Slide 1: Admicom Oyj – Full year and Q4 results
Admicom Oyj Building sustainable future together Full year and Q4 results 23 January 2025 Simo Leisti, CEO Satu Helamo, CFO
Slide 2: Agenda
Agenda New CEO Simo Leisti Admicom strategy execution in 2024 – Simo Leisti & Satu Helamo Q4 and 2024 financials - Satu Helamo Expectations for 2025 – Simo Leisti Financial outlook for 2025 - Satu Helamo Q&A
Slide 3: New CEO Simo Leisti since January 1, 2025
New CEO Simo Leisti since January 1, 2025 Futurice Group Group CEO Fujitsu Finland Oy CEO (Finland and Baltics). ERP business lead, EMEA Technology Industries of Finland ry Board member, Member of the Working Council Cisco Systems Finland Oy Country MD (Finland and Baltics). Also responsible for ser
Slide 4: Agenda
Agenda New CEO Simo Leisti Admicom strategy execution in 2024 – Simo Leisti & Satu Helamo Q4 and 2024 financials - Satu Helamo Expectations for 2025 – Simo Leisti Financial outlook for 2025 - Satu Helamo Q&A
Slide 5: Our North Star is the ambition we aim for
Our North Star is the ambition we aim for Our building ecosystem customers are +25% more productive than their peers Superior customer Comprehensive data experience is the result platform with AI: of seamless connection Innovative, but simple to use of software with value 2030: solutions utilize dat
Slide 6: First choice of partner in the European construction software ecosystem
Strategic journey: ”First choice of partner in the European construction software ecosystem” Construction Construction technology Multi-sector ERP- technology for building for building ecosystem software in Finland ecosystem in Finland internationally Limited capability for Comprehensive portfol
Slide 7: The least use of AI is in the construction industry
"The least use of AI is in the construction industry, where only one in four companies report using AI." "Main issue in adoption is lack of AI skills." - Research by Federation of Finnish Enterprises & Verian, 15.1.2025
Slide 8: Bauhub brings a new dimension to Admicom's Product Portfolio
Bauhub brings a new dimension to Admicom’s Product Portfolio Use cases Stakeholders Monetization Competitors Project master data Project managers Project-based Sokopro Dashboard Project owners subscription fee Buildercom Project Documents & plans Architects Feature- & volume- D
Slide 9: 2024 strategy execution
2024 strategy execution International Project management Unifying user acquisition suite vision clarified experience First concrete step abroad with Improved international potential Development of integrations, Bauhub acquisition. High synergies with more integrated product SSO and unified dashboard
Slide 10: Highlights from Q4
Highlights from Q4 Good progress in building sales pipeline, but some softness in new sales towards end of the year partially due to low resourcing Net new onboarded customers highest in Q4 of all quarters Full year customer churn 5.4% and below target Decent upsell and cross sales results,
Slide 11: Revenue in construction sector still decreasing but trending to right direction
Revenue in construction sector still decreasing but trending to right direction Market signals for construction are turning more positive, but recovery Revenue in construction, % change y/y expected to be slow 5 3,2 Latest estimates forecast modest +4% growth in construction revenue for 2025 (-7
Slide 12: Agenda
Agenda New CEO Simo Leisti Admicom strategy execution in 2024 – Simo Leisti & Satu Helamo Q4 and 2024 financials - Satu Helamo Expectations for 2025 – Simo Leisti Financial outlook for 2025 - Satu Helamo Q&A
Slide 13: Key figures of Q4 2024
Key figures of Q4 2024 ARR growth Recurring revenue Revenue growth growth 9.8%* 8.9% 7.5% (8.5%) (5.6%) (1.9%) Adjusted EBITDA Customer churn LTM Recurring revenue of total revenue 28.4% 5.6% 94% (29.8%) (6.9%) (93%) * Impact of inorganic Bauhub acquisition in ARR growth +4.6 %-points Figures in bra
Slide 14: Key financials Q4
Key financials Q4 ADMICOM GROUP (1,000 EUR) Q4 2024 Q4 2023 VAR y/y Q3 2024 VAR q/q FY 2024 FY 2023 VAR y/y ARR 35,683 32,492 9.8% 34,026 4.9% 35,683 32,492 9.8% Recurring revenue 8,307 7,631 8.9% 8,246 0.7% 33,561 31,936 5.1% % of revenue 94.3% 93.1% 95.0% 94.3% 93.1% Revenue 8,808 8,194 7.5% 8,679
Slide 15: ARR trend 2022-2024
ARR trend 2022-2024 40,0 Q4 q/q growth +4.9% where +9.8% Bauhub impact +4.4%. 35,0 35,7 33,8 33,7 34,0 Organic ARR growth in Q4 slowed 32,6 32,5 down by Ultima downsell 30,0 31,6 29,6 30,0 30,7 (=revenue based customer 28,9 contract updates). 25,0 25,1 Negative impact from annual 20,0 adjustment fee
Slide 16: ARR bridge 2021-2024
