Huddlestock Fintech AS · OSL:HUDL
Huddlestock Fintech AS — H1 2021 Earnings Presentation
30 slides from Huddlestock Fintech AS's earnings presentation, Aug 26, 2021
Slide 1: Presentation of H1 2021 results
Presentation of H1 2021 results Stavanger, 26 August 2021 Democratizing Wealth Management 1
Slide 2: Disclaimer re forward looking statements
Disclaimer re forward looking statements Disclaimer re forward looking statements This presentation speaks only as of their date, and the views expressed are subject to change based on a number of factors, including, without limitation, macroeconomic and equity market conditions, investor attitude a
Slide 3: Agenda
Agenda 1 Quarterly update 2 Financials 3 Key priorities for 2021 4 Q&A 5 Annexes 3
Slide 4: 1. H1 Update
1. H1 Update John E. Skajem, Group CEO Petter Midtsian, CEO Sweden 4
Slide 5: Huddlestock Fintech – Our value add
Huddlestock Fintech – Our value add Connecting wealth managers, banks, treasury functions to individual investors, Value creation for Wealth Managers in a unique cost-efficient and compliant cloud-based platform. Customer Acquisition • Bedrock and Apex are fully integrated and flexible wealth tech p
Slide 6: Huddlestock Fintech – Key value drivers
Huddlestock Fintech – Key value drivers Huddlestock Technology Visigon Bedrock – a middleware Visigon – expert consultancy for APEX – a fully integrated connecting retail investors strategic planning, pre- and post- wealth tech service offer. to capital markets implementation support services. AUM b
Slide 7: H1 update
H1 update H1 – Big leaps despite hurdles posed by ongoing health pandemic. • BNP live as a global liquidity provider in our ecosystem; Partnership progressing in line with expectations. • New client acquisitions: • DonauCapital, Pecunia, Tradegate, Baader Bank. Q2 – a transformational quarter. • Acq
Slide 8: H1 revenues (H1 21 vs 2020 and 2019)
H1 revenues (H1 21 vs 2020 and 2019) H1 2021 Group pro-forma H1 2021 revenues vs 2019-2020 (NOKm) (NOKm) • Group Revenues NOK 3.0m for H1 (pro- Huddlestock Visigon forma Group Revenues of NOK 23.8m) (Visigon consolidated from the close of the transaction on June 11th, 2021) 6.0 • Technology impacted
Slide 9: Key figures H1 2021
Key figures H1 2021 Revenues EBITDA (adj.) Net profit (adj.) 3.0m -2.2m -3.4m (pro-forma 23.8m) NOK NOK NOK 9
Slide 10: Huddlestock Technology: H1 revenues
Huddlestock Technology: H1 revenues H1 – Global health pandemic a significant hurdle for Huddlestock Technology. Huddlestock H1 2021 revenues vs 2019 and 2020 (NOKm) • Ongoing health pandemic caused significant delays to implementation of contracts signed year-to-date. 0.7 0.6 • Key markets affected
Slide 11: Huddlestock Technology: Indicative timelines
Huddlestock Technology: Indicative timelines Indicative timeline Technology Name Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Comments Ecosystem partner BNP x Live Ecosystem partner Baader x x Ecosystem partner TradeGate x x Ecosystem partner DonauCapital x x Aledius x x AVL x x Large European Fintech x
Slide 12: Huddlestock Technology: H1 revenues and outlook
Huddlestock Technology: H1 revenues and outlook Germany. • Slowdown in testing, implementation and customization phases of contracts signed H1; • Germany in lockdown since January 6th 2021; easing announced June 1st 2021. • Signed six client contracts in H1, of which two new contracts in Q2 (AVL, Al
Slide 13: Visigon: H1 revenues, EBITDA and outlook
Visigon: H1 revenues, EBITDA and outlook Visigon revenues H1 (NOKm) Solid revenue and EBITDA contribution from Visigon in H1. 25 • Visigon’s revenues NOK 23.2m for H1 20 • Strong relationships with historic clients; large Nordic 15 banking groups. 10 • 2 new clients onboarded in H1 2021 5 0 After Q2
Slide 14: 2. Financials
