Slide 1: Nine Months 2015 Results
Nine Months 2015 Results 25. November, 2015
Slide 2: Disclaimer
Disclaimer This document has been issued by windeln.de AG (the “Company”) and does not constitute or form part of and should not be construed as any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall any part
Slide 3: Executive summary: windeln.de remains on course in third quarter
Executive summary: windeln.de remains on course in third quarter Business Update Successful introduction of direct delivery to China with strong acceptance by customers Closing of feedo and bebitus acquisitions – integration started Windelbar with new look, new name (nakiki) and new platform
Slide 4: Business Update
ae") Wirdelnde Everything for my baby Business Update
Slide 5: Successful introduction of direct delivery to China
China Successful introduction of direct delivery to China Existing delivery option 1: Via freight forwarder Advantages 1 2 4 5 6 Lower delivery costs 3 Shipping to customers Customer Customer Services by Shipping Arrival of registration registration at from freight through parcel at windeln.de for
Slide 6: Strong acceptance of direct delivery by Chinese customers
China Strong acceptance of direct delivery by Chinese customers 1 Share of direct delivery orders Since end of August, customers have 80% the choice between Delivery through freight forwarders 70% NEW: Direct delivery to China 60% In addition: Express delivery option with 50% simplified cust
Slide 7: Positive impact from end of one-child policy in China
China Positive impact from end of one-child policy in China “China Ends One-Child policy – China's Communist party has scrapped its one-child policy, allowing all 35 Expected net increase couples to have two children for the first time in more of 10% per year in than three decades.” The Guardian (29
Slide 8: Good progress on acquisitions
Acquisitions Good progress on acquisitions Closing 3. July 2015 6. October 2015 €8m (cash) + €2m shares €5m (cash) Purchase price + earn out + earn out Consolidation from Q3 2015 onwards from Q4 2015 onwards Integration in progress initiated Expected full year at least €10m approx. €15m revenues 201
Slide 9: Windelbar will rebrand to Nakiki
Windelbar Windelbar will rebrand to “Nakiki” to align with wider range of customers, products and international shops Relaunch in Dec 2015 • Diaper-related name doesn‘t fit ongoing expansion New name, new look, new platform into kids category • New name and logo fits ranges of brands, • Limited inte
Slide 10: Operational and other improvements
Operations and Legal Operational and other improvements +50% more shelf space capacity + further expansion option Move of windelbar Productivity improvement of about 20% as a result of better warehouse warehouse layout and higher degree of automation Successful introduction of new storage syst
Slide 11: Financial Update Nine Months 2015
Financial Update Nine Months 2015
Slide 12: Growth and margin improvement continues for nine months
Growth and margin improvement continues for nine months Growing Growing Growing Growing revenues gross margin operating contribution profitability Revenues in €m Gross Profit in %, €m Operating Contribution1 in %, €m Adj. EBIT2 in €m, % +22.7% +25.5% +5.8% +7.3% -€6.7m -€9.6m +76% 118.3 +97% 30.2 8.
Slide 13: Key performance indicators continued to improve for 9 months
Key performance indicators continued to improve for 9 months… # of active customers1 # of repeat customer # of average orders5 and Mobile traffic share7 in thousands orders (LTM)3 average order value6 in thousands 4.82x 4.71x +15%pp 61% +73% 743 +59% 1.677 €87 €90 46% 430 967 9M 2014 9M 2015 9M 2014
Slide 14: ...and Q3 (including feedo)
…and Q3 (including feedo) Q1 ‘12 Q2 ‘12 Q3 ‘12 Q4 ‘12 Q1 ‘13 Q2 ‘13 Q3 ‘13 Q4 ‘13 Q1 ‘14 Q2 ‘14 Q3 ‘14 Q4 ‘14 Q1 ‘15 Q2 ’15 Q3’15 Site Visits (in thousand) ¹ 1,385 1,697 2,263 2,837 4,682 6,120 5,759 5,874 7,323 8,483 10,647 12,459 14,299 14,785 18,516 Mobile Visit Share (in % of Site 9.9% 13.2% 16.
