Growens S.p.a. · MIL:GROW
Growens — MailUp Group — Investor Day (November 2018)
46 slides from Growens's investor day presentation, Nov 27, 2018
Slide 1: MailUp Group Overview and Latest Results
MAILUP GROUP OVERVIEW AND LATEST RESULTS November 2018
Slide 2: Agenda
AGENDA 01 ABOUT US 02 1H RESULTS OVERVIEW 03 DATATRICS ACQUISITION 04 INDUSTRY AND STRATEGY 05 INVESTOR INFORMATION 2
Slide 3: MailUp Group at a Glance
MAILUP GROUP AT A GLANCE INNOVATION GROWTH GLOBAL EXPANSION • Fast-growing industry: cloud • Organic growth: • International revenues from 10% to software/marketing technology Revenues 45% since IPO • Focus: data-driven omni-channel ✓ +26% FY 2017 • Serving 20,700+ companies in 115+ marketing automa
Slide 4: From Startup to International Scaleup
FROM STARTUP TO INTERNATIONAL SCALEUP • Organic and M&A growth • From Cremona (Italy) to Europe, Americas, Asia ACQUIRED DATATRICS €5M GOVERNMENT • One of the leading European players in cloud marketing technologies GRANT MAILUP ENTERPRISE LAUNCH. ABB: RAISED € 6M. REVENUES ACQUIRED MAILCULT +36% 40
Slide 5: A Tech Group Built on Strong Synergies
A TECH GROUP BUILT ON STRONG SYNERGIES GROUP / PARENT ~40 employees HOLDING Strategy, M&A, Finance/Accounting, IR, IT, Administration, HR, Legal BUSINESS UNITS ~150 employees Spain + LatAm Global Global Global Nordics Global Freemium Tool Professional Services SMS Services MARKETS Email Editor AI Da
Slide 6: Needs We Serve / 1
NEEDS WE SERVE / 1 Most marketing departments within companies (and SW developers serving them) have these needs SW Create Developers Send templates for receipts, newsletters, Transactional Messages welcome series, … (notices, order receipts, password reminders, …) Marketing Departments Engage Send
Slide 7: Needs We Serve / 2
NEEDS WE SERVE / 2 Why choose MailUp Group? SW Developers • Easier • Multi-channel • Faster • Personalized • Consistent • Delivered! • Cost effective Marketing Departments CREATION TRANSACTIONAL JOURNEYS BROADCASTS • Data-driven • Multi-channel • Omni-channel • Scalable • AI-enhanced • Curated or au
Slide 8: P&L / 1 Revenues, EBITDA
P&L / 1 REVENUES EBITDA CAGR+33% CAGR+42% ORGANIC YOY ORGANIC YOY ORGANIC YOY ORGANIC YOY +26% +38% +20% +56% 30 27,3 25 21,6 11,2% 10,5% 9,2% 10,3% 10,4% 7,1% 8,0% 20 18,0 15 13,1 2,9 3 2,4 10 9,5 1,9 8,0 2 6,4 1,2 5 1 0,8 0,7 0,5 0 0 FY 2013 FY 2014 FY 2015* FY 2016 FY 2017 1H 2017 1H 2018 FY 2013
Slide 9: P&L / 2 Personnel and R&D
P&L / 2 PERSONNEL AND HEADCOUNT R&D (on sales) CAGR+19% 169 142 140 132 137 8 7,4 33,8% 14,6% 12,9% 10,3% 10,8% 7 6,8 85 4 6 70 5 4,5 4,4 3 1,3 4 3,8 3,5 1,5 1,3 3,1 3 2 0,8 2 2,2 0,4 1 1,9 1 1,7 0,9 1,2 0 0 FY 2013 FY 2014 FY 2015* FY 2016 FY 2017 1H 2017 1H 2018 FY 2015* FY 2016 FY 2017 1H 2017 1H
Slide 10: Balance Sheet
BALANCE SHEET SHAREHOLDERS’ EQUITY NET CASH POSITION (before M&A) ABB 14,5 15 14,0 12 8,9 8 7,3 9 IPO 7,0 6,2 6 6 4 3,3 3,3 3 2 1,0 0,6 1,0 0,1 0 0 FY 2013 FY 2014 FY 2015* FY 2016 FY 2017 1H 2018 FY 2013 FY 2014 FY 2015* FY 2016 FY 2017 1H 2018 *In 2016 Group transitioned to IFRS accounting standar
Slide 11: 1H 2018 Analysis by Business Unit
