Logo Yazilim Sanayi Ve Ticaret A.s. · BIST:LOGO

Logo Yazilim Sanayi Ve Ticaret A.s — Q1 2022 Earnings Presentation

21 slides from Logo Yazilim Sanayi Ve Ticaret A.s's earnings presentation, May 12, 2022

  1. Slide 1: Chief Financial Officer, May 12th, 2022

    Chief Financial Officer May 12th, 2022

  2. Slide 2: Forward-looking statements 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 reflected in th

  3. Slide 3: Revenues, EBITDA and Net Income Q1 2022

    Revenues (TL mn) EBITDA (TL mn) Net Income (TL mn) 93% 106% 69% 269 42% 34% 114 39% 93 40% 139 55 55 Q121 Q122 Q121 Q122 Q121 Q122 • Strong start to year 2022, with solid revenue growth and improved operational profitability despite macro uncertainties • Recurring revenues were 61% of invoiced sales

  4. Slide 4: Cash and Financial Investments, FCF, EPS growth

    Cash and Financial Investments (TL mn) Strong FCF – LTM (TL mn) 12% 623 116% 555 176 309 295 314 81 259 2021 Q122 Q121 Q122 Cash and Cash Eq. Financial Investments (ST&LT) EPS* growth 104% 3,1 1,5 Q121 Q122 *Adjusted by 3.61% treasury shares (Q121: 3.48%)

  5. Slide 5: Logo Turkey Revenues, EBITDA, Net Income

    Logo Turkey-Revenues (TL mn) Logo Turkey-EBITDA (TL mn) Logo Turkey-Net Income (TL mn) 91% 108% 95% 54% 50% 174 93 87 49% 49% 91 45 44 Q121 Q122 Q121 Q122 Q121 Q122 • Revenues grew by 91% with increased spending from existing customers and healthy new customer acquisitions • EBITDA grew by 108% with

  6. Slide 6: Market leader in e-government solutions with 107K customers

    Market leader in e-government solutions; e-invoice, e-archive, e-ledger, e-dispatch with 107K customers # of customers ('000) eLogo invoiced revenues (TL mn) CAGR: 56% CAGR: 47% 71% 24 107 95 24 56 62 194 43% 37 32 134 18 18 4 10 10 14 10 70 11 38 31 41 21 28 2016 2017 2018 2019 2020 2021 Q121 Q122

  7. Slide 7: MicroSME SaaS İşbaşı user growth

    Offering basic accounting software and e-invoicing services # of users (‘000) 43 44 40 37 29 33 User growth: 27 18 20 21 24 202% y/y 13 15 16 10 12 1 1 2 2 2 2 3 3 4 6 7 8 ARPU*: 334 TL LTV/CAC**: 26 Aug.'20 Aug.'21 Dec.'19 Apr.'20 Dec.'20 Dec.'21 Jun.'20 Sept.'20 Oct.'20 Apr.'21 Jun.'21 Sept.'21 Oc

  8. Slide 8: Total Soft Revenues, Gross profit, EBITDA, Net Income

    Total Soft–Revenues (TL mn) Total Soft–Gross profit (TL mn) Total Soft–EBITDA (TL mn) 97% 80% 97% 95 44% 21% 48% 42 20 21% 48 23 10 Q121 Q122 Q121 Q122 Q121 Q122 Total Soft-Net Income (TL mn) • Revenues grew by 97% y/y and revenue growth in Euros was 12% -41% y/y • Gross profit is up by 80% yielding

  9. Slide 9: First Quarter Invoices & IFRS Revenues

    First Quarter Invoices & IFRS Revenues (TL mn) IFRS Revenues= 269 Invoices - Net Deferrals 259 Invoices • Q1 sales invoice growth was 80% y/y 139144 • IFRS Revenue growth was 93%y/y in Q1 102108 81 76 67 66 54 53 36 30 Q116 Q117 Q118 Q119 Q120 Q121 Q122 Invoiced Revenues (TL mn) CAGR: 37% 849 • In T

