SYS-DAT

Investor Presentation • May 13, 2025

UNLOCKING THE FUTURE

Q1 2025 Results

13 May 2025

1

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SYS-DAT: Unlocking the future

01 Company Growth 02 Q1 2025 Execution 03 Q1 2025 Financials Highlights

01 Company Growth

HISTORICAL GROWTH

SYS-DAT doubled its size in 3 years between 2021 and 2024 and added a significant acquisition in Q1 2025 2025

CURRENT PERFORMANCE – Q1 2025

Significant leap also driven by A&C group consolidation

31.03.25 vs 31.03.24

• Revenue:	€ 22.4m	+ 61.6%
• EBITDA:	€ 4.1m	+ 55.4%
• Net Income:	€ 1.3m	+ 23.0%
• NFP:	€ 14.9m	- 17.3m (*)
• Liquidity:	€ 51.3m	+ 2.9m (*)

(*) 31.03.25 vs 31.12.24

FUTURE POTENTIAL GROWTH - M&A IN ADDITION TO ORGANIC

Available cash and future cash generation to support M&A growth

02 Q1 2025 Execution

MAKE – GROUP PORTFOLIO ENRICHMENT

A&C Group is enlarging our product portfolio of vertical proprietary software solutions

MAKE – MARKET SUCCESSES

Successful case histories despite Q1 market slowdown driven by concerns over tariffs risk

UP-SELLING Supermarket chain with 72,000 sq. meters of logistics centers and c.30 superstores Provided services: Cybersecurity IT Assessment EDR (Endpoint Detention and Response) CROSS-SELLING NEW CUSTOMER Energy company that distributes electricity and natural gas Provided services: AI chatbot solution Provided services: NEW CUSTOMER Italian textile company specialized in the production of household linen Provided services: Order Entry and CRM solution

Systems hosted in Outsourcing

• Italian manufacturing company that produces and sells high-quality shoes

  • AI Allocation, enabling distribution optimization to the point of sale
  • Aria Retail Supply, AI application optimizing supply processes

• Frontend and Backend development

• Elaboration of a dashboard for the salesforce

BUY – BUSINESS CONSOLIDATION PROGRESSING

Integration and combination processes of the latest acquired companies is well in progress

03 Q1 2025 Financial Highlights

HEALTHY AND GROWING FINANCIALS

In all economic key metrics

Revenue growth positively impacted by organic growth and A&C acquisition, EBITDA margin in line with Q1'24

HEALTHY AND GROWING FINANCIALS

In all economic key metrics

Continuous R&D activities to boost innovation and growing Net Income generating value

Q1 2025 CASH FLOW

Strong Operating Cash Flow Increase from Q1 2024

Operating Cash Flow is growing thanks to business management and it is mainly invested in M&A opportunities

CLOSING REMARKS

Q1 2025 M&A acquisition marked a significant step-up in the group size

Healthy organic Revenue, EBITDA and Net Income growth

Business integration and combination of new acquired companies well in progress

Strong Operating Cash Flow has been mainly invested in M&A opportunities

Annex

Annex – Q1 2025 Profit & Loss Statement

(Euro)	31 March
	2025	2024
Operating Revenues	22.334.890	13.713.117
Other Revenues	96.308	169.916
Total Revenue	22.431.198	13.883.033
Purchasing cost	1.701.419	750.008
Changes in inventories	98.225	-70.036
Service cost	7.473.599	4.406.883
Personnel	8.864.880	5.988.304
Other operating cost	198.507	173.060
Total operating cost	18.336.630	11.248.220
EBITDA	4.094.568	2.634.813
Amortisations and depreciations	2.003.273	866.130
Provisions and writedowns	124.782	149.443
EBIT	1.966.513	1.619.240
Income (expenses) from equity investments	14.497	7.341
Other financial income (expenses)	396.358	-57.069
Value adjustments to financial assets and liabilities	-436.867	22.974
Income before taxes	1.940.500	1.592.487
Income taxes	661.551	552.592
Net Income	1.278.949	1.039.894
of which third parties income	-4.673	-912
Net Income of the parent company	1.283.623	1.040.806

