Cy4gate Spa · MIL:CY4
Cy4gate Spa — STAR Conference 2025
28 slides from Cy4gate Spa's conference presentation, Mar 27, 2025
Slide 1: Cy4Gate STAR Conference 2025
Cy4Gate STAR Conference 2025 March 27, 2025
Slide 2: Agenda
AGENDA ➢ Cy4Gate at a Glance ➢ Addressable Markets ➢ Strategy & Outlook ➢ FY 2024 Financial Results ➢ Sustainability
Slide 3: Speakers
Speakers EMANUELE GALTIERI ALESSIA PISONI Head of Group FP&A CEO & General Manager & Investor Relator 3
Slide 4: Cy4Gate at a Glance
Cy4Gate at a Glance CY GATE Part of ELT Group
Slide 5: Cy4Gate at a Glance
Cy4Gate at a Glance 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 wit
Slide 6: +10 Years of Growth
+10 Years of Growth - Closing for the acquisition of 77.8% of - Signed contract with ELT Group for €6.5m - Strategic partnership between Cy4Gate and CDP Venture Capital SGR - Closing for the acquisition of another 15.33% of Diateam - New contracts for €10m in the Decision Growth and Intelligence fie
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. Treasury Shares Market 100% 70.66% 77.8% 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 Arianna Ciccolella Roberto Ferraresi Maria Giovanna Calloni Member Independent Member CHAIRMAN CEO & General CFO Manager Cinzia Parolini Alessandro Chimenton
Slide 9: Addressable Markets
Addressable Markets CY GATE Part of ELT Group
Slide 10: Portfolio overview
Portfolio overview CYBER INTELLIGENCE CYBER SECURITY Cyber Intelligence products and services collect and analyze information available online Cyber security solutions and services protect clients’ information systems, enabling the and generated through the use of digital and electronic devices dete
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
(modifier ted_ob 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 2025-2026 ▪ Consolidate our relationships with ELT by working to acquire orders in a thriving business ▪ Take part to international consortia or JVs for pluriannual defence programs Defence ▪ Capture EU funds (NATO, EDA, ESA) for R&D in the cyber also through industrial
Slide 16: Outlook 2025
Outlook 2025 BACKLOG/RECURRING PIPELINE CONVERSION TOTAL REVENUES Euro ~ 67 M Euro ~ 19 M Euro 84 - 87 M 16
Slide 17: FY 2024 Financial Results
FY 2024 Financial Results CY GATE Part of ELT Group
Slide 18: FY 2024 Highlights
FY 2024 Highlights The results of 2024 confirm the soundness of the CY4Gate Group. It continues on its path of consolidation driven by organic growth and M&A. 2024 New orders acquired equal to €84 million, +15% compared to 2023 and Backlog as at 31 December 2024 at €36 million, +40% compared to 2023
Slide 19: FY 2024 Key Data
FY 2024 Key Data Revenues¹ (€ mln) R&D (€ mln) EBITDA Adj. (€ mln) Adj. -0.9% EBITDA +10.0% +10.1% 12.1 12.0 2.7 0.3 68.3 75.1 7.2 7.9 9.3 11.6 FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 FY 2024 ▪ Revenues +10% (+3% by organic ▪ R&D Costs +10% compared to ▪ EBITDA Adjusted at €12.0 million growth) comp
Slide 20: FY 2024 Revenues Breakdown
FY 2024 Revenues Breakdown By business line By geographical area Decision Intelligence Forensic Intelligence Cyber Security Italy Export ~63% ~65% 15% 30% 40% 40% ~37% ~35% 45% 30% FY 2023 FY 2024 FY 2023 FY 2024 Business mix changes, mainly due to the Despite the lack of foreign Forensic sales, the
Slide 21: FY 2024 People Investment
FY 2024 People Investment Positive Items Negative Items Total 19 (84) 113 552 529 (25) Total personnel increased in 504 25 2024 by a total of 48 resources: ▪ Increase of 25 resources related to the XTN acquisition ▪ Increase of 132 resources in engineering and commercial compared to 109 exits Cy4Gat
Slide 22: FY 2024 NFP Bridge
FY 2024 NFP Bridge Positive Items Negative Items Total € mln 1.6 (5.9) 11.6 (14.8) (13.6) (1.6) (2.2) (5.6) 1.6 (2.0) (30.9) NFP 2023 EBITDA Change M&A Capex Treasury Interests Taxes Others Payout NFP FY NWC Shares Minorities 2024 Put option liability Put option liability 5.7 4.2 NFP FY 2023 w/o NFP
Slide 23: FY 2024 Profit & Loss
FY 2024 Profit & Loss 1 € mln FY 2024 1 FY 2023 Operating Revenues 72.4 66.5 Other Operating Revenues 2.7 1.8 Total Revenues 75.1 68.3 Services, Procurement & 30.3 27.1 other operating costs Personnel Costs 32.8 29.1 Costs 63.1 56.2 EBITDA Adjusted 12.0 12.1 D&A [including leasing costs] (16.8) (12.
Slide 24: FY 2024 Asset & Liabilities
FY 2024 Asset & Liabilities € mln FY 2024 FY 2023 Fixed assets 98.0 87.9 Inventory 1.0 0.8 Contract assets (liabilities) 6.0 3.1 Trade receivables 49.9 53.7 Trade payables (11.9) (14.4) Trade Working Capital 45.0 43.1 Other assets (liabilities) (9.7) (6.3) Net Working Capital 35.2 36.8 Net Capital I
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: ESG – Environmental, Social, Governance
ESG – Environmental, Social, Governance Climate positive actions ▪ 100 trees planted to reduce 17 tons of Co2 ▪ GHG emissions intensity (Scope 1 and 2) 20.93 tCO₂/€ million* ▪ Energy consumption MWh 1,775.69 ▪ Always looking to improve energy efficiency and we joined the project «M’illumino di meno»
Slide 28: Follow us
Follow us: Headquarter Via Coponia, 8 00131 Rome - Italy Investor Relations Officer Alessia Pisoni investors@cy4gate.com Investor Relations Advisor CDR Communication silvia.dirosa@cdr-communication.it luca.gentili@cdr-communication.it 28