Slide 1: The Accelerator of the Project Economy - FY 2023 Results
1 The Accelerator of the Project Economy FY 2023 Results
Slide 2: Disclaimer
1. Section name Disclaimer This presentation may contain forward-looking statements with respect to Planisware SA’s (the “Company”) financial condition, results, business, strategy, plans and outlook. Forward-looking statements are generally identified by the use of the words "expect", "anticipate",
Slide 3: Today's presenters
Today’s presenters Pierre Demonsant Loïc Sautour Stéphanie Pardo Co-founder & CEO CFO Chairman Experience Experience Experience ● Co-founded Planisware in 1996 ● Joined Planisware in 1997 ● Joined Planisware in 2022 ● Previous experience at Thales ● Launched US operations in 1999 ● 24+ years of expe
Slide 4: The Accelerator of the Project Economy
4 The Accelerator of the Project Economy Delivering on our growth story 2023: operational excellence Robust financial performance Outlook and conclusion Appendix
Slide 5: Planisware consistently delivering sustainable profitable growth in 2023
Planisware consistently delivering sustainable profitable growth in 2023 Fiscal Year 2023 +20.3% Total revenue €156m YoY growth in constant currency Adj. EBITDA(1) €52m +26.1% YoY growth Profit for the +32.6% €42m period YoY growth Adj. FCF(2) €44m 84.0% Cash conversion Source: Company. Notes: (1) A
Slide 6: Planisware exceeded its 2023 objectives across topline growth and adjusted EBITDA margins
Planisware exceeded its 2023 objectives across topline growth and adjusted EBITDA margins 2023 objectives vs. 2023 results Strong continued Total c. 19.5% 20.3% momentum of winning new Growth YoY growth revenue logos and expanding constant currency constant currency reach into existing clients Enhan
Slide 7: Planisware's history of consistent and sustainable growth
Planisware’s history of consistent and sustainable growth 19% CAGR 2020-2023 Revenues €156m 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Foundation of a project SaaS transformation Growth acceleration Grow
Slide 8: The Project Economy is the growth engine of our time
The Project Economy is the growth engine of our time $48tn Invested every year in projects globally 200-250m FTEs Inworking North America and Europe on project-based work Mega trends Digitalization are fuelling the Automation & “projectification” Productivity of the global economy Energy Transition
Slide 9: The problem: only 35% of projects succeed
The problem: only 35% of projects succeed Organizations are wasting enormous amounts of Time Poor No Planning Multiple Missed Poor Strategic Resource Support Sources of Deadlines Alignment Visibility Truth Money Missed Cost Lack of Inadequate Lack of Opportunity Opportunities Overruns Analytics Prio
Slide 10: Planisware is the Project Economy accelerator
Planisware is the Project Economy accelerator Project Management Next Category generation Leader with multiple products Unified end-to-end platform Multi-specialist Next across functions generation and industries specialists Next Mission critical end-to-end generation solution point solutions Legacy
Slide 11: Global category leader accelerating the Project Economy
Global category leader accelerating the Project Economy Multiple secular megatrends driving long-term addressable market growth in the Project 1 Economy 2 Global SaaS B2B champion, category leader for the Project Economy Next-generation, mission-critical and multi-specialised SaaS offering with high
Slide 12: The Accelerator of the Project Economy
2 The Accelerator of the Project Economy Delivering on our growth story 2023: operational excellence Robust financial performance Outlook and conclusion Appendix
Slide 13: Business model in action: we land, we expand, we retain
