Hightech Payment Systems Sa · CSEMA:HPS
Hightech Payment Systems Sa — H1 2025 Earnings Presentation
31 slides from Hightech Payment Systems Sa's earnings presentation, Sep 24, 2025
Slide 1: H1-2025 Earnings Presentation
H1–2025 Earnings Presentation Strong commercial momentum and visibility for profitable growth September 24, 2025 Feel Good about Payments
Slide 2: H1 - 2025 Highlights
H1 - 2025 Highlights Abdeslam ALAOUI CEO
Slide 3: Main Highlights
Main Highlights H1 continues to demonstrate exceptional commercial momentum in the backdrop of a SaaS transition year • HPS delivered solid results in H1 2025, with adjusted Revenue up +25.7% (+16.4 % due to extraordinary FX headwinds). • The Backlog reached record levels, up +46.7% vs Dec. 2024 and
Slide 4: Commercial Performance & TCV
Commercial Performance & TCV • TCV from new logo sales reached 347 M MAD at end-June 2025, up +180% YoY. • By end-August, TCV reached 765 M MAD, already 70% of FY 2024 (which was an all-time record). • This reflects major wins, including 2 very large On-Premise contracts with Tier-1 worldwide banks
Slide 5: Backlog Strength
Backlog Strength • Backlog reached a record high, up +46.7% at end-June vs Dec. 2024 (+28% ex-CR2) and +83.8% at end-August 2025. • Provides exceptional visibility on revenue and earnings for H2 and beyond. • Backlog composition reflects a balanced mix of SaaS recurring Backlog MMAD contracts and la
Slide 6: Strategic context of AccelR8 Plan
Strategic context of AccelR8 Plan • In line with AccelR8, HPS has fully refocused on its 2025 fully aligned Payment activities. with AccelR8 Core Payment Focus • The Testing business will be divested by end 2025. strategic • This activity had been underperforming in terms of growth and profit, and i
Slide 7: Full year 2025 Guidance
Full year 2025 Guidance HPS expects a sharp rebound in EBITDA for H2-2025 and strong growth beyond • Company reiterates 2025 guidance of 20%+ Revenues and 30%+ EBITDA growth, implying 25%+ Revenue growth vs H1 and EBITDA expected to triple compared to H1. • Drivers: - Deployment of record Backlog wi
Slide 8: H1-2025 Financial review
H1-2025 Financial review Brahim BERRADA Corporate Services Managing Director
Slide 9: HPS Revenue & Business Analysis
HPS Revenue & Business Analysis
Slide 10: H1-2025 Key reported figures
H1-2025 Key reported figures REVENUE EBITDA / MARGIN BACKLOG 672.5 MMAD 69.8 MMAD 10.4% 1,298 MMAD +16.4% Growth -34.0% Growth +46.7% Growth -7.4% Proforma -35.6% Proforma +28.1% Proforma SEGMENT PERFOMANCE PAYMENT ACTIVITY SWITCHING ACTIVITY TESTING ACTIVITY 87% 8% 5% 554.4 MMAD 48.5 MMAD 33.6 MMAD
Slide 11: Business review – Pro Forma basis
Business review – Pro Forma basis HPS delivered stable revenue at constant FX, supported by resilient growth in its core activities ⏵Reported revenue reached 672 M MAD, up +16.4% YoY. ⏵On a pro-forma basis, Group revenue decreased by -7.4%, strongly impacted by FX (USD depreciation of -10.7%). ⏵On a
Slide 12: HPS Payment Activity Performance – FX excluded
HPS Payment Activity Performance – FX excluded Projects Delivery: revenue declined -11%, reflecting the almost exclusive delivery of large SaaS contracts signed in 2023–2024 - SaaS projects generate lower revenue recognition in the build phase, due to the absence of license revenue. - Strong On-Prem
Slide 13: CR2 Activity Performance – FX excluded
CR2 Activity Performance – FX excluded CR2’s performance in H1 reflects timing effects, not structural weakness. • Revenue down -15% YoY (constant FX), mainly due to delays in closing new contracts - Unlike HPS, CR2 applies upfront license recognition: contract signature timing has a direct impact o
Slide 14: Switching Activity Performance
Switching Activity Performance Sustained double-digit growth driven by volume expansion and market liberalization • H1-2025 Performance - Revenue up +12% YoY, reaching 48.5 M MAD. - Growth driven by strong volume expansion : ATM withdrawals: +15% and Payment transactions: +25%. • Market dynamics - M
Slide 15: Testing Activity Performance
Testing Activity Performance The sale of the Testing activity removes a structurally low-margin business, reinforces the Payments focus, and strengthens HPS’s trajectory of profitable growth • H1-2025 Performance - Revenue down -19% YoY, reflecting the continued decline in new opportunities and redu
