Sensys Gatso Group Ab · OMXSTO:SGG
Sensys Gatso Group Ab — Q1 2024 Earnings Presentation
19 slides from Sensys Gatso Group Ab's earnings presentation, Apr 26, 2024
Slide 1: Market Presentation Interim Report Q1 2024
Sensys Gatso Group AB Market Presentation Interim Report Q1 2024 April 26, 2024 10:00 CET Ivo Mönnink, CEO Simon Mulder, CFO Ticker |SGG Nasdaq Small Cap Stockholm
Slide 2: Agenda
AGENDA | 2024 Q1 - MARKET PRESENTATION » Business update » Financial update » Summary and Outlook
Slide 3: Delivering on our Ambition
BUSINESS UPDATE | Delivering on our Ambition » Order Intake +253% » Gross Margin suppressed due to start-up of System Sales » Large backlog in home markets deliveries » Revenue up 11% » MoU with Saudi customer signed » Seasonality in US Managed Services » Successful Intertraffc Show
Slide 4: Order Intake +253%
BUSINESS UPDATE | Order Intake +253% ● Order Intake MSEK 318 (90) → 253% growth ● Order Intake US TRaaS Managed Services MSEK 275 (35), growth multiple 8 +253% ● US order intake 86% of total order intake ● Nine new contracts in USA ○ Four new cities → SEK 154 million ○ Five renewals → SEK 121 millio
Slide 5: Large backlog from home markets
BUSINESS UPDATE | Large backlog from home markets ● Two large contracts in home markets in 2022 ○ Sweden SEK 850 million ○ Netherlands SEK 400 million ● Sweden roll-out starts Q3 2024 ● Netherlands roll-out started in Q4 2023 ● 6 % of SEK 1,250 million delivered SEK 850 SEK 400 94% or SEK 1,180 mill
Slide 6: Revenue is up 11%
BUSINESS UPDATE |Revenue is up 11% Segments Managed Nature (MSEK) System Sales Services Total System Sales 41 41 TRaaS: Service & Maintenance & Licences 25 25 ● Total Revenue MSEK 125 (113) → 11% growth TRaaS: Managed Services 10 50 59 75 50 125 ● System Sales MSEK 41 (27) → 51% growth Segments +16%
Slide 7: Seasonality in US Managed Services
BUSINESS UPDATE | Seasonality in US Managed Services ● Typically fewer citations at beginning of the year ● Extreme weather conditions → less and slower driving ● Schools close during Holiday season ● Return to increased citation and revenue levels in Q2 7
Slide 8: Gross Margin suppressed due to start-up of System Sales deliveries
BUSINESS UPDATE | Gross Margin suppressed due to start-up of System Sales deliveries ● Gross Margin 37.5% (40%) ● System sales deliveries in initial phase of project in Netherlands at lower margins ● After customer acceptance, Service & Maintenance part of contract commences at higher margins. ● Gra
Slide 9: Successful Intertraffic show
BUSINESS UPDATE | Successful Intertraffic show 9
Slide 10: Memorandum of Understanding with Saudi Customer
BUSINESS UPDATE | Memorandum of Understanding with Saudi Customer ● MoU signed on April 15th in Amsterdam ● Intensify strong partnership since 2016 ● Discussions to potentially introduce new enforcement solutions and a service level agreement to maintain the installed base. 10
Slide 11: Financial Update
AGENDA | FINANCIAL UPDATE » Consolidated income statement » Analysis of the segments performance » Financial position
Slide 12: Consolidated Income Statement
FINANCIAL UPDATE | Consolidated Income Statement 12MR Q1 12MR Q1 MSEK Q1 2024 Q1 2023 2024 2023 Q1 12MR System Sales Revenue 41 27 274 166 TRaaS TRaaS TRaaS Revenue 84 86 361 329 Revenue Revenue Total Revenue 125 113 635 494 -2% 10% Cost of goods sold -78 -68 -381 -276 Gross profit 47 45 254 219 Gros
Slide 13: Segment Managed Services
FINANCIAL UPDATE | Segment Managed Services Q1 Revenue and EBITDA continue to grow ● High activity contract signings in Q1 2024 MSEK 275 (MSEK 35) ● Sales growth MSEK 7 (16%) driven by new programs, MSEK 9 lower than Q4 due to seasonality ● EBITDA MSEK 8 (4), 12MR EBITDA MSEK 30 (26); Investments in
Slide 14: Segment System Sales
FINANCIAL UPDATE | Segment System Sales Delivering on the Dutch Tender ● Q1 order intake in the segment mainly driven by repeat orders MSEK 44 (55) ● Revenue at MSEK 75, 6% growth compared to Q1 2023, 12MR 37.5% revenue growth ● EBITDA at MSEK -4, due to lower margins on initial deliveries big proje
Slide 15: Financial Position
FINANCIAL UPDATE | Financial Position Available cash temporarily impacted by big project financing and investments in USA ● Available cash at MSEK 112 (84 end of 2023) ● Working capital decrease MSEK 43; Payments received on Saudi project ● Investments in fixed assets amounted MSEK 27 for the quarter
Slide 16: Outlook
SUMMARY | Outlook D G E GA U L UM I I IB D V DI A E AT N R NI C E CO E D EN Executing on 1.2bn backlog in Delivering on the 2025 US TRaaS momentum home markets Ambition 16
Slide 17: Sensys Gatso Group
17 Sensys Gatso Group
Slide 18: Q&A
Q&A Ivo Mönnink, CEO Simon Mulder, CFO Contact: investor@sensysgatso.com
Slide 19: Investment proposition
THE WRAP UP |Investment proposition Leading global player in Traffic Enforcement Solutions 1 A global brand with the strongest heritage in the industry. Relevant, growing and dynamic market 2 We operate in a market with high potential growth rates and increasing relevance and interest across the world