Platform Group SE & Co. KGaA · XETR:TPG0
Platform Group SE & Co. KGaA — fashionette — H1 2021 Earnings Presentation
29 slides from Platform Group SE & Co. KGaA's earnings presentation, 2021
Slide 1: Half-Year 2021 Results
fashionette” HALF-YEAR 2021 RESULTS re ~~
Slide 2: H1 2021 Results Underline the Continued Execution of Our Dynamic Growth Strategy
H1 2021 RESULTS UNDERLINE THE CONTINUED EXECUTION OF OUR DYNAMIC GROWTH STRATEGY Continued net revenue growth of +25% YoY results in € 48.9m with an adjusted EBITDA of € 216k , driven by increases in all product categories. Investments in marketing pursued new customer growth of +47% YoY, leading to
Slide 3: Agenda
AGENDA • Business Update • Financial Update • Outlook • Q&A 3
Slide 4: Selective Highlights H1 2021
SELECTIVE HIGHLIGHTS H1 2021 +39% (YoY) 84% +38% (YoY) NON-DACH net revenue Mobile site visits Number of orders +47% (YoY) +38% (YoY) 29% New customers Handbag units sold Own brands share of jewelry orders Note: All figures unaudited. 4
Slide 5: +25% Net Revenue Increase from Strong Growth in Both DACH and Non-DACH Countries
+25% NET REVENUE INCREASE COMING FROM STRONG GROWTH IN BOTH DACH* AND NON-DACH* COUNTRIES TOTAL NET REVENUE DACH* NET REVENUE +22.9% +24.9% € 42.1m € 34.3m € 48.9m +18.7% € 21.9m € 18.4m € 39.1m +19.2% H1 2020 H1 2021 Q2 2020 Q2 2021 € 25.4m NON-DACH** NET REVENUE € 21.3m +38.9% € 6.8m +22.4% € 4.9m
Slide 6: Continuous Investments into Customer Acquisition Result in +52% Customer Growth
CONTINUOUS INVESTMENTS INTO CUSTOMER ACQUISITION RESULT IN +52% CUSTOMER GROWTH ACTIVE CUSTOMERS (LTM*) NEW CUSTOMERS +46.5% +52.0% 125.0k 410.8k +28.5% 85.3k 63.9k 49.8k 270.3k H1 2020 H1 2021 Q2 2020 Q2 2021 RETURNING CUSTOMERS +31.2% 107.9k +29.6% 82.3k 67.0k 51.7k H1 2020 H1 2021 H1 2020 H1 2021
Slide 7: Driving Our Strategic Priorities to Realize Profitable Growth
DRIVING OUR STRATEGIC PRIORITIES TO REALIZE PROFITABLE GROWTH 1 SELECTION EXPANSION 2 REGIONAL EXPANSION 3 CONTINUED INVESTMENTS … WITHIN EXISTING CATEGORIES … WITHIN EXISTING COUNTRIES … IN OUR IT PLATFORM Increase selection by winning missing brands and Replicate the success of fashionette’s core
Slide 8: Expanding Our Selection Within All Existing Categories
EXPANDING OUR SELECTION 1 WITHIN ALL EXISTING CATEGORIES +92% H1 H1 We have increased our assortment by 2020 2021 +45% SKUs +18% BRANDS. (H1 2021 vs. H1 2020) +38% 29% OWN BRANDS SHARE H1 2020 H1 2021 of jewelry orders in H1 2021. Note: All figures unaudited, units sold H1 2021. 8
Slide 9: Continuously Diversifying Our Brand Portfolio
CONTINUOUSLY DIVERSIFYING 1 OUR BRAND PORTFOLIO Luxury segment 86% OF OUR RETURNING Lower Higher CUSTOMERS* fashion grade fashion grade (classical styles) (trendy styles) bought products from ≥ 2 BRANDS. Premium segment Note: All figures unaudited. | * In H1 2021. 9
Slide 10: Leveraging on Cross-Selling Opportunities
