Mci Capital Alternatywna Spolka Inwestycyjna S.a. · GPW:MCI
Mci Capital Alternatywna Spolka Inwestycyjna — MCI Capital ASI — H1 2024 Earnings Presentation
28 slides from Mci Capital Alternatywna Spolka Inwestycyjna's earnings presentation, September 2024
Slide 1: HY 2024 Results MCI Capital ASI S.A.
HY 2024 Results MCI Capital ASI S.A.
Slide 2: Contents
Contents 1) Key takeaways 2024 3 2) MCI Group – review of investment activities (H1 2024) 4 3) MCI dividend policy for 2025–2027 5 4) MCI Group – consolidated P&L for 6M of 2024 6 5) MCI Group – consolidated balance sheet as of 30.06.2024 7 6) MCI Group – key drivers of MCI investment results in H1
Slide 3: Key takeaways 2024
3 Key takeaways 2024 CEE+ MARKET MCI – RESULTS AND DEVELOPMENTS 40.3 1. Economic recovery in the Eurozone, as well as in Central and Eastern Europe is expected to continue in the second For the first time in MCI's history, our NAV/S half of 2024, accelerating in 2025. This is supported by exceeded P
Slide 4: MCI Group – review of investment activities (H1 2024)
4 MCI Group – review of investment activities (H1 2024) MCI is the largest new technology fund in Central Europe, offering investors access to long-term capital appreciation through investments in MCI funds 28.2 2.6 ATTRACTIVE STRATEGY & HIGH RETURNS ✓ MCI Capital ASI focuses on executing buyout str
Slide 5: MCI dividend policy for 2025-2027
5 MCI 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 (“Policy”) 4.0% 6.5% of MCI’s NAV dividend yield ✓ The Policy will be effective starting from 2025, based on the MCI Capital ASI S
Slide 6: MCI Group – consolidated P&L for 6M 2024
6 MCI Group – consolidated P&L for 6M 2024 ✓ The Group’s net profit of PLN 31M was influenced primarily PLN thousand 6M 2024 6M 2023 by the result achieved on revaluation of IC, which was mainly Profit/loss on investment certificates (IC) 33 390 142 444 due to the increase of MCI.EV IC ✓ As of 30.06
Slide 7: MCI Group – consolidated balance sheet as of 30.06.2024
7 MCI Group – consolidated balance sheet as of 30.06.2024 PLN thousand 30.06.2024 31.12.2023 Non-current assets 2 352 019 2 315 969 Property, plant and equipment 322 306 Right-of-use assets 2 855 2 605 ✓ The Group’s assets consist mainly of investment certificates, Intangible assets 8 19 representin
Slide 8: MCI Group – key drivers of MCI investment results in H1 24
8 MCI Group – key drivers of MCI investment results in H1 2024 +33.4M PROFIT ON INVESTMENT CERTIFICATES MCI.EV MCI.TV MDCF V Other (IV) -1.5M -0.1M MCI.EV PROFIT – mainly portfolio +41.9M 99.5% +41.7M MCI share in MCI.EV MCI.EV result attributable to MCI +33.4M Total MCI.TV PROFIT – mainly portfolio
Slide 9: Consolidated balance sheet of MCI from the perspective of the underlying assets
9 Consolidated balance sheet of MCI from the perspective of the underlying assets as at 30 June 2024 MCI Group’s BS structure from the business Structure of underlying assets as at 30.06.2024 perspective consolidated data (in PLN M) Assets Amount Share in NAV eSky 449.5 21.3% 9.3% -1.4% IAI 410.3 19
Slide 10: New investments in the last 12 months
10 New investments in the last 12 months 5 3 new transactions with a total value of approx. PLN 410M and 2 acquisitions at company level (add-ons) Webcon Focus Telecom ProfitRoom Systell Thomas Cook ✓ Investment date: ✓ Investment date: ✓ Investment date: ✓ Acquisition date: ✓ Acquisition date: Nove
Slide 11: Investment strategy: 2–3 new investment projects per year and 1–2 exits
11 Investment strategy: 2–3 new investment projects per year and 1–2 exits Key financial KPIs (EUR) Geography Sectors 50M-250M EV sweetspot Poland, Czech Republic, Slovakia – Michał Górecki Sectors (CEE national and regional digital disruptors and (gorecki@mci.eu) enablers): 2.5M-25M EBITDA or 10M A
Slide 12: Our team
12 Our 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, Investor Relations Managing Partner, CEO CEO MCI TFI Senior Partner [Travel
Slide 13: Planned portfolio exits roadmap 2024-2029
13 Planned portfolio exits roadmap 2024-2029 2024-2025 2024 – 2025 2026 2027 2028 2029 [PE/strategist] [IPO/strategist] [PE/strategist] [PE/strategist] [IPO/strategist] [PE/strategist] [IPO/strategist] [PE/strategist] [PE/strategist] [PE/IPO] [trade sale] [ABB] [SPA signed, awaiting approval from th
Slide 14: Appendices
Appendices 14
Slide 15: Profitroom – new MCI.EV investment
15 Profitroom – new MCI.EV investment - leading regional supplier of online booking solutions for hotels Business profile - introduction Investment rationale Deal team Invested amounts (PLN M): ✓ Profitroom is the largest regional supplier of online booking solutions for ✓ The aim of the investment
