Acroud Ab · OMXSTO:ACROUD
Acroud Ab — Q4 2022 Earnings Presentation
29 slides from Acroud Ab's earnings presentation, Feb 16, 2023
Slide 1: Q4 2022 Interim Report: A Time of Growth
Q4 2022 I N T E R I M R E P O R T A Time of Growth 1 1
Slide 2: Agenda
Q4 2022 I N T E R I M R E P O R T 1. Q4 Highlights 2. Q4 Key Figures 3. Acroud Media Ltd 4. Financial Targets 5. About Acroud 6. Financial Details 7. Q&A Robert Andersson CEO
Slide 3: Q4 Highlights
Q4 Highlights 134% 53% 160% Adj.EBITA REVENUE NDC Investor Presentation Q4 2022 3
Slide 4: Q4 Key Figures
Q4 Key Figures • Revenue amounted to . . . . . . . . . . . . . . . . . . . . . . . EUR 10 019 (6 540) • Adj. EBITDA amounted to . . . . . . . . . . . . . . . . . . . EUR .. 2 492 (1 062) • Profit after tax was . . . . . . . . . . . . . . . . . . . . . . . . . . EUR -20 265 (-356) • Adjusted profit a
Slide 5: Key Figures 2022
Key Figures 2022 • Revenue amounted to . . . . . . . . . . . . . . . . . . . . . EUR ... 30 905 (24 767) • Adj. EBITDA amounted to . . . . . . . . . . . . . . . . . . . EUR 7 573 (5 395) • Profit after tax was . . . . . . . . . . . . . . . . . . . . . . . . . . . EUR -18 421 (719) • Adjusted profit
Slide 6: Q4 Summary
Q4 Summary • First quarter with our new Media Business • Optimizing! New Foundation and Management. • Strategy to diversifying revenue streams and risks was right. • Now 68% sports book revenue on predominantly rev-share • Successful acquisitions promising strong growth 2023. • New era - right on tr
Slide 7: Acquisition of Acroud Media Ltd completed
AGILE m o re o p p o r t u n i s t i c Acquisition of Acroud Media Ltd DIVERSIFIED l e s s d e p en d e n t o n SE O completed GROWTH s t ab l e re v en u e s t re a m Investor Presentation Q4 2022
Slide 8: Year-on-Year Growth
Ye a r- o n - Ye a r Gro w t h +40% adj EBITDA Compared to Financial Target D e l i v ered 7.89 vs 8 2022 Investor Presentation Q4 2022
Slide 9: PLUS Media Business
y ear- o n - y e a r O R GAN I C g ro w t h 20% 2023 Financial Target PLUS Media Business Investor Presentation Q4 2022
Slide 10: Group Revenue Development
Group Revenue Development 12000 10019 10000 8000 7003 7200 6540 6683 6448 6200 6000 5579 4000 2000 0 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 iGaming Affiliation segmentet SaaS segmentet Investor Presentation Q4 2022
Slide 11: House of brands
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Slide 12: Our Diverse Offer
PPC + Innovative SEO Media inhouse Continued development in our tier 1, 2 and 3 GEOs SEO strategy is paying off at CPA/Hybrid models Our Diverse Software & Technology Offer Advertising Media House Networks Partnerships Building strong relationships with our contact us for more info partners via larg
Slide 13: Financial Details
Financial Details Investor Presentation Q4 2022 13
Slide 14: Group Revenue and NDC development
Group Revenue development NDC development 12000 100000 10019 84086 10000 80000 8000 7003 7200 6683 60000 6448 6540 6200 6000 5579 39632 40000 33538 35134 33792 31787 32328 4000 29448 20000 2000 0 0 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 iGamin
Slide 15: Group Revenue Bridge vs Q4-2021
Group Year-on-year growth in revenue in Q4-22 of 53% is driven by Revenue Bridge growth in Sports betting revenue mainly arising from the newly acquired entity and Poker products in the iGaming affiliation segment. There was also a slight increase in SaaS vs Q4-2021 subscription revenues and other r
Slide 16: Group Cost Bridge vs Q3-2022
Group Q4-2022 operating expenses have increased compared to Q3-2022. The increase is driven by the increase in other external costs and personnel costs (driven mostly by the Cost Bridge new acquisition) and also lower capitalized work. The cost of payouts to sub-affiliates in SaaS Network model have
Slide 17: Group Adjusted EBITDA development
