Logo Yazilim Sanayi Ve Ticaret A.s. · BIST:LOGO

Logo Yazilim Sanayi Ve Ticaret A.s — Logo Yazılım Sanayi ve Ticaret A.Ş. — H1 2022 Earnings Presentation

22 slides from Logo Yazilim Sanayi Ve Ticaret A.s's earnings presentation, Aug 17, 2022

  1. Slide 1: H1 2022 Results Presentation

    H1 2022 Results Presentation Gülnur Anlaş Chief Financial Officer August 17th, 2022

  2. 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

  3. Slide 3: Solid performance continues in Q222

    Solid performance continues in Q222 Consolidated Revenues (TL mn) EBITDA (TL mn) Net Income (TL mn) 107% 97% 126% 368 43% 40% 45% 158 178 37% 147 80 65 Q221 Q222 Q221 Q222 Q221 Q222 • Strong revenue growth and solid operational profitability continued in Q2 despite macro uncertainties • Recurring re

  4. Slide 4: Strong results in H122

    Strong results in H122 Consolidated Revenues (TL mn) EBITDA (TL mn) Net Income (TL mn) 101% 101% 100% 43% 38% 637 271 239 43% 38% 317 135 120 H121 H122 H121 H122 H121 H122 • Revenues up by 101%, reaching 637 TL mn, with Turkey and Romania operations contributing 67% and 33% respectively • EBITDA up

  5. Slide 5: Effective financial management

    Effective financial management Consolidated Cash and Financial Investments (TL mn) Strong FCF – LTM (TL mn) 555 499 -10% 75% 295 118 262 67 259 237 H121 H122 2021 H122 Cash and cash eq. Financial Investment (ST&LT) EPS* growth (LTM) 111% 4.0 1.9 H121 H122 *Adjusted by 3.61% treasury shares (H121: 3.

  6. Slide 6: Strong performance in Turkey

    Strong performance in Turkey Logo Turkey-Revenues (TL mn) Logo Turkey-EBITDA (TL mn) Logo Turkey-Net Income (TL mn) 110% 102% 86% 95% 126% 113% 51% 52% 427 218 220 49% 53% 53% 49% 253 134 212 56% 125 112 49% 103 121 67 59 Q221 Q222 H121 H122 Q221 Q222 H121 H122 Q221 Q222 H121 H122 • Revenues in H1 i

  7. Slide 7: 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 117K customers # of customers ('000) eLogo invoiced revenues (TL mn) CAGR: 56% CAGR: 47% 24 64% 117 55% 95 24 71 23 56 37 194 10 32 134 18 109 10 1

  8. Slide 8: Logo İşbaşı: SaaS solution for MicroSME digitalization

    Logo İşbaşı: SaaS solution for MicroSME digitalization Offering basic accounting software and e-invoicing services # of users ('000) 44 45 46 48 37 40 43 User growth: 33 24 27 29 141% y/y 21 18 20 15 16 3 3 4 6 7 8 10 12 13 ARPU*: 333 TL 1 1 2 2 2 2 LTV/CAC**: 22 Aug.'20 Aug.'21 Dec.'21 Dec.'19 Dec.

  9. Slide 9: Solid performance at Total Soft

    Solid performance at Total Soft Total Soft–Revenues (TL mn) Total Soft–Gross profit (TL mn) Total Soft–EBITDA (TL mn) 101% 99% 90% 156% 130% 98% 45% 210 25% 94 53 46% 47% 29% 115 22% 105 46% 52 50 33 22% 23 57 26 13 Q221 Q222 H121 H122 Q221 Q222 H121 H122 Q221 Q222 H121 H122 Total Soft-Net Income (T

  10. Slide 10: Invoiced Revenue vs IFRS Revenue (Consolidated)

    Invoiced Revenue vs IFRS Revenue (Consolidated) Second Quarter Invoices & IFRS Revenues (TL mn) IFRS Revenues= 368 Invoices - Net Deferrals 343 Invoices • Q2 sales invoice growth was 93% y/y 178 177 • IFRS Revenue growth was 107%y/y in Q2 132 95 92 117 63 62 72 74 37 31 Q216 Q217 Q218 Q219 Q220 Q221

