Webstep As · OSL:WSTEP
Webstep As — Q2 2024 Earnings Presentation
25 slides from Webstep As's earnings presentation, Aug 27, 2024
Slide 1: Q2 2024 Interim Results Presentation
Q2 2 2m \ Results Interim Presentation Kristine Lund, CEO Nina Stemshaug, Interim CFO Webstep ASA - 27 August 2024, Oslo WEBSTEP
Slide 2: Agenda
Agenda Highlights from the Financial Review quarter Organisation and Market update and projects outlook
Slide 3: Highlights from the quarter
Highlights from the quarter
Slide 4: Highlights
Highlights ● New CEO Kristine Lund in place from May ● Interim CFO Nina Stemshaug in place from end of July ● Further strengthening group management to drive growth and performance ○ Eva Johannesdottir appointed as new general manager for our Stavanger Office starting in October ○ ● Webstep AB sold to
Slide 5: Organisation and projects
Organisation and projects
Slide 6: Organisation and employees
Organisation and employees The Webstep experience going forward ● Strategy process kicked off pre-summer picking the path how to reach our future growth targets ○ Create synergies cross locations to attract large customers and create upsell opportunities ○ Efficient processes to deliver profitable grow
Slide 7: Sklls- HiSklls CallerSim
Sklls- HiSklls CallerSim ● Sklls is located in Stavanger, and offers simulation training through their core product, HiSklls. ● The HiSklls technology utilises advanced machine learning algorithms, neural networks, artificial cognitive intelligence, and natural language processing (NLP) to create a r
Slide 8: Adept Concept
Adept Concept™ ● Adept Concept has been specializing in compliance management and risk management systems for more than 20 years, serving a variety of industries with a primary focus on the offshore sector. ● Webstep has developed the "Adept AI Engine," utilising AI technology to automatically track
Slide 9: Financial review
Financial review
Slide 10: Key figures - Group
Key figures - Group Q2 Comments Q2 Q2 YTD YTD FY ● Figures includes discontinued business from Webstep AB. Going forward the figures will only include continuing business NOK million 2024 2023 2024 2023 2023 from Webstep Norway. Revenues 258.3 249.5 520.2 526.7 1,000.0 Change 3.5% 16.0% (1.2%) 17.5%
Slide 11: Norway Q2
Norway Q2 \ls 000 ll 1©l (ui 71N Revenue EBIT-margin FTEs 02 229.5 MNOK Q2 8.3% EoP 451 (+8.0%) (+0.5pts) (8)
Slide 12: Key figures - Norway
Key figures - Norway Q2 Comments Comparison to corresponding period last year Q2 Q2 YTD YTD FY NOK million 2024 2023 2024 2023 2023 ● Revenues from own consultants ○ Q2 212.4 MNOK, increased by 8.8% Revenues 229.5 212.5 459.2 451.1 857.7 ■ Growth primarily driven by increased hourly Change 8.0% 4.7%
Slide 13: Sweden Q2
Sweden Q2 \ls 000 qc pp a | ll nth Revenue EBIT-margin FTEs 02 29.7 MNOK Q2-0.1% EoP 80 (-21.7%) (3.1pts) (22)
Slide 14: Key figures - Sweden
Key figures - Sweden Q2 Comments Comparison to corresponding period last year Q2 Q2 YTD YTD FY ● Webstep AB sold to B3 Consulting Group NOK million 2024 2023 2024 2023 2023 ● With effect from the second quarter of 2024, Webstep AB Revenues 29.7 37.9 62.9 77.4 142.3 is classified as a disposal group h
Slide 15: Market update and outlook
Market update and outlook
Slide 16: Webstep market update
Webstep market update ● Continued challenging markets Long sales cycles, postponed project starts ● Top ten - increased revenue Substantial Webstep power in enterprise sales ● Strengthened Equinor presence Doubling the number of delivery agreements—developers paving the way for architects, agile coa
Slide 17: Outlook
Outlook ● Digitalisation continues to trend upwards Despite simultaneous lower demand and increased assignments- and projects competition ● Loyal, recurring customers Webstep maintains a diverse portfolio of loyal, recurring customers across various business sectors and public institutions ● Webstep
Slide 18: Questions?
Questions? Please contact us at ir@webstep.com
Slide 19: Appendix
Appendix
Slide 20: Customer base characteristics
Customer base characteristics Norway Optimizing sales and strengthening focus on A large and loyal customer base in both private and A diversified customers base between business enterprise market and large clients public sector sectors 20
Slide 21: Cash flow and net debt
Cash flow and net debt 30 Jun NOK million 2024 Cash and cash equivalents* (45.0) Restricted cash 28.4 Debt to credit institutions 0.0 Net interest bearing debt (NIBD)** (16.7) NIBD/EBITDA (rolling 12 months) (0.3) NIBD/EBITDA (rolling 12 months) 0.9 Including IFRS 16 Lease liabilities ● The Group has
Slide 22: Top 20 shareholders at 23 August 2024
Top 20 shareholders at 23 August 2024 22
Slide 23: Revenue, EBIT and FTE development
Revenue, EBIT and FTE development Revenue (LTM) EBIT (LTM) Number of FTEs (EoP) 23
Slide 24: Number of FTEs, end of period
Number of FTEs, end of period Number of FTEs, end of period Q2 Q1 Q4 Q3 Q2 Norway 2024 2024 2023 2023 2023 Norway total 451 448 471 463 459 Oslo 213 211 223 221 211 Bergen 88 84 91 90 94 Trondheim 65 65 65 64 61 Stavanger 55 56 59 57 62 Sørlandet 21 23 24 22 22 Haugalandet 9 9 9 9 9 Q2 Q1 Q4 Q3 Q2 S
Slide 25: 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