Cy4gate Spa · MIL:CY4
Cy4gate Spa — European MidCap Conference - Virtual (November 2024)
29 slides from Cy4gate Spa's conference presentation, Nov 27, 2024
Slide 1: Cy4Gate European Midcap Conference - Virtual
Cy4Gate European Midcap Conference - Virtual November 27, 2024
Slide 2: Agenda
AGENDA ➢ Cy4Gate at a Glance ➢ Addressable Markets ➢ Strategy & Outlook ➢ Financials ➢ Sustainability
Slide 3: Speakers
Speakers MARCO LATINI ALESSIA PISONI CFO & Investor Relations Head of Group FP&A Manager & IR Coordinator 3
Slide 4: Cy4Gate at a Glance
Cy4Gate at a Glance CY GATE Part of ELT Group
Slide 5: Highlights
Highlights 360° CYBER VENDOR HUGE TARGET ADDRESSABLE MARKET Robust technology engine with proprietary Governments – Big Corporation & SME in the solutions cyberintelligence and cybersecurity markets UNIQUE POSITIONING TALENT AND PEOPLE “AT THE CORE” Unique positioning in the cyber space with Investm
Slide 6: 2014-2024: 10 Years of Growth
2014-2024: 10 Years of Growth - Closing for the acquisition of 77.8% of - Strategic agreement with Attiva - Signed contract with ELT Group for €6.5m - Strategic agreement with Innovery - Strategic partnership between Cy4Gate and CDP Venture Capital SGR - Capital Increase of - Closing for the acquisi
Slide 7: Group & Shareholders
Group & Shareholders GROUP SHAREHOLDERS Elettronica S.p.A. 38.25% 38.38% TEC Cyber S.p.A First SICAF S.p.A. 100% 70.66% 77.8% Treasury Shares Market 1.91% 5.30% 16.16% 7
Slide 8: Team
Team Board of Directors Top Management Domitilla Benigni Emanuele Galtieri Chairman CEO & General Manager Domitilla Benigni Emanuele Galtieri Marco Latini Roberto Ferraresi Maria Giovanna Calloni Member Independent Member CHAIRMAN CEO & General CFO & Investor Manager Relations Cinzia Parolini Alessa
Slide 9: Addressable Markets
Addressable Markets CY GATE Part of ELT Group
Slide 10: Portfolio overview
Portfolio overview CYBER INTELLIGENCE CYBER SECURITY Decision Cybersecurity Intelligence Products Forensic Cybersecurity Intelligence Services 10
Slide 11: Cyber Intelligence
Cyber Intelligence Cyber Intelligence solutions collect and analyze information Global opensource intelligence (Osint) market available online and generate added value insight thanks to AI € bln 16.5 QUIPO is complete intelligence platform, based +20% on AI technology, able to mix and match: several
Slide 12: Cyber Security
Cyber Security Cyber security solutions protect clients’ information systems, enabling Global Cybersecurity Products1 Market the detection of anomalies and generating response actions € bln 12.8 +9% 10.7 9.0 6.9 7.5 6.3 Cybersecurity Real time analytics (RTA) is a security information and Products e
Slide 13: Strategy & Outlook
Strategy & Outlook CY GATE Part of ELT Group
Slide 14: Our growth Strategy: Market
Our growth Strategy: Market Cy4Gate Group portfolio – cyber intelligence & cyber security products - perfectly fits with the following 3 fast growing markets, both in Italy and abroad: Products involved ▪ Increasing internal and external security threats and undergoing military network-centric moder
Slide 15: Our growth Strategy: Actions
Our growth Strategy: Actions 2024 2025-2026 Opportunities ▪ Strengthen industrial partneships with Tier-1 Italian and ▪ Capture EU funds (NATO, EDA, ESA) for R&D in the cyber also The strategy will be a key European Defence Contractors through industrial partnership enabler to: ▪ Penetrate new geogr
Slide 16: Expected Revenues 2024
Expected Revenues 2024 PIPELINE CONVERSION RATE TOTAL TOTAL ~122 €M ~11% ~13-15 €M BACKLOG RECURRING TOTAL TOTAL ~38 €M ~31-34 €M ~69-72 €M 16
Slide 17: Financials
Financials CY GATE Part of ELT Group
Slide 18: Highlights
