Substrate Artificial Intelligence Sa · BME:SAI
Substrate Artificial Intelligence Sa — Substrate AI — Investor Day (July 2025)
26 slides from Substrate Artificial Intelligence Sa's investor day presentation, July 2025
Slide 1: Investor Day 2025
Investor Day 2025 Preview of results First half of 2025 JUL 2025
Slide 2: Legal Notice
Legal Notice This document may contain forward-looking statements and information (hereinafter in these intentions, expectations or forecasts. Among these risks and uncertainties are those referred to as "Statements") relating to Substrate AI (hereinafter referred to as "Substrate identified in the
Slide 3: Total results
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Slide 4: Comparable results: total revenue 13,217,111 euros
COMPARABLE RESULTS (Substrate AI + Subgen AI) TOTAL REVENUE 13,217,111 EUROS (+40%) TURNOVER 9,959,570 EUROS (+44%) EBITDA 3,091,374 EUROS (+92%) NORMALIZED EBITDA* 3,907,858 EUROS * Normalized EBITDA excludes non-recurring expenses
Slide 5: Comparable results: Substrate AI H1 2024 and 1H 2025
COMPARABLE RESULTS SUBSTRATE AI - H1 2024 RESULTS (Reviewed by the auditor) TOTAL REVENUE 9,452,051 EUROS TURNOVER 6,892,973 EUROS EBITDA 1,611,136 EUROS SUBSTRATE AI - 1H 2025 RESULTS WITHOUT SUBGEN AI (under review) TOTAL REVENUE 11,034,381 EUROS TURNOVER 8,677,380 EUROS EBITDA 1,662,325 EUROS NOR
Slide 6: Out-of-the-ordinary growth since 2021 thanks to its IPO
Substrate AI has seen out-of-the-ordinary growth since 2021 thanks to its IPO TOTAL REVENUE 1H24 -1H25 40% but in the last 3 years (2022 – 2024) X11.4 and in the last 4 years (2021 – 2024) X35.4 By turnover: In the last 3 years (2022 – 2024) X10.0 and in the last 4 years (2021 – 2024) X24.7
Slide 7: Only a few dozen companies achieve this level of extreme growth
Only a few dozen companies in the world achieve this level of extreme growth According to figures fromMcKinsey, We are talking about less than 20 companies in an analysis of 3,000 technology companies with a scalable approach. And they call it hyper-growth. The percentage is in the order of 0.5 –1 %
Slide 8: Some examples of high growth in listed small caps
Some examples of high growth in listed small caps (4 años) (5 años) (3 años) (4 años) (5 años) (5 años) (5 años)
Slide 9: Shareholder value created despite high dilution from the IPO
Substrate AI has created shareholder value despite the high dilution caused by the IPO crash Shares have gone from 22 million to 150 million X7 We have multiplied total revenues X35.4 and turnover X24.7 We have increased earnings per share 5 times more than dilution
Slide 10: Two lines of business
Substrate AI has achieved it thanks to two lines of business AI Projects Investment in companies with customers for your transformation
Slide 11: Configuration of our companies today
Today, This is the configuration of our companies Sector Agritech Sector Energy Sector Fintech Sector HR. Sector Health Sector Edtech Sector Deeptech
Slide 12: Adding a new line of business in line with our strategic plan
We are now adding a new line of business in line with our strategic plan AI Projects Investment in companies with customers for your transformation Computer sales AI Factories Construction
Slide 13: Investment in companies
Investment in companies
Slide 14: We continue with the plans presented
We continue with the plans presented: 1 Investment in companies We have focused on two We have made Subgen AI the main verticals matrix of the group HEALTH HR INTERNATIONALIZATION
Slide 15: Listing three companies
We continue with the plan we presented in 2024: Listing three companies To reach new sources of To prepare for the financing development of new projects To realize the value created in the invested subsidiaries
Slide 16: Health sector investments
HEALTH SECTOR Purchase of 4D Medica 2,000,000 EUROS Purchase of Diagximag 2,600,000 EUROS Investment in R+D 3,500,000 EUROS Total investment 8,100,000 EUROS RTO IPO (in process) 39,000,000 EUROS Value attributable to Substrate AI in the RTO 26,520,000 EUROS Potential gross return Substrate AI 227.5%
Slide 17: Tech sector: investment in Subgen AI
SECTOR TECH Investment in Subgen AI 23,090,000 EUROS Investment in R+D 5,000,000 EUROS Total investment 29,090,000 EUROS RTO IPO (in process) 200,000,000 EUROS Value attributable to Substrate AI in the RTO 38,000,000 EUROS Gross Potential Return Subgen AI 31% Investment multiply: 1.30 times + distri
Slide 18: Fleebe AI IPO path and two new acquisitions
SECTOR HR Fleebe AI is looking for its way to IPO. In the meantime, we have made two new acquisitions: IN USA IN SWITZERLAND Revenue 1.5M Revenue 2M Ebitda 200K Ebitda 350K
Slide 19: Work with clients
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Slide 20: Working with clients
Working with clients Capitalization of R+D: We have used the weapons offered by the Spanish R+D system to capitalise on our investments Thanks to that, we apply AI in Serenity Star, Fleebe Corporate and AI4D Multi Agent System AI for HR Smart Clinics
Slide 21: Sale of computation
Sale of computation
Slide 22: Computer sales: AI Factories construction
Computer sales AI Factories Construction We have received a grant of 19 million for the construction of our first data center in Talavera de la Reina We continue to work on closing the best financier for the project and the best partner. We are making new hires under the direction Mani Masshafi CEO
Slide 23: Computer sales: investment and revenue per MW
Investment per MW: Computer sales 10 million euros (plus hardware, various options on the market) To get an idea of what this can mean Revenue per MW: 14 million euros per year.100% occupancy. Ebitda: margins of 25% to 30% In Talavera de la Reina: A 5MW + 5MW project. In total operation, there is a
Slide 24: Investment and financing
Investment and financing
Slide 25: Capital-intensive company: financing options
To carry out all this requires investment. Substrate AI is a capital-intensive company. How do we finance ourselves? With all we can: Convertible bonds Buying companies in shares Loans Capital increases Bank debt This is how we are going to continue to do... and we welcome suggestions from any share
Slide 26: Conclusion
CONCLUSION We have grown above any expectation and we will continue to do so BECAUSE AI IS NOW We will use everything in our power to seize the opportunity to become one of Europe's largest AI companies You are all invited to do it with us.