Logo Yazilim Sanayi Ve Ticaret A.s. · BIST:LOGO
Logo Yazilim Sanayi Ve Ticaret A.s — Logo Yazılım Sanayi ve Ticaret A.Ş. — Non-Deal Roadshow (May 2025)
34 slides from Logo Yazilim Sanayi Ve Ticaret A.s's roadshow presentation, May 21, 2025
Slide 1: Wood&Co. Roadshow Investor Presentation Stockholm
Wood&Co. Roadshow Investor Presentation Stockholm Gülnur Anlaş CFO Canan Şenkut Investor Relations & Sustainability Director May 21st, 2025
Slide 2: Investor Presentation
logo Investor Presentation
Slide 3: Disclaimer
Disclaimer With Capital Markets Board (CMB) of Türkiye’s bulletin dated 28.12.2023 numbered 2023/81, CMB announced that issuers and capital market institutions shall prepare their annual financial statements ending on 31.12.2023 or later, in accordance with IAS29 inflationary accounting provisions.
Slide 4: Logo at a glance: Türkiye's long standing Enterprise Application Software leader
Logo at a glance: Türkiye’s long standing Enterprise Application Software leader Enterprise Subsidiary in Products: LocalApplication leader in Romania and ERP, HR and Türkiye Software (EAS) JV in India Payroll, CRM, WMS Company 11% 82% 59% 97.4 mn USD USD IFRS Recurring SaaS 2024 IFRS revenue* CAGR
Slide 5: Key investment highlights
Key investment highlights Strong growth Defensive amidst macro volatility High profitability Leading ERP provider in Türkiye, #1 in SME segment Successful SaaS Wide and high-performer transition distribution network / 1.000+ BPs High R&D capacity, Extensive solutions & latest technology services sui
Slide 6: Logo success journey: 40 years innovation, entrepreneurial DNA and sustainable profitable growth
Logo success journey: 40 years innovation, entrepreneurial DNA and sustainable profitable growth 1980s-1990s 2000s 2010s 2020s ✓ 1984; establishment ✓ 2000; First-ever software ✓ Local acquisitions; Coretech ✓ Specialized acquisitions; company IPO in Türkiye (2011), Netsis (2013), WorldBI Peoplise (
Slide 7: Solutions and services
Solutions and services We provide software solutions and services to companies in all sizes ERP eServices and fintech Enterprise resource e-Invoice, e-Archive invoice, e-Ledger, e- planning self emp. Invoice Online bank statement, Money transfer (PISP: Payment Initiation Service HR and Payroll Provi
Slide 8: Shaping the future path with a strong SaaS footprint
Shaping the future path with a strong SaaS footprint eService SaaS and fintech platform SaaS for retail SaaS for talent recruitment, onboarding and engagement 220,000+ 137 customers 168 customers customers 8,900+ user locations 30 mio USD ARR 4.9 mio USD ARR 1.2 mio USD ARR Subscription SaaS for mic
Slide 9: Turkish EAS market and Logo market share
Turkish EAS market and Logo market share Multiple secular drivers for further EAS adoption Turkish EAS market growth expectation* ($mn) CAGR 6.4% Others; 26% Logo; 26% 450 420 392 331 343 366 2021* Microsoft; 5% 2021 2022E 2023E 2024E 2025E 2026E SAP; 43% SMEs lead software market growth Government
Slide 10: Logo market positioning: Longstanding SME leadership
Logo market positioning: Longstanding SME leadership with products serving the mission critical need across the lifecycle Employees #Firms Positioning Competitors Large Volumes Revenues (500+) 1.5k 1 Medium (100–499) 12.3k 2 Logo’s highest revenue contribution Small (10–99) 300k Logo’s highest 3 vol
Slide 11: Logo Türkiye sales cycle
