Trifork Group AG · OMXCOP:TRIFOR
Trifork — Q3 2022 Earnings Presentation
29 slides from Trifork's earnings presentation, Nov 2, 2022
Slide 1: Organic Growth and improved profitability
Q3 & 9M 2022 REPORT INVESTOR/ANALYST PRESENTATION 2 NOVEMBER 2022 Organic Growth and improved profitability
Slide 2: Presenters
PRESENTERS CEO - MEMBER OF EXECUTIVE MANAGEMENT CFO - MEMBER OF EXECUTIVE MANAGEMENT Jørn Larsen Kristian Wulf-Andersen Year of joining EM 1996 Year of joining EM 2007 Year of birth 1966 Year of birth 1971 Nationality Danish Nationality Danish Educational background Mechanical engineering degree - C
Slide 3: Disclaimer - Important Information
DISCLAIMER ・ IMPORTANT INFORMATION This presentation contains forward-looking statements including, but not limited to, statements and expectations concerning expected or projected earnings, strategies, trends and developments. Forward-looking statements are statements (other than statements of hist
Slide 4: Organic Growth and improved profitability
Q3 & 9M 2022 REPORT INVESTOR/ANALYST PRESENTATION 2 NOVEMBER 2022 Organic Growth and improved profitability
Slide 5: Continuous Growth
Continuous Growth Revenue from acquisitions Revenue 180 - 185 2022 revenue guidance 158.5 20.5 138.0 1.4 133.7 115.4 106.4 86.5 GR CA 24 % 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022G 5 
Slide 6: Main Events
Main Events BUSINESS HIGHLIGHTS IN Q3 2022 Organization Run 1 - LTM churn rate improved from 17.0% at the end of Q2 2022 to 15.2% 4 - 36.2% organic revenue growth in the quarter at the end of Q3 2022 (15.6% in 2021) - Non-capitalized investments of EURm 0.2 in new operation - Sick leave percentage i
Slide 7: Financial highlights
Financial highlights REVENUE GROWTH KEY FINANCIALS KEY STATISTICS Organic growth ▪︎ 62 Business Units In-organic growth EUR 43.4 m 18.6% ▪︎ 25 Active Trifork Labs Startups Revenue Q3 2022 organic Q3 2022 revenue revenue growth ▪︎ 1,044 Employees Deconsolidated revenue ▪︎ 38.5 million views on GOTO Y
Slide 8: Trifork's Inspire - Build - Run, Trifork's R&D
Trifork’s Inspire - Build - Run Trifork’s R&D ▪︎ 62 business units across 12 countries ▪︎ 25 active Labs investments ▪︎ Majority & active controlling ▪︎ Minority investments 8 
Slide 9: The Trifork go to Market Model
The Trifork go to Market Model 2.4% Inspire ▪︎ Q3 2022 revenue of EURm 0.6 (same amount in 2021) ▪︎ No major conference activities in the quarter Build 21.5% ▪︎ Q3 2022 revenue of EURm 33.9 (17.1% organic growth, adjusted for deconsolidation) ▪︎ Adjusted EBITDA margin in the quarter of 22.9% ▪︎ Grow
Slide 10: Self-scanning and payment solution in one app
SMART ENTERPRISE Self-scanning and payment solution in one app - Scan and pay solution with built-in tutorials - Integrated with existing point of sales-& ERP system “Our idea was to create the - Features Geolocation to ensure the proper store is selected best app possible, without needing a MVP. Tr
Slide 11: Trifork Business Areas
Trifork 12.5% 10.1% 3.5% Business Areas 46.3% 8.9% 16.1% 11 Balloons: Percentage of 9M 2022 Group revenue 
Slide 12: Business Area highlights - Verticals
Business Area highlights - Verticals Fintech 12.5% Digital Health 10.1% Smart Building 3.5% (1) (1) (1) ▪︎ Existing strategic customers & new ▪︎ Delivering first prototype of products to new ▪︎ Continued work with partners: Siemens, collaborations Swiss healthcare with Blue Space Ventures / Laufen G
Slide 13: Business Area highlights - Horizontals
Business Area highlights - Horizontals Smart Enterprise 46.3% Cyber Protection 8.9% Cloud Operations 16.1% (1) (1) (1) ▪︎ Public: In corporation with other partners ▪︎ Increased demand for managed security ▪︎ Further development of our operations setup selected to develop new Danish services and our
Slide 14: Trifork Labs Activities Q3 2022 - Go-to-market model
Trifork Labs Activities Q3 2022 Go-to-market model ▪︎ New investment in Fauna. The purpose of this investment is to create a medical-record-systems for pets and connect this to existing Inspire = veterinarian systems. ▪︎ Impairment of ComplyTeq, as the company expects to cease its activities Build =
Slide 15: ESG update
STATUS SEPTEMBER 2022 ESG update ESG principles and rating ▪︎ Compliance - EU Sustainability Taxonomy reporting and United Nations Global Compact participant in 2022 ▪︎ First ESG-rating from S&P in Q2 and filed updated information in Q3.. Rating will be updated by S&P latest in June 2023 Environment
Slide 16: Financial performance
Financial performance TRIFORK.