Highlights The results of the first 9 months of 2024 confirm the soundness of the CY4Gate Group with the improvement of all economic indicators compared to 9M 2023; seasonality of turnover - historically concentrated in the last quarter of the year - is still relevant partially offset by XTN and DAR
Slide 19: 9M 2024 Key Data
9M 2024 Key Data Revenues¹ (€ mln) R&D (€ mln) EBITDA Adj. (€ mln) Adj. +11.9% EBITDA +5.8% +85.3% 3.6 3.2 0.2 44.9 47.5 6.1 2.4 3.4 3.3 0.8 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 ▪ Revenues +5.8% compared to ▪ R&D Costs +85% compared to ▪ EBITDA Adjusted at €3.6 million – the first nine mo
Slide 20: 9M 2024 Revenues Breakdown
9M 2024 Revenues Breakdown By business line By geographical area Decision Intelligence Forensic Intelligence Cyber Security Italy Export ~72% 10% ~57% 33% 27% 41% ~43% ~28% 33% 57% 9M 2023 9M 2024 9M 2023 9M 2024 Business mix changes, mainly due to the International sales are down compared to the co
Slide 21: 9M 2024 People Investment
9M 2024 People Investment Positive Items Negative Items Total 15 (60) 541 529 73 (16) 504 25 Total personnel increased in the first nine months of 2024 by a total of 37 resources: ▪ Increase of 25 resources related to the XTN acquisition that will strengthen the cybersecurity line ▪ Increase of 88 r
Slide 22: 9M 2024 NFP Bridge
9M 2024 NFP Bridge Positive Items Negative Items Total € mln 2.7 (4.3) 2.2 (13.6) (9.6) (1.6) (1.2) 1.2 (25.4) (5.7) (2.9) (0.4) (2.0) (35.2) NFP EBITDA Change Net Capex Treasury Interests NFP 1H EBITDA Change Capex M&A Payout NFP 9M 2023 NWC Acquisition Shares 2024 NWC minorities 2024 XTN Put optio
Slide 23: 9M 2024 Profit & Loss
9M 2024 Profit & Loss 1 1 € mln 9M 2024 9M 2023 Operating Revenues 45.4 43.6 Other Operating Revenues 2.2 1.3 Total Revenues 47.5 44.9 Services, Procurement & 20.1 19.3 other operating costs Personnel Costs 23.8 22.4 Costs 43.9 41.7 EBITDA Adjusted 3.6 3.2 D&A [including leasing costs] (11.4) (9.6)
Slide 24: 9M 2024 Asset & Liabilities
9M 2024 Asset & Liabilities € mln 9M 2024 FY 2023 Fixed assets 96.8 87.9 Inventory 1.5 0.8 Contract assets (liabilities) 6.1 3.1 Trade receivables 49.4 53.7 Trade payables (11.1) (14.4) Trade Working Capital 45.9 43.1 Other assets (liabilities) (13.0) (6.3) Net Working Capital 32.9 36.8 Net Capital
Slide 25: Sustainability
>. fea re) (qe) — qe) oa (Tp) =) Y) GATE Part of ELT Group
Slide 26: Our commitment for a greater sustainability
Our committment for a greater sustainability Goal 4 Goal 8 Goal 9 To ensure inclusive and To promote sustained, To build resilient equitable quality education inclusive and sustainable infrastructure, and to and promote lifelong economic growth, full and promote inclusive and UN Global Compact & SDG
Slide 27: Business ethic and human empowerment
Business ethic and human empowerment Governance Human rights Relationship and working conditions ▪ Solid corporate governance ▪ Respect for human rights ▪ People management and care ▪ Sustainability-oriented strategies ‒ in the production and sale ▪ People empowerment and policies of products ▪ Occu
Slide 28: ESG – Environmental, Social, Governance
ESG – Environmental, Social, Governance Climate positive goal ▪ In 2022, 100 trees planted to reduce 17 tons of Co2 ▪ In 2023, 56% saving of energy consumed outside the organization resulting from smart working ▪ We are always looking to improve energy efficiency and we joined the project «M’illumin
Slide 29: Follow us
Follow us: Headquarter Via Coponia, 8 00131 Rome - Italy CFO & Investor Relations Manager Marco Latini investors@cy4gate.com Investor Relations Advisor CDR Communication silvia.dirosa@cdr-communication.it luca.gentili@cdr-communication.it 29
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