Platform Group SE & Co. KGaA · XETR:TPG0
Platform Group SE & Co. KGaA — The Platform Group — Investor Day (October 2023)
44 slides from Platform Group SE & Co. KGaA's investor day presentation, Oct 19, 2023
Slide 1: Introducing The Platform Group
INTRODUCING THE PLATFORM GROUP 19 October 2023 1
Slide 2: The Capital Market Presentation Today
THE CAPITAL MARKET PRESENTATION TODAY SECTIONS SPEAKER TIME 1. TPG OVERVIEW Dr. Dominik Benner 11:00 2. WHAT DO WE DO? Dr. Dominik Benner 11:30 3. SEGMENT OVERVIEW Dr. Dominik Benner, Laura Vogelsang 12:30 Q&A Session 4. MARKET OVERVIEW Dr. Dominik Benner 13:00 5. FINANCIALS Reinhard Hetkamp 13:15 6
Slide 3: The Platform Group Overview
1 THE PLATFORM GROUP OVERVIEW 3
Slide 4: Our Management Structure
OUR MANAGEMENT STRUCTURE Supervisory Board Stefan Schütze ▪ Rolf Sigmund ▪ Dominik Barton (Chairman) ▪ Jens Wasel ▪ Florian Müller Management Board CFO fashionette AG Dr. Dominik Benner Laura Vogelsang Reinhard Hetkamp CEO Mgmt. Board CFO ▪ TPG since 2012 ▪ fashionette since 2018 ▪ >20 years experie
Slide 5: TPG Pro-Forma Consolidated Guidance
TPG PRO-FORMA CONSOLIDATED GUIDANCE 2023 FY Mid-term Adj. EBITDA Revenue Adj. EBITDA GMV Leverage GMV Margin €440m €20m €700m 1.5 – 2.3x €1bn 7-10% We are highly confident of achieving our targets Source: Company 5
Slide 6: What We Do
WHAT WE DO 1 We check and produce content at products place 2 We check quality and optimize pricing 3 We use our software and take it on our platform → Selling it worldwide 4 We make the full logistic, tax, customs and installation 6
Slide 7: What We Do
WHAT WE DO 1 We check and produce content at products place 2 We make pricing (margin- based) 3 We use our software and take it on our platform → Selling EU- wide to local dentists 4 We make the full logistic, tax, customs and installation 7
Slide 8: Pro Forma Shareholder Structure
PRO FORMA SHAREHOLDER STRUCTURE Free float 20% The Benner Holding as a single family office operates in a diversified range of sectors including Real Estate, Trade, Investments, e-Commerce, Agriculture and Energy and was founded in 1882 The Management Board of TPG is exploring Benner Holding GmbH op
Slide 9: The Platform Group's History
THE PLATFORM GROUP’S HISTORY Founded The Platform Group EGM approval of the merger local retailer for shoes and Beginning of industry focused strategy acquires 38.52 % of of The Platform Group consumer goods with „Outfits24“ fashionette AG and fashionette AG 1882 2018 2022 Sep 2023 2012 2020 Q1 2023
Slide 10: Mission Statement
MISSION-STATEMENT To be Europe’s leading, profitable Platform Group Source: Company 10
Slide 11: Bringing together the best characteristics of Software & e-Commerce companies
Bringing together the best characteristics of Software & e-Commerce companies PLATFORM GROUP E-COMMERCE PLAYER Higher margin / less costs SOFTWARE PLAYER Diversified / pan sector Typically low profit margin Marketing & sales costs Sustainable revenue base Significant logistics costs Typically high p
Slide 12: Investment Highlights
INVESTMENT HIGHLIGHTS 5,262 Partners 1 Leading software specialist enabling e-Commerce for small + medium sized partners (CAGR +36% from 2019-2023) 21 Acquisitions 2 Track record of successful platform acquisitions since 2018 2.87 million Customers 3 Scalable software solution driving massive custom
Slide 13: What Do We Do?
