Ctac Nv · EURONEXT:CTAC
Ctac Nv — Shareholder Meeting (April 2025)
35 slides from Ctac Nv's shareholder meeting presentation, Apr 15, 2025
Slide 1: Annual General Meeting of Shareholders
15 April 2025 Annual General Meeting of Shareholders
Slide 2: Report of the Board of Management on the financial year 2024
Annual General Meeting of Shareholders – 15 April 2025 Report of the Board of Management on the financial year 2024 2
Slide 3: Agenda: market, management summary, financials, strategy, outlook
realisation Market Financial Outlook developments highlights 2025 Management Strategy, summary realisation and preview 3
Slide 4: Market developments
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Slide 5: Business and IT investigation
Business and IT investigation Major findings 1 There is discourse around the collaboration between business and IT 2 Organisations often times lack a clear and concrete IT-strategy 3 Security remains a high priority 4 Hybrid Cloud is the new standard
Slide 6: Management summary
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Slide 7: Management summary 2024
Management summary 2024 Market: Financials: • Renewed branding Ctac Group • Revenue drops slightly to € 124.3 million • Strengthened partner network • Margin impact lower sales largely offset by • Uncertainty in market and prolonged decision processes reduced costs • Sales pipeline improved – increa
Slide 8: Financial highlights
Financial highlights 8
Slide 9: Financial highlights
Financial highlights Revenue slightly lower to EBITDA increased by 4.9% to Operating cash flow slightly € 124,3 million (-2.3%) € 10.7 million, profitability lower to € 10.3 million, net stable cash position stands at • Clients’ caution to make € 9.6 million investments and smaller • Absence of one-
Slide 10: Key figures
Key figures € million (unless stated otherwise) 2024 2023 Revenue 124.3 127.2 Gross margin 69.9 73.7 % margin 56.2% 57.9% Cost of organisation 64.3 69.6 EBIT *) 5.6 4.1 EBIT as % of sales 4.5% 3.2% EBITDA **) 10.7 10.2 EBITDA as % of sales 8.6% 8.0% *) including one-time expenses of € 2.5 million in
Slide 11: Revenue relatively stable
Revenue relatively stable Comments: Revenue development • Revenues drops slightly with 2.3% 140 120 2,6 2,2 3,1 • Project and secondment: 100 3,2 51,9 • +/+ inflation in rates 50,9 80 3,0 42,2 44,8 • -/- smaller size and shorter duration projects 40,1 • -/- continued reluctance companies to invest m
Slide 12: Margin impact offset by reduced costs
Margin impact offset by reduced costs Comments: Gross margin development Cost of organisation • Absolute gross margin -/- 5.2% 80 80% 80 100% 70 70% 70 90% • Margin under pressure: 60 60% 60 80% • higher license and maintenance 70% costs 50 50% 50 60% • Productivity affected due to 40 40% 40 50% 40%
Slide 13: Result affected by productivity and cost control
Result affected by productivity and cost control EBIT and EBITDA 14,0 14,0% Comments 12,0 12,0% • Productivity under pressure: • Smaller sized projects 10,0 10,0% • Configuration new ERP s/4 Hana and service management system 8,0 8,0% • Decline in revenue from hosting 6,0 6,0% 4,0 4,0% • Strict cost
Slide 14: Headcount reduction in projects and secondment
Headcount reduction in projects and secondment Comments Headcount development • Increase turnover per employee 800 30% combined effect from inflationary 700 25% effect and productivity 600 • Directs year-end 340 FTE, flexible 20% 500 workforce 200 FTE, indirects 98 FTE 400 15% • Ratio indirects/dire
Slide 15: Other key figures
Other key figures Net result in €/ revenue from Revenue per direct employee incl. professional contracts with clients temporary staff (per FTE x € 1,000) 5,00% 4,2% 240 4,0% 4,00% 3,5% 3,1% 220 3,00% 200 2,00% 0,8% 180 1,00% 227 217 213 218 226 160 0,00% 2020* 2021 2022 2023 2024 2020* 2021 2022 202
Slide 16: Earnings and dividend per share
Earnings and dividend per share Comments: 0,4 180% • Dividend policy aims at pay out 0,35 0,34 160% 30 to 40 % of the net profit 0,33 157% 0,3 0,28 140% • Dividend based on a net result of 120% € 3.9 million which is € 0,28 per 0,25 0,23 share 100% 0,2 80% • Effective pay-out as % of net 0,15 0,12 r
Slide 17: Balance sheet
Balance sheet Amounts in € x 1.000.000 2024 2023 2024 2023 Intangible fixed assets 26.8 26.9 Group Equity 30.9 28.5 Right-of-use assets 8.4 8.9 Long-term bank liabilities - - Tangible fixed assets 2.9 1.9 Long-term lease obligations 6.2 6.9 Financial fixed assets 0.1 0.5 Other long-term liabilities
