Ard Grup Bilisim Teknolojileri As · BIST:ARDYZ
Ard Grup Bilisim Teknolojileri As — Q3 2024 Earnings Presentation
36 slides from Ard Grup Bilisim Teknolojileri As's earnings presentation, Mar 7, 2025
Slide 1: Investor Presentation 3Q 2024 Figures
1 INVESTOR PRESENTATION 3Q 2024 FIGURES 07.03.2025
Slide 2: Agenda
2 01 02 03 04 05 06 Headlines Summary Financials Investment Expectations Appendix Thesis Page 3 Page 8 Page 10 Sayfa 25 Page 27 Page 29
Slide 3: Key figures: net sales, EBITDA, net income
01.01.2023 - 30.06.2024 financial period Net Sales, m₺ EBITDA, m₺ Net Income, m₺ 3 1.342 Annually* %38 Growth Net Sales mTL 1.600,0 1.400,0 72% Gross Margin 73% 72% 1.000,0 900,0 76% EBITDA Margin 78% 76% 450,0 400,0 41% Net Margin 45% 40% 800,0 71% 350,0 35% 74% 1.200,0 700,0 70% 908 300,0 30% EBIT
Slide 4: 3Q 2024 Headlines
3Q 2024 HEADLINES Headlines | Summary | Financials | Investment Thesis | Expectations | Appendix 4 Capital Efficiency: 12% ROE including TAS-29 Effect* Expectation : We expect 1,1 bn TRY of EBITDA at the end of 2024 Subsidiary Acquisition: 51% Shares of Oxivo Grup Bilişim A.Ş. Acquired Company Estab
Slide 5: Partnership Structure
PARTNERSHIP STRUCTURE 5 Board of Directors Name and Surname Title Arda Ödemiş (ARD Grup Holding AŞ Adına) Chairman of the Board Deputy Chairman of the Board of Doğan Ödemiş Directors Gürkan Bilgin Board Member Ard Grup Holding Anonim Şirketi 25,13% Sabri Çağrı Çakır Board Member Nükhet Doğan Indepen
Slide 6: Subsidiaries
SUBSIDIARIES Headlines | Summary | Financials | Investment Thesis | Expectations | Appendix 6 SubsidiarIes Title Capital Company's Capital Share Business Overview Virtual Reality (“VR”) platforms, Artificial Intelligence (“AI”) algorithms, Big Data Processing (“Big Data”) are used in planning, execu
Slide 7: Agenda
7 01 02 03 04 05 06 Headlines Summary Financials Investment Expectations Appendix Thesis Page 3 Page 8 Page 10 Sayfa 25 Page 27 Page 29
Slide 8: Executive Summary
EXECUTIVE SUMMARY Headlines | Summary | Financials | Investment Thesis | Expectations | Appendix 8 Leverage The decline in the share of working capital with increasing sales between 2019 and 2021 indicates efficiency. However, with the increase in trade receivables in 2024/09, there was an increase
Slide 9: Agenda
9 01 02 03 04 05 06 Headlines Summary Financials Investment Expectations Appendix Thesis Page 3 Page 8 Page 10 Sayfa 25 Page 27 Page 29
Slide 10: Solid Performance
Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix 10 SOLID PERFORMANCE 2024/09 & 2023/09 PERIODICAL REVENUE 127,7% GROWTH 38,0% EBITDA * 23,6% GROWTH EBITDA* 67,7% MARGIN *Other Income / Expense from Operating Activities are included in EBITDA
Slide 11: 3Q24 Financials: Net Sales
11 3Q24 FINANCIALS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix 38% Real Growth in Sales in 2024/09 Period in Real Terms PERIODICAL FIGURES Net Sales (mTL) ➢ Net sales in the third quarter of 2024, including the TAS-29 1.600 effect, increased by 38% in real terms com
Slide 12: 3Q24 Financials: EBITDA and Net Income
12 3Q24 FINANCIALS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix Real Growth in Profitability Continued in 2024/09 EBITDA (mTL) PERIODICAL FIGURES Net Income (mTL) 67,7% 1.000 450 40,7% 900 75,6% 400 908,0 800 350 395,1 700 734,3 300 600 250 500 200 400 300 150 5,8% 2
Slide 13: EBITDA Bridge
13 3Q24 FINANCIALS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix Strong Growth Became the Main Parameter of Increase in EBITDA EBITDA Bridge (mTL) 369,7 ➢ While rising sales stand out in EBITDA growth, the increase in sales costs and operating expenses have been the p
Slide 14: Net Income Bridge
14 3Q24 FINANCIALS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix Steady Net Profit Growth Continues Net Income (mTL) 369,7 ➢ In addition to the increase in COGS and operating expenses, the increase in financial liabilities and financing costs, as well as the increasin
Slide 15: Working Capital to Sales Ratio
15 3Q24 FINANCIALS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix Working Capital to Sales Ratio Declined in 2024/09 Compared to 2023/12 Working Capital Working Capital 1.400 73,4% 80% 1.200 32 Working Capital Analysis 70% 88 1.000 60% mTL 2023/12 2024/09 Trade Receiva
Slide 16: Working Capital Bridge
16 3Q24 FINANCIALS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix Increase in Trade Receivables Became the Main Parameter for Increasing Working Capital WORKING CAPITAL BRIDGE (MTL) 1.135,7 ➢ In parallel with the increase in sales in the 2024/09 29,0 55,3 period, the i
Slide 17: Net Debt/EBITDA Ratio
17 3Q24 FINANCIALS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix Net Debt/EBITDA Ratio of 0,5x Means High Debt Capacity Net Cash Position Net Debt/EBITDA 700 0,5 Net Cash & Equity & Financial Leverage 0,5 0,5 600 618,7 TLm 2023/12 2024/09 0,4 Cash and Cash Equivalents