  11. Slide 11: Recurring Revenue Growth Ensuring Predictability

    Recurring Revenue Growth Ensuring Predictability Consolidated Recurring Invoices (TL mn) • LEM revenues increased by 83% y/y CAGR: 44% • Pay as you go revenues increased by 50% y/y 527 • Maintenance revenues increased by 108% y/y 81% with significant contribution from Total Soft 384 371 • Retail Saa

  12. Slide 12: Cost of Sales

    Cost of Sales Consolidated (TL mn) – As % of IFRS Revenue Total Soft (TL mn) – As % of IFRS Revenue 19% 20% 53% 55% 637 210 317 105 116 111% 130 56 108% 62 H121 H122 H121 H122 Revenue Cost of Sales Revenue Cost of Sales www.logo.com.tr 12

  13. Slide 13: Operating Expenses

    Operating Expenses OpEx (TL mn) – As % of IFRS Revenue R&D Expenses (TL mn) – As % of IFRS Revenue 50% 46% 23% 19% 637 637 317 290 317 158 84% 123 72 70% H121 H122 H121 H122 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 14% 1

  14. Slide 14: Dedicated Investment in Technology

    Dedicated Investment in Technology R&D Spending (TL mn) – As % of Invoices 300 33% 31% 35% 30% 30% 29% 250 27% 27% 30% 24% 200 232 25% 186 20% 150 146 15% 100 123 10% 99 94 50 77 5% 57 0 0% 2016 2017 2018 2019 2020 2021 H121 H122 R&D Spending (TLmn) - LHS R&D Spending/Invoices -RHS www.logo.com.tr 1

  15. Slide 15: Strong Balance Sheet

    Strong Balance Sheet Balance Sheet Highlights (TL mn) Working Capital (TL mn) 2021 H122 ∆ 44% 500 Cash & Cash Eq. 259.4 236.5 -9% 40% 36% Trade Receivables 332.8 326.3 -2% 33% 34% 31% 400 Tangible Assets 21.0 22.2 6% 28% 30% 27% Intangible Assets* 759.2 910.1 20% 23% 300 Other Assets 435.1 482.0 11%

  16. Slide 16: Revised Guidance

    Revised Guidance 2021 2022 revised guidance Invoiced Revenue (TL mn) +81% 483 1,574 1,050 40 254 19 867 594 IFRS Revenue (TL mn) +88% 483 35 1,445 262 767 930 490 15 EBITDA** (TL mn) +68% 352 150 481 198 96 -14 286 -34 Margins 40% 37% n.m. 37% 38% 31% n.m. 33% EBT (TL mn) +57% 425 71 -38 471 238 72

  17. Slide 17: Questions & Answers

    Questions & Answers

  18. Slide 18: Appendix

    Appendix

  19. Slide 19: ESG in numbers

    ESG in numbers + + + 1,315 43% 50% 35 Employees Women Women in Average age employees executive of employees management + + 27% 50% 9.28/10 100% R&D spending/ of Board is Corporate of e-waste invoiced independent Governance recycled in TR revenues Rating * All data is for 2021. Employee data is year-

  20. Slide 20: eLogo: e-services platform and leader in digital transformation

    eLogo: e-services platform and leader in digital transformation New communique’s details (January 22nd, 2022) BEFORE AFTER (eff. as of July 1st, 2022) Companies w/sales 5mio₺+, Companies w/sales 4mio₺+, e-invoice Specific sectors with no sales Companies in some sectors w/sales 1mio ₺+, threshold Spe

  21. Slide 21: Invoiced Revenue Growth and Breakdown

    Invoiced Revenue Growth and Breakdown 2016* 2017 2018 2019 2020 2021 4-yr-CAGR Invoiced revenues (TL mn) 175,8 259,1 333,0 460,1 617,7 848,6 35% One-time - TR 70,3 83,4 95,0 130,1 145,6 207,2 26% share in total 40% 32% 29% 28% 24% 24% One-time - RO 21,3 40,2 57,5 72,9 87,9 114,2 30% share in total 1

  22. Slide 22: 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

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