Cyviz As · OSL:CYVIZ
Cyviz As — Q4 2024 Earnings Presentation
17 slides from Cyviz As's earnings presentation, Feb 13, 2025
Slide 1: Q4 Results 2024
Cyviz February 13th, 2025 Q4 Results 2024
Slide 2: Agenda and Presenters
Agenda and Presenters Q4’24 in brief Performance 2020 – 2024 Business Highlights Espen Gylvik | CEO Q4 & YTD Financials Outlook Q&A Karl Peter Gombrii | CFO Q4 Agenda 2
Slide 3: Q4 & Full-year 2024 in brief
Solid Q4 caps off the best full-year performance on record Q4 & Full-year 2024 in brief Q4 Revenue of NOK 189 million in Q4, up 21 million (12%) compared to last year. Gross profit of NOK 96 million (50% margin), up NOK 7 million vs. last year (52% margin) EBITDA of NOK 19.8 million in Q4, down NOK
Slide 4: Cyviz Group rolling 12-months trend 2020-2024
ROLLING 12-MONTHS TREND 2020-2024 CAGR vs 2020 Cyviz Group ORDER REVENUE GROSS INTAKE PROFIT 34% 29% 33% ORDER INTAKE (MNOK) GROSS PROFIT (MNOK) EBITDA (MNOK) -13% +9% +30% 775 313 37 36 36 295 306 710 289 286 30 30 280 282 28 676 642 257 25 626 632 620 589 21 561 220 517 185 9 435 445 402 156 342 1
Slide 5: Order intake pattern
Order intake pattern • Q4-2023 order intake includes a NOK 200 million multi-year deal, with deliveries spread across 2024 and 2025 • “Underlying” order intake smoother – Q4-24 order intake fourth highest on record following solid Q2 and Q3 • Backlog is solid at NOK 380 million after three consecuti
Slide 6: Positive gross margin trend
Positive gross margin trend • Drift driven by larger projects with repeat accounts, and ARR • Gross profit fluctuates due to product mix and timing effects impacting quarterly performance • Gross margin 2024 is above average trend over time – reversal in 2025 anticipated 75% Gross margin (Q) Gross m
Slide 7: Business Highlights
en Business Highlights
Slide 8: Business Highlights Q4: Significant wins
Aker Solutions & Aker SEC Unification New Logo – Saudi Financial Institution, Business BP – USD 6.7m Project, ~ USD 750k Principal Buyer France New iPort rooms and Cyviz remains the preferred Cyviz has won the Cyviz has been awarded a offshore control room partner for delivering high opportunity to
Slide 9: Business Highlights YTD: Significant wins
Business USD 5.7m KPMG – USD 1.65m USD 5.0 m Cyviz will deliver several KPMG continue to entrust Support & Maintenance high-end collaboration Cyviz for their innovation Renewals from over 40 Highlights Q2 YTD rooms for a government labs in Manhattan West, NY customers across the world enterprise in
Slide 10: Q4 Financials
SNK Q4 Financials
Slide 11: Q4 Financial highlights
(all figures in NOK million) +12.4% Revenues Q4 Financial 180 189 168 160 137 160 139 • NOK 21 million (12%) revenue growth 120 107 highlights REVENUES Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 +7.2 Gross profit 96 82 78 88 • NOK 7.2 million growth (+5%) 72 77 66 69 57 • Gross margin 50%
Slide 12: Full-year results 2024
(all figures in NOK million) +2% 595 Revenues Full-year 585 486 • NOK 10 million revenue growth (+2%) 323 • Driven by Q1 and Q2 product mix; results 2024 higher-margin but lower revenues REVENUES 2021 2022 2023 2024 +9% Gross profit 313 289 • NOK 25 million growth (+8.5%) 220 142 • Gross margin 53%
Slide 13: Operating cash flow
Operating cash flow Q4 Key drivers Q4 Operating 4.2 33.7 • Operating result driven by positive EBITDA of cash flow 21.1 NOK 19.8 million • Slightly faster collection and associated increase in AR with impact of 1.3 million 17.1 10.0 1.3 • Inventory decrease improved cash by 10 million; high opening
Slide 14: Positive free cash flow (FCF) in 2024
Positive free cash flow (FCF) in 2024 • FCF of NOK 0.4 million despite substantial R&D investments • R&D investments anticipated to contribute to higher margins amid modest future CAPEX growth CAPEX Cash Flow from Operations R&D Investments dominate CAPEX spend Cash flow from operations entering pos
Slide 15: Outlook
SNK Outlook
Slide 16: Profitable growth driven by growing core business, new products and services, and cost optimization
Outlook Profitable growth driven by growing core business, new products and services, and cost optimization ly Profitable growth & cash management 1 Increased focus on profitability through cost optimization, new services, and continued revenue growth. Putting new tighter processes in place for coll
Slide 17: Q&A
Q&A Q&A