EQVA ASA A part of Eqva
Company Presentation
March 2024
A part of Eqva ASA
A part of Eqva
A fast-growing solution and service company and a trustworthy maintenance and modification (M&M) partner
Our values
- Always safe at work
- Knowledge and Cooperation/Partner oriented
- Our attitude is setting new standards and solving new challenges for our clients
- We are relevant
A part of Eqva
Company Highlights
Strong growth - High demand for our diversified services
- Leading full-service supplier for technical installations for maritime, offshore and landbased industries
- Substantial demand for the company's services in recent years, capitalizing on key macro trends
- Strategic location in between the industry hubs in Bergen and Stavanger, close to main vessel routes
- Ambition to continue deliver strong growth by focusing on high quality deliveries, setting new standards and solving complex challenges for our clients
Annual sales revenue (NOKm)
CAGR +27% | 620 |
385
289268314
187
2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
A part of Eqva
Key contract characteristics:
1-3 | 1 week- | 5-15% |
EBITDA | ||
years | 18 months | |
margin | ||
Timespan of service | Effective backlog from | Target EBITDA margin |
and maintenance | maintenance and | depending on type of |
contracts | service projects | project |
Wide range of services to industrial markets, such as:
Landbased industry | Offshore / subsea | Aquaculture |
| 4
BKS' business platform
A part of Eqva
Strong foundation for further value creation
Our skilled employees
Over 350 employees, where around 75 percent of the workforce has at least one certificate and many have extensive offshore experience. Highly qualified employees supply engineering services in terms of projecting, calculations and constructions.
Attractive locations
BKS has its main office at Sunde in the municipality of Kvinnherad, with branch offices in Bergen, Stavanger, Odda, Austevoll and Fosen. BKS also has production facilities at Sunde in Kvinnherad and in Bergen.
Preferred and competitive supplier to its customers
BKS has a goal to be a preferred and competitive supplier and partner to the maritime, offshore and landbased industry in Norway. BKS is recognized for taking on a wide range of tasks, from simple missions to more complex total deliveries.
| 5
Record-breaking NOK >200m project for Boliden
A part of Eqva
- BKS was in 2023 awarded a NOK160m framework contract for refabrication and installation at Boliden's advanced zinc plant in Odda, Norway.
- Expanded scope brings the project to over NOK 200m, record-breaking for BKS.
- For Eqva and BKS, the contract joins the series of assignments aimed at making Norwegian power- intensive industry and shipping more climate-friendly.
- The demand for such expertise is growing, and it is expected that such climate and environmental projects will form an even larger part of the business in the years to come.
One of the world's most climate-effective zinc plants to become even more
climate-friendly, Odda
| 6
BKS on framework agreement with OneSubsea for construction to Ormen Lange field
Shell to increase production from the Ormen Lange field. Increased value of production NOK 80 bn.
120 km from shore, 900 m depth, water temperature below freezing point, operated from land base.
Ormen Lange is the second largest gas field on the Norwegian Continental Shelf. At plateau production it produces 25% of
UK's gas consumption.
Norwegian based (new) subsea technology (OneSubsea) is to increase production from 75% to 85% of the reserves.
BKS is working as a sub supplier to OneSubsea constructing a 430-ton subsea compressor.
Ormen Lange Subsea Development
Foto: Roar Strøm
| 7
Strong macro tailwinds
Key macro drivers
A part of Eqva
Digitalization | Sustainability, clean energy | Energy conversion | ||
and decarbonization | ||||
| 8
Strong foundation for further value creation
New regulation is driving a paradigm shift in the maritime and landbased industry sectors towards low emission solutions
A part of Eqva
Digitalization
The Norwegian government and EU green
deal support solutions in maritime and landbased industries (i.e. Enova in Norway) where emission cuts are solved by improving efficiency through digitalization.
Uptake of more advanced technology is expected to increase in the coming years due to government requirements and stakeholder expectations.
Sustainability, clean energy and decarbonization
The Norwegian government aims to facilitate emission-free solutions along the coast.
- reducing emissions from domestic shipping and fishing vessels by half by 2030
Ambitions of IMO's GHG Strategy1:
- 40% reduction of CO2e by 2030, compared to 2008
- Uptake of zero or near-zero GHGe technologies, fuels and/or energy sources to represent at least 5%, striving for 10%, of the energy used by 2030
- GHGe from international shipping to reach net zero by or around 2050
Energy conversion
The cost of energy and climate emissions expected to rise with regulatory measures e.g., carbon tax.
EU's CO2 Emission Trading System (ETS)2
- Achieved 35% reduction of CO2e from power generation and energy-intensive industries between 2005 and 2021
- 2030 target for ETS emissions increased to -62% (previously -43%), compared to 2005
- Expanded to include the maritime sector
Sources: (1) International Maritime Organization, (2) European Commission | | 9 |
Delivers services to a variety of industrial sectors
Long track-record with complex projects customized to customers' needs
A part of Eqva
Power and Automation services | Full-service installation of production line - Kappa Bioscience |
Arctic Offshore Farming (NRS)
Pipesystems - Nesjavellir Geothermal plant, Iceland (2nd. largest) | Enova backed refurbishment - Boliden | Sundegrabben, a BKS product - Boliden |
Illustration of recent projects delivered by BKS | | 10 | |
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Disclaimer
Eqva ASA published this content on 11 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 March 2024 16:05:04 UTC.
