Webstep As · OSL:WSTEP
Webstep As — Q3 2022 Earnings Presentation
25 slides from Webstep As's earnings presentation, Nov 10, 2022
Slide 1: Q3 2022
Q3 2022 Save Asmervik, CEO 10 November 2022 | Oslo
Slide 2: Agenda
Agenda 1. Highlights 2. Business review 3. Financial review 4. Outlook
Slide 3: Highlights from the quarter
Highlights from the quarter
Slide 4: Highlights
Number of employees (EoP) Highlights ● Employees ○ 535 employees at the end of the quarter ○ Increase of 66 employees over the last twelve months (+14.0 %) ● Revenues Revenues (LTM) ○ 193.9 MNOK for the quarter (+16.5 %) ○ 861 MNOK for last twelve months (+15.6 %) ○ Increased revenues due to higher
Slide 5: Business review
Business review
Slide 6: Go-to-market model
Go-to-market model Experts for hire IT Expert House Client run projects Services and solutions based on leading tech platforms Team-as-a-Service (TaaS) Cloud, AI, AR/VR, Blockchain, IoT, Security Webstep run projects System development, architecture, UX and project Projects & Solutions management WE
Slide 7: Market fundamentals
Market fundamentals ● Changing macroeconomic environment Digitalization of business Cyber security and processes information security ● Increased need for team deliveries ● Webstep aligned with market trends ● Global tech vendors dominating Transformation of Increased automation business models leve
Slide 8: Investing in competence
Investing in competence ● Initium ○ Young aspiring consultants ○ Strategic move to access more talents ○ Supplement our TaaS-deliveries ● Building competence ○ In-house training ○ Seminars ● External educational events ○ Developer conferences in Q3 JavaZone and NDC ● Brand awareness ○ Speaking oppor
Slide 9: Investing in competence
Investing in competence ● Initium ○ Young aspiring consultants ○ Strategic move to access more talents ○ Supplement our TaaS-deliveries ● Building competence ○ In-house training ○ Seminars ● External educational events ○ Developer conferences in Q3 JavaZone and NDC ● Brand awareness ○ Speaking oppor
Slide 10: Making fisheries more efficient and sustainable
Making fisheries more efficient and sustainable ● PingMe™ is a smart and modern solution that solves the problem of ghost fishing ● Webstep has built a cloud based solution for storing data in real time and a client application running on the edge to collect and sync data to the cloud ● Critical informa
Slide 11: Ensuring efficient rentals
Ensuring efficient rentals ● Working with Ramirent AS since 2021, and signed new agreement with Ramirent in Sweden for 2023 ● Cloud based analytics platform with latest data warehouse technology, and data models for finance, supply chain management and sales analytics ● Assisted with IT architecture, a
Slide 12: Reducing the carbon footprint in the ocean sector
Reducing the carbon footprint in the ocean sector ● Assisting in making sure maritime companies reach their efficiency and environmental goals ● Software development related to automation of maritime electronics solutions ● Reduced climate impact and increased efficiency lowering cost for customers of S
Slide 13: Organization and employees
Organization and employees 64 Trondheim ● Strong local presence ○ Close to the Customer (0) ○ Strategic Partner 86 Bergen ● Improving the Webstep employee work experience (+14) 193 Oslo ○ Investing in our experts Uppsala 19 ○ Company gatherings (+23) ○ Facilitating collaboration and knowledge Haugal
Slide 14: Financial review
Financial review
Slide 15: Key figures - Group
Key figures - Group Q3 Q3 Y/Y YTD YTD Y/Y FY Highlights NOK million 2022 2021 change 2022 2021 change 2021 ● Employee growth YoY 14.0 % Revenues 193.9 166.5 16.5% 642.0 556.2 15.4% 775.0 EBITDA 10.7 13.2 (19.0%) 57.8 58.3 (0.9%) 81.2 ● Strong revenue growth +16.5 % EBITDA margin 5.5% 7.9% -2.4 pts 9.
Slide 16: Key figures - Norway
Key figures - Norway Highlights Q3 Q3 Y/Y YTD YTD Y/Y FY NOK million 2022 2021 change 2022 2021 change 2021 ● Employee growth YoY 13.0 % Revenues 165.7 145.5 13.9% 551.3 479.8 14.9% 668.4 EBIT 4.3 9.8 (56.5%) 37.7 44.1 (14.5%) 61.1 ● Revenue growth +13.9 % EBIT margin 2.6% 6.7% -4.2 pts 6.8% 9.2% -2.
Slide 17: Key figures - Sweden
Key figures - Sweden Highlights Q3 Q3 Y/Y YTD YTD Y/Y FY NOK million 2022 2021 change 2022 2021 change 2021 ● Employee growth YoY +19.2 % ○ Approaching 100 employees at the Revenues 28.3 21.0 34.8% 90.7 76.5 18.6% 106.7 end of the quarter EBIT 1.2 (0.3) 561.8% 5.1 3.4 53.5% 4.8 EBIT margin 4.4% -1.3%
Slide 18: Outlook
Outlook
Slide 19: Outlook
Outlook ● Long term trend of digitalisation continues in a changing macroeconomic environment ● Competing for talents ○ Headcount growth balanced against profitability ○ Continued work on retention ● Forward capacity ○ Minor expectations for growth in headcount by end of Q4 ○ Expected increased headc
Slide 20: Questions?
Questions? Please contact us at ir@webstep.com
Slide 21: Appendix
Appendix
Slide 22: A diversified customer base
A diversified customer base Private sector 71 % Public sector 29 % 22
Slide 23: Cash flow and net debt
Cash flow and net debt Highlights ● Q3 free cash flow of MNOK 0,1 ● Capex relates to office, inventory and equipment ● Credit facility of MNOK 110 in Norway and SEK 5m in Sweden per end of quarter Cash and cash equivalents* (24.9) Restricted cash 1.5 Debt to credit institutions 0.0 Net interest bearing
Slide 24: Top 20 shareholders at 4 November 2022
Top 20 shareholders at 4 November 2022 24
Slide 25: Disclaimer
Disclaimer This Presentation includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. These statements and this Presentation are based on current expectations, estimates and projections abo