Goodtech : Kvartalspresentasjon Q2

Margrethe Hauge	Øyvind Osjord
CEO	CFO

Webcast

Q2 2022

1	5,1 MNOK
	Q2 2022 EBITDA
2	284 MNOK
	Order backlog
3	Focus on core
business
4	New growth area; Service
& Aftermarket launched
5	Continuing to recruit the
best domain experts in
	the industry

Continued improvement in EBITDA year-on-year.Improvement initiatives both at a group level and at Åland - as well as increased activity in the Norwegian and Swedish regions contribute to the improvement in the quarter

Increasing demand in our core segments - supported by still strong order intake in the core segments of the group. Important project contracts secured with Wacker Chemicals and Nexans in the quarter

Goodtech continues to deliver on its strategic roadmap. In the quarter, the group agreed to sell its subsidiary Goodtech Solutions Manufacturing AB to BE Group AB - a transaction in line with Goodtech's strategic focus on automation, robotisation and digitalisation

New Chief Service Officer starter in the quarter - increased focus on service contracts, operations support, and after sales in our upcoming projects

Injury statistics and sickness absence trending down Recruitment continues within the groups core segments.

Increased focus on resource allocation, competence and collaboration across the group through hire of new Head of HR

Key figures Q2 2022 | Financial development

Revenue | kNOK		Order intake | kNOK		Order backlog | kNOK

284 089

159 410

165 087

Q2			Q2			Q2
2022	2022	2022
EBITDA | kNOK		EBITDA-margin		Book-to-bill (order intake / revenue)

1,0x

5 103	3.2%

Highlights

1. Continued growth in revenues, 15% improvement from Q2 2021
2. Good margins in the order backlog and internal improvement initiativescontributes to a 65% growth in EBITDA against Q2 2021 (+2 MNOK)
3. Solid order backlog, order intake and high tendering activityproves high demand for Goodtech's services also in Q2 2022

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Webcast Q2 2022

Consolidated balance sheet (non-audited)

(NOK 1.000)	Note	Q2 22	Q2 21	2021
Fixed assets		50 053	46 264	47 275
Right of use assets		53 374	52 107	47 404
Intangible assets		164 827	147 967	164 386
Deffered tax asset		39 222	40 499	40 014
Total fixed assets		307 476	286 838	299 078
Inventory		7 046	6 252	9 059
Trade receivables		121 691	119 302	109 773
Other short-term receivables		14 519	6 569	10 481
Cash & cash equivalents		89 517	87 355	88 717
Total current assets		232 774	219 478	218 030
Assets held for sale	3	9 801	0	0
Total assets		550 051	506 316	517 109
Paid-in equity	10	485 547	478 297	482 935
Retained earnings		-220 807	-207 400	-222 717
Non-controlling interests		1 220	2 076	1 522
Total shareholders equity		265 960	272 972	261 741
Non-interest-bearinglong-term debt		3 533	0	2 758
Interest-bearinglong-term debt		5 322	1 748	6 576
Long-term lease liabilities		42 756	41 746	36 898
Total long-term liabilities		51 611	43 494	46 232
Non-interest-bearingshort-term debt		175 283	141 183	151 234
Interest-bearingshort-term debt		38 581	35 570	44 351
Short-term lease liabilities		13 879	13 097	13 552
Total current liabilities		227 742	189 850	209 137
Total liabilities		279 355	233 344	255 369
Liabilities held for sale	3	4 737	0	0
Total equity and liabilities		550 051	506 316	517 109

Total Assets

MNOK

Equity & Liabilities

MNOK

550
143
90	Current assets
Cash and cash equivalents
10	Assets held for sale
	Non current assets

307

Q2 2022

48%
550	Equity ratio
51
	Long term liabilities
228	Short term liabilities
5	Liabilities held for sale
Equity
266
Q2 2022

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Goodtech strengthens its position as a leading supplier of industrial efficiency

Sales activity and order backlog

Development in order backlog | MNOK

The order backlog was at 284,1 MNOK by the end of Q2 2022, compared to 278,4 MNOK at the end of last quarter (+2,0%), and 184,9 MNOK at the end of the same period in 2021 (53,6%). Order intake was 165,1 MNOK in Q2 2022, and is dominated by order intake in Goodtech's core segments within automation, robotisation and digitalisation.

Norway Finland (Åland)

Sweden

295,0

12,6278,4284,1

22,546,7

243,8

Milestones	•	The Swedish market was reluctant to bounce back after COVID19, but in H1 the group's Swedish operations saw an increase in order backlog
	of 371% (34,1 MNOK) compared to Q4 2021. Order intake was driven by new contracts with existing customers, and some new
in Sweden	•	The group established presence in Gothenburg in Q2 to support growth in its Swedish operations

184,9

20,2

80,3

73,8

58,0

Milestones	•	The group's Finish operations saw a net decline in order backlog of 21% in the quarter, although still remaining nominally above Q2 2021
in Åland	•	Some tendering processes from H1 have been postponed and are affecting order intake

23,4

45,6

115,9

102,6

202,1

182,1 179,5

121,0

	• The group won larger contracts with Wacker Chemicals (8 MNOK) and Nexans (15 MNOK) which contributed positively to the order backlog
	in Norway. Both projects are with important partners and represent future-oriented investment projects where Goodtech and the customer
Milestones	works closely together for the solutions of tomorrow
• Goodtech has also entered into several smaller projects with both new and existing customers within automation, robotisation and
in Norway
digitalisation
	• After Q2 2022, Goodtech announced its participation in a new carbon capture project in the waste management industry - where Goodtech
	will work with partners to re-use ash and CO2 from the incineration processes to create functional concrete

Q2	Q3	Q4	Q1	Q2
2021	2021	2021	2022	2022

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