Logo Yazilim Sanayi Ve Ticaret A.s. · BIST:LOGO
Logo Yazilim Sanayi Ve Ticaret A.s — Logo Yazılım Sanayi ve Ticaret A.Ş. — H1 2020 Earnings Presentation
19 slides from Logo Yazilim Sanayi Ve Ticaret A.s's earnings presentation, Aug 6, 2020
Slide 1: 1H2020 Results Presentation
1H2020 Results Presentation Gülnur Anlaş Chief Financial Officer August 6th, 2020
Slide 2: Disclaimer
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 refl
Slide 3: Growth continues in 2Q20 amid Covid-19
Growth continues in 2Q20 amid Covid-19 Consolidated Revenues (TL mn) EBITDA (TL mn) Net Income (TL mn) 23% 39% 41% 40% 26% 117 35% 47 23% 31 95 22 34 2Q19 2Q20 2Q19 2Q20 2Q19 2Q20 • Consolidated Revenues up by 23% reaching 117 TL mn, with Turkey and Romania operations contributing 66% and 34% respec
Slide 4: Strong results in 1H20
Strong results in 1H20 Consolidated Revenues (TL mn) EBITDA (TL mn) Net Income (TL mn) 24% 36% 40% 38% 24% 35% 83 219 21% 52 176 61 37 1H19 1H20 1H19 1H20 1H19 1H20 • Revenues up by 24%, reaching 219 TL mn, with Turkey and Romania operations contributing 64% and 36% respectively • EBITDA up by 36%,
Slide 5: Effective Financial Management
Effective Financial Management Consolidated Improved Liquidity (TL mn) Strong FCF LTM (TL mn) Cash and Cash Eq. 26% 61% 192 45 152 28 2019 1H20 1H19 1H20 EPS* growth (LTM) 46% 4,19 2,88 1H19 1H20 *Adjusted by 3.48% treasury shares www.logo.com.tr 4
Slide 6: Exceptional performance in Turkey
Exceptional performance in Turkey Logo Standalone Revenues (TL mn) EBITDA (TL mn) Net Income (TL mn) 31% 44% 47% 31% 56% 50% 78% 38% 139 53% 45% 69 46% 106 34% 53 45% 48 76 40 34% 35 36 58 26 20 2Q19 2Q20 1H19 1H20 2Q19 2Q20 1H19 1H20 2Q19 2Q20 1H19 1H20 Logo Turkey Standalone: Logo’s operations in
Slide 7: eLogo: e-services platform and leader in digital transformation
eLogo: e-services platform and leader in digital transformation Market leader in e-government solutions; e-invoice, e-archive, e-ledger, e-dispatch with 44K customers # of customers ('000) coin usage (mn) CAGR: 46% CAGR: 43% 128% 106% 44 213 32 179 134 18 19 104 87 10 14 73 2016 2017 2018 2019 1H19
Slide 8: İşbaşı: Turkey's MicroSME digitalization solution
İşbaşı: Turkey’s MicroSME digitalization solution Value creation on digital platform: connecting revenue administration, financial institutions, customers, trade partners and e-commerce sites İşbaşı users reached 49K w/ 3K actively paying 3K 2K 1K 46 39 31 19 23 Jun'19 Sept.'19 Dec.'19 Mar.'20 Jun.'
Slide 9: Peoplise: Next Generation Talent Acquisition
Peoplise: Next Generation Talent Acquisition Strategically positioned to leverage the post-covid momentum to digitalize talent acquisition processes of mid to large companies Corporate customer growth of 170% y/y at end-1H reaching 92 clients in 2020 2,5 times increase in screen time and onlin
Slide 10: Total Soft proves resiliency
Total Soft proves resiliency Total Soft Revenues (TL mn) Gross profit (TL mn) EBITDA (TL mn) 11% 13% 8% 7% 78 10% 49% 50% -11% 70 39 20% 20% 49% 50% 34 15 22% 18% 14 37 39 18 20 8 7 2Q19 2Q20 1H19 1H20 2Q19 2Q20 1H19 1H20 2Q19 2Q20 1H19 1H20 Net Income (TL mn) • Revenues up by 11% in TL. Revenue gro
Slide 11: Invoiced Revenue vs IFRS Revenue (Consolidated)
Invoiced Revenue vs IFRS Revenue (Consolidated) Second Quarter Invoices & IFRS Revenues (TL mn) IFRS Revenues= 132 Invoices - Net Deferrals 117 Invoices 95 92 • 2Q sales invoice growth was 43% y/y 72 74 63 62 • IFRS Revenue growth was 23%y/y in 2Q 37 28 27 31 26 24 2Q14 2Q15 2Q16 2Q17 2Q18 2Q19 2Q20
Slide 12: Recurring Revenue Growth Ensuring Predictability
Recurring Revenue Growth Ensuring Predictability Consolidated Recurring Invoices (TL mn) • LEM revenues increased by 30% y/y CAGR: 40% 257 • Pay as you go revenues increased by 111% y/y with strong coin sales. Coin customers and coin 181 42% usage grew by 128% and 106%, respectively 135 140 99 • Mai
Slide 13: Cost of Sales-efficiencies continue
Cost of Sales-efficiencies continue Consolidated (TL mn) – As % of IFRS Revenue Total Soft (TL mn) – As % of IFRS Revenue 21% 19% 51% 50% 219 78 176 70 25% 36 39 11% 38 42 9% 1H19 1H20 1H19 1H20 Revenue Cost of Sales Revenue Cost of Sales www.logo.com.tr 12
Slide 14: Operating Expenses
Operating Expenses OpEx (TL mn) – As % of IFRS Revenue R&D Expenses (TL mn) – As % of IFRS Revenue 57% 56% 26% 25% 219 219 176 176 123 101 22% 20% 45 55 1H19 1H20 1H19 1H20 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 16% 17
Slide 15: Dedicated Investment in Technology
Dedicated Investment in Technology R&D Spending (TL mn) – As % of Invoices 200 40% 180 33% 33% 35% 160 30% 30% 28% 27% 27% 27% 30% 140 120 25% 100 123 20% 15% 80 99 15% 60 77 57 65 10% 40 56 20 41 5% 32 0 0% 2014 2015 2016 2017 2018 2019 1H19 1H20 R&D Spending (TLmn) - LHS R&D Spending/Invoices -RHS
Slide 16: Strong Balance Sheet
Strong Balance Sheet Balance Sheet Highlights (TL mn) Working Capital (TL mn) 2019 1H20 ∆ Cash & Cash Eq. 152,2 191,5 26% 50% 44% 270 41% 41% 240 Trade Receivables 211,2 175,2 -17% 36% 40% 34% 210 Tangible Assets 20,0 20,2 1% 33% 29% 27% 180 Intangible Assets* 342,2 406,3 19% 30% 165 150 Other Asset
Slide 17: Update on Covid-19's impact
Update on Covid-19’s impact All employees well and Logo’s diversified Big ticket sales Agile adaptation to safe continuing to work customer base completed during this conditions: keeping remotely with no (geography, sector and period and solid sales SG&A in line with disruption in operations size) m
Slide 18: Questions & Answers
Questions & Answers
Slide 19: Thank you for joining us today
Thank you for joining us today Logo Investor Relations Team T: +90 262 679 8000 E: investor@logo.com.tr
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