Ctac Nv · EURONEXT:CTAC
Ctac Nv — Shareholder Meeting (April 2023)
43 slides from Ctac Nv's shareholder meeting presentation, Apr 13, 2023
Slide 1: Enabling your ambition
ENABLING YOUR AMBITION
Slide 2: CTAC Annual General Meeting of Shareholders
CTAC Annual General Meeting of Shareholders 13 April 2023
Slide 3: Report of the Board of Directors on the 2022 financial year
ANNUAL GENERAL MEETING OF SHAREHOLDERS – 13 APRIL 2023 Report of the Board of Directors on the 2022 financial year
Slide 4: Agenda
Agenda Market update Technology overview Business update Financial highlights Forward looking statement
Slide 5: Market update
Demand for business consultancy services continues to grow Public Cloud continues to grow with high Market double-digit percentage Finance led ERP solutions interfaced with update smaller kernels provide alternative for complex ERP systems Availability of (senior) consultants remains challenging und
Slide 6: Technology overview
Adoption of public cloud solutions continues to grow Technology State of technology and best practices services improved the last year significantly overview Our role further changes from engineers to advisors and from consultants to challengers What happens around us? – Configure the business, not
Slide 7: Technology overview
To be able to keep pace with the ever-changing market needs and evolution of technology the following principles are in place: Build on the shoulders of the giants – Make use of all Technology the innovations that are provided by the hyperscalers overview First buy, otherwise build Embrace Hybrid cl
Slide 8: Technology overview
Appointed as strategic channel partner next to our Platinum partnership. Azure platform and modern workplace Technology overview Official Select Partner. AWS Rising Star of the Year Strategic partnerships Platinum partner & multi-award winner during the past few years Exclusive partnership in the Be
Slide 9: Ignite change programme
Ignite change programme Transformation to enhance accountability and responsibility within the business units External Internal Strategy Execution Map Business Unit structure Centralization sales Responsibility Virtual Think authority & Focus Customer approach concept People management integrated in
Slide 10: People & culture – key values
People & culture – key values Together Conscious Result oriented Driven Entrepreneurial Several in-house Charity sponsoring New PM-system Educate, Partnerships and external Vitality program implemented Train Ctacademy Client-engagement activities
Slide 11: People & culture – Achievements & objectives
People & culture – Achievements & objectives Head count Learning Vitality Growth by 7.5% and >500 Ctacademy Employee well-being employees Talent & career program Work-life balance 22% is female Insights discovery Balanced workforce Steadily reduction average age from 44.5 to 43.8 360-feedback Reduci
Slide 12: ESG focus - Achievements & objectives
ESG focus - Achievements & objectives Society Clean Vitality energy Adoption of several Electrification of our car Ctac’s Vitality program charities in The Netherlands fleet and Belgium. Employee well-being Replacing LED-lighting at our Head office.
Slide 13: Financial highlights
Financial highlights 117.7 million 12.3 million 6.9 million REVENUE EBITDA EBIT Revenue increased with EBITDA increased with EBIT increased with 6.2%. 10.6% compared to 2021 2.5%. EBITDA margin EBIT margin decreased mainly due to autonomous decreased to 10.5% (2021: from 6.1% to 5.9% growth (8%). 11
Slide 14: Organic and acquisitive growth with organizational improvements
Ctac experienced organic and acquisitive growth as organizational improvements in recent years Revenue EBITDA 10.6% 2.5% 117.7 30 12.3 15.0 106.4 12.0 29 14.5 In 2022, we had a record revenue as a result of organic 28 14.0 27 13.5 26 13.0 25 12.5 growth (8.0%) as well as the acquisitions of Digimij
