Logo Yazilim Sanayi Ve Ticaret A.s. · BIST:LOGO
Logo Yazilim Sanayi Ve Ticaret A.s — Logo Yazılım Sanayi ve Ticaret A.Ş. — 9M 2017 Earnings Presentation
17 slides from Logo Yazilim Sanayi Ve Ticaret A.s's earnings presentation, Nov 3, 2017
Slide 1: 9M2017 Results Presentation
9M2017 RESULTS PRESENTATION Gülnur ANLAŞ CHIEF FINANCIAL OFFICER November 3th, 2017
Slide 2: Disclaimer
Disclaimer This presentation contains information and analysis on financial statements as well as forward- looking statements that reflect Logo management’s current views with respect to certain future events. Although it is believed that the information and analysis are correct and expectations ref
Slide 3: Content
Content 9M17 Operating Highlights Financial Review Questions & Answers
Slide 4: Solid 3rd Quarter & 9M Results
Solid 3rd Quarter & 9M Results • Solid figures were recorded at all levels. • Invoiced revenue growth in 9M was 87% y/y, where strong double-digit organic growth of 35% y/y and the first-time consolidation of TotalSoft were the main drivers. • Top-line IFRS growth in 9M was 57% y/y, with 13% organic
Slide 5: Solid 3rd Quarter & 9M Results
Solid 3rd Quarter & 9M Results • Turkey operation’s profitability surged: EBITDA growth in Q3 was 16% yielding a margin of 55%. Net income growth in Q3 was 19% y/y with a margin of 42%. • Consolidated EBITDA grew by 7% y/y both in Q3 and 9M, albeit the dilution impact of TotalSoft yielding a 37% and
Slide 6: Recent Developments
Recent Developments • LOGO was included in the BIST Sustainability Index: Logo has become one of the 44 constituents within the BIST Sustainability Index as of November 1st, 2017. Logo’s voluntary application to become an Index member enforces Logo’s positioning as a pioneer company that always stay
Slide 7: Content
Content 9M17 Operating Highlights Financial Review Questions & Answers LOGO General IR Presentation 2014
Slide 8: Revenue Recognition
Revenue Recognition Invoices & IFRS Revenues* (TLmn) *Logo Turkey figures only. • e-government regulation requiring companies to issue e-invoices first became effective as of 1.4.2014, the scope of the regulation was then broadened effective as of 1.1.2016. Therefore, e-invoice and e- 139 ledger mod
Slide 9: Financial Summary
Financial Summary 9M 3Q YE Guidance * * * * y/y LfL LfL y/y y/y LfL LfL y/y y/y IFRS (mn TL) 9M 16 9M 17 3Q 16 3Q17 2017G D 9M16 9M17 D D 3Q16 3Q17 D D Revenue 110.4 173.6 57% 104.7 118.1 13% 37.5 56.6 51% 31.7 40.1 26% 278.3 46% EBITDA 58.4 62.4 7% 57.7 62.6 9% 19.8 21.2 7% 19.0 22.0 16% 91.5 6% EB
Slide 10: Financial Summary
Financial Summary 9M 3Q YE Guidance * * * * y/y LfL LfL y/y y/y LfL LfL y/y y/y IFRS (mn TL) 9M 16 9M 17 3Q 16 3Q17 2017G D 9M16 9M17 D D 3Q16 3Q17 D D Revenue 110.4 173.6 57% 104.7 118.1 13% 37.5 56.6 51% 31.7 40.1 26% 278.3 46% EBITDA 58.4 62.4 7% 57.7 62.6 9% 19.8 21.2 7% 19.0 22.0 16% 91.5 6% EB
Slide 11: Invoiced Revenue vs IFRS
Invoiced Revenue vs IFRS 3Q Invoices & IFRS Revenues (TLmn) Invoiced Revenues (TLmn) CAGR: 43% +87% • 3Q invoiced revenues were139up by 83% y/y to TL52mn; w/o TotalSoft growth was 56% y/y reaching TL36mn. • 9M invoiced revenues were up by 87% y/y to TL167mn; w/o TotalSoft growth was 35% y/y reaching
Slide 12: Recurring Revenues
Recurring Revenues Recurring Invoices (TLmn) Recurring Invoices/Total Invoices (%) CAGR: 70% +87% • Strong growth in recurring invoices continued in 9M and yielded a 87% y/y growth, making up 53% of total invoices. Recurring part of invoices excluding TotalSoft increased to 56%. • LEM contract sales
Slide 13: Operational Expenses
Operational Expenses R&D Expenses(TLmn) - As % of IFRS Revenue R&D Spending(TLmn) - As % of Invoices 29% 31% 30% 41% • Overall operating expenses increased by 94% y/y, as a result of the first time consolidation of TotalSoft with opex/IFRS revenue 139 139 ratio rising from 57% in 9M16 to 70% in 9M17
Slide 14: Operational Expenses
Operational Expenses S&M (TLmn) - As % of IFRS Revenue G&A (TLmn) - As % of IFRS Revenue 17% 17% 19% 18% 9% 9% 8% 12% • S&M expenses in 9M increased by 61% y/y, and S&M expenses/IFRS revenue ratio is 18% . TS’ sales and marketing team joined Logo’s forces with 33, and TS’ S&M expenses include mostly
Slide 15: Key Financials
Key Financials Balance Sheet Highlights (TLmn) Working Capital (TLmn) 2016 9M17 D Cash & Cash Eq. 43.8 49.9 14% Trade Receivables 92.9 73.7 -21% Tangible Assets 19.0 20.3 7% Intangible Assets* 161.7 179.8 11% Other Assets 10.1 13.5 33% Total Assets 327.5 337.2 3% Total Liabilities 163.4 139.8 -14% T
Slide 16: Content
Content 9M17 Operating Highlights Financial Review Questions & Answers
Slide 17: Thank you for joining us today
Thank you for joining us today LOGO Investor Relations Team T: +90 262 679 8000 E: investor@logo.com.tr 17
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