Gigas Hosting Sa · BME:GIGA
Gigas Hosting Sa — H1 2019 Earnings Presentation
17 slides from Gigas Hosting Sa's earnings presentation, September 2019
Slide 1: H1 Results Investors Presentation
H1 Results Investors Presentation Diego Cabezudo CEO SEPTEMBER 2019
Slide 2: Disclaimer
gigas Disclaimer This document and the conference-call webcast (including the Q&A session) may contain forward-looking statements and information (hereinafter, the “Information”) relating to GIGAS HOSTING S.A. or GIGAS GROUP (hereinafter “Gigas”, the “Company“ or the “Gigas Group"). This Information
Slide 3: Gigas' Timeline
Gigas’ Timeline Leading provider of cloud computing services in Spanish-speaking markets
Slide 4: H1 2019 Key Highlights
H1 2019 Key Highlights Strong YoY growth with H1 net revenues up 25.8%, despite slow growth in Q2’19 EBITDA reaches €1.28M in H1, more than triple the EBITDA H1’18 and 22.0% higher than budgeted Achieved positive net result for the second semester in a row (€155K in H1’19) Cash flow from Operations
Slide 5: Customer Figures
Customer Figures About Gigas • Cloud VPS customers reached 2,997 at the • Cloud Datacenter ARPU decreased in H1’19 to end of June 2019, 267 less than a year earlier, €1,158/mo. (€1,224 in 2018) due mainly to loss but in line with Gigas’ strategy of focusing on of a large contract with a partner grea
Slide 6: Revenues H1 2019
Revenues H1 2019 About Gigas • Gross revenues reached €5.76 million in H1 2019, 24.9% higher than H1 2018, on budget (1.9% higher). Net revenues reached €4.95M in H1 2019, 25.8% higher than the €3.94M in H1 2018, on budget (0.9% lower) • Q2 Net revenues €80 thousand lower than budgeted (-3.1%) due p
Slide 7: EBITDA H1 2019
EBITDA H1 2019 About Gigas • H1 2019 EBITDA 211.1% higher than in H1’18 (€0.41M), reaching €1.28M in the semester (25.9% of net revenues vs. 21.0% in budget or 10.5% a year ago) • EBITDA in the semester significantly higher than budgeted (22.0%) as expected cost increases from software licenses, per
Slide 8: H1 2019 Results vs. H1 2018 and vs. Budget
H1 2019 Results vs. H1 2018About and vs.Gigas Budget CONSOLIDATED INCOME STATEMENT 2019 2019 2019 2018 2019 budget Figures in EUR JAN-MAR APR-JUN JAN-JUN JAN-JUN JAN-JUN Gross sales 3,036,615 2,720,237 5,756,853 24.9% 4,609,370 1.9% 5,651,480 Accrued sales (148,969) 132,820 (16,149) (52.7%) (34,117)
Slide 9: 2019 Budget
4 2019 Budget 2019 CONSOLIDATED BUDGET EUR Q1 Q2 Q3 Q4 2019b Gross sales 2.766.364 2.885.117 2.975.718 3.205.072 1.832.270 Accrued sales (12.351) (9.292) 64.910 (28.217) 15.050 Sales discounts and promotions (312.628) (317.968) (310.054) (336.704) (1.277.354) Own R&D costs capitalised 61.236 59.236
Slide 10: H1 2019 Results
H1 2019 Results • Amortizations grew significantly (€883K in H1’19 vs €645K in H1’18) linked to the inclusion of Customer Relations as Intangible Assets last year, from the companies acquired • Financial expenses increased due mostly to the convertible bonds issued in April 2018, reaching €179K (€91
Slide 11: H1 2019 Balance Sheet
H1 2019 Balance Sheet About Gigas • Investment in property, plant and equipment was €0.34 million, out of a budget of €1.02M for the full year (6.8% capex-to-sales ratio) • The Company ended the first half of 2019 with gross financial debt of €3.72 million (€4.32 million at the end of 2018), excludi
Slide 12: CAPEX Evolution 2016-2019
CAPEX Evolution 2016-2019 • CAPEX to Sales ratio continues to improve; expected to end 2019 in the region of 10% • Most CAPEX related to growing capacity for new customers, while maintenance or replacement CAPEX still very limited • R&D works capitalized not included as CAPEX Figures in Thousands of
Slide 13: Cashflow Statement
Cashflow Statement Figures in Euros 2019 H1 • The Company used over €149K of cash EARNINGS BEFORE TAXES 214,568 for financial costs and taxes Result Adjustments 832,087 • A total of €711K were used to repay Changes in accruals and bad debt (12,887) D&A 882,942 financial debt and €164K to settle debt
Slide 14: Debt Evolution
Debt Evolution Net Financial Debt • Net Financial Debt / EBITDA ratio continues Figures in to improve, reaching 0.7x in June (calculated Thousands of Euros over expected full year EBITDA) • With the full repayment of all R&D Government soft loans at the beginning of 2020, gross debt position lowers
Slide 15: Share Evolution and Analysts' Reports
Share Evolution and Analysts’ Reports • Share price closed the first semester of the year at €7.10, 9.2% increase from the €6.50 share price at end of 2018 • Share Price currently at €7.00 (Sep 24th), representing an increase of 7.7% YTD • Share price target by GVC Gaesco set at €10.00 (May 28th)
Slide 16: Q&A
Q&A H1 2019 Results Investors Presentation gigas Diego Cabezudo CEO
Slide 17: Investor Relations
Investor Relations: investor@gigas.com accionista@gigas.com