Eezy Oyj · OMXHEX:EEZY
Eezy Oyj — Q4 2022 Earnings Presentation
22 slides from Eezy Oyj's earnings presentation, Feb 16, 2023
Slide 1: Financial statements bulletin Q4/2022
Financial statements bulletin Q4/2022 Pasi Papunen, Hannu Nyman
Slide 2: Our social significance is growing
Our social significance is growing 95 % 32 000 3 000 600 recruitments of staffing employees staffed employees staffed immigrants from abroad recommend us* 20 000 persons 900 190 000 attended in organization 320 direct searches answers in personnel leadership or change development surveys management
Slide 3: Strong focus on building the future and improving profitability
Strong focus on building the future and improving profitability Our revenue grew by 22% to 248M euros in 2022 • We reached 3% growth in Q4 despite the weakening economic conditions and decreasing consumer confidence • Our main business, staffing services, is supported by the lack of suitable labour
Slide 4: 2022 highlights
2022 highlights Acquisitions in line with our strategy • Market leader in the personnel services in pharmacy sector, Farenta • Finland’s first company culture design office Leidenschaft • Siqni researches and know what is meaningful in working life Projects to improve our customer orientation and ef
Slide 5: Growth continued – room for improvement in the profitability
Growth continued – room for improvement in the profitability Q4 / 22 Q4 / 21 2022 2021 Revenue 62,2 M€ 60,5 M€ 247,6 M€ 203,3 M€ EBITDA 4,6 M€ 5,3 M€ 18,2 M€ 19,5 M€ EBITDA- margin 7,5 % 8,7 % 7,4 % 9,6 % EBIT 2,7 M€ 3,2 M€ 10,0 M€ 11,8 M€ EBIT Margin 4,3 % 5,2 % 4,0 % 5,8 % 16.2.2023 Eezy Oyj
Slide 6: Weakening economic situation is reflected in Staffing services
Weakening economic situation is reflected in Staffing services Staffing Franchise fees Staffing Franchise fees services Q4/22 Q4/22 services 2022 2022 52,2 M€ 1,3 M€ 212,7 M€ 6,3 M€ Change Change Change Change +2 % -33 % +19 % -11 % • Staffing service market according to The Private Employment Agenc
Slide 7: Professional services is growing in line with our strategy
Professional services is growing in line with our strategy Light Light Professional Professional entrepreneurs entrepreneurs services Q4/22 services 2022 Q4/22 2022 8,0 M€ 0,7 M€ 26,1 M€ 2,5 M€ Change Change Change Change +27% -3% +66% +2% • Significant growth in the Professional services (Eezy Flow
Slide 8: Financial information Q4/2022
Financial information Q4/2022 8 8.11.2022 Eezy Oyj 2022
Slide 9: Key figures
Revenue Q1/2020-Q4/2022, M€ Key figures 80 60 40 10-12/ 10-12/ Million euro 2022 2021 Change 2022 2021 Change 20 Revenue 62.2 60.5 3% 247.6 203.3 22% 0 EBITDA 4.6 5.3 -12% 18.2 19.5 -6% Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 EBITDA % 7.5 % 8.7 % 7.4 % 9.6 % EBIT Q1/2
Slide 10: Income statement
Income statement EUR thousand 10-12/2022 10-12/2021 2022 2021 Revenue 62 234 60 455 247 596 203 328 • Exceptionally high sick-leaves impact on profit -1.6 M€ in Q4 (-1.2) and in Other operating income 82 93 347 3 070 1-12/22 approx. -6.0 M€ (-3.3 M€) Share of result of equity 15 - 7 - accounted inve
Slide 11: Quarterly development 2020-2022
Quartely development 2020-2022 • Q4/2022 revenue grew 3% compared to Q4/2021 • Growth in whole 2022 was 22% • Negative profit impact from sick-leaves in Q4/2022 is approx -1.6 million euro. (approx. -1.2 M€ in Q4/21) • Q4/2022 included approx. 0.7 M€ non-recurring costs, and approx. 1.0 M€ in whole
Slide 12: Cash flow supports growth goals
Cash flow supports growth goals • EBITDA has been clearly positive in each quarter • Operational free cash flow was +9.2 M€ in Q4/2022 and +13.9 M€ in Q1-Q4/2022 • Investments into growth (acquisitions, IT investments) have been 9.3 M€ • Depreciation is somewhat over 8 M€ annually, approx 2 M€ quart
Slide 13: Balance sheet
Balance sheet 1000 euro 31.12.2022 31.12.2021 ASSETS Goodwill 141 654 134 054 Goodwill and intangible assets totalled Intangible assets 28 284 28 314 approximately EUR 170 million Tangible assets 5 680 5 095 Long-term receivables and investments 1 627 1 593 Non-current assets 177 245 169 056 Current
Slide 14: Balance sheet – key figures
Balance sheet – key figures 12/2022 12/2021 Net debt 52 466 48 702 Net debt excluding IFRS 16 47 307 44 200 Net debt/Adjusted EBITDA 2,9 x 2,4 x Gearing. per cent 46,4 % 44,6 % Equity ratio. per cent 52,2 % 52,8 % Equity per share 4,51 4,36 EUR 10 million overdraft limit unused on 31 December 2022.
Slide 15: Annual General Meeting
Annual General Meeting • The Annual General Meeting is planned to be held on 13.4.2023 in Helsinki • Invitation to the meeting will be published later • The Board’s dividend proposal is 0,15 eur/share: • 0,10 eur in April • 0,05 eur in October 0,40 0,38 0,35 0,316* 0,31 0,30 0,29 0,25 0,25 0,20 0,23
Slide 16: Towards 2023
Towards 2023 16 16.2.2023 Eezy Oyj 2023
Slide 17: We continue to execute our strategy
We continue to execute our strategy Winning Most wanted talent Successful Significance in the organisation pool customers society Development of our Diverse ways of Flexibility and knowledge Partly and hardly organisation and employment from staff employable to become operating models part of the la
Slide 18: Strategy 2025 progressing, profitability prioritised
Strategy 2025 progressing, profitability prioritised Drivers of revenue growth Improving profitability Organic growth Revenue scaling • H1 significant growth, decelerating towards end of • Increased sick leaves stressed profitability year COVID-19 recovery Higher-margin services • HoReCa and other s
Slide 19: 2023 priorities
2023 priorities • Focus from growth to profitability • Developing scalable businesses • Strong focus on sales and customer relationships • From brand awareness building to sales generation focused marketing • Increase efficiency by centralized business services and digitalization • Developing Eezy's
Slide 20: Our strengths in times of uncertainty
Our strengths in times of uncertainty Vahvuutemme epävarmoina aikoina Customers find Automaatio-, Safe and Multiple-placed Market growth is flexible koneoppimis- reliableja pricing protects driven by major workforce synergiahankkeita employer to the against wage trends Työvoiman increasingly käynnis
Slide 21: We focus on profitability
We focus on profitability • There are several uncertainties in the market that have an effect on our customers’ demand • Despite of the uncertainties, labour shortage is a fact in many sectors Eezy expects revenue to be approx. EUR 250 million and EBIT-% to grow in 2023. 16.2.2023 Eezy Oyj
Slide 22: Thank you!
Thank you! www.eezy.fi