Banqup Group · EURONEXT:BANQ
Banqup — H1 2023 Earnings Presentation
15 slides from Banqup's earnings presentation, Aug 29, 2023
Slide 1: Financial Results H1 2023
Financial Results H1 2023 August 29th, 2023
Slide 2: Agenda
Agenda 1 • Business Update by CEO Hans Leybaert 2 • Financial Results H1 2023 by CFO Laurent Marcelis 3 Slides & replay: https://www.unifiedpost.com/en/investor-relations
Slide 3: Business Update
Business Update By Hans Leybaert, CEO
Slide 4: Financial Results H1 2023
Financial Results H1 2023 By Laurent Marcelis, CFO
Slide 5: H1 2023: advancing operational efficiency & consistent EBITDA improvement in line with guidance
H1 2023: advancing operational efficiency & consistent EBITDA improvement in line with guidance €93,2m €65,2m 97,4% H1 2023 revenue digital processing revenue recurring revenue +1,6% YoY +9,9% YoY +1,1%pts YoY €22,1/month 41,5% €14m R&D ARPU H1 2023 digital processing 22,0% of digital gross margin p
Slide 6: Continuous network expansion and sustainable customer growth
Continuous network expansion and sustainable customer growth 1.172k 490k > 2.255k entities customers paying customers = accessible network +10,2% 33 > 150 connected software solutions countries +1.300 FTEs > 1.500 428 FTEs in R&D OpenBanking connections F INANCIAL R ESULTS H1 2023 | 7
Slide 7: Revenues - Digital processing with growth rate of 9,9% YoY
Revenues - Digital processing with growth rate of 9,9% YoY Total revenue (H1 2023) Total revenue (by quarter) in EUR m in EUR m 1,6% 93,2 55,2 91,7 48,2 44,9 44,1 32,4 27,9 16,9 14,8 13,1 14,7 59,3 65,2 38,3 29,4 33,4 31,9 H1 2022 H1 2023 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Digital processing revenue Po
Slide 8: Recurring revenue increased to 97,4%
Unifiedpost Group’s recurring revenue increased to 97,4% 1 Subscriptions in EUR m • Subscriptions Banqup available from € 10/month for basic document exchange, 93,2 higher prices for more volume and/or optimisation services more services Postage & parcel Trans- • B2B e-payments subscription in Banqu
Slide 9: Connecting businesses through our pan-European presence
Connecting businesses through our pan-European presence in EUR m Digital processing revenue 93,2 Top 5 countries optimisation services Belgium 14,6M 22% Postage & parcel Sweden 12,1M 19% 35% The Netherlands 8,8M 14% 27,9 Serbia 5,3M 8% United Kingdom 4,5M 7% 5% Postage & parcel optimisation Sweden 2
Slide 10: Gross profit & margins – Increased margin in digital and non-digital business lines YoY
Gross profit & margins – Increased margin in digital and non-digital business lines YoY Total gross profit & margin (by year) Digital processing gross profit & margin (by quarter) in EUR m in EUR m 46,2% 32,4% 29,5% 3,2 42,4% 41,0% 42,0% 3,3 47,0% 40,0% 40,7% 39,3% 13,9% 17,7 27,0 13,1 13,7 13,4 23,
Slide 11: Cost development & EBITDA – Early reflection of operational efforts
Cost development & EBITDA – Early reflection of operational efforts Cost development ✓ Total expense decrease from € 109,5 million to € 108,9 in EUR m million YoY 22,7 20,7 14,6 ✓ Higher R&D expenses recognized in results (OpEx) 13,9 10,3 11,3 7,8 7,5 ✓ Employee count reduced from 1.479 to 1.322 lea
Slide 12: Equity & cash flow development – cash position to achieve cash positive guidance
Equity & cash flow development – cash position to achieve cash positive guidance Equity per 30 Cash per 30 Equity evolution June 2022 Cash evolution June 2022 in EUR m 132,9M in EUR m 24,7M 158,3 0,0 0,0 0,0 0,0 132,9 (24,0) (1,4) 1 2 3 4 5 6 7 8 1 Equity 2022 YE 5 FV changes other 2 Issuance of sha
Slide 13: Key messages
Key messages ✓ Digital processing revenue grows 9,9% YoY boosted by 12,3% rise in recurring digital processing revenue ✓ Digital processing gross margin improves with 1,5%pts YoY to 41,5% ✓ Revenue dip from Postage & parcel optimisation mostly attributed by impact of SEK-EUR currency effect ✓ Gross
Slide 14: Q&A
Q&A 15
Slide 15: Contact details
Avenue Reine Astrid 92A 1310 La Hulpe, Belgium Tel: +32 2 634 06 28 Fax: +32 2 633 46 61 Support / general queries info@unifiedpost.com Contact sales sales@unifiedpost.com