Smartoptics Group Asa · OSL:SMOP
Smartoptics Group Asa — Q4 2021 Earnings Presentation
15 slides from Smartoptics Group Asa's earnings presentation, Feb 10, 2022
Slide 1: Q4 2021 presentation
smartoptics Q4 2021 presentation
Slide 2: Strong financial performance in 2021 and continued high demand
Strong financial performance in 2021 and continued high demand Revenue Adj. EBITDA Margin1) EBIT Margin Q4: 12.5 MUSD Q4: 11.7% Q4: 10.0% 2021: 45.9 MUSD 2021: 11.8% 2021: 10.4% Gross Margin Revenue Growth* Operating Cash Flow Q4: 44.3% Q4: 7.4% (+11% in constant currencies) Q4: 2.1 MUSD 2021: 44.1%
Slide 3: 2021 Highlights – Delivering on strategy
2021 Highlights – Delivering on strategy Growing Smartoptics to become a recognized leader in Open Optical Networking Solutions Leveraging new trends Solutions, SW & services Filling the gap Disaggregated and Open networks Metropolitan area optical networks. Excellent market opportunity Targeting En
Slide 4: Financial development on track toward goal of 100 MUSD
Financial development on track toward goal of 100 MUSD Revenue and EBITDA development 2017-2021 Comments (MUSD) CAGR 28% • Consistent growth over the past five years ranging between 45,9 17%-33% +31.3% • Improving profitability as a result 34,9 of revenue growth +31.4% +17.5% 26,6 • Market success d
Slide 5: Smartoptics product offering is evolving to meet demands of larger customers
Smartoptics product offering is evolving to meet demands of larger customers and more applications PARTNER MANAGEMENT Domain MULTI VENDOR FCAPS INVENTORY Control Domain control and network planning SoSmart Domain control and network planning SOFTWARE CONTROLLER PLANNING MANAGEMENT DCP-M DCP-F DCP-R
Slide 6: Our market is driven by mega trends that generate strong demand for data traffic
Our market is driven by mega trends that generate strong demand for data traffic and higher capacity – generating massive data growth Key Drivers Market – Compact Modular EMEA + North America (MUSD) +15% Streaming media Gaming Data Centers 2,553 2,383 2,147 1,857 1,586 1,275 1,109 Mobility Internet
Slide 7: Strong order booking in 2021, growing by 39% YoY
Strong order booking in 2021, growing by 39% YoY Orders booked 2019, 2020 and 2021 Comments (MUSD) • Continued strong business 60 momentum driven by both large +39% customer orders and high demand from repeat customers 50 +39% • Solid long-term trend in order booking, two years of 39% 40 growth 30 5
Slide 8: Communication Service Providers is the largest customer segment in 2021
Communication Service Providers (CSP) is the largest customer segment in 2021 and the fastest growing segment Estimated Revenue by customer type 2020 and 2021 Comments (MUSD) • CSP have grown to become the 50 dominating segment 45.9 45 • Strong growth of Internet 8,4 Content Provider (ICP/Cloud) 40
Slide 9: Growth in all Regions, EMEA showing highest revenue growth
Growth in all Regions, EMEA showing highest revenue growth while Americas’ growth is slightly dampened by supply constraints Invoiced Revenue per Region and Quarter – 2020 and 2021 Comments (MUSD) • EMEA consumed more of the delivery capacity during the Americas EMEA APAC quarter +20% +46% • The est
Slide 10: Summary of financial performance 2020 and 2021
Summary of financial performance 2020 and 2021 Revenues (MUSD) Gross Profit (MUSD) Gross Margin (%) +7.4% +31% 44,0% 44,3% 41,0% 42,4% 40,1% 40,4% 38,6% 5,5 36,3% 12,4 11,1 12,5 4,2 4,4 5,0 4,7 9,3 11,6 10,0 3,8 6,6 7,7 2,6 3,0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 11: Performance in the upper range of guidance – long term ambitions maintained
Performance in the upper range of guidance – long term ambitions maintained 2025/26 2021 2021 Guidance aspirations Revenue +31.3% 20-35% organic growth ~100 mUSD Gross margin 44.1% ~41-44% ~45% EBITDA margin 11.8% ~9-12% ~15-18% Capex/sales 1.3% ~2% ~2% 11
Slide 12: Profit and Loss Statement
Profit and Loss Statement Profit and Loss Statement Q4 and full year of 2021 and 2020 Comments Profit and Loss Statement 2021 Q4 2020 Q4 2021 12m 2020 12m Q4 21 vs Q4 20 2021 vs 2020 • Q4 Adjusted EBITDA grew by Invoiced Revenue 12 654 12 091 46 596 35 852 41.3% compared to Q4 2020 Net Change Deferr
Slide 13: Cash Flow Statement
Cash Flow Statement Cash Flow Statement for Q4 and full year of 2021 and 2020 Comments Cash Flow Statement 2021 Q4 2020 Q4 2021 12m 2020 12m Comment • Q4 had 2.1 MUSD in Operating Cash at the beginning of the period 8 533 1 503 3 628 2 094 Cash Flow EBITDA 1 466 1 038 5 516 2 419 Changes in Accounts
Slide 14: Balance Sheet
Balance Sheet Balance Sheet for Dec 31 2021 and Dec 31 2020 Assets (MUSD) Dec 31, 2021 Dec 31, 2020 Equity and Liabilities (MUSD) Dec 31, 2021 Dec 31, 2020 Non-Current Assets 6 266 6 583 Total Equity 24 238 12 201 Capitalized Development Cost 904 1 040 Deferred Tax Asset 3 968 4 053 Non-Current Liab
Slide 15: smartoptics
smartoptics