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16 Feb 2017 - Qt Group Plc. FINANCIAL ... Automotive growing: Qt has business .... The company's aim is to refrain from the distribution of dividends until ...

Qt Group Plc

FINANCIAL RESULTS Q4 AND FULL YEAR 2016

16 February 2017

Highlights

8845 Revenue k€

+19,8%

7383

Strong growth continued › 10-12 / 2016: 8,8M€ (7,4): › 19,8 % growth

› 1-12 / 2016: 32,4M€ (26,9): › 20,3% growth

2

Q4 2016 Q4

>70

100M€

industries

2015

Revenue

Business on wide ground

New Strategy and Goals

› Operating in over 70 industries

› 2021: 100M€ revenue, >15% EBIT

› Automotive growing: Qt has business operations with most of Top 10 Automotive brands

› Additional 15M€ funding by a rights issue

2016 Strong growth in the global market continued Revenue by products & services 35,0

€32,4M

30,0 25,0 20,0 15,0

€26,9M €20,4M

+32%

+20%

21,1 15,6

10,9

10,0 5,0

9,5

**

11,3

**

License sales & consulting: › Developer licenses, distribution licenses (runtimes) › Consulting & other services Support & maintenance: › Annual maintenance fees

11,3

0,0 2014 Support & Maintenance 3

2015

2016

License Sales & Services

**One-off Nokia revenue › 1 850K€ in the 12 months of 2014 › 1 388K€ in the first nine months of 2015

Financials

Key Financials Q4 / 2016 +19,8%

8845

Thousand EUR Revenue

10-12 / 2015

10-12 / 2016

7 383

8 845

Growth% Other operating income Total expenses EBIT Comparable operating profit* EBIT% Average number of employees *Items affecting comparability

19,8 % 400

476

7 696

9 625

86

-305

146

-98

1,2 %

-3,4 %

182

218

60

2015

EBIT and Comparable operating profit 146

86

-98

207

-305

Q4 2015

Average number of employees

Q4 2016 218

182

5

2016

Q4

7383

Revenue

Q4

Q4 2015

Q4 2016

Key Financials 2014-2016 32395

Thousand EUR

1-12 / 2014

1-12 / 2015

1-12 / 2016

20 406

26 934

32 395

32 %

20 %

1 184

1 821

528

Total expenses

23 591

26 967

34 658

EBIT

-2 001

1 786

-1 736

Comparable operating profit**

-1 850

1 922

291

-9,8 %

6,6 %

-5,4 %

176

180

209

Revenue* Growth% Other operating income

EBIT% Average number of employees Operating cash flow Trade receivables Operating cash flow Cash reserves Short-term interest bearing debt *One-off Nokia revenue **Items affecting comparability ***1,1M€ loan from Digia paid back in June 2016

-1 540

1 166

-1 385

3 859

5 411

7 741

-1 540

1 166

-1 385

2 857

3 577

6 420

674

1 243***

6 152

1 850

1 388

0

151

136

2 026

26934

Short-term interest bearing debt

2014

Operating cash flow 1166 6152 -1385

-1540 674

1243

Cash reserves

Trade receivables 6420

2857

2014 6

2016 2015

+32%

20406

Revenue

+20%

3577

2015

3859

2016

2014

5411

2015

7741

2016

2017 Financial Reporting › Revenue by products and services will be reported as follows › License sales and consulting › Support and maintenance

› 2016 comparison figures Thousand EUR License sales and consulting

1-3/2016

4-6/2016

7-9/2016

10-12/2016

1-12/2016

4 435

6 215

4 567

5 855

21 073

Support and maintenance

2 713

2 720

2 900

2 989

11 322

Total revenue

7 148

8 935

7 467

8 845

32 395

7

Renewed Strategy and Goals 2017-2021

Exponential Growth of Connected Devices Provides a Scalable Business Opportunity for Qt The number of devices that will be made is growing much faster than the number of developers that are educated and brought into the industry 1

Biggest growth potential for Qt lies in connected device volumes

The IoT trend leads to a higher demand for creating devices; with less costs and with fewer people 2

Powerful cross-platform frameworks and tools are required for the change to take place.

2021 Goal: 100M€ Revenue, >15 % EBIT 100M€

100

License Sales & Consulting (target 80% of revenue): › 60%-p. of Revenue from License Sales

– Build scalable business model with recurring revenue from Distribution licenses

75

80%

80M€

50

› 20%-p. of Revenue from sustainable stand-alone Consulting & Premium Support business › Mainly from organic growth, but selective use of M&A is possible to support the growth

32,4M€ 25

0

21,1M€ 11,3M€ 2016

10

20%

20M€ 2021

Support & Maintenance (target 20% of revenue): › Sustainable business model with automatically renewing annual maintenance for the Developer license installed base › Auto-renewals defend the existing business from customer churn and bring efficiency gains in Business Operations

Additional Growth Investment 2017 - 2018 › Up to €10M year-on-year increase in total expenses in 2017 and 2018 each › Investment supports local geographic presence, industry focus of growing the business and product quality 1. Growing the global sales network and 2. Product offering in selected industries › Investment funded by raising capital with rights issue › Additional investment realized in phases, investment decisions subject to the growth plan being successfully executed by the management

Up to

20 M€ Additional Growth Investment 2017-2018

Strategic Goals for 2017 - 2021 Revenue › Delivering on growth strategy is the most important goal › Selective use of M&A to support the growth › Executing growth investments to enable top-line growth

2017

› Deliver positive EBIT in FY2019 › Reach EBIT higher than 15% of Net Sales in FY2021

Total expenses

2016

EBIT

Dividend policy › The company’s aim is to refrain from the distribution of dividends until further notice

2018

2019

2020

2021

Net Sales

€32,4M

Total expenses

€34,7M

Increase up to 10M€

Increase up to 10M€

Moderate increase

Moderate increase

Moderate increase

Investment funding

Existing loan

Rights issue Q2/2017

Rights issue Q2/2017

Cash flow

Cash flow

Cash flow

EBIT

-€1,7M

12

€100M

Positive

> 15% of Net Sales

2017 Full Year Outlook

2017 Full Year Outlook › The company estimates that its net sales in 2017 will increase by 15–20 per cent year-onyear. › Due to investments in growth, the company’s operating result (EBIT) will show a substantial loss in 2017.

15-20% revenue growth Operating result (EBIT) will show a substantial loss in 2017 due to growth investments

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