EBITDA increases to 19% on flat revenue

Breukelen, the Netherlands - August 4, 2021 at 8:00 AM CEST - TIE Kinetix, the leading provider of software as a service (SaaS) managed solutions for supply chain digitization with EDI, announces its trading update for the third quarter of 2021 today.

(€ * 1000)
Q3 2021 Q3 2020* Variance (%) YTD Q3 2021 YTD Q3 2020* Variance (%)

Total Revenues 3,754 3,935 -4.6% 11,177 11,116 +0.5%
Of which: SaaS Revenues 2,409 2,260 +6.6% 7.124 6,278 +13.5%
EBITDA 541 341 +58.6% 2,140 1,440 +48.6%

* Q3 2020 and YTD Q3 2020 key figures are adjusted for the following:

- To exclude results from TIE International B.V. that was sold during FY 2020 (classified as discontinued operations) – with total revenues for the third quarter and YTD FY 2020 of € 392K and € 1,377K, of which 81% and 74% SaaS revenues, respectively;

- To exclude results from the Demand Generation business that was sold during FY 2020 – with revenues for the third quarter and YTD FY 2020 of € 233K and € 745K, of which 100% and 99% SaaS revenues, respectively; and

- To include effects of IFRS 15 on revenue recognition, as revenues reported in the Q3 FY 2020 Trading Update were based on management reporting which excluded effects of IFRS 15 at that point.

We also refer to the paragraph ‘Use of alternative performance measures’ in our FY 2021 half year press release in this respect.

Q3 Year to Date: Financial Highlights

EBITDA growth ahead of plan from € 1,440k or 13% (2020) to € 2,140 or 19% (2021)
SaaS revenue growth on plan from € 6,278k (2020) to € 7,124k (increase of 13.5%);
Total revenue growth below plan from € 11,116k (Q3 2020) to € 11,177k (increase of 0.5%). Revenue growth was affected by the End Of Life migration program in the US migrating customers from legacy on premises solutions to FLOW SaaS solutions.
Loan receivable of € 3 million (following the sale of TCMA/GoogleAdwords business in FY 2020) was collected on May 14, 2021. Total cash position amounts to € 9,213k per quarter end.

Strategically important new contracts have – i.a. – been signed with:

Ministerie van Buitenlandse Zaken en Koninkrijksrelaties (Dutch Ministry of Internal Affairs);
Olympia Uitzendbureau
Groupe Le Graët
Wiltec
Yusen Logistics
Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ)
Centralpoint
Sodexo
Nutricia
UWV
Spar Holding
Shares Issued

20,284 Shares have been issued following the conversion of warrants. In total 295,728 warrants are outstanding per 30 June 2021. Furthermore, 23,169 shares have been issued under the Company’s Long Term Incentive program. These shares are subject to lock up conditions. In total 1,678,718 shares are outstanding.

Financial calendar

November 17, 2021: Publication of annual results FY 2021

This document may contain expectations about the financial state of affairs and results of the activities of TIE Kinetix as well as certain related plans and objectives, and may be expressed in a variety of ways, such as ‘expects’, ‘projects’, ‘anticipates’, ‘intends’ or similar words. TIE Kinetix has based these forward-looking statements on its current expectations and projections about future events. Such expectations for the future are naturally associated with risks and uncertainties because they relate to future events, and as such depend on certain circumstances that may not arise in future. Various factors may cause real results and developments to deviate considerably from explicitly or implicitly made statements about future expectations. Such factors may for instance be changes in expenditure by companies in important markets, in statutory changes and changes in financial markets, in the salary levels of employees, in future borrowing costs, in future take-overs or divestitures and the pace of technological developments. TIE Kinetix therefore cannot guarantee that the expectations will be realized. TIE Kinetix also refuses to accept any obligation to update statements made in this document.

For more information please contact:

TIE Kinetix N.V.
Michiel Wolfswinkel, CFO