Slide 1: Interim Report January – March 2023
INTERIM REPORT JANUARY – MARCH 2023 28 APRIL 2023
Slide 2: Presentation of Addnode Group's Interim Report January – March 2023
PRESENTATION OF ADDNODE GROUP’S Interim report January – March 2023 JOHAN ANDERSSON LOTTA JARLERYD CEO CFO johan.andersson@addnodegroup.com lotta.jarleryd@addnodegroup.com +46 70 420 58 31 +46 72 247 92 01 2 INTERIM REPORT JANUARY–MARCH 2023
Slide 3: Agenda
AGENDA Interim report January – March 2023 1. Addnode Group in brief 2. Q1 2023 3. Sustainability 4. Investment case 5. Q&A 6. Appendix a) Acquisitions 2023, 2022, 2021, 2020 b) Shareholders, March 31, 2023 c) Share performance, 2023 YTD 3 INTERIM REPORT JANUARY–MARCH 2023
Slide 4: Addnode Group: Digital Solutions for a Sustainable Future
ADDNODE GROUP Digital Solutions for a Sustainable Future Addnode Group generate sustainable value growth by acquiring new businesses and actively support our R12 Q1 2023 (Full year 2022) subsidiaries to drive organic growth. We are organised in three divisions Net Sales EBITA • Design Management • P
Slide 5: Q1 2023 – Robust Growth and Improved EBITA
ADDNODE GROUP Q1 2023 – ROBUST GROWTH AND IMPROVED EBITA Highlights • Net sales increased by 49% to SEK 1,972 m Q1 Q1 Rolling 2023 2022 Change 12m ◦ Symetri and Microdesk in the Design Management division Net sales, SEK M 1,972 1,326 49% 6,871 continued to drive sales and earnings growth EBITA, SEK
Slide 6: Continued growth in recurring revenue, at 72% of net sales
ADDNODE GROUP Continued growth in recurring revenue, at 72% of net sales in Q1’23 Breakdown of net sales, SEK m Breakdown of net sales by Breakdown of net sales by Q1 2019–2023 category, Q1’23 geography, Q1’23 Services Other Sweden 2% Licenses Other 1,972 22% 16% 30% 7% 80 1,326 Germany 1,234 10% 69
Slide 7: Three divisions
ADDNODE GROUP Three divisions Share of Net Sales* Share of EBITA* Q1 2023 Q1 2023 Process Design Process Design Management, 17% Management, Management, 29% Management, 61% 59% Product Lifecycle Management, Product 22% Lifecycle Management, 12% Addnode Group Net sales Q1 2023: SEK 1,972 m Addnode Gro
Slide 8: Design Management: Symetri/Microdesk continues to impress
DESIGN MANAGEMENT Symetri/Microdesk continues to impress Highlights Q1 Q1 Rolling • Net sales increased by 72% to SEK 1,213 m, currency 2023 2022 Change 12m adjusted organic growth 25%. Net sales, SEK M 1,213 707 72% 4,000 ◦ Symetri/Microdesk continued to perform well EBITA, SEK M 131 89 47% 440 EBI
Slide 9: Product Lifecycle Management: Solid growth, but EBITA impacted by low utilization
PRODUCT LIFECYCLE MANAGEMENT Solid growth, but EBITA impacted by low utilization Highlights Q1 Q1 Rolling • Net sales increased by 28% to SEK 433 m, currency 2023 2022 Change 12m adjusted organic growth 13% Net sales, SEK M 433 338 28% 1,675 ◦ UK and US businesses experienced continued positive EBIT
Slide 10: Process Management: Organic growth, continued to outperform the market
PROCESS MANAGEMENT Organic growth, continued to outperform the market Highlights Q1 Q1 Rolling • Net sales increased by 16% to SEK 335 m, organic 2023 2022 Change 12m growth 10% Net sales, SEK M 335 288 16% 1,229 ◦ Organic growth remained good, however, municipalities and EBITA, SEK M 64 60 7% 230 p
Slide 11: Acquisitions 2023 YTD
ACQUISITIONS 2023 YTD FAST2 Key Performance Leading Swedish supplier of Partner to Dassault Systèmes, business systems for real estate operating in North America and companies. Its proprietary Europe. Focused on Model- business system is used by nine Based Systems Engineering out of 13 of the larges
Slide 12: Consolidated Cash Flow Q1 2023
CONSOLIDATED CASH FLOW Q1 2023 Q1 Q1 FY Cash flow, SEK m 2023 2022 Change 2022 Operating profit 149 134 15 527 Adjustments for non-cash items 80 45 35 294 Other -38 -30 -8 -144 Cash flow from operations before working capital changes 191 149 42 677 Changes in working capital 78 93 -15 37 Cash flow f
Slide 13: Consolidated Financial Position March 31, 2023