2 WHAT DO WE DO? 13
Slide 14: We Are a Software Specialist Offering Full E-Commerce Access to SMEs
WE ARE A SOFTWARE SPECIALIST THAT OFFERS FULL E-COMMERCE ACCESS TO SMALL & MEDIUM BUSINESS PARTNERS Business partners B2B + B2C customers Scalable and flexible integration of new partners Platform integration Sales services Aftersales services Provision of framework contracts (e.g. utilities, insura
Slide 15: Our Partners Have Consistently Grown
OUR PARTNERS HAVE CONSISTENTLY GROWN Number of Partners Partners by Segment 2022 6.000 5.500 Service & Retail Goods 5.000 4.872 527 Industrial Goods 243 4.000 3.940 3.000 3.008 Consumer Goods 2.271 2.000 1.600 1.000 Freight Goods 1.831 0 2019 2020 2021 2022 2023E Source: Company 15
Slide 16: Local Partners Get Access to New Global Customer Base
LOCAL PARTNERS GET ACCESS TO NEW GLOBAL CUSTOMER BASE VIA MULTIPLE PLATFORMS AND ALL PROCESSES MANAGED BY TPG CONSUMER GOODS FREIGHT GOODS Small- & medium-sized B2B + B2C business partners customers INDUSTRIAL GOODS SERVICE & RETAIL 10 local GOODS Stores Source: Company 16
Slide 17: Our Partners Gain Access to a Large and Growing Customer Base
OUR PARTNERS GAIN ACCESS TO A LARGE AND GROWING CUSTOMER BASE WHICH DRIVES GMV Number of Customers GMV Development in m in €m 4 800 €700m 3,25m 700 2,87m €613m 3 600 €505m 500 2,12m 2 400 €316m 1,40m 300 €240m 1 0,80m 200 100 0 0 2019 2020 2021 2022 2023E 2019 2020 2021 2022 2023E €1BN GMV GUIDANCE
Slide 18: Track Record of New Platforms & Acquisitions
TRACK RECORD OF NEW PLATFORMS & ACQUISITIONS 03/2019 08/2020 09/2020 10/2020 11/2021 07/2021 01/2022 02/2023 02/2018 11/2020 08/2020 10/2020 11/2021 11/2021 12/2021 02/2022 Q4/2023 Source: Company 18
Slide 19: Scalability: Interaction of Growth Drivers
SCALABILITY: INTERACTION OF GROWTH DRIVERS # PARTNERS # ACTIVE CUSTOMERS Leads to more products and this to more +13% +13% FY23 FY23 5,500 3.3m GMV Leads to Leads to more higher +14% FY23 € 700m Source: Company 19
Slide 20: Seamless Integration of Proprietary Software with ERP Interfaces
WE SEAMLESSLY INTEGRATE OUR CUSTOM PROPRIETARY SOFTWARE WITH A MULTITUDE OF ERP INTERFACES B2B B2C Clients Clients TPG Partner- Market- TPG Shops platforms places PIM-System Carrier-Services TPG ERP-Core B2B Portal Content Partner System TPG TPG / Partner Production Order Management Listings TPG Sta
Slide 21: Segment Overview
3 Segment Overview 22
Slide 22: The Platform Group: Segment Overview
THE PLATFORM GROUP: SEGMENT OVERVIEW Revenue by Segment (H1 2023) Consumer Goods Freight Goods Service & Products with simple Products with complex Retail logistics and focus on transport, logistics and 7% consumer goods delivery processes in the Shoes area of freight logistics Fashion Furniture Acc
Slide 23: Platform Demonstration
PLATFORM DEMONSTRATION Source: Company 24
Slide 24: Fashionette (Consumer Goods Segment)
FASHIONETTE (CONSUMER GOODS SEGMENT) FACTS & FIGURES* • > 350 Brands • > 1 Mio. active customers • 14 European Countries • > 15 Years of e-Commerce expertise • ~ EUR 165 Mio. revenue • EUR 347 Mio. GMV * fashionette AG 2022 (incl. Brandfield B.V.) Source: Company 25
Slide 25: Fashionette: Reason for the Merger
FASHIONETTE (CONSUMER GOODS SEGMENT) Reason for the merger of fashionette and The Platform Group STRATEGIC DEVELOPMENT The ambition is to make fashionette a CONSIDERABLE SYNERGY POTENTIAL platform company for luxury Facilitate strategic collaboration in Sales synergies and cross-selling potential pl
Slide 26: Strategic Priorities and Achievements
STRATEGIC PRIORITIES AND ACHIEVEMENTS Building a leaner and Consistent focus of the Entering the luxury more efficient fashionette group on fashion market organization luxury products Product categories beauty Implementation of the fashionette will constantly and smartwatches necessary technology an
Slide 27: Market Overview
4 Market Overview 28
Slide 28: German Digital Strategy Driving Thousands of SME Businesses Online
GERMAN DIGITAL STRATEGY DRIVING THOUSANDS OF SME BUSINESSES ONLINE Source: Company research 29
Slide 29: Market Tailwinds: Online Penetration