Logo Türkiye sales cycle Partner 1 Customers Partner 2 • User increments R&D Product Initial Sales Following Marketing Sales (to customers) • Modules Development Sales • 3rd party Cross - Sales • HR / CRM / BI / WMS / BPM Support Logo Coin • e-Services (e-invoices etc.) Membership • LEM Services Inv
Slide 12: Our servitization strategy
Our servitization strategy Subscription Subscription Subscription Subscription Web enabled Cloud 2024 2026e 10.300+ 36.000+ Small segment Small segment ERP customers ERP customers Sales model LEM Annual license maintenance Cloud ERP On-prem One-time license 2024 2026e One-time 1,400+ 4.000+ On-prem
Slide 13: eService and fintech platform
eService and fintech platform Leading player in e-government solutions Leveraging tech infrastructure and big data with 220,000+ customers to provide embedded finance services Open banking platform Logo ERP Other ERPs & software • Online bank statement solutions All major • Money transfer (PISP: Pay
Slide 14: Strong growth: double digit USD based growth
Strong growth: double digit USD based growth Türkiye Türkiye Invoiced revenues mn $ IFRS revenues mn $ CAGR 11% CAGR 11% CAGR 10% CAGR 9% 150 127 122 96 97 74 55 61 66 68 56 60 53 51 48 51 47 47 47 54 50 45 49 51 41 37 Figures do not include IAS29 adjustments. 13
Slide 15: Dividend track record
Dividend track record 2021 2022 2023 2024 Pay-out ratio 34% 36% 35%* 64%* Yield** 2,20% 2,85% 4,51% 4,25% Gross amount 6,9 $ mn 8,0 $ mn 13,6 $ mn 13,2 $ mn 90 TL mn 150 TL mn 400 TL mn 500 TL mn 300% bonus issue www.logo.com.tr 14 *Based on statutory records. **Based on PDP disclosure date.
Slide 16: Share buy-back programs
Share buy-back programs 2012- 2023- 2024- 2023 2024 2027 4,90% 4,90% -> 6,20% 1,26% 10,6 $ mn 3,4 $ mn Max fund 108,6 TL mn 600 TL mn 2012 - 2015 ~17,4 $ mn 12.July.2018 - 30.Dec.2021 17.Nov.2023 -> 17.Nov.2024 18.Dec.2024-> 18.Dec.2027 30.Dec.2021 - 17.Nov.2023 5% share cancellation 6,20% -> 1,20%
Slide 17: Shareholder structure
Shareholder structure Logo Teknoloji Freefloat ve Yatırım A.Ş. 64.60%** 35.40%* Logo Yazılım San. ve Tic. A.Ş. Logo Infosoft Logo Ödeme ELBA HR Total Soft S.A. Business Technology Hizmetleri (Peoplise) 80%*** Private Ltd. (Logo Payment) 100% 75.93% 100% ABS SRL ABS Financial Logo Financial 80% Servi
Slide 18: Our ESG performance
Our ESG performance Refinitiv CDP Climate Corporate ESG score A- Score B- Governance rating 9.5/10.0 BİST BİST Sustainability Corporate Index Governance Index inclusion in 2017 inclusion in 2009 www.logo.com.tr 17
Slide 19: Q125 results
A) logo Q125 results
Slide 20: A strong opening quarter
A strong opening quarter Logo Türkiye Consolidated (TL mn) y/y • Profitability improved, driven by strong real revenue growth and +5% +13% +33% growth enhanced operational efficiency. 1,046 • EBITDA increased by 33%, delivering a robust margin of 40% in Q1’25 925 (vs. 34% in Q124). 730 671 704 • Net
Slide 21: IAS29 impact on Balance Sheet
IAS29 impact on Balance Sheet Non-monetary assets and liabilities, and equity is indexed with inflation Asset Liabilities Current Assets Short and long-term Liabilities +20,789,090 TL -197,558,344 TL Major impact is from Major impact is from contract prepaid expenses liabilities (LEM, eService coins
Slide 22: Robust e-Services growth
Robust e-Services growth Leading player in e-government solutions; e-Invoice, e-Archive, e-Ledger, e-Dispatch with 220K customers Non-Logo customer # of customers acquisition reached MRR MRR up by 50% y/y (‘000) from $1.67 mn to 34,4K in Q125 USD mn $2.50 mn CAGR: 46% 24% y/y 2.6 2.4 220 2.2 211 2.0
Slide 23: Fintech platform unlocking new opportunities
