Slide 1: Investor presentation April 2024 (Q1-2024)
Investor presentation April 2024 (Q1-2024)
Slide 2: Content
Content • cBrain facts & numbers • Q1 Highlights • Business Highlights • Our Business • Market and Value Proposition • Product – The F2 Software • Customer & Growth Plan • Outlook • Corporate Sustainability and Responsibility
Slide 3: cBrain facts & numbers
cBrain facts & numbers • Founded in 2002 by CEO Per Tejs Knudsen • We deliver a unique platform for e-government. One of a kind, standard software, built for government. F2 • Listed on NASDAQ Copenhagen 2006 • 14.000+ shareholders in 40 countries • 210+ employees in 7 locations • Customers on 5 cont
Slide 4: Q1 2024 Highlight
Q1 2024 Highlight
Slide 5: cBrain continues to execute the growth plan 2023-25
cBrain continues to execute the growth plan 2023-25 • Growth plan 2023-25 • Attacking the market for mission critical solutions (agencies) based on standard software • F2 Climate Solutions (climate, environment and energy) • F2 for Partners • cBrain forecasts unchanged revenue growth of 20-25% • By
Slide 6: cBrain continues to win new projects and customers
cBrain continues to win new projects and customers • The Danish Working Environment Authority. Completion of the first phase of a large digital transformation project (F2 based digital platform for work environment inspections went live). Further expansion of engagement. • The Danish Environmental P
Slide 7: F2 AI Assistant initiates a new line of business
F2 AI Assistant initiates a new line of business • Based on a cooperation with the Ministry of Digital Government and the Environmental Protection Agency. • By releasing F2 AI Assistant cBrain takes a lead within the field of AI for government • F2 AI Assistant operates on premise, designed for gove
Slide 8: F2 AI Products
F2 AI Products F2 AI Assistant Machine Learning F2 AI Insight Copilot in mission critical integration processes θ
Slide 9: F2 AI Tech stack
F2 AI Tech stack Process ML feature definition NLP Chat- Proces layer interface Data Q&A F2 Service NLP Chat- Builder interface F2 database Q&A LLM server Dataset Vectors Dataset definition Vector server
Slide 10: F2 for Environmental permitting based on customer-specific AI
F2 for Environmental permitting based on customer-specific AI cBrain demonstrates F2 AI enabled permitting at GSA in Washington together with the Danish EPA Danish EPA Director participates in a meeting in the White House
Slide 11: Financial Results
Financial Results CBRAIN
Slide 12: Year report 2023
SHARE Or Saver SOFTWARE,
Slide 13: Revenue split by Denmark/International and Software/Services
240.000 200.000 160.000 120.000 80.000 40.000 REVENUE split by Sales in Denmark and International ill 2019 2020 Il Sales in Denmark 2021 2022 2023 || International sales REVENUE split by Software and Sales of Services 240.000 200.000 160.000 120.000 80.000 40.000 2019 2020 2021 2022 2023 Il Software
Slide 14: Earnings before tax
EARNINGS before tax 80.000 60.000 40.000 20.000 0 2019 2020 2021 2022 2023 Earnings before income taxes (EBT)
Slide 15: Business Highlights
Business Highlights CBRAIN
Slide 16: Highlights - Customers
Highlights - Customers Deutsche Rentenversicherung Danish Hunting License Kenya Dairy Board Delivering a new hunting license In Kenya a pilot project of digital In December 2023 cBrain won the solution for the Danish Agency of management inspections, has given “Danish company of the year” by the Env
Slide 17: Highlights - Customers
Highlights - Customers • Heat Pump Adoption Scheme with Highly Automated Subsidy Processing implemented for the Danish Agency of Energy (Energistyrelsen) • Implementation of inspection processes for the Danish Working Environment Authority (Arbejdstilsynet) • The Danish Agency for Labour Market and
Slide 18: Events
Events High Level Water Official visiting 45 foreign ambassadors joined the cBrain from China, Thailand, cBrain International Climate Indonesia, Malaysia, Vietnam and Action Event the Philippines cBrain participated at the The Danish EPA and cBrain UN Water Conference sharing were invited as the onl
Slide 19: Partnerships - examples
Partnerships - examples Romania India Ghana cBrain was in 2023 awarded the first cBrain showcasing software to His In January cBrain established a joint Majesty King Frederik of Denmark at venture with Omni Strategies in project in Romania. In December 2023, Ghana. the Official Royal Visit to India,
Slide 20: Our Business: Market and Value Proposition
Our Business Market and Value Proposition
Slide 21: By leveraging standard software, cBrain offers fast digital transformation at scale
By leveraging standard software, cBrain offers government organizations fast digital transformation at scale
Slide 22: Key take aways
Key take aways Transforming government through digitization represents a huge opportunity Industry analysts estimate that by digitizing processes, based on best practices and aligning the organization, governments can enhance services, improve citizens’ quality of life, while generating savings of o
Slide 23: The adoption of standard software is a game-changing approach
“ The adoption of standard software is a game-changing approach. It empowers organizations to focus on the actual benefits of digitalization, driven through process innovation and organizational change.
