W.a.g. Payment Solutions Plc · LSE:EWG
W.a.g. Payment Solutions — FY2024 Earnings Presentation
34 slides from W.a.g. Payment Solutions's earnings presentation, Mar 25, 2025
Slide 1: Full year results 2024
W.A.G payment solutions plc Full year results 2024 25 March 2025 1
Slide 2: Disclaimer
Disclaimer This presentation comprises certain written materials/slides prepared by W.A.G payment solutions plc (the Company) for the purposes of the Company’s investor relations presentation. This document, its contents and the presentation may not be copied, distributed, published, reproduced or p
Slide 3: Agenda
CONFIDENTIAL - INTERNAL 1 Introduction and highlights 2 Financial results 3 Strategic update 4 FY 2024 summary and FY 2025 priorities 5 Q&A 3
Slide 4: Introduction and highlights
Ew EUROWAG . @ Introduction and highlights Martin Vohanka CEO and Founder
Slide 5: FY 2024 highlights
FY 2024 highlights Strategic priorities, underpinning our growth and strong cash generation Attract Total active trucks +10% to 302,076 Financial highlights ✓ Net revenue2 +14.0% Engage Net promoter score1 +1pt to 40pts ✓ Adj. Cash EBITDA3,4 +23.2% ✓ Strong cash generation; Monetise Ave no. of produ
Slide 6: Challenging macro backdrop; some signs of recovery into FY25
Against a challenging macro backdrop; with some signs of recovery into FY25 Manufacturing PMI Loads • Flat economic environment with inflation Loads to transport capacity EU-EU3 and interest rates still hampering consumer Eurozone manufacturing purchasing managers index (PMI)1 demand and recovery in
Slide 7: Financial results
Ew EUROWAG Financial results Oskar Zahn CFO
Slide 8: FY 2024 financial highlights
FY 2024 financial highlights Continued double-digit growth; significant improvement in net leverage Net revenue1 Adj. EBITDA2 Adj. Cash EBITDA2,3 Adj. PBT2 +14.0% +12.0%w +23.2%w (€10.4)m w €292.5m €121.7m €88.7m €46.3m Margin flat 41.6% Adj. EPS2 Capitalised R&D Net leverage4 Proposed special DPS (
Slide 9: Our journey since IPO
Our journey since IPO Growth driven by reinvestment and acquisitions Net revenue growth1 (€m) Adj. EBITDA2 (€m) M&A Adj. EBITDA CAGR +24.1% CAGR +20.4% 292.5 121.7 256.5 108.7 53.2 37.9 Mobility 35.0 Capitalised R&D 190.9 43% 81.6 72.3 38.0 153.1 8.1 69.7 71.6 2.5 48.0 35.6 37.5 28.0 Adj. Cash E
Slide 10: Mid-teens growth across both payments and mobility
Mid-teens growth across both payments and mobility (€m) Total payment solutions Total mobility solutions Total Group Net revenue growth +13.6% +14.6% +14.0% Net revenue 57% 43% contribution +2.9% +50.2% +16.1% +39.3% +66.7% +6.0% (5.3)% 8.1 5.6 2.5 1.1 292.5 16.7 (1.2) 256.5 3.2 FY 2023 Energy Toll
Slide 11: Strong EBITDA growth; despite increase in credit losses
Strong EBITDA growth; despite increase in credit losses (€m) 42.4% 41.6% Margin Margin 36.0 Other operating income (7.2) (1.7) (4.7) 2.7 121.7 (4.2) 108.7 (8.0) Total credit losses €13.6m, 0.4% of gross revenue4 FY 2023 Revenue Employee Technology Credit Other FX forward Commercial FY 2024 Adjusted
Slide 12: Building the industry's first integrated digital platform
Building the industry’s first integrated digital platform Capital expenditure (€m) Transformation programme + acquisitions 50.9 50.9 FY 2024 integration and transformation + Products: FMS, TMS 3.1 46.0 43.2 8.6 and WTM Infrastructure; legacy truck parks, buildings and 8.5 3.8 IT hardware 1.4 + OBU i
Slide 13: Strong cash generation; delevered back within guidance range
Strong cash generation; delevered back within our guidance range (€m) Net leverage Free cash: €147.3m (FY23: €48.4m ) Net leverage 2.9x 2.3x 316.8 5.2 8.7 275.5 37.3 45.7 23.7 11.5 (121.7) 9.1 (14.8) (46.0) FY 2023 Adjusted Non-cash items Tax Net Working Adjusting items Capital Acquisitions² Lease O
Slide 14: Balanced capital allocation
Balanced capital allocation; reflecting Eurowag’s priorities • Continue to invest in the platform and realising operational efficiencies; driving double digit net revenue growth, improved Organic growth margins and strong cash generation. • Capitalised R&D capped at €50m1. • FY 2024 2.3x net leverag
Slide 15: Financial guidance
Financial guidance FY 2025 Net revenue • Low double-digit net revenue growth. Outlook The value creation from the new • FY 2025 margins remain flat year-on- integrated platform combined with Adjusted year; adjusted cash EBITDA1 EBITDA % operational efficiencies initiatives between €90m - €100m. mean
Slide 16: Strategic update
Ew EUROWAG he Strategic update Martin Vohanka CEO and Founder
Slide 17: Strategic priorities focused on key value drivers
Strategic priorities focused on key value drivers Attract & Engage Customer acquisition cost Customer through digital and indirect channels lifetime value ARPU No. of active trucks through cross sell; platform enables acceleration >302,000 Today ~2.7 Retention No. of products per active truck Moneti
Slide 18: Proven track record of strong cross-sell momentum
Proven track record of strong cross-sell momentum Strong growth in our developed markets Number of customers Czech and Slovakia Customers taking more than four products (CZ & SK) (000’s) 9.2 8.6 988 1,007 ✓ Strong and stable existing client portfolio 7.7 909 936 956 929 ✓ Continued focus on up-sell
