74software · EURONEXT:74SW

74software — Axway — H1 2013 Earnings Presentation

31 slides from 74software's earnings presentation, Aug 1, 2013

Slide 1: Axway Half Year 2013 Results
Axway Half Year 2013 Results Christophe FABRE, Chief Executive Officer 1st August 2013
Slide 2: Forward looking statements
Forward looking statements • This document contains forecasts in respect of which there are risks and uncertainties concerning the company’s future growth and profitability. The company highlights the fact that the signature of licence contracts, which often represent investments for clients, are mo
Slide 4: Revenue breakdown – by region
Revenue breakdown – by region HY 2012 HY 2012 HY 2013 Organic M€ HY 2013 Published Pro forma Total Growth Growth1 Americas 41.6 38.0 39.6 +9.5% +5.1% France 34.8 32.6 32.8 +6.8% +6.2% Rest of Europe 26.7 25.1 26.4 +6.3% +1.2% Asia Pacific 3.2 2.6 2.8 +22.6% +17.7% 106.4 98.4 101.6 +8.1% +4.8% Q1 org
Slide 5: Revenue breakdown – by business line
Revenue breakdown – by business line HY 2012 HY 2012 HY 2013 Organic M€ HY 2013 Published Pro forma Total Growth Growth1 Licenses 27.0 24.6 26.6 +9.8% +1.6% Maintenance 52.4 47.1 47.9 +11.2% +9.5% Services 27.0 26.7 27.1 +1.1% -0.4% 106.4 98.4 101.6 +8.1% +4.8% Q1 organic Q2 organic growth1 growth1
Slide 6: Axway: a balanced business model
Axway: a balanced business model HY2013 BY REGION BY BUSINESS LINE Asia Pacific Licenses France Services 3% 33% 26% 25% 39% 25% 49% Rest of America Europe Maintenance 6 | © 2013 Axway | All rights reserved Investor Relations
Slide 7: Headcount at 30 June 2013: 1,798
Headcount at 30 June 2013: 1,798 1 755 1 774 1 798 1 614 1 661 1 131 1 145 1 170 1 016 1 064 598 597 624 629 628 2009 2010 2011 2012 S1 2013 France Out of France TOTAL 7 | © 2013 Axway | All rights reserved Investor Relations
Slide 8: HY2013: cost analysis
HY2013: cost analysis HY 2013 HY 2012 FY 2012 (in M€) (% Rev) (in M€) (% Rev) (in M€) (% Rev) Revenue : License 27.0 25.4% 24.6 25.0% 71.4 31.8% Maintenance 52.4 49.3% 47.1 47.9% 98.2 43.8% Total Product Revenue 79.4 74.6% 71.7 72.9% 169.6 75.6% Services 27.0 25.4% 26.7 27.1% 54.7 24.4% Total Revenu
Slide 9: H1 2013: Operational summary
H1 2013: Operational summary • France: Rebond is confirmed • Rest of Europe: Disparate landscape • USA: Despite a slow Q2, momentum is real • Asia-Pac: Opportunities to be leveraged • Licenses: Transformation of activities is on going • Maintenance: Strong performance • Services: Business is still l
Slide 10: New deals H1 2013
New deals H1 2013
Slide 11: Governing the Flow of Data – North America
North America Governing the Flow of Data Global company enabling global Axway 5 Suite to govern the flow of commerce, processing financial data and meet stringent SLAs. more than 7.6 mil payments daily. OneHealthPort Added Axway API Server to their Axway State of Washington’s Health Information 5 Su
Slide 12: Governing the Flow of Data – France
France Governing the Flow of Data Consortium for collecting environmental taxes on heavy goods vehicles. Axway 5 Suite to govern the flow of ecotaxe financial data. 300 DIY stores, 12800 employees. Axway 5 Suite to govern the flow of Store-to- corporate data (Castorama and Brico Dépôt brands). Budge
Slide 13: Governing the Flow of Data – Rest of World
Rest of World Governing the Flow of Data 68.82B€ revenues and 105,876 employees (end of 2012). Axway API Server to enable Connected Car mobility services with secured authentication and access (Oauth capability). 143,096 vehicles sold and 17,502 employees in 2012.Now part of Volkswagen AG. Axway pow
Slide 14: Accounting & Financials Results
Accounting & Financials Results Patrick Donovan – Chief Financial Officer
Slide 15: Income Statement (1/2)
Income Statement (1/2) In thousands of euros HY2013 HY2012 FY2012 Revenue : License 26 970 24 578 71 435 Maintenance 52 417 47 116 98 205 Total Product Revenue 79 387 71 694 169 640 Services 26 979 26 677 54 680 Total Revenue : 106 366 98 371 224 320 Costs of sales: Product Revenue 10 547 9 886 20 6
Slide 16: Income Statements (2/2)
Income Statements (2/2) In thousands of euros HY2013 HY2012 FY 2012 Profit on operating activities 7 130 5 463 34 966 as a % of Revenue 6.7% 5.6% 15.6% Stock option related expenses (645) (564) (1 147) Amortization of intangible assets (1 898) (992) (2 130) Profit from recurring operations 4 587 3 9