Business model in action: we land, we expand, we retain 545 121% 1.8% Blue Chip Global NRR(1) Churn Rate Customers +49 customers in 2023 Testimony of the virtuousness In line with objective of crystallizing position as a trusted of land, expand and retain maintaining a level of churn rate partner fo
Slide 14: Exciting new feature releases and enhancements
Exciting new feature releases and enhancements Selected upgrades & enhancements Upcoming new release PM GO Data Quality Audit RPA (Robot Process Automation) Planisware Mobile App Augmented Data Entry (iOS & Android) RAG (Retrieval Augmented Generation) Monte Carlo Particle Swarm Retrieval-augmented
Slide 15: Industry recognition: leadership confirmed
Industry recognition: leadership confirmed Project Portfolio Major Strong Management Contenders Players Leaders Contenders Performers Leaders Challengers Leaders Enterprise Stronger Emotional Footprint August 2023 Current Offerings TeamDynamix PPM Smartsheet Champions Wrike Sciforma PPM Planview Cap
Slide 16: Continuous momentum across all geographies
Continuous momentum across all geographies North America leading the way 2023 growth Variation Variation • In Europe, growth driven by strong dynamics in Germany, in an YoY at cc(2) overall softer economic environment Europe +14.3% +14.5% • NAM has seen significant cross-selling and up-selling, new
Slide 17: Balanced growth across pillars
Balanced growth across pillars Firing on all cylinders 2023 growth • Sweet spot PD&I driving group growth with both new customer wins Variation Variation and the expansion of offerings to existing customers YoY at cc(2) • PC&E supported by the successful roll-out of offerings in North PD&I +23.0% +2
Slide 18: Further progress on Corporate Social Responsibility
Further progress on Corporate Social Responsibility Set up of a dedicated CSR governance structure: • Creation of the Chief ESG Officer role 1 • Board Strategic and ESG Committee • Core Executive Board to oversee CSR policies and action plans implementation Implementation of a risk-based approach an
Slide 19: The Accelerator of the Project Economy
9 The Accelerator of the Project Economy Delivering on our growth story 2023: operational excellence Robust financial performance Outlook and conclusion Appendix
Slide 20: Robust total revenue growth in 2023, supported by recurring revenue acceleration
Robust total revenue growth in 2023, supported by recurring revenue acceleration Recurring revenue as CAGR 69% 76% 82% 86% % of total 20-23 18% total revenue revenue growth YoY 19% €156m (i.e. 20% in constant currency), €132m 22 (10%) and 19% CAGR since 2020 €108m 24 €92m 26 Driven by recurring 29 2
Slide 21: SaaS model revenues continued to drive recurring revenue growth in 2023
“SaaS model” revenues continued to drive recurring revenue growth in 2023 “SaaS model” revenue as % 50% 59% 68% 74% of total CAGR revenue 2020-2023 Maintenance as % of total 19% 17% 14% 12% revenue 29% YoY growth of 29% “SaaS model” €135m revenue, 19 3% and 36% CAGR since €108m 2020 18 €81m €63m 18
Slide 22: Increasing predominance of SaaS and Hosting revenue
Increasing predominance of SaaS and Hosting revenue SaaS 1.2x 1.3x 1.5x 1.8x CAGR 33% YoY growth of coverage(1) 2020-2023 SaaS & Hosting revenue driven by both new clients and 36% expansion of existing €116m client base 9 75% Sustained €90m Subscription Support 6 42 25% acceleration (+64% €64m YoY)
Slide 23: Decreasing non-recurring revenue reflecting focus on SaaS / recurring business model
Decreasing non-recurring revenue reflecting focus on SaaS / recurring business model Non-recurring(1) revenue as % of total 31% 24% 18% 14% Confirmed downtrend revenue of non-recurring revenues as clients shift to SaaS model Higher than expected level of Perpetual Licenses sales (+3%) in FY 2023 As
Slide 24: Gross margin improvement