2. Financials John E. Skajem, Group CEO 14
Slide 15: H1 EBITDA (H1 vs 2020 and 2019)
H1 EBITDA (H1 vs 2020 and 2019) H1 2021 EBITDA vs 2020 and 2019 (NOKm) H1 2021 adj. EBITDA (NOKm) 0 0 • Group EBITDA NOK -3.7m for H1 (Visigon consolidated from the close of the transaction on June 11th, 2021) -1 -2.2 • One-off, non-recurring costs related to -2 the acquisition of Visigon NOK 1.5m •
Slide 16: H1 Net Income (H1 vs 2020 and 2019)
H1 Net Income (H1 vs 2020 and 2019) H1 Net Income vs 2020 and 2019 (NOKm) H1 adj. Net Income (NOKm) Huddlestock Visigon • Group Net Income NOK -4.9m for H1 (Visigon consolidated from the close of the transaction on June 11th, 2021) 0 0 • One-off, non-recurring costs related to the acquisition of Vis
Slide 17: Adjusted pro-forma figures for 1H (unaudited)
Adjusted pro-forma figures for 1H (unaudited) Consolidated income statement (in NOK) 1H21 1H21 Pro-forma Operating income Other operating income 3,024,974 23,846,360 Total operating income 3,024,974 23,846,360 Operating expenses Cost of materials/subcontractors 615,891 5,931,999 Personnel costs 3,52
Slide 18: Targets
Targets Old targets 2021 New targets 2021 Long term targets (2024) Revenues 51 M Revenues 41 M Revenues 200 M Technology contracts: EBITDA 5.3 M EBITDA 1M 1-2 Apex, 4-6 Bedrock (Average growth over the next 4 years) 18
Slide 19: 3. Key priorities 2021
3. Key priorities 2021 John E. Skajem, Group CEO 19
Slide 20: Key priorities for 2021
Key priorities for 2021 Integrate the Visigon team into (the) Huddlestock (vision); The acquisition of Visigon is a • Streamline operations and deliver on synergies from acquisition. landmark deal for Huddlestock, • Create a Nordic white label solution applying Bedrock. and will strengthen our produ
Slide 21: Q&A
Q&A Best Fintech IPO Nordics 2020 21
Slide 22: Annexes
Annexes 22
Slide 23: Income Statement H1 2021
Income Statement H1 2021 Consolidated income statement (in NOK) Note 1H21 2020 2019 Consolidated income statement (in NOK) 1H21 1H21 Pro-forma Operating income Operating income Other operating income 2 3,024,974 225,000 0 Other operating income 3,024,974 23,846,360 Total operating income 3,024,974 2
Slide 24: Balance sheet key items
Balance sheet key items NOK 2020 1Q21 1H2021** Total Assets 71,213,457 70,796,366 168,049,162 Research and development 19,308,253 19,308,253 21,072,380 Licenses 45,952,204 45,952,204 45,952,204 Cash and cash equivalents 2,958,000 2,175,978 10,273,032 Equity 67,173,371 64,732,679 118,138,349 Gross de
Slide 25: Change in exchange rates
Change in exchange rates Average exchange rates 2020 2021 Q1 Q2 Q3 Q4 Q1 Q2 Sweden SEK/NOK 0.9796 1.0065 1.0144 1.0227 1.0135 1.0040 Denmark DKK/NOK 1.3998 1.4382 1.4365 1.4386 1.3788 1.3678 Malaysia MYR/NOK 2.2679 2.2912 2.2512 2.2374 2.0929 2.0603 Euro EUR/NOK 10.4590 10.7358 10.7133 10.7236 10.25
Slide 26: Ownership (at 23 August 2021)
Ownership (at 23 August 2021) 26
Slide 27: Global presence
Global presence Democratizing Wealth Globally 27
Slide 28: [email protected]
[email protected] Accompanying you in the Nordics, across Europe and Asia.
Slide 29: Full disclaimer
Full disclaimer Full disclaimer This presentation has been prepared by Huddlestock Fintech AS (the Huddlestock) solely for the use at the presentations to investors held in connection with the presentation of the past results of the certain period and anticipated future performance. This presentatio
Slide 30: Full disclaimer continued
Full disclaimer Full disclaimer continued Any statement, estimate or projections included in this presentation (or upon which any of the conclusion contained herein are based) with respect to anticipated future performance (including, without limitation, any statement, estimate or projection with re
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