Odine Solutions Teknoloji Ticaret Ve Sanayi As · BIST:ODINE
Odine Solutions Teknoloji Ticaret Ve Sanayi As — Investor Presentation (May 2025)
39 slides from Odine Solutions Teknoloji Ticaret Ve Sanayi As's investor presentation, May 2025
Slide 1: Odine Solutions Investor Presentation
Odine Solutions Teknoloji Ticaret ve Sanayi A.Ş. Investor Presentation
Slide 2: Contents
CONTENTS Executive Summary Financial Figures p.3 p.18 Business Review Growth Strategy p.6 p.27 Management Team Appendix p.14 p.31
Slide 3: Executive Summary
EXECUTIVE SUMMARY Products and Services Founded ~25 Years of Experience 2000 Voice Solutions Data Solutions R&D Assets ROA of 20% $ terms 76,3 Nebula & Orion Virtualization New Generation Innovation Million USD Odine offers efficient Services Technology Solutions AI-Enabled Network Orchestration Pla
Slide 4: Milestones
MILESTONES Value has been created with technology since 2000 Founded Dubai Nebula & Czechia We are The Great Bilişim 500 R&D IPO Innovation Focused -2000- -2011- Orion -2019- Growing Fast Leap -2022- Breakthrough -2024- -2025- Odine was Odine Dubai -2015- Odine Czechia -2020- -2021- -2023- • It was
Slide 5: Key Financial Indicators
KEY FINANCIAL INDICATORS With the IPO, equity capital has strengthened and profitability has increased even further. Net Sales (2024) Gross Profit (2024) EBITDA** (2024) 36,6 19,0 %12,7 %17,1 %18,7 Million USD Million USD 15,0 Million USD 32,5 Million USD (2023) 16,2 Million USD (2023) 12,7 Million
Slide 6: Business Review
dD a BUSINESS REVIEW a
Slide 7: Odine at a Glance
ODINE AT A GLANCE A software company delivering technology, end-to-end integration, and consultancy services Shareholders Doğu Kaan Bilyay Shares Offered to the 8.023.451₺ Public 7,26% 44.200.000₺ ~25 Years Türkiye's First 40,00% of Commercial Cloud Deniz Han Bilyay Experience Telecom Infrastructure
Slide 8: Milestones
MILESTONES Value has been created with technology since 2000 Founded Dubai Nebula & Czechia We are The Great IT 500 R&D IPO Innovation Focused -2000- -2011- Orion -2019- Growing Fast Leap -2022- Breakthrough -2024- -2025- Odin was Odine Dubai -2015- Odine Czechia -2020- -2021- -2023- • It was offere
Slide 9: Products & Services
PRODUCTS & SERVICES Odine provides services in 3 main product groups: Voice Solutions, Data Solutions and R&D. Product Portfolio & Services Voice Solutions Data Solutions R&D Nebula & Orion Virtualization Technology Solutions and Innovation Odine provides Services Engineering Services AI-Powered Net
Slide 10: Odine Technology & Affiliated Companies
ODINE TECHNOLOGY & AFFILIATED COMPANIES The service network is being expanded across various locations to establish a strong position in international markets. Odine Engineering Services CZH S.R.O. (Odine Czechia) OdineLabs Inc. Established: 2019 Odine Solutions Shareholder Structure (Odinelabs USA)
Slide 11: Odine in Globe and International Customer Portfolio
ODINE in GLOBE AND INTERNATIONAL CUSTOMER PORTFOLIO Odine has a customer portfolio of more than 170 clients across 40 countries. Strong Customer Network Serving over 170 customers in ~40 countries E-Turquality Support Aligned with Global Strategic Goals Odine was accepted into the E-Turquality Progr
Slide 12: Employee Profile
EMPLOYEE PROFILE Sustainable human resources with high employee satisfaction and low employee turnover* Company Headcount Gender Distribution 140 90 95 96 Female Male 11,4% 88,6% 2021 2022 2023 2024 Educational Status Location Distribution Distrubution of Employees by Age Range 45 and Master's Abroa
Slide 13: Awards and Certifications
