Platform Group Se & Co. Kgaa · XETR:TPG0
Platform Group Se & Co. Kgaa — fashionette — Berenberg and Goldman Sachs Eleventh German Corporate Conference 2022
37 slides from Platform Group Se & Co. Kgaa's conference presentation, Sep 19, 2022
Slide 1: Berenberg and Goldman Sachs Eleventh German Corporate Conference
Berenberg and Goldman Sachs Eleventh German Corporate Conference 19 September 2022
Slide 2: Today's Agenda
TODAY’S AGENDA 1 fashionette at a glance 2 Addressable market 3 Business model 4 Achievements in FY 2021 5 H1 / Q2 2022 highlights 6 Résumé 7 Q&A
Slide 3: The Management Board: Extensive E-Commerce Experience
THE MANAGEMENT BOARD: EXTENSIVE E-COMMERCE EXPERIENCE Operations, Strategy, Category Performance Management, Finance, Marketing, Business Brand Management, Intelligence, Product HR, Investor Relations, Management, IT Sustainability Thomas Buhl Georg Hesse COO / CTO CEO • Amazon (11 years); Sr. Categ
Slide 4: fashionette at a Glance
FASHIONETTE AT A GLANCE
Slide 5: Our Vision
OUR VISION BECOMING THE NUMBER ONE EUROPEAN DATA-DRIVEN E-COMMERCE GROUP FOR PREMIUM AND LUXURY FASHION ACCESSORIES 5
Slide 6: fashionette at a Glance I
FASHIONETTE AT A GLANCE I SOLID TRACK RECORD net PREMIUM AND LUXURY FASHION ACCESSORIES 2008: Company foundation revenue to complete and accentuate a woman’s outfit 2013: Start profitable growth EUR 134m € 2021: Acquisition of Brandfield (2021) > 300 brands (2021) >260 EMPLOYEES ACTIVE & LOYAL CUSTO
Slide 7: fashionette at a Glance II
FASHIONETTE AT A GLANCE II OUR ADDRESSABLE MARKET OUR BUSINESS MODEL OUR ACHIEVEMENTS IN 2021 … is highly resilient … is focused on profitable growth … beauty launch … is growing … is supported by strong unit economics … own brand strength … will be expanded by us … resonated with our customers … fi
Slide 8: Our Mission Based on Our Unique Brand Positioning
OUR MISSION BASED ON OUR UNIQUE BRAND POSITIONING Approachable General fashion retailer We make personalized online shopping of premium and luxury fashion accessories available to every woman. Neutral How we keep this inspiration alive: • More than 25,000 SKUs from over >300 designer brands • attrac
Slide 9: Addressable Market
cle ADDRESSABLE MARKET
Slide 10: Large and Expanding Total Addressable Market Opportunity
LARGE AND EXPANDING TOTAL ADDRESSABLE MARKET OPPORTUNITY European luxury & accessories market >€ 160bn Active market2 for fashionette >€ 60bn Active market2 online for fashionette >€ 5bn 17%3 CAGR from ’20 - ’23 We are unlocking large, multi-billion-euro TAMs1 Sources: Statista Consumer Market Outlo
Slide 11: Our Market Is Resilient and Continues to Grow
OUR MARKET IS RESILIENT AND CONTINUES TO GROW …ARE THE KEY INDICATORS OF AN QUICK REBOUND IN 2021… …AND GROWING ONLINE PENETRATION ACCELERATED MIDTERM GROWH € bn | % CAGR ’21 - ’25 € bn Global personal luxury goods market Online penetration (%) 12% 22% 28 - 30% 7% ~100% +83% 1% 370 ~110 29% +29% 305
Slide 12: Business Model
BUSINESS MODEL aes —_ ——
Slide 13: Drive Own Brand Development
DRIVE OWN BRAND DEVELOPMENT 12% own brand share in 2021 +155% growth YoY 21% of revenue1 done via IsabelBernard.com Targets: • Drive improved margin over time • First diamond collection of Isabel Bernard in 2022 • Joint own brand of Brandfield + fashionette in 2022 13 1 Based in Brandfield’s order v
Slide 14: Strong Unit Economics Support Profitability
STRONG UNIT ECONOMICS SUPPORT PROFITABILITY OUR AOV* IS ONE OF THE HIGHEST …WHILE CAC** ARE WELL IN LINE DIVERSIFIED PORTFOLIO THAT IN THE SECTOR… RESONATES WITH OUR CUSTOMERS in € in € ~600 • 86% of returning customers bought products from ≥2 Brands 244 fashionette • ~75% of returning customers bou