Fintech platform unlocking new opportunities Leveraging tech infrastructure and big data to provide embedded finance services enabling further growth Open banking platform • Online bank statement • Money transfer (PISP: Payment Initiation Service Provider) • POS (Point of Sales) transaction transfer
Slide 24: Logo İşbaşı's continued stellar performance
Logo İşbaşı’s continued stellar performance Offering basic accounting software and e-invoicing services MRR MRR up by 101% y/y from $123K to USD ‘000 $247K 300 250 200 150 100 50 0 • MRR at $247K, up from $123K in Mar. 24 Nov-23 Nov-24 Feb-23 Sep-23 Feb-24 Sep-24 Jan-23 Apr-23 Jul-23 Jan-24 Apr-24 J
Slide 25: Logo Diva Retail
Logo Diva Retail SaaS solutions for reliable and sustainable retail operations: a new generation CX in retail MRR USD mn 0.45 0.40 0.35 0.30 0.25 0.20 0.15 0.10 0.05 0.00 • Total customers is at 137, with 8,9K user locations • ARPU** is at $553, up by 46% from $380 ARR at March 2024 USD mn 26% y/y C
Slide 26: Peoplise
Peoplise SaaS solution for recruitment, assessment, on-boarding and talent engagement needs of enterprises MRR USD ‘000 120 100 80 60 40 20 0 • Total customers is at 168 • ARPU reached $7.2K, up by 29% from $5,6K at March 2024 ARR USD ‘000 CAGR: 26% 20% y/y 1,301 1,202 1,000 789 830 654 Dec-21 Dec-2
Slide 27: Logo CaptainBiz: SaaS solution for MicroSMEs in India
Logo CaptainBiz: SaaS solution for MicroSMEs in India Pre-accounting and e-invoicing services with in-built GSTN compliance MRR ARR USD ‘000 USD ‘000 60 58% y/y 50 40 602 545 30 20 336 380 10 0 Jun-24 Mar.'25 Sep-23 Feb-24 May-24 Aug-24 Sep-24 Mar-24 Oct-23 Dec-23 Oct-24 Dec-24 Jan.'25 Jan-24 Jul-24
Slide 28: Recurring Revenue Growth Ensuring Predictability
Recurring Revenue Growth Ensuring Predictability Sustainable revenue growth supported by SaaS transition Recurring Invoices Recurring Invoices/Invoices TL mn % Strong growth y/y -14% -17% +34% -16% +57% with transition growth to subscription SaaS model in the small ERP 33% growth y/y segment 238 178
Slide 29: Operating Expenses
Operating Expenses Türkiye TL mn R&D expenses – as % of IFRS Revenues S&M expenses – as % of IFRS Revenues 40% 38% 26% 25% 1,046 1,046 925 925 8% 7% 374 402 243 261 y/y y/y increase increase Q124 Q125 Q124 Q125 Total Revenue R&D Expense Total Revenue S&M Expense G&A expenses – as % of IFRS Revenues
Slide 30: Effective financial management and strong balance sheet
Effective financial management and strong balance sheet Cash to be received from EPS* (LTM) Net cash Total Soft share sale High liquidity TL TL mn End-2025: €2.2 mn TL mn 11% y/y End-2027: €12.9 mn -8% y/y 300% y/y growth growth 684 12.4 617 780 716 51 Financial 291 Investments (ST<) 3.1 Cash and
Slide 31: Appendix
Appendix
Slide 32: 2025 Guidance
2025 Guidance Logo Türkiye expectations: • 7% invoiced revenue growth w/ IAS29 adj. • 11% IFRS revenue growth w/ IAS29 adj. • EBITDA margin of ~ 35% w/ IAS29 adj. Total Soft expectations*: • 2% Euro revenue growth • 23% EBITDA margin Economic indicator expectations: • 2025 year-end inflation is 35%
Slide 33: Total Soft
Total Soft Total Soft figures w/o IAS 29 Total Soft figures (USD mn) TL mn y/y +34% +28% +79% +466% y/y +53% growth +15% +10% +384% growth 404 300 11 10 153 119 112 4 4 62 59 2 3 10 2 0 Revenue Gross Profit EBITDA Net Income Revenue Gross Profit EBITDA Net Income Q124 Q125 Q124 Q125 22 • Revenues re
Slide 34: Thank you
Thank you Logo Investor Relations Team T: +90 262 679 8000 E: investor@logo.com.tr
Logo Yazılım Sanayi ve Ticaret A.Ş. — Non-Deal Roadshow (May 2025) on 6ix