Slide 16: IAI – leading e-commerce platform in CEE
16 IAI – leading e-commerce platform in CEE Business profile Investment rationale Deal team Invested amounts (PLN M): IAI is the largest e-commerce enablement platform in ✓ The aim of the investment is to build the Filip Berkowski ✓ In 2018: 115 Poland, operating under a SaaS model. In Poland, it po
Slide 17: eSky – global challenger in the TravelTech sector
17 eSky – global challenger in the TravelTech sector Business profile Investment rationale Deal team Invested amounts (PLN M): Leading Polish flight Online Travel Agency (OTA) with ✓ Underlying market before full recovery to Michał Górecki ✓ In 2022: 158 a global presence, also in hotel bookings and
Slide 18: Netrisk Group – leading InsurTech in CEE
18 Netrisk Group – leading InsurTech in CEE Business profile Investment rationale Deal team Invested amounts (PLN M): Netrisk is the leading on-line insurance broker that ✓ The aim of the investment is to build a CEE Filip Berkowski ✓ In 2020: 98 operates internet insurance price comparison portals
Slide 19: Webcon – leading low-code Business Process Management vendor
19 Webcon – leading low-code Business Process Management vendor Business profile Investment rationale Deal team Invested amounts (PLN M): Webcon is a low-code Business Process ✓ Market leader position in Poland and growing Leading Deal Team: ✓ In 2023: 163 Management vendor with a market leader inte
Slide 20: PHH Group – leading e-commerce player in the Baltics
20 PHH Group – leading e-commerce player in the Baltics with a growing presence in Finland Business profile Investment rationale Deal team Invested amounts (PLN M): A leading e-commerce platform in the Baltic ✓ Low e-commerce penetration in the Baltics, with Tomasz Czechowicz ✓ In 2021: 105 countrie
Slide 21: Focus Telecom – leading provider of cloud contact center SaaS
21 Focus Telecom – leading provider of cloud contact center SaaS in the Polish market Business profile Investment rationale Deal team Invested amounts (PLN M): The largest Polish provider of cloud based • Untapped market potential driven by increasing Paweł Sikorski ✓ In 2023: 80 contact center appl
Slide 22: Morele Group – leading e-commerce platform in Poland
22 Morele Group – leading e-commerce platform in Poland aggregating private labels Business profile Investment rationale Deal team Invested amounts (PLN M): A leading e-commerce platform in Poland, offering ✓ Significant potential for further development Paweł Sikorski ✓ In 2011: 6 customers a wide
Slide 23: Answear.com – the first Polish online multibrand fashion store
23 Answear.com – the first Polish online multibrand fashion store Business profile Investment rationale Deal team Invested amounts (PLN M): Answear.com is the leading and fastest growing ✓ E-fashion is a segment of the entire e-commerce Paweł Borys ✓ In 2013: 15 fashion online store in Poland. It op
Slide 24: Group structure and sources of revenue generation
24 Group structure and sources of revenue generation MCI Group structure as of 30.06.2024 ✓ In recent years, the MCI Group has gone through a process of intensive simplification and building a transparent organizational structure ✓ Currently, after the merger with PEM on 21 June 2021, MCI is the dir
Slide 25: Results summary – MCI Capital (standalone financial statements)
25 Results summary – MCI Capital (standalone financial statements) Profit and loss accounts for 6M 2024 and balance sheet as at 30.06.2024 PLN thousand 6M 2024 6M 2023 Change Change (%) Revaluation of shares 5 578 (3 434) 9 012 -262.4% P&L 6M 2024 vs 6M 2023 – MAIN CHANGES: 1. Investment profit decr
Slide 26: Results summary – MCI Capital balance sheet and business perspective
26 Results summary – MCI Capital balance sheet and business perspective [30.06.2024] Balance sheet perspective as at 30.06.2024 Business perspective/underlaying assets [standalone financial statements of MCI Capital ASI S.A.] value share in MCI's Underlying assets in PLN M fixed assets TFI shares 47
Slide 27: 25th anniversary of MCI
27 25th anniversary of MCI Overview of MCI vs traditional private equity NAV per share 1998 – … Since 1998, MCI has been supporting entrepreneurs and companies in their efforts towards achieving digital transformation and the position of European champions 25 business lessons for the 25th anniversar
Slide 28: Thank you for your attention
Thank you for your attention MCI Capital ASI S.A. Warsaw Unit (+48) 22 540 73 80 Rondo Daszyńskiego 1 (+48) 22 540 73 81 00-843 Warsaw Poland office@mci.eu 28