Slide 18: Cash flow supported by working capital control
Cash flow supported by working capital control Comments: Net cash position Increase Decrease • Operational cash generated stable at € 10.3 million (2023: € 10.7 million) Cash flow from operations Cash flow Cash flow from from financing investments • Increase mainly driven by improved working capital
Slide 19: Strategy, realisation and preview
Strategy, realisation and preview 19
Slide 20: Market demanded a new Ctac strategy
Market demanded a new Ctac strategy Technology • Shift to the (public) cloud, hyperscalers • AI entering the market Market • SAP/Microsoft push • Standardisation (core) functionality • Cloud and AI technology Organisation • Alignment strategy organisation • Act as a Group • Organisational implicatio
Slide 21: Focus in the execution of the strategy
Focus in the execution of the strategy Expansion Accelerate growth Markets Portfolio-technology Regions Building excellence Turnover, EBIT Cloud migration factory (Market) Focus Public cloud solutions Improvement ratios EBIT, Leading in extensibility productivity Partner of choice Optimisation Ctac
Slide 22: Focus in the execution of the strategy
Focus in the execution of the strategy Expansion Accelerate growth Building excellence (Market) Focus Public cloud solution Ctac Group cross & upsell Process Systems Entrepreneurship Training & education Ctac acting as a Group Revenue acceleration Revenue growth Limited revenue growth 22
Slide 23: Driving operational excellence through FUN-dament programme
Driving operational excellence through FUN-dament programme S/4 public cloud Sales organisation Central resource implementation optimisation planning Contract management Service management One Way of Working CRM evaluation (system) implementation projects 23
Slide 24: Proposition update
Proposition update STRATEGY & TRANSFORMATION TECHNOLOGY CORE & PEOPLE NEXT INSIGHTS INTEGRATION DIGITAL CHANGE MANAGEMENT DEVELOPMENT IT COORDINATION PRODUCTS EXPERIENCE STAFFING ERP (SAP CLOUD) DATA SERVICES CLOUD INFRASTRUCTURE SECURITY MODERN WORK 24
Slide 25: ESG Sustainability on track
ESG Sustainability on track Five material themes have been selected (during 2024 further Ctac executed the sharpened): double materiality and stakeholders analysis in • Talent development 2023 • Privacy- and data security • Impact materiality • Sustainability (inside-out transition KPI’s defined for
Slide 26: Outlook 2025
Outlook 2025 26
Slide 27: Outlook 2025
Outlook 2025 Internal External Developments • Further strengthen our foundation and • Some customers might consider propositions postponing investments due to shifts • Ongoing efforts to improve operational in demand and trade flows efficiency and accelerate growth • Sentiment around cloud and IT •
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Slide 29: Annual General Meeting of Shareholders: audit presentation by PwC
15 April 2025 Annual General Meeting of Shareholders Presentation on audit by PricewaterhouseCoopers Accountants N.V.
Slide 30: Audit 2024 Presentation to the shareholders of Ctac N.V.
Ctac N.V. – Audit 2024 – Presentation to shareholders 0I Disclaimer Introduction Audit 2024 Our audit and conclusions Presentation to the shareholders Q&A of Ctac N.V. PricewaterhouseCoopers Accountants N.V. 15 April 2025
Slide 31: Important notice to the reader
Ctac N.V. – Audit 2024 – Presentation to shareholders 1 Disclaimer Introduction Our audit and conclusions Important notice to the reader Q&A This document covers the topics covered during our presentation on the 2024 audit of Ctac N.V. to the shareholders in the AGM on 15 April 2025. This document m
Slide 32: Introduction, audit coverage and materiality
Ctac N.V. – Audit 2024 – Presentation to shareholders 2 Disclaimer Introduction Introduction • We have audited the consolidated and company-only financial statements of Ctac N.V for the year ended 31 December 2024. Our audit and conclusions • The financial reporting framework applied in the preparat
Slide 33: The 2024 Audit of Ctac N.V.
Ctac N.V. – Audit 2024 – Presentation to shareholders 3 Disclaimer Significant audit risks Internal control observations Introduction • Management override of controls and fraud in revenue • In its board of directors' report, management included a recognition are presumed risks we covered in our aud
Slide 34: Q&A
Ctac N.V. – Audit 2024 – Presentation to shareholders 4 Disclaimer Introduction Our audit and conclusions Q&A Q&A
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