Webstep As · OSL:WSTEP
Webstep As — Q2 2022 Earnings Presentation
23 slides from Webstep As's earnings presentation, Aug 24, 2022
Slide 1: Q2 2022
Q2 2022 Save Asmervik, CEO 24 August 2022 | Oslo
Slide 2: Agenda
Agenda 1. Highlights 2. Business review 3. Financial review 4. Outlook
Slide 3: Highlights from the quarter
Highlights from the quarter
Slide 4: Highlights
Number of employees (EoP) Highlights ● Exceeding 500 employees ○ 507 employees at the end of the quarter ○ Increase of 68 employees over the last twelve months (+15.7%) Revenues (LTM) ● Revenues ○ 215.1 MNOK for the quarter (+10.0%) ○ 833.4 MNOK for last twelve months (+15.0%) ○ Increased revenues d
Slide 5: Business review
Business review
Slide 6: Launching Webstep Initium
Launching Webstep Initium ● Strategic move to access more talents ● Improving team dynamics and diversity ● Proactively shaping tech talents ● Program already in place 6
Slide 7: Market fundamentals
Market fundamentals ● High demand and continued growth Digitalization of business Cyber security and processes information security ● Increased need for team deliveries ● In sync with market trends ● Global tech vendors dominating Transformation of Increased automation business models leveraging IoT
Slide 8: Go-to-market model
Go-to-market model Experts for hire IT Expert House Client run projects Services and solutions based on leading tech platforms Team-as-a-Service (TaaS) Cloud, AI, AR/VR, Blockchain, IoT, Security Webstep run projects System development, architecture, UX and project Projects & Solutions management WE
Slide 9: Developing the world’s smartest charging device for cars
Developing the world’s smartest charging device for cars ● Optimized charging services and facilities boosting the green shift in the energy sector ● Webstep as a competency partner since 2019 ● Development and design project with 9 dedicated resources ● Successfully contributing to projects related
Slide 10: Ensuring safety in the construction and tunnel industry
Ensuring safety in the construction and tunnel industry ● Technology partner with Effera ● Webstep supporting the development of digital solutions based on IoT technology ● Back-end and front-end developers from Webstep working on improving safety and tracking applications Effera supplies a wide ran
Slide 11: Organization and employees
Organization and employees 65 Trondheim ● Strong local presence ○ Close to the Customer (+5) ○ Strategic Partner 79 Bergen ● Improving the Webstep employee work experience (+16) 175 Oslo ○ Investing in our experts Uppsala 19 ○ Facilitating collaboration and knowledge (+13) sharing Haugalandet (+5 9
Slide 12: Financial review
Financial review
Slide 13: Key figures - Group
Key figures - Group Q2 Q2 Y/Y YTD YTD Y/Y FY Highlights NOK million 2022 2021 change 2022 2021 change 2021 Revenues 215.1 195.5 10.0% 448.1 389.8 15.0% 775.0 ● Employee growth YoY +68 EBITDA 18.4 23.4 -21.5% 47.1 45.1 4.4% 81.2 ● Stable revenue growth +10% EBITDA margin 8.5% 12.0% -3.4 pts 10.5% 11.6
Slide 14: Key figures - Norway
Key figures - Norway Highlights Q2 Q2 Y/Y YTD YTD Y/Y FY NOK million 2022 2021 change 2022 2021 change 2021 ● Employee growth YoY +50 ● Revenue Revenues 183.5 168.6 8.9% 385.7 334.2 15.4% 668.4 EBIT 12.6 18.5 (32.1%) 33.5 34.3 (2.6%) 61.1 ○ Norwegian segment represents 85% EBIT margin 6.9% 11.0% -4.1
Slide 15: Key figures - Sweden
Key figures - Sweden Highlights Q2 Q2 Y/Y YTD YTD Y/Y FY NOK million 2022 2021 change 2022 2021 change 2021 ● Employee growth YoY +18 Revenues 31.6 27.0 17.3% 62.4 55.5 12.5% 106.7 ● Revenue growth EBIT 0.9 1.3 (32.8%) 3.9 3.6 7.6% 4.8 EBIT margin 2.8% 5.0% -2.1 pts 6.2% 6.5% -0.3 pts 4.5% ● Swedish
Slide 16: Outlook
Outlook
Slide 17: Outlook
Outlook ● Positive market outlook ○ High demand for Webstep services and consultants ● Fierce competition to attract talent ○ Effective recruitment and retention key to success ● Capacity growth ○ Expect to be more than 530 employees by end of Q3 ● Improved profitability expected by year end ● Main f
Slide 18: Questions?
Questions? Please contact us at ir@webstep.com
Slide 19: Appendix
Appendix
Slide 20: A diversified customer base
A diversified customer base Top 10 customers represent 35% of total revenues 20
Slide 21: Cash flow and net debt
Cash flow and net debt Highlights ● Q2 free cash flow of MNOK 6.9 ● Dividend payout of NOK 1.70 per share ● Capex relates to office and equipment ● Credit facility of NOK 110m in Norway and SEK 5m in Sweden per end of quarter 30 June NOK million 2022 Cash and cash equivalents* (26.8) Restricted cash 2.3
Slide 22: Top 20 shareholders at 19 August 2022
Top 20 shareholders at 19 August 2022 22
Slide 23: Disclaimer
Disclaimer This Presentation includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. These statements and this Presentation are based on current expectations, estimates and projections abo