Gigas Hosting Sa · BME:GIGA
Gigas Hosting Sa — FY2020 Earnings Presentation
22 slides from Gigas Hosting Sa's earnings presentation, April 2021
Slide 1: Full Year 2020 Results and Corporate Transactions Presentation
Full Year 2020 Results and Corporate Transactions Presentation APRIL 2021 Diego Cabezudo CEO gigas
Slide 2: Disclaimer
gigas Disclaimer This document and the conference-call webcast (including the Q&A se: sion) may contain forward-looking statements and information (hereinafter, the “Information”) relating to GIGAS HOSTING S.A. or GIGAS GROUP (hereinafter “Gig: the “Company* or the “Gigas Group"). This Information m
Slide 3: Leading provider of cloud computing services in Spain, Portugal and Latam
Leading provider of cloud computing services in Spain, Portugal and Latam First Converged Telco&Cloud Operator in the Iberian Peninsula
Slide 4: FY 2020 Key Highlights
FY 2020 Key Highlights FY20 net revenues up 6.0% YoY (but 10.5% lower than expected). Revenue affected by LATAM exchange rates and Covid-19 Adj. EBITDA €2.7M (€2.1M accounting) in 2020 slightly lower than in 2019, due to FX, higher discounts and M&A costs Net loss of €0.46M, mainly due to higher amo
Slide 5: Customer Figures
Customer Figures « Cloud VPS customers reached 2,509 at the end of 2020, 337 less than a year earlier, but in line with Gigas’ strategy of focusing on greater added value customers ° Cloud Datacenter, aimed at medium and large corporates, is Gigas’ main product, accounting for 92.0% of gross revenue
Slide 6: Revenues FY 2020
Revenues FY 2020 ° Gross revenues reached €12.86 million in 2020, 8.6% higher than in 2019. Revenues lower than expected due to customers losses and lower sales over the pandemic period, but especially to exchange rate differences (45,2% of total gross revenues come from Latam, with currency drops o
Slide 7: EBITDA
EBITDA ° Accounting EBITDA ended the year at €2.1M down from €2.5M in 2019 and below the €3.2M budgeted for the year due to lower revenue, higher discounts and higher M&A related costs ° A total of €313.5K of M&A costs and €284.1K stock options related costs (no cash outflow) in the year. Excluding
Slide 8: 2020 Results Compared to 2019 and Budget
2020 Results Compared to 2019 and Budget CONSOLIDATED INCOME STATEMENT 2020 2019 2020 budget EUR JAN-DEC Chg.(%) JAN-DEC Chg. (%) JAN-DEC Gross sales 12.862.085 86% 1.846.249 (6,7%) 13.791.095, Accrued sales (20.928) (128,6%) 73.29 (192,2%) 22.699 Sales discounts and promotions (2.001.077) 18,3% (1.
Slide 9: Detailed Quarterly 2020 Results
Detailed Quarterly 2020 Results CONSOLIDATED INCOME STATEMENT 2020 2020 2020 2020 2020 EUR JAN-MAR APR-JUN JUL-SEP OCT-DEC _JAN-DIC Gross sales 3.200.613 2.844.194 3.060.990 3.756.287 12.862.085 Accrued sales (125.410) 127.082 56.883 (79.483) (20.928) Sales discounts and promotions (444.114) (464.54
Slide 10: 2020 Results
2020 Results Amortizations grew significantly (217M in 2020 vs €1.83M in 2019) mostly related to Customer Relations and Good Will from acquisitions Financial expenses reached €403K in 2020 (€360K in 2019), mostly from the convertible bonds issued in April 2018, although €162K are non cash Net Loss o
Slide 11: 2020 Balance Sheet
4 2020 Balance Sheet * Intangible assets and cash grew substantially linked to the Ignitar acquisition and capital increases ° CAPEX was €0.65M although extra equipment inherited from Ignitar (6.0% capex-to- sales ratio) ° The Company ended 2020 with total gross financial debt of €8.32M (€5.22M in 2
Slide 12: Figures in Thousands of Euros
• • • Figures in Thousands of Euros Capex to Sales (excl. M&A)
Slide 13: Cash flow statement
Figures in Euros 2020 • EARNING BEFORE TAXES (649.400) Result Adjustments 2.511.237 Changes in accruals and bad debt (15.956) D&A 2.169.617 Other non-cash items (R&D capital, ESOP, Subsidies…) (224.324) • Net financial result 581.900 Changes in working capital 1.137.323 Interest and taxes outflows (
Slide 14: NFD / EBITDA Proforma 2021: 1,08x
• Figures in Thousands of Euros • Figures in Euros * Figures in • NFD / EBITDA Proforma 2021(€12,0M): 1,08x Thousands of Euros • • •
Slide 15: Figures in Thousands of Euros
• • • Figures in • Thousands of Euros • • Figures in Euros Figures in * Thousands of Euros • • •
Slide 16: Inorganic Growth
Inorganic Growth Ll ° Gigas has been acquiring cloud service providers with good business customer bases or specialization which have brought volume and_ significant synergies within the cloud field * Two companies acquired during 2018, SVT (€0.8M revs, Spain) and Ability (€1.6M revs, Colombia) ° AH
Slide 17: Portfolio of Telco Customers from MasMovil
vy Portfolio of Telco Customers from MasMovil ° Portfolio of about three thousand medium and large business customers with telco services in Spain from MasMovil ° Fixed voice * Connectivity * Cloud and housing ° SMS ° Revenues of €9.2M in 2020 with a gross margin of almost 50% ° Includes headcount o
Slide 18: ONI Acquisition
4 ONI Acquisition ° Acquisition of leading B2B telco in Portugal, with about 1,100 business and wholesale (other telcos) customers, and voice, data, security and datacenter services ° 2020 revenues reached €35.2M, split in wholesale, corporate and enterprise customers ° National network has been dem
Slide 19: 2021 Budget
2021 Budget vy New strategy to offer converged telco/cloud/cybersecurity services fueled by acquisitions which have changed the scale of the Company Net revenues estimated to reach €48.9M, 4.5x 2020 revenues and EBITDA estimated to reach to €10.7M, 5x 2020 accounting EBITDA. Lower gross acquisitions
Slide 20: Share Evolution
Share Evolution Share started at €6.82 in 2020 and rallied at the end of the year, due to large corporate transactions, ending at at €11.50, a 68.6% increase during the year Share Price closed at €10.45 (-9.1% down ytd) yesterday but still a significant premium (67.2%) since last capital increase in
Slide 21: Q&A - FY 2020 Results
Q&A FY 2020 Results Investors Presentation gigas Diego Cabezudo CEO
Slide 22: Investor relations contact
Investor relations contact: investor@gigas.com accionista@gigas.com — gigas