Arribatec Group ASA · OSL:ARR
Arribatec Group ASA — Q4 2022 Earnings Presentation
24 slides from Arribatec Group ASA's earnings presentation, 2023
Slide 1: Arribatec. We simplify complexity
Arribatec. We simplify complexity
Slide 2: Quarterly presentation Q4 2022
Quarterly presentation Q4 2022 ^ Geir Johansen, CEO 2
Slide 3: Strong growth in Q4 and full year 2022
Strong growth in Q4 and full year 2022 Revenue Recurring Adj. EBITDA NOK 50m (37m) *NOK -4.5m (-1m) NOK 141m (116m) +35% qrt/qrt Margin – 3.2% Q4 +21.2% qrt/qrt Build-up of a new business unit 35% of total Organic Growth +21.2% (RAMBASE) reduces adj. EBITDA by 1.6m respectively. Adj. EBITDA for the
Slide 4: Highlights Q4
Highlights Q4 • Q4 revenue of NOK 141 million is the highest ever. • All-time high monthly revenue in November of NOK 50m and EBITDA of NOK +3m • Larger contracts secured where more than one business area is part of delivery • Signed agreement with Thon Hotels for hospitality solutions • Annual cost
Slide 5: Geographic revenue growth & share of total
Geographic revenue growth & share of total Norway EU&UK Rest of world NOK 84m (73m) NOK 45m (38m) NOK 11.8m(5.3) Q4 +15% qrt/qrt +18% qrt/qrt +126% qrt/qrt 60% of total 32% of total 8% of total NOK 305m (274m) NOK 163m (111m) NOK 37m (29m) 2022 +12% year/year +47% year/year +26% year/year 60% of tot
Slide 6: New contracts and scope extensions in Q4
New contracts and scope extensions in Q4 98 deals for a total value of NOK 130 million (NOK 83 million in Q3-22) (Amounts in EURO ) 6
Slide 7: Some significant contracts signed in Q4
| Some significant contracts signed in Q4 Norwegian financial Civil engineering Norwegian power Software developmnet Large European institution firm grid company ccompany engineering group • Value: 7.0 MNOK • Value: 2 MNOK • Value: 9-10 MNOK • Value: 4.2 MNOK • Total extension value 5.1 MNOK. • Star
Slide 8: New contracts and scope extensions in 2022
New contracts and scope extensions in 2022 630 deals for a total value of ~NOK 375 million 8
Slide 9: Our business areas
Our business areas Business Services EA & BPM Cloud Hospitality 9
Slide 10: Q4 performance business areas
Q4 performance business areas BizS EA-BPM Cloud 16% 0.4% 23 % 31.4% 40% -3.1% Revenue Growth EBITDA margin Revenue Growth EBITDA margin Revenue Growth EBITDA margin 75m* 0.3m** 27m* 8.6m** 30m* -1.0m** Revenue EBITDA Revenue EBITDA Revenue EBITDA Build-up cost for new business unit (RAMBASE) reduces
Slide 11: Arribatec global foot print
| Arribatec global foot print Norway Oslo Hamar Tronheim Sandness Bergen Sweden UK Denmark BeNeLux Italy United States Cyprus Spain Singapore 16 Offices around 405 1500+ Employees across Customers across the globe 5 business areas industries 11
Slide 12: Employees pr 2022 year end
Employees pr 2022 year end 300 250 239 Date Total 206 31.12.2021 403 200 30.06.2022 445 150 30.09.22 440 30.11.22 443 100 88 31.12.22 405* 61 45 50 *The drop is to a large 50 38 37 extent related to Marine. 9 11 12 12 0 Cloud EA & BPM Business Services Hospitality Marine Group 31.12.2021 31.12.2022
Slide 13: Financial Review
Financial Review 13
Slide 14: Revenue development for each BA per quarter
Revenue development for each BA per quarter % Recurring 32% 37% 36% 37% 35% of Total % Outside 37% 38% 40% 41% 40% Norway 126 140 Marine 120 8 Hspt 13 118 1 1 13 Cloud 115 1 13 1 30 EABPM 10 27 BizS NOK mill. 1 28 28 Elim. 21 22 28 20 22 20 78 72 75 64 67 -2 -2 -14 -14 -12 14 Q4-21 Q1-22 Q2-22 Q3-22
Slide 15: EBITDA pr Business Area
| EBITDA pr Business Area Q4-22 Full year 2022 EBITDA 9.4% 13.8% 1.4% n.a. -21% Margin 8.6 27.4 Underlying operating result for Marine was 12.4 zero. The negative EBITDA stems from sale 0.3 of IP rights in Italy. 1.5 -0.9 -4.2 -8.3 BizS EA-BPM Cloud HspT Marine -10.7 BizS EA-BPM Cloud HspT Marine *
Slide 16: Cash flow development
Cash flow development • 1mill increase in available cash over the last quarter • Total cash at end of 2022 was NOK 40m. In addition we had NOK 14m in un-used NOK mill. bank overdraft facility. • Of the total cash balance, restricted cash accounts for NOK 14m. • As of today, NOK 69.9 in cash and unus
Slide 17: Balance sheet development
Balance sheet development Liabilities & Equity Assets 552 515 552 515 Equity Goodwill Non/current Intangibles Current Other non-current 205 205 Other current 317 282 Trade receivables NOK mill. Cash 111 89 80 58 54 87 45 40 153 89 88 149 44 40 Y.E 2021 Q4-2022 Y.E 2021 Q4-2022 17
Slide 18: Equity development
Equity development 316 18 324 48 2 16 309 22 294 26 282 31.12.21 Net loss 31.03.22 Share issue Net loss 30.06.22 Repair Net loss 30.09.22 Net loss 31.12.22 Q1-22 Q2-22 issue Q3 Q3-22 Q4-22 18
Slide 19: Outlook
Outlook • We expect higher growth rate in 2023 vs 2022 – no planned M&A • Partnership with U4, Hypergene and Rambase will drive growth over the next quarters • Several large public sector projects are out for tender – decisions anticipated Q1 • Robust demand for cloud services will drive growth for
Slide 20: Q&A
Q&A 20 20
Slide 21: Profit & Loss
21 Profit & Loss For the quarter end Year to date NOK thousand Note 31Dec2022___31Dec 2021 31Dec 2022___31Dec 2021 Revenue 3 140 550 115 977 504 968 413 938 Materials, software and services (26 724) (25 037) (115 035) (92 859) Gross profit 113 825 90941 389 934 321079 Salary and personnel costs (95
Slide 22: Balance Sheet
Balance Sheet NOK thousand Note 31Dec 202231 Dec 2021 NOK thousand Note 31Dec 2022 __31Dec 2021 ASSETS EQUITY AND LIABILITIES Non-current assets Equity Property, Plant and equipment 6517 7485 Share capital 9 193.361 163773 Right-of-use assets 6 41719 30 266 Other paid in capital 215645 196 700 Goodw
Slide 23: Cash flow
Cash flow For the quarter end Year to date NOK thousand Note 31Dec 2022 __31 Dec 2021 31Dec 2022 31 Dec 2021 Operating activities Profit/(Loss) before tax. (27 495) (26873) (90.428) (53 660) Taxes paid 0 ° (1 568) (982) Adjustments for: Finance income and expense 4 1214 2.250 73 3.890 = (Increase) d
Slide 24: Equity
Equity Other Exchange NOK thousand Share capital paidincapital___differences__Otherequity __ Total Equity Balance on 1 January 2021 117 203 194510 8 4.493 316214 Result of the period (48 858) (48 858) Comprehensive income for the period, 390 390 Total comprehensive result for the period 0 0 390 (48