1H 2018 ANALYSIS BY BUSINESS UNIT Revenues EBITDA 1H 2018 1H 2017 Var% 1H 2018 1H 2017 Var% MailUp 6,2 5,5 13,8% 1,1 1,4 -23,8% Agile Telecom 10,2 6,2 64,1% 1,3 0,8 50,4% Acumbamail 0,5 0,3 48,8% 0,2 0,1 25,0% Globase 0,4 0,5 -31,7% (0,1) (0,3) 62,9% BEE 0,4 0,2 131,5% 0,1 (0,2) 150,3% Holding 0,3 0
Slide 12: Datatrics Acquisition
DATATRICS ACQUISITION COMPANY PRODUCT • Fast-growing startup with 20+ employees, € 0.3M revenues in 2017 • Predictive data-driven omni-channel orchestration for customer • +43% clients growth in 1H 2018 engagement and journey management • 100+ clients including KLM, LeasePlan, BP, CarGlass, Rabobank
Slide 13: Customer Data Platform + Prediction & Decision
CUSTOMER DATA PLATFORM + PREDICTION & DECISION 15
Slide 14: Customer Data Platform + Prediction & Decision
CUSTOMER DATA PLATFORM + PREDICTION & DECISION + Chat + Push notifications + …. Biggest-worth potential areas for further development Datatrics Areas of Expertise MailUp Group (excl. Datatrics) Areas of Expertise 16
Slide 15: Datatrics / Product, Business, Technology
DATATRICS / PRODUCT, BUSINESS, TECHNOLOGY 17
Slide 16: Datatrics / Create 360° Customer Profile
DATATRICS / CREATE 360° CUSTOMER PROFILE 18
Slide 17: Datatrics / Future Behaviour
DATATRICS / FUTURE BEHAVIOUR 19
Slide 18: Datatrics / Output
Website Embedded content RetailTrics RetailTrics Comparison Acer Chromebook 14 CB3-431-C5K7 Acer Chromebook 14 CB3-431-C5K7 Decision This notebook was sold 5 times today Don’t miss this offer. Only 3 left! ge" ge" Persuade with social proof Persuade with scarcity Loyal customer Single minded custome
Slide 19: The Competitive Landscape
THE COMPETITIVE LANDSCAPE 21
Slide 20: Industry Structure and Group Positioning
INDUSTRY STRUCTURE AND GROUP POSITIONING MESSAGE DELIVERY EMAIL SMS SOCIAL CHAT PUSH VOICE DISPLAY … for Developers/IT PLATFORMS SMS EMAIL MARKETING CRM AI ECOMMERCE ANALYTICS … for Marketers MARKETING MARKETING AUTOMATION CONTENT CREATION COLLABORATI LANDING GRAPHIC VIDEO HTML for Designers/Develop
Slide 21: Business Model and Investment Case / 1
BUSINESS MODEL AND INVESTMENT CASE / 1 EXPLOITING A GROWING MARKET • Hundreds of new solutions / startups • The Marketing Technology sector (i.e., a cloud-based launched ecosystem of marketing softwares) expanded by 40% this year*. • Wider use of data / AI • Market consolidation trend, with bigger •
Slide 22: Business Model and Investment Case / 2
BUSINESS MODEL AND INVESTMENT CASE / 2 …LEVERAGING ACQUIRED LEADERSHIP AND A STRONG CASH POSITION… • Email and mobile messaging are the core activities, complemented innovative marketing technology solutions • Services delivered to 20,700+ companies in 115+ and professional consulting services count
Slide 23: Business Model and Investment Case / 3
BUSINESS MODEL AND INVESTMENT CASE / 3 …VIA ORGANIC AND M&A DEVELOPMENT • Capitalising on R&D efforts to ride the evolution • Expanding the set of integrated solutions with third-party • Boosting ARPU to secure business against companies such as CRM, CMS, e-commerce, advertising… competition by comm
Slide 24: Stock Information
