Beewize S.p.a. · MIL:BWZ
Beewize — Inferentia DNM — Non-Deal Roadshow (November 2002)
31 slides from Beewize's roadshow presentation, Nov 20, 2002
Slide 1: 3rd Road Show New Market
218 3 5 PRESENTATION FOR THE 261253211 30456 30456 FINANCIAL COMMUNITY 3rd Road Show New Market 20th November 2002 1
Slide 2: Agenda
Agenda Offering and positioning Our market Business trends Main economic-financial data Capital increase 2
Slide 3: Offering and positioning
Offering and positioning Enrico Gasperini - Chairman 3
Slide 4: Mission
Mission Inferentia DNM Group is one of the most prominent European players in the Web Integration and Digital Relationship Marketing, its 2001 consolidated sales revenues amounting to over € 37 mil. Inferentia DNM is strategic partner of many companies in the planning, implementation and management
Slide 5: Milestones
Milestones 2002 2001 2000 WPP new industrial Inferentia 1999 partner acquires 1998 DNM 1988 Birth of Inferentia Recapitaliza Group tion of Acquisition Birth of Onetone’s Inferentia of Grey Inferentia entry in Inferentia DNM Inferentia: Interactive Inferentia’s quoted by Group 100% France/ Birth of c
Slide 6: Our presence in Europe
Our presence in Europe Strong presence in the Italian and French market Operating presence in UK and Portugal as well as a commercial branch house in Spain More than 50% of our revenues are made outside our country InferentiaDNM Fullsix UK Headquarter Fullsix France Fullsix Portugal 6
Slide 7: Group repositioning in 2002
Group repositioning in 2002 Strategic presidium of the client with focus on the major business areas, particularly e-CRM and Relationship Marketing Strengthening our European Network through a single coordination system Maintaining an end-to-end offering for the companies (“in-depth production
Slide 8: The value pyramid of Inferentia DNM offering
The value pyramid of Inferentia DNM offering INTERNET, WIRELESS & ONE-TO-ONE CHANNELS CUSTOMER RELATIONSHIP Cross Media Events Macro-area break-down for 31% Relationship Advertainment roughly € 30 mil. of Marketing consolidated sales revenues Digital Advertising during the first nine months
Slide 9: Client portfolio - 2002
Client portfolio - 2002 Finance Retail & FMCG Industrial Goods & TLC •Ferrero •Gruppo Bipop-Carire •Barilla •FIAT •BNP/Paribas •Nestlè •Renault •Borsa Italiana •Lever •Pirelli •CCF/HSBC •Artemide •Enel •Credit Lyonnais •Luceplan •JWT •ING Direct, SGR, EB •Sperlari •IBM •BPER •Colgate Palmolive •Orac
Slide 10: Sales revenues break-down for each production process
Sales revenues break-down for each production process 10% 43% 29% 9% 9% PLANNING AND RESTYLING, SYSTEM TECHNOLOGICAL DEVELOPMENT REVAMPING, CONSULTING INTEGRATION MANAGED (CONTENTS AND EVOLUTION AND AND LICENCES SERVICES SW SOLUTIONS) MAINTENANCE SUPERVISION AND COORDINATION INFRASTRUCTURES Sales re
Slide 11: Our Market
Our Market Enrico Gasperini - Chairman 11
Slide 12: Inferentia DNM: Our market
Inferentia DNM: Our market The Italian market of digital services between Marketing and IT Media and marketing services investments IT Software & project services 15.000 * 9.488 mil.°° INFERENTIA DNM: OUR TRADITIONAL MARKET e-Business SW & project services Communication 3.548 mil.°° agencies (Above
Slide 13: e-Business market in Italy
e-Business market in Italy A € 3,548 million market in 2002, with a CAGR 01-03 of 29%, slowing down if compared with previous years (CAGR 99-01 of 52,5%), however still increasing CAGR 01-03 5.179 29% 5,500 5,000 4,500 3.548 4,000 3,500 3,765 3,000 2.419 2,500 1.539 2,584 2,000 1,500 682 1,793 1,000
Slide 14: e-Business core market segments
e-Business core market segments Inferentia DNM market, 1999-2003 Millions of Euros 1999 2000 2001 2002 E 2003 E 00/99 01/00 02/01 03/02 e-CRM 1.0 3.9 7.6 15.9 33.5 290.0% 94.9% 109.2% 110.7% e-DW business intelligence 0.0 2.6 8.5 20.2 37.5 226.9% 137.6% 85.6% SW application services for sites and po
Slide 15: The enlarged market of marketing services
The enlarged market of marketing services Multi-channel model for an integrated communication Brand Positioning & Promise Above Below Building DB To manage Brand Value customer experience TV Telemarketing Events Direct TV Radio Outdoor media Internet Channel Retail Integration Press Promotions Inter
Slide 16: Business Trends
Business Trends Marco Girelli - CEO 16
Slide 17: Highlights
Highlights We operate in the “marketing services” business Global market trends notwithstanding, the client’s expense rate for relationship marketing activities turns out to be evident and uninterrupted, and according to this, the use of digital technologies may thus generate relevant efficiency
Slide 18: Main targets reached
Main targets reached In 2002 the Management focused its attention on 3 major issues: Reduction of labour’s cost and restraint of fixed costs Thinning the structure of the Group and consolidating our presence in Italy and within the French Network Strengthening assets as well as the financial p
Slide 19: Reduction of fixed costs
Reduction of fixed costs The operating break-even point has been relevantly reduced… Total fixed costs 10.9 Cost of -27% Total fixed labour 12 mil. € costs 8.1 Annual savings 7.9 Cost of labour ~ 6.2 Other -23% fixed -7.6 mil. € costs Annual savings Other 2.8 fixed costs -39% -4.4 mil. € 1.7 Annual
Slide 20: Thinning the structure of the Group
Thinning the structure of the Group ...and the overall structure of the Group has been diluted End of 2001 End of 2002 E-Fluxa E-Fluxa WMC WMC FullSix Paris FullSix Paris Consolidated FullSix UK FullSix UK and FullSix Portugal FullSix Portugal operating FullSix BV Seven busin
Slide 21: Profit trends and EBITDA per Qt.
