Slide 1: Cy4Gate FY 2023 Financial Results
Cy4Gate FY 2023 Financial Results March 15, 2024
Slide 2: Agenda
AGENDA ➢ Business Update ➢ FY2023 Financials ➢ Strategy & Outlook
Slide 3: Business Update
at the end -add Gul t= 1 jects .activg tr (modifier Business Update CY GATE Part of ELT Group
Slide 4: Highlights
Highlights 360° CYBER VENDOR HUGE TARGET ADDRESSABLE MARKET Robust technology engine with proprietary Governments – Big Corporation & SME in the solutions cyberintelligence and cybersecurity markets UNIQUE POSITIONING TALENT AND PEOPLE “AT THE CORE” Unique positioning in the cyber space with Investm
Slide 5: Focus on M&A to become an European Cyber Leader Company
Focus on M&A to become an European Cyber Leader Company 2021 2022 2023 RCS is a leading Italian player operating in DIATEAM is a French company operating XTN is an Italian company operating in the IT the forensic intelligence & data analysis in the cyber security sector for security sector, with sol
Slide 6: 2022-2023 Partnership
2022-2023 Partnership November 2022 June 2023 July 2023 August 2023 Almawave DeepCyber Reco Jakala Strategic partnership aimed at Signed a strategic agreement. Cy4Gate and RECO will integrate A collaboration to develop integrating some of Almawave's DeepCyber will provide cooperate Advanced Image Re
Slide 7: 2023 Awards
2023 Awards Legality rewards companies for European Rating Group serving compliance with high standards of sustainable finance and Shortlisted at Real Deals Awards legality and proper business sustainable development, 2023. The ESG Tech category management. The certification (with issued the first E
Slide 8: Financials
pjects.active 7 (modifier Financials CY GATE Part of ELT Group
Slide 9: FY 2023 Key Data
FY 2023 Key Data Revenues¹ R&D € mln € mln YoY % YoY % 56,6 68,3 +21% +104% 7.3 3.6 FY 2022 FY 2023 FY 2022 FY 2023 EBITDA margin (%) Profit/Loss € mln € mln 8.3 30% 18% Adj. 5.8 16.8 Adj.Net Result 3 12.1 Net Result 2 2,5 Adj. Net Result 3 (2,9) Net 2 Adj. (6.0) Result FY 2022 FY 2023 (8.9) 1. Incl
Slide 10: FY 2023 Revenues Breakdown
FY 2023 Revenues Breakdown By business line By geographical area Decision Intelligence Forensic Intelligence Cyber Security Italy Export 13% 15% ~63% ~53% 40% 40% ~47% ~37% 47% 45% FY 2022 FY 2023 FY 2022 FY 2023 Business mix remains unchanged compared to International sales are slightly down compar
Slide 11: FY 2023 People Investment
FY 2023 People Investment Positive Items Negative Items Total 25 (84) 504 93 470 442 28 Total personnel increased in 2023 by a total of 34 resources: ▪ Increase of 93 engineering resources to the achievement of the plan objectives, which largely balanced the turnover ▪ Increase of 25 resources in co
Slide 12: FY 2023 NFP Bridge
FY 2023 NFP Bridge Positive Items Negative Items Total € mln (4.2) 12,4 (22.1) 12,1 3,1 (1.2) 0.7 (8.6) (7,9) NFP 2022 EBITDA Change NWC Net Capex Interests Financial Changes A&L NFP 2023 Acquisition (including Changes Diateam R&D) (55%) 12
Slide 13: FY 2023 Profit & Loss
FY 2023 Profit & Loss € mln FY 2023 1 FY 2022 Executive summary: Operating Revenues 66.5 54.1 Other Operating Revenues 1.8 2.6 ▪ Revenues +23% compared to 2022, with the full consolidation Total Revenues 68.3 56.6 of RCS group and DIATEAM. Compared like for like to 2022 Services, Procurement & total
Slide 14: FY 2023 Asset & Liabilities
FY 2023 Asset & Liabilities € mln FY 2023 FY 2022 Executive Summary: Fixed assets 87.9 70.1 Inventory 0.8 0.8 ▪ Fixed Assets increase due to the goodwill and the group Contract assets (liabilities) 3.1 (1.0) investment mainly in intangible asset. Trade receivables 53.7 64.5 ▪ Net Working Capital dec
Slide 15: FY 2023 - XTN
FY 2023 - XTN Board of Directors Main figures, € mln Revenues 4.2 3.1 FY 2022 FY 2023 EBITDA 33% 29% Margin 1.4 0.9 Alberto Nobili Paolo Pittarello Chairman Member FY 2022 FY 2023 Dario Lauricella Marco Latini Member Member NFP: Cash 3.8 Guido Ronchetti 1.9 Independent Member FY 2022 FY 2023 15
Slide 16: Strategy & Outlook
Strategy & Outlook CY GATE Part of ELT Group
Slide 17: Our growth Strategy: Market
Our growth Strategy: Market Cy4Gate Group portfolio – cyber intelligence & cyber security products - perfectly fits with the following 3 fast growing markets, both in Italy and abroad: Products involved ▪ Increasing internal and external security threats and undergoing military network-centric moder
Slide 18: Our growth Strategy: actions
Our growth Strategy: actions 2024 2025-2026 Opportunities ▪ Strengthen industrial partneships with Tier-1 Italian and ▪ Capture EU funds (NATO, EDA, ESA) for R&D in the cyber also The strategy will be a key European Defence Contractors through industrial partnership enabler to: ▪ Penetrate new geogr
Slide 19: Expected Revenues 2024
Expected Revenues 2024 PIPELINE WIN RATE CONVERSION TOTAL ~210 €M ~16% ~32-35 €M BACKLOG RECURRING TOTAL TOTAL ~21 €M ~31-34 €M ~52-55 €M 19
Slide 20: Outlook FY 2024
Outlook FY 2024 01 PIPELINE CONVERSION FY2024 32-35 €M REVENUES 02 84-90 €M BACKLOG/RECURRING FY2024 52-55 €M 20
Slide 21: Follow us
Follow us: Sede Via Coponia, 8 00131 Rome - Italy CFO & Investor Relations Manager Marco Latini investors@cy4gate.com Investor Relations Advisor CDR Communication silvia.dirosa@cdr-communication.it luca.gentili@cdr-communication.it 21