Acroud Ab · OMXSTO:ACROUD
Acroud Ab — Q2 2022 Earnings Presentation
29 slides from Acroud Ab's earnings presentation, Aug 1, 2022
Slide 1: Continued Strong Organic Growth with refinancing secured
Q2 2022 Continued Strong Organic Growth with re nancing secured AN OUTLOOK ON ACCELERATED GROWTH Investor Presentation Q2 2022 1 fi
Slide 2: Agenda
Agenda 1. Summary 2. Acroud Described Robert Andersson CEO 3. Key Markets 4. Financial Details 5. Closing comments Investor Presentation Q2 2022 Roderick Attard CFO
Slide 3: Q2 Key Figures
Q2 REVENUE Key Figures 7 200 kEUR (6 200) EBITDA • Revenue amounted to 1 802 kEUR (1 500) PROFIT • EBITDA amounted to 1 248 kEUR (-267) • Pro t after tax was NDC • New Depositing Customers 35 134 (29 448) CASH FLOW • Cash ow from operating activities 1 490 kEUR (1 965) Investor Presentation Q2 2021
Slide 4: Overview Q2: Recent Activities
Overview Recent Activities Q2 • FINANCIAL TARGETS Update • REFINANCING Secured • ACQUSITION In progress 2022
Slide 5: Financial Targets
Financial Targets Deliver EBITDA of 8-10 MEUR during nancial year 2022 Grow EBITDA 20% annually during nancial years 2023-2025 Decrease net interest- bearing debt to 2.5x or lower by December 2025. fi fi
Slide 6: The Bond: New Info
The Bond New Info Successfully placed mSEK 225 Redeeming outstanding SEK 300 million bonds early Momentum to continue developing Acroud with focus on pro table organic growth delivering on our strategic agenda fi
Slide 7: Potential Acquisition
Potential Acquisition Considering an acquisition opportunity 60% shareholding in an Af liation and Media company M&A is progressing well low-risk, high-growth business af liation tech in iGaming market contributing to achieving the new nancial targets fi fi fi
Slide 8: Group - Revenue Development
GROUP - Revenue Development 8 000 7,003 7,200 7 000 6,448 6,540 6,200 6 000 5,579 5 000 4 000 3 000 2,497 2,374 2 000 1 000 SaaS Segment iGaming Af liation Segment - Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 fi
Slide 9: Acroud Described
Acroud Described Investor Presentation Q2 2022 Investor Presentation Q2 2022
Slide 10: The Offer: a diversified and intelligent business
THE Advertising OFFER Innovative SEO Networks a Continued development in our SEO strategy is paying off Building strong relationships with our diversi ed partners via large network partnerships and intelligent PPC + Media in Media House approach to our Partnerships house business tier 1, 2 and 3 GEO
Slide 11: Portfolio of Brands
Portfolio of Brands Affiliate Segment Strong digital brands with quality content in traditional verticals. SaaS Segment Industry leading technology, data collection tools and powerful access to better deals. 11
Slide 12: A current success story
a current SUCCESS-story A strategic shift to focus on content. Affiliate Segment Strong digital brands with quality content in traditional verticals. Pokerlistings doing liveblogs from various live events and commercial partners adding new revenue streams 12
Slide 13: Market Update
Market Update Investor Presentation Q2 2022 Investor Presentation Q2 2022 13
Slide 14: Acroud in United Kingdom
Acroud in United Kingdom UK is Europe’s biggest market. Acroud’s fastest growing market. Acroud is outperforming competitors in growth. 14
Slide 15: Acroud in the Dutch Market
Acroud in the Dutch Market Developing slower than expected. Not yet managed to re-grow our Dutch products. Fewer operators were granted an online gaming license. Compensated with the growth coming from other European markets. 15
Slide 16: Financial Details
Financial Details Investor Presentation Q2 2022 Investor Presentation Q2 2022
Slide 17: Group: Revenue and NDC development
