Webstep As · OSL:WSTEP
Webstep As — Q4 2021 Earnings Presentation
22 slides from Webstep As's earnings presentation, Feb 17, 2022
Slide 1: Q4 and full year 2021
Q4 and full year 2021 Webstep ASA Oslo | 17 February 2022 Save Asmervik, CEO
Slide 2: Agenda
Agenda 1. Q4 and FY 2021 highlights 2. Business review 3. Financial review 4. Outlook
Slide 3: Highlights from the quarter
Highlights from the quarter We
Slide 4: Q4 and FY 2021 highlights
Q4 and FY 2021 highlights ● Continued strong growth in revenues ○ 218.8 million for the quarter (+16.1%) ○ 775.0 million for the full year (+12.3%) ● Improved EBIT ○ Increased by 69% for Q4 and 32% FY 2021 ● Employees ○ 478 employees at the end of the quarter ○ Increase of 63 employees over the last
Slide 5: Business review
Business review e) oOo OS GQ mh ge We
Slide 6: Go-to-market model
BUSINESS REVIEW Go-to-market model Experts for hire IT Expert House Client run projects Services and solutions based on leading tech platforms Team-as-a-Service (TaaS) Cloud, AI, AR/VR, Blockchain, IoT, Security Webstep run projects architecture, UX and project management Projects & Solutions WEBSTE
Slide 7: A diversified customer base
BUSINESS REVIEW A diversified customer base Top 10 customers represent 34% of total revenues - up from 31% in Q3 2021 7
Slide 8: Supporting digitization of the fishing and aquaculture fleet
BUSINESS REVIEW Supporting digitization of the fishing and aquaculture fleet ● Webstep is key contributor of software development at Moen Marin ● mLINK, mainly developed by Webstep, is a cloud based solution covering the need for multi level maintenance and safety. ● The mobile application, mLink, is
Slide 9: Supporting digital transformation in Equinor [UPDATE]
BUSINESS REVIEW Supporting digital transformation in Equinor [UPDATE] ● Framework agreement providing Equinor with increased capacity for DevOps teams and individual consultants ● Team-as-a-service delivered by Webstep ● IT experts from Webstep working on software development in Equinor ● Estimated
Slide 10: Organization and employees
BUSINESS REVIEW Organization and employees ● Strong local presence Trondheim 62 ○ Close to the Customer ○ Strategic Partner (+4) ● Building Competence 74 Bergen ○ High quality competence events ○ Investing in the experts (+9) Oslo 173 ● Reaching 478 employees at the end of 2021 Uppsala 17 ○ +63 YtY
Slide 11: Environment and society
BUSINESS REVIEW Environment and society ● Creating profitability with respect for individuals, the environment and the society at large. ● Recognizing Websteps responsibility to the achievement of UN’s Sustainable Development Goals ● Vocal and engaged in discussing societal matters ● Promoting the te
Slide 12: Financial review
Financial review e) oOo OS GQ mh ge We
Slide 13: Key figures - Group
FINANCIAL REVIEW Key figures - Group Q4 Q4 Y/Y FY FY Y/Y NOK million 2021 2020 change 2021 2020 change Q4 highlights Revenues 218.8 188.4 16.1% 775.0 690.0 12.3% ● Revenue from own consultants EBITDA 22.9 14.3 59.9% 81.2 63.9 27.0% driven by higher headcount, EBITDA margin 10.5% 7.6% 2.9 pts 10.5% 9.
Slide 14: Key figures - Norway
FINANCIAL REVIEW Key figures - Norway Q4 Q4 Y/Y FY FY Y/Y NOK million 2021 2020 change 2021 2020 change Highlights - Norwegian segment represents 86% Revenues 188.6 158.5 19.0% 668.4 583.9 14.5% of consolidated revenue in Q4 and EBIT 17.0 8.8 93.7% 61.1 41.6 46.8% full year EBIT margin 9.0% 5.5% 3.5
Slide 15: Key figures - Sweden
FINANCIAL REVIEW Key figures - Sweden Q4 highlights Q4 Q4 Y/Y FY FY Y/Y NOK million 2021 2020 change 2021 2020 change - Swedish segment represents 14% Revenues 30.2 29.9 0.7% 106.7 106.1 0.5% of consolidated revenue in Q4 and EBIT 1.4 2.1 (32.6%) 4.8 8.4 (43.1%) EBIT margin 4.8% 7.2% -2.4 pts 4.5% 7.
Slide 16: Outlook
Outlook
Slide 17: Outlook
Outlook ● Positive market outlook ○ High demand for Webstep services and consultants ● Capacity growth ○ Expect to be 485 employees by the end of Q1 ● Main focus ○ Continued focus on existing GTM models ■ Boosting Team-as-a-Service deliveries ○ Organic growth in existing locations ■ Improved operati
Slide 18: Questions?
Questions? Please contact us at ir@webstep.com
Slide 19: Appendix
O (es) Appendix oOo an We
Slide 20: Cash flow and net debt
FINANCIAL REVIEW Cash flow and net debt Q4 highlights ● Q4 free cash flow of NOK 37.7 m ● Operating cash flow increased from NOK 26.3m in Q4-20 to NOK 41.9m in Q4-21 ● Capex relates to office equipment ● Credit facility of NOK 110m in Norway and SEK 5m in Sweden per end of quarter 31 Dec NOK million 2021
Slide 21: Top 20 shareholders at 14 February 2022
APPENDIX Top 20 shareholders at 14 February 2022 21
Slide 22: 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