Slide 24: How to speed up government digital transformation
24 How to speed up government digital transformation IT system: 80% Organization: 20% >= Ogareaton:10% verrun: 30% IT system: 20% Organization: 30%
Slide 25: Our Business: The F2 Software
25 Our Business The F2 Software CBRAIN
Slide 26: With F2 we have proven what only few believed possible
With F2 we have proven what only few believed possible SaaS for Government Standard software, built for government, delivered as cloud.
Slide 27: Standard software for government
Standard software for government One fully integrated platform Standard software Process templates Offers out-of-the-box all ready for operation Configured for individual mission the functions a government without custom coding, critical processes, covering all authority needs to run it’s minimizing
Slide 28: Standard software, process libraries and delivery method
Standard software, process libraries and delivery method The core standard software offers out-of-the-box extensive generic functionality built for government. From citizen self-service to case processing, knowledge management, filing and compliance. Our solutions are based on standard software and
Slide 29: Our Business: Customer and Growth Plan
Our Business Customer and Growth Plan
Slide 30: cBrain solutions around the globe
cBrain solutions around the globe cBrain serves customers across 5 continents. F2 has proven that the model for digital bureaucracy that was developed in close collaboration with the Danish government can be applied worldwide.
Slide 31: Key take aways
Key take aways The cBrain business model is highly scalable cBrain continues to develop the F2 standard software and best practices Reusing best practices enables fast track organizational deployment
Slide 32: cBrain's SDG journey
cBrain’s SDG journey Digital Bureaucracy 2.0 Towards transparent and accountable institutions Max Weber Introducing Digital Bureaucracy 1.0
Slide 33: F2 Digital Bureaucracy Solutions
F2 Digital Bureaucracy Solutions
Slide 34: cBrain's SDG journey: Digital Bureaucracy applied
cBrain’s SDG journey Digital Bureaucracy applied Digital Bureaucracy 2.0 Towards transparent and accountable institutions Max Weber Introducing Digital Bureaucracy 1.0
Slide 35: Key take aways: F2 Climate Software
Key take aways The cBrain business model is highly scalable cBrain continues to develop the F2 standard software and best practices Reusing best practices enables fast track organizational deployment F2 Climate Software
Slide 36: Climate Governance
Climate Governance Climate governance are measures aimed at steering social systems toward preventing, mitigating or adapting to climate change. Good climate governance needs to be fast, agile and accountable. Climate software for governments is the digitization of climate governance with the purpos
Slide 37: Climate software for government
Climate software for government The fight against global warming and the destruction of nature is driven and funded by government. Many initiatives are therefore subject to bureaucratic delays and administration overhead. With smart digital solutions, government processing can be accelerated and opt
Slide 38: Increasing speed and results
CASE Increasing speed and results Taking carbon rich farmland out of production (peatland) • Danish government decision November 2020 • Grant management program in February 2021 • Covers 20% of Danish 2030 CO2 Goal (70% reduction)
Slide 39: Danish Environmental Protection Agency: F2 Climate Software
Danish Environmental Protection Agency: F2 Climate Software Model for organizing the EPA´s digital transformation, using a portfolio approach. The Environmental Protection Agency’s roll-out is exceptional due to its portfolio approach in which all 244+ business processes are prioritised according to
Slide 40: Danish Energy Agency: Heat Pump Adoption with Automated Subsidy Processing
CASE Danish Energy Agency: Heat Pump Adoption with Automated Subsidy Processing
Slide 41: Accelerating Environmental Permitting with AI
h Accelerating Environmental Permitting with Al