LEVERAGING ON CROSS-SELLING 1 OPPORTUNITIES Women who bought a designer bag during the last 2 years, continue to shop for other adjacent accessory categories*: 100% 75% OF OUR RETURNING CUSTOMERS** 91% bought products from ≥ 2 CATEGORIES. 79% 79% Market research proves: Product category 69% BEAUTY &
Slide 11: Expanding Our Selection into Adjacent Product Categories
EXPANDING OUR SELECTION INTO 1 ADJACENT PRODUCT CATEGORIES The beauty category will be launched with a selection of more than 100 premium brands. • Beauty and care products as additional fashion accessories completing a woman’s look & feel. • True to our positioning we will offer premium and luxury
Slide 12: Meeting Our Customers' Beauty Needs
MEETING OUR CUSTOMERS‘ 1 BEAUTY NEEDS HIGH PRODUCT HIGH BEAUTY HIGH PURCHASE CATEGORY FIT INVOLVEMENT PROBABILITY 91% of women who fashionette customers 70% of our customers bought a designer bag are 16% more interested want to buy premium also shopped premium in selected beauty and luxury beauty an
Slide 13: New Logistics Partner Enabling Regional & Selection Expansion
NEW LOGISTICS PARTNER ENABLING 2 REGIONAL & SELECTION EXPANSION Transition of logistics operations and stock management completed within 10 weeks. stock End of stock • CW 22: Inbound volume managed by transfer in CW 31 new warehouse. • CW 26: All customer returns are managed by new warehouse. • CW 3
Slide 14: Engaging with Our Customers by Enhancing the Customer Experience
ENGAGING WITH OUR CUSTOMERS BY ENHANCING 3 THE CUSTOMER EXPERIENCE AUTOMATED & PERSONALIZED AUTOMATED & PERSONALIZED MARKETING CAMPAIGNS SHOP CONTENT • Continuous increase and • Personalized size comparison optimization of automated and tool on detail pages. personalized newsletters. • Product sorti
Slide 15: Successfully Closed Acquisition of Brandfield on 1 July
SUCCESSFULLY CLOSED ACQUISITION OF BRANDFIELD ON 1 JULY TO ACCELERATE INTERNATIONAL PROFITABLE GROWTH Brandfield is a leading online retailer for premium fashion accessories based in Groningen, Netherlands. Attractive financial profile with a net revenue of approx. € 40m and an EBITDA of approx. € 3
Slide 16: Benefiting from Short-Term Cross-Company Synergies
BENEFITING FROM SHORT-TERM CROSS-COMPANY SYNERGIES 1 2 3 SELECTION OWN BRANDS PROPRIETARY IT & EXPANSION DEVELOPMENT DATA PLATFORM Increase third-party brands Combine Brandfield’s and Starting to integrate by +25% at Brandfield and fashionette’s own brands Brandfield to leverage expand fashionette‘s
Slide 17: Agenda
AGENDA • Business Update • Financial Update • Outlook • Q&A 17
Slide 18: +25% Net Revenue Increase from Strong Growth in Both DACH and Non-DACH Countries
+25% NET REVENUE INCREASE COMING FROM STRONG GROWTH IN BOTH DACH* AND NON-DACH* COUNTRIES TOTAL NET REVENUE DACH* NET REVENUE +22.9% +24.9% € 42.1m € 34.3m € 48.9m +18.7% € 21.9m € 18.4m € 39.1m +19.2% H1 2020 H1 2021 Q2 2020 Q2 2021 € 25.4m NON-DACH** NET REVENUE € 21.3m +38.9% € 6.8m +22.4% € 4.9m
Slide 19: Dynamic Customer Growth Translates into +38% More Orders
