Logo Yazilim Sanayi Ve Ticaret A.s. · BIST:LOGO
Logo Yazilim Sanayi Ve Ticaret A.s — Logo Yazılım Sanayi ve Ticaret A.Ş. — Q1 2020 Earnings Presentation
16 slides from Logo Yazilim Sanayi Ve Ticaret A.s's earnings presentation, May 7, 2020
Slide 1: 1Q2020 Results Presentation
1Q2020 Results Presentation Gülnur Anlaş Chief Financial Officer May 7th, 2020
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
Slide 3: Strong performance in 1Q20
Strong performance in 1Q20 Consolidated Revenues (TL mn) EBITDA (TL mn) Net Income (TL mn) 25% 32% 36% 40% 102 20% 34% 36 81 28 18% 21 15 1Q19 1Q20 1Q19 1Q20 1Q19 1Q20 • Revenues grew by 25% reaching 102 TL mn, with Turkey and Romania operations contributing 62% and 38% respectively. • EBITDA increa
Slide 4: Strong Financial Management
Strong Financial Management Consolidated Improved Liquidity Net Cash* (TL mn) Cash and Cash Eq. (TL mn ) 13% 615% 171 152 87 12 1Q19 1Q20 2019 1Q20 * Net cash together with 3.48% treasury shares @Mcap and excluding IFRS impact of 17 TL mn and 15 TL mn for 1Q19 and 1Q20 respectively EPS* growth (LTM)
Slide 5: Update on Covid-19 outbreak's impact
Update on Covid-19 outbreak’s impact All employees well and Logo’s diversified Big ticket sales Agile adaptation to safe working remotely customer base completed during this conditions: keeping since March 17th with no (geography, sector and period and solid sales SG&A in line with disruption in ope
Slide 6: Stellar performance in Turkey
Stellar performance in Turkey Logo Standalone-Revenues (TL mn) Logo Standalone-EBITDA (TL mn) Logo Standalone-Net Income (TL mn) 30% 31% 12% 46% 63 46% 34% 29% 48 29 18 22 16 1Q19 1Q20 1Q19 1Q20 1Q19 1Q20 Logo Turkey Standalone: Logo’s operations in Turkey excluding Logo KOBİ (İşbaşı) and Logo Infos
Slide 7: Significant profitability improvements at Total Soft
Significant profitability improvements at Total Soft Total Soft–Revenues (TL mn) Total Soft–Gross profit (TL mn) Total Soft–EBITDA (TL mn) 16% 17% 34% 38 50% 22% 49% 33 19% 19 8 16 6 1Q19 1Q20 1Q19 1Q20 1Q19 1Q20 Total Soft-Net Income (TL mn) • Revenues grew by 16% y/y and revenue growth in Euros wa
Slide 8: Invoiced Revenue vs IFRS Revenue (Consolidated)
Invoiced Revenue vs IFRS Revenue (Consolidated) First Quarter Invoices & IFRS Revenues (TL mn) IFRS Revenues= 108 Invoices - Net Deferrals 102 Invoices 81 • 1Q sales invoice growth was 42% y/y 76 67 66 54 53 • IFRS Revenue growth was 25%y/y in 1Q 36 26 24 30 22 24 1Q14 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20
Slide 9: Recurring Revenue Growth Ensuring Predictability
Recurring Revenue Growth Ensuring Predictability Consolidated Recurring Invoices (TL mn) • LEM revenues increased by 33% y/y CAGR: 40% 257 • Pay as you go revenues increased by 130% y/y with strong coin sales. Coin customers and coin usage grew by 103% and 125%, respectively 181 135 • Maintenance re
Slide 10: 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 38K customers # of customers ('000) coin usage (mn) CAGR: 46% CAGR: 43% 103% 38 213 32 134 125% 18 19 104 90 14 73 10 40 2016 2017 2018 2019 1Q19 1
Slide 11: Cost of Sales
Cost of Sales Consolidated (TL mn) – As % of IFRS Revenue Total Soft (TL mn) – As % of IFRS Revenue 22% 20% 51% 50% 102 81 38 33 15% 25% 17 15% 19 18 20 1Q19 1Q20 1Q19 1Q20 Revenue Cost of Sales Revenue Cost of Sales www.logo.com.tr 10
Slide 12: Operating Expenses
Operating Expenses OpEx (TL mn) – As % of IFRS Revenue R&D Expenses (TL mn) – As % of IFRS Revenue 59% 58% 27% 26% 102 102 81 81 59 48 25% 21% 22 27 1Q19 1Q20 1Q19 1Q20 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 16% 17% 16
Slide 13: Dedicated Investment in Technology
Dedicated Investment in Technology R&D Spending (TL mn) – As % of Invoices 180 40% 35% 160 33% 35% 30% 30% 30% 140 28% 27% 27% 30% 120 123 25% 100 99 20% 80 60 77 22% 15% 40 57 10% 41 5% 20 32 27 33 0 0% 2014 2015 2016 2017 2018 2019 1Q19 1Q20 R&D Spending (TLmn) - LHS R&D Spending/Invoices -RHS www
Slide 14: Strong Balance Sheet
Strong Balance Sheet Balance Sheet Highlights (TL mn) Working Capital (TL mn) 2019 1Q20 ∆ Cash & Cash Eq. 152,2 171,3 13% 270 Trade Receivables 211,2 176,4 -16% 50% 44% 240 41% 41% Tangible Assets 20,0 20,6 3% 36% 210 40% 33% 34% Intangible Assets* 342,2 365,9 7% 29% 30% 180 Other Assets 50,2 52,8 5
Slide 15: Questions & Answers
Questions & Answers
Slide 16: 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
Logo Yazılım Sanayi ve Ticaret A.Ş. — Q1 2020 Earnings Presentation on 6ix