Ard Grup Bilisim Teknolojileri As · BIST:ARDYZ

Ard Grup Bilisim Teknolojileri As — Q4 2021 Earnings Presentation

28 slides from Ard Grup Bilisim Teknolojileri As's earnings presentation, Apr 6, 2022

  1. Slide 1: Investor Presentation 4Q 2021 Figures

    1 INVESTOR PRESENTATION 4Q 2021 FIGURES 06.04.2022

  2. Slide 2: 4Q 2021 Headlines

    4Q 2021 HEADLINES 2  Capital Raise: Capital raise using internal resources by 612,04%.  Financials: Growth and Strong Cash Position Continued  M&A: Açılımsoft company was purchased for 12 mn TL

  3. Slide 3: Executive Summary

    EXECUTIVE SUMMARY 3 DEBT LEVEL MARGINS Quarterly gross margin, which was 83% in 4Q20, decreased to 67% Despite high sales growth, steady decline in working capital in 4Q21, driven by turnkey projects and commodity cost increase. to sales since 2019 points out efficiency. Considering the new added va

  4. Slide 4: Solid Performance

    4 SOLID PERFORMANCE 2021/12 & 2020/12 PERIODICAL 4Q21 & 4Q20 QUARTERLY 130,0% REVENUE 127,7% 122,2% 60,5% GROWTH 178,4% EBITDA * 117,3% 203,6% 53,1% GROWTH 214,4% 130,3% NET INCOME 239,6% 48,0% GROWTH 58,1% 60,3% EBITDA* 57,4% 61,3% MARGIN *Other Income / Expense from Operating Activities are includ

  5. Slide 5: 4Q 2021 Results: Number and Size of Contracts Increasing

    5 4Q 2021 RESULTS Number and Size of Contracts Increasing QUARTERLY FIGURES 120 Net Sales (mTL)  Net sales raised by 60.5% on a quarterly basis compared to the same period of the previous year and amounted to 102.5 m 100 TL. 102,5  Compared to the previous quarter, net sales increased by 80 41.4%

  6. Slide 6: Rising Sales of Commercial Goods Caused a Decline in Margins

    6 4Q 2021 RESULTS Rising Sales of Commercial Goods Caused a Decline in Margins QUARTERLY FIGURES EBITDA (mTL) Net Income (mTL) 70 60 %53,0 %57,4 60 50 54,3 58,8 %57,4 50 %60,2 40 40 36,7 38,4 30 30 20 20 10 10 0 0 4Q2020 4Q2021 4Q2020 4Q2021  EBITDA improved by 53.1% QoQ to 58.8 mTL, while the  Ne

  7. Slide 7: Net Sales Maintained Strong Growth Trend in 2021

    7 4Q 2021 RESULTS Net Sales Maintained Strong Growth Trend in 2021 PERIODICAL FIGURES 300 Net Sales (mTL)  Periodic net sales increased by 122.2% in 2021/12 compared to the same period of the previous year and amounted to 278.2 mTL. 250 278,2  Value added projects were effective in the strong enha

  8. Slide 8: Cash Position and Low Taxes Supported Profitability

    8 4Q 2021 RESULTS Cash Position and Low Taxes Supported Profitability PERIODICAL FIGURES EBITDA (mTL) Net Income (mTL) %54,4 180 %58,1 160 160 161,7 140 151,3 140 120 120 100 100 %59,4 80 %52,5 80 60 74,4 60 65,7 40 40 20 20 0 0 2020 2021 2020 2021  EBITDA augmented by 117.3% and reached 161.7 mTL

  9. Slide 9: Turnkey Projects Increased Cost of Commercial Goods Sales in Q4

    9 4Q 2021 RESULTS Turnkey Projects Increased Cost of Commercial Goods Sales in Q4  Sales growth, supported by the rise in the number and volume of contracts, was recorded as the main parameter in the EBITDA increase.  The rise in the cost of commercial goods due to turnkey projects in the fourth q

