goodtech.no

Industry reinvented

Highlights from Q2 2024 | Goodtech ASA

Summary

Revenues and order backlog:

10% decrease in revenues from Q2 2023
41% growth in order backlog from Q2 2023

Profitability:

1,1 MNOK (+14%) nominal increase in EBITDA and 27% improvement in EBITDA-margins from Q2 2023

Safety:

H1-value remaining at 0 in Q2 2024
Sickness absence down at 2,8% in Q2 2024

Capital structure:

50% equity ratio and 104 MNOK cash and cash equivalents in the quarter
Implemented Global Cash Pool in the quarter

New Board of Directors elected in the quarter Events after the reporting period: - Sale of property, plant and equipment on Åland

Strategic re-posisioning showing good results

Webcast Goodtech ASA – Q2 2024 Important new contracts in Q2 2024

Webcast Goodtech ASA – Q2 2024 Sales and order backlog

Q2 2023

Q3 2023

Q4 2023

Q1 2024

Q2 2024

Development in order backlog | Continuing operations

• 18 MNOK decrease in order backlog from Q2 2023 to Q2 2024 due to several projects in final phase

• Several promising sales prospects in Sweden

243 304 216 276 386 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024
59% increase in order backlog (143 MNOK) from Q2 2023 to Q2 2024
Larger contracts won: Wacker Holla (high double digit MNOK), Equinor på Empire Wind 1 (50 MNOK) og Moelven Industrier (10-20 MNOK)

Webcast Goodtech ASA – Q2 2024 Larger ongoing contracts in Q2 2024

Selection of other customer projects with activity in the quarter

Webcast Goodtech ASA – Q2 2024 Key financials

Revenues | MNOK

EBITDA | MNOK

EBITDA-margin

Comments

10% decrease in revenues from Q2 2023:

1. Q2 2023 impacted by high procurement share and associated COGS in Aker Solutions and REEtec
1. Several larger projects started in the quarter with expected procurement and COGS impact

1,1 MNOK (+14%) nominal increase in EBITDA from Q2 2023

Continued focus on margin-enhancing initiatives

EBITDA-margins increased from 3,8% in Q2 2023 to 4,8% in Q2 2024

Webcast Goodtech ASA – Q2 2024 Robust capital structure

Webcast Goodtech ASA – Q2 2024 Strategic re-positioning | Q4 2020 – Q2 2024

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Goodtech has been through a large strategic re-positioning the past years… …at the same time, employee satisfaction has increased…