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Logo Yazilim Sanayi Ve Ticaret A.s — Logo Yazılım Sanayi ve Ticaret A.Ş. — 9M 2022 Earnings Presentation

22 slides from Logo Yazilim Sanayi Ve Ticaret A.s's earnings presentation, Nov 9, 2022

  1. Slide 1: 9M2022 Results Presentation

    9M2022 Results Presentation Gülnur Anlaş Chief Financial Officer November 9th, 2022

  2. Slide 2: Disclaimer

    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 refl

  3. Slide 3: Strong performance continues in Q322

    Strong performance continues in Q322 Consolidated Revenues (TL mn) EBITDA (TL mn) Net Income (TL mn) 126% 81% 134% 32% 30% 383 122 113 40% 29% 169 67 49 Q321 Q322 Q321 Q322 Q321 Q322 • Strong growth continued in Q3 across the board despite macro uncertainties • Recurring revenues were 59% of invoice

  4. Slide 4: Solid results in 9M22

    Solid results in 9M22 Consolidated Revenues (TL mn) EBITDA (TL mn) Net Income (TL mn) 110% 94% 39% 110% 1,020 35% 394 42% 353 35% 486 203 168 9M21 9M22 9M21 9M22 9M21 9M22 • Revenues up by 110%, reaching 1.02 TL bn, with Turkey and Romania operations contributing 64% and 36% respectively • EBITDA up

  5. Slide 5: Effective financial management

    Effective financial management Consolidated Cash and Financial Investments (TL mn) Strong FCF – LTM (TL mn) 8% 600 169% 555 174 295 337 259 263 65 9M21 9M22 2021 9M22 Financial Investments (ST&LT) Cash and Cash Eq. EPS* growth (LTM) 126% 4.66 2.07 9M21 9M22 *Adjusted by 3.61% treasury shares (9M21:

  6. Slide 6: Strong performance in Turkey amid macro challenges

    Strong performance in Turkey amid macro challenges Logo Turkey-Revenues (TL mn) Logo Turkey-EBITDA (TL mn) Logo Turkey-Net Income (TL mn) 96% 100% 73% 88% 122% 116% 648 48% 50% 311 324 51% 46% 325 42% 166 47% 221 48% 150 42% 104 113 54 93 47 Q321 Q322 9M21 9M22 Q321 Q322 9M21 9M22 Q321 Q322 9M21 9M2

  7. Slide 7: eLogo: e-services platform and leader in digital transformation

    eLogo: e-services platform and leader in digital transformation Market leader in e-government solutions; e-invoice, e-archive, e-ledger, e-dispatch with 124K customers # of customers ('000) eLogo invoiced revenues (TL mn) CAGR: 56% 55% CAGR: 47% 59% 124 24 30 95 80 24 56 14 37 194 179 32 134 10 14 1

  8. Slide 8: Logo İşbaşı: SaaS solution for MicroSME digitalization

    Logo İşbaşı: SaaS solution for MicroSME digitalization Offering basic accounting software and e-invoicing services # of users ('000) 44 45 46 48 48 48 47 40 43 33 37 User growth: 27 29 18 20 21 24 77% y/y 15 16 10 12 13 6 7 8 1 1 2 2 2 2 3 3 4 ARPU*: 331 TL Aug.'21 Aug.'20 Dec.'19 Mar.'20 Apr.'20 De

  9. Slide 9: Solid performance at Total Soft

    Solid performance at Total Soft Total Soft–Revenues (TL mn) Total Soft–Gross profit (TL mn) Total Soft–EBITDA (TL mn) 187% 130% 144% 108% 42% 113% 124% 371 22% 155 83 46% 38% 23% 18% 162 162 45% 75 24% 61 37 29 56 25 14 Q321 Q322 9M21 9M22 Q321 Q322 9M21 9M22 Q321 Q322 9M21 9M22 Total Soft-Net Incom

  10. Slide 10: Invoiced Revenue vs IFRS Revenue (Consolidated)

    Invoiced Revenue vs IFRS Revenue (Consolidated) Third Quarter Invoices & IFRS Revenues (TL mn) IFRS Revenues = Invoices - Net Deferrals 383 380 Invoices • Q3 sales invoice growth was 121% y/y • IFRS Revenue growth was 126%y/y in Q3 169 172 120137 77 75 92 90 57 52 38 28 Q316 Q317 Q318 Q319 Q320 Q321

