Slide 1: Investor Presentation: Q1 2025 Earnings Preview
APRIL 24 RESULTS 2025 INVESTOR PRESENTATION Q1 2025 Earnings Preview José Antonio Martínez Aguilar CEO Making Science
Slide 2: Disclaimer
Disclaimer This document and the conference-call webcast (including the Except as required by applicable law, Making Science does not Q&A session) may contain forward-looking statements and assume any obligation to publicly update the Information to information (hereinafter, the “Information”) relat
Slide 3: Table of contents
Table of contents Q1 2025 Earnings Preview 01 Overview of the Company 02 Artificial Intelligence at Making Science 03 Q1 2025 Results 04 Guidance 2025 and Plan 2027 Appendix 3
Slide 4: Overview of the Company
01 Overview of the Company 4
Slide 5: Who are we?
Who Making Science is a marketing and technology consulting firm helping companies accelerate are we? their digital capabilities Making Science is an international digital acceleration company with more than 1,200 employees and presence in 16 countries. Making Science's business focuses on the high-g
Slide 6: Our Business Lines
Our Business Lines 4 Business Lines Making Science has developed different lines of business in recent years. ● All business lines are profitable and growing at double digits ● A new structure has been defined with global COOs by business line ● A business plan for growth is being defined for each of th
Slide 7: Making Science's Services
Making Science’s Services 360º Capabilities Performance Measure Paid Media Campaign Analytics, CRO, Management & Dashboarding Programmatics & Big Data Identify & Design eCommerce Creativity SEO Customer eCommerce Strategy & UX Platform Content & Content Platform Management Brand Identity and User Ex
Slide 8: Our Flywheel
Our Flywheel Complementary, high-growth business lines that reinforce the value proposition to the client Technology, Cloud We have a large number of software engineers, data engineers and data scientists developing digital platforms & Software and proprietary technologies. AdTech & MarTech Digital
Slide 9: Some of Our Clients
Some of Our Clients We create value through integrated solutions to deliver a 360-degree, results-oriented experience 9
Slide 10: Working with the Largest Global Platforms
Working with the Largest Global Platforms Experienced in all channels of the digital ecosystem We are partners of the main Google technological players in the sector, Security which gives us a complete vision of the digital advertising ecosystem. Our way of working is Full funnel Partners activation
Slide 11: Certifications Progress in LATAM
CERTIFICATIONS PROGRESS IN LATAM Making Science has achieved Google Marketing Platform reseller status in Colombia and Mexico Region EMEA USA LATAM SPAIN EMEA CONTRACT Partnership EUR USD GBP levels and US contracts PORTUGAL EMEA CONTRACT CONTRACT EUR USD USD CAD Feb 1st Feb 1st Currencies EUR USD G
Slide 12: Making Science is Becoming More Global
Making Science is Becoming More Global 12
Slide 13: New Recognitions and Memberships
New Recognitions and Memberships 13
Slide 14: Evolution
Evolution The company is in its Phase 3 Revenue (millions of euros) What does it consist of? MUCH HIGHER THE COMPANY IS THE COMPANY OPERATING ALREADY VERY DOUBLES IN SIZE LEVERAGE AND LARGE AND EVERY ECONOMIES OF DIVERSIFIED 3 OR 4 YEARS SCALE THE GEOGRAPHIC LOCATION OF THE THE COMPANY CAN THE COMPA
Slide 15: Artificial Intelligence at Making Science
02 Artificial Intelligence at Making Science 15
Slide 16: Tagline Evolution
TAGLINE EVOLUTION Making Science Group, SA - Company Confidential 16
Slide 17: The Technology Division
The Technology Division It combines business expertise with data science to offer advanced AI-based solutions applied to marketing. With RAISING, the company is positioned as a global benchmark in digital transformation. It differentiates Making Science from the competition by adding a separate and
Slide 18: Media Efficiency, Measurement, Content Generation
MEDIA MEASUREMENT CONTENT EFFICIENCY & AUDIENCES GENERATION
Slide 19: Maximize the performance of online advertising campaigns
Maximize the performance of Optimize processes and improve Quality content at scale online advertising campaigns. business results. trusted by humans. +15% sales +38% revenue +45% new customers +250% revenue +100% SEO visibility +8% sales Ad-machina is a comprehensive technology that uses Gauss AI i
Slide 20: AI for Marketing Cloud Specializations & Certified Experts
AI FOR MARKETING CLOUD SPECIALIZATIONS & CERTIFIED EXPERTS Making Science Group, SA - Company Confidential 20
Slide 21: AI Tools
AI Tools Making Science employees have access to all the newest AI tools to increase productivity and improve customer satisfaction Chatbot AI assistant Chatbot AI assistant Chatbot AI assistant, integrated into Google products Chatbot AI assistant, integrated AI-enabled coding assistant in Microsof
Slide 22: Q1 2025 Results
O03 Q1 2025 Results making 22
Slide 23: Market Environment
Market Environment Declining growth rates Year-over-year revenue growth rates (2022 - 2024)¹ 2 3 3 1. Source: Statista, annual and quarterly reports. 23 2. The annual periods represent December-November due to the August 31 year-end. 3. 2022 presented on a like-for-like comparative basis.