Slide 16: H1-2025 Adjusted Key figures (excl. FX impact)
H1-2025 Adjusted Key figures (excl. FX impact) REVENUE EBITDA / MARGIN BACKLOG 725.9 MMAD 108.9 MMAD 15.0% 1,322 MMAD +25.7% Growth +1.3% Growth +49.4% Growth -0.1% Proforma +0.1% Proforma +30.3% Proforma SEGMENT PERFOMANCE PAYMENT ACTIVITY SWITCHING ACTIVITY TESTING ACTIVITY 88% 7% 5% 607.8 MMAD 48
Slide 17: Revenue Bridge
Revenue Bridge -7.4% -0.1% 726.6 MMAD 726 MMAD 672.5 MMAD Lowered growth linked to Decline due to delays in the transition to SaaS. new sales which are in Anticipated and budgeted final stages of negotiation effect Activity declining for several years and carried FX impact of -53.4 MMAD, driven by t
Slide 18: HPS EBITDA Analysis & Cash flow
HPS EBITDA Analysis & Cash flow
Slide 19: EBITDA analysis
EBITDA analysis H1 EBITDA aligned with forecasts: SaaS transition impact was anticipated, and the exceptional FX headwind was fully offset by strict costs control © 2025 HPS. All rights reserved CONFIDENTIAL | H1-2025 Earnings Presentation 19
Slide 20: EBITDA analysis
EBITDA analysis • Costs Evolution (H1-2025 vs H1-2024) - HR Costs reduced by 5% thanks to the replacement of expensive external resources by new hires, improving long-term efficiency. - External Costs: Increase mainly explained by strategic growth factors: - Cloud hosting costs linked to SaaS platfo
Slide 21: EBITDA Bridge
EBITDA Bridge -35.6% +0.7% 108.5 MMAD 109.3 MMAD -26.2 MMAD +18.8 MMAD -0.6 MMAD -39.4 MMAD +2.4 MMAD +16.7 MMAD -10.4 MMAD 69.9 MMAD H1-2024 EBITDA Ext. costs Taxes HR Cost Sales & Markt CR2 costs Revenue H1-2025 Adjusted FX H1-2025 Reported © 2025 HPS. All rights reserved CONFIDENTIAL | H1-2025 Ea
Slide 22: Cash-Flow analysis
Cash-Flow analysis +37% +105 -8 -15 -6 280 LT Debt compared to equity 204 529 MMAD 80% -2.8% growth Cash position in MMAD End 2024 Operations Investments Financing Currency End 2024 305 cash position impact cash position 280 238 211 204 ⏵ Operational cash flow: +105 M MAD Optimal management of opera
Slide 23: 2025 outlook
2025 outlook HPS /
Slide 24: H2-2025 Outlook main drivers
H2-2025 Outlook main drivers Strong Backlog deployment - Record backlog (+85.2% at end-August 2025 vs Dec. 2024) provides high visibility. - Large On-Premise projects signed in H1 now entering deployment phase, with strong revenue and EBITDA impact. SaaS ramp-up to profitability - SaaS projects sign
Slide 25: HPS Activity Backlog Conversion
HPS Activity Backlog Conversion HPS Backlog (excluding CR2) conversion historically strong, between 60% and 76% 1,130 MMAD 76% 75% 70% 68% 71% 66% 67% 67% 60% 62% 60% 68% 60% Backlog (beginning of the period) Revenue of the period x% Conversion rate © 2025 HPS. All rights reserved CONFIDENTIAL | H1-
Slide 26: HPS Activity Backlog Conversion
HPS Activity Backlog Conversion 60% Backlog conversion rate for H2 implies 850 ∼ 860 20%+ for 2025 Revenue growth vs 2024 26.5% ∼ 28% 170 M MAD to 1,130 MMAD • Average conversion rate over the selected 180 M MAD period of last 10 half 672 • Reasonable assumption considering the mix of the Backlog wi
Slide 27: H2 2025 EBITDA Guidance Rationale
H2 2025 EBITDA Guidance Rationale EBITDA expected to reach 25% in H2, driven by backlog profile, On-Premise wins and SaaS ramp-up Backlog mix evolution - H2 backlog includes more large On-Premise projects, compared to the SaaS-only mix in H. - These projects carry significant license revenues, gener
Slide 28: Key Takeaways
Key Takeaways Solid foundations to support revenue and profit growth through year-end and beyond Record commercial momentum SaaS transition turning the corner Portfolio optimization HPS continues to win Tier-1 banks and SaaS profitability is now ramping up in Focus on payments with the sale of the s
Slide 29: Disclaimer
Disclaimer HPS /
Slide 30: Disclaimer about forward looking statements
Disclaimer about forward looking statements This presentation (“Presentation”) has been prepared by Hightech Payment Systems S.A. (”HPS” or the “Company”). This Presentation may contain forward-looking statements within the meaning of applicable Moroccan securities laws, including, but not limited t
Slide 31: www.hps-worldwide.com
www.hps-worldwide.com HPS /
Hightech Payment Systems S.A. (HPS) — H1 2025 Earnings Presentation on 6ix