STOCK INFORMATION SHAREHOLDERS Gorni • The share capital of the parent company includes the Group’s Founders Nazzareno* and Management Team Group: 11,6% • Matteo Monfredini, Chairman • Nazzareno Gorni, CEO Market** Azzali Luca* • Luca Azzali, Director BU MailUp 34,4% 11,6% • Matteo Bettoni, Director
Slide 25: ESG (Environment, Sustainability, Governance)
ESG (Environment, Sustainability, Governance) CARING for employees, environment, people, community, investors ❤ COMMUNITY CO-WORKING SPACE ❤ DIVERSITY FOUNDED IN 2014 W/ POLITECNICO DI MILANO, ❤ GOVERNANCE 44% WOMEN CREMONA CITY HALL AND OTHERS TO FOSTER INDEPENDENTS: 2/5 LOW TURNOVER EDUCATION AND
Slide 26: Stock Information
STOCK INFORMATION AIM ITALIA • MailUp shares are admitted to trading on AIM Italia ISIN IT0005040354 IPO Price 1.92 Eur (29 Jul 2014) (Multilateral Trading Facility managed by the Italian BIT MAIL Stock Exchange) since July 25th, 2014 Current Price 2.45 Eur Bloomberg MAIL IM (22 Nov 2018) • Total 14
Slide 27: List of Parties
LIST OF PARTIES NOMAD AUDIT & ACCOUNTING SPECIALIST BROKER LEGAL ADVISOR 29
Slide 28: Contacts
SUBSCRIBE! CONTACTS INVESTOR MONTHLY NEWSLETTER Address Viale Francesco Restelli, 1 20124 Milan, ITALY Phone +39 02 71040485 Email [email protected] 30
Slide 29: Annexes
ANNEXES 31
Slide 30: 1H 2018 P&L
1H 2018 P&L Item CONSOLIDATED INCOME STATEMENT AS OF 30 JUNE 2018 30/06/18 % 30/06/17 % Change Ch% Revenue from Email 5,066,870 28.1% 4,702,584 35.9 % 364,286 7.7 % Revenue from SMS 11,951,648 66.3% 7,512,506 57.4 % 4,439,142 59.1 % Revenue from BEE 425,933 2.4% 183,624 1.4 % 242,309 132.0 % Revenue
Slide 31: FY 2017 P&L
CONSOLIDATED INCOME STATEMENT 31/12/2017 FY 2017 P&L Income statement Email revenues 31/12/17 % 9,431,330 34.5% 31/12/16 % 8,473,792 39.2% Delta Delta % 957,538 11.30% SMS revenues 15,933,655 58.3% 11,444,666 52.9% 4,488,989 39.22% Professional service revenues 588,868 2.2% 792,175 3.7% ( 203,307) (
Slide 32: 1H 2018 Balance Sheet
CONSOLIDATED BALANCE SHEET AS OF 30 JUNE 2018 1H 2018 BS Item Intangible fixed assets 30/06/18 4,139,730 31/12/17 3,970,669 Change 169,061 Ch% 4.3 % Goodwill 9,829,834 9,829,834 0 0.0 % Tangible fixed assets 980,231 1,011,029 (30,799) (3.0) % Financial fixed assets 198,577 237,538 (38,961) (16.4) %
Slide 33: 1H 2018 Cash Flow Statement
1H 2018 CASH FLOW STATEMENT CASH FLOW STATEMENT Item 30/06/18 30/12/17 Profit (Loss) for the period 513,113 611,809 Current income taxes 377,285 585,331 Deferred /(Pre-paid) taxes 128,743 5,162 Interest payable/(interest receivable) (2,808) 27,190 Disinvestment realisable value Exchanges (Gains)/Los
Slide 34: Company Revenues 2017 and Key Facts 2018
COMPANY REVENUES 2017 KEY FACTS 2018 BY PRODUCT AND BUSINESS UNIT* Holding 3,7% Globase 3,4% BEE 2,0% 1) New channels R&D (Facebook Messenger, Acumbamail 2,3% Telegram, Whatsapp…) Other 3,2% Agile Telecom 49,3% 2) € 5.1M grant from MISE (Agenda Digitale) 3) Acquisition of residual 30% stake in Profe
Slide 35: Needs We Serve / Marketing Departments
NEEDS WE SERVE / MARKETING DEPARTMENTS Most marketing departments within companies have all 4 of these needs Create Send transactional templates for receipts, newsletters, messages (notices, order receipts, welcome series, … password reminders, …) Marketing departments… Engage Send broadcasts prospe