Profit trends and EBITDA per Qt. Compared with the situation of 12 months ago, the Group, considering the same revenues, is now profit-bearing +30/40% 12.000 20% 10.309 * 10.537 10.500 10.700 9.588 10.000 10% 10% 6% 8.000 7.122 2% 6.082 0% 6.000 4.000 -10% 2.000 -19% -20% -23% 0 1Q 2001 2Q 2001 3Q 2
Slide 22: WPP partnership
WPP partnership WPP partnership will allow a substantial decrease of client access costs, thus privileging, where possible, the offering of services complementary to those of other agencies from the Group WPP can boast in Italy more than 700 clients, managed by 30 different companies, chiefly operat
Slide 23: WPP partnership
WPP partnership WPP Advertising Network: Web strategies -Young & Rubicam ON-& OFF-LINE E-brand strategies -J Walter Thompson INTEGRATED Web site concept -Red Cell COMMUNICATION Web advertising Brand building e-CRM profiling Traditional advertising Design & development Joint venture with J. Walter
Slide 24: Main economic-financial data
Main economic-financial data Marco Corradini - CFO 24
Slide 25: III Qt. 2002
III Qt. 2002 A III Qt. 2002 finally reaching the break-even point… € millions IV Q 2001 IQ 2002 IIQ 2002 IIIQ 2002 Sales revenues 10.3 * 9.6 10.5 10.7 EBITDA (4.9) (3.6) (2.4) 0.2 EBITA (5.8) (4.7) (3.5) (0.9) EBIT (53.5) (5.5) (4.7) (1.7) Earnings before taxes (62.5) (6.7) 2.6 (3.5) Fixed assets 45
Slide 26: Strengthening financial position and assets
Strengthening financial position and assets Forecasts derived from performances foreseen in the General Agreement for the makeover of the Group - 17/04/2002 +15.2 Data expressed +2.0 +7.0 in mil. Euros +10.5 (24.3) Credit waiver by Surplus Pro-forma NFP +20.0 Bipop-Carire derived from at 31/3/2002 t
Slide 27: Financial position at 30/09/2002
Financial position at 30/09/2002 Over 9 mil. Euros required to sustain reengineering costs, extraordinary costs as well as circulating capital absorption 15.2 1.1 2.4 1.5 2.3 5.3 0.2 2.8 Pro-forma Less receipts EBITDA Extraordinary Reengineering Working EBITDA Pro-forma for AUC and 2° Q costs costs
Slide 28: Detailed net financial position at 30/9/2002
Detailed net financial position at 30/9/2002 Available cash approximately amounts to 15 mil. Euros… ~15 8.1 (*) 1.9 2.2 2.8 Available Mid-term debt Ordinary Advances from Net cash vs. Bipop: current self-liquidating financial expiry date accounts invoices position 2004/2006 (*) of which 7.5 are capi
Slide 29: Capital Increase
Capital Increase Marco Corradini – CFO 29
Slide 30: Overtime financial operations
Overtime financial operations Conclusion of ordinary capital increase for € 20 mil., its adhesion amounting to 94.9% of the total offering (€ 19 mil.) Fineco signed capital increase excluding an € 10.5 millions stock option for an equivalent credit line towards the company Fineco renounced a €
Slide 31: Shareholding
Shareholding Ordinary capital today Total capital n. 9.326.619 stocks n. 10.639.119 stocks Market Market Fioravanti 10,6% Onetone Fioravanti 12,0% 6,5% Group Onetone 7,4% 31,6% Group Gasperini Gasperini 36,1% 7,1% 8,1% WPP 19,6% Fineco WPP Fineco 24,6% 22,4% 14,0% Ordinary total capital after saving