Gross margin improvement Gross margin CAGR (%) 70% 69% 68% 71% 20-23 €111m 20% Gross margin €90m increased to 71% in 2023, marking ongoing €75m implementation of €64m contract inflation indexation and back to historical level pre- talent war Continued disciplined approach to expenses 2020 2021 2022
Slide 25: Focus on operating expenses
Focus on operating expenses R&D expenses at €20m, €68m reflecting our ambitions for continuous product development and €56m leadership 17% €45m Continued investment in 17% Sales & Marketing as we €38m continue enforce our 17% commercial platform 15% 14% 12% Increase of General & 11% Administration e
Slide 26: Confirmed adjusted EBITDA margin expansion
Confirmed adjusted EBITDA margin expansion Adj. EBITDA margin CAGR 33% 33% 31% 33% (%) 20-23 €52m 20% €41m €35m 2023 adjusted EBITDA €30m margin growing to 33%, reflecting our consistently high profitability ambitions and controlled cost base 2020 2021 2022 2023 (Adjusted EBITDA(1) in €m and % margi
Slide 27: Bridge to 2023 adjusted Free Cash Flow
Bridge to 2023 adjusted Free Cash Flow 84% 4 52 Income tax paid of c. €7.5m (5) 0.4 44 (8) Capex amounting to c.3% of total revenue in 2023 Change in working capital Positive effect of change in working capital in 2023, reaching increasingly normalized levels Adj. EBITDA Change in WC Capex Cash Tax
Slide 28: Net cash Bridge
Net cash Bridge 33 149 11 143 (4) (2) 121 (16) There was c.€0.4m financial debt at the end of 2022 The Group no longer has any financial debt, except for lease liabilities 2022 Cash Adj. Free Other June 2023 Dividends Adj. Free Other 2023 Cash position Cash Flow items Cash paid Cash Flow items posit
Slide 29: The Accelerator of the Project Economy
9 The Accelerator of the Project Economy Delivering on our growth story 2023: operational excellence Robust financial performance Outlook and conclusion Appendix
Slide 30: 2024 objectives confirmed and 2026 ambition reiterated
2024 objectives confirmed and 2026 ambition reiterated Mid-term FY2024 Commentary (2026 ambition) c. 19.5% 20%+ • Mid-term guidance reaffirmed: FY2026 business mix reflecting Topline Revenue (YoY constant (YoY constant further acceleration of “SaaS” revenue, with expansion enabled by Growth currency
Slide 31: Solid foundation for the next phase of growth
Solid foundation for the next phase of growth Global Category Accelerator of the Unrivaled Visionary Leader SaaS Project Economy Financial Profile Leadership Platform Multi-specialist and Megatrends fueling a Highly recurring Impeccable track- mission critical double-digit-growing business model rec
Slide 32: Q&A
2 Q&A
Slide 33: The Accelerator of the Project Economy
3 The Accelerator of the Project Economy Delivering on our growth story 2023: operational excellence Robust financial performance Outlook and conclusion Appendix
Slide 34: Profit & loss statement
Profit & loss statement (€m - FYE 31/12) 2023 2022 YoY Total Revenue 156.4 132.1 +18.4% Cost of sales (45.1) (42.3) +6.6% o/w D&A (3.2) (2.8) +12.5% Gross Margin 111.3 89.8 +24.0% R&D (20.0) (18.3) +9.0% o/w D&A (2.4) (2.4) (0.2%) S&M (27.1) (21.8) +24.1% o/w D&A (1.0) (0.7) +39.2% G&A (21.4) (16.0)
Slide 35: Cash flow statement
Cash flow statement In € million 2023 2022 YoY Adj. EBITDA 52.2 41.4 +26.1% % margin 33.4% 31.3% +202bps Change in Working Capital 3.6 (1.6) n.m. Capex (4.9) (4.8) +2.7% IPO costs paid 4.2 (0.2) n.m. Other non-cash items or non-current (3.8) (0.2) n.m. Cash Tax paid (7.5) (8.0) (6.7%) Adj. Free Cash
Slide 36: Strong cash position on Balance Sheet
Strong cash position on Balance Sheet (€m - FYE 31/12) 2023 Cash and cash equivalents 142.7 Trade receivables and contract assets 46.6 Other receivables and current assets 14.8 Total current assets 204.1 Goodwill 21.0 Intangible assets 7.6 Property, plant and equipment 4.6 Right-of-use assets 13.7 E
Slide 37: Thank you
7 Thank you For more information, please contact: Benoit d’Amécourt Head of Investor Relations benoit.damecourt@planisware.com +33 6 75 51 41 47