Logo Yazilim Sanayi Ve Ticaret A.s. · BIST:LOGO
Logo Yazilim Sanayi Ve Ticaret A.s — Logo Yazılım Sanayi ve Ticaret A.Ş. — H1 2017 Earnings Presentation
15 slides from Logo Yazilim Sanayi Ve Ticaret A.s's earnings presentation, Aug 15, 2017
Slide 1: 1H2017 Results Presentation
1H2017 RESULTS PRESENTATION Gülnur ANLAŞ CHIEF FINANCIAL OFFICER August 15th, 2017
Slide 2: Disclaimer
Disclaimer This presentation contains information and analysis on financial statements as well as forward- looking statements that reflect Logo management’s current views with respect to certain future events. Although it is believed that the information and analysis are correct and expectations ref
Slide 3: Content
Content 1H17 Operating Highlights Financial Review Questions & Answers
Slide 4: Strong 2nd Quarter & Record-Setting 1H Results
Strong 2nd Quarter & Record-Setting 1H Results • All-time high figures were recorded at all levels. Logo’s invoiced revenue growth in 1H was 89% y/y, where 2Q revenue grew by 99% y/y. The first-time consolidation of TotalSoft and continued double-digit growth of 27% y/y in Turkey contributed to the
Slide 5: Strong 2nd Quarter & Record-Setting 1H Results
Strong 2nd Quarter & Record-Setting 1H Results • Integration of TotalSoft is on-going: re-organization, restructuring along with new talent acquisitions are underway to create a scalable and profitable business model. New executive appointments are finalized. • Logo Infosoft, India: Deployment of pr
Slide 6: Content
Content 1H17 Operating Highlights Financial Review Questions & Answers LOGO General IR Presentation 2014
Slide 7: Revenue Recognition
Revenue Recognition Invoices & IFRS Revenues* (TLmn) 80,0 Invoices IFRS Revenues 70,2 70,0 62,9 58,4 60,0 50,0 44,1 44,6 39,8 40,0 34,7 36,2 36,7 31,2 31,1 31,7 32,8 33,4 29,6 30,0 26,4 26,8 27,9 23,5 23,0 20,0 10,0 0,0 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 *Logo Turkey figures only. • e
Slide 8: Financial Summary
Financial Summary 1H 2Q YE Guidance LfL* LfL IFRS (mn TL) 1H 16 1H 17 D D 2Q 16 2Q17 D D 2017G D 1H17 2Q17 Revenue 72,9 116,9 60% 78,0 7% 36,7 63,3 73% 44,6 22% 278,3 46% EBITDA 38,7 41,2 7% 40,6 5% 18,4 23,0 25% 24,1 31% 91,5 6% EBITDA Margin 53% 35% 52% 50% 36% 54% 33% EBT 33,9 25,5 -25% 29,9 -12%
Slide 9: Invoiced Revenue vs IFRS
Invoiced Revenue vs IFRS 2Q Invoices & IFRS Revenues (TLmn) Invoiced Revenues (TLmn) 70 CAGR: 43% IFRS Revenues = 63 62 200 Invoices - Net Deferrals 176 60 180 Invoices 160 152 50 45 44 140 37 117 115 40 120 +89% 31 28 27 100 30 26 80 24 77 80 61 20 60 49 11 11 12 13 40 31 10 21 20 0 0 2Q12 2Q13 2Q1
Slide 10: Recurring Revenues
Recurring Revenues Recurring Invoices (TLmn) Recurring Invoices/Total Invoices (%) CAGR: 70% 90 84 100% 5% 80 90% 20% 73 29% 80% 41% 21% 70 48% 48% 40% 52% 53% 53% 50% +79% 57 70% 60 48 60% 50 41 50% 40 32 40% 80% 71% 34% 30 23 30% 59% 52% 48% 52% 47% 47% 50% 20 20% 10 10 10% LEM 0 0% Maintenance 20
Slide 11: Key Financials: R&D Expenses
Key Financials R&D Expenses(TLmn) - As % of IFRS Revenue R&D Spending(TLmn) - As % of Invoices 28% 30% 43% 140 116,9 120 100 72,9 78,0 80 60 49,7 40 23,4 20,7 20 0 1H16 LfL 1H17 1H17 Total Revenue R&D Expense • Overall operating expenses increased by 101% y/y, as a result of the first time consolida
Slide 12: Key Financials: S&M and G&A Expenses
Key Financials S&M (TLmn) - As % of IFRS Revenue G&A (TLmn) - As % of IFRS Revenue 20% 18% 18% 9% 9% 10% 70 63,3 70 63,3 60 60 50 44,6 50 44,6 40 36,7 40 36,7 30 30 20 11,4 20 7,2 8,2 6,3 10 10 3,3 3,9 0 0 2Q16 LfL 2Q17 2Q17 2Q16 LfL 2Q17 2Q17 Total Revenue S&M Expense Total Revenue G&A Expense • S&
Slide 13: Key Financials: Balance Sheet and Working Capital
Key Financials Balance Sheet Highlights (TLmn) Working Capital (TLmn) 2016 1H17 D 60% 130 54% Cash & Cash Eq. 43,8 56,3 29% 120 50% 110 Trade Receivables 92,9 81,3 -12% 44% 41% 41% 100 Tangible Assets 19,0 19,5 3% 37% 90 40% 36% Intangible Assets* 161,7 171,0 6% 80 31% 30% Other Assets 10,1 12,8 26%
Slide 14: Content
Content 1H17 Operating Highlights Financial Review Questions & Answers
Slide 15: Thank you for joining us today
Thank you for joining us today LOGO Investor Relations Team T: +90 262 679 8000 E: investor@logo.com.tr 15
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