Siili Solutions Oy · OMXHEX:SIILI
Siili Solutions Oy — FY2021 Earnings Presentation
21 slides from Siili Solutions Oy's earnings presentation, Feb 18, 2022
Slide 1: Siili Solutions Oyj Results Release 2021
Siili Solutions Oyj Results Release 2021 1
Slide 2: Tomi Pienimäki
Tomi Pienimäki Born: 1973 Dr. (Tech), M.Sc. (Econ) Career — Finnair, CDO — Vincit, CEO — Jolla, CEO — Posti, CIO — Hackman, CIO Home cook, AC/DC fan and a dog walker Results Release 2021 2
Slide 3: Siili in brief
Siili in brief FI FI Oulu Joensuu FI Jyväskylä We innovate, design, build and maintain digital services FI FI for our customers. Seinäjoki Tampere FI FI Helsinki All we are and all we do is human centric. Turku We want to be the best community for learning, and growth for our employees and customers
Slide 4: A Selection of Our Customers
A Selection of Our Customers Results Release 2021 6
Slide 5: Highlights of 2021
Highlights of 2021 — Rapidly growing innovation agency Supercharge joins Siili — Siili Auto made an impressive recovery from COVID shock — VALA continues profitable growth — Our domestic operations (Core FIN) improved during H2 — Success in new customer acquisition across the group — Several importa
Slide 6: On the right track towards our financial targets – 2021 key figures
On the right track Revenue Adj. EBITA towards our financial targets – 2021 key figures 99.3M€ 9.3M€ ■ 2021 83.3M€ 6.7M€ ■ 2020 Revenue growth Adj. EBITA % 19.2% 9.3% 3.4% 8.1% Results Release 2021 8
Slide 7: Financial Update
FINANCIAL UPDATE Results Release 2021 9
Slide 8: Revenue has doubled in past 5 years
Revenue has M€ 120 doubled in past 5 years 100 CAGR +15.5% 80 In 2021 Siili achieved a total growth rate of 19.2%, of which organic growth was 5.7% 60 H2 2021 growth 28.7%, organic growth 10.9% 40 20 0 2016 2017 2018 2019 2020 2021 Results Release 2021 10
Slide 9: Profitability development on a right track and nearing target level
Profitability M€ 10 10% development on a right track and nearing target level 8 Adj. EBITA, % CAGR +15.8% 8% Adj. EBITA EBITA growth for 2021 was +38% (YoY) 6 6% EBITA margin FY 2021 9.3% EBITA margin H2 2021 9.9% 4 4% 2 2% 0 0% 2016 2017 2018 2019 2020 2021 Results Release 2021 11
Slide 10: Strong quarterly performance
Strong quarterly Siili Group, EURm Q1 2021* Q2 2021 Q3 2021 Q4 2021 performance Revenue 23.6 25.1 22.4 28.2 EBITA (adj.) 2.0 2.3 1.8 3.3 adj. EBITA, % 8.5% 9.0% 7.9% 11.6% Our profitability has developed favourably for 12 consecutive quarters Q1 2020 Q2 2020 Q3 2020 Q4 2020 Revenue 22.6 21.4 17.2 22
Slide 11: We returned to solid organic growth track during 2021
We returned to solid 14% organic growth track 12% 11,6% 11,9% during 2021 10% 9,5% 8% Siili Auto, VALA and Core business driving organic growth in H2 2021 6% 4,7% 4% 2,5% 2% 0% -0,4% -0,7% -2% -2,3% -4% Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Results Release 2021 13
Slide 12: International revenues backed by Supercharge and recovered Auto
International M€ revenues backed by 25 25% Supercharge and recovered 20 20% Auto Considerable positive development in Siili Share of total revenue, % Auto after COVID shock 15 International revenue 15% Supercharge acquisition also a major contributor to growth in international revenue 10 10% 5 5% 0
Slide 13: Growth in personnel supported by Supercharge and successful recruiting
Growth in personnel # supported by 1 200 Supercharge and successful recruiting 1 000 163 800 Subcontractors Employee headcount 101 Active recruitment across the group in 2021 600 885 400 697 737 676 563 200 440 0 2016 2017 2018 2019 2020 2021 Results Release 2021 15
Slide 14: Stable financial position
Stable financial Siili Group, M€ 2021* 2020 position Cash and cash equivalents 20.4 21.7 Net debt / EBITDA, x** 1.0x -0.2x Equity ratio, % 31.1% 35.5% ROI, % 15.7% 24.9% Gearing, %*** -26.6% -76.6% Board dividend proposal 0.18 EUR / share *) Supercharge group consolidated to Siili group figures as o
Slide 15: Going Forward
GOING FORWARD Results Release 2021 17
Slide 16: Attractive markets with room to grow profitably
Attractive markets Our operating environment Comments with room to grow IT services market Finnish IT services market — We operate on a very large and growing market (◼), with our profitably c. 310bn€ already sizeable internakonal footprint allowing us to tap into the vast European market 4,6 — New
Slide 17: People
People 6C Framework for Employee Experience Development Universum IT Professionals Ranking Development for Siili Solutions Oyj Rank 8. /2021 Company Rank 10. /2020 Care Career Rank 13. /2019 Customer Cases Compensation Culture Rank 23. /2018 Results Release 2021 19
Slide 18: Responsibility – MAKE IT REAL
Responsibility – MAKE IT REAL We look at sustainability from financial, social, and environmental points of view — Enforcing impactful ethical business relationships — Providing equal opportunities to employees: diversity & inclusion, 24% of employees are women — Improving learning & well-being, new
Slide 19: Guidance for 2022
Guidance In 2022 we estimate Siili Group to continue profitable growth. We for 2022 expect revenue to be in the range of 102–117 million euro and adjusted EBITA 10–13 million euro. LONG-TERM FINANCIAL TARGETS UNTIL 2022 Long-term financial targets unchanged Financial targets will be Organic growth 10
Slide 20: Summary
Summary — Established position in a growing market domestically and internationally — Satisfied, loyal and diverse client base — Human centric and attractive employer — Successful business incubator — Durable track record of profitable growth Results Release 2021 22
Slide 21: SIILI.
SIILI.