Webstep As · OSL:WSTEP
Webstep As — Q4 2022 Earnings Presentation
23 slides from Webstep As's earnings presentation, Feb 21, 2023
Slide 1: Q4 and full year 2022
Q4 and full year 2022 Save Asmervik, CEO 21 February 2023 | Oslo
Slide 2: Agenda
Agenda 1. Highlights 2. Business review 3. Financial review 4. Outlook
Slide 3: Highlights from the quarter
Highlights from the quarter
Slide 4: Highlights
Revenues (LTM) Highlights ● Revenues ○ Q4: 246.4 MNOK +12.6% ○ FY 2022: 888.4 MNOK +14.6% ● EBIT actual EBIT (LTM) ○ Q4: 11.8 MNOK -36.1% ○ FY 2022: 54.6 MNOK -17.1% ● EBIT adjusted ○ Q4: 17.2 MNOK -6.8% ○ FY 2022: 60.0 MNOK -8.9% ● One-off costs of 5.4 MNOK ○ Overhead cost reduction ■ Group staff r
Slide 5: Business review
Business review
Slide 6: Market fundamentals
Market fundamentals Digitalization of business Cyber security and processes information security ● Strong long term digitalisation trend continues ● Increased need for team deliveries ● Webstep aligned with market trends Transformation of Increased automation business models leveraging IoT and AI ●
Slide 7: Go-to-market model
Go-to-market model Experts for hire IT Expert House Client run projects Services and solutions based on leading tech platforms Team-as-a-Service (TaaS) Cloud, AI, AR/VR, Blockchain, Webstep run IoT, Security projects System development, architecture, UX and project Projects & Solutions management WE
Slide 8: Major achievement in the enterprise market
Major achievement in the enterprise market …
Slide 9: Team-as-a-service delivery to the largest bank in Norway
Team-as-a-service delivery to the largest bank in Norway ● Dedicated Webstep Team as a Service team signed up for DNB ● The TaaS team is dedicated to develop key functionality to the pension portal project ● Team training and preparation core elements in Webstep Team-as-a-service deliveries. ● Webst
Slide 10: Clean and diverse Norwegian nature and environment
Clean and diverse Norwegian nature and environment ● Norwegian Environment Agency aim to secure clean and diverse Norwegian nature ● Webstep mobile and web application made for hands-on field resource management ● 4-year frame agreement signed, ongoing projects
Slide 11: Organization and employees
Organization and employees 65 Trondheim (+3) ● Strong local presence 88 Bergen ○ Close to the customer ○ Strategic partner (+14) Oslo 194 Uppsala 20 (+21) ● Improving the Webstep employee work experience (+3) 10 Haugalandet ○ Investing in our experts (+1) ○ Diverse project experiences Stockholm 57 ●
Slide 12: Financial review
Financial review
Slide 13: Key figures - Group
Key figures - Group Q4 Q4 Y/Y FY FY Y/Y NOK million 2022 2021 change 2022 2021 change Q4 Highlights Revenues 246.4 218.8 12.6% 888.4 775.0 14.6% EBITDA 18.5 22.9 (19.4%) 76.2 81.2 (6.1%) ● Solid revenue growth EBITDA margin 7.5% 10.5% (3 pts) 8.6% 10.5% (1.9 pts) EBIT 11.8 18.4 (36.1%) 54.6 65.9 (17.
Slide 14: Key figures - Norway
Key figures - Norway Q4 Q4 Y/Y FY FY Y/Y Q4 Highlights NOK million 2022 2021 change 2022 2021 change ● Stable revenue growth Revenues 210.2 188.6 11.5% 761.6 668.4 13.9% ○ Revenue from own consultants increased EBIT 10.0 17.0 (41.1%) 47.7 61.1 (21.9%) EBIT margin 4.8% 9.0% (4.2 pts) 6.3% 9.1% (2.9 pt
Slide 15: Key figures - Sweden
Key figures - Sweden Q4 Highlights Q4 Q4 Y/Y FY FY Y/Y NOK million 2022 2021 change 2022 2021 change ● Solid revenue growth 19.9% Revenues 36.2 30.2 19.9% 126.9 106.7 19.0% ○ Swedish segment represents 14.7% of EBIT 1.8 1.4 22.3% 6.9 4.8 44.1% EBIT margin 4.9% 4.8% 0.1 pts 5.5% 4.5% 1 pts consolidate
Slide 16: Outlook
Outlook
Slide 17: Outlook
Outlook ● Long term trend of digitalisation continues in a changing macroeconomic environment ● Balanced growth ○ Headcount growth balanced against profitability ○ Continued work on retention ● Forward capacity ○ Expect to be 550 employees by the end of first quarter 2023 ● Initiatives to increase pro
Slide 18: Questions?
Questions? Please contact us at ir@webstep.com
Slide 19: Appendix
Appendix
Slide 20: A diversified customer base
A diversified customer base Private sector 71 % Public sector 29 % 20
Slide 21: Cash flow and net debt
Cash flow and net debt Highlights ● Q4 free cash flow of MNOK 35.7 ● Capex relates to office and equipment ● Credit facility of MNOK 110 in Norway and SEK 5m in Sweden per end of quarter 31 Dec NOK million 2022 Cash and cash equivalents* (62.3) Restricted cash 1.7 Debt to credit institutions 0.0 Net int
Slide 22: Top 20 shareholders at 16 February 2023
Top 20 shareholders at 16 February 2023 22
Slide 23: Disclaimer
Disclaimer This Presentation includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. These statements and this Presentation are based on current expectations, estimates and projections abo