AWARDS and CERTIFICATIONS Awarded the Cloud & Edge Deloitte Technology Fast 50 Deloitte Best Managed Companies Computing Innovation Prize 2020 | 2021 2021 (2022–2023) Bilişim 500 Research ISO certifications: ISO 27001 | ISO Capacity - Listed Among the Top 2020 | 2021 | 2022 | 2023 22301 | ISO 20000-
Slide 14: Management Team
7 MANAGEMENT TEAM
Slide 15: Board of Directors
BOARD OF DIRECTORS Alper Tunga Burak Chairman of the Board Alper Tunga Burak graduated from ITU Electronics and Communication Engineering BSc and Boğaziçi University Engineering and Technology Management MSc. He worked on transformation projects as a Product and Business Development Manager at Turkc
Slide 16: Board of Directors
BOARD OF DIRECTORS Kerim Pertev Zapsu Board Member Kerem Pertev Zapsu has been serving as a Board Member at Azizler Holding A.Ş. since 2016. As of the same year, he has been serving as a Board Observer at BPN Ödeme Ödeme Kuruluşu A.Ş., and in 2024, he became a Board Member at Topraq Tarım Teknolojil
Slide 17: Experienced Management Team
EXPERIENCED MANAGEMENT TEAM Top Management Alper Tunga Bülent Tarkan Ali Aydın Bora BURAK KAYTAZ ALAGÖZ YÖNEY PIRINCCIOGLU YÜCEL Chief Executive Head of Science Chief Chief Chief Chief Officer and Technology Growth Officer Financial Officer Information Officer Operating Officer 17
Slide 18: Financial Figures
dD a FINANCIAL FIGURES a
Slide 19: Net Sales
NET SALES Net sales grew by 35.8% compound annual growth in USD terms in 2022-2024 Net Sales, mn USD Net Sales by Product Group 5%; 1,5 m$ 7%; 2,6 m$ CAGR: 35,8 % 36,6 32,5 10%; 1,9 m$ 2% 1% 0,4 m$ 0,2 m$ 25% 8,2 m$ 19,9 2022 2023 2024 88% 92% 17,5 m$ 33,8 m$ Collaborations with Leading Players in t
Slide 20: Profit Margins
PROFIT MARGINS Strong Operational Performance Gross Profit & Gross Margin, m$ EBITDA & EBITDA Margin, m$ 20,0 CAGR: 37,1 % 19,0 60,0% 16,0 41,5% CAGR: 35,2 % 15,0 43,0% 50,8% 18,0 16,2 41,0% 12,7 14,0 50,0% 16,0 49,9% 51,8% 12,0 41,1% 39,0% 14,0 40,0% 39,0% 37,0% 10,1 8,2 10,0 12,0 35,0% 10,0 30,0%
Slide 21: EBITDA and Net Profit Trends
EBITDA AND NET PROFIT TRENDS Virtualization is the mainstay of EBITDA growth EBITDA & Net Income Bridge, m$ 0,6 11,0 1,0 0,4 15,0 1,2 -2,0 1,7 -0,4 2,4 12,7 -1,4 0,7 12,3 -1,8 -0,2 10,5 -1,0 -8,0 21
Slide 22: Balance Sheet Outlook
BALANCE SHEET OUTLOOK The IPO in 2024 supported asset and equity growth Assets, m$ 90,0 Balance Sheet Summary, 2024 80,0 CAGR : 35,8% 76,3 70,0 60,0 45,7 50,0 41,4 40,0 30,0 20,0 10,0 0,0 2022 2023 2024 Assets Equity, m$ 2.692,9 m₺ 60,0 CAGR: 89,1% 53,6 50,0 40,0 30,0 23,4 20,0 15,0 10,0 0,0 2022 20
Slide 23: Net Financial Debt
NET FINANCIAL DEBT Debt-free structure creates high borrowing capacity Net Financial Debt & Equity & Financial Leverage Net Cash / EBITDA 30 2,5 27,9 m$ 2022/12 2023/12 2024/12 2,2 Cash and Cash Equivalents 3,9 7,8 18,8 25 1,9 2,0 Financial Investments 14,6 2,9 10,1 Net Cash/EBITDA 20 18,4 Short Ter
Slide 24: Investments
INVESTMENTS A significant budget was allocated for development investments in 2024 Working Capital Investments, m$ m$ 2022/12 2023/12 2024/12 20,0 40,0% 36,6% Trade Receivables 12,7 22,5 24,4 18,0 30,0% Prepaid Expenses 2,1 0,2 0,5 13,4 16,0 23,2% Inventories 0,9 0,2 0,0 20,1% 14,0 1,3 20,0% 12,0 Tr
Slide 25: Working Capital
WORKING CAPITAL Operations are managed efficiently with a low Working Capital/Sales ratio 25
Slide 26: Financial Ratios
FINANCIAL RATIOS Balance sheet reached to a liquid structure with IPO FX Position, mTL 350,0 Liquidity Ratios 2023/12 2024/12 303,6 300,0 276,8 Current Ratio 1,60 2,51 -26,7 250,0 Liquidity Ratio 1,59 2,51 200,0 150,0 Debt Ratios 2023/12 2024/12 100,0 50,0 Total Debt/Total Assets 48,7% 29,7% 0,0 EBI
Slide 27: Growth Strategy
dD a GROWTH STRATEGY a
