Cliq Digital AG · XETR:CLIQ
Cliq Digital — FY2020 Earnings Presentation
28 slides from Cliq Digital's earnings presentation, Mar 17, 2021
Slide 1: FY 2020 Results Presentation
FY 2020 Results Presentation 17 March 2021
Slide 2: 1. 2020 Financials
1. 2020 FINANCIALS
Slide 3: Net Result
03 NET RESULT 2014 2015 2016 2017 2018 2019 2020 GR CA 47% 1.0 1.4 2.8 3.4 3.0 3.9 10.4 Net result in €m 1. 2020 Financials • €10.4m (+168% y/y) net result • €0.46 dividend per share proposal to AGM (40% payout ratio) • 2.8% dividend yield on the basis of the closing price on 30 December 2020
Slide 4: Financials | Key Figures
04 FINANCIALS I KEY FIGURES In millions of € FY 2018 FY 2019 FY 2020 ∆ FY19/20 4Q 2019 4Q 2020 ∆ 4Q19/20 Gross revenue 58.2 63.1 107.0 +69% 18.2 30.1 +65% Marketing spend 18.8 22.2 34.2 +54% 5.8 8.0 +38% EBITDA 3.9 5.8 15.9 +177% 2.0 5.1 +153% EBITDA margin 7% 9% 15% +6%p 11% 17% +6%p EPS (in €) 0.3
Slide 5: Gross Revenue | Geographical Split
05 GROSS REVENUE | GEOGRAPHICAL SPLIT FY 2019 FY 2020 ROW ROW North 9% 7% America €8.9m 14% Europe Europe €47.5m €48.4m North America €51.6m 45% 77% 48% 1. 2020 Financials
Slide 6: Profitable Growth | Quarterly Development
06 PROFITABLE GROWTH I QUARTERLY DEVELOPMENT In millions of € Marketing spend Gross revenue EBITDA EBITDA margin % 1Q 2019 2Q 2019 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 4Q 2020 15% 15% 17% 10% 11% 11% 11% 3% 5.1 13.8 1.1 4.8 14.5 1.4 6.5 16.8 1.9 5.8 18.2 2.0 7.8 20.2 2.2 8.5 26.9 4.1 9.8 29.7 4.5
Slide 7: Net Debt and Cash Flow
07 NET DEBT AND CASH FLOW In millions of € As at 31/12/2019 As at 31/12/2020 ∆ Cash and cash equivalents 0.7 4.9 4.7 Bank borrowings -10.3 -4.0 5.8 Net cash position -9.6 0.9 10.5 In millions of € FY 2019 FY 2020 ∆ Cash flow from operating activities 2.5 14.8 12.3 Cash flow from investing activities
Slide 8: Balance Sheet
08 BALANCE SHEET ASSETS EQUITY & LIABILITIES In millions of € 31/12/2019 31/12/2020 31/12/2019 31/12/2020 (In)tangibile fixed assets 49.5 50.8 Equity 46.7 55.6 Other non-current assets 3.4 4.4 Non-current liabilities 2.8 4.7 Receivables 8.2 9.1 Bank borrowings* 9.9 3.8 Other current assets 6.3 7.8 T
Slide 9: 2. Strategy
2. STR aTEGY ° @) CLIC
Slide 10: Evolution of CLIQ
10 EVOLUTION OF CLIQ FUTURE PRESENT PAST Multicontent • Global rollout of multibranded, multicontent portals Movies Series Music Monocontent Audiobooks Sports Games • Improved portfolio - additional Joke of the day Ringtones categories and increased content • More localised content Direct Media Buyi
Slide 11: Multibranded Portals | Multicontent for Everyone
11 MULTIBRANDED PORTALS | MULTICONTENT FOR EVERYONE One-stop Shop: Unlimited access to a vast selection of streaming content like movies, music, sports, audiobooks and games. Members in over 30 countries have access to our content portal 2. Strategy
Slide 12: All-in-One Product Offering | Licensed Content
12 ALL-IN-ONE PRODUCT OFFERING | LICENSED CONTENT ONE PORTAL FOR FIVE CATEGORIES MOVIES MUSIC SPORTS AUDIOBOOKS GAMES • Revised library of over 1,000 • Hundreds of thematically • Up-to-date, high-quality • Over 150,000 premium • Continuously updated select films curated playlists programmes on the a
Slide 13: Price Point Comparison | German Market
13 PRICE POINT COMPARISON I GERMAN MARKET Movies & Series ✓ ✓ ✓ ✓ ✓ ✓ ✓ Music ✓ ✓ ✓ ✓ ✓ ✓ Audiobooks ✓ ✓ ✓ ✓ ✓ Ebooks ✓ ✓ Sports ✓ ✓ ✓ ✓ Games ✓ ✓ ✓ PRICE IN € 6.99 6.99 11.99 14.99 14.99 14.99 14.99 17.99 19.95 29.99 7.99 PRICE IN € Exemplary price n/a n/a n/a n/a 14.99 n/a n/a n/a 23.94 n/a 40.87
Slide 14: Member Profile | Typical Characteristics
14 MEMBER PROFILE | TYPICAL CHARACTERISTICS • Price-conscious – Our members are value-orientated and avoid buying things they consider too expensive • Convenience – One-stop shop with a comprehensive multicontent offering and other member-friendly features • Gender-agnostic – Men between 35 and 54 y
