Investor Presentaiton
2021 Outlook
Targeting 29-33% billings growth at constant currencies
Billings
(non-IFRS)
Revenue
(IFRS)
2020 Guidance 2020 Actual
2021 Outlook
(*excl. Ubimax)
(incl. Ubimax)
€450-455m*
€460.3m¹
€585-605m
at least €450m*
€455.6m²
€525 – 540m
Adj. EBITDA Margin
(non-IFRS, as % of Billings)
around 56%
56.8%
55-57%
Capital Expenditure
(excl. M&A)
€25-30m
€26.2m
Ubimax contribution of €3.6m 2 Ubimax contribution of €2.9m
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Q4/ FY 2020 Preliminary Results (unaudited) - Investor Presentation
With c.30% USD denominated billings and exposure to
other currencies, reported growth is subject to
exchange rate changes
Outlook assumes USD/EUR exchange rate of 1.20 and
broadly stable other currencies
Billings outlook corresponds to 29 - 33% growth at
constant currencies
Revenue below billings as remaining perpetual deferred
revenue has been largely recognized
Investments to continue in 2021 within financial model,
with a greater focus on marketing initiatives
Following one-off investments in 2020, capital
expenditure returning to a lower level
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