Slide 15: Q3 financials impacted by four factors
Q3 financials impacted by four factors 1 Feedo Consolidation 2 Direct Delivery to China High growth profile but early in profitability development Very positive but with negative one-time accounting impact • Revenues in Q3 €3.1m (approx.+100% growth yoy) • IFRS revenues recognition at delivery of pr
Slide 16: Continued revenues growth across our regions
Continued revenues growth across our regions… Group DACH Seasonal in €m in €m Impact +76% +79% 51.3 118.3 +63% +64% 67.1 28.7 43.3 18.8 26.5 11.4 9M/14 9M/15 Q3/14 Q3/15 9M/14 9M/15 Q3/14 Q3/15 China Rest of Europe Direct Delivery Consolidation in €m in €m China Feedo +65% 61.4 +40% +328% +626% 37.1
Slide 17: Adopted segment structure reflects expansion
Adopted segment structure reflects expansion … Business Segment Shops 9M Revenues Online retailer for baby and toddler German Shop products in Germany € 97.2m and for customers in China Online retailers for baby and toddler products in International Shops € 8.8m Europe ex Germany (feedo only Q3) Fla
Slide 18: ...and strong growth of international segment
… and strong growth of international segment German Shop International Shops Shopping Clubs Revenues, €m Revenues, €m Revenues, €m 8.8 97.2 Direct Delivery Excl. Feedo: 12.4 +65% & Seasonal feedo 3.1 +134% 9M Impact +151% Q3 5.4 +114% 59.0 +265% +41% feedo 3.3 5.6 5.8 +117% +500% 5.1 32.7 23.2 2.4 2
Slide 19: Margins on track on 9 months basis despite Q3 specific topics
Margins on track on 9 months basis despite Q3 specific topics German Shop International Shops Shopping Clubs Revenues growth year-over year, in % Revenues growth year-over year, in % Revenues growth year-over year, in % +65% +40% +265% +500% +114% +116% Adjusted EBIT Contribution margin, in % Adjust
Slide 20: Operating contribution continuously increased
Operating contribution continously increased Operating contribution = Gross profit – fulfillment costs – marketing costs 2014 2015 in €m 8.673 7.310 3.885 3.581 2.311 1.157 Q1 H1 9M Q1 H1 9M 19
Slide 21: Group profitability improvement continues
Group profitability improvement continues Third Quarter Nine Months % revenues 2014 2015 Delta 2014 2015 Delta Gross profit 22.8% 24.4% 1.6pp 22.7% 25.5% 2.8pp Fulfillment 1 11.4% 13.2% 1.8pp 11.7% 11.3% (0.4)pp Marketing 2 5.4% 8.0% 2.6pp 5.2% 6.9% 1.7pp Operating 5.8% 7.3% 1.5pp 5.9% 3.1% (2.8)pp
Slide 22: Strong liquidity position
Strong liquidity position Pro forma liquidity bridge (30 September 2015) in €m 122.6 -5.1 14.0 121.5 -6.1 -0.6 -0.4 -8.1 116.4 107.5 Cash & cash Operating Investing Other Acquisition Cash Revolving Liquidity Acquisition Pro forma equivalents cash flow cash flow changes feedo Sep 2015 Credit (max.) b
Slide 23: Full year outlook 2015
Full year outlook 2015 Actuals 9M/15 Outlook 2015 Specification (incl. feedo) (incl. feedo + bebitus) Revenues +76% Approx. +75% (% yoy growth) Gross Profit 25.5% Approx. 25% Margin (%) Adj. EBIT (8.1)% (7) to (8)% Margin (%) 22
Slide 24: Appendix
Appendix
Slide 25: Selected business segments and geographic data
Selected business segments and geographic data Business segments Geographic region In €k 9M 2015 9M 2014 Q3 2015 Q3 2014 In €k 9M 2015 9M 2014 Q3 2015 Q3 2014 Revenues 118.312 67.123 43.286 26.485 Revenues 118.312 67.122 43.286 26.486 German Shop 97.173 58.953 32.735 23.211 DACH3 51.331 28.716 18.79
Slide 26: Income statement
Income statement In €k 9M 2015 9M 2014 Q3 2015 Q3 2014 Revenues 118.312 67.122 43.286 26.486 % growth 76.3% 63.4% Cost of sales -88,116 -51,860 -32,712 -20,455 Gross profit 30.196 15.262 10.574 6.030 % margin 25.5% 22.7% 24.4% 22.8% Selling and distribution expenses -34.122 -18.470 -13.759 -7.042 Ad
Slide 27: Balance sheet and cash flow statement
Balance sheet and cash flow statement Consolidated statement of financial position Consolidated statement of cash flows In €k Dec 2014 Sep 2015 In €k 9M 2015 9M 2014 Q3 2015 Q3 2014 Total non-current assets 4,523 21,813 Net cash flows from/used in -9,926 -5,642 -6,109 -508 Inventories 10,754 18,091
Slide 28: Selected key performance metrics - Definitions
Selected key performance metrics - Definitions 1) We define Site Visits as the number of series of page requests from the same device and source in the measurement period and include visits to our online magazine. A visit is considered ended when no requests have been recorded in more than 30 minute
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