Logo Yazilim Sanayi Ve Ticaret A.s. · BIST:LOGO

Logo Yazilim Sanayi Ve Ticaret A.s — Logo Yazılım Sanayi ve Ticaret A.Ş. — Q1 2021 Earnings Presentation

21 slides from Logo Yazilim Sanayi Ve Ticaret A.s's earnings presentation, May 7, 2021

  1. Slide 1: Chief Financial Officer, May 7th, 2021

    Chief Financial Officer May 7th, 2021

  2. Slide 2: Forward-looking statements disclaimer

    This presentation contains information and analysis on financial statements as well as forward-looking statements that reflect Logo management’s current views with respect to certain future events. Although it is believed that the information and analysis are correct and expectations reflected in th

  3. Slide 3: Q1 2021 highlights

    ▪ Started the year with a continued strong performance ▪ Recurring revenue grew in all categories reaching 65% of invoiced sales ▪ Turkey; ▪ Revenues increased by 44% with healthy new customer acquisition, increased spending from existing customers and strong growth in e-government coin sales ▪ Micr

  4. Slide 4: Employees

    + + + + 1,233 44% 45% 79 35 Employees Women Women in Employee Average age employees executive engagement of employees management index score (TR) + + + 78% 24% 50% 9,22/10 100% of employees R&D spending/ of Board is Corporate of e-waste works in invoiced independent Governance recycled in TR softwar

  5. Slide 5: Revenues, EBITDA, Net Income

    Revenues (TL mn) EBITDA (TL mn) Net Income (TL mn) 37% 51% 40% 164% 39% 139 55 36% 55 102 36 20% 21 Q120 Q121 Q120 Q121 Q120 Q121 • Revenues grew by 37% reaching 139 TL mn, with Turkey and Romania operations contributing 65% and 35% respectively. • EBITDA increased by 51%, yielding 40% margin. • Net

  6. Slide 6: Free cash flow, current ratio, EPS growth

    Current Ratio Strong FCF – LTM (TL mn) 286% 1,53 81 1,34 21 2020 Q121 Q120 Q121 EPS* growth 61% 6,2 3,8 Q120 Q121 *Adjusted by 3.48% treasury shares

  7. Slide 7: Logo Turkey revenues, EBITDA, net income

    Logo Turkey-Revenues (TL mn) Logo Turkey-EBITDA (TL mn) Logo Turkey-Net Income (TL mn) 44% 59% 154% 49% 49% 91 45% 45 44 63 28% 28 18 Q120 Q121 Q120 Q121 Q120 Q121 • Revenues increased by 44% with healthy new customer acquisitions, increased spending from existing customers, and strong growth in e-s

  8. Slide 8: Market leader in e-government solutions

    Market leader in e-government solutions; e-invoice, e-archive, e-ledger, e-dispatch with 62K customers # of customers ('000) eLogo invoiced revenues (TL mn) CAGR: 53% 62% CAGR: 49% 62 24 56 32 38 37 14 18 134 10 10 18 11 70 21 28 38 2016 2017 2018 2019 2020 Q120 Q121 2016 2017 2018 2019 2020 coin us

  9. Slide 9: Logo CaptainBiz user growth

    ✓ 670% growth y/y Logo CaptainBiz Logo CaptainBiz is GSTN is a mobile approved solution ✓ Only 8 solutions are Only 4 solutions are high service quality approved by the Goods mobile among the 8- and Services Tax GSTN-approved Network (GSTN) of India solutions ✓ easy upgradability ✓ Value creation on

  10. Slide 10: Peoplise customer growth

    ✓ Revenue and customer growth remained strong in Q121 ✓ Reached 120+ customers, ranking #1 in Turkey ✓ The new version of fully digital applicant tracking system was launched successfully in Q121 improving talent analytics and customer experience ✓ AI based chatbot supported 100% Digital assessment

  11. Slide 11: Total Soft revenues, gross profit, EBITDA, net income

    Total Soft–Revenues (TL mn) Total Soft–Gross profit (TL mn) Total Soft–EBITDA (TL mn) 25% 21% 25% 48% 50% 21% 48 23 22% 38 19 10 8 Q120 Q121 Q120 Q121 Q120 Q121 Total Soft-Net Income (TL mn) • Revenues grew by 25% y/y and revenue growth in Euros was -5% 221% y/y 21% • Gross profit is up by 21% yield

