Adesso Se · XETR:ADN1
Adesso — Investor Presentation (March 2025)
39 slides from Adesso's investor presentation, March 2025
Slide 1: adesso SE | Company Presentation
adesso SE | Company Presentation 03/2025
Slide 2: Partner in Digital Transformation
PARTNER IN DIGITAL TRANSFORMATION adesso optimises the core business processes of companies by IT-Consulting, developing individual software and industry solutions. 03/2025 | 2
Slide 3: Profitable Growth
PROFITABLE GROWTH Constantly profitable €1.30 €1.35-1.45 billion billion Group sales 2024 Expected sales 2025 More than 10,300 12.4 % Employees Return on Equity (5Y average) adesso Group | as of 31 December 2024 03/2025 | 3
Slide 4: Top Employer 2025
TOP EMPLOYER 2025 Continuously creating an environment in which everyone can develop resonates with our employees. > Low bureaucracy > Entrepreneurial spirit > Common sense management > Over 75,000 applications at adesso SE, Germany > 84 % increase in applications* > Churn rate of ~8 % way below ind
Slide 5: Our Portfolio
OUR PORTFOLIO >>> business IT Services (about 90 % of Sales) Software IT Business Consulting IT Consulting Development Management Strategy > Process Process > Architecture Architecture > Application Application > Operation IT Solutions (about 10 % of Sales) Mobile Industry Solutions Solutions techno
Slide 6: Equity Story
EQUITY STORY adesso will expand to adesso has an adesso aims to have a adesso pays out a form one of the ambitious growth sustainable operating dividend and aims to leading integrated IT strategy and aims to margin for profitable raise it continuously companies for sector- grow by at least twice gro
Slide 7: Growth Model
GROWTH MODEL Tried-and-tested model for expanding sector-wide presence CONSULTING DEVELOPMENT SOLUTIONS INSURANCE Transfer of model to new sectors: BANKS > Start a new core sector every 2-3 years HEALTH > Latest additions: Retail, Utilities PUPLIC AUTHORITIES AUTOMOTIVE MANUFACTURING INDUSTRY Region
Slide 8: Sustained Sales Growth of ~24% p.a., Operating Profit Up ~26% p.a.
SUSTAINED SALES GROWTH OF ~24 % P.A. OPERATING PROFIT UP ~26 % P.A. 03/2025 | 8
Slide 9: Organic Growth
ORGANIC GROWTH a Organic Growth vs. Acquisition (in EUR m) Organic Growth vs. Acquisition (in %) 1,250 ® Acquisition 50 ® Acquisition I @ Organic @ Organic Previous year 1,000 _ 40 750 | 30 500 EnESE 20 7 250 EERE 10 a - = ™ = t=” 0 0 BS! DO: gO! cS: aM 2D: x 99: xO: AN 6B 6D 29 cas 2: ei ck BH QD D
Slide 10: Geographic Expansion | Growing (Inter)nationally
GEOGRAPHIC EXPANSION | GROWING (INTER)NATIONALLY GERMANY BULGARIA On the way to becoming a AUSTRIA FINLAND SWITZERLAND HUNGARY leading IT service provider INDIA in Europe. ITALY NETHERLANDS ROMANIA SAUDI ARABIA > 2,008 employees SPAIN outside of Germany SWEDEN TURKEY by the end of Q4 2024 UNITED ARA
Slide 11: Business Model: Innovation, Growth, Margin
BUSINESS MODEL >> >> >> EPS / INNOVATION GROWTH GROWTH MARGIN DIVIDEND __________________________ __________________________ __________________________ Text Portfolio Expansion Grow each sector Utilisation New business models Enter new sectors Daily rates Product business Project efficiency Internat
Slide 12: adesso Insurance Solutions
ADESSO INSURANCE SOLUTIONS IN|SURE ECOSPHERE > Business Driver for growth and visibility in the insurance market > Product business catalysing further IT services > Licences > Building up a ramp of maintenance contracts > International Business in later stage 03/2025 | 12
Slide 13: International Expansion on Track
