Gigas Hosting SA · BME:GIGA
Gigas Hosting SA — FY2023 Earnings Presentation
16 slides from Gigas Hosting SA's earnings presentation, Apr 17, 2024
Slide 1: Full Year 2023 Results Presentation for Investors
Diego Cabezudo Javier Cañete CEO CFO Full Year 2023 Results Presentation for Investors APRIL 2024
Slide 2: Disclaimer
gigas Disclaimer This document and the conference-call webcast (including the Q&A session) may contain forward-looking statements and information (hereinafter, the “Information”) relating to GIGAS HOSTING S.A. or GIGAS GROUP (hereinafter “Gigas”, the “Company“ or the “Gigas Group"). This Information
Slide 3: FY 2023 Key Highlights
FY 2023 Key Highlights FY23 net revenues grew 9.9% YoY up to €67.7M helped by corporate transactions and organic growth Adj. EBITDA €16.7M, 1.2% higher than the €16.5M of 2022 albeit 3.3% lower than the €17.3M budgeted for the year Focus on organic growth and innovative services. Alterlinks acquired
Slide 4: Revenues 2023
Revenues 2023 About Gigas • Net revenues reached €67.7 million in 2023, 9.9% higher than in 2022 (€61.6M). Growth driven mainly by TPartner acquisition (Sept 2022) consolidating the full year and by organic growth, specially in the cloud segment (24.7% growth YoY) and Latam • Very good organic growt
Slide 5: Revenue Split, Customers and ARPU 2023
About Revenue Split, Customers and Gigas ARPU 2023 • Telecom represented 61.2% of net revenues, followed by Cloud, IT and Cybersecurity with 38.8%. Cloud, IT & Cyber has increased 5.5pp vs previous year • In terms of geographies, the Iberian Peninsula contributes with 88.2% of total net revenues (Po
Slide 6: Gross Margin and EBITDA 2023
About Gigas Gross Margin and EBITDA 2023 • Gross Margin of 60.3% during 2023, a bit below the 61.9% achieved in 2022, due to extraordinary savings obtained that year related to wholesale contracts negotiations, but better than budgeted (58.6%) • Adjusted EBITDA reached €16.70M (before long term remu
Slide 7: 2023 P&L Compared to 2022 and Budget
About 2023 P&L Compared to 2022 and Gigas Budget GIGAS CONSOLIDATED RESULTS REAL REAL BUDGET 2023 Figures in euros FY 23 % Var FY 22 % Var FY 23B Net Revenues 67,676,885 9.9% 61,555,737 -6.8% 72,640,178 Cloud, IT & Cybersecurity Services 25,528,283 24.7% 20,474,348 -11.3% 28,795,161 Telecommunicatio
Slide 8: Other Financials
Other Financials • Amortizations grew to €16.05M in 2023 (€13.56M in 2022) mostly related to Customer Relations. Goodwill is not amortized under IFRS criteria • Financial expenses grew to €5.36M in 2023 (€2.80M in 2022), due to IRUs (Indefeasible Rights of Use, telecom infrastructure long term renta
Slide 9: 2023 Balance Sheet
2023 Balance Sheet • CAPEX in intangible assets and property, plant and equipment, excluding the capitalisation of leases under IFRS 16 and in-house labour, of €6.5M (2022: €9.9M), equivalent to 9.7% of revenue (2022: 16.1%). Growth CAPEX linked to investments in new customers, R&D Projects and clou
Slide 10: 2023 Balance Sheet
2023 Balance Sheet ASSETS 31/12/2023 31/12/2022 EQUITY AND LIABILITIES 31/12/2023 31/12/2022 NON-CURRENT ASSETS 133,137,045 131,119,649 EQUITY 38,703,571 43,344,918 Intangible assets 90,875,474 95,398,511 CAPITAL AND RESERVES Research and development 504,731 442,945 Capital 232,887 232,887 Patents,
Slide 11: CAPEX 2023
CAPEX 2023 • CAPEX reached €6.54M in 2023, (€9.9M in 2022) significantly below last year due to CAPEX optimization and end of strong investments in telco and OSS during 2021-22 • Budget for the year was €8.45M (€10.9M in 2022) and therefore investment was €1.91M lower than budgeted and represented a
Slide 12: 2023 Cash Flow
2023 Cash Flow Figures in Euros FY 23 EARNING BEFORE TAXES (6,188,300) • Cashflow from Operations reached Result Adjustments 26,394,281 Changes in accruals and bad debt 5,890,980 €9.45M in spite of working capital D&A 16,052,180 consumption of €10.5M, due to payments Other non-cash items (R&D capita
Slide 13: Debt Evolution as of 31st DEC 2023
Debt Evolution as of 31st DEC 2023 • Gross Debt at 31st DEC 2023 reached €57.1M • Cash at hand amounted €19.30M at year end, resulting in a Net Financial Debt position of €37.84M, or 2.27x EBITDA 2023 • Gross debt does not include convertible bonds (€2.5M) or long term rental agreements liabilities
Slide 14: 2024 Guidance
2024 Guidance Guidance for 2024 • In line with current trends in corporate governance and a focus on the medium and long term, the Company has decided to cease publishing detailed quarterly results and to publish results twice a year, to coincide with the half-yearly results (with a limited review b
Slide 15: Share Evolution
Share Evolution • Share ended at €6.92 in 2023 and it was influenced by high market volatility in the first months of 2024 • Share Price closed at €7.70 on 15th of April, representing a YTD growth of 11.3%, and 23.2% growth since last capital increase in Q4’20 (€6.25) • At current prices, market cap
Slide 16: Investor relations contact
Investor relations contact: [email protected] [email protected] —— gigas