Slide 17: Simplified Balance Sheet (1/2)
Simplified Balance Sheet (1/2) In millions of euros June 2013 June 2012 Dec. 2012 ASSETS Goodwill 195.6 173.2 196.6 Intangible assets 31.3 19.2 31.0 Property, plant and equipment 5.9 4.6 6.3 Other non-current assets 30.4 16.6 18.5 Non-current assets 263.2 213.6 252.3 Trade receivables 57.7 54.1 72.2
Slide 18: Simplified Balance Sheet (2/2)
Simplified Balance Sheet (2/2) In millions of euros June 2013 June 2012 Dec. 2012 SHAREHOLDERS' EQUITY AND LIABILITIES Share capital 40.7 40.6 40.6 Capital reserves and results 198.0 177.2 193.3 Total shareholders' equity 238.7 217.9 234.0 Financial debt - long-term portion 37.9 2.1 36.9 Other non-c
Slide 19: Change in Equity
Change in Equity In millions of euros June 2013 June 2012 Dec. 2012 Equity at Opening of Period 233.9 213.4 213.4 Profit for the period 9.8 2.6 24.7 Share-based payments 0.6 0.6 1.1 Treasury Shares -0.1 0.0 -0.1 Dividends -7.1 -5.0 -5.0 Capital increase 0.5 2.1 2.1 Actuarial gains and losses 0.0 0.0
Slide 20: Cash Flow Statement
Cash Flow Statement In millions of euros June 2013 June 2012 FY 2012 Net profit for the period 9.8 2.6 24.7 Net charges to amortizations, depreciations and 8.1 2.5 5.8 provisions Other income and expense items 1.0 (0.3) 0.5 Cash from operations after cost of net debt and 18.9 4.8 31.0 tax Changes to
Slide 21: Financial Structure – Covenants
Financial Structure – Covenants 0,2 800 0 700 -0,2 600 -0,4 500 -0,6 400 -0,8 300 -1 200 -1,2 100 -1,4 0 30/06/2013 31/12/2012 30/06/2012 30/06/2013 31/12/2012 30/06/2012 Net Debt/EBE R1<3 Net Debt/Equity R3 <1 EBE/Cost of Net financial debt R2 >5 • All bank covenants in line 21 | © 2013 Axway | All
Slide 22: Positioning & strategy
Positioning & strategy Christophe Fabre, Chief Executive Officer
Slide 23: Middleware Spending Worldwide
Middleware Spending Worldwide According to Gartner¹, Application Infrastructure and Middleware total software revenue worldwide was at $20.4bn in 2012, and this segment should target $29.1bn in 2017 (1Q13 Forecast). ¹Source: Gartner, Forecast Analysis: Enterprise Infrastructure Software, Worldwide,
Slide 24: Axway Positioned as a Leader in Gartner Magic Quadrant
Axway Positioned as a Leader in Gartner Magic Quadrant for On-Premises Application Integration Suites “Enterprises need systematic application integration functionality supporting robust messaging, multiple B2B protocols and cloud APIs.” Gartner “Magic Quadrant for On-Premise Application Integration
Slide 25: What really matters will happen at the Edge
What really matters will happen at the Edge “Technology forecast: the business value of APIs”, PWC, 2012 25 | © 2013 Axway | All rights reserved Investor Relations
Slide 26: Govern the Flow of Data
Govern the Flow of Data Axway 5 Suite (Launched in February 2013) Mobile Cloud Apps Cloud Infrastructure Governance SLA/Analytics Community Mgt Policies Security Integration Human …. Partner Interactions Communities 26 | © 2013 Axway | All rights reserved Investor Relations
Slide 27: Axway in the Competitive Landscape
Axway in the Competitive Landscape Vordel Tumbleweed Cyclone… IDS Scheer Synapse Terracota Proginet My-channels Nimbus Govern the Flow of Data “2 seconds advantage” Process excellence The Global leader Inovis, Rollstream Specialists Data integration In B2B Integration Middleware Generalists HW & SW
Slide 28: We confirm our project
We confirm our project • Axway’s vision is in line with market evolutions – «Governing the Flow of Data» enables the $500M project – Acquisitions would accelerate the momentum • Axway is executing towards its transformation – Operating structure is strengthening • Vordel integration is completed – A
Slide 29: We confirm our Outlook for FY2013
We confirm our Outlook for FY2013 • Technology shifts and economical situation impact software vendors • Axway continues its transformation • Encouraging commercial pipeline for Q3 • Still some work to secure Q4  No change on guidance – Positive organic growth – Operating margin maintained 29 | © 2
Slide 30: It’s time for Q & A
It’s time for Q & A 11,000+ 1,774+ 224M€ Governing customers employees Flow of data 15.6% margin 22 locations in the World Headquarters in US, listed (AXW. PA) and registered in France 30 | © 2013 Axway | All rights reserved Investor Relations
Slide 31: Thank you!
Thank you!

