Slide 1: Q1 2023 Earnings Call
Q1 2023 Earnings Call
Slide 2: Disclaimer and forward-looking statements
The information contained in this document is provided as of the date of its publication and is subject to change without notice. This presentation contains preliminary figures and forward-looking statements. Forward-looking statements may be identified by words such as “expect”, “forecast”, “antici
Slide 3: Highlights and Milestones
Highlights Milestones • Constant currency growth continued, • 2.6% QoQ although the pace moderated revenue growth in constant currency • FX impacted reported revenue numbers • 22.9% YoY revenue growth in constant currency • Inorganic growth continued with the acquisition of Infocore and MBIS • Net P
Slide 4: Q1 2023 key figures and guidance
€230m 23.7% 22.9% 26.8% €31.4m revenue YoY revenue growth YoY revenue growth gross margin adjusted EBITDA (constant currency) INDUSTRIES’ YoY GROWTH RANGE SEGMENTS’ YoY GROWTH RANGE 39% -6% 33% 17% 15% financial services & horizontal tech rest of world central europe top 5 clients’ revenue insurance
Slide 5: Revenue by industry and client concentration
6% (PY 6%) 7% (PY 7%) Telecom, Media and Management Entertainment Consulting and 9% Business Information 20% (PY 19%) Top 6-10 Automotive, Manufacturing 7% (PY 8%) and Industrial Life Sciences and 15% Healthcare Top 5 8% (PY 7%) Energy, Utilities and €230m 14% (PY 13%) €230m Bldg Automation Q1 ’23 F
Slide 6: Revenue by region and professionals
22% (PY 20%) Rest of World 27% (PY 29%) Central Europe 18,946 (Germany is 20%) total professionals, of which... €230m Q1’23 17,674 professionals in engineering 14% (PY 13%) 38% (PY 38%) Rest of Europe North America 6
Slide 7: Revenue growth by region
29% 27% 25% 24% 28% 34% 27% 24% Q1 ’22 Q1 ’23 Q1 ’22 Q1 ’23 Q1 ’22 Q1 ’23 Q1 ’22 Q1 ’23 North America Central Europe Rest of Europe Rest of World 7
Slide 8: Net leverage and cash flow
Net leverage 2.1x 1.1x 1.04x Net liabilities 166.0 162.2 157.4 Total cash flow -27.2 7.0 Lease liabilities Net cash flow from operating activities Financial liabilities Net cash flow from investing activities Cash Net cash flow from financing activities 8
Slide 9: 2023 target
2023 target Revenue ~€940m Gross Margin ~28% Adjusted EBITDA ~15% 9
Slide 10: Positioning, clients, organization, financials, growth
1. Positioning “Engineering DNA” digital leader with a special “Enterprise Agile” approach 2. Clients Large, global, blue-chip customer base 3. Organization Agile, entrepreneurial and global org design and culture 4. Financials Strong revenue growth, attractive margins and upside potential 5. Growth
Slide 11: Q&A