Slide 28: Investment Thesis
INVESTMENT THESIS Why Odine? Growth Potential – The products sold to telecom are also planned to be sold to defense, retail and energy companies, and in parallel, EBITDA is expected to raise. Strong Customer Portfolio – Turkcell, which has nearly 50 million subscribers, as well as international cust
Slide 29: Growth Strategy
GROWTH STRATEGY Artificial Intelligence Export It is anticipated that with the rising use of artificial In exports, where profit margins are higher, it is intelligence, higher quality and more data will be aimed for the revenue share to exceed 50% in the 1 used. This will cause telecom operators to
Slide 30: Estimate & Realizations
ESTIMATE & REALIZATIONS Odine continues to create value with realizations above price determination report (PDR) expectations 2024 PDR Forecasts and Realizations, m$ 36,6 PDR Expectations Exceeded +29% 28,4 The 132% increase in PDR's EBITDA expectation in 2024 was reflected in the stock performance
Slide 31: Appendix
4 APPENDIX
Slide 32: Stock Performance
STOCK PERFORMANCE Relative Stock Performance Since IPO 600 ODINE, TL 500 ODINE, USD Return Above Index BİST100, TL 400 BİST100, USD 300 269 Return above USD-based 200 231 index since IPO 109 100 91 0 Base Date: 20.03.2024 = 100 ODINE Stock Price Since IPO 190,00 4,90 TL 170,00 USD 4,40 USD based 131
Slide 33: Key Financial Highlights
KEY FINANCIAL HIGHLIGHTS Balance Sheet & Income Statement Balance Sheet, mnTL 2022 2023 2024 Current Assets 644,8 994,1 1.908,8 Income Statement, mnTL 2022 2023 2024 Cash and Cash Equivalents 73,6 229,2 664,7 Revenue 328,1 771,3 1.199,7 Financial Assets 273,5 84,4 357,4 Trade Receivables 237,4 662,7
Slide 34: Key Financial Indicators Q1
KEY FINANCIAL INDICATORS Q1 Strong financial performance continued in the first quarter of 2025 Revenue (Q1 2025) Gross Profit (Q1 2025) EBITDA** (Q1 2025) 6,6 2,5 66% 246% 174% Million USD Million USD 1,5 Million USD 4 Million USD (Q1 2024) 0,7 Million USD (Q1 2024) 0,5 Million USD (Q1 2024) Total
Slide 35: 2025 Highlights
2025 HIGHLIGHTS : Odine has signed a strategic partnership Odine has signed a Memorandum of Odine signed a Memorandum of Understanding agreement with Rakuten Symphony. This Understanding (MoU) with Turkcell to accelerate (MoU) with Airspan Networks at MWC Barcelona collaboration represents a signifi
Slide 36: 2024 Highlights
2024 HIGHLIGHTS : Odine maintained its leadership in the Odine and Logate announced the successful Odine was awarded the "IPO of the Year" at the virtualization category in the "Turkey's Top 500 IT deployment of the OpenProvider vAAA platform to CC-Global Awards organized by Carrier Companies" list
Slide 37: Driving innovation in 5G, 6G and AI
ODINE aims to drive innovation in emerging technologies such as 5G and 6G, Machine Learning, Digital Twin, LLM, and Predictive AI. OdineLabs Inc., a subsidiary of the Company based in the United States, continues its R&D activities in next-generation communication technologies with determination. In
Slide 38: Disclaimer
DISCLAIMER Legal Notice This presentation has been prepared by Odine Solutions Teknoloji Ticaret ve Sanayi A.Ş. While the Company believes that these research and estimates are reasonable and (“Odine” or the “Company”) using sources believed to be reliable, with the aim of reliable, these projection
Slide 39: Investor Relations Contact
Ali Yöney Deputy General Manager of Finance& Executive for Investor Relations Department yatirimciiliskileri@odine.com T: +90 212 347 03 63 Huzur Mahallesi Azerbaycan Caddesi Skyland Sitesi B No:4b İç Kapı 481 Sarıyer/İstanbul odine.com
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