Hitit Bilgisayar Hizmetleri A.s. · BIST:HTTBT
Hitit Bilgisayar Hizmetleri A.s — Q1 2024 Earnings Presentation
27 slides from Hitit Bilgisayar Hizmetleri A.s's earnings presentation, Mar 31, 2024
Slide 1: A Rising Star in Airline & Travel IT Solutions
A Rising Star in Airline & Travel IT Solutions 2024 March Results Presentation
Slide 2: Hitit At a Glance
Hitit At a Glance 2024 1st QUARTER The 3rd largest PSS One integrated Above pre-Covid Global scaling with provider in the solution suitable for levels both in cloud-based, world* all airlines, from the passengers and modern, and smallest to the largest revenue flexible technology infrastructure 2 *
Slide 3: Crane Partner Community
Crane Partner We meet the needs of Partners in different business models all over the Community world 2024 1st QUARTER 48 COUNTRIES 74 PARTNERS Utilizing Hitit's Crane solutions and services 3
Slide 4: Hitit empowers aviation all around the globe
Hitit empowers aviation all Visualization of Hitit Partner aircraft movements within a 24-hour period based on FlightRadar 24 data around the globe 2024 1st QUARTER 4
Slide 5: Hitit empowers aviation all around the globe
Hitit empowers aviation all Visualization of destinations served by Hitit Partners based on live airport data within Crane systems around the globe 2024 1st QUARTER 5
Slide 6: Hitit by Numbers
7,0M USD Hitit by 2024 Q1 Sales Numbers Revenues + 10% over 2023 Q1 33% 2024 1st QUARTER EBITDA Margin -7% vs 2023 Q1 +17% 74 Partners Passenger volumes over 2023 Q1 +2 new, 1 suspended Partners within 2024 6 Q1
Slide 7: Hitit by Numbers
700+ Hitit by Airports served Numbers through Crane DCS 2024 1RD QUARTER 85 Countries with border and custom systems integrated with Hitit $6.5 65+ billion Integrations with different banks and alternative Sales volume payment systems generated by Hitit 7 Partners in 2023
Slide 8: Financial and Other Important Developments
Financial and Other Important Developments Innovative Technology Investments In line with the projects being carried out within the Technopolis regulations, 3.3 million dollars for R&D along with 1.8 million dollars for license, hardware, and fixtures were 2024 1st QUARTER invested as of Q1 2024. Th
Slide 9: Financial Evolution
At the end of the Q1 2024, revenue exceeded the same period for 2023. Financial Evolution (Reporting in USD Functional Currency) As of the end of the Q1 2024, the EBITDA amount was 2.3m USD and the EBITDA margin was realized as 33%. 2024 1st QUARTER Sales were realized 76% in foreign currency, 24% i
Slide 10: Forward-Looking Evaluations
Forward-Looking Evaluations In addition to the product and service production, sales and marketing activities carried in line with its growth strategy, the company continues its investments to achieve its goals. Within this framework, as of the end of 2024, on a USD basis; 2024 1st QUARTER Growth in
Slide 11: Financial Summary
Financial Summary Functional currency is USD since 01.01.2020. 2023-3M 2024-3M 50,0 45,0 40,0 35,0 2024 1st QUARTER 30,0 25,0 20,0 15,0 10,0 5,0 %60 %52 %40 %33 - Net Sales (USD Million) Gross Profit (USD Million) EBITDA Equity (USD Million) (USD Million) $12.1 mn net cash position as of March 31, 2
Slide 12: Financial Summary
Financial Summary Approximately 76% of sales are in foreign currency (USD or EUR) SaaS Share (%) PSS ADS Other 81% 9% 10% 2023-3M 2024-3M Revenue Breakdown(USD) USD % USD % SaaS 3,627 57% 3,980 57% 2024 1st QUARTER Software Development and Maintenance 1,863 29% 2,088 30% IaaS ve Projects 853 14% 923
Slide 13: Financial Summary: Cost Breakdown
Approximately 53% of Financial Summary costs are in TL Cost Breakdown1 Cost Breakdown2 Currency Distribution USD 6,156k by 2024 March USD 6,156k by 2024 March By 2024 March 2% 6% 2% 12% 7% 2024 1RD QUARTER 10% 17% 43% 19% 55% 69% 54% 19% 22% 53% Cost of sales Personnel Amortization TL EUR General ma
Slide 14: Noteworthy Partner Acquisitions and Key Developments
Noteworthy Partner Acquisitions Key Developments and Developments in Q1 2024 New Partner Acquisitions and Implementations 2 new Partners have been signed in Q1 2024, both within existing geographies as part of our reinforcing growth strategy. 4 of the ongoing implementation projects from 2023 have b
