Eezy Oyj · OMXHEX:EEZY
Eezy Oyj — Q4 2023 Earnings Presentation
27 slides from Eezy Oyj's earnings presentation, February 2024
Slide 1: Eezy Plc Financial statements bulletin Q4/2023
Eezy Plc Financial statements bulletin Q4/2023 CEO Siina Saksi CFO Hannu Nyman
Slide 2: Agenda
Interim report Q4/2023 Agenda • Eezy today • Financial statements bulletin 2023 and 10-12/2023 • Eezy strategy 2024-2028 • Q&A
Slide 3: We know the needs of the Finnish working life
We know the needs of the Finnish working life Eezy as numbers Revenue 219 M€ (2023) 41 offices around Finland • Over 30 years experience Own administrative staff approximately 500 Tax footprint 127 M€ • Nationally local • Known and trusted operator (L&M) Strong brand and reputation (Luottamus&Maine)
Slide 4: The most versatile working life services from one address
The most versatile working life services from one address We help our customers and employees in versatile working life situations Employee experience development Training, coaching, rehabilitation services for • Industry through research, trainings and consulting. job seekers, immigrants and employ
Slide 5: Reasonable result in a difficult market - focus on building profitability
2023 in brief Reasonable result in a difficult market - focus on building profitability • Our revenue decreased by 12% to 219 million euros (247.6 M€). • For Q4, revenue fell by 16% to 52.1 million euros (from 62.2). • Staffing services: our mission is to bring flexibility to workforce needs – weak
Slide 6: Staffing services
Staffing services
Slide 7: Revenue in Staffing services decreased
Interim report Q4/2023 Revenue in Staffing services decreased Q4/23 Q4/22 1-12/23 1-12/22 42.7M€ 53.7M€ 188.3M€ 219.6M€ (-21%) (-14%) • Demand for labor has weakened, especially in the construction and industrial sectors. • The horeca and retail sectors experienced smaller labor needs, particularly
Slide 8: Professional services
Professional services
Slide 9: Growth in Professional services
Interim report Q4/2023 Growth in Professional services Q4/23 Q4/22 1-12/23 1-12/22 9.6M€ 8.6M€ 31.0M€ 28.4M€ (+12%) (+9%) • Q4 growth was entirely organic – a good achievement in a difficult market situation. • Especially employment services offered to public administration (career planning, employm
Slide 10: 2023 priorities implemented
Interim report Q4/2023 2023 priorities implemented 1 Implementation of the profitability program – we will achieve the savings target of 3 million euros 2 Staffing services – determined execution of the ERP project 3 Focus on the customer, ensuring revenue 4 Eezy's strategy work has been completed
Slide 11: Financial information
Financial information
Slide 12: Key figures
Key figures 10-12/ 10-12/ 1000 euro Change 2023 2022 Change 2023 2022 Revenue 52 132 62 234 -16 % 218 974 247 596 -12 % EBITDA 3 567 4 649 -23 % 14 519 18 231 -20 % EBITDA % 6.8 % 7.5 % - 6.6 % 7.4 % - EBIT -691 2 705 -126 % 4 031 10 004 -60 % EBIT % -1.3 % 4.3 % - 1.8 % 4.0 % - EPS, eur/share -0.06
Slide 13: Income statement
Income statement 10-12/ 10-12/ 1000 euro 2023 2022 2023 2022 • Decrease in revenue is the largest reason for the Revenue 52 132 62 234 218 974 247 596 profit decrease. Additionally, the decrease of Other operating income 39 82 261 347 industrias & construction sectors has weakened Share of result of
Slide 14: Balance sheet
Balance sheet 1000 euro 31.12.2023 31.12.2022 ASSETS • Goodwill and intangible assets approx. Goodwill 141 654 141 654 165 M€ 23 500 28 284 Intangible assets • Write-down of 2.3 M€ in Q4 for Tangible assets 7 969 5 680 acquisition related trademarks and Long-term receivables and investments 2 504 1
