Eezy Oyj · OMXHEX:EEZY
Eezy Oyj — Q4 2020 Earnings Presentation
24 slides from Eezy Oyj's earnings presentation, Feb 18, 2021
Slide 1: Financial Statements Bulletin Q4/2020
FINANCIAL STATEMENTS BULLETIN Q4/2020 Sami Asikainen 1 18 February 2021 Eezy Plc 2021
Slide 2: Welcome
Welcome 2 18 February 2021 Eezy Plc 2021
Slide 3: October–December in brief
October–December in brief The second wave of COVID-19 accelerated and restrictions were tightened. Significant reduction in volume, mainly due to HoReCa. Relative profitability improved. Company acquisitions related to professional services strengthened our offering. Reducing non-core activities, di
Slide 4: Clearly profitable quarter
Cleary profitable quarter 60 Revenue Q1–Q4 40 Q4/2020 Q4/2019 20 Revenue €43.4 m €65.6 m 0 Q1 Q2 Q3 Q4 EBITDA €3.4 m €4.2 m EBIT Q1–Q4 4 EBITDA 7.8% 6.4% 3 margin 2 EBIT €1.5 m €2.3 m 1 0 -1 Q1 Q2 Q3 Q4 4 18 February Eezy Plc 2021 2021
Slide 5: HR Service market, revenue inquiry
HR Service market, revenue inquiry, m € Revenue Franchise revenue €37.5 m €1.7 m Change Change -37% +3% Year in total €173.4 m €6.1 m +16% -22 % HPL Top 20, revenue inquiry Change Market in total Revenue Q4 -18 % €0.7 m -15% 2020 -17 % Year in total €2.7 m -15% HoReCa Q4 -72 % 5 18 February 2021 Eez
Slide 6: Professional services
Professional services Revenue €3.5 m Change +12% Strategy and integration work ongoing. 6 18 February 2021 Eezy Plc 2021
Slide 7: 2020 – top performance in historically difficult circumstances
2020 – top performance in historically difficult circumstances The COVID-19 pandemic affected all business operations. Quick and appropriate reaction. EUR 5 million synergy targets achieved. Strong EBITDA and cash position. Growth strategy implementation as planned, transfer to main list. 7 18 Febru
Slide 8: Key figures
Key figures 60 Revenue Q1–Q4 2020 2019 40 Revenue €190.6 m €169.8 m 20 0 EBITDA €13.5 m €12.6 m Q1 Q2 Q3 Q4 EBITDA margin 7.1% 7.4% EBIT Q1–Q4 Depreciation and €-7.9 m €-4.6 m 4 amortisation 3 EBIT €5.6 m €8 m 2 1 Net debt/Adjusted 2.9 x 2.7 x 0 EBITDA -1 Q1 Q2 Q3 Q4 8 18 February Eezy Plc 2021 2021
Slide 9: Looking forward – stronger than before
Looking forward – stronger than before Relative profitability EBITDA 7.8% New level of efficiency, permanent cost savings €5 m Strong cash position €15.4 m Strengthening the basis for professional services. Streamlining the organisation structure. Eezy Plc 2021
Slide 10: Financial information 2020
Financial information 2020 10 18 February 2021 Eezy Plc 2021
Slide 11: Income statement
Income statement 1 October– 1 October–31 31 December December EUR thousand 2020 2019 2020 2019 Revenue 43,421 65,634 190,637 169,784 Other operating income 151 118 1,330 653 Share of result of equity accounted investments - 8 -1 -21 • Q4: Other operating expenses include a write-down of Materials an
Slide 12: Balance sheet – strong cash position
Balance sheet – strong cash position 31 December 31 December EUR thousand 2020 2019 ASSETS • Goodwill and intangible assets Goodwill 127,938 125,757 totalled approximately EUR 158 million. Intangible assets 29,731 32,169 Tangible assets 6,984 6,780 Long-term receivables and investments 2,187 2,989 N
Slide 13: Balance sheet – key figures
Balance sheet – key figures Balance sheet – key figures 12/2020 12/2019 Net debt 42,424 56,513 Net debt excluding IFRS 16 36,440 51,887 Net debt/Adjusted EBITDA 2.9 x 2.7 x Gearing, per cent 40.9% 55.5% Equity ratio, per cent 50.6% 48.6% EUR 10 million overdraft limit unused on 31 December 2020. 13
Slide 14: Liquidity has been the priority during the COVID-19 pandemic
Liquidity has been the priority during the COVID-19 pandemic Significant items in the cash flow statement • In addition to the strong operating cash flow, we have maintained a strong cash position through the utilisation of COVID-19 concessions related to pensions and taxes, which is EUR thousand 1–
Slide 15: Largest shareholders 31 December 2020
Largest shareholders 31 December 2020 Shareholder Shares % 1. Noho Partners Oyj 7,520,910 30.27 2. Sentica Buyout V Ky 6,105,458 24.57 3. Meissa-Capital Oy 3,223,071 12.97 4. Asikainen Sami 404,350 1.63 5. Evli Finnish Small Cap 392,937 1.58 6. Taaleritehdas Mikro Markka Osake 380,000 1.53 7. Ilmari
Slide 16: Annual General Meeting and dividend
Annual General Meeting and dividend • The Annual General Meeting is planned to be held on 13 April 2021. • The invitation will be published later. The Board of Directors proposes that • a dividend of EUR 0.10/share be paid in the spring and • the Board of Directors be authorised to decide on a divid
Slide 17: Towards future successes
Towards future successes 17 18 February 2021 Eezy Plc 2021
Slide 18: Theme for 2021: back to the organic growth path
Theme for 2021: back to the organic growth path Normal Growth Investments markets We seek growth in all Ability to invest in We expect markets to of our business service development return to normal operations. and company during this year. acquisitions. Uncertainty related to the COVID-19 pandemic
Slide 19: Strategy in 2021
Strategy in 2021 Winning Growth Successful organisation encounters Strengthening our Back to the organic position in every High-quality growth path – strong business area encounters and easy internal cooperation solutions and efficiency
Slide 20: We are a growth company in growing markets
We are a growth company in growing markets Development of revenue in the Eezy’s revenue employment activities industry 250 4 200 3 150 EUR billion 2 100 1 50 0 0 2015 2016 2017 2018 2019 2020 2009-2019 Source: Statistics Finland, revenue development in the employment activities FAS IFRS industry 200
Slide 21: Eezy's roadmap
€400 Eezy’s roadmap Company m acquisitions Organic growth New services Recovery from COVID-19 €191 m Scalability EBIT 3% Digitalisation EBIT 10% Services with high profitability 21 18 February 2021 Eezy Plc 2021
Slide 22: Strong cash flow enables growth investments
Strong cash flow enables growth investments Investments in digitalisation and Loan repayments successful €4 m/year encounters (€2.1 m/2020) Cash flow Dividend (policy: 30–50% of Company profit) acquisitions • Business operations tie up some working capital, but investments are related to service dev
Slide 23: We are Eezy
We are Eezy Mission Vision Methods We are the most We create Courage significant reformer successful Professionalism of working life in work experiences Positivity Finland 23 18 February 2021 Eezy Plc 2021
Slide 24: Thank you
Thank you Sami Asikainen Hannu Nyman CEO CFO sami.asikainen@eezy.fi hannu.nyman@eezy.fi +358 (0)40 700 9915 +358 (0)50 306 9913 24 18 February 2021 Eezy Plc 2021