Webstep As · OSL:WSTEP
Webstep As — Q2 2021 Earnings Presentation
23 slides from Webstep As's earnings presentation, Aug 24, 2021
Slide 1: Q2 2021 Webstep ASA
Q2 2021 Webstep ASA Oslo | 24 August 2021 Save Asmervik, CEO
Slide 2: Agenda
Agenda 1. Q2 highlights 2. Business review 3. Financial review 4. Outlook
Slide 3: Highlights from the quarter
Highlights from the quarter We
Slide 4: Q2 highlights
Q2 highlights NOKm ● Revenues increased by 13.4 percent to NOK 195.5 million ● EBIT increased by 19.1 percent to NOK 19.9 million NOKm ● 439 employees at the end of the quarter, up by 4 from the previous quarter and up 25 last twelve months ● Continued strong growth in Oslo * Change in provision met
Slide 5: Business review
Business review e) oOo OS GQ mh ge We
Slide 6: Go-to-market model
BUSINESS REVIEW Go-to-market model Experts for hire Client run projects IT Expert House Services and solutions based on Team-as-a-Service leading tech platforms Webstep run projects Projects & Solutions WEBSTEP DELIVERY MODEL CUSTOMER
Slide 7: A diversified customer base
BUSINESS REVIEW A diversified customer base Top 10 customers represent 37.0% of total revenues – up from 32.1% in Q1 2020 7
Slide 8: Helping Laerdal Medical save lives
BUSINESS REVIEW Helping Laerdal Medical save lives ● Long term partnership in technology and digital services ● Supporting Laerdal in developing even more user friendly products ● Project management and agile coaching in a number of projects Laerdal Medical is dedicated to their mission of helping s
Slide 9: Ensuring high speed connectivity and excellent customer service
BUSINESS REVIEW Ensuring high speed connectivity and excellent customer service ● Webstep contributes to secure connectivity for 1.2 million Norwegians ● Developing new solutions to further improve customer service ● Making sure that large amounts of data flow seamlessly between systems and end users
Slide 10: Supporting development of efficient public services
BUSINESS REVIEW Supporting development of efficient public services ● KS coordinate development of digital solutions supporting citizen services and public welfare ● Webstep has for years been a preferred partner, and has recently renewed the agreement with KS ● The agreement allows Webstep to activel
Slide 11: Organization and employees
BUSINESS REVIEW Organization and employees ● Strong local presence Trondheim 60 ○ Close to the Customer ○ Strategic Partner (+6) 63 Bergen ● Building Competence ○ High quality competence events (-7) Oslo 163 ○ Investing in the experts Uppsala 14 (+18) Haugalandet (+6) ● 439 employees at the end of q
Slide 12: Community involvement
BUSINESS REVIEW Community involvement ● Webstep recognized as thought leader in the industry ● TENK Tech Camp + Jenter og teknologi ● Invited to Arendalsuka by Abelia debating how data can create jobs
Slide 13: Financial review
Financial review e) oOo OS GQ mh ge We
Slide 14: Key figures - Group
FINANCIAL REVIEW Key figures - Group Q2 Q2 Y/Y YTD YTD Y/Y FY NOK million 2021 2020* change 2021 2020* change 2020 Q2 highlights ● Revenue growth from own consultants Revenues 195.5 172.4 13.4% 389.8 355.4 9.7% 690.0 driven by headcount, utilization and EBITDA 23.4 20.1 16.2% 45.1 36.7 23.0% 63.9 EBI
Slide 15: Key figures - Norway
FINANCIAL REVIEW Key figures - Norway Q2 Q2 Y/Y YTD YTD Y/Y FY NOK million 2021 2020* change 2021 2020* change 2020 Q2 highlights ● Revenue growth driven by headcount, Revenues 168.6 145.7 15.7% 334.2 301.1 11.0% 583.9 EBIT 18.5 13.9 33.4% 34.3 24.5 40.3% 41.6 utilization and hourly rates EBIT margin
Slide 16: Key figures - Sweden
FINANCIAL REVIEW Key figures - Sweden Q2 Q2 Y/Y YTD YTD Y/Y FY NOK million 2021 2020 change 2021 2020 change 2020 Q2 highlights ● Revenue growth of 5.4% (constant Revenues 27.0 26.7 1.0% 55.5 54.3 2.2% 106.1 EBIT 1.3 2.8 (52.0%) 3.6 5.3 (31.4%) 8.4 currency) EBIT margin 5.0% 10.4% (5.4pts) 6.5% 9.7%
Slide 17: Cash flow and net debt
FINANCIAL REVIEW Cash flow and net debt Q2 highlights ● Q2 free cash flow of NOK -5.6 ● Operating cash flow mainly impacted by temporarily increased trade receivables in Q2 ● Capex relates to office equipment ● Credit facility of NOK 110m in Norway and SEK 5m in Sweden per end of quarter 30 June NOK mill
Slide 18: Outlook
Outlook
Slide 19: Outlook
Outlook ● Positive market outlook ○ High demand for Webstep services and consultants ● Strong recruiting drive across the organization ○ Q2 was a strong recruiting quarter ○ Reduced employee turnover ○ Number of employees is expected to increase to around 465 by the end of Q3 ● Organic growth in exi
Slide 20: Questions?
Questions? Please contact us at ir@webstep.com
Slide 21: Appendix
O (es) Appendix oOo an We
Slide 22: Top shareholders at August 2021
APPENDIX Top 20 shareholders at 17 August 2021 Shareholder name Shares % EMBRO EIENDOM AS 7,759,382 28.6% The Bank of New York Mellon 3,119,279 11.5% Nominee VERDIPAPIRFONDET ALFRED BERG GAMBA 1,556,645 5.7% J.P. Morgan Bank Luxembourg S.A. 1,041,345 3.8% Nominee JAKOB HATTELAND HOLDING AS 1,000,000
Slide 23: Disclaimer
Disclaimer This Presentation includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. These statements and this Presentation are based on current expectations, estimates and projections abo