Sys-dat S.p.a. · MIL:SYS
Sys-dat — H1 2025 Earnings Presentation
25 slides from Sys-dat's earnings presentation, Sep 10, 2025
Slide 1: Unlocking the Future - H1 2025 Results
UNLOCKING THE FUTURE H1 2025 Results 10 September 2025 STRICTLY CONFIDENTIAL: Contents in this document are strictly confidential and SYS-DAT property; it is forbidden to copy this document, to amend it, to share it and to print it without previous written authorization from SYS-DAT S.p.A. 1
Slide 2: Disclaimer
This document has been prepared by Sys-Dat Group S.p.A. (the “Company” or “Sys-Dat Group”) for information In particular, but without limitation, no representation or warranty, express or implied, is or will be given as to the purpose only, it contains only summary information and, therefore, it is
Slide 3: SYS-DAT: Unlocking the future
SYS-DAT: Unlocking the future 01 Growth & Value creation 02 H1 2025 Operations 03 H1 2025 Financials Highlights STRICTLY CONFIDENTIAL: Contents in this document are strictly confidential and SYS-DAT property; it is forbidden to copy this document, to amend it, to share it and to print it without pre
Slide 4: Growth & Value creation
01 Growth & Value creation STRICTLY CONFIDENTIAL: Contents in this document are strictly confidential and SYS-DAT property; it is forbidden to copy this document, to amend it, to share it and to print it without previous written authorization from SYS-DAT S.p.A. 4
Slide 5: SYS-DAT Growth & Value Creation
SYS-DAT GROWTH & VALUE CREATION A disciplined implementation of our BUY & BUILD model BUILD BUY INNOVATION IDENTIFY STRATEGY STRATEGY Time dedicated to Targets fitting our product development industrial project CASH FLOW MAXIMISE ACQUIRE Maximize EBITDA to cash conversion VALUE CREATION Best price a
Slide 6: Current Performance – H1 2025
CURRENT PERFORMANCE – H1 2025 Significant leap driven by A&C group consolidation and organic growth 30.06.25 vs 30.06.24 Main KPIs H1 ’25 value H1 ’25 vs. H1 ’24 • Revenue € 45.2m + 57.8% • EBITDA € 8.3m + 40.0% • Net Income € 3.2m + 22.6% • Liquidity € 53.7m + 5.4m (*) • NFP € 18.2m - 14.0m (*) (*)
Slide 7: Significant Growth Trend
SIGNIFICANT GROWTH TREND Group size ca. doubled in 3 years and further increased by ca. 60% in H1 ’25 2025 H1 2025 2024 2021 FY 2021 FY 2024 H1 2025 • Revenue: € 29.1m • Revenue: € 57.5m • Revenue: € 45.2m • EBITDA: € 6.0m • EBITDA: € 11.6m • EBITDA: € 8.3m • Net Income: € 3.6m • Net Income: € 6.2m
Slide 8: H1 2025 Operations
02 H1 2025 Operations STRICTLY CONFIDENTIAL: Contents in this document are strictly confidential and SYS-DAT property; it is forbidden to copy this document, to amend it, to share it and to print it without previous written authorization from SYS-DAT S.p.A. 8
Slide 9: IT Market Shows Growth Potential Boosted by Enablers
IT MARKET SHOWS GROWTH POTENTIAL BOOSTED BY ENABLERS Attractive market continues its growth path1 Italian IT Market (Eu mn) CAGR 33.355 30.068 31.715 2022-2025E 2025E-2028E 28.405 26.815 25.272 23.446 ICT Services 7.9% 6.6% 21.264 22.572 18.621 19.950 16.160 17.349 14.831 Software and ICT 4.3% 3.3%
Slide 10: SYS-DAT Growth Driven by Vertical Markets Solutions
SYS-DAT GROWTH DRIVEN BY VERTICAL MARKETS SOLUTIONS Digital enablers services contribute to revenue mix Service family Solutions % of Revenues ERP: accounting, Product Data Management (PDM), Product Lifecycle Management (PLM) 64,6 % Supply Chain and MES: production department management Core Busines
Slide 11: A&C Integration and Combination Successfully Completed
A&C INTEGRATION AND COMBINATION SUCCESSFULLY COMPLETED Focus is now on cross and up-selling BUSINESS H1’25 SUCCESS STORIES INTEGRATION Information Systems 05.03.2025 Mktg & Communication COMPLETED Manufacturing Agritech Sales AI sw applications Logistics sw applications HR Technology & Ops
Slide 12: A&C Acquisition Boosts Cross-Selling All Over Italy
A&C ACQUISITION BOOSTS CROSS-SELLING ALL OVER ITALY Cross-selling opportunity driven by additional markets, solutions and sales managers MARKETS AND SOLUTIONS Logistic Food&Beverage Notary Agri-Tech Accountants COMBINED CUSTOMER BASE COMBINED SALES PEOPLE STRICTLY CONFIDENTIAL: Contents in this docu
Slide 13: H1 2025 Financial Highlights
