Tern PLC · LSE:TERN
Tern — H1 2019 Earnings Presentation
14 slides from Tern's earnings presentation, October 2019
Slide 1: Building great companies - Interims 2019
Building great companies Interims 2019 Private and Confidential 1
Slide 2: Important Notice
Important Notice The information contained in these slides and the accompanying oral presentation (together, the "Presentation") have not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 ("FSMA"). The information contained in this Presentation h
Slide 3: Summary of the 6 months ended 30 June '19
Summary of the 6 months ended 30 June ‘19 An AIM listed investing company, with strong links to Silicon Valley, dedicated to investing in high growth IoT businesses Strong growth in value of investment portfolio, net assets and turnover of portfolio Net assets per ordinary share has increased ye
Slide 4: HY 2019 key metrics
HY 2019 key metrics HY 2018 HY 2019 % Change Value of investment portfolio (£’000) 11,549 15,794 +37% Net assets (£’000) 13,942 17,478 +25% Loss before tax (£’000) (221) (623) -182% Increase in turnover of portfolio* 58% 50% Net asset value per ordinary share 6.2p 6.9p +11% 4 * Excluding Push Techno
Slide 5: Balance sheet
Balance sheet June 2018 June 2019 £’000 £’000 Investments 11,549 15,794 Current Assets 2,671 2,153 Total Assets 14,221 17,947 Current liabilities (278) (468) Long term liabilities - - Equity 13,942 17,478 Total Equity and liabilities 14,221 17,947 5
Slide 6: Long-term value creation
Long-term value creation 01. Clarity of focus • IoT / IoMT • UK investees, US opportunity Busines 02. Quality s investments Drivers • Device Authority and 04. Exit, Fundamental – superb positioning and industry reinvest and credibility “go again” • Selected additional deals building sector and busin
Slide 7: Focused on delivering on strategic objectives
Focused on delivering on strategic objectives De-risk and drive value by building great companies Deliver net asset value and net Portfolio Diversification asset value per share growth Realisations through trade or Expand Co-Investor Network other strategic partners 7
Slide 8: NAV growth over time
NAV growth over time NAV/NAV per share 9.4 0.2 944 fase? 8 1 8 2013 2014 2015 2016 2017 2018H1 2018H2 2019H1 ME NAV (£000) ==NAV/Share (pence) tern”
Slide 9: Solving specific problems
Solving specific problems Tern targets its investments in three areas of the IoT market: IoT security solutions and messaging platforms which IoT platforms that provide IoT systems integration and provide the user with an data analytics, data storage automation companies interface to connect and to
Slide 10: Internet of medical things
Internet of medical things Growth rates between 2017 and 2022E 10 Source: Progressive Research
Slide 11: IoT spending within manufacturing sector
IoT spending within manufacturing sector A shift from hardware to software & services (global billions $) 11 Source: Progressive Research
Slide 12: 2019 portfolio priorities
2019 portfolio priorities Providing hands-on support to achieve value creation and making introductions which help our companies achieve scale and a presence in the USA; Strengthening management and boards where appropriate; Syndication of post-seed round investments in our companies, focusing
Slide 13: Building great companies
Building great companies Continue to de-risk and drive value by building great companies Focus on value creation within portfolio companies with aim to achieve fair value uplift – direct input from Tern investment directors Expand our participation in the start-up ecosystem in the UK, through
Slide 14: Questions
Questions 20 Eastbourne Terrace London, W2 6LG e: info@ternplc.com t: 020 3807 0222 ternplc.com 14