Inin Group As · OSL:ININ

Inin Group As — Elop AS — Q3 2021 Earnings Presentation

36 slides from Inin Group As's earnings presentation, Dec 2, 2021

  1. Slide 1: Q3 2021 results

    Q3 2021 results 2 December 2021

  2. Slide 2: Cautionary note

    Cautionary note This presentation includes forward-looking information and statements that are subject to risks and uncertainties. Actual results may differ significantly from those communicated herein. Such forward-looking information pertain to, amongst other things; (a) forecasts, projections and

  3. Slide 3: Presenting team

    Presenting team Øivind Horpestad Bård Myrstad Kim Boman CEO and Chair of The Board Chief Operating Officer Chief Financial Officer 3

  4. Slide 4: Q3 2021 Highlights and subsequent events

    Q3 2021 Highlights and subsequent events Q3 HIGHLIGHTS SUBSEQUENT EVENTS • Simplifai contracted monthly recurring revenue (MRR) • Private placement raising gross proceeds of NOK up 208% YoY 100 million • First sales contracts signed for Elop Insight scanner • Elop Technology delivers first Insights

  5. Slide 5: Technology

    elop elop Technology

  6. Slide 6: Elop Insight on market – development tracks progressing according to plan

    Elop Insight on market – development tracks progressing according to plan On market Q1 22 Under development (2023) Elop Insight Elop Insight Crawler Multrawheel Asset Management System1 Product • Hand-held rolling ultrasound scanner • Rolling ultrasonic scanner combined • Rolling ultrasound scanner

  7. Slide 7: Elop Technology to go-to market in a 3-way collab. with inspection companies and asset owners

    Elop Technology to go-to market in a 3-way collab. with inspection companies and asset owners Cash flow Equipment AMS software Data/insight Services, recommendations, insights Inspection/eng. firms Asset owner specialist contractor Customer Customer 1: E.g. Testing, Inspection & Certification (TIC)

  8. Slide 8: Direct sales focused on Europe – full-service partners in the rest of the world

    Direct sales focused on Europe – full-service partners in the rest of the world • Focus on direct sales in Norway, Sweden, Denmark and DACH1) – as it is important to build good reference cases and we know the market • We accept pure sales partners in Europe, as services can be handled through Dekra

  9. Slide 9: Signed full-service partner deals in the US and Japan – further in discussion

    Signed full-service partner deals in the US and Japan – further in discussion Contract Status Content highlights • Full-service partner LOI signed • Distribution rights of Elop Technology’s products in the Japanese market • First line support, maintenance and logistics for all Agreement signed Elop

  10. Slide 10: Status - Commercialization of Elop

    Status - Commercialization of Elop ✓ Building up own sales organization with inhouse sales experts for strategic markets ✓ Established legal entity in Germany ✓ Started marketing and communication initiatives Elop Insight (YTD)* (#) Units ordered 13 ✓ Opened discussions with multiple potential clien

  11. Slide 11: Concrete inspections moving towards increasing regulation and certification requirements

    Concrete inspections moving towards increasing regulation and certification requirements • Italy on forefront - ultrasonic testing likely to become part of standard • "Prassi di riferimento" - a provisional guideline, likely to be converted into norm sometime soon • Describes the procedure for the c

  12. Slide 12: Currently no requirements on testing concrete before project handover

    Currently no requirements on testing concrete before project handover There has not been any practical way of testing the concrete in newly constructed tunnels, before Elop Insight Elop Insight can detect voids behind the prefabricated concrete liner. These voids tend to fill up with water if not ad

  13. Slide 13: Field tests across Europe and asset classes – aim to complete 50 field tests

    Field tests across Europe and asset classes – aim to complete 50 field tests before end of Q1 ‘22 Selected completed field tests Demo project with inspection partner on the Abisko bridge in Sweden for large asset owner Demo project in Norway with major infrastructure entrepreneur Field test in railw

  14. Slide 14: Elop moving in the right direction

    Elop moving in the right direction Introducing new technology to create a new Recognition high growth market • Exponential sales growth Success stories • International NEW ENTRIES expansion ONGOING • First sales • Global distribution COMPLETED Credibility • New industries • New geographical TO BE RE

  15. Slide 15: Slide 15

  16. Slide 16: Contracted MRR of NOK 1,0m as of end Q3 2021, up 208% from Q3 2020

    Contracted MRR1 of NOK 1,0m as of end Q3 2021, up 208% from Q3 2020 MRR Development (NOK Thousand) +208% (+675) 1 000 • Several strategic wins in Q3; Large BFSI players in both Central Europe and India in 800 addition to public sector in Norway • Positive effect of solving the GDPR issues 600 caused

  17. Slide 17: Simplifai's GTM strategy combines focused direct sales with partnership sales

    Simplifai’s GTM strategy combines focused direct sales with partnership sales + Control + Flexibility - Cost and speed of scaling Nordics Direct sales Benelux India Telecom Logistics Public BFSI Partnership sales Global + Large scalability potential + Large reach + Moderate fixed cost - Needs refere

  18. Slide 18: Selected customers

    Selected customers BFSI clients1 Public sector Other industries 1) Banking, Financial Services and Insurance

  19. Slide 19: Simplifai signs Milestone deal in the Dutch insurance market

    Simplifai signs Milestone deal in the Dutch insurance market Simplifai will provide its AI-powered Digital • European market leader in claims management, Employee technology to help automate loss adjusting and IT development for the the intake and handling of claims to reduce insurance and risk mana