Slide 24: New Clients in Q1 2025
New Clients in Q1 2025 Major Growth in All Geographies 24
Slide 25: Q1 2025 Highlights
Q1 2025 Highlights 01 02 03 04 Strong Quarterly EBITDA Growth Sustainable Profitability in USA Great Momentum in Artificial Intelligence Entry of New Shareholder Onchena, SL Recurring EBITDA Published on February 26th in €4.0M BME Growth in Q1 2025 CONTINUING TO SECOND QUARTER ENTRY OF A NEW TARGET GU
Slide 26: Q1 2025 Results: Consolidated
Q1 2025 Results Consolidated Continued revenue and gross Results (Q1 2024 vs. Q1 2025) margin growth, combined with operating cost control, led to the +33% highest quarter of EBITDA in Making Science’s history €82.7 €62.4 ● Both Spain and the core International markets (excluding Georgia) grew gross
Slide 27: Q1 2025 Results: Core Business
Q1 2025 Results Core Business Significant growth in our Results (Q1 2024 vs. Q1 2025) business demonstrates the strengths of our core operations (Core Business). +35% €80.2 €59.4 ● Revenues and gross margin grew by 35% and 7% in Q1 2025, to €80.2 million and €17.8 million, respectively +7% ● Recurrin
Slide 28: Core Business by Segment
Q1 2025 Results Core Business by Segment Spain (Q1 2024 vs. Q1 2025) International (Q1 2024 vs. Q1 2025) -10% +103% €35.8 €48.0 €32.2 €23.6 +17% ex. Georgia +17% -3% €10.0 €8.5 €8.1 -4% €7.8 +102% €2.7 €2.6 €1.3 €0.6 Revenue Gross Margin Recurring EBITDA Revenue Gross Margin Recurring EBITDA 28
Slide 29: Stability and Predictability of Revenues
Stability and Predictability of Revenues Historical Gross Margin Fee Structure Quarterly Gross Margin (Core) (millions of euros) The structure of service fees may vary considerably depending on each Normal slight decline from Q4 to Q1 case, client and company, but in general the following can be dis
Slide 30: Investments: E-Commerce & Products
Q1 2025 Results Investments: E-Commerce & Products Ventis has remained profitable in Q1 2025 Results (Q1 2024 vs. Q1 2025) -15% ● Net revenues fell by 15% in Q1 2025 €3.0 over 2024, and gross margin fell by 25% €2.5 ● This has led to a fall in EBITDA from €205k in Q1 2024 to €64k in Q1 2025, although
Slide 31: Non-Recurring Costs
Non-Recurring Costs Main groups of expenses ● Non-recurring expenses have fallen Non-Recurring Costs in Q1 2025 from the amounts seen in Q3 and Q4 of 2024 MSG Consolidated (€ '000) 1Q24 2Q24 3Q24 4Q24 1Q25 ● Expenses in Q1 2025 related to corporate operations and certain Corporate Operations 26 66 7
Slide 32: Guidance 2025 and Plan 2027
04 Guidance 2025 and Plan 2027 32
Slide 33: Guidance 2025
Guidance 2025 Key Figures and Percentage Achieved as of Q1 2025 Q1 2025 2025 Close Low High Revenue (€ millions) 82.7 350 370 The Making Science Board of Directors met Percentage Achieved at Q1 2025 24% 22% on January 30, 2025. After analyzing the year's results and Gross Margin (€ millions) 18.5 79