Slide 15: Performance per core region
Performance per core region1 Ctac focuses on The Netherlands and Belgium The Netherlands 2022 split (%) Belgium Revenue: € 100.8m 82% 18% Revenue: € 22.1m 2021: € 88.7m 2021: € 22.7m EBITDA: € 10.5m 85% 15% EBITDA: € 1.8m 2021: € 10.7m 2021: € 1.3m EBITDA margin: 10.4% 56% 48% EBITDA margin: 8.1% 20
Slide 16: Revenue by service line
Revenue by service line Revenue growth achieved within all lines of services 2022 developments 2022 • Ctac historically focused on the secondment of SAP consultants. However, our consultants have successfully been seconded to broader Significant revenue increase of 2% Secondment and IT areas. That
Slide 17: Historical performance per year (€ mln)
Historical performance per year (€ mln) *The figures for 2020 do not include Ctac France due to discontinued operations Revenue 117,7 EBITDA 120,0 106,4 14,0 12,0 12,3 100,0 12,0 87,3 83,0 81,8 10,2 80,0 10,0 8,0 7,5 60,0 6,0 40,0 4,0 3,4 20,0 2,0 - - 2018 2019 2020* 2021 2022 2018 2019 2020* 2021 2
Slide 18: Other key figures
Other key figures Revenue per direct employee incl. professional temporary staff Net result in €/ revenue from (per FTE x € 1,000) contracts with clients 300 4,00% 200 2,00% 100 191 207 227 217 213 2,9% 2,5% 3,5% 4,2% 4,0% 0 0,00% 2018 2019 2020* 2021 2022 2018 2019 2020* 2021 2022 Net result in €/
Slide 19: Earnings and dividend per share
Earnings and dividend per share 0,4 90% 0,35 0,33 0,34 80% 70% 0,3 In principle, Ctac’s dividend policy aims to pay out0,23 30 to 40 % of the net profit, with the shareholders being offered 60% an optional dividend. 0,25 50% Earnings per share 0,2 40% Dividend per share 0,15 0,13 0,12 Pay-out ratio
Slide 20: Balance sheet
Balance sheet Net result amounts in € x 1.000.000 2022 2021 2022 2021 Intangible fixed assets 28.7 29.4 Group Equity 30.9 27.2 Right-of-use assets 9.9 10.7 Long-term bank liabilities 1.1 2.0 Tangible fixed assets 1.2 0.8 Long-term lease obligations 7.3 7.9 Financial fixed assets 2.7 1.2 Other long-t
Slide 21: Headroom per 31 december
Headroom per 31 december Headroom at year-end 18,0 16,0 14,0 The total headroom on 31 December 2022 amounts to € 14.6 million. The credit facility is committed through to April 2024. At the end of 12,0 2022, the net cash amounted to € 5.4 million. 10,0 8,0 6,0 4,0 2,0 6,4 5,9 17,5 17,6 14,6 - 2018 2
Slide 22: Operational cash flow conversion explained
Operational cash flow conversion explained Financial position – net cash Net cash position Increase Decrease Ctac generated negative cash flows in 2022. End of period net cash decreased to € 7.4m (31-12-2021: € 10.4m) Cash flow from operations Cash flow from Cash flow Investments from Financing The
Slide 23: Key take aways | 2022
Key take aways | 2022 Key financial figures improved overall. Ignite Change programme created focus Record revenue and second highest on clients and our employees result in our history In 2022 we broadened our portfolio. Integration of recent acquisitions in our Portfolio rationalization and M&A str
Slide 24: Forward looking statement
The digital transformation of both companies and public sector organisations is expected to continue in the coming years. Ctac expects to realise single-digit organic Forward looking revenue growth and we look to improve our overall profitability with an EBITDA margin of statement 11% - 13% in 2023.
Slide 25: Presentation on audit by PricewaterhouseCoopers Accountants N.V.
ANNUAL GENERAL MEETING OF SHAREHOLDERS – 13 APRIL 2023 Presentation on audit by PricewaterhouseCoopers Accountants N.V.
Slide 26: Report on the 2022 financial statements of Ctac N.V.