INTERNATIONAL EXPANSION ON TRACK: ADESSO GOES SWEDEN, ROMANIA, ITALY, INDIA, UK AND SAUDI ARABIA Recent progression of adesso’s geographic expansion > Acquisition of Purple Scout AB in Sweden (Malmö, Gothenburg, Borås, Växjö) to support footprint of adesso to the Nordics in 04/2022 > Expansion of Sm
Slide 14: Recent M&A Development to Add Value and Foster Growth
RECENT M&A DEVELOPMENT TO ADD VALUE AND FOSTER GROWTH Acquisition Business Sales Employees Date arteno Consulting (merged SAP Consulting ~ EUR 2 m ~ 30 02/2024 onto adesso Turkey) Palmer AG (to be merged SAP Utilities EUR 2.5 m ~ 20 08/2023 onto adesso orange) Trieste Digital Solutions Private Ltd S
Slide 15: Update FY 2024
UPDATE FY 2024 smart urhAey
Slide 16: Strong Organic Growth
STRONG ORGANIC GROWTH > Sales growth split • Almost entirely by organic growth > Headcount • 12 % growth in average FTE • 8 % growth in YoY FTE 03/2025 | 16
Slide 17: Sales Split FY 2024
SALES SPLIT FY 2024 Sales by industry in EUR m FY 2024 Δ yoy Recap 2023 Insurance 172.6 +5% + 21 % Banking 150.8 +6% + 20 % Health 136.7 + 44 % + 20 % Public 207.8 + 12 % + 22 % Automotive 55.5 +6% +4% Manufacturing 118.7 +5% + 17 % Retail 81.7 + 10 % + 61 % Utilities 125.2 + 41 % + 74 % Cross Indus
Slide 18: Sales Split FY 2024 (2)
SALES SPLIT FY 2024 (2) Sales by region in EUR m FY 2024 Δ yoy Recap 2023 Germany 1,073.0 + 15 % + 28 % Switzerland 127.5 +4% +9% Austria 30.8 + 20 % +8% Netherlands 14.2 +8% + 16 % Italy 14.1 + 19 % - Turkey 16.3 + 64 % + 24 % Other 20.9 -5% + 53 % 03/2025 | 18
Slide 19: Improved Earnings
IMPROVED EARNINGS Operating Earnings • Earnings grew overproportionately to Sales • Profitability slightly improved • Capacity utilisation improved in HY2 03/2025 | 19
Slide 20: EBITDA Margin Slightly Improved
EBITDA MARGIN SLIGHTLY IMPROVED Key Figures in EUR m FY 2024 FY 2023 Δ yoy Employees (FTE, avg.) 10,059 8,948 + 12 % Sales 1,297.0 1,135.9 + 14 % Gross Profit 1.111.6 973.3 + 14 % Personnel costs 888.9 773.2 + 15 % Other operating expenses 145.8 135.3 +8% EBITDA 98.3 80.0 + 23 % EBITDA-margin (%) 7.
Slide 21: Pretax-Earnings at +40%
PRETAX-EARNINGS AT +40% Key figures in EUR m FY 2024 FY 2023 Δ yoy EBITDA 98.3 80.0 + 23 % Depreciation plant & equipment - 59.9 - 48.3 + 24 % Depreciation ppa - 7.6 - 9.5 - 19 % Depreciation goodwill 0.0 0.0 - Income from investments - 1.9 - 1.2 Financial result - 11.9 - 8.9 - 34 % EBT 17.0 12.2 +
Slide 22: Financial KPIs: Net Working Capital Reduced by 8%
FINANCIAL KPIS: NET WORKING CAPITAL REDUCED BY – 8% Key figures in EUR m 31.12.2024 31.12.2023 Δ yoy Cash 89.7 100.8 - 11.1 Financial debt 136.2 149.1 - 12.9 Return on Net Working Net-Debt - 46.6 - 48.4 + 1.8 Capital (RONWC) = 18.9% Operating Cash-Flow 110.6 76.9 + 33.7 Net Working Capital 162.8 176
Slide 23: Cash Flow: Record FCF LTM Supported by Factoring
CASH FLOW: RECORD FCF LTM SUPPORTED BY FACTORING* Cash Flow in EUR m FY 2024 FY 2023 Δ yoy Operating Cash-Flow 110.6 76.9 + 44 % CAPEX - 29.1 - 34.3 + 15 % Lease repayments - 36.3 - 28.3 - 28 % Free Cash Flow 45.1 14.2 + 217 % FCF LTM per Share: 6.92 EUR/Share * Factoring 31.12.2024 at 57 m compared
Slide 24: Share Buyback 2024/25 Completed
SHARE BUYBACK 2024/25 COMPLETED > In October 2024, adesso‘s Executive Board had decided to carry out 11 October 2024 > adesso publishes statement to a Share Buyback program start a Share Buyback program > A total of 121,091 shares (1.9 % of company’s share capital) have been bought back from 17 Octo
Slide 25: Guidance 2025
GUIDANCE 2025 Guidance 2025 > Ongoing market demand in IT Services despite recessionary environment > Dividend proposal: increase to EUR 0.75 per share > Guidance 2025 expects improved margin due to reduced investments and higher utilisation Guidance Guidance IFRS in EUR m FY 2023 FY 2024 2024 2025
Slide 26: Many Thanks!