Slide 15: Customer Profitability Is Reached in the First 6 Months
CUSTOMER PROFITABILITY IS REACHED IN THE FIRST 6 MONTHS CUSTOMER ACQUISITION COSTS AND CUSTOMER LIFETIME VALUE fashionette only Customer is profitable in the first 6 months 1 CAC CLV 180 Days based on full year numbers 2 CLV for every cohort grows >10% every year CAC: Significant step up in acquisit
Slide 16: Q2 / H1 2022 Highlights
Q2 / H1 2022 HIGHLIGHTS
Slide 17: H1/Q2 2022 Highlights
H1/Q2 2022 HIGHLIGHTS Net revenue growth of +5% YoY pro forma despite the development of the geopolitical situation and the volatility of the macroeconomic environment (+50% YoY consolidated) Record active customer base of more than 1 million in the last twelve months (+15.3% YoY pro forma) Further
Slide 18: My First 60 Days
MY FIRST 60 DAYS Market: Attractive market segment provides solid growth potential Operations: Confirmed robust foundation backed by strong operational fundamentals, technology and data-driven decision making Team: Committed and engaged teams which are passionate to continuously optimize customer ex
Slide 19: Continued Growth in Q2, Setting Pace for the Rest of the Year
CONTINUED GROWTH IN Q2, SETTING PACE FOR THE REST OF THE YEAR Pro forma Pro forma TOTAL NET REVENUE TOTAL NET REVENUE BY REGION (Q2) +4.9% DACH* +3% € 73.4m € 70.0m OTHERS +27% +2.4% € 37.2m BENELUX** -6% € 36.3m § Strong growth of +15.3% in the number of active customers (Q2 2022) § Benelux was imp
Slide 20: Continued Growing Number of Orders with a Slight Increase in AOV
CONTINUED GROWING NUMBER OF ORDERS WITH A SLIGHT INCREASE IN AOV Pro forma Pro forma NUMBER OF ORDERS AVERAGE ORDER VALUE +7.7% +2.1% +10.5% 667.0k € 183 € 179 619.2k 343.3k 310.7k Q2 2021 Q2 2022 H1 2021 H1 2022 H1 2021 H1 2022 § fashionette: continued strong growth in the number of § AOV slightly
Slide 21: Record Active Customer Base of More Than 1 Million (LTM)
RECORD ACTIVE CUSTOMER BASE OF MORE THAN 1 MILLION (LTM) Pro forma Pro forma NUMBER OF NEW CUSTOMERS NUMBER OF ACTIVE CUSTOMERS (LTM) +15.3% +0.4% 1,006.8k 873.1k 333.3k 334.7k +5.3% 164.8k 173.5k +3.0% +5.1% +16.2% +6.7% -2.4% +14.5% Q2 2021 Q2 2022 H1 2021 H1 2022 H1 2021 H1 2022 § Growing number
Slide 22: Marketing Efficiency Further Improved in Q2 2022
MARKETING EFFICIENCY FURTHER IMPROVED IN Q2 2022 Pro forma Pro forma MARKETING COST PER ORDER CUSTOMER ACQUISITION COSTS (CAC) -0.9% +2.5% -5.6% -4.4% € 32.6 € 32.3 € 32.8 € 33.6 € 17.3 € 17.6 € 16.9 € 16.3 Q2 2021 Q2 2022 H1 2021 H1 2022 Q2 2021 Q2 2022 H1 2021 H1 2022 § Decreased marketing cost pe
Slide 23: Financial Performance H1 2022
FINANCIAL PERFORMANCE H1 2022 Pro forma H1 Details Returns H1 2021 H1 2022 Q2 2021 Q2 2022 We see return rates levelling at pre-COVID rates, plus category mix has an effect on return e.g., shoes have higher return rate Returns and increase in share of sales 37.8% 40.8% 37.1% 41.0% (in % of total rev
Slide 24: Strong Operating Cash Flow in Q2
STRONG OPERATING CASH FLOW IN Q2 Q2 Details LIQUIDITY BRIDGE Q2 2022 9.6 Operating cash flow Strong operating cash flow in Q2 2022 of EUR 3.6m (Q1 2022: EUR -10.8m) mainly driven by optimization of working capital Financing cash flow Includes payment of EUR 0.5m for refinancing of Brandfield and EUR
Slide 25: Continued Profitable Growth in 2022
CONTINUED PROFITABLE GROWTH IN 2022 Key assumptions IFRS GROWTH (TOTAL NET REVENUE) FY 2021 FY 2022 § Outlook remains unchanged Consolidated: Consolidated: § Although an increasingly challenging external € 133.8m + 34 to 40% environment introduces a greater degree of risk and uncertainties than norm