Report on the 2022 financial statements of Ctac N.V. 13 April 2023
Slide 27: Content
Content 1. Introduction | Financial reporting framework 2. Our opinion | Other information 3. Materiality | The scope of our group audit 4. Key audit matters 5. Fraud 6. Going-concern 7. Climate change 27
Slide 28: Introduction | Financial reporting framework
Report on the 2022 financial statements Introduction | Financial reporting framework • Introduction • We have audited the 2022 financial statements of Ctac N.V. • We conducted our audit in accordance with Dutch law, including the Dutch Standards on Auditing. Financial reporting framework • The finan
Slide 29: Our opinion | Other information
Report on the 2022 financial statements Our opinion | Other information Our opinion • The company and consolidated financial statements of Ctac N.V. and its subsidiaries give a true and fair view of the financial position of the group as at 31 December 2022 and of its result and its cash flows for 2
Slide 30: Materiality | The scope of our group audit
Report on the 2022 financial statements Materiality | The scope of our group audit Materiality • Materiality: €1.100.000 • Based on 1% of total revenues The scope of our group audit • We conducted the entire audit at the head office of Ctac in the Netherlands. • The group audit mainly focused on the
Slide 31: Key audit matters
Report on the 2022 financial statements Key audit matters Key audit matters Sale of the intangible asset related to the Fit4Woco application • Disclosed in note 1.4 ‘In eigen beheer vervaardigde immateriele vaste activa’ of the financial statements • Complex, non-standard transaction, with multiple
Slide 32: Fraud
Report on the 2022 financial statements Fraud Our audit approach in respect of fraud risks Reference is made to note ‘Fraude risicomanagement’ in the financial statements, and the section ‘Controleaanpak frauderisico’s’ in our independent auditor’s report. Fraud risks included in our audit plan: • R
Slide 33: Going-concern
Report on the 2022 financial statements Going-concern Our audit approach in respect of going-concern Reference is made to note ‘Belangrijkste grondslagen voor de jaarrekening’ in the financial statements, and the section ‘Continuïteit’ in our independent auditor’s report. • The Board of Directors pr
Slide 34: Climate change
Report on the 2022 financial statements Climate change Evaluation of risks related to climate change Reference is made to paragraph ‘Duurzaamheid’ in ‘Verslag van de Raad van Bestuur’. • Ctac has concluded that climate risks do not have a material impact on the company’s business model. We concur wi
Slide 35: pwc.nl
pwc.nl © 2023 PwC. All rights reserved. Not for further distribution without the prior written permission of PwC. "PwC" refers to the network of member firms of PricewaterhouseCoopers International Limited (PwCIL), or, as the context requires, individual member firms of the PwC network. Please see w
Slide 36: Remuneration
ANNUAL GENERAL MEETING OF SHAREHOLDERS – 13 APRIL 2023 Remuneration
Slide 37: Introduction
Introduction The information in this presentation has the following objective: Clarification of and explanation on the agenda items 4a and 4b of the Annual General Meeting of Shareholders dated 13 April 2023 Please refer to the Ctac website for the remuneration report and the remuneration policy
Slide 38: 4a. Remuneration report
4a. Remuneration report During and following the 2022 AGM, we have engaged in discussions with various stakeholders on their reaction and remarks on the remuneration report, which have been taken into account in the underlying report. FY 2022 reported remuneration highlights: • During 2022, the Boar
Slide 39: 4b. Proposal to amend and adopt the remuneration policy (1)
4b. Proposal to amend and adopt the remuneration policy (1) • During and following the 2022 AGM, we have engaged in discussions with various stakeholders following their remarks on the proposed remuneration policy. It was noted that the proposed remuneration policy could be improved by simplificatio
Slide 40: 4b. Proposal to amend and adopt the remuneration policy (2)
4b. Proposal to amend and adopt the remuneration policy (2) FIXED AND VARIABLE REMUNERATION RATIOS Within the Board of Directors, the ratios between fixed and variable remuneration and between short-term and long-term variable remuneration are the same for all members. The following ratios apply as
Slide 41: 4b. Proposal to amend and adopt the remuneration policy (3)
4b. Proposal to amend and adopt the remuneration policy (3) ELEMENT 2022 2023 Base salary Annual base salary based on competences, experience and seniority, taking into account the roles and responsibilities, benchmarked against the peer group. STI • Revenue Weighting of financial performance measur
Slide 42: CTAC Annual General Meeting of Shareholders
CTAC Annual General Meeting of Shareholders 13 April 2023
Slide 43: Enabling your ambition
ENABLING YOUR AMBITION