Slide 1: Corporate Presentation 2020
Corporate Presentation 2020
Slide 2: Disclaimer
❖ This document has been created by Profile Software (Profile) in order to be used for specific purposes in corporate presentations. The information included in this presentation has not been reviewed by an independent authority. No belief, position or opinion expressed should be based on the impart
Slide 3: Company Introduction
Financial Technology Company Introduction Financials Products, Technology Looking forward 3
Slide 4: Introduction
Introduction Profile Software is ❖ a world-class Financial Software Provider Financial Technology ❖ of Mission Critical Solutions ❖ to the modern Banking, Fintech and Investment Management industries ❖ offering innovative technologies and successful implementations 4
Slide 5: Established in 1990, 250 clients in 40 countries
❖ Established in 1990, 30 years of experience ❖ 250 Clients in 40 Countries ❖ Offices in 8 key financial centers ❖ 190 employees ❖ 1st to introduce a natively developed mobile wealth management app ❖ 1st to introduce digital banking functionalities for challenger banks in the UK, France etc. ❖ 1st t
Slide 6: Milestones 1990-2020
Milestones 1990-2020 Dubai Office | 4 continents | Launch of RiskAvert Acquisition of BeCom, Gartner & IBS industry Acquisition of Login SA Profile Software Analysis & GlobalSoft acknowledgement Paris Office founded The company Launch of IMSplus 2.1, FMS.next Open Banking | becomes SA Mobius & Plexu
Slide 7: Offices in 8 key financial centers
strong local relationships and insights ❖ Athens, Greece ❖ London, UK ❖ Paris, France ❖ Dubai, UAE ❖ Nicosia, Cyprus ❖ Miami, USA ❖ Singapore ❖ Thessaloniki, Greece Offices in 8 Key financial centers Presence in 40 countries 7
Slide 8: Indicative Clientele
Indicative Clientele Greece Europe MEA, APAC Americas 8 Trademarks are property of the respective owner
Slide 9: Factors
Factors ❖ ❖ Strategically positioned on new trends ❖ Value to the Clients ❖ ❖ Time to market ❖ Flexible, Agile, Scaling mindset ❖ ❖ Servicing large clients for a long time Financial Technology ❖ Industry reports; Gartner, IBS, Celent, Forrester ❖ ❖ Profitable business, Cash flows ❖ Reinvestment in R
Slide 10: Financials
Financial Technology Company Introduction Financials Products, Technology Looking forward 10
Slide 11: Highlights
Highlights ~27 - ~67% 14% 40% 30% Recurring Revenues EBITDA margins Growth Increase ~15 - 20% ~65% in Sales in EAT (2019) (2019) R&D Investments International Sales 11
Slide 12: Growth & Solid margins
& Solid margins CAGR +19% Revenues +14% in 2019, CAGR (Intl) +25% on top of +20% in 2018 EBITDA margins ~28-30% P&L (in €’k) FY2017 FY2018 FY2019 Δ% Key financials (in € mil) + 20-25% Turnover 11,557 13,829 15,764 +14% 15.8 EBITDA 3,930 4,056 4,346 +7% +14% 13.8 EBITDA margin 34% 29% 28% (1%) +20% 1
Slide 13: Revenue
Revenue Sales (in € mil) 15.8 13.8 11.5 5.6 Revenue Breakdown by Geography (2019) 5.1 Americas 4.3 5% 8.7 10.2 MEA & APAC 7.2 16% 2017 2018 2019 Europe International Domestic 44% Revenue Evolution by Origin 100% Greece 90% 35% 80% 70% Europe Greece MEA & APAC Americas 60% 50% 40% 30% 20% 10% 0% 2006
Slide 14: Revenue
Revenue Recurring revenues ~65%, New clients’ acquisition rate from Maintenance, SaaS, PayG & Additional ~15% Users Own developed products Loyal clientele ~98%, very low churn ~95% Revenue Types 20 mil. € 100.0% 95.0% 90.0% 15 mil. € 2.7 85.0% 2.7 2.7 80.0% 10 mil. € 2.3 2.1 75.0% 1.8 70.0% 5 mil. €
Slide 15: Balance Sheet
Balance Sheet Balance Sheet FY2017 FY2018 FY2019 Δ% Ratios Assets Tangible & Intangible Assets 13,751 12,680 11,522 (9%) 1.9 1.8 Other non Current Assets 811 789 1,085 38% 1.8 1.0 0.9 Non Current Assets 14,561 13,469 12,607 (6%) 0.8 Inventories 188 184 93 (49%) Trade Receivables 6,895 3,880 3,949 2%
Slide 16: Contracts
Contracts FY’2017 €6.8 mil, FY’2018 €8.9 mil (+30%), while +37% 12.2 FY’2019 €12.2 mil. (+37%) +30% 8.9 6.8 Sales 2019 2.01 1.24 FY'2017 FY'2018 FY'2019 0.88 0.88 0.78 0.80 0.37 0.34 0.33 0.33 0.15 0.14 0.11 0.10 0.08 16
