Webstep As · OSL:WSTEP
Webstep As — Q1 2024 Earnings Presentation
26 slides from Webstep As's earnings presentation, May 23, 2024
Slide 1: Q1 Interim Results Presentation
Qi a Results Interim Presentation Kristine Lund, CEO Ida Amalie Oma, CFO Webstep ASA - 23 May 2024, Oslo WEBSTEP
Slide 2: Agenda
Agenda Highlights from the Financial Review quarter Organisation and Market update and projects outlook
Slide 3: Kristine Lund, Webstep CEO
Kristine Lund Webstep CEO May 2024 “Entering Webstep, the immediate feeling of belonging makes me confident that together we will ensure an exciting new chapter in the Webstep history.” Webstep Letter from the CEO 3
Slide 4: Highlights from the quarter
Highlights from the quarter
Slide 5: Highlights
Highlights New CEO appointed ● CEO Kristine Lund assumed the position from May 2024 ○ ● ● Revenue development and EBIT ○ Three fewer working days in the quarter compared to corresponding quarter ○ Reduced cost base starting to yield results ○ Accrued costs of 1.5 MNOK due to the temporary increase i
Slide 6: Organisation and projects
Organisation and projects
Slide 7: Organisation and employees
Organisation and employees The Webstep experience going forward ● Annual employee survey results confirms ○ Continued high employee satisfaction and likelihood of recommending Webstep to others ○ A reduction compared to last year, but still well above benchmark ○ Followed up with mitigation activitie
Slide 8: mLink: Digital platform for the world's largest supplier of multipurpose boats
mLink: Digital platform for the world's largest supplier of multipurpose boats to the aquaculture industry ● The maintenance and safety platform mLink simplifies, modernises and streamlines work processes ● mLInk integrates with essential systems, managing everything from documentation, equipment, pr
Slide 9: AMVConnected: Real-time hard data acquisition
AMVConnected: Real-time hard data acquisition ● AMV AS (Andersen Mekaniske Verksteder) integrates advanced technology with heavy machinery. ● Together with Webstep, AMV has developed AMVConnected, a SaaS platform for real-time machine data. ● AMVConnected allows AMV customers to monitor real-time da
Slide 10: Financial review
Financial review
Slide 11: Key figures - Group
Key figures - Group Q1 Comments Comparison to corresponding period last year Group Q1 Q1 FY ● Revenue ○ Revenue from own consultants NOK million 2024 2023 2023 ■ Q1 237.6 MNOK (- 5.1%) Revenues 261.9 277.2 1,000.0 ■ Three fewer working days and slightly lower utilisation in the regional offices of the
Slide 12: Norway Q1
Norway Q1 \ls 000 ll 1©l ui 71N Revenue EBIT-margin FTEs 1 228.7 MNOK 019.4% oP 448 (3.8%) (0.0 pts) (7)
Slide 13: Key figures - Norway
Key figures - Norway Q1 Comments Comparison to corresponding period last year Norway Q1 Q1 FY ● Revenues from own consultants NOK million 2024 2023 2023 ○ Q1 211.9 MNOK, decreased by 3.0% Revenues 228.7 237.6 857.7 ○ Adjusted for three less working days, revenue from own consultants at the same leve
Slide 14: Sweden Q1
Sweden Q1 \ls 000 il Te) i 71N Revenue EBIT-margin FTEs 07 33.2 MNOK Q1 2.3% EoP 83 (16.0%) (4.8 pts) (19)
Slide 15: Key figures - Sweden
Key figures - Sweden Q1 Comments Comparison to corresponding period last year Sweden Q1 Q1 FY ● Market NOK million 2024 2023 2023 ○ The Swedish market is still characterised by Revenues 33.2 39.5 142.3 reduced market demand for IT consulting services and prolonged sales cycles Change (16.0%) EBIT 0.
Slide 16: Market update and outlook
Market update and outlook
Slide 17: Webstep market update
Webstep market update ● Slow markets - increased competition Sweden more affected than Norway ● Challenging times - competitive advantage Webstep’s expert consultants prove to be an advantage in challenging times ● Enterprise market - renewed trust Focus on the enterprise market and large clients, r
Slide 18: Outlook
Outlook ● Benefits from Webstep expert consultants A proven advantage in challenging markets ● Increasing focus on enterprise market and large clients Enables Webstep to utilise its resources more effectively ● ● Recruitment balanced against profitable growth Expect to be approximately 527 employees b
Slide 19: Questions?
Questions? Please contact us at ir@webstep.com
Slide 20: Appendix
Appendix
Slide 21: Customer base characteristics
Customer base characteristics Optimizing sales and strengthening focus on A large and loyal customer base in both private and A diversified customers base between business enterprise market and large clients public sector sectors 21
Slide 22: Cash flow and net debt
Cash flow and net debt 31 Mar NOK million 2024 Cash and cash equivalents* (42.7) Restricted cash 1.8 Debt to credit institutions 0.0 Net interest bearing debt (NIBD)** (40.9) NIBD/EBITDA (rolling 12 months) (0.6) NIBD/EBITDA (rolling 12 months) 0.8 Including IFRS 16 Lease liabilities ● The Group has
Slide 23: Top 20 shareholders at 21 May 2024
Top 20 shareholders at 21 May 2024 23
Slide 24: Revenue, EBIT and FTE development
Revenue, EBIT and FTE development Revenue (LTM) EBIT (LTM) Number of FTEs (EoP) 24
Slide 25: Number of FTEs, end of period
Number of FTEs, end of period Number of FTEs, end of period Q1 Q4 Q3 Q2 Q1 Norway 2024 2023 2023 2023 2023 Norway total 448 471 463 459 455 Oslo 211 223 221 211 205 Bergen 84 91 90 94 92 Trondheim 65 65 64 61 64 Stavanger 56 59 57 62 63 Sørlandet 23 24 22 22 21 Haugalandet 9 9 9 9 10 Q1 Q4 Q3 Q2 Q1
Slide 26: 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