Logo Yazilim Sanayi Ve Ticaret A.s. · BIST:LOGO
Logo Yazilim Sanayi Ve Ticaret A.s — FY2014 Earnings Presentation
18 slides from Logo Yazilim Sanayi Ve Ticaret A.s's earnings presentation, Feb 16, 2015
Slide 1: Analyst Presentation for FY 2014
LOGO BUSINESS SOLUTIONS Analyst Presentation for FY 2014 Gülnur Anlaş Chief Financial Officer February 16, 2015 12 1
Slide 2: Disclaimer
Disclaimer This presentation contains information and analysis on financial statements as well as forward-looking statements that reflect LOGO management’s current views with respect to certain future events. Although it is believed that the information and analysis are correct and expectations refl
Slide 3: Content
Content Highlights in 2014 Financial Review Questions & Answers
Slide 4: 2014 Milestones
2014 Milestones • Strong revenue performance with organic and inorganic growth • Strong recurring revenue growth of 93%. • Share of recurring revenues up to 36% • Cloud revenue growth at 15%. Diva now used in 4000+ companies at 7500 points of presence • International sales maintained at last year’s
Slide 5: Expanding Market Share & Growing Product Range
Expanding Market Share & Growing Product Range Expanding Market Share Growing Product Range • Continued growth at above market growth rates • Product range expansion through organic growth leading to market share gains and value oriented acquisitions. • Increased market share up to 23,3% from 20% •
Slide 6: Content
Content Highlights in 2014 Financial Review Questions & Answers
Slide 7: Financial Summary
Financial Summary Q4 12 M G IFRS (m TL) Q413 Q414 D LFL13 LFL D 12M13 12M14 D LFL 13 LFL 14 LFL D YE14 Revenue 32,5 35,2 8% 33,9 4% 70,7 104,0 47% 85,9 105,4 23% 120 EBITDA 11,6 8,7 -25% 11,4 -24% 27,1 39,6 46% 29,2 40,0 37% 50 EBITDA Margin 36% 25% 34% 38% 38% 34% 38% 42% Net Income 6,1 8,5 39% 6,4
Slide 8: Solid top-line growth with revenue quality
Solid top-line growth with revenue quality Sales Performance in the Last 5 Years Sales Categories On premise SaaS Other services CAGR: 50% 120 104 100 80 70,7 5% 5% 60 46,2 40 31 20,8 20 0 90% 2010 2011 2012 2013 2014 Recurring Sales 120% 100% 4% 15% 24% 80% 36% 60% 96% 85% 40% 76% 64% • Along with
Slide 9: Controlled growth in expenses
Controlled growth in expenses R&D (000 TL) Share in Revenue (%) S&M (000 TL) Share in Revenue (%) G&A (000 TL) Share in Revenue (%) 28% 24% 21% 27% 13% 11% 104.031 104.031 104.031 70.731 71% 70.731 91% 70.731 27% 29.271 28.553 17.103 14.931 9.271 11.812 2013 2014 2013 2014 2013 2014 Total Revenue R&
Slide 10: Bottom line performance above sales growth
Bottom line performance above sales growth EBIT (m TL) EBITDA (m TL) Net Income (m TL) CAGR:65% CAGR: 50% CAGR: 107% 35 28 29,6 39,6 30 25 28% 38% 19 20,8 27,1 + 26% 20 + 3% 27% 15 3% 17,4 38% 11 + 11,6 29% 10 11,8 3% 6,6 38% 24% 25% 35% 3 28% 38% 5 21% 31% 38% 38% 41% 45% 12% 29% 10% 10% 27% 29% 31
Slide 11: Performance vs Guidance
Performance vs Guidance Sales (m TL) • e-government (e-invoice) sales fell below target due to government’s manual driven 120,00 portal solution remaining as an alternative to our software particularly in smaller size co.s. This group remains as a potential. 104,03 • The composition of e-government:
Slide 12: Strong capitalization and solid ROE
Strong capitalization and solid ROE Balance Sheet Highlights (m TL) Balance Sheet Ratios 2013 2014 D 2013 2014 Cash & Cash Eq. Shareholders Equity Ratio 0,47 0,53 19,3 48,7 152% Trade Receivables 52,8 53,7 2% Current Ratio 1,88 1,79 Tangible Assets 13,6 15,1 ROE 33% 32% 11% EPS 0,771 1,102 Intangibl
Slide 13: High liquidity through strong cash conversion
High liquidity through strong cash conversion Cash Flow Statement (m TL) Working Capital (m TL) (Share in Revenue %) 2013 2014 Cash & Cash Equivalent (Beginning) 9,8 19,3 35% 38% 60% 46% Cash from /(used in) Operating Activities 21,4 55,9 47,6 (-) Net cash used in Investing Activities -31,9 -22,2 42
Slide 14: 2015 Action Plan
2015 Action Plan • Post merger integration of Logo & Netsis finalized; merger of technical teams and processes resulting in major cost reductions : – Excess resources are allocated to new development projects, especially SaaS – Best technologies from each member interchanged to create a uniform set
Slide 15: 2015 Action Plan
2015 Action Plan • Restructuring our sales channel and sales process to create a pro-active sales force, with better focus on end-users • Restructuring our project management organization and processes to create a reference projects and improve channel’s project implementation capabilities (quality
Slide 16: Share Performance
Share Performance 7 1H2014 LoI with Q32014 Q12014 financials Intermat financials Voluntary 2013 financials financials released signed released tender offer 6 announced released (Aug 13. 2014) (Oct 20, 2014) (Nov. 7,2014) (Jan 27. 2014) (Feb 14. 2014) (May 12. 2014) Acqusition of eLogo 50.1% stake in
Slide 17: Content
Content Highlights in 2014 Financial Review Questions & Answers
Slide 18: Thank you for joining us today
Thank you for joining us today LOGO Investor Relations Team T: +90 262 679 8000 E: investor@logo.com.tr
Logo Yazilim Sanayi Ve Ticaret A.S. — FY2014 Earnings Presentation on 6ix