Logo Yazilim Sanayi Ve Ticaret A.s. · BIST:LOGO

Logo Yazilim Sanayi Ve Ticaret A.s — Logo Yazılım Sanayi ve Ticaret A.Ş. — Q2 2021 Earnings Presentation

23 slides from Logo Yazilim Sanayi Ve Ticaret A.s's earnings presentation, Aug 12, 2021

  1. Slide 1: Chief Financial Officer, August 12th, 2021

    Chief Financial Officer August 12th, 2021

  2. Slide 2: Disclaimer

    This presentation contains information and analysis on financial statements as well as forward-looking statements that reflect Logo management’s current views with respect to certain future events. Although it is believed that the information and analysis are correct and expectations reflected in th

  3. Slide 3: Outstanding performance continues in Q2

    ▪ Outstanding performance continues in Q2 ▪ Revenue growth combined with efficiency ensure the upward trend in revenue and EBITDA per employee ▪ Recurring revenues grew in all categories reaching 64% of invoiced sales ▪ Turkey; ▪ Revenues increased by 51% with healthy new customer acquisitions, incr

  4. Slide 4: Q2 Revenues, EBITDA and Net Income

    Revenues (TL mn) EBITDA (TL mn) Net Income (TL mn) 52% 72% 111% 178 45% 37% 40% 80 117 65 26% 47 31 Q220 Q221 Q220 Q221 Q220 Q221 • Revenues grew by 52% reaching 178 TL mn, with Turkey and Romania operations contributing 68% and 32% respectively. • EBITDA increased by 72%, yielding 45% margin. • Net

  5. Slide 5: H1 Revenues, EBITDA and Net Income

    Revenues (TL mn) EBITDA (TL mn) Net Income (TL mn) 45% 63% 132% 43% 38% 317 135 38% 120 219 24% 83 52 H120 H121 H120 H121 H120 H121 • Revenues up by 45%, reaching 317 TL mn, with Turkey and Romania operations contributing 67% and 33% respectively • EBITDA up by 63%, reaching 135 TL mn yielding 43% m

  6. Slide 6: Cash, Free Cash Flow and EPS growth

    Cash & Cash Equivalents Strong FCF – LTM (TL mn) 29% 50% 338 67 262 45 2020 H121 H120 H121 EPS* growth 80% 1,89 1,05 H120 H121 *Adjusted by 3.22% treasury shares (H120: 3.48%)

  7. Slide 7: Logo Turkey Revenues, EBITDA and Net Income

    Logo Turkey-Revenues (TL mn) Logo Turkey-EBITDA (TL mn) Logo Turkey-Net Income (TL mn) 51% 66% 104% 53% 49% 71% 56% 212 77% 103 112 56% 48% 49% 141 36% 121 51% 67 68 43% 59 51 78 39 33 Q220 Q221 H120 H121 Q220 Q221 H120 H121 Q220 Q221 H120 H121 • Revenues increased by 51% with healthy new customer a

  8. Slide 8: Market leader in e-government solutions with 71K customers

    Market leader in e-government solutions; e-invoice, e-archive, e-ledger, e-dispatch with 71K customers # of customers ('000) eLogo invoiced revenues (TL mn) CAGR: 53% CAGR: 49% 60% 71 24 56 44 32 37 14 18 134 10 18 11 10 70 21 28 38 2016 2017 2018 2019 2020 H120 H121 2016 2017 2018 2019 2020 coin us

  9. Slide 9: Logo CaptainBiz: 566% user growth y/y

    ✓ 566% growth y/y Logo CaptainBiz Logo CaptainBiz is GSTN is a mobile approved solution ✓ Only 8 solutions are Only 4 solutions are high service quality approved by the Goods mobile among the 8- and Services Tax GSTN-approved Network (GSTN) of India solutions ✓ easy upgradability ✓ Value creation on

  10. Slide 10: Peoplise invoiced revenues grew 169% y/y

    ✓ Invoiced revenues in Q221 grew by 169% y/y ✓ Peoplise expanding its dominant position in the local enterprise market in remote talent acquisition and onboarding ✓ More than a million candidates have gone through Peoplise platform, completing 350,000+ assessments, 80,000 reviews and interviews in H

  11. Slide 11: Total Soft Revenues, Gross Profit, EBITDA, Net Income

    Total Soft–Revenues (TL mn) Total Soft–Gross profit (TL mn) Total Soft–EBITDA (TL mn) 27% 35% 50% 47% 22% 45% 105 34% 50% 79% 50 20% 23 78 46% 39 22% 57 50% 15 26 18% 13 39 20 7 Q220 Q221 H120 H121 Q220 Q221 H120 H121 Q220 Q221 H120 H121 Total Soft-Net Income (TL mn) • Revenues grew by 35% y/y and r

