Slide 1: Spyrosoft Group Financial results for FY 2023
Spyrosoft Group Financial results for FY 2023 26 April 2024 Spyrosoft Group © 2024 www.spyro-soft.com
Slide 2: Agenda
Agenda 1 Summary of key events 2 Financial results for FY 2023 3 Prospects Financial results for FY 2023 www.spyro-soft.com
Slide 3: 1. Summary of key events
1. Summary of key events Financial results for FY 2023 www.spyro-soft.com
Slide 4: FY 2023: growth despite a tough market
FY 2023: growth despite a tough market Revenue growth, +25.5% y/y Diversified revenue: 84% of our revenue derived from —in line with the strategic target The UK and DACH remain the contracts with foreign clients. (on average 25-35% annually), leading markets, followed by despite a challenging period
Slide 5: Employment at a stable level
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Slide 6: Our offices
Our offices Argentina Poland • Buenos Aires • Wrocław • Kraków Croatia • Warsaw • Białystok • Zagreb • Szczecin • Osijek • Łódź Germany Romania • Stuttgart • Timişoara • Braunschweig UK India • Bournemouth • Hyderabad • London • Manchester Norway • Newcastle • Bergen • Edinburgh USA • Ann Arbor • Pi
Slide 7: Business sectors
Business sectors Automotive Employee Experience & Education Financial Services Geospatial Services Healthcare & Life Sciences Industry 4.0 Robotics
Slide 8: Peer group comparison
Peer group comparison RESULTS 4Q 2023 FORECASTS 1Q 2024 FORECASTS 2024 OPERATING EMPLOYMENT REVENUE GROWTH OPERATING PROFIT EPS GROWTH Y/Y, REVENUE GROWTH EPS GROWTH REVENUE EPS GROWTH COMPANY PROFIT GROWTH GROWTH Q/Q, % Y/Y, % GROWTH Y/Y, % % Y/Y, % Y/Y, % GROWTH Y/Y, % Y/Y, % Y/Y,% EPAM Systems -3
Slide 9: 2. Financial results for FY 2023
2. Financial results for FY 2023 Financial results for FY 2023 www.spyro-soft.com
Slide 10: Revenue FY 2023 (PLNm)
Revenue FY 2023 (PLNm) • Spyrosoft Group generated consolidated revenue in FY 2023 Revenue Revenue 2022 vs. 2023 4Q 2022 vs. 4Q 2023 of PLN 416.1m (+25.5% y/y). • Further growth in the scale of operations remains a priority 500 500 for the company (even though the pace of this process is 15.7 slower
Slide 11: Revenue 2022–2026 (PLNm)
Revenue 2022–2026 (PLNm) 800 Revenue CAGR 700 600 500 400 300 200 100 0 2020 2021 2022 2023 2024P 2025P 2026P Revenue Revenue 25% CAGR Revenue 35% CAGR Financial results for FY 2023 www.spyro-soft.com
Slide 12: EBITDA FY 2023 (PLNm)
EBITDA FY 2023 (PLNm) • The EBITDA result for FY 2023 was PLN 42.0m, a decline of 21.8% y/y. EBITDA EBITDA 2022 vs. 2023 4Q 2022 vs. 4Q 2023 The EBITDA margin was 10.1%, as compared to 16.2% in FY 2022. • The EBITDA margin fell slightly below the target in the “Strategy for 60 60 2022–2026,” which c
Slide 13: Net profit FY 2023 (PLNm)
Net profit FY 2023 (PLNm) • The group earned a net profit in FY 2023 of PLN 19.7m, 26.2% less than in FY 2022. Net profit Net profit 2022 vs. 2023 4Q 2022 vs. 4Q 2023 • The net profit was mainly impacted unfavourably year- on-year by negative exchange rate differences, 50 50 connected with a decline
Slide 14: Statement of results
Statement of results • Higher costs—the faster growth in costs than Statement of results (PLNm ) 2022 2023 % change y/y 4Q 2022 4Q 2023 % change y/y revenues was primarily due to the size of the “bench,” accounting for about 6% of direct costs, as Net revenue from sales of products and services 331.
Slide 15: Revenue structure: sectors
Revenue structure: sectors Healthcare & Life Other Robotics Healthcare & Life Science Science 6% 1% 2% Robotics 2% PLN 26.0m PLN 1.7m PLN 6.5m 3% PLN 6.8m Automotive PLN 13.7m 25% Connectivity & Industry PLN 104.7m Automation 4% Other PLN 13.6m Connectivity & Industry 4% Automation PLN 12.1m 3% Prof
Slide 16: Revenue by sector (PLNm)
Revenue by sector (PLNm) 120,0 104.7 100,0 86.4 2022 2023 • All sectors except geospatial generated 80,0 higher revenue year-on-year. There was a striking growth trend in robotics. 66.8 • The decline in geospatial resulted from 60,0 58.3 55.8 56.6 savings implemented by public entities in the UK. 48
Slide 17: Revenue structure: geography
Revenue structure: geography Other Other Scandinavia PLN 16.6m PLN 29.1m PLN 23.2m 5% Scandinavia UK UK 7% 7% PLN 109.4m PLN 37.5m PLN 116.5m 33% 9% 28% Poland PLN 49.7m Poland 15% 2022 revenue 2023 revenue PLN 331.5m PLN 66.6m PLN 416.1m 16% USA PLN 36.5m DACH USA DACH 11% PLN 96.1m PLN 54.1m PLN 1
Slide 18: 3. Prospects
3. Prospects Financial results for FY 2023 www.spyro-soft.com
Slide 19: Prospects for the upcoming quarters
Prospects for the upcoming quarters Automotive Employee Financial Geospatial Healthcare Industry 4.0 LegalTech Media Robotics Experience & Services Education • Spyrosoft’s prospects for business growth on the principal markets served by the group remain stable. • AI remains an area of strong interes
Slide 20: Thank you for your attention
Thank you for your attention Contact to our investor relations: Joanna Brewińska, NBS Communications +48 502 255 415 spyrosoft@nbs.com.pl www.spyro-soft.com www.spyro-soft.com
Slide 21: Legal disclaimer
Legal disclaimer This presentation has been prepared by Spyrosoft S.A. (the “Company”). The data and information contained in the presentation do not represent a complete or consistent financial analysis, forecast or estimation of results and are for information purposes only. Information contained