03/2025 MANY THANKS! adesso SE Michael Knopp Member of the Executive Board Adessoplatz 1 44269 Dortmund Germany T +49 231 7000-7000 www.adesso-group.de/en/
Slide 27: Appendix
APPENDIX
Slide 28: References
REFERENCES MENSCH Barmenia EINFACH. MENSCHLICH. Aye war BUNDESWEHR ELE =!" VERSICHERUNGSGRUPPE ? PKV Verband der Privaten Krankenversicherung x” Alte Leipziger ALH Gruppe BARMER Continentale —— EnBW andsafe > BayernLB Wir finanzieren Fortschritt. COMMERZBANK ¢) eon LB=BW AOK @) fe | Bessestunseme de
Slide 29: Key Figures (Quarters)
KEY FIGURES (QUARTERS) in EUR k Q1/2023 Q2/2023 Q3/2023 Q4/2023 Q1/2024 Q2/2024 Q3/2024 Q4/2024 Profit situation Sales revenues 276,242 270,054 287,367 302,240 317,111 313,958 330,230 335,693 domestic 224,522 221,251 235,450 249,338 262,056 260,584 274,256 276,151 foreign 51,720 48,803 51,917 52,902
Slide 30: Key Figures (FY)
KEY FIGURES (FY) in EUR k 2018 2019 2020 2021 2022 2023 2024 Profit situation Sales revenues 375,648 449,704 523,375 678,324 900,253 1,135,903 1,296,992 domestic 308,742 360,987 413,053 550,232 744,178 930,561 1,073,047 foreign 66,906 88,717 110,322 128,092 156,075 205,342 223,945 EBITDA 32,975 48,1
Slide 31: Shareholder Structure
SHAREHOLDER STRUCTURE 03/2025 | 31
Slide 32: The Share
THE SHARE > Market Cap: EUR 574.0 million as at year-end 2024 > Share price: EUR 88.00 as at year-end 2024 > Average Analyst Price Target: EUR 123.57 > Free Float: 47.8 % 03/2025 | 32
Slide 33: adesso Share, Basic Data
ADESSO SHARE, BASIC DATA ISIN Code DE000A0Z23Q5 WKN (national securities identification number) A0Z23Q Symbol / Code ADN1 Reuters Instrument Code ADNGk.DE Bloomberg Symbol ADN1:GR First day of trading 21 June 2000 Trading platforms Xetra, Tradegate Exchange Market Segment Prime Standard Number of Sh
Slide 34: Shareholdings
SHAREHOLDINGS adesso’s national companies or branch offices adesso SE Dortmund IT-SERVICES Austrla Vienna | 100% Bulgaria Sofia | 100 % India Cochin | 100 % Italy Milan | 100 % Netherlands Amsterdam | 100% Romania Bucharest | 100% Saudl Arabla Riyadh | 100% Spain Barcelona | 100 % Sweden Malmo | 100
Slide 35: Executive Board (1)
EXECUTIVE BOARD (1) Mark Lohweber CEO Mark Lohweber (born 1969) is a member of the Management Board and is responsible for the operational business in the Banking and Insurance sectors as well as international business, including nearshoring and offshoring. As a member of the Executive Board, he is
Slide 36: Executive Board (2)
EXECUTIVE BOARD (2) Michael Knopp Member of the Executive Board Michael Knopp (born 1966) has been a member of the Executive Board of adesso SE since 15 January 2025 and will gradually take over the responsibilities of Jörg Schroeder, who will leave the Executive Board on 30 April 2025. As a member
Slide 37: Supervisory Board
SUPERVISORY BOARD Six members experienced Prof. Dr. Volker Gruhn co-founder of adesso, professor for Software with high industry Chairman and Chairman of the Nomination Commitee Engineering knowledge Dr. Friedrich Wöbking e.g. former member of the executive board of Deputy Chairman Dresdner Bank and
Slide 38: Important Dates 2025
IMPORTANT DATES 2025 Date Event 2025-02-27 Roadshow Helsinki/Stockholm /w Berenberg 2025-03-27 Publication of the 2024 annual report, financial press / analyst conference 2025-05-12 Publication of the Quarterly Statement Q1 2025 2025-05-13 Spring Conference 2025, Frankfurt/Main 2025-06-03 Regular AS
Slide 39: Many Thanks!
03/2025 MANY THANKS! adesso SE Adessoplatz 1 44269 Dortmund Germany T +49 231 7000-7000 F +49 231 7000-1000 www.adesso.de/en www.adesso-group.de/en