Growens S.p.a. · MIL:GROW
Growens — MailUp Group — Investor Presentation (March 2020)
44 slides from Growens's investor presentation, March 2020
Slide 1: MailUp Group overview and latest results
MailUp Group overview and latest results March 2020
Slide 2: Agenda
1 About Us 2 Business Units Agenda 3 Industry & Strategy 4 Results Overview 5 Investor Information MailUp Group
Slide 3: MailUp Group at a glance
MailUp Group at a glance Innovation Growth Global Expansion • Fast-growing industry: cloud • Revenues 3y CAGR +41% • International revenues from 10% to software/marketing technology ✔ +26% FY 2017 (organic) 47% since IPO • Focus: data-driven omni-channel ✔ +47% FY 2018 (organic) • Serving 23,000+ B2
Slide 4: From startup to leading European player in cloud software
From startup to leading European player in cloud software REVENUES 70 ACQUIRED DATATRICS (NL) €5M GOVERNMENT GRANT 60 ABB: RAISED €6M, ACQUIRED MAILCULT (IT) 50 ACQUISITIONS: AGILE TELECOM (ITA), GLOBASE (DK), ACUMBAMAIL (ES), 40 BEE (USA) SPUN-OFF 30 LEADERSHIP IPO ON COMPANY MAILUP SMS CHANNEL IS
Slide 5: A tech group built on strong synergies
A tech group built on strong synergies Group Holding / Parent ~45 employees Strategy, M&A, Finance/Accounting, IR, IT, HR, Legal Business Units ~195 employees Freemium Tool Cross Selling SMS Services Email Editor AI Predictive Marketing MailUp Group 5
Slide 6: Revenue distribution FY 2019
Revenue distribution FY 2019 Rest of Europe 37% USA 8% Italy 53% Other 3 % MailUp Group 6
Slide 7: Mature vs innovative businesses
Mature vs innovative businesses Cumulated EBITDA 2017-2019 Sales CAGR 2017-2019 160% 8 7.4 140% 140% 7 120% 6 108% 5,2 100% 5 80% 4 67% 3 60% 2 40% 31% 1.1 1 0.7 20% 11% 0 0% -1 (0.6) MailUp Group Data in Mn/EUR 2018-2019 for Datatrics 7
Slide 8: mailup.com
Drag & drop templates Drag & drop templates HTML templates Mytomplatse Gaels templates Rich templates 12 Days of Christmas Black and Blue Christmas Blue a] on Christmas Promo Sale | Merry Bee chisonast i
Slide 9: MailUp: the multichannel marketing solution
MailUp: the multichannel marketing solution Your successful campaign Create Send Track is only three steps away Get the right email to the Triggered Transactional Newsletter DEM right recipient messages messages Engage your audience on Grow the Schedule Connect Start meaningful Facebook Messenger an
Slide 10: Business unit highlights: MailUp
Business unit highlights: MailUp Company Competition Strategy Financials • Bootstrapped 2002, always • #1 in Italy (second player • Strengthen the market • 17% revenue CAGR (3Y) profitable has 800 clients) position in Italy and Latam • €15.1M FY 2019 sales • 10,000+ clients across • Among top 5 play
Slide 11: agiletelecom.com
agiletelecom.com MailUp Group 12
Slide 12: Agile Telecom: the A2P wholesale messaging gateway
Agile Telecom: Companies Companies 300M the A2P Software wholesale Software 10K applications applications messaging SMS Gateways Gateways gateway SMS 1K Mobile Mobilecarriers carries 1.2K End users End users 4.7B MailUp Group 13
Slide 13: Agile Telecom: the A2P wholesale messaging gateway
Agile Telecom: Telecom provider (OLO - Licensed the A2P wholesale Operator) offering wholesale A2P SMS delivery messaging gateway Specialized in low-latency transactional messages (One-time password / notifications / alerts and so on) In-house developed technology for SS7 protocol (carrier-grade sta
Slide 14: Business unit highlights: Agile Telecom
Business unit highlights: Agile Telecom Company Competition Strategy Financials • Acquired 2015 • #1 Italian player with ~2b • Consolidate the Italian • 58% revenue CAGR (3Y) (1x EV/Sales), profitable sms sent yearly market leadership since 1998 • €41.5M FY 2019 sales • Price leadership thanks to •