Slide 34: Objectives: Guidance 2025 and Plan 2027
Objectives Guidance 2025 and Plan 2027 Recurring EBITDA (millions of euros)¹ Guidance 2025 €23 - €27 €17 - 18 M €17 - €18 Plan 2027 €23 - 27 M Implied compound annual growth rate (2025-2027)² 20% 1. 2019-2021 based on Spanish GAAP. 2022-2027 based on IFRS. 2. Based on the midpoints of the ranges 34
Slide 35: Investor Day Agenda, May 6th
AGENDA Date: May 6th 9:00 - 9:15h - Reception and Welcome Breakfast Location: C/ López de Hoyos 135 - 4th floor 9:15 - 9:35h - "Status and Strategy: Solid Present, Strategic Future" José Antonio Martínez Time: 9:00am - 10:30am Aguilar, CEO & Founder 9:35 - 9:50h - "Financial Deep Dive: Keys to Momen
Slide 36: Thank you
Thank you INVESTOR PRESENTATION THE DIGITAL ACCELERATION COMPANY 36
Slide 37: Appendix
APPENDIX 37
Slide 38: Q1 2025 Results by segment
Q1 2025 Results By segment Q1 2024 Q1 2025 Var. Figures in € '000 Spain Int'l Core Invest, Total Spain Int'l Core Invest, Total Spain Int'l Core Revenues 35,777 23,641 59,418 2,963 62,381 32,220 47,983 80,203 2,509 82,712 -9.9 103.0 35.0 Cost of Sales -27,250 -15,587 -42,837 -2,005 -44,841 -22,269 -
Slide 39: 2024 Results by segment
2024 Results By segment 2023 2024 Var. Figures in € '000 Spain Int'l Core Invest. Total Spain Int'l Core Invest. Total Spain Int'l Core Revenues 130,324 94,665 224,989 10,776 235,765 135,596 127,053 262,649 11,359 274,008 4.0 34.2 16.7 Cost of Sales -98,164 -66,686 -164,850 -6,781 -171,631 -100,564
Slide 40: Quarterly Gross Margin
Quarterly Gross Margin Core Business by Country Var. % Q1 in € 000s 1Q24 2Q24 3Q24 4Q24 1Q25 25/24 Spain 8,527 9,056 8,027 9,421 9,951 16.7% International 8,054 8,078 7,320 8,558 7,799 -3.2% - France 1,512 1,570 1,368 1,252 1,731 14.5% - Italy 1,103 1,042 1,033 1,060 1,129 2.4% - Nordics 2,031 2,166
Slide 41: Quarterly EBITDA
Quarterly EBITDA Core Business by Country Var. % Q1 in € 000s 1Q24 2Q24 3Q24 4Q24 1Q25 25/24 Spain 2,749 2,340 2,006 2,493 2,639 -4.0% International 635 1,245 1,158 1,192 1,282 101.9% - France 505 521 390 186 536 6.1% - Italy 301 318 277 237 201 -33.2% - Nordics 339 368 539 541 360 6.2% - U.K. 144 1
Slide 42: Shareholder Information
Shareholder Information Significant ongoing investment from key stakeholders of the company Share Information Shareholder Composition 55% The (Madrid) Science of Digital, Green Scientific Tree, Bastiat Internet Ventures (José Antonio Martínez Aguilar, President and CEO) (Paris) 18% Other management an
Slide 43: Analyst Coverage
Analyst Coverage Analyst reports are available to investors on the Making Science Investors page. Analyst Analyst Fernando Abril-Martorell Iván San Félix Carbajo 43
Slide 44: Thank you!
THANK YOU! THE DIGITAL ACCELERATION COMPANY