Slide 15: Industrial KPIs Evolution Trends (RPK)
Revenue Passenger Kilometers (RPK) Industrial KPIs Evolution Trends (%) RPK Change % 35,00% 30,00% 2024 1st QUARTER 25,00% 20,00% 15,00% 10,00% 5,00% 0,00% Industry Africa Asia Pacific Europe Latin America Middle East North America Year-On-Year Year-To-Date 15 Source: IATA Economics – Air Passenger
Slide 16: Industrial KPIs and Passenger Load Factors
Revenue Passenger Kilometers (RPK) Industrial KPIs and Passenger Load Factors (PLF) Passenger Load Factor (PLF) as Global Revenue Passenger Kilometers (RPK) % of Available Seat Kilometers (ASK) 2024 1st QUARTER 16 Source: IATA Economics – Air Passenger Market Analysis (March 2024)
Slide 17: Balance Sheet
Balance Sheet Balance Sheet (USD ‘000) 31-12-2023 31.03.2024 Cash and cash equivalents 7,420 5,121 Financial assets 8,386 7,002 Trade receivables 6,263 7,189 Prepaid expenses 2,063 2,257 Other current assets 1,061 1,113 Total current assets 25,194 22,682 Property, plant and equipment 5,158 6,325 Int
Slide 18: Income Statement
Income Statement Income Statement (USD ‘000) 1 January- 31 March 2023 1 January- 31 March 2024 Net sales 6,343 6,991 COGS (-) (3,206) (4,237) Gross profit before D&A 3,819 3,658 Depreciation and amortization 681 904 Gross profit after D&A 3,138 2,754 Gross profit margin 49% 39% 2024 1st QUARTER Mark
Slide 19: Corporate Social Responsibility Projects
Corporate Social As a global player, Hitit places utmost importance on its commitments to society and social responsibility Responsibility Projects Permanent table tennis areas are being Gender Equality established in container cities in the Mentoring women in technology jobs 2000 provinces that wer
Slide 20: Sustainability Initiatives
Sustainability We support our Partners and the aviation industry, as well as our own internal processes in adopting ESG Initiatives principles and best practices. 2022 and 2023 GHG and Carbon Footprint reports have been published at https://hitit.com/investor-relations/sustainability 2024 1st QUARTE
Slide 21: Appendix
Appendix 2024 1st QUARTER Organizational The Crane Use of IPO Shareholder Structure and Family Proceeds Structure Current Values 21
Slide 22: Shareholder Structure
Shareholder As of March 31, 2024 Structure 2024 1st QUARTER %36,82 %23,19 %4,71 %4,34 %4,34 %26,596 Pegasus Hava Fatma Nur Dilek Hakan Özkan Free Float Taşımacılığı Gökman Ovacık Ünlü Dülger A.Ş. 22
Slide 23: Organizational Structure and Current Values
Organizational Structure and Current Values General Management Infrastructure Financial Product Transportation Sales & Affairs & Human Technology Deliver & Operation Strategy Solutions Marketing Purchasing Resources 2024 1st QUARTER Total Number of Employees* Gender Education 2024 Q1 436 17% Female
Slide 24: High Employee Seniority and Satisfaction
High Employee Seniority Seniority and retention of employees above the industry average and Satisfaction Senior IT Staff According to 2024 LinkedIn data, while the average seniority in the top 10 software companies in Turkey is 2,9 years, this figure is 4.9 years for Hitit employees 2024 1st QUARTER
Slide 25: Crane Solutions
We provide turn-key solutions for every Crane Solutions step of the way in air travel. Reservations and Passenger Services (“PSS”) A series of mission-critical systems used by airlines for reservations, ticketing, check-in, internet and mobile sales, departure control, loyalty programs and customer
Slide 26: Use of IPO Proceeds
Use of IPO Proceeds Overseas investments 10% 2024 1st QUARTER Launching new 35% Development of software & business units 25% infrastructure of products and solutions suitable for different markets 30% Infrastructure, development & 26 improvements for the transition to cloud architecture
Slide 27: Thank You
THANK YOU Reşitpaşa Mah. Katar Cad. No: 4/1 ARI Teknokent 2 İç Kapı No: 601 34469 Maslak, İstanbul, Türkiye
Hitit Bilgisayar Hizmetleri A.Ş. — Q1 2024 Earnings Presentation on 6ix