  10. Slide 10: Consolidated Recurring Invoices

    Consolidated Recurring Invoices (TL mn) • LEM revenues increased by 72% y/y CAGR: 44% 527 • Pay as you go revenues grew by 37% y/y 384 • Maintenance revenues increased by 89% y/y 257 69% • Retail SaaS revenues grew by 80% y/y 181 159 135 • SaaS revenues increased by 155% y/y, 73 84 94 • Retail SaaS

  11. Slide 11: Cost of Sales as % of IFRS Revenue

    Consolidated (TL mn) – As % of IFRS Revenue Total Soft (TL mn) – As % of IFRS Revenue 20% 23% 52% 56% 269 95 139 48 53 28 120% 61 25 113% Q121 Q122 Q121 Q122 Revenue Cost of Sales Revenue Cost of Sales

  12. Slide 12: OpEx, R&D, S&M and G&A as % of Revenue

    OpEx (TL mn) – As % of IFRS Revenue R&D Expenses (TL mn) – As % of IFRS Revenue 53% 45% 25% 20% 269 269 139 121 139 74 63% 55 35 58% Q121 Q122 Q121 Q122 Total Revenue Total Opex Total Revenue R&D Expense S&M (TL mn) – As % of IFRS Revenue G&A (TL mn) – As % of IFRS Revenue 14% 13% 15% 12% 269 269 13

  13. Slide 13: R&D Spending as % of Invoices

    R&D Spending (TL mn) – As % of Invoices 400 40% 33% 34% 31% 30% 30% 300 27% 27% 30% 24% 200 232 20% 100 146 10% 123 99 87 77 57 45 0 0% 2016 2017 2018 2019 2020 2021 Q121 Q122 R&D Spending (TLmn) - LHS R&D Spending/Invoices -RHS

  14. Slide 14: Balance Sheet Highlights and Working Capital

    Balance Sheet Highlights (TL mn) Working Capital (TL mn) 2021 Q122 ∆ Cash & Cash Eq. 259,4 313,8 21% 50% 44% 400 Trade Receivables 332,8 189,3 -43% Tangible Assets 21,0 22,3 6% 40% 34% 36% 33% 31% 300 Intangible Assets* 759,2 836,5 10% 28% 30% 24% Other Assets 435,1 474,8 9% 260 200 Total Assets 1.8

  15. Slide 15: 2022 guidance

    2021 2022 guidance Invoiced Revenue (TL mn) +67% 445 1.422 236 849 941 35 594 19 IFRS Revenue (TL mn) +74% 445 31 1.333 262 15 767 860 490 EBITDA** (TL mn) +59% 138 -34 339 456 96 -14 286 198 Margins 40% 37% n.m. 37% 39% 31% n.m. 34% EBT (TL mn) +39% 72 -16 300 376 65 -38 417 238 Margins 48% 28% n.m

  16. Slide 16: Questions & Answers

    Questions»& Answers

  17. Slide 17: Appendix

    Appendix

  18. Slide 18: ESG in numbers

    ESG in numbers + + + 1,315 43% 50% 35 Employees Women Women in Average age employees executive of employees management + + 27% 50% 9.28/10 100% R&D spending/ of Board is Corporate of e-waste invoiced independent Governance recycled in TR revenues Rating *Employee data is 2021 year-end figures includ

  19. Slide 19: New communique's details (January 22nd, 2022)

    New communique’s details (January 22nd, 2022) BEFORE AFTER (eff. as of July 1st, 2022) Companies w/sales 5mio₺+, Companies w/sales 4mio₺+, e-invoice Specific sectors with no sales Companies in some sectors w/sales 1mio ₺+, threshold Specific sectors with no sales threshold e-archive All e-invoice is

  20. Slide 20: Invoiced revenues breakdown

    2016* 2017 2018 2019 2020 2021 4-yr-CAGR Invoiced revenues (TL mn) 175,8 259,1 333,0 460,1 617,7 848,6 35% One-time - TR 70,3 83,4 95,0 130,1 145,6 207,2 26% share in total 40% 32% 29% 28% 24% 24% One-time - RO 21,3 40,2 57,5 72,9 87,9 114,2 30% share in total 12% 16% 17% 16% 14% 13% Recurring - TR

  21. Slide 21: Thank you for joining us today

    _ Thank you forjoining us today Logo Investor Relations Team T: +90 262 679 8000 E: investor@logo.com.tr

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