Slide 17: Trifork Group / Trifork segment Performance
Trifork Group / Trifork segment Performance REVENUE Q3 2022 Organic growth In-organic growth 18.6% ▪︎ 17.6% total revenue growth compared to Q3 2021 Revenue 16.2% ▪︎ 20.3% organic growth when taking deconsolidation into Deconsolidated revenue account 135.1 ▪︎ 65% of revenue from private and 35% from
Slide 18: Trifork Segment Performance
Trifork Segment Performance ADJUSTED EBITDA EBITDA Q3 2022 ▪︎ Adj. EBITDA ▪︎ No adjustments for special items in Q3 2022 and Q3 2021 ▪︎ Up by 24.6% compared to Q3 2021 4.5% 14.6% ▪︎ EURm 7.8, equal to margin of 17.9% compared to 16.9% in Q3 2021 18.3% 16.4% 16.7% 16.4% 24.6% 24.6% 16.9% 17.9% 16.9%
Slide 19: Trifork Group Performance
Trifork Group Performance ADJUSTED EBIT EBIT Q3 2022 ▪︎ Adj. EBIT ▪︎ No adjustments for special items in Q3 2022 and Q3 2021 7.1% 28.2% ▪︎ EBIT ▪︎ Up to EURm 4.5 compared to EURm 3.1 in 42.4% 9.0% 42.4% 9.0% Q3 2021 9.8% 8.2% ▪︎ Margin of 10.3% compared to 8.5% in Q3 2021. This is considered accepta
Slide 20: Trifork Segment Performance
Trifork Segment Performance REVENUE BY SUB-SEGMENTS (EURM) ADJ. EBITDA AND MARGINS BY SUB SEGMENT IN 9M 2022 Inspire Build -13.4% 21.2% 15.6% n.m. 16.4% Run Others 21.5% 75.9% 2.4% 20 
Slide 21: Inspire Sub-segment Performance
Inspire Sub-segment Performance REVENUE ADJUSTED EBITDA Q3 2022 Organic growth Revenue ▪︎ Revenue of EURm 0.6, like in Q3 2021 ▪︎ There were no GOTO conferences planned and held in Q3 2022 ▪︎ YOW! conferences have been acquired in Q3 143.7% 2022 3.2 ▪︎ Several in-person conferences planned for Q4 n.
Slide 22: Build Sub-segment Performance
Build Sub-segment Performance REVENUE ADJUSTED EBITDA Q3 2022 Organic growth Revenue ▪︎ 13.8% total revenue growth (17.1% organic, Deconsolidated revenue adjusted for deconsolidation effects) ▪︎ Inorganic growth from acquisition of 15.6% 12.7% 9.5% Strongminds ApS ▪︎ Growth widely distributed betwee
Slide 23: Run Sub-segment Performance
Run Sub-segment Performance REVENUE ADJUSTED EBITDA Q3 2022 Organic growth Revenue ▪︎ 36.2% total revenue growth (all organic) ▪︎ Strong growth in Cyber Protection ▪︎ Mostly recurring revenue 22.2% ▪︎ Adj. EBITDA grew by 14.2% to EURm 1.7 29.0 ▪︎ Adj. EBITDA margin of 19.0%, down from 22.6% in Q3 20
Slide 24: Run Sub-segment revenue split
Run Sub-segment revenue split Licenses and support Hardware Hosting and security EBITDA Margin 12000 12.1% 16.2% 23.5% 28.3% 16.4% 19.0% 9000 28.5% 20.6% 22.7% 22.6% 15.7% 6000 3000 0 Q1/2020 Q2/2020 Q3/2020 Q4/2020 Q1/2021 Q2/2021 Q3/2021 Q4/2021 Q1/2022 Q2/2022 Q3/2022 24 
Slide 25: Labs Segment Performance
Labs Segment Performance EBT (EURM) INVESTMENTS (EURM) Cash / cost in active investments Acc. unrealized gain Acc. realized gain (1) (1) (1) Cash invested EURm 18.8 / Value retained from deconsolidated companies EURm 20.3 25 
Slide 26: Cash flow and financial position
Cash flow and financial position NET LIQUIDITY/(DEBT) Q3 2022 Leverage ratio (net debt/adj. EBITDA) ▪︎ Operating cash flow of EURm 6.0 (EURm 0.5 in Q3 2021) -1.0 - Net income of EURm 4.1, including EURm 3.2 non-cash -0.9 costs -0.6 - Net increase in net working capital of EURm 1.3 due to -0.7 growth
Slide 27: Guidance (unchanged)
Guidance (unchanged) 2022 TARGETS Trifork segment adjusted Trifork Group Trifork Group revenue EBITDA EBIT Guidance 2022 EUR 180 - 185m EUR 30.5 - 33.0m EUR 16.5 - 19.0m 27 
Slide 28: We change the world with software.
We change Fast-growing and attractive market the world with Full-circle go-to-market model software. Forefront of innovation Track-record and profitable growth Agile teal organisation and strong team Three levels of sustainability 28 
Slide 29: Thank You!
Thank You! State of the art data center supporting 24/7 emergency hotline Quality Reporting Platform Kashet From Paper to Digital providing Security, Quality Transforming the Danish Prenatal Record and Process Optimization Reducing baggage delays with Machine Learning Increased speed and efficiency