  20. Slide 20: Partners

    Partners knowit + nevigate Crayon g avans soma PINNACLE me Microsoft Ui/Path

  21. Slide 21: Simplifai's solutions - new innovative products

    Simplifai’s solutions - new innovative products On market Under development Basic case handling – Digital Employees: Complex case handling e.g.: Emailbot Documentbot Digital Lawyer Digital Archivist Product • AI powered tool for automatically • Ai powered tool for processing • Analyzing a new case a

  22. Slide 22: Key stepping stones for Simplifai

    Key stepping stones for Simplifai Capturing a high growth market Recognition • Exponential sales growth • Widespread international NEW ENTRIES Success stories expansion ONGOING • Global distribution • Claims Link and OSM COMPLETED Maritime success stories • Recognized as leading Credibility vendor w

  23. Slide 23: Q3 2021 interim financial results

    Q3 2021 interim financial results

  24. Slide 24: Elop Group income statement

    Elop Group income statement Amounts in NOK thousand Q3 2021 Q3 2020 YTD 2021 YTD 2020 FY 2020 • Simplifai revenues are Revenue 4,128 - 8,374 - - Other operating revenue - - - - - consolidated from Jan 18 2021 Total revenue 4,128 - 8,374 - - Cost of sales (442) 8 1,516 18 145 • Capitalized cost relat

  25. Slide 25: Liquidity Elop Group

    Liquidity Elop Group NOK million +11 • Grants of NOK 2m Skattefunn and 68 NOK 4m from Innovasjon Norway 68 66 5 • Loan offer from Innovasjon 64 Norway of NOK 5m 62 • Subsequent event: Private 60 6 placement raising gross proceeds of NOK 100 million 58 57 56 54 4 2 0 1) 1) Cash balance Grants Loan of

  26. Slide 26: Summary & Outlook

    Summary & Outlook

  27. Slide 27: Gradual shift towards contracted recurring software revenue

    Gradual shift towards contracted recurring software revenue Elop revenue expected to pick up with software and scanner roll-out Revenue, MNOK 2025 TARGETS 1 000+ >1 000M NOK Revenue Simplifai >40% EBIT margin Elop Technology >75% ARR 2020 2021 2022 2023 2024 2025 Note: Simplifai is not reflected in

  28. Slide 28: Summary Outlook

    SUMMARY OUTLOOK • Simplifai contracted MMR up 208% YoY • Simplifai’ growth expected to continue - targets 3-5 x MRR at year end 2021 vs year end 2020 • First sales contracts signed for Elop Insight scanner and “Insight Crawler” • Interest in Elop Technology expected to continue to grow as technology

  29. Slide 29: Appendix

    “Appendix ~

  30. Slide 30: General

    General General Alternative Performance Measures Elop AS (the Company) was founded in 2013 and is a The European Securities and Markets Authority (ESMA) issued guidelines on Alternative Performance limited liability company who is incorporated and domiciled in Norway, with its head office in Measure

  31. Slide 31: Elop AS Group consolidated balance sheet

    Elop AS Group consolidated balance sheet Amounts in NOK thousand Q3 2021 Q3 2020 FY 2020 Amounts in NOK thousand Q3 2021 Q3 2020 FY 2020 ASSETS EQUITY AND LIABILITIES Non-current assets Equity Goodwi l l 120,135 - - Sha re ca pi tal 4,650 3,515 3,515 Intangi bl e a s s ets 91,049 22,949 28,690 Sha r

  32. Slide 32: Cashflow statement

    Cashflow statement Amounts in NOK thousand Q3 2021 Q3 2020 YTD 2021 YTD 2020 FY 2020 Cashflows from operating activities Profit/(loss) before income tax (18,470) (4,805) (57,811) (18,323) (31,217) Adjustments for Depreciation and amortization 2,413 - 7,843 - 420 Change in trade and other receivables

  33. Slide 33: Segment financial summary

    Segment financial summary Segments YTD - 2021 Elop Unallocated/ Amounts in NOK thousand Simplifai Total Group Technology eliminated Revenue 33 8,341 8,374 Internal revenue 96 18,816 -18,912 -0 Total revenue 129 27,157 -18,912 8,373 Total operating expenses 18,928 36,698 1,974 57,600 Operating profit

  34. Slide 34: 20 largest shareholders

    20 largest shareholders # Name No of shares % Ownership 1 Melandsø Invest As 12,771,081 10.8 • At 30th of September; 600,000 outstanding 2 Gimle Invest As 8,747,665 7.4 warrants and 6,200,000 outstanding options. 3 Sogn Invest As 6,436,025 5.5 • Average strike price of NOK 6.40. 4 The Bank Of New Yo

  35. Slide 35: Elop Technology's solutions will contribute to securing critical infrastructure

    Elop Technology’s solutions will contribute to securing critical infrastructure Several global bridge and building collapses exemplifies the need for improved inspection, surveys and maintenance of critical infrastructure. Elop Technology and its solutions provide information and insight into the co

  36. Slide 36: Elop Technology will contribute to the reduction of CO2 generated by the concrete production industry

    Elop Technology will contribute to the reduction of CO2 generated by the concrete production industry Extending life of existing concrete structures through optimized maintenance and inspection, will have a significant benefit to the environment - reducing the CO2 emissions from the concrete product

Elop AS — Q3 2021 Earnings Presentation on 6ix