Axway — H1 2013 Earnings Presentation on 6ix

74software — Axway — H1 2013 Earnings Presentation

Slide 1: Axway Half Year 2013 Results

Slide 2: Forward looking statements

Slide 3: Contents

Slide 4: Revenue breakdown – by region

Slide 5: Revenue breakdown – by business line

Slide 6: Axway: a balanced business model

Slide 7: Headcount at 30 June 2013: 1,798

Slide 8: HY2013: cost analysis

Slide 9: H1 2013: Operational summary

Slide 10: New deals H1 2013

Slide 11: Governing the Flow of Data – North America

Slide 12: Governing the Flow of Data – France

Slide 13: Governing the Flow of Data – Rest of World

Slide 14: Accounting & Financials Results

Slide 15: Income Statement (1/2)

Slide 16: Income Statements (2/2)

Slide 17: Simplified Balance Sheet (1/2)

Slide 18: Simplified Balance Sheet (2/2)

Slide 19: Change in Equity

Slide 20: Cash Flow Statement

Slide 21: Financial Structure – Covenants

Slide 22: Positioning & strategy

Slide 23: Middleware Spending Worldwide

Slide 24: Axway Positioned as a Leader in Gartner Magic Quadrant

Slide 25: What really matters will happen at the Edge

Slide 26: Govern the Flow of Data

Slide 27: Axway in the Competitive Landscape

Slide 28: We confirm our project

Slide 29: We confirm our Outlook for FY2013

Slide 30: It’s time for Q & A

Slide 31: Thank you!