CONSOLIDATED FINANCIAL POSITION March 31, 2023 Mar 31, Mar 31, Dec 31, Balance sheet, SEK m 2023 2022 Change 2022 Change Intangible non-current assets 3 465 3 152 313 3 409 56 Other non-current assets 278 317 -39 276 2 Net working capital -672 -636 -37 -598 -75 Total assets 3 071 2 833 237 3 087 -16
Slide 14: Sustainability Agenda
SUSTAINABILITY AGENDA ❶ ❷ ❸ ❹ Digital solutions that Care for people and The way we work with Long-term financial contribute to the planet in our own our partners and viability sustainable operations suppliers development 5 Sustainability management and governance 14 INTERIM REPORT JANUARY–MARCH 202
Slide 15: Sustainability Cases Q1 2023
SUSTAINABILITY CASES Q1 2023 Full versions at https://www.addnodegroup.com/en/sustainability Fire safety planning with More efficient product development Digital dosage delivery system for Digital BIM processes with fewer faults and superior quality better health and environment Symetri, in the Desi
Slide 16: Addnode Group as an Investment
ADDNODE GROUP AS AN INVESTMENT ❶ ❷ ❸ ❹ Sustainable digital solutions Organic and acquisition-led Attractive business model Diversification spreads risk • We provide digital solutions for growth • High share of recurring revenues. • We are active in numerous design, simulation, product data • Our str
Slide 17: Questions & Answers
QUESTIONS & ANSWERS 17 INTERIM REPORT JANUARY–MARCH 2023
Slide 18: Appendix
APPENDIX 18 INTERIM REPORT JANUARY–MARCH 2023
Slide 19: Organic and acquisition-led growth strategy
ADDNODE GROUP Organic and acquisition-led growth strategy ORGANIC ACQUISITIONS Decentralised Complementary responsibility and business or authority markets Strategic support Values based leadership Synergies and collaboration Attractive valuation OUR STRATEGY We create sustainable growth in value by
Slide 20: Acquisitions 2023 YTD
ACQUISITIONS 2023 YTD FAST2 Key Performance Leading Swedish supplier of Partner to Dassault Systèmes, business systems for real estate operating in North America and companies. Its proprietary Europe. Focused on Model- business system is used by nine Based Systems Engineering out of 13 of the larges
Slide 21: Acquisitions 2022
ACQUISITIONS 2022 Claytex Desys Microdesk Decisive Claytex specializes in advanced DESYS service offering is based Microdesk is a Platinum partner Rule-based decision simulation and virtual testing, on Dassault Systèmes’ platform, to Autodesk and provides con- management systems. Assists with focus
Slide 22: Acquisitions 2022, cont.
ACQUISITIONS 2022, cont. JBL JBL’s service offering is based on Dassault Systèmes’ platform, the team adds resources and competence within oil and gas, infrastructure and renewable energy. Division Product Lifecycle Management New employees 2 Annual sales 15 SEK M 22 INTERIM REPORT JANUARY–MARCH 202
Slide 23: Acquisitions 2021
ACQUISITIONS 2021 S-Group Solutions Elpool Procad Budsoft Specialised in business- Develops digital solutions Autodesk partner and a Budsoft is a Poland related GIS solutions for that offers many features that trusted advisor to many of based, Dassault Systèmes municipalities, water and is used by p
Slide 24: Acquisitions 2020
ACQUISITIONS 2020 Excitech Unizite Netpublicator Scanscot Technology Largest Autodesk partner in UK Norwegian developer of a Develops digital services for Swedish Dassault Systèmes market and leading provider of mobile field tool that makes efficient document and meeting partner. Nordic leader in de
Slide 25: Shareholders March 31, 2023
SHAREHOLDERS March 31, 2023 Share Voting Shares class A Shares class B capital, % rights, % Managements shareholdings Aretro Capital Group AB 2,041,328 5,198,496 5.4 15.1 • Johan Andersson, CEO, 393,912 shares and Verg AB 1,446,668 1.1 8.5 18,000 call options for 72,000 B-shares. SEB Fonder 13,341,2
Slide 26: Addnode Group, Share Price Development 2023 YTD
ADDNODE GROUP, SHARE PRICE DEVELOPMENT 2023YTD 22-12-30 23-04-18 Change, % Addnode Group 98.40 127.40 29 Nasdaq Stockholm 781.86 858.73 10 • May 17 2022, first day of trading after share split 4:1. • June 1, 2022, Addnode Group was added to the index Stockholm Benchmark. • January 2, 2023, Addnode G