Ssh Communications Security Oyj · OMXHEX:SSH1V

Ssh Communications Security Oyj — Q1 2002 Earnings Presentation

17 slides from Ssh Communications Security Oyj's earnings presentation, April 2002

  1. Slide 1: SSH Communications Security Corp Financial Results January 1 – March 31 2002

    SSH COMMUNICATIONS SECURITY CORP FINANCIAL RESULTS January 1 – March 31 2002 WELCOME! COPYRIGHT © 200 2 SSH COMMUNICATIONS SECURITY OYJ. ALL RIGHTS RESERVED. www.ssh.com 1

  2. Slide 2: Business Review January 1 – March 31 2002

    Business Review January 1 – March 31 2002 Tatu Ylönen CEO SSH Communications Security Corp COPYRIGHT © 200 2 SSH COMMUNICATIONS SECURITY OYJ. ALL RIGHTS RESERVED. www.ssh.com 2

  3. Slide 3: Market Development

    Market Development § The overall uncertainty in the data security and IT markets continued § Buying behavior in the IT sector was cautious and IT investments were being considered carefully § Global economy showed some slight signs of recovery § Large telecommunications equipment manufacturers are c

  4. Slide 4: Sales During 1Q02

    Sales During 1Q02 § Net sales EUR 4.4 million § Of the net sales 42.4 % consisted of IPSec Toolkits, 49.2% of Secure Shell and 8.4% of the new products § 26 new license or maintenance agreements, worth more than EUR 50,000 each were concluded § 9 new channel partner agreements were signed during 1Q0

  5. Slide 5: Events After the Report Period

    Events After the Report Period § SSH focuses on developing software-based data security and data management products § Company discontinues the development of VPN hardware and studies to possibility to license the VPN hardware technology § SSH commences a employer/employee negotiation process § Reas

  6. Slide 6: Business Outlook 2002

    Business Outlook 2002 § Challenging market situation and weak visibility likely to continue despite some positive signs from the market § Interest toward security products is good in SSH’s main markets § Company still estimates that net sales growth percentage during 2002 will at least achieve the l

  7. Slide 7: Financials January 1 – March 31 2002

    FINANCIALS January 1 – March 31 2002 Johanna Lamminen CFO SSH Communications Security Corp COPYRIGHT © 200 2 SSH COMMUNICATIONS SECURITY OYJ. ALL RIGHTS RESERVED. www.ssh.com 7

  8. Slide 8: Financial Highlights 1Q02

    Financial Highlights 1Q02 § Net sales EUR 4.4 million § Transition to IAS accounting principles reduced the net sales EUR 0.2 million § Operating result EUR –2.8 million (EUR -0.1 million) § R&D expenses were 47.6% of the net sales § Costs were controlled tightly, still sales and marketing expenses

  9. Slide 9: Key Financials 1Q02

    Key Financials 1Q02 EUR 1000 1Q02 % of sales 1Q01 % of sales Revenues 4 357 6 404 Gross Margin 3 655 83.9 % 5 019 78.4 % Research and Development 2 074 47.6 % 2 113 33.0 % Sales and Marketing 3 227 74.1 % 2 271 35.5 % Administration 1 369 31.4 % 978 15.3 % Other Operating Income 211 251 EBIT -2 804

  10. Slide 10: Quarterly Financials 1Q01–1Q02

    Quarterly Financials 1Q01–1Q02 EUR 1000 1Q02 4Q01 3Q01 2Q01 1Q01 2001 Revenues 4 357 4 864 4 458 4 125 6 404 19 851 Gross Margin 3 655 3 446 3 550 3 204 5 019 15 219 Research and Development 2 074 2 007 2 033 1 917 2 113 8 070 Sales and Marketing 3 227 2 963 2 442 2 551 2 271 10 027 Administration 1

  11. Slide 11: Net Sales by Market 1Q02

    Net Sales by Market 1Q02 Others 17.8% Others North America 12.8% 39.7% Europe Europe 23.2% 15.9% North America 49.7% Finland 21.6% Finland 19.3% 1Q02 EUR 4,4 million FY2001 EUR 19,9 million COPYRIGHT © 200 2 SSH COMMUNICATIONS SECURITY OYJ. ALL RIGHTS RESERVED. www.ssh.com 11

  12. Slide 12: Net Sales by Contract Type

    Net Sales by Contract Type EUR million One time licence fees Royalties, associated down payments, and maintenance fees 7 6 5 4 3 2 1 0 1Q00 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01 4Q01 1Q02 COPYRIGHT © 200 2 SSH COMMUNICATIONS SECURITY OYJ. ALL RIGHTS RESERVED. www.ssh.com 12

  13. Slide 13: Development of Number of Personnel, Revenue and EBIT

    Development of Number of Personnel, Revenue and EBIT EUR million Personnel Revenue EBIT 200 6 5 4 150 3 2 100 1 0 50 -1 -2 -3 0 1Q00 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01 4Q01 1Q02 COPYRIGHT © 200 2 SSH COMMUNICATIONS SECURITY OYJ. ALL RIGHTS RESERVED. www.ssh.com 13

  14. Slide 14: Financial Targets 2002

    Financial Targets 2002 § SSH’s net sales growth percentage during 2002 will at the least remain at the same level attained in 2001 § Company’s result negative will be for the financial year 2002 COPYRIGHT © 200 2 SSH COMMUNICATIONS SECURITY OYJ. ALL RIGHTS RESERVED. www.ssh.com 14

  15. Slide 15: Further Information

    Further Information: Tatu Ylönen, CEO, +358 20 500 7406 Johanna Lamminen, CFO, +358 20 500 7419 Kare Laukkanen, Director, Investor Relations, +358 20 500 7433 THANK YOU! COPYRIGHT © 200 2 SSH COMMUNICATIONS SECURITY OYJ. ALL RIGHTS RESERVED. www.ssh.com 15

  16. Slide 16: Tight Cost Control Continues

    Tight Cost Control Continues Sales & Marketing EUR million Research & Development Administration 8 7 6 5 4 3 2 1 0 1Q00 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01 4Q01 1Q02 COPYRIGHT © 200 2 SSH COMMUNICATIONS SECURITY OYJ. ALL RIGHTS RESERVED. www.ssh.com 16

  17. Slide 17: Net Sales and EBIT by Quarter

    Net Sales and EBIT by Quarter EUR million Net Sales Net Sales Trendline EBIT 7 6 5 4 3 2 1 0 -1 -2 -3 1Q00 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01 4Q01 1Q02 COPYRIGHT © 200 2 SSH COMMUNICATIONS SECURITY OYJ. ALL RIGHTS RESERVED. www.ssh.com 17

SSH Communications Security — Q1 2002 Earnings Presentation on 6ix