Group Revenue development NDC development Group Revenue Development Group Revenue Development 45 000 8 000 39 632 7 000 6 200 6 448 7,200 7,003 6 540 740 000 000 6 200 6 448 6 540 7 000 6,448 6,540 +16% YoY 33 538 35 134 6,200 5 579 35 000 5 579 6 000 6 000 31 787 32 328 6 000 5,579 29 448 5 000 530
Slide 18: Group: Revenue Bridge vs Q2-2021
Group Strategic decisions implemented since 2021 to diversify the Company’s revenues and risk Revenue Bridge pro le is bearing fruit as the Company shows revenue growth in absolute and organic terms. vs Q2-2021 Year-on-year growth in revenue in Q2-22 of 16% is explained below, where Poker and SaaS (
Slide 19: Group: Cost Bridge vs Q1-2022
Group Q2-2022 operating expenses have increased compared to Q1-2022. The increase is driven by the increase in payout costs to sub-af liates in SaaS Network model and investments in growth initiatives, re ected in Other Cost Bridge external costs. These increases were partly set-off by decrease of E
Slide 20: Group: Adjusted EBITDA development
Group Adjusted EBITDA development 2 000 1 802 1 781 Investments in growth initiatives and the 1 574 +20% YoY execution of the Ef ciency plan are delivering 1 500 results as Group’s EBITDA in Q2-2022 increasing 1 500 1 258 by 20% year-on-year to EUR 1 802 thousand, 1 023 1 062 driven by revenue growt
Slide 21: iGaming Affiliation: Revenue and NDC development
1 500 1 000 500iGaming Af liation - Revenue Q4-20 development Q1-21 Q2-21 Q3-21 Q4-21 NDC development Casino Poker Sports Betting Other 25 000 3 500 20 732 3 199 2 962 2 968 20 000 18 763 3 000 18 178 ! 2 715 2 700 ! 15 268 2 500 15 000 12 355 2 000 10 000 1 500 1 000 5 000 500 - - Q2-21 Q3-21 Q4-21
Slide 22: iGaming Affiliation: Revenue Splits
iGaming Af liation Revenue Splits 13% (17%) 41% (46%) Other Revenue share Revenue 27% (22%) Revenue 15% (17%) North America Model Other by Market 32% (32%) 71% (66%) CPA Europe The revenue share represented 41% of total af liation revenues (or 57% of Europe continues to be our biggest success story,
Slide 23: iGaming Affiliation: EBITDA and Cost Base
iGaming Af liation Adjusted EBITDA develop. Adjusted Cost Base develop. 1 600 1 455 1 480 1 488 2 500 1 400 2 000 1 212 1 200 2 000 1 009 1 000 1 500 1 500 1 512 982 1 236 1 500 800 11 512 297 982 1 236 1 000 982 1 297 600 1 000 400 500 500 726 726 200 669 600 547 600 549 547 505 549 - - - Q1-21 Q2-
Slide 24: SaaS: Revenue and NDC development
SaaS Revenue development NDC development 25 000 4 500 21 454 3 840 4 035 4 001 4 000 3 733 20 000 3 238 17 093 17 060 3 500 14 775 14 402 3 000 15 000 2 500 2 000 10 000 1 500 1 000 5 000 500 - - Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 SaaS segment revenues have stabilised just o
Slide 25: SaaS: Adjusted EBITDA and RGU development
SaaS Adjusted EBITDA development RGU development 450 422 600 540 508 393 398 401 500 400 380 400 350 287 271 300 247 200 300 100 - 250 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 The SaaS segment continued to show high EBITDA results, increasing by 88% year- The number of RGUs (Reven
Slide 26: Financing and Cash Flow
Financing and Cash Flow Gross Debt Net Debt / Adjusted EBITDA 22 000 21 517 4,0 20 847 3,5 21 000 20 014 3,0 20 000 19 255 2,5 19 000 2,0 18 304 3,5 3,3 3,3 1,5 3,0 2,9 18 000 1,0 17 000 0,5 16 000 - Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Acroud's business model enables fast del
Slide 27: Cash Flow Development
EUR ’000 Q2’22 Q2’21 YTD22 YTD21 EBITDA 1 802 1 159 4 050 2 599 Non cash items 36 30 (410) (354) Change in NWC (298) 776 (504) (268) Tax paid (50) - (161) - Operating CF 1 490 1 965 2 975 1 977 CF from investments (439) (2 532) (291) (4 212) CF from nancing activities (2 397) (998) (3 640) (1 983) T
Slide 28: Closing Comments and Q&A
Closing Comments and Q&A 28
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