  12. Slide 12: Second Quarter Invoices & IFRS Revenues

    Second Quarter Invoices & IFRS Revenues (TL mn) IFRS Revenues= 178 177 Invoices - Net Deferrals Invoices 132 • Q2 sales invoice growth was 35% y/y 117 95 92 • IFRS Revenue growth was 52%y/y in Q2 72 74 63 62 37 31 28 27 Q215 Q216 Q217 Q218 Q219 Q220 Q221 Invoiced Revenues (TL mn) CAGR: 32% 618 • In

  13. Slide 13: Consolidated Recurring Invoices

    Consolidated Recurring Invoices (TL mn) • LEM revenues increased by 14% y/y CAGR: 40% • Pay as you go revenues increased by 79% y/y with strong coin sales 384 46% • Maintenance revenues increased by 33% y/y with 257 significant contribution from Total Soft 205 181 135 140 • Retail SaaS revenues incr

  14. Slide 14: Cost of Sales as % of IFRS Revenue

    Consolidated (TL mn) – As % of IFRS Revenue Total Soft (TL mn) – As % of IFRS Revenue 19% 19% 50% 53% 317 219 105 78 43% 56 48% 39 42 62 H120 H121 H120 H121 Revenue Cost of Sales Revenue Cost of Sales

  15. Slide 15: OpEx as % of IFRS Revenue

    OpEx (TL mn) – As % of IFRS Revenue R&D Expenses (TL mn) – As % of IFRS Revenue 56% 50% 25% 23% 317 317 219 219 123 28% 158 55 33% 72 H120 H121 H120 H121 Total Revenue Total Opex Total Revenue R&D Expense S&M (TL mn) – As % of IFRS Revenue G&A (TL mn) – As % of IFRS Revenue 17% 14% 15% 13% 317 317 2

  16. Slide 16: R&D Spending as % of Invoices

    R&D Spending (TL mn) – As % of Invoices 250 33% 35% 30% 30% 29% 27% 27% 27% 30% 200 24% 25% 150 20% 146 %45 100 123 15% 99 94 10% 50 77 57 65 5% 41 0 0% 2015 2016 2017 2018 2019 2020 H120 H121 R&D Spending (TLmn) - LHS R&D Spending/Invoices -RHS

  17. Slide 17: Balance Sheet Highlights and Working Capital

    Balance Sheet Highlights (TL mn) Working Capital (TL mn) 2020 H121 ∆ Cash & Cash Eq. 261,6 338,3 29% 400 Trade Receivables 235,7 225,8 -4% 50% 44% 350 41% Tangible Assets 19,3 18,3 -6% 36% 300 Intangible Assets* 470,2 540,7 15% 40% 33% 34% 28% 27% 27% 250 Other Assets 110,7 91,5 -17% 30% Total Asset

  18. Slide 18: 2021 guidance

    2020 2021 guidance Invoiced Revenue (TL mn) +31% 179 560 226 802 615 16 429 6 IFRS Revenue (TL mn) +33% 226 15 728 179 6 545 489 361 EBITDA** (TL mn) +47% 221 260 30 177 43 -8 150 -8 Margins 41% 17% n.m. 33% 45% 19% n.m. 36% EBT (TL mn) +66% -11 190 11 196 118 4 -9 118 Margins 33% 2% n.m. 22% 39% 5%

  19. Slide 19: Questions & Answers

    Questions»& Answers

  20. Slide 20: Appendix

    Appendix

  21. Slide 21: Invoice revenues: one-time and recurring

    2016 2017 2018 2019 2020 4-yr-CAGR Invoice revenues (TL mn) 175,8 259,1 333,0 460,1 617,7 37% One-time 91,6 123,6 152,5 203,0 233,5 26% share in total 52% 48% 46% 44% 38% Recurring 84,1 135,5 180,5 257,2 384,2 46% share in total 48% 52% 54% 56% 62% Recurring invoice revenues (TL mn) LEM 46,2 61,4 75

  22. Slide 22: ESG in numbers

    ESG in numbers + + + + 1,233 44% 45% 79 35 Employees Women Women in Employee Average age employees executive engagement of employees management index score (TR) + + + 78% 24% 50% 9,22/10 100% of employees R&D spending/ of Board is Corporate of e-waste works in invoiced independent Governance recycle

  23. Slide 23: Thank you for joining us today

    _ Thank you forjoining us today Logo Investor Relations Team T: +90 262 679 8000 E: investor@logo.com.tr

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