Slide 36: Needs We Serve / Developers
NEEDS WE SERVE / DEVELOPERS SW Developers… Enable users to create Enable users to send templates for receipts, newsletters, messages (newsletters, PIN codes, welcome series, … notices, password reminders, …) 38
Slide 37: Needs We Serve
NEEDS WE SERVE Why chose MailUp Group to satisfy those needs? • Easier • Multi-channel • Faster • Personalized • Consistent • Delivered! • Cost effective CREATION TRANSACTIONAL JOURNEYS BROADCASTS • Data-driven •Multi-channel •Scalable • Omni-channel •Curated or automated • AI-enhanced 39
Slide 38: Products and Markets
DEVs MARKETING Professional Services PRODUCTS AND MARKETS 40
Slide 39: MailUp
MAILUP Established as an email service provider vendor, the company now delivers customers with its multichannel digital cloud platform, offering high-quality solutions with a "get what you want approach“ • Market leader in the Email and SMS marketing & automation in Italy and among the top ten play
Slide 40: Agile Telecom
AGILE TELECOM Based in Italy, as an outright wholesale SMS factory, the subsidiary is a telecom provider (OLO - Other Licensed Operator) that offers SMS delivery for both promotional and transactional messages (One-Time Password/ Notifications/ Alerts and so on). • Leader in the SMS industry in Ital
Slide 41: Agile Telecom: The A2P Messaging Gateway
AGILE TELECOM: THE A2P MESSAGING GATEWAY COMPANIES 300M SOFTWARE APPLICATIONS 10K SMS 1K GATEWAYS MOBILE 1.2K CARRIERS 4.7B END USERS 43
Slide 42: Acumbamail
ACUMBAMAIL Spanish based email marketing provider, it also offers SMS packages and transactional services with a freemium business model suitable for micro-small businesses. It allows customers to create, send, and manage their single or multi-communication campaigns by also tracking real-time perfo
Slide 43: Globase
GLOBASE Established in Denmark, it delivers advanced digital marketing automation software for business and professional consulting services. It allows customers to create communication campaigns with data- driven personalization, audience segmentation (i.e., targeting a specific audience). • 300+ m
Slide 44: BEE – Best Email Editor
BEE – BEST EMAIL EDITOR Organised according to the dual company model, with the business team in the USA and the technological team in Italy, the start-up based in Silicon Valley focuses on the development and commercialization of the innovative email template editing tool BEE • BEE is becoming the
Slide 45: Datatrics
DATATRICS Founded in 2012 with the mission of aggregating marketing and technology to allow marketers to exploit the power of data and artificial intelligence • Its proprietary predictive marketing platform can be used on a plug-and-play basis to create ever more relevant and omni-channel customer e
Slide 46: Disclaimer
Disclaimer This presentation (the “Document”) has been prepared by MaiUp S.p.A. (“MailUp” or the “Company”) solely for information purposes on the Company and the Group (“MailUp Group”). In accessing the Document, you agree to be bound by the following restrictions, terms and conditions. The Documen