Slide 1: Results for the six months ended 31 January 2025
Results for the six months ended 31 January 2025 Graham Charlton, CEO Katy Mecklenburgh, CFO 19 March 2025
Slide 2: Largest provider of cyber security, cloud, workplace and IT infrastructure in the UK
We are the largest provider of cyber security, cloud, workplace and IT infrastructure solutions and services in the UK¹, supporting local customers with their global needs We support commercial and public sector organisations to design, procure, implement and manage their IT infrastructure Corporate
Slide 3: H1 FY25 Financial Review
H1 FY25 Financial Review Katy Mecklenburgh, CFO Softcat plc Results for the six months ended 31 January 2025 3
Slide 4: Consistent strategic execution driving further profitable growth
Consistent strategic execution driving further profitable growth GII* Gross profit Operating profit Cash conversion** £1.51bn £220.2m £73.7m 110.9% H1 FY24: £1.26bn H1 FY24: £196.5m H1 FY24: £66.7m H1 FY24: 101.1% +19.3% +12.1% +10.4% £141.0m closing cash Basic EPS Interim dividend Customers Gross p
Slide 5: Summary income statement
Summary income statement £m H1 FY25 H1 FY24 Change • GII growth driven by 22.5% growth in software and Gross invoiced income 1,507.1 1,263.5 19.3% 18.5% in hardware, with services growing 8.8% Revenue 545.6 467.2 16.8% • Revenue growth reflects the strong GII growth, lower Gross profit 220.2 196.5 1
Slide 6: Well-diversified customer base and extensive customer offering
Well-diversified customer base and extensive customer offering Our well-balanced customer base, together with the breadth and depth of our customer proposition, supports continued growth and drives significant competitive advantage Customer segment Product Technology 16% 20% 31% 34% 34% 22% 62% 49%
Slide 7: Growth driven by adding new customers and selling more to existing customers
Growth driven by adding new customers and selling more to existing customers Customer count and GP per customer Customers delivering at least £1k GP in a single year 11,000 £50k £60k 8,000 10,000 £40k £50k 7,000 £40k 9,000 £30k £30k 6,000 8,000 £20k £20k 7,000 £10k 5,000 £10k 6,000 - 4,000 - H1 FY20
Slide 8: Strong cash generation
Strong cash generation £m H1 FY25 H1 FY24 • Strong cash conversion of 110.9%, reflecting Operating profit 73.7 66.7 underlying performance of 89.2%, within our 85%-95% target range, alongside an upfront customer payment Depreciation and amortisation 4.0 3.2 Net movement in working capital 10.4 (1.2)
Slide 9: Further dividend growth
Further dividend growth H1 FY25 H1 FY24 • Interim ordinary dividend of 8.9p, up 4.7% versus H1 Interim 8.9p 8.5p FY24, in line with our amended policy of paying one- third of the previous year’s ordinary dividend as an Ex-dividend date 10 April 2025 interim dividend in the current year Payment date
Slide 10: Disciplined approach to capital allocation
Disciplined approach to capital allocation Expanding headcount and investing in capabilities, systems Investment in organic growth and processes to enable growth and gain market share. The main driver of long-term shareholder value Distributing between 40% and 50% of reported profits after tax Progr
Slide 11: Outlook
Outlook • We continue to expect to deliver another year of double-digit gross profit growth in FY2025, with operating profit growth now expected to be low double-digit, up from high single-digit previously, supported by an encouraging second half pipeline • Softcat operates in a significant and grow
Slide 12: Strategic update
Strategic update Graham Charlton, CEO Softcat plc Results for the six months ended 31 January 2025 12
Slide 13: A proven strategy for sustainable growth
A proven strategy for sustainable growth Acquire more customers Sell more to existing customers Culture and Special Market-leading capability customer service culture development Highly engaged Reinvestment employees Loyalty in people and and proposition Best in class customer propositions trust Mar
Slide 14: The essential elements of our culture
The essential elements of our culture Voice Leadership Recognition Welcoming The “S” in ESG Empowerment Keeping it Accessibility Workplaces Simple Plain language We recognise Smart, We excel at the and straight Our people can Our leaders are “social” forward and reward professional, We trust our tel
Slide 15: The components of our customer proposition
The components of our customer proposition Technology Data strategy proposition Vendor Finance Sales IT management operations, strategy strategy enablement legal Technical and Digital service strategy offering Chief Chief Chief Chief Revenue Technology Chief Commercial Officer Financial Information
Slide 16: The four dimensions of our offering and expertise
The four dimensions of our offering and expertise Networking Technology proposition Hybrid Cyber Data, AI and Workspace and platforms security automation connectivity 400+ Vendor management vendors Technical and services Advise Architect Implement Support Manage offering Customer segments Enterprise
Slide 17: Technology and services portfolio update
Technology and services portfolio update • Microsoft Copilot Workspace • Devices-as-a-service Services: advisory, architecture, implementation, • Windows 11 / device refresh • The right workload in the right place Hybrid • Data sovereignty and latency platforms support and managed • Public / private
Slide 18: Adding value for customers and Softcat through deeper relationships
Adding value for customers and Softcat through deeper relationships £100k+ GP p.a. • Longer average tenure FY24: <1k • Longer average tenure • Higher average # of vendors customers • Higher average GP per AM • Very low churn • Fewer customers per AM £10k–£100k GP p.a. FY24: 3k customers Account Cust
Slide 19: Summary
Summary Sustainability of Strong first half Further strategic growth continues Zero debt and performance progress against to be based strong cash with positive clear and around our generation momentum ambitious plans unique culture Softcat plc Results for the six months ended 31 January 2025 19
Slide 20: Q&A
“SOFtCat Q&A
Slide 21: Appendix
Appendix Softcat plc Results for the six months ended 31 January 2025 21
Slide 22: Sustainability and ESG
Sustainability and ESG Sustainability Vision We strive for a sustainable future and one where our people and our planet can prosper Environmental Social Governance Softcat operations People and community Risk Strategy Supply chain Education and economy Reporting Customer solutions Diversity and incl