Slide 15: Balance sheet key figures
Balance sheet key figures 1000 eur 12/2023 12/2022 Net debt 58 001 52 466 Net debt excluding IFRS16 50 383 47 307 Net debt/EBITDA 4.0 x 2.9 x Gearing, % 52.8 % 46.4 % Equity ratio, % 53.2 % 52.2 % Equity per share, EUR 4.39 4.51 Eezy’s long-term financing has been renewed in October. The loans mainl
Slide 16: Largest shareholders
Largest shareholders 31.1.2024 # Shareholder Shares % 1 Sentica Buyout V Ky 7 065 658 28.21 2 Meissa-Capital Oy 3 223 071 12.87 3 SVP-Invest Oy 1 500 000 5.99 4 Evli Suomi Small Cap fund 1 341 126 5.35 5 OP-Suomi Small Cap fund 1 219 668 4.87 6 WestStar Oy 552 464 2.21 7 Visio Allocator fund 500 000
Slide 17: Annual General Meeting
Annual General Meeting 9.4.2024 Key proposals by the Board of Directors: • No dividend to be paid for year 2023 • Proposed Board members: Tapio Pajuharju, Paul Savolainen, Mika Uotila, Kati Hagros, Mikko Wirén and Maria Pajamo be re-elected and Tomi Laaksola be elected as a new member • Same share b
Slide 18: Outlook for 2024
Outlook for 2024 • The year begins in a low economic cycle, and our clients’ views on their workforce needs and investment capacity are uncertain. • Based on economic forecasts, the possible decline in interest rates is expected to have a positive impact on economic development towards the end of th
Slide 19: New CFO appointed
New CFO appointed Joni Aaltonen, Eezy Plc, Chief Financial Officer (1.4.2024 -) • Born 1970, BBA • Finnish citizen Work Experience: • Silo AI, Strategy Director 2023 • Pihlajalinna Plc, CEO 2017-2023 • Pihlajalinna Plc, SVP Primary and Social Care segment 2017 • Pihlajalinna Plc, Head of M&A 2015-20
Slide 20: GoodWork2028
GoodWork2028 We focus on building good working life, together. Eezy strategy 2024–2028 #GoodWork2028
Slide 21: Maker of a good working life
Healthy work community #GoodWork2028 Right talent in Winning right places MISSION corporate culture VISION MAKER OF LET'S MAKE A GOOD WORK A HAPPY Growth and WORKING Successful MATTER! wellbeing for Finland LIFE companies Work for everybody Competitive advantage Sources for Keys to success profitabl
Slide 22: Staffing market size is ca. 3,3 billion € and it is growing
Staffing market size is ca. 3,3 billion € and it is growing - Eezy already has a strong foothold, and potential to grow further, also in new sectors Market CAGR Sector Market size and Eezy’s market share 2022 2022-28 Industry. Good opportunities to gain additional market share in selected Industry T
Slide 23: Professional services' market size is ca. 500 M€
Professional services’ market size is ca. 500 M€ - Growth potential especially in the development of employee experience and employment services Market size and Market CAGR Segment Eezy’s market share 2022 2022-28 Recruitment 5% 140-160 services 5% Recruitment and employment services. A fragmented m
Slide 24: Long-term financial targets for 2028
Strategic targets 2028 Long-term financial targets for 2028 We aim for faster revenue growth in Staffing services than the staffing market, and doubling the revenue in the Professional services from the 2023 level. Our goal is to significantly improve our profitability. Staffing services: Profession
Slide 25: Long-term financial targets 2028
Healthy work Long-term financial #GoodWork2028 Right talent in community targets 2028 Winning right places MISSION corporate culture VISION • Staffing: faster revenue growth than the staffing market growth MAKER OF LET'S MAKE • Professional Services: doubling the revenue A GOOD WORK A HAPPY • Operat
Slide 26: Q&A
Q&A cezy) Celebrating work and life
Slide 27: Thank you!
Thank you! ery)