Wavestone : presentation – Oddo BHF TMT Forum (slideshow)

AGENDA

01	Wavestone + Q_PERIOR, a new consulting champion

02	2023/24 half-year results

03	Outlook and recent news

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From strategic partners with a first-class reputation in Europe

to a newly combined global consulting powerhouse

WAVESTONE

is an independent French leading consultancy, listed on Euronext Paris, with an established business in the UK and the US.

Q_PERIOR

is a German independent consulting firm, leader in the Germany- Switzerland-Austria region.

A people-centric and	A unique range	Independent, integrated, with
responsible company	of capabilities	one objective: Client Success

• A consultancy that puts people at the center of everything.
• An ethical and civic-minded firm, at the forefront of best practices in social, societal and environmental responsibility.

• Unrivalled industry expertise and technology fluency.
• Cutting-edge know-howin key cross- industry domains such as Cybersecurity or Sustainability.
• End-to-endtransformation support, from building the business case to making the change happen.

• A development model driven by growth.
• Majority of the shares owned by founders and key leaders of the firm.

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Stronger and broader: a substantial international presence

A leading position in the three main markets of continental Europe

		OTHER
NORTH AMERICA		4%
UK		5%
5%

SWITZERLAND	11%

52%

FRANCE

23%

GERMANY

€835m

consolidated revenue1 at March 31, 2023

12.1%

consolidated EBIT margin1 at March 31, 2023

5,500+

cumulated FTEs

17 countries

in presence

1 Based on IFRS unaudited pro forma figures over 12 months at March 31, 2023

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Breakdown of the new group's activities

	OTHERS
CONSUMER GOODS,
RETAIL & LUXURY
	6% 5%	BANKING
PUBLIC SECTOR &		21%
INTERNATIONAL INSTITUTIONS	10%
AUTOMOTIVE 13%	18%
& INDUSTRY

Key customers1

BMW	MUNICH RE
CREDIT AGRICOLE	SNCF
DEUTSCHE BAHN	SOCIETE GENERALE

13%

TRANSPORTATION,

TRAVEL & LOGISTICS

1 Ranked by alphabetical order

INSURANCE

14%

ENERGY

EDF	SWISS RE
L'OREAL	TOTALENERGIES

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A 360° transformation portfolio of high-value consulting services

Core-business process capabilities

Customer Experience, Supply Chain, Compliance, risk and regulations

Technology

& integration capabilities

Data & Artificial intelligence, Cybersecurity, SAP consulting, IT Strategy & CTO Advisory

Unrivalled industry expertise

Banking, Insurance, Energy, Transportation,

Automotive & Industry, Beauty & Luxury,…

Corporate functions and support-process capabilities

Corporate finance, HR and procurement,

Sourcing & Services optimization,

Change Management

Sustainability capabilities

Decarbonation, Green IT, IT for Green

CSRD - Double materiality assessment

Note: non-exhaustive selection of key cross-industry capabilities

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Long-term growth ambitions while remaining true to our non-financial commitments

2025	By 20251, reach €1bn revenue
and EBIT of at least €130m,
	and, in the longer term:
2026
	•	Sustain a 15% revenue growth rate2.
2027	•	Be considered by our clients as the
2028		trusted alternative to major and
		established competitors3 for their
2029		major transformation projects.
2030

A culture of strong non-financial

performance…

• Client satisfaction: NPS® score above 50.
• Talent development: High employee engagement index, in the TOP 10% of the Great Place to Work® ranking in each. country.
• ESG commitment: in the TOP 5% of the best companies in terms of CSR.

1. Excluding new acquisitions
2. Combining organic growth and acquisitions
3. Big 4 and dominant UK/US firms

AGENDA

01	Wavestone + Q_PERIOR, a new consulting champion

02	2023/24 half-year results

03	Outlook and recent news

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Growth of +17% in H1 2023/24

Revenue			Change
2023/24	2022/23	at constant scope 1	Total variation
	and on a constant
In €m - unaudited consolidated data
		forex basis
Q1	143.3	122.0	+11%	+17%
Q2	133.4	115.1	+14%	+16%
H1	276.7	237.1	+12%	+17%

1 Excluding PEN Partnership, consolidated since August 1, 2022; and Coeus Consulting, consolidated since October 1, 2022

• Revenue of €276.7m in H1 2023/24: +17%
• • growth of +12% at constant scope and exchange rates (unfavorable working day impact of -2.2%)
  • result of the intensification of business development activity and growth driven by headcount at the end of the 2022/23 fiscal year

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Consultant utilization rate of 73% in H1 2023/24 and increase in sales price of +1.1%

H1 2023/24	2022/23 fiscal year
(6 months)	(12 months)

Consultant utilization rate	73%		73%

Average daily rate	€900		€890

Order book		3.6		4.0
	months		months

recovery in consultant utilization rate in H1 after the significant drop at the end of the 2022/23 fiscal year (71% in Q4)

sales price up by +1.1%

growth of +1.3% at constant exchange rates (€902)

reduction in the order book, reflecting the typical slowdown in order intake during the summer, as well as the deterioration of the business environment

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