Cy4gate Spa · MIL:CY4
Cy4gate Spa — FY2024 Earnings Presentation
16 slides from Cy4gate Spa's earnings presentation, Mar 12, 2025
Slide 1: Cy4Gate FY 2024 Financial Results
Cy4Gate FY 2024 Financial Results March 12, 2025
Slide 2: Agenda
AGENDA ➢ FY 2024 Financials ➢ Strategy & Outlook
Slide 3: Speakers
Speakers EMANUELE GALTIERI MARCO LATINI Top Management CEO & General Manager CFO & Investor Relations Manager 3
Slide 4: Highlights
Highlights The results of 2024 confirm the soundness of the CY4Gate Group. It continues on its path of consolidation driven by organic growth and M&A. 2024 New orders acquired equal to €84 million, +15% compared to 2023 and Backlog as at 31 December 2024 at €36 million, +40% compared to 2023 The Val
Slide 5: Financials
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Slide 6: FY 2024 Key Data
FY 2024 Key Data Revenues¹ (€ mln) R&D (€ mln) EBITDA Adj. (€ mln) Adj. -0.9% EBITDA +10.0% +10.1% 12.1 12.0 2.7 0.3 68.3 75.1 7.2 7.9 9.3 11.6 FY 2023 FY 2024 FY 2023 FY 2024 FY 2023 FY 2024 ▪ Revenues +10% (+3% by organic ▪ R&D Costs +10% compared to ▪ EBITDA Adjusted at €12.0 million growth) comp
Slide 7: Revenues Breakdown
FY 2024 Revenues Breakdown By business line By geographical area Decision Intelligence Forensic Intelligence Cyber Security Italy Export ~63% ~65% 15% 30% 40% 40% ~37% ~35% 45% 30% FY 2023 FY 2024 FY 2023 FY 2024 Business mix changes, mainly due to the Despite the lack of foreign Forensic sales, the
Slide 8: People Investment
FY 2024 People Investment Positive Items Negative Items Total 19 (84) 113 552 529 (25) Total personnel increased in 504 25 2024 by a total of 48 resources: ▪ Increase of 25 resources related to the XTN acquisition ▪ Increase of 132 resources in engineering and commercial compared to 109 exits Cy4Gat
Slide 9: NFP Bridge
FY 2024 NFP Bridge Positive Items Negative Items Total € mln 1.6 (5.9) 11.6 (14.8) (13.6) (1.6) (2.2) (5.6) 1.6 (2.0) (30.9) NFP 2023 EBITDA Change M&A Capex Treasury Interests Taxes Others Payout NFP FY NWC Shares Minorities 2024 Put option liability Put option liability 5.7 4.2 NFP FY 2023 w/o NFP
Slide 10: Profit & Loss
FY 2024 Profit & Loss 1 € mln FY 2024 1 FY 2023 Operating Revenues 72.4 66.5 Other Operating Revenues 2.7 1.8 Total Revenues 75.1 68.3 Services, Procurement & 30.3 27.1 other operating costs Personnel Costs 32.8 29.1 Costs 63.1 56.2 EBITDA Adjusted 12.0 12.1 D&A [including leasing costs] (16.8) (12.
Slide 11: Asset & Liabilities
FY 2024 Asset & Liabilities € mln FY 2024 FY 2023 Fixed assets 98.0 87.9 Inventory 1.0 0.8 Contract assets (liabilities) 6.0 3.1 Trade receivables 49.9 53.7 Trade payables (11.9) (14.4) Trade Working Capital 45.0 43.1 Other assets (liabilities) (9.7) (6.3) Net Working Capital 35.2 36.8 Net Capital I
Slide 12: Strategy & Outlook
(modifier ted_ob Strategy & Outlook CY GATE Part of ELT Group
Slide 13: Our growth Strategy: Market
Our growth Strategy: Market Cy4Gate Group portfolio – cyber intelligence & cyber security products - perfectly fits with the following 3 fast growing markets, both in Italy and abroad: Products involved ▪ Increasing internal and external security threats and undergoing military network-centric moder
Slide 14: Our growth Strategy: Actions
Our growth Strategy: Actions 2025-2026 ▪ Consolidate our relationships with ELT by working to acquire orders in a thriving business ▪ Take part to international consortia or JVs for pluriannual defence programs Defence ▪ Capture EU funds (NATO, EDA, ESA) for R&D in the cyber also through industrial
Slide 15: Outlook 2025
Outlook 2025 BACKLOG/RECURRING PIPELINE CONVERSION TOTAL REVENUES Euro ~ 67 M Euro ~ 19 M Euro 84 - 87 M 15
Slide 16: Follow us
Follow us: Headquarter Via Coponia, 8 00131 Rome - Italy CFO & Investor Relations Manager Marco Latini investors@cy4gate.com Investor Relations Advisor CDR Communication silvia.dirosa@cdr-communication.it luca.gentili@cdr-communication.it 16