Cyviz AS — Earnings Release 2022

Feb 10, 2023

Cyviz 10 February 2022

Fourth Quarter Results 2022

Today's agenda and presenters

Fourth-quarter in brief

Performance 2020-2022

Business highlights

Q4 financials

Outlook

Q&A

Espen Gylvik CEO

Marius Skagen CFO

Cyviz is next level collaboration. We bring communication, control and interaction together, powered by advanced technology but driven by one important thing: people. Cyviz makes life better by making the complex simple, ensuring work is more immersive, productive and ultimately more enjoyable. This is Cyviz. The future at work, right here, right now.

EBITDA of NOK 19.6m with operating cash flow of NOK 57m

Fourth-quarter in brief

EBITDA of NOK 19.6m driven by record-high revenues of NOK 180.4m.

Full-year EBITDA of NOK 11.1m, up NOK 25.9m from 2021

Gross profit increased 77% compared to Q4 2021 ending at NOK 81.5m for the quarter

Order intake of NOK 143m, with a backlog of NOK 273m entering 2023 Operating cash flow of NOK 57m for the quarter with a full-year improvement of NOK 79m compared to 2021

ROLLING 12-MONTHS TREND 2020-2022

Cyviz Group

Q4 -22

402

+228%

Q4 -21

Q1 -22

Q2 -22

Q3 -22

435

445

561

589

Q4 -22

11

Q2 -22

-28

Q3 -22

-11

Q1 -22

-25

Q4 -21

Business highlights

Business highlights

ORDER INTAKE BY VERTICALS – Q4 ORDER INTAKE BY REGION – Q4

Business highlights

ORDER INTAKE BY VERTICALS – 2022 ORDER INTAKE BY REGION – 2022

Q4 financials

Financial highlights

Revenues

• NOK 180m was a new all-time-high for a quarter and 81% growth compared to Q4 2021
• NOK 486m for 2022, up 51% from 2021
• Strong backlog conversion and good operational progression on largest project

Gross profit

• 77% growth from Q4 2021
• NOK 220m FY 2022 (55% growth from FY 2021)

EBITDA

• 10.9% EBITDA margin for Q4
• Full-year EBITDA of NOK 11.1m, up NOK 25.9m compared to FY 2021

Bookings

• NOK 589m for FY 2022, up 46% from FY 2021
• Q4 another proof-point of the increased diversification of our portfolio

ORDER INTAKE PERFORMANCE

Diversification of portfolio continues

1 2

3 4

EXPANDED GEOGRAPHICAL FOOTPRINT BOOK-TO-BILL ABOVE 1

Operating cash flow

Operating cash flow Q4

Key drivers Q4

• Continued reduction in accounts receivables (NOK 40m after Q4)
• Working capital improvements
• Strategic increase in inventories

Key drivers 2022 and onwards

• Total operating cash flowimprovements compared to 2021 is NOK 79m
• Improved cash collection routines and payment terms
• Cash position improved from NOK 24m in Q3 to NOK 73m after Q4

Q4 financials

^*other items relates to change in option expense, income tax, depreciation

Outlook

Outlook

Profitable growth through Next Level Collaboration

Profitable growth

Cyviz maintains the medium-term target of 15-20% EBITDA-margin

Cash flow and cash conversion

Increased focus during 2023

1

2

3

Next Level Collaboration solutions

Strengthen market position by increasing R&D-resources on subscription services and integrations through our cloud platform

Q&A

Thank you