Growens S.p.a. · MIL:GROW
Growens — MailUp Group — Investor Presentation (February 2021)
54 slides from Growens's investor presentation, February 2021
Slide 1: MailUp Group overview and latest results
MailUp Group overview and latest results February 2021
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) 56% since IPO • Focus: data-driven omni-channel ✔ +47% FY 2018 (organic) • Serving 23,000+ B2
Slide 4: From startup to leading European player in SAAS cloud software
From startup to leading European player in SAAS cloud software REVENUES 70 ACQUIRED DATATRICS (NL) €5M GOVERNMENT GRANT 60 ABB: RAISED €6M, ACQUIRED MAILCULT LEGALITY RATING 50 ACQUISITIONS: AGILE TELECOM (ITA), (IT) ★★★ GLOBASE (DK), ACUMBAMAIL (ES), BEE (USA) SPUN-OFF 40 30 IPO ON LEADERSHIP AIM I
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 1H 2020
Revenue distribution 1H 2020 Subscription-based business model MailUp 30% Rest of Europe 42% MailUp 70% Agile Telecom USA 11% Italy 44% Datatrics 100% BEE 100% Acumbamail 90% Acumbamail 10% Non Recurring Recurring Revenues (~ 30%) Other 3 % MailUp Group 6
Slide 7: Clients that worked with us
Clients that worked with us RETAIL & E-COMMERCE BANKING & FINANCE MEDIA & DIGITAL SERVICES TECHNOLOGY, PHARMA & AUTOMOTIVE MISCELLANEOUS INSTITUTIONS TRAVEL & HOSPITALITY MailUp Group *Representative list of our past and current clients. Logos are the property of the respective businesses and are fo
Slide 8: 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 8
Slide 9: 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 10: 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 11: 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 playe
Slide 12: agiletelecom.com
agiletelecom.com MailUp Group 12
Slide 13: Agile Telecom: the A2P wholesale messaging gateway
# Agile Telecom: Companies 300m the A2P Software wholesale applications 10k messaging SMS Gateways gateway 1k Mobile carriers 1.2k End users 5.2b MailUp Group 13
Slide 14: 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 15: 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 16: beefree.io
—lappy— QED WHITE & foam \ Ca \\ ih 7
Slide 17: 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 18: 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 19: 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 20: 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 content creation, • Small niche market starting from email and landing • €2.6M FY 2019 sales • Bu
Slide 21: datatrics.com
datatrics.com MailUp Group 21
Slide 22: Datatrics
Datatrics AI-powered actionable Customer Data Platform (CDP) MailUp Group 22
Slide 23: Datatrics + MailUp
MailUp (excl. Datatrics) Datatrics areas of expertise areas of expertise Datatrics + MailUp MailUp Group 23
Slide 24: Datatrics: Product, business, technology
Datatrics: Product, business, technology MailUp Group 24
Slide 25: Datatrics: Create 360° customer profiles
Datatrics: Create 360° customer profiles MailUp Group 25
Slide 26: Datatrics: Future behaviour
Datatrics: Future behaviour MailUp Group 26
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 27
Slide 28: 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 29: Business Unit highlights: Datatrics
Business Unit highlights: Datatrics Company Competition Strategy Financials • Fast-growing startup • Mid-market positioning • Cross-selling to MailUp • EV = € 3.8M (€ 2.3M in acquired in the Netherlands where large US players clients in Italy and Latam cash, € 1.5M in newly issued in 2018 (Adobe, Sa
Slide 30: acumbamail.com
acumbamail.com MailUp Group 30
Slide 31: Acumbamail
Acumbamail • Low-touch solution for SMEs in Spain and LatAm offering email, SMS, landing pages and marketing automation • Self provisioning solution sold with a freemium model • 55,000+ users o/w 3,000+ paying • 1.2m Revenues (94% recurring) with 30% ebitda and 30% growth • 11 employees • New produc
Slide 32: 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 33: Needs we serve
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 34: The competitive landscape
The competitive landscape MailUp Group 34
Slide 35: 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 36: Products & Markets
Products & Markets MARKETING IT MailUp Group 36
Slide 37: Main competitors
