Hitit Bilgisayar Hizmetleri A.s. · BIST:HTTBT
Hitit Bilgisayar Hizmetleri A.s — FY2023 Earnings Presentation
27 slides from Hitit Bilgisayar Hizmetleri A.s's earnings presentation, 2024
Slide 1: A Rising Star in Airline & Travel IT Solutions
A Rising Star in Airline & Travel IT Solutions 2023 Year End Results Presentation
Slide 2: Hitit At a Glance
Hitit At a Glance 2023 Year End The 3rd largest PSS One integrated Above pre-Covid Global scaling with provider in the solution suitable for levels both in cloud-based, world* all airlines, from the passengers and modern, and smallest to the largest revenue flexible technology infrastructure 2 * Acc
Slide 3: Crane Partner Community
Crane Partner We meet the needs of Partners in different business models all over the Community world 2023 Year End 49 COUNTRIES 73 PARTNERS Utilizing Hitit's Crane solutions and services 3
Slide 4: Hitit empowers aviation all around the globe
Hitit empowers aviation all Visualization of Hitit Partner aircraft movements within a 24-hour period based on FlightRadar 24 data around the globe 2023 Year End 4
Slide 5: Hitit empowers aviation all around the globe
Hitit empowers aviation all Visualization of destinations served by Hitit Partners based on live airport data within Crane systems around the globe 2023 Year End 5
Slide 6: Hitit by Numbers
25,6M USD Hitit by 2023 Sales Revenues Numbers + 36% over 2022 40% 2023 Year End EBITDA Margin -3% over 2022 +42% 73 Partners Passenger volumes over 2022 +12 new, 3 suspended Partners within 2023 6
Slide 7: Hitit by Numbers
700+ Hitit by Airports served Numbers through Crane DCS 85 2023 Year End Countries with border and custom systems integrated with Hitit $6.5 65+ billion Integrations with different banks and alternative Sales volume payment systems generated by Hitit 7 Partners in 2023
Slide 8: Financial and Other Important Developments
Financial and Other Important Developments Innovative Technology Investments In line with the projects being carried out within the Technopolis regulations, 8.5 million dollars for R&D along with 1.2 million dollars for license, hardware, and fixtures were invested as of 2023. 2023 Year End The effe
Slide 9: Financial Evolution
At the end of the 2023, revenue and EBITDA exceeded the same period for 2022. Financial Evolution (Reporting in USD Functional Currency) The EBITDA increased by 26% compared to the same period of the previous year and reached 10.1m USD. EBITDA margin was realized as 40%. 2023 Year End Sales were rea
Slide 10: Forward-Looking Evaluations
Forward-Looking Evaluations In addition to the product and service production, sales and marketing activities carried in line with its growth strategy, the company continues its investments to achieve its goals. Within this framework, as of the end of 2024, on a USD basis; 2023 Year End Growth in tu
Slide 11: Financial Summary
Financial Summary Functional currency is USD since 01.01.2020. 2022-12M 2023-12M 50,0 45,0 40,0 35,0 30,0 2023 Year End 25,0 20,0 15,0 %60 %67 %43 %40 10,0 5,0 - Net Sales (USD Million) Gross Profit EBITDA Equity (USD Million) (USD Million) (USD Million) $15.8 mn net cash position as of December 31,
Slide 12: Financial Summary
Financial Summary Approximately 79% of sales are in foreign currency (USD or EUR) SaaS Share (%) PSS ADS Other 82% 9% 9% 2022-12M 2023-12M Revenue Breakdown(USD) USD % USD % SaaS 11,885 63% 15,893 63% Software Development and Maintenance 3,969 21% 6,386 25% 2023 Year End IaaS ve Projects 2,942 16% 3
Slide 13: Financial Summary
Approximately 67% of Financial Summary costs are in TL Cost Breakdown1 Cost Breakdown2 Currency Distribution USD 20,168k by 2023 USD 20,168k by 2023 By 2023 3% 6% 15% 9% 1% 2023 Year End 17% 12% 29% 19% 54% 65% 54% 19% 19% 67% Cost of sales Personnel Amortization TL EUR Sales and marketing Sales and
Slide 14: Key Developments
