Banqup Group · EURONEXT:BANQ
Banqup — Unifiedpost Group — H1 2021 Earnings Presentation
16 slides from Banqup's earnings presentation, Sep 17, 2021
Slide 1: Unifiedpost Group 2021 Half-Year Results
Unifiedpost Group 2021 Half-Year Results September 17, 2021 1
Slide 2: Disclaimer
Disclaimer “The statutory auditor BDO Bedrijfsrevisoren CVBA, has confirmed that based on their review, nothing has come to their attention that the accompanying interim condensed consolidated financial statements are not prepared, in all material respects, in accordance with IAS 34 “Interim Financi
Slide 3: Strong H1 2021 performance driven by organic and inorganic growth
Strong H1 2021 performance driven by organic and inorganic growth Financial Highlights Strategic Achievements • Six successful acquisitions - integration on track Total revenue Digital revenue €50.4m • Platform roll-out accelerating and scaling to 30 countries €80.7m Postage & parcel rev €30.3m • Es
Slide 4: Business KPI Highlights
Business KPI Highlights €15.3m R&D >1,300 FTEs €80.7m 30% of digital revenue total revenue 30 countries 424 FTEs Belgium ~ 1 million 292,312 payment • +45% customer growth customers transactions • +67% increase in transactions +41% y-o-y 94% +44% y-o-y Organic Recurring Subscription fees customer gr
Slide 5: Strong revenue and margin improvement
Strong revenue and margin improvement Revenue Gross Margin Adjusted EBITDA1 €80.7m €30.3m +0.8%pts 42.8% 42.8% +50% 42.0% €50,4m €25.2m €50.4m €3.3m +53% €33.5m €68,9m €21,9m €21.5m €47,0m €14.1m €47,0m €-1.0m €0.0m H1 2020 H1 2021 H1 2020 H1 2021 H1 2020 H1 2021 (1): Adjusted EBITDA for a period, a
Slide 6: Postage & parcel optimisation revenue in H1 2021 explained
Postage & parcel optimisation revenue in H1 2021 explained Share of total revenue Key figures Revenue • Postage and parcel optimisation €30.3m revenue entirely from 21 Grams acquisition in January 2021. 38% • Opportunity to convert large new 62% customer base by cross- and upsell of digital solution
Slide 7: Strong continued investment in R&D and S&M to support growing platform
Strong continued investment in R&D and S&M to support growing platform Cost by function R&D €15.3m €18.6m 30% of digital revenue €15.3m €13.1m €10.4m €8.7m €11.3m R&D CapEx €4.7m €5.0m R&D OpEx €6.6m €5.7m €47,0m €47,0m €47,0m €47,0m H1 2020 H1 2021 H1 2020 H1 2021 H1 2020 H1 2021 Research & Develop
Slide 8: Executing the pan-European strategy with high quality revenue
Executing the pan-European strategy with high quality revenue Total revenue split per region Digital revenue quality 5% 5% 6% 2% 15% 34% H1 2021 H1 2021 59% 94% 95% 7% 5% 8% 3% 19% H1 2020 H1 2020 71% 92% Western Europe Northern Europe Central and Eastern Europe Southern Europe Recurring Non-recurri
Slide 9: Equity and cash evolution
Equity and cash evolution Equity Evolution Cash Evolution Equity Cash €211.9m €25.1m 30/6/’21 30/6/’21 €82.8m acquisitions net of cash and loans repaid Unifiedpost Group H1 2021 Results – Finance report 9
Slide 10: Balance sheet H1 2021
Balance sheet H1 2021 Assets Liabilities Goodwill €158.7m Intangible assets €76.1m Equity €211.6m PPE and right-of-use-assets €17.1m Non-controlling interest €0.3m Other non-current assets €1.6m Non-current liabilities €36.8m Current assets €32.5m Current liabilities €62.4m Cash €25.1m Total assets
Slide 11: Pan-European platform roll-out on track
Pan-European platform roll-out on track 2019 2020 H1 2021 15 countries 21 countries 30 + 2 countries Commercially active Only development Not active Southeast Asia Southeast Asia Unifiedpost Group H1 2021 Results – Activity report 11
Slide 12: A pan-European expansion strategy
A pan-European expansion strategy More countries More capabilities More customers • Creating new business ecosystems • Rolling out into 30 countries, 4 more ➢ Largest ecosystem of 80,000 • Integration of the 6 acquisitions than planned customers ➢ Adding new services, • Access to high potential DACH
Slide 13: Successful integration on track
Successful integration on track Integration of divisions (in %) H1 2021 Acquisitions HR & Organisation 79% Integration with the Group 21 Grams Product 54% Sales & Clients 71% Unifiedpost Group H1 2021 Results – Activity report 13
Slide 14: Examples – Belgium & France
Examples – Belgium & France Billtobox/Banqup Billtobox/Banqup – Accessing – Accessing the high growth the high growth Belgian market Belgian market Jefa • Organic growth of 53% in 2021 YTD, towards 30,045 businesses, of which 85.4% are paid subscriptions. • Migration and going live of countries in b
Slide 15: Guidance 2021-2023 – Growth indicators are reconfirmed
Guidance 2021-2023 – Growth indicators are reconfirmed +30% Organic growth1 from 2023 onwards +60% +25% Gross margin1 from 2023 Organic Growth1 onwards from 2022 onwards +15% +25% Organic Growth1 Adjusted EBITDA1 from 2023 in 2021 onwards 2021 2022 2023 (1): Calculated on digital processing services
Slide 16: Contact data and financial calendar
Contact data and financial calendar Communicate with us Join us • 20 September 2021: Barclays European Payments & Fintech Conference Hans Leybaert • 19 November 2021: Publication Q3 Business Update CEO • 20 November 2021: Finance Avenue (Tour & Taxis, Brussels) hans.leybaert@unifiedpost.com • 23 Nov