Gigas Hosting Sa · BME:GIGA
Gigas Hosting Sa — FY2022 Earnings Presentation
16 slides from Gigas Hosting Sa's earnings presentation, Apr 26, 2023
Slide 1: Full Year 2022 Results Presentation for Investors
Diego Cabezudo Javier Cañete CEO CFO Full Year 2022 Results Presentation for Investors APRIL 2023
Slide 2: Disclaimer
gigas Disclaimer This document and the conference-call webcast (including the Q&A session) may contain forward-looking statements and information (hereinafter, the “Information”) relating to GIGAS HOSTING S.A. or GIGAS GROUP (hereinafter “Gigas”, the “Company“ or the “Gigas Group"). This Information
Slide 3: FY 2022 Key Highlights
FY 2022 Key Highlights FY22 net revenues grew 18.0% YoY up to €61.6M fuelled by corporate transactions and organic growth Adj. EBITDA €16.5M, 25.8% higher than the €12.1M of 2021 and 13.2% higher than the €14.6M budgeted for the year Focus on integrating companies (4 acquisitions in 2021) and launch
Slide 4: A B2B portfolio built for the digital era
A B2B portfolio built for the digital era Building a forward-looking ...unlocking significant value for service portfolio... Gigas and its clients Initial Services Convergent Services Cross-selling opportunities IaaS Hybrid and multi Cloud PaaS Cloud/security products SAPTM Cloud Cloud B2B PORTFOLIO
Slide 5: New Services: Bringing Telco, Cyber and Cloud together
New Services: Bringing Telco, Cyber and Cloud together New Innovative Convergent Services: Fibra Flexible: pay as you go, €1c per 100Mbps per hour Private Cloud Connect: Direct private fiber connection from your office to the Gigas cloud gBackup: New backup services launched, including worksta
Slide 6: Revenues 2022
Revenues 2022 About Gigas • Net revenues reached €61.56 million in 2022, 18.0% higher than in 2021 (€52.18M). Growth driven by the last 2 acquisitions closed in Sept 2021 (OnMovil) and Sept 2022 (TPartner) and by organic growth, specially in the cloud segment • Very good organic growth albeit impact
Slide 7: Revenue Split, Customers and ARPU 2022
About Revenue Split, Customers and Gigas ARPU 2022 • In terms of revenues, Telecom leads with 66.6% of net revenues, followed by Cloud, IT and Cybersecurity with 33.3% • In terms of geographies, the Iberian Peninsula contributes with 87.6% of total net revenues (Portugal 50.1%), followed by LATAM (7
Slide 8: Gross Margin and EBITDA 2022
About Gigas Gross Margin and EBITDA 2022 • Gross Margin of 61.9% during 2022, better than 58.8% of last year, and better than budgeted (56.7%), due mostly to extraordinary saving related to renegotiated telecom contracts in 2022 • Adjusted EBITDA reached €16.49M (before long term remuneration plans
Slide 9: 2022 IFRS Results Compared to 2021 and Budget
About 2022 IFRS Results Compared Gigas to 2021 and Budget GIGAS CONSOLIDATED P&L 2022 2021 Budget 2021 Figures in euros Jan-Dec % Var Jan-Dec % Var Jan-Dec Net Revenues 61,555,737 18.0% 52,183,320 -7.5% 66,533,790 Cloud, IT & Cybersecurity Services 20,474,348 24.3% 16,475,902 4.0% 19,692,229 Telecom
Slide 10: Other Financials
Other Financials • Amortizations grew to €13.56M in 2022 (€12.12M in 2021) mostly related to Customer Relations. Goodwill is not amortized under IFRS criteria • Financial expenses grew to €2.80M in 2022 (€1.90M in 2021), due to IRUs (Indefeasible Rights of Use, telecom infrastructure long term renta
Slide 11: CAPEX 2022
CAPEX 2022 • CAPEX (excl. M&A and R&D) grew to €9.9M this year, due to 10Gbps fiber deployment, new systems and platforms, migration and integration and full consolidation of ONI • Budget for the year was €10.9M (€7.1M in 2021), and therefore investment was one million euros lower than budgeted, rep
Slide 12: Debt Evolution as of 31st DEC 2022
Debt Evolution as of 31st DEC 2022 • Gross Debt at 31 DEC22 reached €45.6M. • Cash at hand amounted €13.69M as of 31/DEC22, resulting in a net financial debt position of €31.9M, or 1.9x EBITDA 2022 • Gross debt does not include convertible bonds (€2.5M) or long term rental agreements liabilities (IF
Slide 13: New Debt Agreement
New Debt Agreement • Six Banks: Banco Santander, Banco Sabadell, BBVA, CaixaBank, HSBC and Deutsche Bank • A tranche of up to €60M, secured by Santander Bank, divided into 4 sub-tranches: • Tranche A: €36M, to substitute existing bank debt • Tranche B1 and B2: €16M, to finance growth CAPEX and small
Slide 14: 2023 Budget
2023 Budget • Net revenues estimated to reach €72.6M in 2023, 18.0% higher than in 2022 and representing an organic growth of 11% • EBITDA to reach €17.3M, 4.7% higher than 2022 (lower growth due to lower gross margin as compared to the extraordinary margin of 2022) CONSOLIDATED P&L BUDGET BUDGET BU
Slide 15: Share Evolution
Share Evolution • Share ended at €10.30 in 2022 and it was influenced by high market volatility in the first months of 2023 • Share Price closed at €8.20 on 21st of April, unfortunately below the price at start of the year but still a significant premium (31.2%) since last capital increase in Q4’20
Slide 16: Investor relations contact
Investor relations contact: investor@gigas.com accionista@gigas.com —— gigas