03 H1 2025 Financial Highlights STRICTLY CONFIDENTIAL: Contents in this document are strictly confidential and SYS-DAT property; it is forbidden to copy this document, to amend it, to share it and to print it without previous written authorization from SYS-DAT S.p.A. 13
Slide 14: Strong Revenue Growth and Mix
STRONG REVENUE GROWTH AND MIX Driven by A&C acquisition and organic growth REVENUES HIGH VISIBILITY OF GROWTH Total 57.5 28.7 45.2 Revenue 21% Recurring €/m 41% 14,6 Repeatable (*) 57,5 38% 28,7 30,6 New Business FY 24 H1 24 H1 25 (*) Repeatable: customers with aging >= 5 years Inorganic Revenue Org
Slide 15: Diversified and Loyal Customer Base
DIVERSIFIED AND LOYAL CUSTOMER BASE Focus on cross and up-selling Revenue by market sector Revenue by customer size 1%1% 1% 4% Manufacturing 16% € > 50m Services 25% 39% 45% Commerce 10m < € < 50m 15% Finance, Insurance and RE Logistics 2m < € < 10m Healthcare 23% 30% Utilities € < 2m Business der
Slide 16: EBITDA and Net Income Growth Drives Value Creation
EBITDA AND NET INCOME GROWTH DRIVES VALUE CREATION Positive contribution from A&C EBITDA NET INCOME EBITDA Income 20.1% 20.6% 18.3% 10.8% 9.2% 7.1% Margin Margin €/m €/m 2,0 11,6 6,2 5,9 6,3 3,2 2,6 FY 24 H1 24 H1 25 FY 24 H1 24 H1 25 Inorganic EBITDA Organic EBITDA Utile netto H1’25 vs H1’24 EBIT
Slide 17: Strong Operating Cash Flow Generation
STRONG OPERATING CASH FLOW GENERATION Focus on R&D and Net Working Capital management R&D OPERATING CASH FLOW Liquidity € 53,7m R&D on NFP € 18.2m 4.7% 4.9% 3.8% Revenue €/m €/m 2,7 11,5 1,7 8,1 1,4 6,7 FY 24 H1 24 H1 25 FY 24 H1 24 H1 25 R&D Operating Cash Flow H1’25 vs H1’24 R&D activities growt
Slide 18: Liquidity Increase and NFP Variation Following A&C Acquisition
LIQUIDITY INCREASE AND NFP VARIATION FOLLOWING A&C ACQUISITION H1 2025 CHANGE IN LIQUIDITY H1 2025 CHANGE IN NFP €/m A&C €/m 7,6 M&A liquidity 9,9 cash-out 3,2 Delta NWC Capex 2,6 1,3 other 8,3 EBITDA 5.4 3,2 Delta NWC 5,5 Capex + IFRS16 8,3 EBITDA M&A impact 18,7 53,7 48,3 1,3 other 32,2 18,2 Posit
Slide 19: NFP to Liquidity Difference Mainly Driven by Future Earn-Outs
NFP TO LIQUIDITY DIFFERENCE MAINLY DRIVEN BY FUTURE EARN-OUTS €/m 0,5 4,7 Long Term (>12M) 1,0 0,8 1,0 Short Term (<12M) 0,6 0,7 17,2 53,7 9,1 18,2 NFP Earn-Out Bank IFRS 16 IFRS 16 other Liquidity H1 25 loans Cars Offices H1 25 STRICTLY CONFIDENTIAL: Contents in this document are strictly confident
Slide 20: Closing Remarks
CLOSING REMARKS GROUP SIZE STEP UP - driven by organic growth and M&A in H1 2025 HEALTHY KPIs - Revenue, EBITDA and Net Income strongly increasing A&C GROUP INTEGRATION COMPLETED - already generating cross-selling STRONG OPERATING CASH FLOW - to be invested in M&A opportunities STRICTLY CONFIDENTIAL
Slide 21: STRICTLY CONFIDENTIAL: Contents in this document are strictly confidential and SYS-DAT property; it is
STRICTLY CONFIDENTIAL: Contents in this document are strictly confidential and SYS-DAT property; it is forbidden to copy this document, to amend it, to share it and to print it without previous written authorization from SYS-DAT S.p.A. 21
Slide 22: Annex
Annex STRICTLY CONFIDENTIAL: Contents in this document are strictly confidential and SYS-DAT property; it is forbidden to copy this document, to amend it, to share it and to print it without previous written authorization from SYS-DAT S.p.A. 22
Slide 23: Annex – H1 2025 Profit & Loss Statement
Annex – H1 2025 Profit & Loss Statement (Euro) 30/06 2025 2024 Operating Revenues 44,990,592 28,390,120 Other Revenues 216,680 266,999 Total Revenue 45,207,272 28,657,119 Purchasing cost 3,466,599 1,542,896 Changes in inventories 311,048 313,728 Service cost 14,985,413 8,923,330 Personnel 17,591,271
Slide 24: Annex – H1 2025 Balance Sheet Statement
Annex – H1 2025 Balance Sheet Statement (Euro) 30/06/2025 31/12/2024 (Euro) 30/06/2025 31/12/2024 ASSETS EQUITY AND LIABILITIES Non-current assets Share Capital 1,564,244 1,564,244 Goodwill 22,285,699 12,251,636 Other reserves 54,555,878 49,225,354 Intangible assets 24,091,869 10,947,067 Net result
Slide 25: Annex – H1 2025 Cash Flow Statement & Net Financial Position
Annex – H1 2025 Cash Flow Statement & Net Financial Position (Euro) 30/06 2025 2024 Net income 3,214,574 2,621,124 Taxes 1,687,231 1,365,850 Depreciation 3,351,664 1,561,438 Net Financial Position 30/06/2025 31/12/2024 Other variations 199,631 8,853 Funding from operations 8,453,100 5,557,265 (€ tho