Slide 15: beefree.io
Save, edit, search, organize. lown on email production time & cost Collaborate more. Have fun BEE Plugin Embed BEE in your web app development time & cost. Give your customers an editor they'll love. LEARN MOR *
Slide 16: BEE / Best Email Editor: beautiful content, fast
BEE / Best Email Editor: beautiful content, fast Two products built around the editor Marketers are often also BEE helps them make that designers content beautiful and fast They create content in all sorts of A drag-n-drop email and landing page applications: a welcome email, a product editor to edi
Slide 17: BEE Pro
BEE Pro For Email Designers • Hundreds of email templates • Fast email creation workflow • Multi-user support with roles and permissions • Collaboration tools for review and approval • Integrations with many marketing platforms • Free editor generates product led-growth • Community: a growing number
Slide 18: BEE Plugin
BEE Plugin Embeddable email & page editor for SAAS • A completely customizable editor • Easy «Make vs Buy» pitch: companies save money and time by embedding BEE vs. building their own drag-n-drop editor • Clear advantages: • Give a content editor users will love • Reduce time to market & cost • Easi
Slide 19: Business unit highlights: BEE
Business unit highlights: BEE Company Competition Strategy Financials • MailUp technology spin-of > • #1 player • To become the world leading • 73% revenue CAGR 3Y Startup in Silicon Valley standard for email creation • Small niche market • €2.6M FY 2019 sales • Business team and IP in USA, • Open p
Slide 20: datatrics.com
datatrics.com MailUp Group 21
Slide 21: Datatrics
Datatrics AI-powered actionable Customer Data Platform (CDP) MailUp Group 22
Slide 22: Datatrics + MailUp
+ Messaging apps + Push notifications + TV addressable ads Datatrics + MailUp Datatrics areas of expertise MailUp (excl. Datatrics) areas of expertise MailUp Group 23
Slide 23: Datatrics
Datatrics • Actionable Customer Data Platform that enables mid-size marketing teams to use predictive data-driven omni-channel orchestration for customer engagement and journey management • Enriches traditional marketing automation with artificial intelligence (AI) • 150+ plug-and-play connectors wi
Slide 24: Datatrics: Product, business, technology
Datatrics: Product, business, technology MailUp Group 25
Slide 25: Datatrics: Create 360° customer profiles
Datatrics: Create 360° customer profiles MailUp Group 26
Slide 26: Datatrics: Future behaviour
Datatrics: Future behaviour MailUp Group 27
Slide 27: Datatrics: Output
Datatrics: Advertising Website Embedded Content Email Output Orientation Orientation Comparison Comparison Decision Decision Evaluation Evaluation Loyal customer Single minded Persuade with customer social proof Persuade with scarcity MailUp Group 28
Slide 28: Business Unit highlights: Datatrics
Business Unit highlights: Datatrics Company Competition Strategy Financials • Fast-growing startup • Mid-market positioning • Cross-selling in Italy and • EV = € 3.8M (€ 2.3M in acquired in the Netherlands where large US players Latam cash, € 1.5M in newly issued in 2018 (Adobe, Salesforce, Acoustic
Slide 29: Needs we serve
Needs we serve Most marketing departments within companies (and software developers serving them) have these needs IT Departments Templates for receipts, Send Notifications, order confirmations, newsletters, welcome Create Transactional password reminders, etc. series, etc. Messages Marketing Depart
Slide 30: Needs we serve: Why choose MailUp Group?