Slide 15: 3. Marketing
ALLIN ONE — é Pau none _°3. MARKETING CLIC
Slide 16: Direct Marketing | Customer Journey
16 DIRECT MARKETING I CUSTOMER JOURNEY I: DIRECT MARKETING II: PAYMENT MEANS III: ACCESS TO CONTENT CLIQ’s member acquisition is based on direct (impulse) marketing via: • Search engines (e.g. Google, Bing) • Social Media (e.g. Facebook, Instagram) • Big publishers • Other channels 3. Marketing
Slide 17: CLIQ Factor | High Marketing Efficiency
17 CLIQ FACTOR I HIGH MARKETING EFFICIENCY 1 Marketing 2 Payments 2 6-months revenue: €75 = CLIQ Factor 1.5x 1 CPA: €50 CPA ARPU Cost per member acquisition Average revenue per member € 50.00 6-months revenue € 75.00 • i.e. every €1.00 spent on marketing will result within 6 months in a revenue of €
Slide 18: More Marketing, More Members, More Revenue
18 MORE MARKETING, MORE MEMBERS, MORE REVENUE €35m €34m 1.68x €26m €24m €22m €18m 1.51x 1.36x 2018 2019 2020 2018 2019 2020 Direct media buying spend Customer base value Affiliate marketing spend Number of members X remaining lifetime value per member CLIQ Factor • Profitability of marketing spend i
Slide 19: 4. Outlook
4. OUTLOOK
Slide 20: Our Markets
20 OUR MARKETS GROWTH RATES OF MAJOR MEDIA AND ENTERTAINMENT SECTORS $414bn CAGR 2020-2027 Audiobooks + 24.4% (prev. $255bn) Movies/Series + 20.4% GLOBAL DIGITAL MEDIA REVENUE Music + 17.8% FORECASTED FOR 2025 Games + 12.9% Statista Digital Market Outlook 2020 (Update March 2021) Grand Review Resear
Slide 21: Strategy | Future Profitable Growth
21 STRATEGY I FUTURE PROFITABLE GROWTH Objective: Sustainable revenue growth in existing and new geographies Focus: Customer satisfaction and brand equity Expertise: Increasing conversions with direct marketing Product portfolio: Improving content and adding categories M&A: Taking an opportunistic a
Slide 22: Growth Drivers
22 GROWTH DRIVERS Market Development Business Development • Strong market growth for streaming • More marketing by own media buying team entertainment services • Additional payment means • Improved technologies • Bolt-on acquisitions (content & streaming • Growing demand for affordable streaming ent
Slide 23: Outlook
23 OUTLOOK 2020 2021e Gross revenue €107m ≥ €140m • Topline growth drivers: Media buying & content increase EBITDA €16m ~ €22m • Profitable, organic growth forecasted across all regions EBITDA margin 15% ~ 16% • Scalable business model • More marketing, more members, more Marketing spend €34m ~ €46m
Slide 24: Appendix
APPENDIX
Slide 25: ESG | Initiatives & Targets
25 ESG | INITIATIVES & TARGETS Environment Social Governance • Green travel policy • Corporate culture • Code of conduct – Full public transport subsidies – Equal opportunities, diversity and inclusion – Bike scheme and no company car policy (e.g. myriad nationalities employed, also • Reporting syst
Slide 26: Management Board
26 MANAGEMENT BOARD Luc Voncken (*1970) 2012 onwards : CLIQ Digital AG (CEO) 2010 – 2012 : CLIQ B.V. 2003 – 2010 : Founder and CEO of Blinck International B.V. (predecessor of CLIQ) Visionary founder and game changer with deep understanding of the digital marketing arena and a wealth of experience a
Slide 27: Investor Relations | Financial Calendar 2021
27 INVESTOR RELATIONS | FINANCIAL CALENDAR 2021 Sebastian McCoskrie Head of Investor Relations +49 151 520 436 59 7 Jan. ODDO BHF Forum [email protected] 9 Feb. FY 2020 Preliminary Figures 17 March FY 2020 Annual Report 24 March Metzler MicroCap Days 14-15 April CF&B SmallCap Event 29 Apri
Slide 28: Disclaimer
28 DISCLAIMER This presentation is for information purposes only and does not constitutes a public offer to buy or sell or a public call for the purchase or sale of CLIQ Digital AG securities. Neither this presentation nor any other content of this presentation constitute the basis for the conclusio