Annex – Q1 2025 Balance Sheet Statement

(Euro)	31-Mar-25	31-Dec-24
ASSETS
Non-current assets
Goodwill	22.726.658	12.251.636
Intangible assets	23.929.126	10.947.067
RoU assets	6.973.240	4.914.601
Tangible assets	1.875.478	870.548
Equity investments and other non current assets	411.522	121.460
Deferred tax assets	993.871	801.527
Total non-current assets	56.909.895	29.906.838
Current assets
Inventories	896.047	248.998
Trade receivables	32.517.139	17.124.406
Activities for work in progress on order	906.684	1.172.062
Other receivables and current assets	8.466.859	3.016.470
Current financial assets	26.730.370	23.649.883
Cash and cash equivalent	24.524.861	24.680.166
Total current assets	94.041.960	69.891.985
TOTAL ASSETS	150.951.855	99.798.823

(Euro)	31-Mar-25	31-Dec-24
EQUITY AND LIABILITIES
Share Capital	1.564.244	1.564.244
Other reserves	55.636.447	49.225.354
Net result	1.283.623	6.195.784
Third parties' equity	174.286	178.960
Total group equity	58.658.600	57.164.342
Non current liabilities
Non current financial liabilities	27.306.718	11.227.539
Deferred taxes liabilities	5.870.597	2.539.525
Employee benefits	8.827.962	7.135.204
Provisions	567.611	173.958
Total non current liabilities	42.572.888	21.076.226
Current liabilities
Current financial liabilities	9.006.549	4.856.983
Trade payables	10.315.562	4.998.291
Advance payments on work in progress	1.293.246	1.345.950
Current tax debt	2.608.471	1.486.277
Other current debts and liabilities	26.496.540	8.870.754
Total current liabilities	49.720.367	21.558.255
TOTAL LIABILITIES AND EQUITY	150.951.855	99.798.822

Annex – Q1 2025 Cash Flows and Net Financial Position

(Euro)	31 March
	2025	2024
Net income	1.278.949	1.039.894
Taxes	661.551	547.601
Depreciation	2.003.273	866.130
Other variations	206.887	23.401
Funding from operations	4.150.660	2.477.026
Change in inventories	462.213	-284.284
Change in work in progress net of advances	-212.674	239.806
Change in trade receivables	-10.113.634	-5.020.290
Change in trade payables	1.521.695	-218.020
Change in other assets and liabilities	9.715.808	5.234.129
Taxes paid	0	0
Operating cash flow	5.524.068	2.428.368
Investments in intangible assets	-972.427	-596.626
Investments in tangible assets	-383.075	-205.836
Equity investments	0	0
Disinvestments of fixed assets	0	0
Disinvestments of leasing	0	0
Interest income collected	60.587	36.494
Change in other financial assets and liabilities	-2.587.446	-520.535
Investment activities Cash Flow	-3.882.361	-1.286.503
Change in financial debts	-15.443	31.788
Repayment of loans	-641.911	-500.158
Increase share capital	0	0
Listing expenses	0	0
Dividends	0	0
Interest paid	34.902	-8.014
Financial activities cash flow	-622.451	-476.384
Liquidity acquired (transferred) from changes in the consolidation area	-1.174.560	-955.053
Total cash flow (net of changes in consolidation area)	-155.304	-289.572
Cash and cash equivalent at the beginning of the period	24.680.166	14.437.097
Total cash flow	-155.304	-289.572
Cash and cash equivalent at the end of the period	24.524.861	14.147.526

Net Financial Position	31-Mar-25	31-Dec-24	Var	Var %
(Euro thousand)
A. Liquid assets	24.525	24.680	-155	-0,6%
B. Cash equivalents	0	0	0	n/a
C. Tradeable securities	26.730	23.650	3.080	13,0%
D. Liquidity (A) + (B) + (C)	51.255	48.330	2.925	6,1%
E. Current financial debt	100	85	14	16,8%
F. Current portion of non current debt	8.971	4.806	4.165	86,7%
G. Current financial indebtness (E )+ (F)	9.070	4.891	4.179	85,4%
H. Net current financial debt (D) + (G)	42.185	43.439	-1.254	-2,9%
I. Non-current financial debt	1.018	839	179	21,4%
J. Bonds issued	0	0	0	n/a
K. Other non-current financial debt	26.288	10.389	15.900	153,0%
L. Non-current financial debt (I) + (J) + (K)	27.307	11.228	16.079	143,2%
M. Net Financial Position (H) + (L)	14.878	32.211	-17.333	-53,8%