Group Adjusted EBITDA development The Group’s adjusted EBITDA in Q4-2022 has increased by 135% year-on-year to EUR 2 492 thousand, driven 2492 mainly by the Media acquisition. 2500 During the fourth quarter, the Affiliation business operated at an EBITDA margin (excluding one-offs) of 37% while the
Slide 18: iGaming Affiliation Revenue Development
iGaming Affilation 8000 Revenue 7000 6340 Development 6000 5000 iGaming Affiliation revenue in Q4 increased to EUR 6 340 (2 700) thousand, representing an increase of 135% year-on-year and 109% quarter-on-quarter. Revenue growth is driven purely by the latest 4000 acquisition. Excluding the acquisit
Slide 19: iGaming Affiliation Revenue Model
iGaming Affilation 74% (38%) 32% (82%) Revenue share SEO Revenue Revenue 12% (31%) 9% (16%) CPA by Affiliation Social- and Model Community-based 13% (32%) Other type 59% (2%) Paid Media The revenue share represented 74% of total affiliation revenues whereas During Q4-2022, we continued to diversify r
Slide 20: iGaming Affiliation NDCs Development
iGaming Affilation 80000 70000 68601 NDCs 60000 50000 Development 40000 The iGaming segment has delivered a high number of New 30000 Depositing Customers (NDC) - reaching 68 601 NDCs in the fourth quarter compared with 15 268 the corresponding period 20732 21375 20000 18763 the previous year. With t
Slide 21: iGaming Affiliation EBITA Development
iGaming Affilation 2500 2346 2000 EBITA 1480 1488 Development 1500 1110 1009 Adjusted EBITDA in the iGaming Affiliation segment in 1000 Q4-2022 amounted to EUR2 346, representing 133% year-on- year growth. 500 The iGaming affiliation segment operated with an EBITDA margin of 37% during the fourth qu
Slide 22: iGaming Affiliation Cost Base Development
iGaming Affilation Adjusted Cost Base Development iGaming Affiliation Segment 4000 Adj. 3500 Cost Base 3000 2500 Development 2000 3431 Personnel costs in iGaming affiliation has increased by 27% 1500 quarter-on-quarter. The increase is driven by the Media 1512 1297 1500 1575 acquisition. The increase
Slide 23: SaaS Segment Revenue Development
SaaS Segment Revenue Development 5000 4035 4001 The SaaS segment registered revenues of EUR 3 679 thousand, 4000 3840 3654 3679 resulting in a decline of 4% year-on-year. 3000 Revenues derived from subscription-model revenues increased by 25% compared to Q4-21, amounting to EUR 290 (232) 2000 thousa
Slide 24: SaaS Segment Adjusted EBITDA Development
SaaS Segment 600 540 539 508 500 Adj. 400 420 EBITDA 300 247 Development 200 100 EBITDA in SaaS business increased by 70% when compared to same period last year and totaled EUR 420 (247) thousand. 0 This corresponds to an EBITDA margin of 11% (6%). Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Investor Presentation
Slide 25: SaaS Segment RGU Development
SaaS Segment 500 RGU 422 419 398 401 395 400 Development 300 200 The number of RGUs (Revenue Generating Units) in SaaS in the fourth quarter amounted to 419 (398). 100 RGUs keep on increasing both in Subscription-model (9% Q-o- Q and 14% Y-o-Y) as well as in Network-Model’s RGUs (5% Q- 0 o-Q and 2%
Slide 26: Financing & Cash Flow
Financing & Cash Flow Gross Debt Net Debt / Adjusted EBITDA 25000 3,50 3,30 21083 3,00 3,00 20949 3,00 20014 2,80 20000 19255 18304 2,50 2,50 15000 2,00 1,50 10000 1,00 5000 0,50 0 0 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Gross debt Net debt/Adjusted EBITDA Acroud's business mod
Slide 27: Cash Flow Development
EUR ’000 Q4’22 Q4’21 YTD22 YTD21 EBITDA 2 342 817 7 890 4 676 Non cash items 43 (56) (368) 4 Change in NWC (544) 21 (1 412) (307) Tax paid (303) (140) (514) (1 092) Operating CF 1 538 642 5 596 3 281 CF from investments (395) (701) (3 239) (5 264) CF from financing activities (601) (939) (2 260) (3
Slide 28: Closing Comments and Q&A
Closing Comments and Q&A 28
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