Mci Capital Alternatywna Spolka Inwestycyjna S.a. · GPW:MCI
Mci Capital Alternatywna Spolka Inwestycyjna — MCI Capital ASI — H1 2025 Earnings Presentation
42 slides from Mci Capital Alternatywna Spolka Inwestycyjna's earnings presentation, Apr 1, 2025
Slide 1: MCI Capital ASI S.A. result presentation for H1 2025
We transform the potential of technology into value growth MCI Capital ASI S.A. result presentation for H1 2025
Slide 2: Investment Summary
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Investment Summary Attractive long-term financial results – MCI share price in a steady upward trend 54% PLN 40.85 5Y growth in NAV/S NAV/S before dividends Experienced team implementing sector-focused strategy 12 experts 28% value crea
Slide 3: Main current events
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Main current events EXITS (to date) HY 2025 RESULTS • MCIC Group’s result for HY 2025 is PLN 34.5M In August 2025, all of Gett’s shares were sold to a consortium of investors – settlement is scheduled for Q3 2025 (and only a small • The
Slide 4: Attractive long-term financial performance
Attractive long-term financial performance
Slide 5: Main components of investment performance in HY 2025
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. MCI Capital Group – main components of investment performance in HY 2025 +51.8 M RETURN ON INVESTMENT CERTIFICATES MCI.EV RETURN – mainly portfolio +56.4 M MCI.EV MCI.TV 99.6% MCI share in MCI.EV = +56.2 MCI.EV result M attributable to
Slide 6: MCI Capital's strong investment track record
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. MCI Capital’s strong investment track record RATE OF RETURN: 28% IRR ON PRIVATE EQUITY BUYOUT INVESTMENTS AND EXPANSION UNIQUE AND DIVERSIFIED EXPERIENCE IN EXITS Over EUR 1B invested in the tech private equity buyout strategy (investme
Slide 7: MCI Capital ASI fund's long-term NAV/S growth
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. MCI Capital ASI fund’s long-term NAV/S growth For 25 years we have been consistently building value by investing and supporting the growth of companies in various innovative sectors Unique position in the market – we are the only privat
Slide 8: Experienced team implementing value creation strategy
Experienced team implementing value creation strategy
Slide 9: Experienced team
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Experienced team PARTNERS AND INVESTMENT TEAM Tomasz Czechowicz Paweł Borys Ewa Ogryczak Michał Górecki Filip Berkowski Aleksandra Kulas Founder, Managing Partner, CIO COO, Senior Investment Partner Senior Investment Partner CFO, Managi
Slide 10: Investment strategy
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Investment strategy eCommerce MCI Capital Software as a Service (Saas) MCI Capital ASI S.A. is a WSE-listed investment company making investments through a private equity new technologies fund1. Investment strategy is focused on six maj
Slide 11: Main value creation levers
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Main value creation levers Main levers for value creation by MCI’s 7 Professional investment exit process experienced team under mid market growth buyout strategy 6 Modern marketing strategies 5 Operational Excellence 4 Accelerating gro
Slide 12: AI as a global investment trend and an opportunity for MCI
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. AI as a global investment trend and an opportunity for MCI BlackRock Investment Institute, in its "2025 Midyear Global MAIN AREAS OF ACTIVE AI IMPLEMENTATIONS IN PORTFOLIO COMPANIES Outlook" report, identifies AI as one of the key force
Slide 13: Key KPIs of MCI Capital's investment portfolio
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Key KPIs of MCI Capital’s investment portfolio (consolidated data) 22% 28% 560 23% growth of portfolio growth of portfolio companies’ normalized current earnings dynamics of companies’ revenues (5y earnings (norm. EBITDA, 5y EBITDA 2024
Slide 14: Diversified portfolio of new technology leaders
Diversified portfolio of new technology leaders
Slide 15: MCI Capital ASI Group's portfolio structure as of 30 June 2025