Slide 26: Résumé
RÉSUMÉ
Slide 27: Many Opportunities to Drive Profitable Growth
MANY OPPORTUNITIES TO DRIVE PROFITABLE GROWTH 1 SELECTION EXPANSION 2 REGIONAL EXPANSION 3 CONTINUED INVESTMENTS … WITHIN EXISTING CATEGORIES … WITHIN EXISTING COUNTRIES … IN OUR IT PLATFORM Increase selection by winning missing brands and Replicate the success of fashionette’s core region Reinforce
Slide 28: Strongly Positioned to Drive Long-Term Profitable Growth
STRONGLY POSITIONED TO DRIVE LONG-TERM PROFITABLE GROWTH 1 Attractive business with strong unit economics in attractive markets (DACH and Benelux) 2 Large and expanding TAM opportunity 3 A platform with multiple growth levers to drive growth organically and inorganically 4 Multiple profitability dri
Slide 29: Appendix
APPENDIX |
Slide 30: Reaching ~1 Million Active Customers in 2021
REACHING ~1 MILLION ACTIVE CUSTOMERS IN 2021 Pro forma NEW CUSTOMERS ACTIVE CUSTOMERS +26.7% +32.4% 760.2k 975.9k 600.2k 736.8k FY 2020 FY 2021 FY 2020 FY 2021 Growing our active customer base to ~1 million customers, supported by strong new customer acquisition throughout the year Pro forma: Includ
Slide 31: Germany, Netherlands and Own Brands Drive Sales in 2021
GERMANY, NETHERLANDS AND OWN BRANDS DRIVE SALES IN 2021 Pro forma TOTAL NET REVENUE TOTAL NET REVENUE BY REGION (FY) DACH* +18% +21.0% € 154.8m € 128.0m OTHERS +25% 10% 65% 26% BENELUX** +26% KEY HIGHLIGHTS • DACH was supported by strong performance in Germany, with +17% in 2021 FY 2020 FY 2021 • Ot
Slide 32: Strengthening Our Key Categories
STRENGTHENING OUR KEY CATEGORIES BY BRINGING MORE CHOICE AND VARIETY TO OUR CUSTOMERS Jewelry +78% +22% Accessories & Other 2020 2021 2020 2021 Handbags +9% 2020 2021 Shoes +43% 2020 2021 32 Order Value YoY
Slide 33: Financial Performance FY 2021
FINANCIAL PERFORMANCE FY 2021 Full year details Strategic choices in 2021, set the basis for our continuous profitable growth in the future Pro forma FY 2020 FY 2021 YoY FY 2021 YoY Gross Margin HGB HGB IFRS Roughly flat, with growing own brand share Returns offsetting some of the product mix develo
Slide 34: Sustainable and Profitable Growth to Continue in 2022
SUSTAINABLE AND PROFITABLE GROWTH TO CONTINUE IN 2022 GROWTH Challenges (TOTAL NET REVENUE) FY 2021 FY 2022 Pro forma Outlook • Consumer sentiment challenged by macro-economic conditions € 154.8m • Inflationary environment putting additional strain on + 16 to 21% consumer’s discretionary income Impl
Slide 35: Events & New Contact
EVENTS & NEW CONTACT 15 Nov 2022 Publication Q3 2022 results 16 Nov 2022 BofA Consumer & Retail Conference (Paris) Subscribe to our IR news if you don’t want to miss the next update: ARMIN BLOHMANN Director Investor Relations M: a.blohmann@fashionette.de W: corporate.fashionette.de 35
Slide 36: KPI Definitions
KPI DEFINITIONS ACTIVE CUSTOMERS Defined as the number of customers placing at least one not cancelled order in the last twelve months on one of the Group’s websites or third-party marketplaces in the measurement period, irrespective of returns. ADJ. EBITDA Defined as earnings before interest, taxes
Slide 37: Disclaimer and Notes
DISCLAIMER AND NOTES BY VIEWING THIS PRESENTATION, YOU AGREE TO BE BOUND BY THE FOLLOWING TERMS AND CONDITIONS REGARDING THE INFORMATION DISCLOSED IN THIS PRESENTATION. THIS PRESENTATION HAS BEEN PREPARED BY FASHIONETTE AG (THE "COMPANY"). This disclaimer shall apply in all respects to the entire pr
fashionette — Berenberg and Goldman Sachs Eleventh German Corporate Conference 2022 on 6ix