Zalaris Asa · OSL:ZAL

Zalaris Asa — Q4 2024 Earnings Presentation

24 slides from Zalaris Asa's earnings presentation, Feb 28, 2025

Slide 1: Zalaris ASA Presentation of financial results Q4 2024
28th of February 2025 Zalaris ASA Presentation of financial results Q4 2024 © zalaris 2025
Slide 2: Disclaimer
Disclaimer The following presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be communicated (“relevant persons”). Any person who is not a relevant person should not act or rely on this presentation or any of its contents. This presentation doe
Slide 3: Agenda
Agenda Today’s presenters Highlights Financial review Outlook Q&A Appendix: Company in brief Hans-Petter Mellerud Gunnar Manum CEO and Founder CFO © zalaris 2025
Slide 5: All time high revenue and adj. EBIT in Q4 2024
All time high revenue and adj. EBIT in Q4 2024 Strong growth: Revenue increased 16.5% YoY to NOK 365 million with Net Revenue Retention in Managed Services of 104% High EBIT: adj. EBIT of NOK 47.4 million (13.1%), up from NOK 33.4 (10.7%) last year Strong sales pipeline in both Managed Services and
Slide 6: Positive development in sales continued in Q4
Positive development in sales continued in Q4 Osnabrück Global Payroll Outsourcing City of Osnabrück for TechnipFMC UK for Highest Sales Quarter and SuccessFactors for the first Privat Public PeopleHub (SaaS) Payroll to date in APAC with IONOS for 5,400 Cloud contract covering for up to 3,000 employ
Slide 7: Managed Services grew 20% YoY to MNOK 275 and 75% of total revenue
Managed Services grew 20% YoY to MNOK 275 and 75% of total revenue. Revenue Managed Services NOK 275.3m (+20.3%) +20% Revenue in Managed Services 275.3 268.6 grew by 20.3% YoY (+17.3% growth YoY when adj. for 253.7 currency effects) 242.3 232.7 228.9 104% Net Revenue Retention YoY in constant curren
Slide 8: Consulting revenue was 3% lower YoY mainly due to less consulting projects in UK
Consulting revenue was 3% lower YoY mainly due to less consulting projects in UK Revenue Consulting (Professional Services) Revenue in Professional NOK 72.7m (-3.5%) Services was 3.5% lower -3.5% YoY (-5.3% when adjusted 75.3 76.8 for currency effects). 72.3 72.9 71.6 72.7 71.4 Revenue reduction is
Slide 10: Revenue increased by 17% for the quarter YoY in constant currency
Revenue increased by 17% for the quarter YoY in constant currency Revenue NOK 364.9m (+16.5%) 17% 14% Revenue growth (as reported) 364.9 356.2 for the quarter YoY: +16.5% 313.2 Revenue growth +13.6% YoY in constant currency* MS +20.3% to NOK 275m • Net retention of 104% PS -3.5% to NOK 73m Net new S
Slide 11: Strong revenue visibility through 2025/26 based on signed contracts
Strong revenue visibility through 2025/26 - full annual effect of new BPO customers should result in >12% revenue increase compared to revenue FY 2024 Revenue development based on signed MS contracts (NOKm) 339 Total annual revenue expected to increase by ~NOK 168m (+12%) vs. FY 2024 by Q1’26, based
Slide 12: All time high adj. EBIT for the quarter
All time high adj. EBIT for the quarter Adj. EBIT* (NOKm) and margin (%) Adj. EBIT NOK 47.7 (NOK 33.4m) +42% 13.1% Adj. EBIT margin 13.1% (+2.4pp) 10.7% 10.9% 10.9% EBIT and margin improvements from increased 8.8% revenue (lower unit cost) and operational 47.4 improvements in NE and Germany (e.g. la
Slide 13: Condensed Profit and Loss
Condensed Profit and Loss 2024 2023 2024 2023 * (NOK 1 000) Oct-Dec Oct-Dec Jan-Dec Jan-Dec Revenue 364 876 313 211 1 346 282 1 133 971 License costs 28 711 26 498 108 074 103 231 % of revenue 7,9 % 8,5 % 8,0 % 9,1 % Personnel expenses 174 545 153 650 674 778 589 845 % of revenue 47,8 % 49,1 % 50,1
Slide 14: Operating cash flow increased by NOK 13m YoY to NOK 57m
Operating cash flow increased by NOK 13m YoY to NOK 57m Development in cash balance (NOKm) -15.0 Cash flow from -2.0 -8.8 operating activities of -9.3 13.3 -4.9 -1.6 -2.2 221.8 NOK 57.4m vs. NOK 72.2 44.1m last year Cash balance at 31 180.1 December NOK 221.8m (+NOK 41.7m from Q3) Net interest-beari
Slide 16: On track delivering target revenue of NOK 1.5bn by 2026 and tightening adj. EBIT target
On track delivering target revenue of NOK 1.5bn by 2026 and tightening adj. EBIT Key growth and target to 13-15% based on 2024 actuals margin initiatives Revenue development and revenue target 1,630 Revenue growth ahead of target 1 run rate of NOK 1.5 billion by NOKm 1,346 1,500 2026 as this likely
Slide 17: Summary: Q4 all-time high revenue and EBIT
Summary: Q4 all-time high revenue and EBIT as improvements in Germany continue to materialize • Revenue grew 16,5% to NOK 365 million for the quarter and well positioned to deliver revenue target of 1,5 billion in 2025 • Growth continue with contract signings of almost 140 million to be recognized o
Slide 20: Payroll & HR solutions that enable digital organizations
Payroll & HR solutions that enable digital organizations Zalaris is a leading European provider of global payroll and human capital management solutions delivered through software as a service, 1,500,000 ~1,100 340,000+ outsourcing, or consulting delivery models Employees served monthly Zalaris empl
Slide 21: Zalaris' Product offering covering the full employee life cycle
Zalaris’ Product offering covering the full employee life cycle HR system Benefits Country specific Employee self Organizational Employee Co2 Document management locations services structures footprint archive Payroll Cloud Global Payroll Payroll payroll payroll hr-automation HR-transformation Workf
Slide 22: Services delivered by two integrated business units
Services delivered by two integrated business units with most revenues being recurring of nature Managed services (MS) Professional services (PS) Zalaris’ cloud solution and comprehensive payroll and HR outsourcing services Consulting services including delivery of traditional consulting projects as
Slide 23: Diversified and large customer base comprising blue-chips across multiple industries
Diversified and large customer base comprising blue-chips across multiple industries Managed Services Professional Services Private and public >1,000 employees >2 countries Software agnostic >1,000 employees SAP integration sector BERLIN Bank, Insurance & Financial services Health & Life Science Inf
Slide 24: Thank you!
We simplify HR and payroll administration, and empower you with useful information so that you can invest more in people. Thank you! Zalaris ASA | +47 4000 3300 | www.zalaris.com Simplify work life. Achieve more. © zalaris 2025