Slide 17: Products, Technology
Financial Technology Company Introduction Financials Products, Technology Looking forward 17
Slide 18: Technology
technology ❖ Emerging technologies driving the evolution of Financial Industry (RPA, cloud, AI, etc.) ❖ Multiple deployment methods (SaaS, BPO, etc.) ❖ Enterprise agile practices enabling innovation Products & & effective delivery Technology ❖ DevOps engagement achieving higher Technology efficiency
Slide 19: Financial Services Solutions
Financial Services Solutions Retail & Customer Corporate Payments Fully Centric Systems Compliant Banking Fast Time Open Risk Treasury To Market Management Architecture Management & Compliance Turn Key Agile Wealth Fund Management Management Cloud Easily Enabled Deployable 19
Slide 20: New trends
new trends • Core Banking • Wealth Management • Digital Banking • Asset / Fund Management • Custody Open Banking Wealth / APIs Tech • Treasury Intelligence Treasury / • Robo Advisory • Risk Automation Risk RPA / AI • Global Streamlining Mgmt Future • Artificial Intelligence Tech InsurTech • Insuranc
Slide 21: Looking forward
Financial Technology Company Introduction Financials Products, Technology Looking forward 21
Slide 22: Looking forward
%Profile Software Looking forward *% Growing and diversified market * Competent Team *% *% Continuously upgrading product & delivery offerings Strategy to deliver digital solutions for the future needs * Strong financial fundamentals « Recurring revenues and balanced portfolio of clients, products,
Slide 23: Growing Digitalisation
& Growing Digitalisation Financial Services lead IT spending 2025: $4.8 trillion European banks to spend 1/3 of 33% agree that digital economy their total IT budget on new technology will benefit, once this is past Digital Payment is higher in GCC 85% will work from home including in financial than
Slide 24: Need for digital transformation has never been greater
has never been greater Data Management Dispersed Tough Market Conditions High Operating Costs Digitalisation is becoming a must Slow Market Responsiveness Diverse Competitors Poor Customer Experience Demands for Personalized Experience Overcome Future Risks Building the modern workplace 24
Slide 25: Team
❖ Competent skills Team ❖ Global experience and culture ExCo ❖ Hiring from International peers ❖ Lean structure CEO CFO, COO CTO CBO CMO CHRO Business Units BANKING RISK TREASURY INVESTMENT ENTERPRISE Solutions Solutions Solutions Solutions Pre-Sales Ticketing Pre-Sales Pre-Sales Pre-Sales Services
Slide 26: EBITDA vs growth peers 2019
- 2019 50.00% 45.00% MYOB 40.00% FIS Temenos 35.00% FactSet Craneware Wolters Kluwer 30.00% Fiserv EBITDA Profile Software Fidessa Ebitda 25.00% Infosys median 20.00% EpsilonNet First Derivatives 15.00% Entersoft Unisystems Sword Gresham 10.00% Intralot Space Intrasoft 5.00% 0.00% -10.00% -5.00% 0.0
Slide 27: Multiples
PROFILE xEV over: 2019 2020 32.0 multiples Sales Ebitda 2.10 8.00 2.08 6.10 30.0 28.0 26.0 24.0 22.0 20.0 18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 EV / SALES EV / EBITDA Profile Software Multiples 12.0x 30.0x Peers Multiples 10.0x 25.0x 20.0 8.0x 20.0x 15.0 6.0x 15.0x 13.0 4.0x 10.0x 6.4 4.5 2.0
Slide 28: Value growth potential
Assuming c.20% growth in 2021 value growth potential and 4x EV/Sales, 15x EV/Ebitda, Price corresponds to c.€6.50 ps. ❖ Intl sales 2019: 65% ❖ Focused & upgraded product portfolio ❖ Own developed products c.95% ❖ Ebitda: 28% ❖ Growing market & upside ❖ Intl sales 2008: 16% ❖ Own developed products:
Slide 29: Drivers of value
of value Attractive valuation Growing market Commercial expansion Revenue growth M&A Quality revenue Complementarities FY’2019 growth Accelerate growth Solid margins Robust technology Productivity Delivery automations Re-investment Scalability KPI’s Transformation 29
Slide 30: Thank you
Thank you www.profilesw.com infoP &% Profile Software