DYNAMIC CUSTOMER GROWTH TRANSLATES INTO +38% MORE ORDERS NUMBER OF ORDERS RETURN RATE (IN % OF ORDER VALUE) -75 bps +35 bps +38.0% 43.5% 42.7% 42.1% 42.4% 335.6k 243.3k +29.0% H1 2020 H1 2021 Q2 2020 Q2 2021 171.7k AVERAGE ORDER VALUE 133.1k -10.2% -7.1% € 284 € 278 € 255 € 258 H1 2020 H1 2021 Q2 20
Slide 20: Effective Marketing Drives New Customer Growth
EFFECTIVE MARKETING DRIVES NEW CUSTOMER GROWTH NEW CUSTOMERS CUSTOMER ACQUISITON COST +26.0% +35.1% +46.5% € 54.2 € 50.3 125.0k € 43.0 € 37.2 85.3k +28.5% H1 2020 H1 2021 Q2 2020 Q2 2021 63.9k MARKETING COST RATIO (IN % OF ORDER VALUE) 49.8k +282 bps +224 bps 7.9% 7.3% 5.1% 5.0% H1 2020 H1 2021 Q2 2
Slide 21: Balancing Increasing Marketing Costs with Profitable Growth
BALANCING INCREASING MARKETING COSTS WITH PROFITABLE GROWTH • Lower gross margin was impacted by H1 2020 H1 2021 YoY Q2 2020 Q2 2021 YoY an early and competitive sales phase (in % of Net revenue) in the fashion and accessories market Gross Margin 39.0% 37.6% -142 bps 39.7% 37.1% -264 bps segment and
Slide 22: Inventory Build-Up Reflects Investments in Selection and Availability
INVENTORY BUILD-UP REFLECTS INVESTMENTS IN SELECTION AND AVAILABILITY AS WELL AS THE PLANNED GROWTH IN H2 2021 TRADE WORKING CAPITAL RATIO (IN % OF NET REVENUE LTM) TRADE WORKING CAPITAL DEVELOPMENT H1 2021 € +6.6m € 28.1m € 27.2m 27.1% 26.8% € 21.5m 22.7% € 30.7m € 30.1m Inventory € 21.9m Trade Rec
Slide 23: Cash Development in H1 2021 Mainly Driven by Investments in Organic Growth
CASH DEVELOPMENT IN H1 2021 MAINLY DRIVEN BY INVESTMENTS IN ORGANIC GROWTH CASH BRIDGE H1 2021 € 31.8m € 0.0 € 21.3m € -9.8m € -0.6m Cash Position Free Cash Flow FX Effects Financing Cash Flow * Cash Position Dec. 2020 June 2020 Note: All figures unaudited. * Cash flow from financing activities is d
Slide 24: Agenda
AGENDA • Business Update • Financial Update • Outlook • Q&A 24
Slide 25: Expecting +40% to +51% Net Revenue Growth for the Financial Year 2021
EXPECTING +40% TO +51% NET REVENUE GROWTH FOR THE FINANCIAL YEAR 2021 TOTAL NET REVENUE PRO FORMA FORECAST 2021: € 154m – € 164m • The pro forma forecast, assuming the CONSOLIDATED GUIDANCE 2021: consolidation of Brandfield for the full € 133m – € 143m calendar year 2021, translates into an expected
Slide 26: Agenda
AGENDA • Business Update • Financial Update • Outlook • Q&A 26
Slide 27: KPI Definitions
KPI DEFINITIONS ACTIVE CUSTOMERS Defined as the number of customers placing at least one order in the last twelve months on one of the Company's websites in the measurement period, irrespective of returns. ADJ. EBITDA Defined as earnings before interest, taxes, depreciation and amortization excludin
Slide 28: Disclaimer and Notes
DISCLAIMER AND NOTES BY VIEWING THIS PRESENTATION, YOU AGREE TO BE BOUND BY THE FOLLOWING TERMS AND CONDITIONS REGARDING THE INFORMATION DISCLOSED IN THIS PRESENTATION. THIS PRESENTATION HAS BEEN PREPARED BY FASHIONETTE AG (THE "COMPANY"). This disclaimer shall apply in all respects to the entire pr
Slide 29: Thank You
THANK YOU fashionette AG Investor Relations [email protected] | 29