Needs we serve Why choose MailUp Group? IT • Multi-channel Departments • Easier • Personalized • Faster Creation Transactional • Delivered! • Consistent Marketing • Cost effective Depts • Multi-channel • Data-driven • Scalable • Omni-channel Journeys Broadcasts • Curated or • AI-enhanced automated M
Slide 31: The competitive landscape
The competitive landscape Martech 5000 (actually 7,040) MailUp Group 32
Slide 32: Industry Structure and Group Positioning
Industry Structure and Group Positioning Message delivery EMAIL SMS SOCIAL CHAT PUSH VOICE DISPLAY TV for Developers / IT Platforms SMS MARKETING EMAIL MARKETING MARKETING AUTOMATION CRM AI ECOMMERCE ANALYTICS PROGRAMMATIC ADVERTISING for Marketers Content Creation EMAIL EDITOR COLLABORATION LANDING
Slide 33: Products & Markets
Products & Markets MailUp Group 34
Slide 34: P&L: Revenues and EBITDA
P&L Revenues EBITDA YOY +51% 70 YOY 60.8 +27% 60 ORGANIC YOY ORGANIC YOY +47% 6 5.6 50 +31% 4,8 ORGANIC YOY 40.2 5 4.8 ORGANIC YOY 40 +26% +21% 3.8 4 27.3 30 2.9 21.6 3 2.4 20 2 0.7 9.1 9.5 10 7.2 1 0.5 0 0 FY 2013* FY 2014* FY 2015* FY 2016 FY 2017 FY 2018 FY 2019 FY 2013* FY 2014* FY 2015* FY 2016
Slide 35: Balance Sheet
Balance Sheet Shareholders’ Equity Net Cash Position 18 ABB 15.9 17.0 15 14.0 8 7.3 7.0 12 6.4 6 9 7.0 6.2 6 IPO 4 3.3 3.3 2.4 3 2 1.0 1.0 0.6 0.1 0 0 FY 2013* FY 2014* FY 2015* FY 2016 FY 2017 FY 2018 FY 2019 FY 2013* FY 2014* FY 2015* FY 2016 FY 2017 FY 2018 FY 2019** *In 2016 Group transitioned t
Slide 36: By business unit
By business unit 45 Revenues 41.5 EBITDA 40 35 3 2.8 30 2.7 26.3 2.5 25 2,5 2.3 2.3 2 20 15.1 14.8 1.4 15 13.8 1,5 1.3 1.3 12.3 1 0.9 10 0,5 0.3 0.4 0.7 0.2 0.3 5 2.6 2.4 0.7 0,9 1.2 0.6 1.2 0 1.0 0 0 0 (0.4) 0 0 0.2 -0,5 (0.6) 2017 2018 2019 -1 2017 2018 2019 Data in Mn/EUR. Starting from FY2019, t
Slide 37: Board of Directors
Board of Directors Matteo Monfredini Armando Biondi Co-founder - Chairman & CFO Non Executive Director – CGO • Freelance software developer during his studies at the • Co-founder of AdEspresso Politecnico University in Milan • One of the European Top Angels (with ~50 investments) • Co-founded Networ
Slide 38: Stock Information / Shareholders
Stock Information / Shareholders Gorni Nazzareno* CEO Stable control 10.6% • Founders entered a shareholders’ agreement regarding 50.1% of the share capital, in equal measure Market Azzali Luca* 36.3% Director, BU MailUp (2018-2021 lock-up) 10.6% Market friendly Miscia Alberto* • 1 female Director,
Slide 39: Prices & Volumes 5 years
AIM ITALIA Prices & Volumes 5 years ISIN IT0005040354 Bloomberg MAIL IM Reuters MAIL.MI CORONAVIRUS EMERGENCY AGILE Number of Shares 14,971,046 TELECOM ACQUISITION DATATRICS Fully Diluted 16,237,937 GLOBASE ACQUISITION ACQUISITION ABB BEGINNING OF (@2,30€) Source: Borsa Italiana, as of 27 Mar, 2020
Slide 40: ESG (Environment, Sustainability, Governance)
ESG (Environment, Sustainability, Governance) Caring for employees, environment, people, community, investors Environment Diversity Community Governance • CO2 compensation (since • 44% women • Co-working space • Independents: 1/5 2007) • Low turnover founded in 2014 with • Pay-per-performance • New
Slide 41: List of Parties
List of Parties NOMAD AUDIT & ACCOUNTING SPECIALIST BROKER / COVERAGE LEGAL ADVISOR MailUp Group 43
Slide 42: Contacts
Contacts Address Email Via Pola 9, investor.relations@mailupgroup.com 20124 Milan, Italy Phone Monthly Newsletter +39 02 71040485 Subscribe at www.mailupgroup.com/newsletter MailUp Group 44
Slide 43: Disclaimer
45 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 Docu
Slide 44: Thank you
Thank you investor.relations@mailupgroup.com MailUp Group