Admicom Oyj · OMXHEX:ADMCM
Admicom Oyj — Q1-Q3 2022 Earnings Presentation
29 slides from Admicom Oyj's earnings presentation, Oct 3, 2022
Slide 1: Admicom Oyj: Investor Presentation 1-9/2022
Admicom Oyj: 1-9/2022 INVESTOR PRESENTATION 3.10.2022
Slide 2: Important Notice
IMPORTANT NOTICE The following information contains, or may be deemed to contain, forward-looking statements. These statements relate to future events or future financial performance, including, but not limited to, expectations regarding market growth and development as well growth and profitability
Slide 3: Admicom in Brief
ADMICOM IN BRIEF Pure cloud service provider Widespread and predictable revenue flow ▪ 100 % cloud-based SaaS-software business ▪ Around 90 % of revenue is monthly recurring invoicing ▪ Established in Jyväskylä in 2004 by highly ▪ About 3 000 customers with over 30 000 users experienced software pro
Slide 4: The Growth Story Has Entered a New Phase
THE GROWTH STORY HAS ENTERED A NEW PHASE 2017 – 2020 2021 – 2023 + 39 % / year Target > 20 % / year Target > 30 % / year Building Services Engineering Construction Manufacturing 2013 – 2017 Lite Aiming to grow over Acquisition of Tocoman Oy + 56 % / year 20 % / year with an 24,9 EBITDA of 40-50 % Bu
Slide 5: Introducing New Group CEO
INTRODUCING NEW GROUP CEO Petri Kairinen was appointed as CEO of Admicom Oyj as of June 20, 2022 Experience • CEO of Nixu Corporation, 2014-2022 • IPO and internationalization of cybersecurity company Nixu • Leading growth from 10 MEUR to 50 MEUR revenue and 100 to 400 employees • Head of Sales & Ma
Slide 6: Group Executive Team as of 20.6.2022
GROUP EXECUTIVE TEAM AS OF 20.6.2022 Petri Aho Anna-Maija Ijäs Group CFO, deputy CEO Managing director of Admicom Finland Oy Petri Kairinen Group CEO Thomas Raehalme Mikko Järvi Head of R&D, Managing director of Kotopro Oy Managing director of Aitio Finland Oy
Slide 7: Q1-Q3/2022
Q1-Q3/2022
Slide 8: Q1-Q3/2022 Highlights
Q1-Q3/2022 HIGHLIGHTS ◼ Strong profitable growth continued ◼ Revenue grew by 27% to 23.6 MEUR ◼ EBITDA grew by 21% to 11.2 MEUR ◼ Changes in management and governance ◼ Petri Kairinen appointed to Group CEO as of 20th of June ◼ Changes in board of directors and management board ◼ M&A activity contin
Slide 9: Q3/2022 Highlights
Q3/2022 HIGHLIGHTS ◼ Strong profitable growth continued ◼ Revenue grew by 30% to 8.0 MEUR ◼ EBITDA grew by 16% to 3.8 MEUR ◼ Strategic review process started during Q3 ◼ Multitude of good options available within the current setup - digitalization in the construction has only started ◼ Strategy refr
Slide 10: Key Figures of Q3 2022
KEY FIGURES OF Q3 2022 Revenue growth EBITDA Earnings per share 30.4% 47.3% EUR 0.43 (10.8%) (53.1%) (EUR 0.46) Organic growth Inorganic growth 12.3% 18.1% (8.8%) (1.9 %)
Slide 11: Key Figures 1-9/2022
KEY FIGURES 1-9/2022 ADMICOM 7-9/2022 7-9/2021 Change-% 1-9/2022 1-9/2021 Change-% Revenue, 1 000 € 8 039 6 164 30.4% 23 576 18 528 27.2% EBITDA, 1 000 € 3 806 3 275 16.2% 11 166 9 197 21.4% % of revenue 47.3% 53.1% 47.4% 49.6% Operating profit, 1 000 € 2 925 2 895 1.0% 9 021 8 094 11.4% % of revenu
Slide 12: Key Figures by Quarter
KEY FIGURES BY QUARTER Comments Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 ▪ The new sales growth trend declined Revenue growth +11% +13% +24% +27% +30.4% slightly sequentially as onboarded euros were seasonally on a lower level and New sales (net) +10% + 10% +11% +10% +9.2% there was unseasonal uptick in CHURN.
