Rasan Information Technology Co. · TADAWUL:8313
Rasan Information Technology — Q1 2025 Earnings Presentation
22 slides from Rasan Information Technology's earnings presentation, May 6, 2025
Slide 1: Rasan's Earnings Call Q1 2025
RASAN’S EARNINGS CALL Q1 2025 May 6th, 2025
Slide 2: Disclaimer
DISCLAIMER This presentation contains certain statements that are forward-looking statements. They appear in a number of places throughout this presentation and include statements regarding the intentions, beliefs and/or current expectations of Rasan LLC (the “Company”) and its subsidiaries (togethe
Slide 3: Agenda
01 | Opening remarks 02 | Business Update AGENDA 03 | Financial performance Q1 2025 04 | Q&A 3
Slide 4: Opening Remarks
OPENING REMARKS
Slide 5: Q1 2025: Strong Business Performance
Q1 2025: STRONG BUSINESS PERFORMANCE Strong Revenue growth Substantial Adj. EBITDA Evolved our products to expansion YoY increase performance • 3 new insurance products ready to +80% Y-o-Y +198% Y-o-Y launch • Strengthened motor proposition SAR 41 M – Adj. EBITDA Margin of SAR 121 M • Health insur
Slide 6: Q1 2025: Financial Highlights
Q1 2025: FINANCIAL HIGHLIGHTS Revenue Volumes GWP SAR 121 M +16% Motor Retail +33% Motor Leasing SAR 1.7 B 80% Y-o-Y +51% 19% Y-o-Y Health Gross Margin Adjusted Net Profit Operating Cashflow 71% SAR 37 M SAR 84M +11 p.p. Y-o-Y +286% Y-o-Y +320% Y-o-Y ORGANIC GROWTH AND ENHANCING PROFITABILITY 1. Ad
Slide 7: Business Update
BUSINESS UPDATE
Slide 8: Progress Achieved in Q1 2025: Strategy Pillars
PROGRESS ACHIEVED IN Q1 2025 Protect Enhance Grow Innovate Diversify | Introduced surplus | Launched integrated | Continued | Developed end-to- | Continue mechanism for motor solutions to boost improvements in end distribution development of customers higher classes sales conversion rate of solution
Slide 9: Positive Growth Across All Lines
POSITIVE GROWTH ACROSS ALL LINES % revenue growth YoY +50% +145% +77% +74% Motor Retail Motor Leasing Health New Products1 80% cumulative revenue growth YoY 1. New products: Medical Malpractice, Travel, Domestic Helper – Contract and Health, VAS 9
Slide 10: Continue Strengthening the Position in Motor
CONTINUE STRENGTHENING THE POSITION IN MOTOR Motor Retail Motor Leasing +3p.p. +71% +8% YoY YoY YoY Renewal Comprehensive TPL Surplus New end-user rate GWP GWP activation engagement model ▪ Renewal performance ▪ Upselling solution ▪ Improved renewals of TPL ▪ Introduced surplus ▪ IA published a draf
Slide 11: Enhanced Health Insurance Proposition for SME and Corporate
ENHANCED HEALTH INSURANCE PROPOSITION FOR SME AND CORPORATE SME HEALTH CORPORATE HEALTH ENHANCED DECLARATIVE JOURNEY PILOT PHASE IN PROGRESS 1 Continue enhancements of customer experience across the journey Revamped Go To Market Initiated client engagement Launched solution to enhance the declarativ
Slide 12: New Products Are Set to Launch Soon
4 NEW PRODUCTS ARE SET TO LAUNCH SOON Motor Health Other General Life Motor Retail 2017 Health SME 2019 Medical Malpractice 2024 Mandatory TPL and Comprehensive Health insurance for SME employees Mandatory professional liability insurance for individuals and their dependents insurance for doctors Mo
