Company Announcement No. 69 - 2024
OrderYOYO A/S
Inside Information
Highlights
Business continues to perform strongly and above guidance. Highly focused strategy solving digital challenges for our
2023 ARR, Net Revenue, EBITDA and GMV all performing above latest guidance released in November. Strong performance in Q4 2023 with December ARR of
Full year 2023 EBITDA of
2024 guidance significantly raised driven by relentless focus on delivering value to our
With a full year EBITDA margin for 2023 of 10% and a H2 2023 EBITDA margin of 12% the Path to Profitability strategy implemented during 2022 and 2023 is now showing results. 2024 EBITDA guidance is therefore significantly increased to
In
Financial Highlights
| Consolidated 12M | Q4 | ||||
(DKKm) | 2023 | 2022 | (%) | 2023 | 2022 | (%) |
Annual Recurring Revenue (ARR - Annualized Dec MRR) | 296 | 212 | 40% | 296 | 212 | 40% |
GMV (Annualized December GMV) | 2,949 | 2,227 | 32% | 2,949 | 2,227 | 32% |
Net Revenue (12M 2022 pro forma) | 253 | 184 | 38% | 72 | 52 | 38% |
EBITDA before other extraordinary items (12M 2022 pro forma) | 25.6 | (0.9) | nm | 9.1 | 3.2 | 184% |
Cash EBITDA | 0.2 | (31.0) | nm | 3.6 | (6.6) | nm |
Accounting Net Revenue* | 253 | 149 | 70% | 72 | 52 | 38% |
*app smart consolidated from |
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1) Cash EBITDA defined as EBITDA before other extraordinary items minus capitalized R&D expenditures
** Annualized December ARR of
** Full year 2023 Net revenue of
** Q4 2023 Net Revenue of
** Annualized December GMV of
** Positive EBITDA before other external costs full year 2023 of
** Q4 2023 EBITDA before other external costs of
Consolidated 2024 guidance raised
Due to our strong performance full year 2023, consolidated 2024 guidance is raised as follows:
| 2024 Guidance | |
(DKKm) | Updated | Current |
December Annualized Annual Recurring Revenue | 315-325 | 300-310 |
December Annualized GMV | 3,100-3,300 | 2,800-3,000 |
Net Revenue | 275-285 | 260-270 |
EBITDA before other extraordinary items | 33-38 | 23-28 |
Cash EBITDA | 5-10 | na |
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** Net revenue 2024 guidance is raised from
** EBITDA before other external costs 2024 guidance is raised by 40% from
** Cash EBITDA guidance released for the first time of
OrderYOYO consolidation strategy and Path to Profitability Strategy initiated in 2022 is showing results ahead of time
During the period 2018 to 2021 OrderYOYO's main focus was on GMV and ARR growth. In these years OrderYOYO quadrupled ARR. Coming out of Covid OrderYOYO took the strategic decision to implement a more balanced growth strategy with equal focus on profitability. Two main components were expected to drive profitability - operational leverage; i.e., the ability to do more with the same amount of resources, and an active M&A strategy.
OrderYOYO has now been EBITDA profitable since
As European market leader, we keep seeing increased consolidation opportunities in our markets. Our consolidation strategy focuses on two types of acquisition targets:
- Local market leaders in European countries where OrderYOYO is currently not present to expand our European market leading position, and
- Local participants in the markets where OrderYOYO is already market leader to drive economies of scale and increased profitability for the Group
It is our goal to continue to be EBITDA profitable and our raised guidance for 2024 EBITDA of
As we continue our growth, both organically and through consolidation, economies of scale and cost control will increase EBITDA. In addition, acquisitions of local participants in markets where we are already market leader will provide the opportunity to increase profitability through cost savings and efficiency gains.
We are confident that our strategy will result in a continued expansion of our EBITDA margin in the coming years and our long-term EBITDA goal is +25%.
Video presentation
The Q4 2023 Report will be presented at an online conference call on
Register for the conference call at:
https://www.inderes.dk/videos/orderyoyo-presentation-of-q4-2023-trading-update
For additional information, please contact
OrderYOYO A/S
Mobile: (+45) 21 67 84 92
Email: jesper.johansen@orderyoyo.com
OrderYOYO A/S Masnedøgade 26, 2100 Copenhagen Ø
Certified Advisor
Mobile: (+45) 31 79 90 00
Grant Thornton Stockholmsgade 45, 2100 Copenhagen Ø
About OrderYOYO
OrderYOYO is the market leading European online ordering, payment, and marketing software solution provider. OrderYOYO's solution is offered as Software-as-a-Service (SaaS) and enables small independent takeaway restaurants to have their own-branded online presence direct to consumers. OrderYOYO helps takeaway restaurants drive online takeaway orders through their own tailored software solution in the individual takeaway restaurant's own brand. We liberate restaurants.
https://news.cision.com/orderyoyo-a-s/r/orderyoyo-a-s-publishes-arr--net-revenue-and-ebitda-significantly-above-latest-guidance--2024-guidan,c3911590
https://mb.cision.com/Public/20605/3911590/ac6fbd406ba7cfb7.pdf
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