Main competitors MailUp / Acumbamail Agile Telecom Datatrics BEE Italy BEE PRO (FOR EMAIL DESIGNERS) Europe Others Latin America BEE PLUGIN (FOR DEVELOPERS) Rest of the World MailUp Group *Representative list of our competitors for business units/geographies. Logos are the property of the respective
Slide 38: P&L Revenues 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 40 ORGANIC YOY +26% +21% 3.8 4 27.3 30 2.9 21.6 3 2.4 20 2 9.5 0.8 10 6.3 9.1 0.5 0.7 1 0 0 FY 2013* FY 2014* FY 2015* FY 2016 FY 2017 FY 2018 FY 2019 FY 2013* FY 2014* FY 2015* FY
Slide 39: By business unit
By business unit Revenues EBITDA 45 +58% 41.5 40 35 +20% -30% 31.4 3 2.8 2.8 2.7 30 26.3 2.5 2,5 2.3 2.3 25 2 20 +10% 1,5 1.4 1.3 15.1 14.8 1.3 +137% 15 13.8 0.9 12.3 11.9 1 0.9 +23% 10 +140% 0,5 0.3 0.2 0.3 0.3 0.4 0.7 0.3 +35% +111% 5 0.2 0 0 0 (0.4) 2.6 2.8 2.4 2.1 0 0.7 0,9 1.2 1.2 0.6 1.2 0 1.0
Slide 40: Balance Sheet
Balance Sheet Shareholders’ Equity Net Cash Position 18 ABB 15.9 17.0 15 14.0 7.3 7.9 8 7.0 12 6.4 6 9 7.0 6.2 3,7 3.7 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** 1H 2020*** *In 20
Slide 41: 9m 2020 NFP
Consolidated Net Financial Position 30/09/2020 31/12/2019 Change Ch.% A. Cash 10,109,831 8,946,689 1,163,142 13.0 % B. Cash equivalents - C. Assets held for sale 195 490,998 (490,803) (100.0 %) 9m 2020 NFP D. Cash and cash equivalents (A) + (B) + (C) 10,110,026 9,437,687 672,339 7.1 % E. Current fin
Slide 42: 9m 2020 by Business Unit
9m 2020 by Business Unit SALES EBITDA In EUR 30/09/2020 30/09/2019 % 30/09/2020 30/09/2019 % MailUp 11,877,544 10,956,026 8.4% 2,815,843 2,356,892 19.5% Agile Telecom 31,431,408 29,969,389 4.9% 923,134 836,208 10.4% BEE 2,816,916 1,771,334 59.0% 297,307 525,550 (43.4%) Datatrics 2,117,262 1,595,692
Slide 43: 9m 2020 by Business Line
43 9m 2020 by Business Line Item (EUR) 30/09/2020 % 30/09/2019 % Change Ch.% Revenues from Email 12,159,305 25.4% 10,314,459 23.7% 1,844,846 17.9% Revenues from SMS 32,628,208 68.2% 30,647,938 70.3% 1,980,270 6.5% Revenues from Predictive Marketing 2,043,189 4.3% 1,509,173 3.5% 534,016 35.4% Other R
Slide 44: 4Q 2020 and FY 2020 sales preview
44 4Q 2020 and FY 2020 sales preview 4Q 2020 FY 2020 Business Unit Q4 2020 Q4 2019 Var % Business Unit FY 2020 FY 2019 Var % MailUp 4,212 4,541 (7.2%) MailUp 15,768 15,829 (0.4%) Agile Telecom 10,354 9,981 3.7% Agile Telecom 40,729 38,218 6.6% BEE 1,224 906 35.1% BEE 4,038 2,932 37.7% Acumbamail 484
Slide 45: Quarterly sales by business unit / 1
Quarterly sales by 12,000 Agile Telecom business unit / 1 11,000 10,000 10,259 9,543 9,981 10,032 10,477 9,969 10,354 9,000 8,434 7,919 8,000 7,000 6,000 5,295 5,270 MailUp 5,041 5,000 5,000 4,541 4,210 4,212 4,111 AVG. Q 3,975 4,040 3,980 3,858 4,000 GROWTH 4,000 3,539 3,636 3,496 +9.9% 3,201 3,282
Slide 46: Quarterly sales by business unit / 2
Datatrics Quarterly sales by 1,000 800 642 780 827 722 680 713 business unit / 2 600 400 290 310 370 476 AVG. Q 230 170 GROWTH 200 110 140 50 +11.1% - - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2018 2019 2020 BEE Acumbamail 1,400 1,000 1,224 1,200 951 1,003 800 AVG. Q 1,000 906 GROWTH 83
Slide 47: Board of Directors
Board of Directors Matteo Monfredini Armando Biondi Co-founder - Chairman & CFO Non Executive Director • 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 Network srl
Slide 48: Stock Information / Shareholders
Stock Information / Shareholders Gorni Nazzareno* CEO Stable control 10.6% • Founders entered a shareholders’ agreement Azzali Luca* regarding 50.1% of the share capital, in equal measure Director, BU MailUp (2018-2021 lock-up) 10.2% Market 36.8% Market friendly Miscia Alberto* • 1 female Director,
Slide 49: Prices & Volumes 5 years
AIM ITALIA Prices & Volumes 5 years ISIN IT0005040354 Bloomberg MAIL IM Reuters MAIL.MI CORONAVIRUS Number of Shares 14,971,046 EMERGENCY AGILE Fully Diluted 17,374,146 TELECOM BEGINNING OF DATATRICS o/w Datatrics 1,266,891 ACQUISITION GLOBASE ACQUISITION ABB INTERNATIONAL ROADSHOW ACQUISITION SOP 1
Slide 50: ESG (Environment, Social, Governance)
ESG (Environment, Social, 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 sustaina
Slide 51: List of Parties
List of Parties NOMAD AUDIT & ACCOUNTING SPECIALIST BROKER / COVERAGE LEGAL ADVISOR MailUp Group 51
Slide 52: 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 52
Slide 53: Disclaimer
53 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 54: Thank you
Thank you investor.relations@mailupgroup.com MailUp Group