Slide 13: Keep Innovating Across the Value Chain
KEEP INNOVATING ACROSS THE VALUE CHAIN UNDERWRITING PRODUCT DEVELOPMENT DISTRIBUTION AFTER SALES Support & Exploring new Market leader Expanding Consulting opportunities ✓ Offer analytical tools to ✓ Product bundling (e.g. Health ✓ Leading online aggregator in ✓ Loyalty program for end insurance com
Slide 14: Expanding the Financial Services Offer
EXPANDING THE FINANCIAL SERVICES OFFER Auto leasing financing Real Estate financing Personal financing Finalized business financing Auto financing aggregation Exploring opportunity to Initial focus on developing Exploring opportunity to offer for B2B2C (Dealerships) and develop a marketplace for Con
Slide 15: Financial Performance
FINANCIAL PERFORMANCE
Slide 16: Q1 2025 Summary P&L: Strong Performance Across the Board
Q1 2025 SUMMARY P&L: STRONG PERFORMANCE ACROSS THE BOARD Q1 2024 Q1 2025 YoY Var Revenue 67 121 80.0% Gross Profit 40 86 114% Gross Profit Margin 60% 71% 11p.p. Opex 30 56 86% Adj. EBITDA1 14 41 198% Adj. EBITDA Margin 20% 34% 14p.p. Adj. Net Profit 1 9 37 286% 1. Adjusted EBITDA and Net Profit excl
Slide 17: Solid Growth and Consistent Product Diversification
SOLID GROWTH AND CONSISTENT PRODUCT DIVERSIFICATION Revenue SAR MM ✓ Growth in Q1 25 compared to Q4 24 +80% in spite of strong seasonality 121 +2% 67 ✓ Q1 2025 Revenue increased by 80% (SAR 54m) compared to Q1 24, 118 121 primarily attributed to: | Motor Retail Revenue: + SAR 20M Q4 2024 Q1 2025 Q1
Slide 18: Gross Margin Constantly Improving Q-o-Q and Y-o-Y
GROSS MARGIN CONSTANTLY IMPROVING Q-O-Q AND Y-O-Y Gross margin bridge Q3 2024 – Q4 2024 Gross margin bridge Q4 2024 – Q1 2025 SAR MM 79% 56% 69% 71% Nonrecurring 93 -1 12 12 86 2 0 3 6 67 9 81 GP Q3 24 Motor Mix Direct personnel & Other GP Q4 24 Motor Mix Direct personnel & Other GP Q1 25 other dire
Slide 19: Solid and Attractive Gross Profit as a Result of an Efficient Cost Base
SOLID AND ATTRACTIVE GROSS PROFIT AS A RESULT OF AN EFFICIENT COST BASE Gross Profit and Margin ✓ Q1 2025 Gross Profit increased by SAR MM, % 116% compared to Q1 2024 79% | Margin reached 71% due to improved absorption of cost of 69% 71% 60% 71% sales, driven by scalability ✓ Q1 25 Gross Profit impr
Slide 20: Resilient and Growing Adj. EBITDA
RESILIENT AND GROWING ADJ. EBITDA Adj. EBITDA1 evolution and Margin SAR MM, % 39% ✓ Growing Adj. EBITDA in Q1 25 vs. Q1 24 driven by 36% 34% 20% 34% | Increase in Revenue (+ SAR 54M) -5% +198% resulting in healthy absorption of Nonrecurring 46 fixed operating costs 41 41 3 | Economies of scale 7 7 4
Slide 21: High Conversion Rate from Adj. EBITDA to Adj. Net Profit
HIGH CONVERSION RATE FROM ADJ. EBITDA TO ADJ. NET PROFIT Adj. Net Profit and Margin SAR MM, % ✓ Q1 25 Adj. Net Profit increased at a higher rate than Revenue (+286% 34% 31% 14% 31% vs 80% revenue increase rate) -8.0% +286% 40 37 37 ✓ High conversion rate of Adj. 7 7 EBITDA to Adj. Net Profit due to:
Slide 22: Thank You
Thank You ﺷﻜﺮﺍﹰ
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