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. III. MCI CAPITAL ASI GROUP’S PORTFOLIO STRUCTURE AS OF 30 JUNE 2025 As of 30 June 2025 MCI Group’s investment portfolio consisted of 16 investments, of which 10 active investments accounted for INVESTMENT SHARE IN VALUE ATTRIBUTABLE VAL
Slide 16: IAI Group and eSky Thomas Cook
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. IAI Group eSky Thomas Cook ABOUT THE COMPANY ABOUT THE COMPANY Poland’s largest e-commerce platform for creating online stores in the SaaS model – Leading Polish online air travel agency with a global reach, with a fast-growing dynamic
Slide 17: Netrisk and Profitroom
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Netrisk Profitroom ABOUT THE COMPANY ABOUT THE COMPANY Leading group operating online price comparison and insurance contracting portals A leading international provider of online direct booking solutions for hotels, offering with a foc
Slide 18: Nice To Fit You and Webcon
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Nice To Fit You Webcon ABOUT THE COMPANY ABOUT THE COMPANY One of the largest and longest-established players in the food eCommerce market in Provider of low-code technology-based business process management and automation Poland, the f
Slide 19: Welyo and Morele
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Welyo Morele ABOUT THE COMPANY ABOUT THE COMPANY A cloud-based, multi-channel communications platform that supports businesses in Leading e-commerce platform in PL, offering customers a wide range of products, building lasting, personal
Slide 20: Consistent investment exits
Consistent investment exits
Slide 21: Planned portfolio exits roadmap 2025-2031
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Planned portfolio exits roadmap 2025-2031 2025 - 2026 2027 2028 2029 - 2031 [recap completed in [sales agreement signed [PE/strategist] [PE/strategist] [PE/strategist/IP February 2025 at – awaiting approvals O] PLN 106M] from OCCP and F
Slide 22: Case study IAI Group
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Case study MCI’S INVESTMENT IN IAI IAI Group Since MCI’s acquisition of the company in 2018, IAI has undergone a strategic transformation through a number of key initiatives, leading to a nearly sixfold increase in IAI Group revenue – p
Slide 23: Case study Answear.com
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Case study MCI’S INVESTMENT IN ANSWEAR Answear.com Since 2013, in collaboration with MCI, Answear has undergone a strategic transformation through the implementation of key initiatives, reaching revenues at the level of PLN 1.5 billion
Slide 24: Strong market position and new project pipeline
Strong market position and new project pipeline
Slide 25: MCI Capital is the largest mid market tech private equity fund in CEE
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. MCI Capital is the largest mid market tech private equity fund in the CEE region MCI's closest competitors DIGITIZATION LEVEL TICKET SIZE Lower mid-market (GBP 5M– 25M) Fund size Mid-market (GBP 25M – 100M) Large cap (EUR 100M – 1B+) 50
Slide 26: MCI's main areas of investment interest
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. MCI’s main areas of Transformation investment interest to recurring revenue Digitization of models Platformization traditional sectors The Fund is currently focusing Groundbreaking Building digital on the following investment themes bra
Slide 27: New investments in the last 24 months
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. New investments in the last 24 months Four new transactions with a total value of approx. PLN 600M and two acquisitions at company level (add-ons) [add-on] [add-on] Webcon Welyo ProfitRoom Systell Thomas Cook Nice to Fit You INVESTMENT
Slide 28: Broad pipeline of new investment projects
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Broad pipeline of new investment projects PROJECTS ANALYZED BROAD PROJECT PIPELINE IN THE LAST 24 MONTHS FOR THE NEXT 24 MONTHS SELECTED INVESTMENT PROJECTS CURRENTLY UNDER REVIEW ~150 ~140 Recurring • B2B software sold in SaaS model re
Slide 29: Regular distribution of profits under the dividend policy
Regular distribution of profits under the dividend policy
Slide 30: MCI's dividend policy for 2025-2027