Slide 42: Applied Climate software for Governments
Applied Climate software for Governments
Slide 43: Key take aways: Working with partners
Key take aways The cBrain business model is highly scalable cBrain continues to develop the F2 standard software and best practices Reusing best practices enables fast track organizational deployment F2 Climate Software Working with partners, cBrain can offer fast digital transformation for governme
Slide 44: Collaborating with partners offer fast digital transformation
Collaborating with partners offer fast digital transformation for governments across the world A key element of the cBrain The F2-for-Partners Instead of building a growth plan is the F2-for- concept thereby allows large internal cBrain Partners concept. It enables cBrain to accelerate organization,
Slide 45: F2 Service Builder enables an eco-system of partners
F2 Service Builder enables an eco-system of partners • F2 Service Builder is a game changing approach to government digitizing. F2 Service Builder is a new generation software tool that allows users to configure their own government processes simply by filling out a spreadsheet. This dramatically re
Slide 46: Build F2 eco system by establishing partnerships
Build F2 eco system by establishing partnerships Build F2 eco system by establishing partnerships with: • Key customers by supporting them with methods, F2 platform and F2 Service Builder. • External consultants who are engaged with cBrain customers and thereby have domain knowledge. • Management co
Slide 47: Outlook
Outlook CBRAIN
Slide 48: Outlook
Outlook • The fourth quarter 2023 jump in subscription revenue offers a solid offset for continued software subscription revenue in 2024, and in parallel cBrain expects to win both new customers and new projects in 2024. • Based on strong growth of software revenue, driven by subscriptions as well a
Slide 49: Corporate Sustainability and Responsibility
Corporate Sustainability and Responsibility
Slide 50: Closing the Time Gap by Leveraging Standard Software
Closing the Time Gap | by Leveraging Standard Softw:
Slide 51: Implementing Green Governance
Implementing Green Governance
Slide 52: We add as much renewable energy to the grid as we consume
We make sure that we add as much renewable energy to the grid as we consume by subscribing to a solar panel in Vandel
Slide 53: Environment Action Areas and Targets
Environment Action Areas and Targets In 2022, cBrain took the first major steps towards preparing for net-zero. In 2023, cBrain has continued this mission by strengthening its internal and external environmental management efforts, achieving the landmark “Green ISO” certification and growing our cap
Slide 54: Our Net-Zero Journey
Our Net-Zero Journey Our point of departure is 2023 SCOPE1 (Direct emissions) SCOPE 2 (Indirect emissions from purchased energy) SCOPE 3 (Other indirect emissions) Whereas cBrain does not have any company cars, we now include emissions from propane gas canisters for company cooking cBrain’s Scope 2
Slide 55: ESG Report 2023
Slide 56: Environmental ESG standard data
€c0¢ 9$3 | LNIJNNOUIANS ESG STANDARD Notes 2023 2022 2021 2020 2019 UNIT €O,e Scope 1, direct emissions ° to) ) ° 0 Tons CO,¢ €O,¢ Seope 2, indirect emissions 2 25 99 65 56 95 TonsCO,e CO,e Seope 3, other indirect emissions 3 553 74 4 N/A N/A Tons CO,e Total Net Zero ambition 579 173 106 56 95 TonsC
Slide 57: Social ESG standard data
€z0z¢ 9S | 1vID0S ESG STANDARD 2023 2022 2021 2020 2019 UNIT Full-Time Employee 167 162 137 7 98 FTE Gender Diversity - Total enterprise headcount held by women 43 43 a4 40 38 % - Entry- and midlevel positions held by women 45 7 39 42 40 % - Senior- and executive-level positions held by women 30 35
Slide 58: Governance ESG standard data
€202 9S4 | JONVNYIAOD ESG STANDARD 2023 2022. 2021-2020 2019 UNIT Board Gender Diversity Total Board seats occupied by women 20 20 20 20 20 % Commitee chairs occupied by women 25 25 25 25 50 % Board Independence Does the company prohibit the CEO from serving as board chair? Yes Yes Yes Yes Yes Yes/N
Slide 59: cBrain
CBRAIN