Digital Value Spa · MIL:DGV
Digital Value Spa — Investor Presentation (January 2019)
24 slides from Digital Value Spa's investor presentation, January 2019
Slide 1: Company Profile
COMPANY PROFILE January 2019
Slide 2: Summary
Summary CORPORATE OVERVIEW IT Market and DV position Financial Highlights Financial Securities Annex 2
Slide 3: Digital Value: overview
Digital Value: overview • Digital Value is one of the leading player of Italian Information Technology (“IT”) market, resulting from the merger of two major companies operating in Technology and Service Solutions Industry (Italware S.r.l. and ITD Solutions S.p.A.) • Major System Integrator of the It
Slide 4: Digital Value: reference player for IT in Italy
Digital Value: reference player for IT in Italy • The IT market for the Large Account sector (Top Clients, companies with over 500 employees) has the largest expected growth rate in the market over the next three-year period (>5%*) and accounts for 53% of the total Italian IT market. • Within the La
Slide 5: The best possible solution: Digital Value Chain
Digital…Value Chain Specific client information and business needs are collected, analysing both explicit and implicit client needs. This is carried out independently from the technology to be used. ANALYSIS OF CLIENT NEEDS Evaluation factors are made available. Analysis of applicable solutions, exa
Slide 6: Digital Value: main market sectors covered
Digital Value: main market sectors covered ❑ TELECOMMUNICATION & MEDIA ▪ Great expertise and relevant market share with skilled and dedicated teams of people focused on intelligence netwoking and infrastructure ▪ To support Tlc players offering added value solutions ❑ INDUSTRY ▪ Partner of some of m
Slide 7: Some of our clients
Some of our clients: BANKS AND PUBLIC TELCO AND MEDIA INSURANCE INDUSTRY ADMINISTRATION COMPANIES 7
Slide 8: IT Market and DV Position
Summary Corporate overview IT MARKET AND DV POSITION Financial Highlights Financial Securities Annex 8
Slide 9: Italian IT market: 2013-2019E
Italian IT market: 2013-2019E Italian IT market trends IT Italian market (2016-2019E) in Eu Mn CAGR 2015-2019E 2.1% 19,750 19,019 18,616 19,255 20000 -4.1% 18,470 18,817 +2.6% -2.1% 18,188 +1.9% +2.3% -2.3% +1.5% ❑ After years of structural weakness (2007 - 2014), the Italian IT market has inverted
Slide 10: Top Clients Sector: the most important and dynamic IT segment in Italy
Top Clients Sector: the most important and dynamic IT segment in Italy 19.750 19.019 18.616 18.188 18.470 18.817 19.255 +2,6% 20000 +2,3% -4,1% -2,1% -2,3% +1,5% +1,9% 2.150 2.170 The Top Clients (Large Accounts) sector, 2.657 2.140 2.478 2.206 2.153 903 where Digital Value is positioned: 860 880 83
Slide 11: Digital Value and its growth potential - 1/2
Digital Value and its growth potential - 1/2 ❑ Growing market share thanks to the Group’s commercial and technical synergies and its potential aggregative role ❑ Reinforcement of sales force in geographical or sectors with lower current coverage ❑ Reinforcement of its strategic role in the Top Clien
Slide 12: Digital Value and its growth potential 2/2
Digital Value and its growth potential 2/2 ❑ STRENGTHS ▪ Innovative design and integration skills/management of IT solutions ▪ Multidisciplinary technical skills and numerous specialist certifications ▪ Historic relationships with the principal international IT Vendors ▪ Consolidated Customer Set ▪
Slide 13: Investment opportunities
Investment opportunities ❑ GROWING AND APPEALING SECTOR Growth opportunities both for internal lines and through acquisitions ❑ BUSINESS DEVELOPMENT AND PROFITABILITY In line with the comparable European best in class peers (Ebitda margin 8%) ❑ CASH FLOW GENERATION AND NFP EVOLUTION Structural divid
Slide 14: Financial Highlights
Summary Corporate overview IT Market and DV position FINANCIAL HIGHLIGHTS Financial Securities Annex 14
Slide 15: Track record
Track record ❑ Continuous and sustainable growth track record 300 278 259 250 214.6 CAGR 2013-2018 200 20,9% 150 145.9 125.2 107.5 100 50 0 2013 2014 2015 2016 2017 2018E In euro M 15
Slide 16: Financial highlights 2017A proforma 2018E 2019E (consensus)
Financial highlights 2017A proforma 2018E 2019E (consensus) 320 30 CAGR: 9,15% 307.4 CAGR: 14% 310 25.6 25 22.6 300 19.7 290 20 8,4% 280 278.0 8,1% Revenues ** EBITDA (Eu Mn, 15 (Eu Mn) 270 % on revenues) 260 258.0 10 7,6% 250 5 240 230 0 2017PF 2018E 2019E 2017PF 2018E 2019E 25 23.6 16 CAGR: 18,9%
Slide 17: Financial highlights: Net Financial Position and Shareholders Equity
Financial highlights 2017A proforma 2018E 2019E (consensus) Group Net Financial Position (NFP) (Eu Mn) Group Shareholders Equity (Eu Mn)* 05 80 74,0 1.8 70 00 2017PF 2018E 2019E 59.3 60 (05) 50 46.8 (10) 40 (15) (15.1) 30 (20) 20 10 (25) (25.4) 0 (30) 2017PF 2018E 2019E 17
Slide 18: Digital Value: breakdown revenues by sectors 2017-2018E
Digital Value: breakdown revenues by sectors 2017-2018E Utilities Utilities 5% 6% Finance Public Finance 13% Administration 15% Public 29% Administration 33% Industry 14% Industry 16% Telco Telco 35% 34% 2017 2018E 18
Slide 19: Financial Securities
Summary Corporate overview IT Market and DV position Financial Highlights FINANCIAL SECURITIES Annex 19
Slide 20: Group structure
Group structure January 2019 KEY PEOPLE Promoters MARKET DV HOLDING MASSIMO ROSSI – Chairman of the Board Year of birth 1961. Graduated from the Scientific High School “Gabriele D’Annunzio” in Rome. Founder (1988) of 2.24% 24,71% 73.05% of which 29.56% PAS Italware he has been able to manage the gro
Slide 21: Shareholding
Shareholding 2,24% SHAREHOLDING - AS AT TODAY WARRANTS - WDGV ISIN IT0005347437 24,71% ❖ n. 2.250.000 ISSUED WARRANTS - € 9,50 STRIKE PRICE - € 0,10 EXERCISE PRICE SHAREHOLDER SHARE TYPE # % ordinary 3.981.562 43,72% ❖ MONTHLY CONVERSION RATIO DV Holding SpA PAS 2.670.671 29,33% (average monthly sha
Slide 22: Annex
Summary Corporate overview IT Market and IT position Financial Highlights Financial Securities ANNEX 22
Slide 23: Digital Value: pro-forma P&L and BS as of 31.12.2017
Digital Value: pro-forma P&L and BS as of 31.12.2017 (in thousands of Euros) NON-CURRENT ASSETS 30,723 NET EQUITY 46,779 Tangible fixed assets 5,275 Share capital 1,490 Other intangible fixed assets 204 Other reserves 34,362 Goodwill 23,268 FTA reserve 160 Financial assets 1,802 Profit (loss) for th
Slide 24: www.digitalvalue.it
www.digitalvalue.it