Logo Yazilim (LOGO) Investor Presentation summary

Business overview and market position

• Local leader in enterprise application software in Turkey and Romania, with presence in India via JV.

• 2023 revenues reached $101 million, with 67% recurring revenue and 31% SaaS share.

• Over 200,000 customers and 1,600+ employees, with 45% women.

• Holds 26% market share in Turkish EAS market, matching Microsoft and trailing SAP.

• Product portfolio spans micro to large corporates, with strong SME focus and tailored solutions.

Financial performance and growth

• Consolidated H1 2024 revenues grew 19% y/y to 2,277 TL mn, EBITDA up 25%, net income down 36%.

• Q2 2024 revenues up 18% y/y, EBITDA up 44%, net income down 42%.

• Türkiye segment saw 20% revenue growth and 16% EBITDA growth in H1 2024.

• Total Soft (Romania) delivered 16% revenue growth and 109% EBITDA growth in H1 2024.

• Double-digit USD-based revenue CAGR over the past decade.

SaaS and recurring revenue expansion

• SaaS revenues grew 18% y/y in H1 2024, now 33% of total revenues.

• eLogo platform leads e-government solutions with 188,000 customers and 22M USD ARR.

• İşbaşı SaaS for microSMEs reached 64,000 users, 39% y/y growth, ARPU $28.

• Diva Retail SaaS ARR up 52% y/y, ARPU $378, 139 customers.

• CaptainBiz in India reached 18,339 users, ARR $517K, ARPU $28.