Slide 1: Leading Online Marketplaces in Emerging Markets
LEADING ONLINE MARKETPLACES IN EMERGING MARKETS 2021 FULL YEAR RESULTS PRESENTATION | 24 FEBRUARY 2022
Slide 2: Market Leading Businesses
MARKET LEADING BUSINESSES FDV Group structured across three key geographic regions to support FDV at full potential FDV Group FDV LATAM FDV Asia FDV MENA #1 property portal #1 auto portal Pakistan Pakistan #1 general marketplace #1 general marketplace Morocco Tunisia #1 property portal Uruguay, #1 p
Slide 3: Global Opportunity
GLOBAL OPPORTUNITY Our mission is to become the leading global operator of online marketplaces in emerging markets A$0.5B A$15B A$237B Market capitalisation Market capitalisation Market capitalisation (ASX:FDV) (OL:ADE) (AEX:PRX) Global portfolio of online Global portfolio of online Global portfolio
Slide 4: Record Results and Execution of Strategy
RECORD RESULTS AND EXECUTION OF STRATEGY SECTION 1 • A$60.2m portfolio revenue on an FDV % share basis, increasing 154% on FY20 reflecting strong organic growth and full year contributions of recent Portfolio results & acquisitions statutory results • Total portfolio EBITDA of A$1.9m and portfolio E
Slide 5: Portfolio Results & Statutory Results Commentary
PORTFOLIO RESULTS & STATUTORY RESULTS COMMENTARY
Slide 6: FY21 Highlights
FY21 HIGHLIGHTS A$60.2m +154% A$78.0m Portfolio highlights Rapidly accelerating revenue from FDV Record full year revenue on an FDV % share Annualised revenue1 on an FDV % share basis, LATAM business InfoCasas (now 100% basis despite the ongoing impact of COVID-19 highlighting strong momentum headin
Slide 7: Summary Performance – Portfolio View
SUMMARY PERFORMANCE – PORTFOLIO VIEW Record performance in FY21 underpinned by organic growth and strategic acquisitions Portfolio revenue since IPO (100% share basis) Portfolio revenue since IPO (FDV % share basis) (A$m) (A$m) 114.6 60.2 FDV Onset of COVID-19 38.5 LATAM FDV Onset of COVID-19 30.5 L
Slide 8: Portfolio EBITDA Margin
PORTFOLIO EBITDA MARGIN Demonstrates FDV’s proven ability to drive sustainable growth at the operating company level Portfolio EBITDA margin1 Highlights (FDV % share basis) FDV LATAM • A$1.1m EBITDA in FY21 (FDV % share basis) with positive EBITDA across all operating companies in FY21 FY21 (ex. new
Slide 9: FY21 Revenue Breakdown by Operating Company
FY21 REVENUE BREAKDOWN BY OPERATING COMPANY Record full year revenue of A$60.2m on an FDV % share basis, increasing 154% on pcp A$ (100% basis) A$ (FDV % share basis) FDV Accounting Operating company interest treatment FY21 Revenue FY20 Revenue Growth FY21 Revenue FY20 Revenue Growth FDV LATAM 38,54
Slide 10: FY21 EBITDA Breakdown by Operating Company
FY21 EBITDA BREAKDOWN BY OPERATING COMPANY Rapid revenue growth driving strong EBITDA performance FDV FY21 FY20 ownership EBITDA EBITDA EBITDA (%) A$ (FDV % share basis) A$ (FDV % share basis) improvement FDV LATAM 1,132,384 380,324 Fincaraíz 100% 551,4521 100,781 - InfoCasas 100% 450,724 210,260 24
Slide 11: Commentary on Statutory Results
COMMENTARY ON STATUTORY RESULTS Due to the nature of FDV’s investment portfolio, with a mixture of consolidated and associate accounted investments, the statutory results present only a partial picture of the underlying performance of the Company. FDV’s current portfolio contains 16 investments: • 1
Slide 12: CEO Quote – Shaun Di Gregorio
“ We are thrilled to report the ongoing growth of the portfolio across 2021, with revenue now annualising at A$78.0 on an FDV % share basis. Perhaps more pleasing is the record +A$1.9m full year EBITDA on an FDV % share basis, with the result reflecting our long held belief that the operating compan
Slide 13: Operational Update
FROWHean DIGITAL VENTURES frre»
Slide 14: Operating Metrics
OPERATING METRICS Total portfolio users in FY21 Significant number of users being directed 383m to and landing on the operating company websites and mobile applications Total portfolio sessions in FY21 High engagement amongst users who 1,253m return to the portals and mobile applications to complete
Slide 15: Transaction Momentum Building
TRANSACTION MOMENTUM BUILDING Unlocking the value of classifieds leadership to drive transaction volumes and revenue Property and auto transactions facilitated 106% CAGR (FY16-FY21) 14,368 Onset of COVID-19 7,369 5,833 2,880 1,386 387 FY16 FY17 FY18 FY19 FY20 FY21 Note: Figures quoted for entities w
Slide 16: Portfolio Optimisation Activities
PORTFOLIO OPTIMISATION ACTIVITIES Consolidating ownership across FDV LATAM and strategic increases in ownership across FDV Asia and MENA 100% acquisition of the leading ✓ Trials with developers for new housing projects underway, with 22 new property general classifieds portal in Chile projects in th
Slide 17: Transaction Strategy
TRANSACTION STRATEGY
Slide 18: Proven Business Model
PROVEN BUSINESS MODEL Focused on acquiring or partnering with companies to unlock significant transactional revenue opportunities FDV PROVIDES VALUABLE STRATEGIC OVERSIGHT AND SUPPORT Identify Strengthen Increase Move closer to opportunities market ownership the transaction leadership Identify early
Slide 19: Evolution Towards Transactions
EVOLUTION TOWARDS TRANSACTIONS Observed increase in change in consumer behaviour towards purchasing higher value items online Low cost Mid cost High cost Largest consumer purchase High frequency Regular frequency Low frequency E.g. Streaming services, rideshare, E.g. Travel and accommodation Vehicle
Slide 20: Significant Upside Potential
SIGNIFICANT UPSIDE POTENTIAL Augmenting traditional classifieds revenue with transaction revenue underpins anticipated long-term growth Traditional online classifieds Transaction-based marketplaces $ $ Advertising Advertising Buyer Seller Buyer Seller Facilitate and participate in the transaction e.