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. MCI’s dividend policy for 2025–2027 On 9 September 2024, the Management Board of MCI Capital ASI S.A. adopted a resolution on the dividend policy for the years 2025-2027 4% PLN 84.5M 5.3% 18.9% Dividend value Payable Dividend Free float
Slide 31: MCI Capital ASI S.A.'s share price dynamics
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. MCI Capital ASI S.A.’s share price dynamics MCI shares combine strong price growth potential (increase by more than 70% since the end of 2020, including 10% since the end of 2024) with stable shareholder return thanks to a new dividend
Slide 32: Additional information
/ Additional information
Slide 33: Group structure and sources of revenue generation
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Group structure and sources of revenue generation MCI GROUP STRUCTURE ✓ In recent years, the MCI Group has gone through a process of intensive organizational structure simplification AS OF 30 JUNE 2025 ✓ After the merger with PEM (21 Ju
Slide 34: MCI Capital Strategy
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. MCI Capital Strategy We are the largest private equity fund for new technologies in Central Europe. VISION We aim to become one of the most distinguished private equity funds for new technologies in Europe MISSION We draw inspiration fr
Slide 35: Investment strategy: Central and Eastern Europe PE market
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. Investment strategy: Central and Eastern Europe is a rapidly growing PE market in the EU, characterized by 50–100 transactions per year, the region’s rapid economic growth and a wide range of investment exit opportunities. MCI plans to
Slide 36: MCI Group – Consolidated profit and loss account for HY 2025
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. MCI Group – Consolidated profit and loss account for HY 2025 • The Group’s net profit of PLN 34.5M was mainly influenced by the result from the revaluation of investment certificates (IC), THOUSAND PLN HY 2025 HY 2024 which was mainly d
Slide 37: MCI Group – Consolidated balance sheet at 30 June 2025
PREZENTACJA WYNIKOWA MCI CAPITAL ASI S.A. ZA I PÓŁROCZE 2025 R. MCI Group – Consolidated profit and loss account for HY 2025 THOUSAND PLN 30 June 2025 31 December 2024 • The Group’s assets consisted primarily of investment certificates (IC) representing 97% of asset value (as of 30 June 2025, the Ta
Slide 38: Case Study of IAI Group: From Local Player to Regional E-commerce Champion
Case Study of IAI Group: From Local Player to Regional E-commerce Champion Highly successful exit to global private equity following implementation of MCI’s Value Creation Strategy MCI CAPITAL ASI S.A./Rondo Ignacego Daszyńskiego 1, 00-843 Warsaw / +48 22 652 60 30, www.mci.eu
Slide 39: IAI is the leading cloud-based SaaS e-commerce enablement platform in Poland
IAI is the leading, fully cloud based, SaaS e-commerce enablement platform in Poland and in the CEE, operating as a one-stop shop provider to medium plus merchants IAI at glance #1 Online store platform #4 Logistics services broker in IAI offers #1 cutting-edge cloud- Poland 1 4 based online store p
Slide 40: With support from MCI, IAI experienced substantial expansion
With support from MCI, IAI experienced substantial expansion thanks to the well-defined value creation plan, culminating in a highly attractive and successful exit to a new investor 2025 2024 2023 2022 2021 Smile was established to MCI, supported by PwC, broaden its reach beyond the successfully com
Slide 41: Key strategic initiatives executed during the investment period
Key strategic initiatives executed during the 1 investment period Under the leadership of MCI, the organization underwent a significant management transformation, transitioning from founder-led operations Management transformation to a model governed by a professional management team made up of seas
Slide 42: One of the largest transactions in MCI's history
One of the largest transaction in MCI’s history after successful Value Creation through multiple strategic initiatives Spectacular growth of IAI MCI Exit IAI’s revenue [PLN m] 2025 Since MCI's investment in 2018, IAI's revenue has increased almost 6x ~90m PLN ~23bn PLN ~300 EBITDA, 2025 GMV, 2025 +2