F-Secure Oyj · OMXHEX:FSECURE
F-Secure Oyj — Q2 2014 Earnings Presentation
22 slides from F-Secure Oyj's earnings presentation, Jul 24, 2014
Slide 1: Switch On Freedom - Interim Report Q2
SWITCH ON FREEDOM F-SECURE CORPORATION INTERIM REPORT Q2 July24, 2014 CEO Christian Fredrikson
Slide 2: Content
CONTENT • Q2 Highlights • Awareness • Key products • Q2’14 financials
Slide 3: Highlights Q2
HIGHLIGHTS Q2 • Solid profitability and cash flow • Revenues grew by 1% to 38.6 million (Q213: 38.4 m) • EBIT 5 million, 13 % of revenues (Q213: 4 m, 11 %) • Cash flow from operations 6 million positive (Q213: 5.7 m positive) ; change of cash 3.3 million positive ( Q213: 4.6 m positive) • The securi
Slide 4: re:publica
RE:PUBLICA The Company continued to gain traction and build awareness: At re:publica, one of the biggest European summits for digital natives, the Company launched a corporate responsibility initiative to fight for digital freedom and privacy.
Slide 5: SPECIES
SPECIES In May, the Company hosted 8th annual SPECIES conference for operators to enforce the ecosystem.
Slide 6: Run your security & content services in the cloud
RUN YOUR SECURITY & CONTENT SERVICES IN THE CLOUD: CONTENT CLOUD SECURITY FROM-THE-CLOUD Cloud storage, sharing and Protects you and your business from collaboration service that takes all cyber threats as a service. privacy and security seriously. Coverage for all of your devices, content and IT in
Slide 7: Focus businesses
FOCUS BUSINESSES CONSUMERS BUSINESS -------------------------------- MULTIDEVICE PROTECTION F-SECURE SERVICE FOR PROTECTION SAFE BUSINESS IDENTITY MANAGE- F-SECURE MENT KEY PERSONAL CLOUD PRIVACY F-SECURE F-SECURE FREEDOME FREEDOME
Slide 8: F-Secure SAFE
F-SECURE SAFE Protect your life on every device. Multi-device Internet security for your PC, Mac, smartphone and tablet. Protect your devices with one simple solution.
Slide 9: Protection Service for Business
PROTECTION SERVICE FOR BUSINESS UNIQUE POSITION Multi-Device Security UNIQUE Patch Management POSITION Store, Sync, Share Management & MDM Privacy & Trust DEVELOPMENT Strong on-going evolution towards the next-generation cloud security solution.
Slide 10: younited for Business
YOUNITED FOR BUSINESS THE NEW FACE OF COLLABORATION Today’s way of working online is real time, connected and responsive. Modern collaboration is all about working together in the cloud.
Slide 11: F-Secure Freedome - One button for all
F-SECURE FREEDOME - ONE BUTTON FOR ALL INVISIBLE TELEPORT LOCATION Surf anonymously. Change your virtual location Protected, private. to the other side of the world. WI-FI SECURITY Connect securely. Encrypted and invisible. UNTRACKABLE Stop advertisers from tracking you. SAFE BROWSING Block malware,
Slide 12: Financials Q2 2014
FINANCIALS Q2 2014
Slide 13: Revenues
REVENUES EURm Q2 Revenues grew by 1% 45 • Total quarterly revenues 38.6m 40 (Q213: 38.4 m) 35 • Operator revenues declined by 30 2% to 23.3m; (Q213: 23.8 m) due 25 to the phasing out of legacy content cloud business and 20 traditional PC centric sales 15 • Other channels grew by 5% to 10 15.3m (Q213
Slide 14: Profitability
PROFITABILITY 30% Q2 profitability • EBIT 5m , 13% (Q213: 4 m, 11%) 25% • Earnings per share EUR 0.02 20% (EUR 0.02) 15% 10% 5% 0% Q3'06 Q3'04 Q1'05 Q3'05 Q1'06 Q1'07 Q3'07 Q1'08 Q3'08 Q2'09 Q4'09 Q2'10 Q4'10 Q2'11 Q4'11 Q2'12 Q4'12 Q2'13 Q4'13 Q2'14 EBIT% Ave (4 qrts) 14
Slide 15: Costs
COSTS EURm Q2 costs decreased by 3% 45 40 Costs 32.5m (Q213: 33.3 m) 35 * * 30 • Investing in cloud business; R&D and Sales 25 & Marketing activities; i.e. SAFE business, SMB focus in Germany, France and USA, 20 younited and Feedome 15 10 • Cost level was impacted by increased 5 depreciations from p
Slide 16: Deferred revenues
DEFERRED REVENUES EURm 45 Q2 Deferred revenues 39.9m (37.8m) 40 35 Deferred revenues accrued in the 30 balance sheet 25 20 • Dec 31,2012 37.7 m 15 10 5 0 16
Slide 17: Cash position
CASH POSITION EURm Solid Cash flow in Q2 60 • Cash position remains solid 50 • From operations 6m (Q213: 5.7m); 40 • Change in cash 3.3 m positive (Q213: 4,6m positive) 30 • Dividend of 9.3m paid in April 20 Market value of liquid assets 47.4m 10 (Q213: 34.1m) 0 • Dec 31, 2013 47.8m Cash position Di
Slide 18: Number of personnel
NUMBER OF PERSONNEL 1200 At the end of Quarter: 951 (Q2/13: 954) 1000 800 600 400 200 0 Q112 Q212 Q312 Q412 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Administration Research and Development Sales and Marketing 18
Slide 19: Regional revenue
REGIONAL REVENUE 1-6/2014 1-6/2013 Rest Rest of 12 % world 13 % North North Nordic America Nordic America 29 % 10 % 31 % 11 % Rest of Europe Rest of 47% Europe 47 % 19
Slide 20: Outlook for 2014
OUTLOOK FOR 2014 • The management’s estimation for the year is unchanged: • The annual revenue is estimated to grow from 2013 with stronger second half. • The annual profitability is estimated to be around 15 % of revenues excluding one-off costs. • The company expects overall one-off costs to be le
Slide 21: Thank you! Forward-looking statements
THANK YOU! Forward-looking statements: Certain statements in this presentation are forward-looking, and the actual outcome could be materially different. Such forward-looking statements are based on F-Secure’s present plans, estimates, assumptions, projections and expectations and are subject to ris
Slide 22: Join the movement
JOIN THE MOVEMENT f-secure.com/digitalfreedom