Slide 21: Case Study – FDV Asia
CASE STUDY – FDV Asia The 'playbook' in action – long-term equity value creation Zameen classifieds and transaction revenue The FDV playbook Zameen’s in action equity value – long-term growth equity value creation (A$m, 100% basis) 60.3 Most recent equity value: Onset of COVID-19 Dec 2020 (15 months
Slide 22: Case Study – FDV LATAM
CASE STUDY – FDV LATAM Proprietary technology powering rapid transaction growth InfoCasas transactions facilitated The FDV playbook Proprietary in action – long-term transaction equity value creation technology Intelligent communication tools Big data interact with InfoCasas 19.1m yearly 1,445 visit
Slide 23: Realising FDV's Full Potential
REALISING FDV'S FULL POTENTIAL Leveraging marketplaces to drive long-term equity value creation Monetisation opportunities (not exhaustive) Value catalysts $ FDV continues to explore monetisation options to Market intermediary maximise value for shareholders facilitating transactions Sell down to ex
Slide 24: Additional Information
ADDITIONAL INFORMATION
Slide 25: FDV's Capital Raising History
FDV’S CAPITAL RAISING HISTORY Track record of raising capital efficiently, with shareholder value front of mind FDV’s primary and secondary capital raising history Offer price (A$) 1.50 1.25 0.98 0.78 0.65 0.50 Aug-16 May-18 Dec-19 Jul-20 Oct-20 Dec-21 Market capitalisation at last A$108m A$144m A$1
Slide 26: Corporate Overview
CORPORATE OVERVIEW FDV has a strong balance sheet, and its shares are tightly held Share price performance since IPO Substantial shareholders $1.90 Catcha Group (Patrick Grove and Luke Elliott) 11.6% $1.70 Shaun Di Gregorio (Founder and CEO) 10.1% Barca Global Master Fund 7.4% $1.50 SmallCo Investme
Slide 27: Strong Track Record of Long-Term Value Creation
STRONG TRACK RECORD OF LONG-TERM VALUE CREATION • One of the top global online marketplace executives with a strong track record of long-term value creation • Former CEO of iPropertyGroup (ASX: IPP) and General Manager at REA Group • Spearheaded the transformation of iProperty Group from a US$15m sm
Slide 28: S&P/ASX All Technology Index Inclusion
S&P/ASX ALL TECHNOLOGY INDEX INCLUSION All Tech index inclusion an important step on the pathway to the S&P/ASX 300 Index Significant benefits to index inclusion Interactive Media & Services constituents Ticker Market Cap Provides access to the fastest growing sector on the ASX through a single inde
Slide 29: Financial Profiles
FINANCIAL PROFILES Annual revenue by business since IPO (100% basis) FDV FY20 ($A) ownership FY21 ($A) COVID Impacted FY19 ($A) FY18 ($A) FY17 (A$) FY16 (A$) FDV LATAM 38,548,887 InfoCasas 100% 13,626,840 5,935,702 6,022,050 2,812,271 1,356,652 824,471 Fincaraíz 100% 8,467,156 1,367,317 - - - - Encu
Slide 30: Financial Profiles (cont.)
FINANCIAL PROFILES (cont.) Annual EBITDA by business since IPO (100% basis) FDV FY20 ($A) ownership FY21 ($A) COVID Impacted FY19 ($A) FY18 ($A) FY17 (A$) FY16 (A$) FDV LATAM 1,279,823 Fincaraíz1 100% 551,452 106,198 - - - - InfoCasas 100% 550,611 403,261 294,621 (52,842) (170,509) (206,578) Encuent
Slide 31: Statutory Accounts
STATUTORY ACCOUNTS FDV’s current portfolio contains 14 investments which are accounted for on a consolidated basis and 2 investments which are reported as “associates” under the equity method AASB128 Operating company Accounting treatment Zameen Equity accounted InfoCasas Consolidated Fincaraíz Cons
Slide 32: Contact Us
CONTACT US COMPANY Shaun Di Gregorio Founder and CEO P: +60 3 2700 1591 E: shaundig@frontierdv.com INVESTORS Timothy Toner Vesparum Capital P: +61 3 8582 4800 E: frontierdv@vesparum.com PRINCIPAL OFFICE 39-8 The Boulevard Mid Valley City, Lingkaran Syed Putra Kuala Lumpur, Malaysia www.frontierdv.co
Slide 33: Disclaimer
DISCLAIMER The material contained in this presentation is non-specific and is a summary of the background to the Company's activities. As this information is in a summary form it is not intended to be complete. Independent advice should be sought by investors or potential investors. The material doe