Slide 18: Foreign Exchange Position and Credit Maturity
18 3Q24 FINANCIALS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix Foreign Exchange Position Credit Maturity Breakdown 0 0,0% -5 -10,13 -0,2% -10 -0,4% -0,4% -26,28 -15 -0,6% 1-3 Mounth 3-12 Mounth 16% 63% -20 -0,8% -25 -1,0% Interest Accruals -30 -1,1% -1,2% 1% 1-2 Yea
Slide 19: Investments and Oxivo Acquisition
19 3Q24 FINANCIALS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix 51% of Oxivo Grup Bilişim A.Ş. was acquired for 42,5 million TL. Investments (mTL) 860 51,0% 50,0% 50,0% 840 6,7 49,0% 820 48,0% 800 837,9 47,0% 780 46,0% 45,0% 760 22,7 44,0% 44,0% 740 43,0% 750,8 720 4
Slide 20: ROE on Real Basis
20 3Q24 FINANCIALS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix 12% ROE in Real Basis* 2.440 ROE ➢ Return on equity is above the bond yield in real terms, indicating that capital is used efficiently. 2.420 2024/09 ➢ Low debt means that the Company has high Equity (TL
Slide 21: Financial Ratios
21 3Q24 FINANCIALS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix Financial Ratios Liquidity Ratios 2024/09 2023/12 Reference Current Ratio 1,69 2,55 1,0-1,5 Liquidity Ratios 1,67 2,52 0,8-1,0 Profitability Ratios (12MTrailing) 2024/09 2023/12 Reference Gross Margin 67
Slide 22: Financial Ratios: Debt
22 3Q24 FINANCIALS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix Financial Ratios Debt Ratios 2024/09 2023/12 Reference Total Debt/Total Assets 28,8% 24,7% <%40 Short-Term Fin. Debt/Equity 19,2% 15,6% <100% Coverage Ratio 5,3 13,0 >3 Net Debt/EBITDA 0,5 0,3 <4 Short-T
Slide 23: Share Performance and Market Cap
23 3Q24 FINANCIALS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix Share Performance (TL) Mcap (TL) 12.000 5.984,0 m TL million TL 70 35,20 ₺ 30.09.2024 30.09.2024 60 10.000 50 8.000 40 6.000 30 4.000 20 2.000 10 0 0 ➢ 4.727% return from the IPO date to September 30, 20
Slide 24: Agenda
24 01 02 03 04 05 06 Headlines Summary Financials Investment Expectations Appendix Thesis Page 3 Page 8 Page 10 Sayfa 25 Page 27 Page 29
Slide 25: Investment Thesis
25 INVESTMENT THESIS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix Investment Thesis Increasing software spending around the world due to the pandemic makes the sector strategic; R&D and Technopolis incentives and low tax rate; Being one of the fastest- growing techno
Slide 26: Agenda
26 01 02 03 04 05 06 Headlines Summary Financials Investment Expectations Appendix Thesis Page 3 Page 8 Page 10 Sayfa 25 Page 27 Page 29
Slide 27: Expectations
27 EXPECTATIONS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix Net Sales (mTL) EBITDA (mTL) 28,5% 2.300 1.100 856 130,6% 227,6% 2024/09 Actual 79,6% 1.095 997 296 555 2022 Realized 2023 Realized 2024 Estimated 2022 Realized 2023 Realized 2024 Estimated ➢ Due to the inc
Slide 28: Agenda
28 01 02 03 04 05 06 Headlines Summary Financials Investment Expectations Appendix Thesis Page 3 Page 8 Page 10 Sayfa 25 Page 27 Page 29
Slide 29: Appendix
29 APPENDIX
Slide 30: New Business Relations
30 NEW BUSINESS RELATIONS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix New Business Relations in 2024 Percentage of Date of Statement Customer / Tender Opener Amount Estimated Sales in 2024 Republic of Turkey Ministry of Internal Affairs, General Directorate of 8.10.
Slide 31: Financial Statements
31 FINANCIAL STATEMENTS Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix 2023/12 2024/09 Income Statements (TL) - TAS-29 Effect Included Audited UnAudited Income Statements (TL) - TAS-29 Effect 2023/09 2024/09 Assets 3.167.819.735 3.450.445.343 Included UnAudited UnAudit
Slide 32: Income Statement Including & Excluding TAS 29
32 3Q 2024 HEADLINES Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix Summary Income Statement Including & Excluding the Effect of TAS 29 TL TMS 29 Effect Excluded TMS 29 Effect Included 30.09.2024 30.09.2024 Revenue 1.095.399.444 1.341.556.262 EBIT 570.860.706 649.450.5
Slide 33: Milestones of Ard Group
33 MILESTONES OF ARD GROUP With the change of type, the Public offering of Ard Grup Dellmeier Turkiye Elektronik Purchase of 51% company title was changed to Information Technologies on San. Tic. AŞ and ARDTECH shares of Oxivo Grup ARD GROUP BİLİŞİM February 6, 2020 LTD in England were Bilişim A.Ş.
Slide 34: Ard Group
34 ARD GROUP Headlines | Summary| Financials | Investment Thesis | Expectations | Appendix
Slide 35: Disclaimer
35 DISCLAIMER This presentation contains information relating to ARD GROUP INFORMATION TECHNOLOGIES INC. (“ ARD INFORMATICS ”) that may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for any other purpose. By accessing this document you agre
Slide 36: Investor Relations Contacts
36 INVESTOR RELATIONS CONTACTS THANK YOU For detailed information, please contact us by e-mail [email protected]
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