Slide 1: 4th Quarter Results 2023
Cyviz February 8th, 2024 4th Quarter Results 2023
Slide 2: Today's Agenda and Presenters
Today’s Agenda and Presenters Q4’23 in brief Performance 2020-2023 Espen Gylvik Business highlights CEO Q4 and YTD financials Outlook Karl Peter Gombrii Q&A CFO Agenda 2
Slide 3: All-time high order intake and a strong year-end for revenue and EBITDA
All-time high order intake and a strong year-end for revenue and EBITDA Q4’23 in brief Revenue of NOK 168 Gross profit of NOK 88.3 EBITDA of NOK 20.1 Order intake of NOK 383.5 million in Q4, down 6.6% million equivalent to million in Q4, up NOK 2.5 million, up 169% compared compared to last year. 52
Slide 4: Cyviz Group: Rolling 12-months trend 2020-2023
ROLLING 12-MONTHS TREND 2020-2023 Cyviz Group ORDER INTAKE (MNOK) GROSS PROFIT (MNOK) EBITDA (MNOK) +29% +31% +208% 757 289 36.6 280 282 30.0 27.9 257 25.4 626 632 589 561 220 517 9.0 435 445 185 402 342 156 -2.6 -1.9 307 142 147 -6.5 238 -10.8 122 122 -15.5 -14.8 179 102 100 -25.5 -27.8 Q4 Q1 Q2 Q3
Slide 5: Business Highlights
Business Highlights
Slide 6: Business Highlights Q4
Business USD 0.9m USD 0.7m USD 2.4m Q4 New advanced meeting First operation center with a Control room & operations Highlights room with an existing Fortune 500 customer large energy customer in Middle East center for energy customer in the Middle East SIGNIFICANT USD 0.8m USD 0.7m USD 1.9m USD 23.4
Slide 7: Business Highlights FY
Business USD 6.4m 3 deals for delivery of high-end meeting USD 5.3m Refresh and upgrades on 9 USD 2.8m Control room & operations Highlights FY rooms, board rooms and collaboration spaces to energy customer different sites in the US and UK for Fortune 500 customer center for energy customer in the Mi
Slide 8: Q4 & Full-Year Financials
Q4 & Full-Year Financials 8
Slide 9: Financial highlights
(all figures in NOK million) -6.6% Revenues Financial 180 160 168 137 • 6,6% decline from Q4 2022 120 116 120 100 • Rolling 12-months trend at NOK 585 highlights 69 million versus NOK 486 million in Q4 2022 (+21%) REVENUES Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Gross profit +8.4% • 52
Slide 10: Full-year results 2023
(all figures in NOK million) +20% Revenues Full-year 585 486 • NOK 99 million revenue growth (+20%) 323 217 • CAGR 39% from 2020 results 2023 REVENUES FY-20 FY-21 FY-22 FY-23 Gross profit +31% • NOK 69 million growth (+31%) 289 • Gross margin 49.3% vs 45.3% last year 220 • CAGR 42% from 2020 142 102
Slide 11: Operating cash flow
Operating cash flow Q4 Operating 6.2 25.1 Key drivers Q4 cash flow • Operating profit of NOK 14.1 million -2.9 driven by positive EBITDA of NOK 20.1 million • Short-term increase in AR with impact of - 5.4 3.1m. 9.4 • Increase in AP of NOK 5.4 million • Decrease in inventories of NOK 10 million -3.1
Slide 12: Solid February cash headroom anticipated
Solid February • Positive Free Cash Flow of NOK 17.8 million in Q4 and reduced draw on RCF vs Q3 • RCF limit increased from NOK 49.5 million to NOK 60.0 million cash headroom • Confirmed payment of major receivable next week anticipated • Anticipate to finalize a USD 3.5 million Letter of Credit wit
Slide 13: Seasonal bookings trends 2020-2023
Seasonal bookings trends 2020-2023 • Most of the booking growth and build-up of backlog over time has come in the 2H • This trend is likely going to continue into 2024 • Trend exacerbated by larger-than-usual order intake in Q4 2023 281 476 757 2022 238 351 588 2021 195 207 402 1H 2020 68 112 180 2H
Slide 14: Outlook
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Slide 15: Profitable growth driven by growing core business, new products and services, and cost optimization
Outlook Profitable growth driven by growing core business, new products and services, and cost optimization Profitable growth 1 Increased focus on profitability through cost optimization, new services and continued revenue growth. Maintaining the medium-term 15-20% EBITDA-margin Growing demand for a
Slide 16: Q&A
Q&A