Logo Yazilim (LOGO) Investor Presentation summary

Business overview and market position

• Leading enterprise application software provider in Türkiye, with operations in India and Romania, offering ERP, HR, CRM, and WMS products.

• 2023 IFRS revenues reached $108 million, with a 70% recurring revenue base and 34% SaaS revenue share.

• Strong R&D focus, 1,600+ employees, and over 200,000 customers.

• Market leader in Türkiye's SME segment, with tailored products and the highest customer count.

• International expansion through acquisitions and joint ventures, notably in Romania and India.

Financial performance and growth

• Consolidated IFRS revenues grew at a 13% CAGR (2013–2023), with 2024 guidance indicating continued double-digit growth.

• 9M24 consolidated invoiced revenue up 8% y/y, EBITDA up 24%, and net income up 83%.

• Recurring revenues rose 14% y/y, now 70% of total invoiced revenue; SaaS revenues up 20% y/y, reaching 34% of total.

• Türkiye segment saw 21% SaaS revenue growth and maintained a 42% EBITDA margin in 9M24.

• Total Soft (Romania) delivered 21% revenue growth and improved EBITDA margin to 22% in 9M24.

SaaS and digital transformation

• Strong SaaS footprint with solutions for retail, HR, and MicroSMEs; over 188,000 SaaS customers and $22 million ARR.

• eLogo platform leads in e-government solutions, serving 198,000 customers and showing 26% y/y growth.

• İşbaşı SaaS for MicroSMEs achieved 104% ARR growth and 33% user growth y/y.

• CaptainBiz in India saw ARR up 216% and user base up 214% y/y, with ARPU rising 38%.

• Peoplise HR SaaS grew ARPU by 29% and customer count by 21% y/y.