  11. Slide 11: Recurring Revenue Growth Ensuring Predictability

    Recurring Revenue Growth Ensuring Predictability Consolidated Recurring Invoices (TL mn) • LEM revenues increased by 83% y/y CAGR: 44% • Pay as you go revenues increased by 59% y/y 84% • Maintenance revenues increased by 104% y/y 575 527 • Retail SaaS revenues increased by 129% 384 312 257 • SaaS re

  12. Slide 12: Cost of Sales

    Cost of Sales Consolidated (TL mn) – As % of IFRS Revenue Total Soft (TL mn) – As % of IFRS Revenue 20% 23% 54% 58% 1,020 371 486 216 162 147% 237 87 96 149% 9M21 9M22 9M21 9M22 Revenue Cost of Sales Revenue Cost of Sales www.logo.com.tr 12

  13. Slide 13: Operating Expenses

    Operating Expenses OpEx (TL mn) – As % of IFRS Revenue R&D Expenses (TL mn) – As % of IFRS Revenue 50% 47% 24% 20% 1,020 1,020 486 474 486 244 94% 74% 204 117 9M21 9M22 9M21 9M22 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

  14. Slide 14: Dedicated Investment in Technology

    Dedicated Investment in Technology R&D Spending (TL mn) – As % of Invoices 350 33% 31% 35% 30% 30% 30% 300 27% 27% 30% 24% 305 250 25% 200 232 20% 150 15% 146 146 100 123 10% 99 50 77 5% 57 0 0% 2016 2017 2018 2019 2020 2021 9M21 9M22 R&D Spending (TLmn) - LHS R&D Spending/Invoices -RHS www.logo.com

  15. Slide 15: Strong Balance Sheet

    Strong Balance Sheet Balance Sheet Highlights (TL mn) Working Capital (TL mn) 2021 9M22 ∆ 44% Cash & Cash Eq. 259.4 263.1 1% 40% 36% 500 Trade Receivables 333.7 310.5 -7% 33% 34% 31% 400 Tangible Assets 21.0 23.6 13% 28% 30% 26% Intangible Assets* 759.2 975.9 29% 300 Other Assets 434.2 555.5 28% 20%

  16. Slide 16: Questions & Answers

    Questions & Answers

  17. Slide 17: Appendix

    Appendix

  18. Slide 18: Revised Guidance

    Revised Guidance 2021 2022 revised guidance Invoiced Revenue (TL mn) +81% 483 1,574 1,050 40 254 19 867 594 IFRS Revenue (TL mn) +88% 483 35 1,445 262 767 930 490 15 EBITDA** (TL mn) +68% 352 150 481 198 96 -14 286 -34 Margins 40% 37% n.m. 37% 38% 31% n.m. 33% EBT (TL mn) +57% 425 71 -38 471 238 72

  19. Slide 19: ESG in numbers

    ESG in numbers + + + 1,315 43% 50% 35 Employees Women Women in Average age employees executive of employees management + + 27% 50% 9.28/10 100% R&D spending/ of Board is Corporate of e-waste invoiced independent Governance recycled in TR revenues Rating * All data is for 2021. Employee data is year-

  20. Slide 20: eLogo: e-services platform and leader in digital transformation

    eLogo: e-services platform and leader in digital transformation New communique’s details (January 22nd, 2022) BEFORE AFTER (eff. as of July 1st, 2022) Companies w/sales 5mio₺+, Companies w/sales 4mio₺+, e-invoice Specific sectors with no sales Companies in some sectors w/sales 1mio ₺+, threshold Spe

  21. Slide 21: Invoiced Revenue Growth and Breakdown

    Invoiced Revenue Growth and Breakdown 2016* 2017 2018 2019 2020 2021 4-yr-CAGR Invoiced revenues (TL mn) 175,8 259,1 333,0 460,1 617,7 848,6 35% One-time - TR 70,3 83,4 95,0 130,1 145,6 207,2 26% share in total 40% 32% 29% 28% 24% 24% One-time - RO 21,3 40,2 57,5 72,9 87,9 114,2 30% share in total 1

  22. Slide 22: Thank you for joining us today

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

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