Slide 19: Mission critical services integrated into one platform
Mission critical services End-to-end digital platform integrated into one platform and its front ends Energy and decarbonisation as a service Toll Fleet operation Desktop app Mobile app for owners and dispatchers Financing Financial services Back-office services Mobile app for drivers Cockpit app in
Slide 20: Eurowag Office long-term roadmap
Eurowag Office long-term roadmap 2026+ 4 Scale and expand Acquire and engage 2025 3 Expanded platform capabilities through digital through integrated customer Platform development journeys, loyalty programs 2024 2 Group FMS customers & initial rollout and dynamic pricing engagement and migration Fou
Slide 21: Eurowag Office FY 2025 priorities
Eurowag Office FY 2025 priorities 1. Energy and Toll 2. Roll out of eWallet product and customers migration c In Progress 3. Indirect digital 4. Hardware integration onboarding In Progress Migrating products into one platform; digitising products and processes 21
Slide 22: Integrating systems; improving operational efficiencies
Integrating systems; improving operational efficiencies 1 2 3 ✓ Set traffic, ✓ Finding best ✓ Monitor truck details border crossing price on times, truck ✓ Monitor driver behaviour journey restrictions to ✓ Track work time for ✓ Finding most find best route reporting and better efficient route ✓ Rea
Slide 23: Integrating navigation and payments for the driver's convenience
Integrating navigation and payments for the driver’s convenience Convenient location, best2price Enhanced security; location Range of fuels incl. alternatives 1 2 known 3 4 Card limit already set for driver 5 Digital transaction complete 23
Slide 24: Our platform will help make the CRT industry clean, fair and efficient
Our platform will help make the CRT industry clean, fair and efficient Customer success Climate action Community impact Responsible business and wellbeing 16.6% ↓ 68% customers €259,000 37% Direct emissions1 Eurowag supports their business woman in leadership roles success donated 1,537 through empl
Slide 25: FY 2024 summary and FY 2025 priorities
CONFIDENTIAL - INTERNAL FY 2024 summary FY 2025 priorities Delivered double-digit Payment solutions migrated to organic growth, despite the platform, incl. end-to-end macroeconomic digital onboarding. headwinds. 30% customers migrated onto Began phased rollout of platform, improved cross-sell. our i
Slide 26: Q&A
Ew EUROWAG Q&A Contact us for further details: investors@eurowag.com
Slide 27: Appendix
CONFIDENTIAL - INTERNAL 27
Slide 28: Revenue model
Revenue model Payment solutions Mobility solutions Re-occurring transaction-based revenue streams Recurring subscription and other fee-based revenue streams Energy payments # of transactions Transport Fleet Work time (x) management management management average units per transaction (x) Subscription
Slide 29: Alternative measures
Alternative measures Adjusted Adjusting FY 2024 Adjusted Adjusting FY 2023 items Items (€m) (€m) (€m) (€m) (€m) (€m) Net revenue 292.5 - 292.5 256.5 - 256.5 EBITDA 121.7 14.8 106.9 108.7 78.9 29.8 EBITDA margin (%) 41.6% - 36.5% 42.4% - 11.6% Depreciation, amortisation and (45.7) 19.8 (65.5) (40.4)
Slide 30: Adjusting items
Adjusting items Adjusting items Adjusted EBITDA reconciliation FY 2024 FY 2023 FY 2024 FY 2023 (€m) (€m) (€m) (€m) M&A related expenses1 6.3 4.4 Intangible assets amortisation 50.0 43.4 Strategic transformation expenses2 - 1.8 Tangible assets depreciation 9.6 8.9 ERP implementation2 and integration
Slide 31: Good control on working capital despite revenue growth
Good control on working capital despite revenue growth Working capital movement1 (€m) Gross revenue (€bn)3 500 10% 3.8 400 8% 3.3 3.2 300 6% 1.5 200 4% 1.0 2.5 1.1 100 2% 2.1 2.0 0 0% 0.9 (100) -2% 1.5 0.7 0.8 (200) aa -4% 0.6 2.4 2.2 2.1 (300) -6% 1.6 1.4 1.3 (400) -8% 0.9 (500) -10% FY 2018 FY 2
Slide 32: Renegotiated facilities; extended maturity, reduced amortisation and extended RCF
Renegotiated facilities; extended maturity, reduced amortisation and extended RCF Updated debt amortisation profile (€m) Club finance agreement1 amended to extend maturity to 2029 and reduce term loan amortisation • Facility A: €150m amortising facility with quarterly repayments plus a €57.5m balloo
Slide 33: Eurowag Office; industry-first digital platform
Eurowag Office; industry-first digital platform • Real-time monitoring of vehicles, transport and route planning from one app. Dispatcher • Access to data without switching systems or paper. • Few manual processes and real-time decision making through AI and data insight tools. • Improve driving beh
Slide 34: Net revenue geographical split
Net revenue geographical split Southern Cluster Central Cluster 3% Czech Republic 14% Poland 24% Other Central Cluster 15% 19% Portugal 28% w 28% 15% Other Western Cluster 14% 13% Romania 6% 13% 4% Other Southern Cluster 5% 10% 5% Not specified Western Cluster Note: Percentage represents proportion
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