  12. Slide 12: First quarter invoices and IFRS revenues

    First Quarter Invoices & IFRS Revenues (TL mn) IFRS Revenues= 139144 Invoices - Net Deferrals Invoices 102108 • Q1 sales invoice growth was 33% y/y 81 76 67 66 54 53 • IFRS Revenue growth was 37%y/y in Q1 36 30 26 24 Q115 Q116 Q117 Q118 Q119 Q120 Q121 Invoiced Revenues (TL mn) CAGR: 32% • In Turkey,

  13. Slide 13: Consolidated recurring invoices

    Consolidated Recurring Invoices (TL mn) CAGR: 40% • LEM revenues increased by 19% y/y 384 • Pay as you go revenues increased by 63% y/y with strong coin sales. 257 181 44% • Maintenance revenues increased by 34% y/y 135 with significant contribution from Total Soft 73 84 94 65 • SaaS revenues increa

  14. Slide 14: Invoice revenues, one-time and recurring

    2016 2017 2018 2019 2020 4-yr-CAGR Invoice revenues (TL mn) 175,8 259,1 333,0 460,1 617,7 37% One-time 91,6 123,6 152,5 203,0 233,5 26% share in total 52% 48% 46% 44% 38% Recurring 84,1 135,5 180,5 257,2 384,2 46% share in total 48% 52% 54% 56% 62% Recurring invoice revenues (TL mn) LEM 46,2 61,4 75

  15. Slide 15: Cost of sales as % of IFRS revenue

    Consolidated (TL mn) – As % of IFRS Revenue Total Soft (TL mn) – As % of IFRS Revenue 20% 20% 50% 52% 139 48 102 38 36% 30% 25 19 20 28 Q120 Q121 Q120 Q121 Revenue Cost of Sales Revenue Cost of Sales

  16. Slide 16: OpEx, R&D, S&M and G&A expenses

    OpEx (TL mn) – As % of IFRS Revenue R&D Expenses (TL mn) – As % of IFRS Revenue 58% 53% 26% 25% 139 139 102 102 74 59 25% 29% 35 27 Q120 Q121 Q120 Q121 Total Revenue Total Opex Total Revenue R&D Expense S&M (TL mn) – As % of IFRS Revenue G&A (TL mn) – As % of IFRS Revenue 17% 14% 15% 15% 139 139 102

  17. Slide 17: R&D spending as % of invoices

    R&D Spending (TL mn) – As % of Invoices 33% 31% 35% 200 30% 30% 30% 27% 27% 30% 24% 25% 150 146 20% 100 123 15% 99 38% 77 10% 50 57 41 45 5% 33 0 0% 2015 2016 2017 2018 2019 2020 Q120 Q121 R&D Spending (TLmn) - LHS R&D Spending/Invoices -RHS

  18. Slide 18: Balance sheet highlights and working capital

    Balance Sheet Highlights (TL mn) Working Capital (TL mn) 2020 1Q21 ∆ Cash & Cash Eq. 293,7 319,1 9% 50% 330 44% 300 Trade Receivables 235,7 203,0 -14% 41% 40% 36% 270 Tangible Assets 19,3 18,9 -2% 33% 34% 240 28% 30% Intangible Assets* 470,2 506,8 8% 210 30% 24% 180 Other Assets 78,6 85,2 8% 150 20%

  19. Slide 19: 2021 guidance

    2020 2021 guidance Invoiced Revenue (TL mn) +31% 179 560 226 802 615 16 429 6 IFRS Revenue (TL mn) +33% 226 15 728 179 6 545 489 361 EBITDA** (TL mn) +47% 221 260 30 177 43 -8 150 -8 Margins 41% 17% n.m. 33% 45% 19% n.m. 36% EBT (TL mn) +66% -11 190 11 196 118 4 -9 118 Margins 33% 2% n.m. 22% 39% 5%

  20. Slide 20: Questions & Answers

    Questions»& Answers

  21. Slide 21: Thank you for joining us today

    _ Thank you forjoining us today Logo Investor Relations Team T: +90 262 679 8000 E: investor@logo.com.tr

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