Telelink Business Services Group Ad · BSESOF:TBS
Telelink Business Services Group Ad — Telelink Business Services Group — Q1 2021 Earnings Presentation
17 slides from Telelink Business Services Group Ad's earnings presentation, Jun 2, 2021
Slide 1: Telelink Business Services Group Financial Digital Event Jun 02 2021
Telelink Business Services Group Financial Digital Event Jun 02 2021 • Consolidated Interim and TTM* Results as of March 31 2021 • Investor Calendar Update *Trailing 12 months period from April 01 2020 to March 31 2021
Slide 2: Financial Review Q1 & TTM 2021
Financial Review Q1 & TTM* 2021
Slide 3: P&L Trends
P&L TRENDS 25.0 0 • Revenue: 20.9 • Q1/Q1 21/20 = +11% 0 20.0 18.8 21.8% 18.3% 0 • Gross Profit: 15.0 15.6% • Q1/Q1 21/20 = +33% EUR million 14.3% • margin 21-20 = +3.5% 12.8% 12.1% 0 10.2 10.0 9.7% • EBITDA: 0 • Q1/Q1 21/20 = +36% 4.7% 4.6 • margin 21-20 = +2.8% 5.0 3.4 3.3 2.5 0 1.6% 2.4 1.8 1.5 •
Slide 4: P&L Trends (Detailed)
P&L TRENDS (DETAILED) 40% 39% 20.9 36% 18.8 33% 27% EUR million 21% 15% 11% Combined SG&A 4.6 19% 3.4 3.3 3.0 2.4 2.2 2.5 1.8 0.8 1.0 0.5 0.6 0.1 0.1 Revenue Gross Profit S&M G&A EBITDA Operating Net Fin. Net Profit Profit 03M2020a 03M2021a y/y growth S&M = Sales & Marketing Expenses, G&A = General
Slide 5: TTM P&L Trends
TTM* P&L TRENDS 80.0 0 71.4 20.7% • Revenue: 69.3 70.0 19.7% • TTM/FY 03’21/20 = +3% 18.0% 0 60.0 56.4 • Gross Profit: 50.0 13.4% • TTM/FY 03’21/20 = +8% 12.6% 0 EUR million 10.6% • margin = +1.0% 40.0 10.0% 9.3% 7.4% 0 • EBITDA: 30.0 • TTM/FY 03’21/20 = +10% 20.0 14.8 • margin = +0.8% 13.7 0 10.2 8
Slide 6: Revenue by Invoicing Region
REVENUE BY INVOICING REGION 35% -22% 32% EUR million, % = share in total 67% | 14.0 55% | 10.4 41% | 7.8 29% | 6.0 3% | 0.6 4% | 0.9 BG MWB SWB 03M 2020a 03M 2021a Q1/Q1 growth 21/20 BG = Bulgaria, incl. International Clients serviced by TBS EAD; MWB (Mid-Western Balkans) = Serbia, Montenegro, Bosni
Slide 7: Revenue by Sector
REVENUE BY SECTOR -20% 83% -44% EUR million, % = share in total 57% | 11.9 46% | 8.7 33% | 6.9 35% | 6.5 19% | 3.6 10% | 2.0 Telecom Public Enterprise 03M 2020a 03M 2021a Q1/Q1 growth 21/20
Slide 8: Revenue by Tech Group
REVENUE BY TECH GROUP -34% -29% 113% 25% 256% -64% 16% EUR million, % = share in total 39% 37% 7.3 7.7 26% 23% 23% 5.5 4.8 16% 19% 4.4 3.1 10% 3.6 1% 2% 1% 0% 1% 1% 2.2 0.1 0.5 0.1 0.0 0.1 0.1 SPS EC HC MW IS AS Other 03M 2020a 03M 2021a Y/Y growth Q1/Q1 growth20/19 21/20 SPS = Service Provider Spec
Slide 9: Interim Cash Flow
INTERIM CASH FLOW 2019a 2020a 03M 2021a • Operating: • (+) strong EBITDA • (-) substantial interim increase in non-cash net working capital (NWC) due to growing trade receivables 11.1 • Investing: 4.9 EUR million • (-) minimal CapEx for the year to 2.4 date 1.6 0.5 • Financing: -0.6 -0.7 -2.5 • (+)
Slide 10: Net Debt Position
NET DEBT POSITION 2019a 2020a 03M 2021a • Borrowings: • (+) increased working capital facility utilization in Serbia and 2.1 2.1 Albania 1.0 1.8 • (0) maintained zero credit line 1.1 0.7 0.6 utilization in Bulgaria (NWC increase met with own funds) -1.1 EUR million -3.9 -1.6 • Finance leases: -6.0 •
Slide 11: Dividend Policy
DIVIDEND POLICY Dec 31 Jun 30 Sep 30 FY Subsidiaries Profit Dividends from Subsidiaries FY Consolidated Profit Interim Individual Profit ≥ 50% of the Distributable Profit FY Individual Profit Dividends to the Shareholders Reserves Payout 2020: Payout 2021: • EUR 3.2 M, equivalent to 76% of • Factors
Slide 12: Share & Offering SPO Tranche 3
Share & Offering SPO Tranche 3
Slide 13: Share Performance & Facts
SHARE PERFORMANCE & FACTS 17.50 • Entered SOFIX in Mar 2021 17.00 16.50 • Price gains vs. listing: 16.00 15.50 • 117% at BGN 16.50 as of 15.00 Mar 31 2021 14.50 • 79% at BGN 13.60 as of price per share, BGN 14.00 Jun 01 2021, following 13.50 the announcement of 13.00 Tranche 3 at BGN 13.50 12.50 12.
Slide 14: Offering Tranche 3
OFFERING TRANCHE 3 • Quantity: • Up to 7% of the registered share capital (875,000 existing shares) • Taking the 3rd step towards the placement target of 30%: • After Tranche 1 (7.86%) and Tranche 2 (6.14%) • Potential further placement of up to 9% by the end of 2021 • Price: • BGN 13.50 per share •
Slide 15: Investor Calendar Update Jun 2021
Investor Calendar Update Jun 2021
Slide 16: Investor Calendar 2021
INVESTOR CALENDAR 2021 • Interim Financial Statements for the first half of 2021: • Jul 30: • Individual • including TBS Group AD Net Profit (basis of Interim Dividend to be proposed in Q3) • Aug 31: • Consolidated • General Meetings of Shareholders: • Jun 21, including approval of: • annual financi
Slide 17: Thank You!
THANK YOU!
Telelink Business Services Group — Q1 2021 Earnings Presentation on 6ix