Zalaris — Q4 2024 Earnings Presentation on 6ix

Zalaris Asa — Q4 2024 Earnings Presentation

Slide 1: Zalaris ASA Presentation of financial results Q4 2024

Slide 2: Disclaimer

Slide 3: Agenda

Slide 4: Highlights

Slide 5: All time high revenue and adj. EBIT in Q4 2024

Slide 6: Positive development in sales continued in Q4

Slide 7: Managed Services grew 20% YoY to MNOK 275 and 75% of total revenue

Slide 8: Consulting revenue was 3% lower YoY mainly due to less consulting projects in UK

Slide 9: Financial Review

Slide 10: Revenue increased by 17% for the quarter YoY in constant currency

Slide 11: Strong revenue visibility through 2025/26 based on signed contracts

Slide 12: All time high adj. EBIT for the quarter

Slide 13: Condensed Profit and Loss

Slide 14: Operating cash flow increased by NOK 13m YoY to NOK 57m

Slide 15: Outlook

Slide 16: On track delivering target revenue of NOK 1.5bn by 2026 and tightening adj. EBIT target

Slide 17: Summary: Q4 all-time high revenue and EBIT

Slide 18: Q&A

Slide 19: Appendix: Company in brief

Slide 20: Payroll & HR solutions that enable digital organizations

Slide 21: Zalaris' Product offering covering the full employee life cycle

Slide 22: Services delivered by two integrated business units

Slide 23: Diversified and large customer base comprising blue-chips across multiple industries

Slide 24: Thank you!