Webstep As · OSL:WSTEP
Webstep As — Q2 2023 Earnings Presentation
21 slides from Webstep As's earnings presentation, Aug 23, 2023
Slide 1: Q2 2023
Q2 2023 Save Asmervik, CEO Ida Amalie Oma, CFO 23 August 2023 - Oslo
Slide 2: Our agenda
Our agenda 01 02 03 04 Highlights Business Review Financial Review Outlook
Slide 3: Highlights from the quarter
Highlights from the quarter
Slide 4: Highlights
Highlights Solid development despite changing market conditions ● Strong revenue growth ○ 249.5 MNOK (+16.0%) for the quarter ○ 526.7 MNOK (+17.5%) YTD ● Solid EBIT ○ EBIT 17.6 MNOK (+30.8%) for the quarter ○ 42.8 MNOK (+14.7%) YTD ○ EBIT margin 7.1% (+0.8 pp) for the quarter ● Growth in employees ○
Slide 5: Business review
Business review
Slide 6: Organization and employees
Organization and employees ● Strong local presence ○ Close to the customer ○ Long term customer relationships ● High-end employee work experience ○ Experts meet experts ○ Strong competence track record ● Strong and proud culture ○ Employee Satisfaction- and Loyalty Indexes on premium levels ○ Compet
Slide 7: Financial review
Financial review yy
Slide 8: Key figures - Group
Key figures - Group Q2 Comments Q2 Q2 Y/Y YTD YTD Y/Y FY NOK million 2023 2022 change 2023 2022 change 2022 Revenues 249.5 215.1 16.0% 526.7 448.1 17.5% 888.4 ● Continued growth in revenues and strengthened EBIT EBITDA 23.0 18.4 25.3% 53.5 47.1 13.6% 76.2 confirms the robustness of Webstep’s business
Slide 9: Norway
Norway Revenue EBIT Employee 15.4%growth 7.8% margin 8.8% growth
Slide 10: Key figures - Norway
Key figures - Norway Q2 Q2 Y/Y YTD YTD Y/Y FY Q2 Comments NOK million 2023 2022 change 2023 2022 change 2022 ● Solid revenue growth despite tougher market conditions Revenues 211.7 183.5 15.4% 449.3 385.7 16.5% 761.6 ○ Revenue from own consultants 196.6 MNOK EBIT 16.5 12.6 31.2% 38.9 33.5 16.2% 47.7
Slide 11: Sweden
Sweden Revenue EBIT Employee 19.8%growth 3.0% margin 18.7% growth
Slide 12: Key figures - Sweden
Key figures - Sweden Q2 Q2 Y/Y YTD YTD Y/Y FY Q2 Comments NOK million 2023 2022 change 2023 2022 change 2022 ● A continuously weakened market Revenues 37.9 31.6 19.8% 77.4 62.4 24.0% 126.9 ● Revenue growth ○ Revenue from own consultants MNOK 30.0 EBIT 1.1 0.9 25.0% 3.9 3.9 1.1% 6.9 +14.8% stands for
Slide 13: Outlook
Outlook
Slide 14: Outlook
Outlook Market Path towards further sustainable growth and profits ● Long term trend of digitalisation continues in ● Headcount growth balanced against profitability and continued focus a changing macroeconomic environment on cost saving to secure margin expansion ● AI development creates new opportu
Slide 15: Questions?
Questions? Please contact us at ir@webstep.com
Slide 16: Appendix
Appendix
Slide 17: A diversified customer base
A diversified customer base Private Public 69% Sector 31% Sector 17
Slide 18: Cash flow and net debt
Cash flow and net debt 30 Jun NOK million 2023 Cash and cash equivalents* (33.4) Restricted cash 2.4 Debt to credit institutions 0.0 Net interest bearing debt (NIBD)** (31.0) NIBD/EBITDA (rolling 12 months) (0.4) NIBD/EBITDA (rolling 12 months) 0.6 Including IFRS 16 Lease liabilities ● Q2 free cash fl
Slide 19: Revenue, EBIT and employee development
Revenue, EBIT and employee development Revenues (LTM) EBIT (LTM) Number of employees (EoP) 19
Slide 20: Top 20 shareholders at 21 August 2023
Top 20 shareholders at 21 August 2023 20
Slide 21: Disclaimer
Disclaimer This Presentation includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. These statements and this Presentation are based on current expectations, estimates and projections abo