Webstep As · OSL:WSTEP
Webstep As — Q1 2023 Earnings Presentation
20 slides from Webstep As's earnings presentation, May 16, 2023
Slide 1: Q1 2023
Q1 2023 Save Asmervik, CEO Ida Amalie Oma, CFO z= ' YT 16 May 2023 - Oslo
Slide 2: Our agenda
Our agenda 01 02 03 04 Highlights Business Review Financial Review Outlook
Slide 3: Highlights from the quarter
Highlights from the quarter
Slide 4: Highlights
Revenues (LTM) Highlights ● Strong revenue growth ○ 277.2 MNOK (+19.0%) for the quarter ○ 932.6 MNOK (+33.0%) for the last twelve months ● Stable EBIT ○ EBIT of 25.2 MNOK (+5.6%) for the quarter EBIT (LTM) ○ EBIT partly affected by periodic shift in culture building activities compared to correspond
Slide 5: Business review
Business review
Slide 6: Organization and employees
Organization and employees ● Strong local presence ○ Close to the customer ○ Strategic partner ● Improving the Webstep employee work experience ○ Investing in our experts ○ Diverse project experiences ● Employee survey confirms a strong and proud culture ○ Employee Satisfactions- and Loyalty Index o
Slide 7: Financial review
Financial review yy
Slide 8: Key figures - Group
Key figures - Group Q1 Highlights Q1 Q1 Y/Y FY NOK million 2023 2022 change 2022 ● Strong revenue growth of 19% ○ Both segments Norway and Sweden contribute Revenues 277.2 233.0 19.0% 888.4 to a solid revenue growth for the quarter EBITDA 30.4 28.7 6.1% 76.2 ○ Solid revenues per FTE EBITDA margin 11.
Slide 9: Norway
Norway Revenue EBIT Employee 17.5%growth 9.4% margin 11.1% growth
Slide 10: Key figures - Norway
Key figures - Norway Q1 Q1 Y/Y FY Q1 Highlights NOK million 2023 2022 change 2022 Revenues 237.6 202.2 17.5% 761.6 ● Revenue growth of 35 MNOK (+17.5%) EBIT 22.4 20.9 7.3% 47.7 ○ Increased revenues mainly driven by higher number of consultants and hourly rates, although EBIT margin 9.4% 10.3% (0.9 pt
Slide 11: Sweden
Sweden Revenue EBIT Employee 28.3%growth 7.1% margin 24.4% growth
Slide 12: Key figures - Sweden
Key figures - Sweden Q1 Q1 Y/Y FY Q1 Highlights NOK million 2023 2022 change 2022 ● Strong revenue growth of 8.7 MNOK (+28.3%) Revenues 39.5 30.8 28.3% 126.9 ○ Swedish segment represents 14.3% of EBIT 2.8 3.0 (6.1%) 6.9 consolidated revenue for the quarter EBIT margin 7.1% 9.7% (2.6 pts) 5.5% Number
Slide 13: Outlook
Outlook
Slide 14: Outlook
Outlook Changing market Balanced growth Forward capacity Initiatives to EBIT target conditions increase profitability ● Long term trend of ● Long term target ● Headcount growth ● Expect to be ● Cost management digitalisation for EBIT above balanced against approximately 560 ● Strengthening continues
Slide 15: Questions?
Questions? Please contact us at ir@webstep.com
Slide 16: Appendix
Appendix
Slide 17: A diversified customer base
A diversified customer base Private Public 70% Sector 30% Sector 17
Slide 18: Cash flow and net debt
Cash flow and net debt 31 Mar NOK million 2023 Cash and cash equivalents* (76.8) Restricted cash 1.6 Debt to credit institutions 0.0 Net interest bearing debt (NIBD)** (75.2) NIBD/EBITDA (rolling 12 months) (0.9) NIBD/EBITDA (rolling 12 months) 0.1 Including IFRS 16 Lease liabilities ● Q1 free cash fl
Slide 19: Top 20 shareholders at 12 May 2023
Top 20 shareholders at 12 May 2023 19
Slide 20: Disclaimer
Disclaimer This Presentation includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. These statements and this Presentation are based on current expectations, estimates and projections abo