Webstep As · OSL:WSTEP
Webstep As — Q1 2021 Earnings Presentation
22 slides from Webstep As's earnings presentation, May 20, 2021
Slide 1: Q1 2021 Webstep ASA
Q1 2021 Webstep ASA Oslo | 20 May 2021 Save Asmervik, CEO Fredrik Skuland, Interim CFO
Slide 2: Agenda
Agenda 1. Q1 highlights 2. Business review 3. Financial review 4. Outlook
Slide 3: Highlights from the quarter
Highlights from the quarter We
Slide 4: Q1 highlights
Q1 highlights NOKm ● Revenues increased by 6.1 percent to NOK 194.2 million ● EBIT increased by 38.5 percent to NOK 18.1 million NOKm ● 435 employees at the end of the quarter, up by 20 from the previous quarter and up 18 last twelve months ● Signed a three year framework agreement with Equinor of a
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 34.9% of total revenues – up from 30.3% in Q1 2020 7
Slide 8: Improving user experiences for a leading EV charging company
BUSINESS REVIEW Improving user experiences for a leading EV charging company ● Webstep delivering user design services improving awareness for Mer and their sustainable solutions ● Innovative user interface and recognizable design bridging the gap between the old brand and the new company ● Focusing
Slide 9: Supporting digital transformation in Equinor
BUSINESS REVIEW Supporting digital transformation in Equinor ● Framework agreement providing Equinor with increased capacity for DevOps teams ● Team-as-a-service delivered by Webstep ● IT experts working on software development in Equinor Equinor is a broad energy company committed to developing oil
Slide 10: Making efficient digital advertising products easily accessible
BUSINESS REVIEW Making efficient digital advertising products easily accessible ● Webstep selected as technology partner for the Markedsplassen project providing expertise on UX and tech, both strategic and operational ● Turnkey project developing a cloud-based solution with state-of-the-art usability
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 (-8) Oslo 164 ○ Investing in the experts Uppsala 11 (+18) Haugalandet (+2) ● 435 employees at the end of q
Slide 12: Financial review
Financial review e) oOo OS GQ mh ge We
Slide 13: Key figures - Group
FINANCIAL REVIEW Key figures - Group Q1 Q1 Y/Y FY NOK million 2021 2020 change 2020 Q1 highlights ● Revenue growth from own consultants driven by Revenues 194.2 183.0 6.1% 690.0 EBITDA 21.7 16.5 31.3% 63.9 headcount, utilization and hourly rates EBITDA margin 11.2% 9.0% 2.2 pts 9.3% ○ Q1 NOK 175.3m (
Slide 14: Key figures - Norway
FINANCIAL REVIEW Key figures - Norway Q1 Q1 Y/Y FY NOK million 2021 2020 change 2020 Q1 highlights ● Revenue growth driven by headcount, utilization and Revenues 165.7 155.4 6.6% 583.9 EBIT 15.8 10.6 49.3% 41.6 hourly rates EBIT margin 9.6% 6.8% 2.8 pts 7.1% ○ Strong growth in Oslo ○ Less use of subc
Slide 15: Key figures - Sweden
FINANCIAL REVIEW Key figures - Sweden Q1 Q1 Y/Y FY NOK million 2021 2020 change 2020 Q1 highlights ● Revenue growth of 1.4% (constant currency) Revenues 28.6 27.6 3.3% 106.1 EBIT 2.3 2.5 (8.4%) 8.4 ○ Growth from own consultants (+5.4%) EBIT margin 8.0% 8.9% (0.9 pts) 7.9% ○ Less use of subcontractors
Slide 16: Cash flow and net debt
FINANCIAL REVIEW Cash flow and net debt ( ) ( ) Q1 highlights ● Q1 free cash flow of NOK 7.4 ● Operating cash flow decreased from NOK 17.2m in Q1-20 to NOK 8.6m in Q1-21 ● Capex relates to office equipment ● Unutilzed credit facility of NOK 110m in Norway and SEK 5m in Sweden per end of quarter 31 Mar NO
Slide 17: Outlook
Outlook
Slide 18: Outlook
Outlook ● Positive market outlook ○ New, significant contracts signed ○ High demand for Webstep consultants ● Strong recruiting drive across the organization ○ Q1 was a very strong recruiting quarter ○ Number of employees at the end of Q2 will be slightly up as most of the signings will be onboarded
Slide 19: Questions?
Questions? Please contact us at ir@webstep.com
Slide 20: Appendix
O (es) Appendix oOo an We
Slide 21: Top shareholders at May 2021
APPENDIX Top 20 shareholders at 12 May 2021 Shareholder name Shares % EMBRO EIENDOM AS 7,758,391 28.6% Virtus KAR International Small-Cap 3,119,279 11.6% VERDIPAPIRFONDET ALFRED BERG GAMBA 1,556,645 5.8% NORDEA NORWEGIAN STARS FUND 1,041,345 3.7% JAKOB HATTELAND HOLDING AS 1,000,000 3.5% SALT VALUE
Slide 22: 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