ATOSS Software (AOF) Investor Presentation summary

Market position and business overview

• Recognized as a leading innovator in workforce management with over 30 years of market experience and a global presence in 50 countries, serving more than 4 million employees through its solutions.

• Maintains a strong focus on R&D, investing 16% of revenue, and has achieved double-digit revenue growth year-over-year since 2014.

• Offers a comprehensive product portfolio addressing diverse customer needs, optimizing workforce deployment, and delivering measurable cost and efficiency benefits.

• Cloud transition is a core strategy, with a growing share of recurring revenue and a net retention rate of 123% and churn rate of 2% for cloud services.

Financial performance and key metrics

• Achieved its 18th consecutive record year in 2023, with total revenue of €151 million (+33% YoY), software revenue of €108.2 million (+38%), and recurring revenue of €97 million (+35%).

• EBIT margin reached 34% in 2023, with net profit at €35.8 million (+85%) and EPS of €4.50 (+84%).

• 1H 2024 revenue grew 14% to €83.8 million, with recurring software revenue at €53.3 million (87% of total software revenue) and EBIT margin at 35%.

• Strong cash position with €64.3 million in cash and cash equivalents as of June 2024, and an equity ratio of 53%.

• Dividend policy remains consistent, with a regular dividend of €2.00 and special dividend of €2.83 per share in 2023.

Cloud transformation and growth strategy

• Cloud ARR reached €58.9 million in 2023 (+44%), with cloud and subscription revenue now 59% of recurring revenue.

• Net retention rate for cloud products remains strong (ASES: 125%, ATC: 114%, Crewmeister: 93%), and average churn rate is low at -1.6%.

• Committed future revenue from contracts rose 22% to €154.5 million at YE 2023, with €70.8 million contractually secured for 2024.

• Growth strategy centers on expanding international revenue (targeting 10% non-DACH by 2025), increasing recurring revenue share to ~70%, and maintaining EBIT margin ≥30%.

• Crewmeister segment targets 19,000 customers and €9 million ARR by 2025, with high customer satisfaction and a CLTV/CAC ratio of 5.8.