Slide 13: Outlook 2022
OUTLOOK 2022 ▪ FINANCIAL GUIDANCE REITERATED ▪ revenue growth to be above 20% (1-9/2022 +27%) ▪ profitability to be 40-50% in terms of EBITDA (1-9/2022 Revenue growth 2022 47%) ▪ Themes affecting net sales and profitability in H2 Over 20 % ▪ Net sales growth in second half is supported especially by
Slide 14: Q&A
Q&A §
Slide 15: Acquisitions H1/2022
ACQUISITIONS H1/2022
Slide 16: Kotopro in Brief
KOTOPRO IN BRIEF ▪ Pioneering on-site documentation and information sharing SaaS-software ▪ Kotopro's software can be used to make comprehensive documentation or reports, certificates and other important notes directly from the worksite, which creates efficiency in the business and enables real-time
Slide 17: Planman in Brief
PLANMAN IN BRIEF ▪ PlanMan develops scheduling and project management software specifically aimed at construction companies. ▪ PlanMan's software is actively used by more than 400 customers mainly in Finland. ▪ PlanMan and Tocoman have cooperated closely for more than 10 years ▪ Revenue EUR 0.8 mill
Slide 18: Strategic Objectives of the Acquisitions
STRATEGIC OBJECTIVES OF THE ACQUISITIONS ◼ Strengthening Admicom’s product portfolio and competitiveness in customer critical areas ◼ On-site document management, information sharing, scheduling, project management and mobile user interfaces ◼ Significant increase in customer base and TAM ◼ Opportun
Slide 19: Admicom: Vision
ADMICOM: VISION Our vision is to be a pioneer in developing ERP solutions for small and medium-sized companies. TRENDS THAT SUPPORT OUR VISION 1. Transformation to cloud-based 2. Productivity and digitalization of construction softwares is ongoing industry has fallen behind from other industries 600
Slide 20: Admicom: Business Core
ADMICOM: BUSINESS CORE Admicom offers the most advanced ERP and superior services to selected target groups. Most advanced ERP (Adminet) • Cloud service • Highly automated • Real time information • Most extensive solution for customer industries • Constant development and regular updates Superior se
Slide 21: Why Our Customers Choose Us
WHY OUR CUSTOMERS CHOOSE US ”Adminet has been one of the prerequisites for our growth to be possible at all.” ”Currently we have fewer administrative employees than before, even though our revenue grew almost 4 million euros last year.” ”We are more than pleased with how much easier our operations h
Slide 22: Strategy 2021-2023
STRATEGY 2021-2023 Organic growth Inorganic growth Critical success factors 1. Organic growth from core 1. Wider service to existing 1. Strengthening the forerunner target groups and adaptation customer segments in status through automation to the Covid-19 pandemic synergy with existing core and rep
Slide 23: Core Markets
CORE MARKETS* Total (228 meur) market potential segmented by customer size 120 MEUR 100 80 60 40 20 - Big Mid Small (c. 1 800 companies) (c. 3 800 companies) (c. 13 000 companies) Total market Admicom + Kotopro * Based on Admicom’s market data and estimation
Slide 24: Markets and Competition
MARKETS AND COMPETITION Admicom has many partial competitors but it remains the only one to provide extensive industry-specific SaaS ERP solutions in its target groups. In the large customer segment competition includes also SAP, MS Dynamics AX, etc. tailored ERP solutions. In micro customer segment
Slide 25: Main Elements of Revenue Growth 2021
MAIN ELEMENTS OF REVENUE GROWTH 2021 8000 6000 Acquisitions Sales to new customers 4000 Sales to existing 2000 customers Annual adj. from own 0 customers Churn (lost cust.) -2000 2019 2020 2021
Slide 26: Revenue and Sales in 2021
REVENUE AND SALES IN 2021 Revenue by customer segments (2021) * Revenue by services (2021) Manufacturing; 6% Others; 8% Education, consulting and others; 5% Accounting services; 22% Construction; 49% Building Services Engineering; 37% SaaS; 73% * Construction revenue share includes Tocoman Oy’s reve
Slide 27: Income Statement H1 2022
INCOME STATEMENT H1 2022 Income statement, group EUR 1 000 1-6/2022 1-6/2021 REVENUE 15 536 12 364 Other operating income 10 1 Materials and services -753 -657 Personnel expences 5 887 -4 535 Depreciation and amortisation -1 264 -722 Other operating expenses -1 546 -1 251 OPERATING PROFIT 6 096 5 20
Slide 28: Balance Sheet 30.6.2022
BALANCE SHEET 30.6.2022 EUR 1 000 30.6.2022 30.6.2021 EUR 1 000 30.6.2022 30.6.2021 ASSETS EQUITY AND LIABILITIES NON-CURRENT ASSETS EQUITY Intangible assets Share capital and other corresponding capital 106 106 Development expenses 294 284 Immaterial rights 16 135 Reserve for invested unrestricted
Slide 29: investors.admicom.fi
investors.admicom.fi