Goodtech : Kvartalspresentasjon Q3

Margrethe Hauge	Øyvind Osjord
CEO	CFO

Webcast

Q3 2022

1 Finances

2 Market

3 Strategy

4 Innovation

5 Our people

Goodtech continues the year-on-yearEBITDA-improvement

Net increase in order intake in Norway, still slow in Sweden and Åland

The strategic repositioning journey continues

Investments in innovation continues

Falling sickness absence, re-certified as Great Place to Work and Continued growth in employee base

Webcast Goodtech ASA Q3 2022

Summary

4,0 MNOK	18,3 MNOK
Q3 2022 EBITDA	YTD Q3 2022 EBITDA

267 MNOK

Order backlog

Continued focus on core business

Increased focus on next generation control systems launched

Continuing to recruit the leading domain experts of our industry - and investing in culture while doing it

Webcast Goodtech ASA Q3 2022

Key financial figures*

Revenue | kNOK

Order backlog | kNOK		Highlights

			+19%
		149 060	161 238	159 410	130 017
	109 645
	Q3	Q4	Q1	Q2		Q3
2021	2021	2022	2022	2022

	+9%		1
295 819	278 412	284 089
243 830	266 897

Q3	Q4	Q1	Q2	Q3
2021	2021	2022	2022	2022

• 19% increase in revenueform the same period in 2021
• Q3 is traditionally a slow period with lower activity in the group than other quarters. At the same time, revenue in Q3 2022 is the highest Q3-revenue since 2018
• Solid order backlogat a higher level than the same period in 2021

EBITDA | kNOK
		+3 900
		9 215	5 103
			4 025
125
	-1 401
Q3	Q4	Q1	Q2	Q3
2021	2021	2022	2022	2022
EBITDA-margin
		5.7%	3.2%	3.1%
0.1%
	-0.9%
			Q3
Q3	Q4	Q1	Q2
2021	2021	2022	2022	2022

Order intake | kNOK													2
								-33%
					201 049
168 547		143 831	165 087
				112 825
			Q3		Q4	Q1		Q2			Q3
2021	2021		2022	2022		2022
	Book-to-bill (order intake / revenue)				3

1,5x

1,3x

0,9x 1,0x 0,9x

Q3	Q4	Q1	Q2	Q3
2021	2021	2022	2022	2022

• 3,9 MNOK improvement in EBITDAcompared to the same period in 2021
• Weaker EBITDA-margins in the quarter compared to H1 2022. The group still delivers its best Q3 EBITDA since 2020, in spite of Q3 2022 being impacted by the 2-daystrategy and innovation gatheringof the whole group in Sweden in September
• The lower order intakeduring the quarter is impacted by higher risk- aversion in tendering activity given the increasingly complex macro environment. Order intake in Åland and Sweden were net negative in the period
• EBITDA-marginimpacted by one-offs in the quarter. Underlying core business continues to deliver margin-improvements through the year
• YTD EBITDA-margins ended around 2020-levels in spite of several one-off effects in 2022

* All figures contain Goodtech Solutions Manufacturing AB up to and including 31.08.2022

3

Webcast Goodtech ASA Q3 2022

Key operational figures*

Number of employees

305

309

314

316

316

Q3	Q4	Q1	Q2	Q3
2021	2021	2022	2022	2022

H1-incidents**

				8,3
					6,0
	2,0	2,2
			0.0
	FY 2018	FY 2019	FY 2020	FY 2021	YTD

Q3 '22

Sickness absence

2.7%	2.5%	2.6%	3.8%	3.0%
FY 2018	FY 2019	FY 2020	FY 2021	YTD
				Q3 '22

Highlights | Employees

1			Goodtech continues to recruit
			talent within its core business
			areas: Robotisation,
			Automation and Digitalisation

Highlights | H1**

2			The injury absence statistics
			(H1) increased during the
			quarter due to an electrical
			procedure causing medical
			absence

Highlights | Sickness absence

3			Lower sickness absencein the
			quarter after a first half of 2022
			impacted by COVID19

Organisation

• The number of employees increased in the period excluding the effects from the sale of Goodtech Solutions Manufacturing AB
• The organisation of the exited Os switchboard workshop is included in all figures up until - and including, January 2022
• The employees of the acquired Avanti Engineering AS are included in the figures form Q3 2021
• A total of 4 incidents with medical absence were recorded in the group in 2021 - all related to the group's international operations
• The group has had one incident in 2022 related to its Norwegian operations

* All figures contain Goodtech Solutions Manufacturing AB up to and including 31.08.2022

** H1 is defined as the number of absence injuries per million hours executed in operation, based on a 12-month rolling basis.

4

Webcast Goodtech ASA Q3 2022

Consolidated balance sheet (non-audited)

Assets

MNOK

Current assets		Asstes held for sale
Cash and cash equivalents		Non-current assets

(NOK 1.000)	Note
Fixed assets
Right of uses assets
Intangible assets
Investments in associated companies
Deferred tax asset
Total fixed assets

Q2 22

1. 347

1. 826

1. 896

1. 248

1. 280

304 599

Q2 21	2021
46 799	47 275
49 395	47 404
165 318	164 386
0	0
41 964	40 014
303 476	299 078

512

149

0 58

Inventory		7 648		10 714	9 059
Trade receivables		130 907	123 767	109 773
Other short-term receivables		10 732	12 824	10 481
Cash and cash equivalents		57 786		55 044	88 717
Total current assets		207 074		202 349	218 030
Assets held for sale		0		0	0
Total assets		511 672	505 825	517 109
Paid-in equity
10	484 536	481 296	482 935
Retained earnings		-223 678	-210 707	-222 717
Non-controlling interest		-162		1 824	1 522
Total shareholders equity		260 697		272 414	261 741
Non-interest-bearinglong-term debt		3 420	0	2 758
Interest-bearinglong-term debt		5 285	1 737	6 576
Long-term lease liabilities		39 480		39 155	36 898
Total long-term liabilities		48 185		40 893	46 232
Non-interest-bearingshort-term debt		157 851	143 200	151 234
Interest-bearingshort-term debt		31 745	35 456	44 351
Short-term lease liabilities		13 193	13 206	13 552
Total current liabilities		202 789		191 862	209 137
Total liabilities		250 975		232 755	255 369
Liabilities held for sale		0		0	0
Total equity and liabilities		511 672		505 169	517 109

Equity & Liabilities

MNOK

305

Q3 2022

Long-term liabilities		Liabilities held for sale
Short-term liabilities		Equity	Equity ratio

51%

512

48

203

0

261

Q3 2022

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