetence
  • o Increased use of virtual reality, augmented reality and mixed reality
  • o Too low delivery capacity in the IT consultancy sector

Shareholders asof 24.08.2018

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