MARKET TAILWINDS: ONLINE PENETRATION Share of online sales within sub-markets (% of total German market size in 2022) = sub-markets TPG is involved in 43% 40% 35% 34% AVERAGE 25% 22% 19% 18% 7% 4% Fashion & CE/Electro Leisure & Activity Office Jewellery & Watches Health Living DIY and Outdoor FMCG A
Slide 30: Market Tailwinds: E-Commerce and Technology
MARKET TAILWINDS: E-COMMERCE AND TECHNOLOGY Online Penetration Retail Growth Retailers & AI Technology 2014-2022 CAGR 15% 11% 13% 13% 72% No, not planned 10% +11% +3% offline online 15% No, but planned 11% Yes, partially 2018 2019 2020 2021 2022 2% Yes, fully Online share of retail business above St
Slide 31: Financials
5 Financials 32
Slide 32: At a Glance – Key Pro-Forma Numbers
AT A GLANCE – KEY PRO-FORMA NUMBERS TPG HAS A UNIQUE MARKET POSITION IN GERMANY REVENUE GMV EMPLOYEES € 440m € 700m 2023E 2023E +32% vs 2022 +14% vs 2022 680 H1 2023 ADJ. EBITDA PARTNERS ORIGINAL INCORPORATION € 20m 2023E +92% vs 2022 5.262 H1 2023 1882 Source: Company 33
Slide 33: Strong Revenue Growth
STRONG REVENUE GROWTH Revenue Growth Revenue €m 600 500 €440m 400 €333m 300 2023 H2 €241m 200 €146m €164m 100 2023 H1 0 2020 2021 2022 2023E Target 2023E Revenue > €440 million Source: Company | audited financials 34
Slide 34: Leading Profitability
LEADING PROFITABILITY Adj. EBITDA Growth H1 2023 PRO FORMA MARGINS EBITDA €m 22 TPG TPG (EX FASH) 20 18 27.1% Gross Profit 22.7% 16 2023 H2 14 12 10 €10m 5.9% EBITDA 10.3% €10m 8 €7m 6 2023 H1 4 3.4% EBIT 7.3% 2 0 2021 2022 2023E 7-10% ADJ. EBITDA GUIDANCE MID- ADJ. EBITDA 2023 GUIDANCE €20M TERM So
Slide 35: Current Debt Situation + Outlook
CURRENT DEBT SITUATION + OUTLOOK 30.08.2023 31.12.2023E Net Debt / EBITDA 4,0x Cash + Cash equivalents € 17.9m € 7.1m 3,5 2,9 Long term Debt € 32.4m € 28.7m 3,0x 2,6 Short term Debt € 52.4m € 30.2m 2,0x Net Debt € 66.9m € 51.8m 1,0x ViveLaCar Debt* € 29.9m € 23.4m 0,0x Net Debt excluding ViveLaCar €
Slide 36: Strategy
6 Strategy 39
Slide 37: Our Core Strategy
OUR CORE STRATEGY ESTABLISH EXCELLENT PLATFORMS Our growth always results from a logical, interlocking cycle: More connected partners mean more products With more products we reach more customers The higher number of customers generates more sales, both for us and for the partners Due to the increas
Slide 38: Our Future Strategy
OUR FUTURE STRATEGY POWER OF SCALE CONTINUED M&A GEOGRAPHICAL LEADING POSITION NEW MARKETS EXPANSION EXPANSION Becoming the No.1 Expanding into 30 3-8 Acquisitions per Increasing Platform in Europe industries by 2025 year geographical footprint outside of Organic growth Long-term goal of Germany hig
Slide 39: Acquisition Pipeline
ACQUISITION PIPELINE Acquisition Criteria Industry with proven platform potential Sales track record (no early stage or seed investments) 3-8 Acquisitions per year mid term Relevant sales (min. € 1m) guidance EBITDA positive 21 Acquisitions since 2018 successfully completed and integrated Min. 3 yea
Slide 40: Thank You!
S THE PLATFORM GROUP THANK YOU!
Slide 41: Pro-Forma Consolidated Income Statement
PRO-FORMA CONSOLIDATED INCOME STATEMENT Pro-Forma Consolidated Income Statement Tsd. EUR 31.12.2021 31.12.2022 30.06.2023 Sales 240.707,08 333.173,19 163.905,25 Other own work capitalized 1.956,54 3.459,64 5.258,72 Cost of materials -160.097,37 -226.145,27 -105.290,50 Personnel expenses -16.396,53 -
Slide 42: Pro-Forma Consolidated Balance Sheet
PRO-FORMA CONSOLIDATED BALANCE SHEET Pro-Forma Consolidated Balance Sheet Pro-Forma Consolidated Balance Sheet Tsd. EUR 31.12.2021 31.12.2022 30.06.2023 Tsd. EUR 31.12.2021 31.12.2022 30.06.2023 ASSETS LIABILITIES Goodwill 43.653,42 49.376,18 50.777,67 Liability capital 6.200,00 6.200,00 6.200,00 Ot
Slide 43: Organizational Structure
ORGANIZATIONAL STRUCTURE Source: Company 47
Slide 44: Disclaimer
DISCLAIMER IMPORTANT NOTICE This document contains forward-looking statements. These statements reflect the current views, expectations and assumptions of the fashionette AG Management Board and are based on information currently available to the fashionette AG Management Board. Forward-looking stat