ARR bridge 2021-2024 Nousu Lasku Summa 40,0 4,4 2,5 2,1 35,7 35,0 2,2 3,0 0,8 - 2,7 - 1,5 32,5 - 0,9 - 1,8 2,0 2,2 29,9 - 2,1 30,0 3,0 0,6 - 0,9 - 1,4 25,0 24,4 20,0 15,0 10,0 5,0 - M&A in 2024 includes Trackinno & Bauhub
Slide 17: 94% of Admicom's revenue is recurring
94% of Admicom’s revenue is recurring 2% 2% 2024 2024 6% 8% 8% 18% 6% 13% 18% 13% 2% 2023 2023 77% 76% 75% 76% ERP solutions Project management solutions SaaS Recurring accounting Non-recurring services Documentation solutions Fleet management Software development services
Slide 18: Strong balance sheet and cash flow; R&D focus shift
Strong balance sheet and cash flow R&D focus shift to new technologies and new Bauhub acquisition paid with cash reserves products supporting capitalizations Majority of R&D expenses reflected in the P&L 0,4 4,0 % 13 3,5 % 12 11 10 9 0,3 3,0 % 8 8 2,5 % 5 0,2 2,0 % 1 -1 1,5 % -4 -4 -5 0,1 1,0 % -6 -
Slide 19: Agenda
Agenda New CEO Simo Leisti Admicom strategy execution in 2024 – Simo Leisti & Satu Helamo Q4 and 2024 financials - Satu Helamo Expectations for 2025 – Simo Leisti Financial outlook for 2025 - Satu Helamo Q&A
Slide 20: Transition to next strategic phase
Transition to next strategic phase: ”First choice of partner in the European construction software ecosystem” Construction Construction technology Multi-sector ERP- technology for building for building ecosystem software in Finland ecosystem in Finland internationally Limited capability for Comp
Slide 21: Current growth opportunities
Current growth opportunities Large addressable market (TAM) Vast growth opportunities in major European markets opportunity just in Finland (TAM, relative to Finland) Services ARR Software ARR ~15x 350 MEUR ~6x 10x ~4x ~3x 35,7 MEUR N.q. ARR ARR12/23 12/24 TAM
Slide 22: SME focus provides a significant growth potential
Gartner: SME focus provides a significant growth potential 86% with $10M 92% with 10 or less revenue users or less Construction software buyers / Gartner Digital Markets / Oct 11, 2024
Slide 23: Main expected benefits from construction software
Gartner: Main expected benefits from construction software Enhanced project Improved operational Better collaboration and management accuracy communication Construction software automates Construction software offers a Construction software provides a various manual processes, consolidated solution
Slide 24: Project collaboration and information management
Manage your construction lifecycle in the simplest way and gain complete control over project complexity Architects Quantity Project Material Subcontractors Stakeholders Clients and and cost Management and employees suppliers Owners Engineers estimators Project lifecycle Pro ject co llab o ratio n a
Slide 25: Re-aligning our priorities towards the North Star
Re-aligning our priorities towards the North Star 2025 2030 Accelerated Growth North Star vision Becoming the preferred choice Being recognized as a market Market focus for selected target markets and leader. customer segments. Re-aligning our portfolio Delivering our unique customer Product marke
Slide 26: Transitioning to Accelerated Growth -phase
Transitioning to Accelerated Growth -phase Clarification of our 2025 strategic execution plans in Q1 in order to ramp-up our accelerated growth. Re-allocating resources for selected growth initiatives both Short Term in Finland and in international go-to-market. Priorities Gaining further syne
Slide 27: Admicommunity at year end 2024
Admicommunity at year end 2024 Headcount* increase during 2024 was 35 2024: 306, 2023: 271 6% Of the total increase, 20 employees came from 2024 acquisitions. Acquired companies’ personnel mostly 21% 6% 29% Accounting operate in engineering, product management and 21% 32% R&D customer facing r
Slide 28: Agenda
Agenda New CEO Simo Leisti Admicom strategy execution in 2024 – Simo Leisti & Satu Helamo Q4 and 2024 financials - Satu Helamo Expectations for 2025 – Simo Leisti Financial outlook for 2025 - Satu Helamo Q&A
Slide 29: Outlook 2025
Outlook 2025 + Market expected to improve, but speed of recovery uncertain ARR growth Main reason for wide range for ARR growth + New and up/cross sell opportunities improving with market and investments into sales & marketing and customer experience 8-14% + Moderate reduction in churn and downsel
Slide 30: Admicom investment highlights
Admicom investment highlights Vision First choice of partner in the European 1. Firm foundation to build on construction software ecosystem. 2. Huge long-term potential in ConTech Ambition 3. Comprehensive cloud SaaS -suite 100 MEUR ARR by 2030 4. Solid financials and governance
Slide 31: Thank you! Questions please!
Thank you! Questions please! investors.admicom.fi