  10. Slide 10: Cash Position Supported Net Profit for the Period

    10 4Q 2021 RESULTS Cash Position Supported Net Profit for the Period  The strong increase in net profit continued thanks to the factors supporting the EBITDA growth.  The cash position generated financing income and supported the jump in net profit for the period.  Keeping a part of the cash posi

  11. Slide 11: 278.2 mTL of Annualized Revenue in 2021/12

    11 4Q 2021 RESULTS 278.2 mTL of Annualized Revenue in 2021/12 ANNUAL NET SALES DEVELOPMENT (mTL) 122,2% 278,2 76% CAGR* 120,8% 125,2 2018– 2021 56,7 10,3% 51,4 2018 2019 2020 2021/12 *CAGR : Compounded Annual Growth Rate Total Sales TL M

  12. Slide 12: 161.7 mTL of Annualized EBITDA in 2021

    12 4Q 2021 RESULTS 161.7 mTL of Annualized EBITDA in 2021 ANNUAL EBITDA DEVELOPMENT (mTL) 81% CAGR* 117,3% 161,7 2018– 2021 129,2% 74,5 19,9% 32,5 27,1 2018 2019 2020 2021/12 *CAGR: Compounded Annual Growth Rate EBITDA TL M

  13. Slide 13: Improvement in Working Capital Continued Despite Rising Revenue

    13 4Q 2021 RESULTS Improvement in Working Capital Continued Despite Rising Revenue Working Capital 140 Working Capital 85% 120 7 Working Capital Analysis 75% 100 TLm 2017 2018 2019 2020 2021 80 66,2% 65% Trade Receivables 8,8 25,0 40,9 62,6 116,1 60 4 Inventory + Other Current Assets 13,0 0,8 0,4 4,

  14. Slide 14: Converging 2018 Level in Working Capital to Sales Continues

    14 4Q 2021 RESULTS Converging 2018 Level in Working Capital to Sales Continues  With the effect of net sales growth, the increase in trade receivables and inventories created the need for working capital, while normalization in trade payables continued.  Working capital, which was 56.4 mTL at the

  15. Slide 15: Low Financial Indebtedness Creates Significant Borrowing Capacity

    15 4Q 2021 RESULTS Low Financial Indebtedness Creates Significant Borrowing Capacity Net Cash Position Net Cash/EBITDA Net Cash & Equity & Financial Leverage 20 0,5 10 7,8 TLm 2018 2019 2020 2021 3,4 Cash and Cash Equivalents 0,1 1,7 27,3 64,0 0,2 - Other Receivables 4,4 - - 0,0 0,1 Net Borç/FAVÖK S

  16. Slide 16: Foreign Exchange Position

    16 4Q 2021 RESULTS Foreign Exchange Position Credit Maturity Breakdown %46 0-3 Month %21 1-5 Year %33 3-12 Month  As of 2021/12 the Company has foreign currency surplus of 46,9 mTL. As of the end of the period, all loans are in TL denominated and the effective interest rate fluctuates in the band o

  17. Slide 17: Increased Cost of Commercial Goods Drives Profitability Down

    17 4Q 2021 RESULTS Increased Cost of Commercial Goods Due to Turnkey Projects Drives Profitability Down Investments (mTL) Seasonality 90 80 1,3 %51,3 70 120 120% 60 5,2 83% 96% 100 100% 50 %28,4 75% 81% 77% %41,5 80 72% 67% 80% 40 77,9 87% mTL 74% 51% %21,9 60 40% 67% 60% 30 %34,7 59,0 2,7 40 51% 40

  18. Slide 18: 46.6% ROE Well Above Interest Yield

    18 4Q 2021 RESULTS 46.6% ROE Well Above Interest Yield  The liquidity level of the balance sheet continued ROE 390 to increase with each period. 340  The return on equity is above the bond yield, 2021; 46,6%; 325 indicating that the capital is being used efficiently. Equity (TLm) 290 240  Low ind

