Eezy Oyj · OMXHEX:EEZY
Eezy Oyj — Q1 2025 Earnings Presentation
26 slides from Eezy Oyj's earnings presentation, 2025
Slide 1: Eezy Plc Interim report Q1/2025
Eezy Plc Interim report Q1/2025 Siina Saksi, CEO Joni Aaltonen, CFO
Slide 2: Agenda
Eezy Q1/2025 AGENDA • Interim report 1-3/2025 • Strategy ”GoodWork2028” in progress • Q&A
Slide 3: Interim report Q1/2025
Interim report Q1/2025 cezy)
Slide 4: Weak demand reduced EBIT, performance improvement program is progressing
Eezy Q1/2025 Weak demand reduced EBIT, performance improvement program is progressing Q1/2025 Q1/2024 Revenue 33.7 M€ (-19%) 41.5 M€ Chain-wide revenue 53.0 M€ (-12%) 60.0 M€ EBITDA 1.3 M€ 2.3 M€ EBITDA margin % 3.9% 5.5% EBIT -0.4 M€ 0.5 M€ EBIT-% -1.1% 1.2% EPS -0.04€ 0.01€ • Decline in revenue du
Slide 5: Staffing services
Staffing services a
Slide 6: The staffing services market contracted in 2024, but will grow over the strategy period
The staffing services market contracted in 2024, but will grow over the strategy period Eezy already has a significant foothold in many sectors and has a strategy to grow in new sectors Segment Market size 2024 Industry Industry € 630-680 million Social and health Sote care € 590-640 million Office
Slide 7: Staffing services Q1/2025: Demand remains weak
Staffing services Q1/2025 Demand remains weak Staffing services Q1/25 Staffing services Q1/24 27.8M€ 33.6M€ (-17%) • Revenue across the chain (group + entrepreneurs) -10% vs Q1/2024. • Revenue was stronger in March than the weak January and February. • Labour demand remains subdued, especially in ma
Slide 8: We strengthened our network of entrepreneurs
We strengthened our network of entrepreneurs • We strongly believe in an entrepreneur-driven operating model, through which we aim to achieve growth in both local and national customer relationships and more stable profitability. • We have strengthened our franchisee entrepreneur network and agreed
Slide 9: Professional services
Professional services
Slide 10: The market for professional services is around €500m
The market for professional services is around €500m - Growth potential, especially in human capital development and employment services Segment Market size 2024 Employment services. Stable market in the long term, TE reform brings temporary uncertainty. Eezy has a strong and well-established positi
Slide 11: Professional services Q1/2025: Decline in revenue in Employment services
Professional services Q1/2025 Decline in revenue in Employment services Professional services Q1/25 Professional services Q1/24 6.1M€ 8.0M€ (-24%) • The changes brought about by the public administration's TE services reform are reflected in weaker demand for Employment services and slow decision-ma
Slide 12: Financial information
Financial information
Slide 13: Income statement
Eezy Q1/2025 Income statement EUR thousand 01-03/2025 01-03/2024 2024 • Revenue was particularly affected by a Revenue 33 721 41 450 174 054 decline in revenue in Staffing services and Other operating income 189 80 504 Employment services. Materials and services -1 634 -2 262 -8 562 Personnel expens
Slide 14: Balance sheet
Eezy Q1/2025 Balance sheet EUR thousand 03/2025 03/2024 12/2024 • Goodwill and intangible assets approx. EUR 164.1 ASSETS million Goodwill 141 654 141 654 141 654 Intangible assets 22 427 23 112 22 197 o Goodwill impairment testing did not detect any signs Tangible assets 4 600 7 668 5 016 for impai
Slide 15: Cash flow statement
Eezy Q1/2025 Cash flow statement EUR thousand 01-03/2025 01-03/2024 2024 • Net cash flow from operating activities Cash flows from operating activities 36 075 44 740 182 371 EUR -0.7 million in Q12025 Customer payments received Cash paid to suppliers and employees -36 046 -45 548 -169 170 (Q12024 EU
Slide 16: Balance sheet key figures
Eezy Q1/2025 Balance sheet key figures EUR thousand 03/2025 12/2024 09/2024 06/2024 03/2024 Net debt 54 884 52 749 57 866 60 006 60 221 Net debt excluding IFRS16 49 764 47 076 51 740 53 135 52 796 Net debt / EBITDA 5.9 x 5.1 x 5.0 x 4.7 x 4.5 x Gearing, % 51.1 % 48.6% 53.0 % 54.9% 54.8 % Equity
Slide 17: Financing negotiations concluded
Financing negotiations concluded • Eezy announced on 30.4.2025 that it has concluded its financing negotiations. • Eezy has agreed with Varma Mutual Pension Insurance Company and Nordea Bank Plc on the renewal of the current financing package. • New covenant levels applicable to all loans to the Com
Slide 18: Outlook for 2025
Outlook for 2025 • The year continues in an uncertain economic climate, and our customers' views on their own labour needs and investment capacity are still uncertain. • In previous cycles, our industry has responded quickly to the economic cycle. We do not provide guidance for 2025.
Slide 19: #GoodWork2028 Taking the strategy forward
#GoodWork2028 Taking the strategy forward Focus on Making a good working life, together
Slide 20: #GoodWork2028 vision, mission and long-term financial targets 2028
Long-term financial #GoodWork 2028 VISION targets 2028 MISSION MAKER OF A LET’S MAKE Staffing: Faster revenue growth than the GOOD WORK A staffing market growth WORKING HAPPY Professional Services: Doubling the revenue LIFE MATTER EBIT (EBIT) margin: 8 per cent in 2028 Sources for Competitive advant
Slide 21: Priorities for 2025
Priorities for 2025 • Seeking growth from our national network in our areas of strength, from both existing and new customers. GROWTH FROM • Increasing the average sales for existing customers with a broad CUSTOMERS portfolio of services. • Sales volume growth through the adoption of AI-enabled tech
Slide 22: Accelerating the performance improvement programme
Strategy progress Accelerating the performance improvement programme • The performance improvement programme, launched in summer 2024, aimed to achieve savings of EUR 2.8 million. The full benefits, e.g. from outsourcing, will be realised in the second half of 2025. The timing of the lease liabiliti
Slide 23: The development and implementation of AI-assisted technology in Staffing has been successful
The development and implementation of Strategy progress AI-assisted technology in Staffing has been successful • Our target is to significantly increase growth and profitability • Growth is driven by better customer and employee engagement, faster fulfilment of short orders and new customers who app
Slide 24: Johan Westermarck has been appointed CEO on April 7, starting May 15, 2025
Johan Westermarck has been appointed CEO on April 7, starting May 15, 2025 • Lic.Sc. (Econ.), M.Sc (Tech.) • Born 1965 • Finnish citizen • Independent of the company and significant shareholders Relevant work experience • Bittium Plc, President and CEO 2023-2025 • Citec Group Oy Ab, Managing Directo
Slide 25: Q&A
Q&A
Slide 26: Thank You!
Thank You! &