F-secure Oyj · OMXHEX:FSECURE
F-secure Oyj — Shareholder Meeting (March 2010)
23 slides from F-secure Oyj's shareholder meeting presentation, Mar 24, 2010
Slide 1: F-Secure Corporation Annual General Meeting
F-Secure Corporation Annual General Meeting March 24, 2010 Kimmo Alkio, President and CEO Protecting the irreplaceable | f-secure.com
Slide 2: We enable millions of people to safely enjoy their connected lives
We enable millions of people to safely enjoy the exciting opportunities of their connected lives 2 March 24, 2010 © F-Secure Corporation
Slide 3: F-Secure Corporation
F-Secure Corporation • 1988: F-Secure founded • 1999: IPO Helsinki Stock Exchange 2009: Leader in providing value added services to consumers through operators 3 24.3.2010 © F-Secure Oyj
Slide 4: F-Secure business: global presence and key figures 2009
F-Secure business Global presence • Subsidiaries in 16 countries • More than 200 operator partners in over 40 countries • Strong presence in Europe, Asia and North America Key figures in 2009 • Revenue EUR 125 million • Operating profit EUR 24 million • Personnel: 826 4 24.3.2010 © F-Secure Oyj
Slide 5: Contents
Contents 1. Market review 2. Financial performance of 2009 3. Long-term objectives 5 March 24, 2010 © F-Secure Corporation
Slide 6: Contents
Contents 1. Market review 2. Financial performance of 2009 3. Long-term objectives 6 March 24, 2010 © F-Secure Corporation
Slide 7: More people in Internet and faster connections increase demand for Value Added Services
More people in Internet and faster connections increase the demand for Value Added Services
Slide 8: Market for Internet Security is large and growing
Market for Internet Security is large and growing The amount of digital content is increasing - there is major need for storage and sharing services 8 March 24, 2010 © F-Secure Corporation
Slide 9: Market trends
Market trends • The growth of Internet continues globally • The number of malware significantly increasing • Demand for new value added services Internet • Service-driven business model becomes more and more popular • Broadens the subscription base • New threats and needs • Enables new innovations S
Slide 10: Contents
Contents 1. Market review 2. Financial performance of 2009 3. Long-term objectives 10 March 24, 2010 © F-Secure Corporation
Slide 11: Highlights in 2009
Highlights in 2009 Strong growth continued in 2009 despite the challenging global economic environment 11 24.3.2010 © F-Secure Oyj
Slide 12: Highlights in 2009
Highlights in 2009 • Strong operator business the growth driver • First major acquisition, Steek SA in France in July, expanded the product portfolio of Value Added Services • Totally renewed Internet Security service F-Secure IS 2010 launched; “better in every way“ 12 March 24, 2010 © F-Secure Corp
Slide 13: Profitable growth continued
Profitable growth continued Growth • 2009: revenue EUR 125 million; M€ growth of 11% 120 100 Software as a Service 80 • Revenue by operator 60 business EUR 60 million; growth of 24% 40 20 14 % 12 % 11 % 20 % 22 % Financial efficiency 0 • EBIT EUR 24 million; 2004 2005 2006 2007 2008 19% of revenues
Slide 14: Development of EBIT margin
Development of EBIT margin • Prioritising growth over short 30 % term profitability • While seeking to improve the 25 % profitability sustainably towards EBIT of 25% over time; longer 20 % term profitability level driven by revenue growth and through 15 % systematic cost controls 10 % The graph show
Slide 15: Cash position
Cash position Capital repayment Dividend pay-out • Cash position has developed according 100 to the longer term efficient capital 90 Steek acquisition management objectives 80 • Cash position continued strong despite a 70 major acquisition in July 60 • Market value of liquid assets on 50 Dec. 31, 20
Slide 16: Steek acquisition – storage and digital content as value added service
Steek acquisition – storage and digital content as value added service • Software provider for online storage and data management solutions to fixed line and mobile operators • New value added services to consumers through operators • Strengthens F-Secure’s position in creating cooperation with larg
Slide 17: Operator partners: Software as a Service the growth driver
Operator partners: Software as a Service the growth driver
Slide 18: Strong operator business – a growth driver
Strong operator business – a growth driver • 2009 revenue growth 24% to 18000 EUR 60 million 16000 • At the end of 2009 over 200 partners in 14000 more than 40 countries 12000 • Operator business has been and will be 10000 kEUR the growth driver 8000 6000 4000 2000 0 Operator business includes inter
Slide 19: Over 200 operator partners globally
Over 200 operator partners globally
Slide 20: Share price performance and trading volumes
Share price performance and trading volumes Jan.1 – Dec.31, 2009 Millions 25 3 Average share price, eur 20 2,5 2 Trading volume, eur 15 1,5 10 1 5 0,5 0 0 11/09 01/09 02/09 03/09 04/09 05/09 06/09 07/09 08/09 09/09 10/09 12/09 turnover € average price 20 March 24, 2010 © F-Secure Corporation
Slide 21: Contents
Contents 1. Market review 2. Financial performance of 2009 3. Long-term objectives 21 March 24, 2010 © F-Secure Corporation
Slide 22: Long-term objectives
Long-term objectives • Continue to exceed average market growth • Scalability through strong operator-network • Geographic expansion Growth • Continue to increase Security as a Service penetration Security as a • Extend the customer base with Storage as a Service Service • New consumer centric user
Slide 23: Protecting the irreplaceable
Protecting the irreplaceable F-Secure.