Slide 1: Strong partnerships drive consistent growth
Strong partnerships drive consistent growth Financial results for the year ended 28 February 2025 Tuesday, 13 May 2025
Slide 2: Agenda
Agenda Introduction and overview Sam Mudd Financial review Andrew Holden Strategic review and outlook Sam Mudd Sam Mudd | Chief Executive Officer Andrew Holden | Chief Financial Officer 22 years at BTG and predecessor companies 31 years at BTG and predecessor companies Q&A Read the full biographies
Slide 3: Introduction
Introduction Experienced team delivers best-in-class performance ⚫ One of the UK and Ireland’s largest IT resellers, with many decades of vendor experience and trust-based customer relationships ⚫ Led by a dedicated and experienced team with deep knowledge and expertise across our products and marke
Slide 4: Full-year highlights
Full-year highlights Gross invoiced income 1 Gross profit Operating profit Earnings per share £2.1bn £163.3m £66.4m 22.8p +15.2% +12.0% +17.1% +16.5% Net cash Cash conversion 2 Ordinary dividend 3 Special dividend £113.1m 113.8% 10.0p 10.0p +27.4% FY24 116.4% +14.9% +14.9% Customers 4 GP/customer 4
Slide 5: Financial review
@ BIG Financial review
Slide 6: Continued strong performance
Continued strong performance ⚫ GII up 15.2%, driven by strong performance in core software business, particularly in the public sector ⚫ GP grew by 12.0%, with 18% public sector growth and 9% corporate growth ⚫ Employee costs up 9.7% against average headcount growth of 12.5%. Capitalised £1.4m of sa
Slide 7: Income analysis
Income analysis GII by sector GP by sector ⚫ Software sales make up 95% of GII and 89% of GP 35% 65% ⚫ Hardware sales have decreased and now make up 2% of GII and 3% of GP 2024/25 2024/25 ⚫ Services constitute 3% of GII and 8% of GP ⚫ Public sector sales grew faster than corporate sales, and 65% 35%
Slide 8: Focus on operating profit
Focus on operating profit Operatin g profit adjustmen ts ( £’m) 1 Operating profit OP/GP £70m 66.4 45% 40.7 39.3 39.3 38.9 56.7 40% £60m 50.9 35% £50m 29.9 42.2 30% £40m 25% £30m 26.8 20% 15% £20m 10% £10m 5% £m % FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 A djusted operating profit A OP/GP £
Slide 9: Cash flow
Cash flow Cash flow Operating profit and cash conversion £70m 70m 200% 180% £60m 60m 160% £50m 50m 140% 120% £40m 40m 100% £30m 30m 80% £20m 20m 60% 40% Increase £10m 10m Decrease 20% Operating profit (£’m) Total m 0% Cash conversion (%) FY21 FY22 FY23 FY24 FY25 ⚫ Remain a capital-light business ⚫ C
Slide 10: Capital allocation hierarchy
Capital allocation hierarchy Organic growth Dividends Return of M&A excess cash ⚫ Continue our proven strategy of ⚫ Dividend policy is to distribute growing our customer base and 40% to 50% of post-tax ⚫ Actively monitoring acquisition wallet share with our clients ⚫ Due to continued strong pre-exce
Slide 11: Sustainability integral to our mission
Sustainability integral to our mission Environmental ⚫ SBTi validation for our near-term and net zero carbon reduction targets ⚫ 2024 CDP submission saw our score increase from C to B ⚫ Expanded our electric vehicle scheme across the Group ⚫ Installed solar panels at our York office, with more self-
Slide 12: Strategic review and outlook
Strategic review and outlook
Slide 13: Our value proposition
Our value proposition Financial results for the year ended 28 February 2025 13
Slide 14: Our business model
Our business model Financial results for the year ended 28 February 2025 14
Slide 15: What drives our Microsoft focus
What drives our Microsoft focus Microsoft spans all software technology pillars Microsoft opens the door and builds trust “ ⚫ Cybersecurity: Largest provider ⚫ Hybrid Cloud: Azure Without a Microsoft contract, I struggle to be a valid trusted partner. That ⚫ Workspace: M365 contract is the golden ti
Slide 16: Evolving our proven strategy for growth
Evolving our proven strategy for growth What is unchanged…and what has evolved Our sources of growth W here we invest Grow both wallet share and customer base Growing sales capacity with regular new sales intakes Market share still <4% of estimated £82bn TAM, which continues to grow Increasing our t
Slide 17: Continued investment in people and capabilities
Continued investment in people and capabilities We’re expanding our teams to meet our customers’ evolving needs Headcount for the year Sales staff 405 ⚫ Continued strong investment across sales, support, technical Sales support staff 283 Technical delivery staff 305 and operational capabilities thro
Slide 18: Our growth culture
Our growth culture £1m GP contributors are increasing in scale and speed ⚫ A growth mindset underpins our grow-your-own model and creates resilience in our people 53 ⚫ The latter is key because, ultimately, it is our people who c.3 respond to and drive change 17 ⚫ We see improvement in the number of
Slide 19: Summary and outlook
Summary and outlook Structured and focused strategy to deliver for all our stakeholders Large addressable market, opportunities supported by growing global IT spend Strong strategic partnerships with vendors Continued expansion of technical service delivery offerings Group benefits from strong balan
Slide 20: Q&A Appendix
@ BIG Bytes Technology Group
Slide 21: Vendor awards
Vendor awards • Microsoft Azure Expert MSP • Check Point Elite Partner • 11 Microsoft Specialisations, including 4 in security • Certified Collaborative Support and Professional Services Partner • Leading EMEA FastTrack Ready Partner • Check Point Infinity Partner of the Year 2025 • Global Microsoft
Slide 22: Microsoft evolution – staying agile
Microsoft evolution – staying agile EA incentives EA incentives Programmatic changes Fast Track launched to incentivise services EA incentives reduced reduced reduced Azure $1bn E5 $20bn investment Security >$20bn TA M evolution Office 365 run-rate CSP launched M365 Sentinel in revenue Teams in secu