  19. Slide 19: Financial Ratios

    19 4Q 2021 RESULTS Financial Ratios Liquidity Ratios 2021/12 2020/12 2019/12 Reference Current Ratio 5,53 6,17 3,86 1,0-1,5 Liquidity Ratios 5,40 5,94 3,83 0,8-1,0 Investment Ratios (12M Trailing) 2021/12 2020/12 2019/12 Reference Investment/Depreciaiton 652,8% 850,3% 282,8% >%100 Investment/Net Sal

  20. Slide 20: Financial Ratios

    20 4Q 2021 RESULTS Financial Ratios Debt Ratios 2021/12 2020/12 2019/12 Reference Total Debt/Total Assets 10,1% 10,6% 16,0% <%40 Short Term Fin. Debt/Equity 1,7% 2,7% 10,3% <100% Coverage Ratio -79,8 78,2 18,4 >3 Net Debt/EBITDA -0,3 -0,2 0,2 <4 Short Term Liabilities/Asset 9,4% 7,9% 12,9% Sektör Lo

  21. Slide 21: Financial Ratios

    21 4Q 2021 RESULTS Financial Ratios Profitability Ratios (12MTrailing) 2021/12 2020/12 2019/12 Reference Gross Margin 77,5% 70,3% 59,2% Sektör EBIT Margin 53,8% 53,5% 49,5% Sektör EBITDA Margin 58,1% 59,5% 57,2% Sektör Net Income Margin 54,4% 52,5% 46,5% Sektör ROE 46,6% 37,8% 36,4% >Tahvil Getirisi

  22. Slide 22: Share Performance and Market Capitalisation

    22 4Q 2021 RESULTS 10 Share Performance (TL) Market Capitalisation (TL) 1.600.000.000 9 7,33 1.400.000.000 8 7 1.200.000.000 6 1.000.000.000 5 800.000.000 4 600.000.000 3 %790 400.000.000 2 Performance Since IPO 1 200.000.000 0 0  Return of 790% from the date of the public offering until the end of

  23. Slide 23: Investment Thesis

    23 4Q 2021 RESULTS Investment Thesis Rising software expenditure all over the world with the pandemic makes the sector strategic; R&D and Technocity incentives and low tax rate; Being one of the fastest growing technology companies in Turkey by the Deolitte Technology Fast 50 Turkey since 2016; Low

  24. Slide 24: Appendix

    24 APPENDIX

  25. Slide 25: Balance Sheet and Income Statement

    2020112 2021112 Balance Sheet (TL } ome ON 2020/12 202112 2021-2020 Audited Audited Assets 194.182.794 361.277.5253 Net Sales 125.197.824 278.196.511 122,2% Cash & Cash Equivalent 27.282.062 64,022,150 Change 122,2% Trade Receivables 62.550.745 116.087.883, aoe GHA mane) ix Other Current Assets 853.

  26. Slide 26: Milestones of ARD Group

    26 MILESTONES OF ARD GROUP Establishment of Getting Facility The company title Transition to Public offering of Capital raise from ARD Security Certificate changed to the Registered ARD INFORMATICS 23.875.000 to INFORMATICS in NATO / NATIONAL ARD INFORMATICS Capital System on February 6, 2020 170.00

  27. Slide 27: Disclaimer

    27 DISCLAIMER This presentation contains information relating to ARD GROUP INFORMATION TECHNOLOGIES INC. (“ ARD INFORMATICS ”) that may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for any other purpose. By accessing this document you agre

  28. Slide 28: Investor Relations Contacts

    28 INVESTOR RELATIONS CONTACTS Semih Kökden Eda Dirican Investor Relation Manager Investor Relations Specialist T: 0 312 299 25 95 T: 0 312 299 25 95 investor.relations@ardgroup.com.tr investor.relations@ardgroup.com.tr THANK YOU For detailed information, please contact us by e-mail investor.relatio

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