Noteworthy Partner Acquisitions Key Developments and Developments in 2023 New Partner Acquisitions 12 new Partners have signed up in 2023. Among them is AJet (Anadolujet) as they evolve from being a sub-brand of Turkish Airlines into a standalone airline. It represents quite a unique project, being
Slide 15: Industrial KPIs
Revenue Passenger Kilometers (RPK) Industrial KPIs Evolution Trends (%) 2023 Year End 15 Source: IATA Economics – Global Outlook for Air Transport (December 2023)
Slide 16: Industrial KPIs
Revenue Passenger Kilometers (RPK) Industrial KPIs and Airline Revenues 2023 Year End 16 Source: IATA Economics – Air Passenger Market Analysis (December 2023) & Global Outlook for Air Transport (December 2023)
Slide 17: Balance Sheet
Balance Sheet Balance Sheet (USD ‘000) 31-12-2022 31-12-2023 Cash and cash equivalents 3,056 7,420 Financial assets 14,104 8,386 Trade receivables 4,456 6,263 Prepaid expenses 1,710 2,063 Other current assets 1,296 1,061 Total current assets 24,623 25,194 Property, plant and equipment 3,590 5,158 In
Slide 18: Income Statement
Income Statement Income Statement (USD ‘000) 1 January- 31 December 2022 1 January- 31 December 2023 Net sales 18,796 25,646 COGS (-) (8,586) (13,180) Gross profit before D&A 12,503 15,508 Depreciation and amortization 2,292 3,042 Gross profit after D&A 10,211 12,466 Gross profit margin 54% 49% Mark
Slide 19: Corporate Social Responsibility Projects
Corporate Social As a global player, Hitit places utmost importance on its commitments to society and social responsibility Responsibility Projects Permanent table tennis areas are being Gender Equality established in container cities in the Mentoring women in technology jobs 2000 provinces that wer
Slide 20: Sustainability Initiatives
Sustainability We support our Partners and the aviation industry, as well as our own internal processes in adopting ESG Initiatives principles and best practices. Our Contributions to Hitit Partner Airlines and Aviation Industry We compile real-time operational data on hundreds of thousands of fligh
Slide 21: Appendix
Appendix 2023 Year End Organizational The Crane Use of IPO Shareholder Structure and Family Proceeds Structure Current Values 21
Slide 22: Shareholder Structure
Shareholder As of December 31, 2023 Structure 2023 Year End %36,82 %23,19 %4,71 %4,34 %4,34 %26,596 Pegasus Hava Fatma Nur Dilek Hakan Özkan Free Float Taşımacılığı Gökman Ovacık Ünlü Dülger A.Ş. 22
Slide 23: Organizational Structure and Current Values
Organizational Structure and Current Values General Management Infrastructure Financial Product Transportation Sales & Affairs & Human Technology Deliver & Operation Strategy Solutions Marketing Purchasing Resources 2023 Year End Total Number of Employees* Gender Education 2023 428 17% Female 374 38
Slide 24: High Employee Seniority and Satisfaction
High Employee Seniority Seniority and retention of employees above the industry average and Satisfaction Senior IT Staff According to 2023 LinkedIn data, while the average seniority in the top 10 software companies in Turkey is 2,8 years, this figure is 4.8 years for Hitit employees 2023 Year End Hi
Slide 25: Crane Solutions
We provide turn-key solutions for every Crane Solutions step of the way in air travel. Reservations and Passenger Services (“PSS”) A series of mission-critical systems used by airlines for reservations, ticketing, check-in, internet and mobile sales, departure control, loyalty programs and customer
Slide 26: Use of IPO Proceeds
Use of IPO Proceeds Overseas investments 10% 2023 Year End Launching new 35% Development of software & business units 25% infrastructure of products and solutions suitable for different markets 30% Infrastructure, development & 26 improvements for the transition to cloud architecture
Slide 27: Thank You
THANK YOU Reşitpaşa Mah. Katar Cad. No: 4/1 ARI Teknokent 2 İç Kapı No: 601 34469 Maslak, İstanbul, Türkiye
Hitit Bilgisayar Hizmetleri A.Ş. — FY2023 Earnings Presentation on 6ix