Way 2 Vat Ltd · ASX:W2V
Way 2 Vat — Shareholder Meeting (June 2023)
23 slides from Way 2 Vat's shareholder meeting presentation, Jun 19, 2023
Slide 1: 2023 AGM – Chairman's Address and CEO Presentation
ASX release 19 June 2023 2023 AGM – Chairman’s Address and CEO Presentation Global leader in automated VAT/GST claim and return solutions, Way2VAT (ASX:W2V), today will be holding its 2023 Annual General Meeting at 3:00pm (AEST) as a virtual meeting. A copy of the Chairman’s address to the 2023 Annu
Slide 2: Chairman's Address
CHAIRMAN’S ADDRESS Way2VAT Ltd ANNUAL GENERAL MEETING 2023 19 June 2023 On behalf of the Chairman Mr Adoram Ga’ash, I will now provide the Chairman Address. 2022 was a consolidating year for Way2VAT. A year in which we have set ourselves up for a transformational 2023. While Amos will cover the oper
Slide 3: Chairman's Address (continued)
We will build on the momentum of the last year to continue to grow, including examining acquisition possibilities, should it make financial sense to do so. We expect consolidation of the VAT sector, particularly in Europe, and our superior technology allows us to take advantage of this. The achievem
Slide 4: Global VAT Refunds – Annual General Meeting
For personal use only Global VAT Refunds Amos Simantov, CEO Annual General Meeting 19 June 2023
Slide 5: Purpose, Vision and Leadership Team
Purpose Leadership Team Simplify and fully For personal use only Amos Simantov automate VAT reclaim for Founder & CEO business Smadar Noy Chief Financial Officer Vision Alex Alegert CEO DevoluIVA Challenge the status quo of the global VAT/GST Amir Peretz industry from VP Product Payment to Recovery
Slide 6: World's only fintech automating global VAT/GST reclaims through AI
W2V is the world’s only fintech company that automates global VAT/GST reclaims through AI-powered image processing For personal use only ✓ Data science excellence: State-of-the-art data methodologies unlock insights from vast amounts of financial data. ✓ VAT optimization module: Intelligent algorith
Slide 7: Only VAT/GST reclaim platform operating across countries in 20 languages
Only VAT/GST reclaim processing platform operating across 40 countries in 20 languages For personal use only 4
Slide 8: Enterprise customers and growing
310 enterprise customers and growing For personal use only 5
Slide 9: Business model
Business model The process For personal use only Client completes transaction leading to Tax authorities W2V receives commission and “Gross transaction volume” process claims recorded as “Cash receipt” Claims submitted to tax Refund received by W2V authorities and recognised and passed to client as
Slide 10: FY22 Financial snapshot
FY22 Financial snapshot For personal use only Annual transaction volume (A$m) 21.33 13.57 7.24 FY 2020 FY 2021 FY 2022 Revenue (A$m) $1.9M 77% 57% $2.5M 1.76 1.88 Net Revenue in 2022 1.50 Gross Profit Margin Increase in Transaction Trade Receivables +7% on pcp Volume to $21.33M (as at 31/12/22) +11%
Slide 11: FY23 transformation
FY23 • Harnessing capital raise For personal use only transformation • Strong backing from Thorney Investment Group • Growth strategy • Inorganic growth 8
Slide 12: Capital raise expedites pathway to profitability
Capital raise expedites pathway to profitability For personal use only $3.544 million capital raise ✓ Funds raised will accelerate sales execution and revenue growth for product suite on VAT reclaim ✓ Funds SmartSpend Debit Mastercard initiatives ✓ Supports investment to further develop and maintain
Slide 13: New substantial shareholder, Thorney Investments
New substantial shareholder, Thorney Investments For personal use only “We have supported Way2Vat since pre-IPO funding and remain with a strong belief that the company has superior AI-powered VAT-reclaim technology. We expect Way2Vat to continue to win market share in what is an enormous addressabl
Slide 14: Four strategies will power growth
Four strategies will power growth For personal use only 1. Grow VAT sales through European enterprise hubs: UK and Spain 2. Spain growth harnessing DevoluIVA partners 3. Integrating product suite and Smart Spend Debit Mastercard 4. Opportunities exist for future acquisition in Europe 11
Slide 15: Grow VAT sales through European enterprise hubs
1. Grow VAT sales through European enterprise hubs: New client wins UK, Spain and Israel For personal use only ✓ Enterprise clients have grown to 310 (now including DevoluIVA) ✓ New enterprise clients in Spain ➢ Global top-15 pharmaceutical company, with potential to be a top 5 client in Spain ✓ One
Slide 16: Spain growth harnessing DevoluIVA partners
2. Spain growth harnessing DevoluIVA partners For personal use only ✓ Acquisition completed Sept 2022 ✓ DevoluIVA offers a wide-range of expense management solutions including digitisation, corporate expenses and automatic recovery of domestic VAT in Spain ✓ All operational functions being moved to
Slide 17: Integrating product suite and Smart Spend Debit Mastercard
3. Integrating product suite and Smart Spend Debit Mastercard For personal use only Saas Revenue Model Subscriptions fee via user & admin license fee Interchange fees subscription travel expenses Percentage of successful accounts payable local & foreign VAT Reclaim Payment VAT Compliance VAT Refund
Slide 18: Opportunities exist for future acquisition in Europe
4. Opportunities exist for future acquisition in Europe For personal use only ✓ Many competitors have outdated technology and manual processes and are struggling to rebound from the challenging COVID period. ✓ Way2VAT believes consolidation of the sector, particularly in Europe, is inevitable. Way2V
Slide 19: 2H FY23 Outlook
2H FY23 Outlook For personal use only ✓ 2H FY23 set for strong growth ➢ Seasonally, Way2VAT performs better in the second half due to various tax deadlines and financial year-ends in most EU jurisdictions ➢ Irrespective of seasonality, transaction volume is trending upwards off an increasing client
Slide 20: Appendix: Revisiting Way2Vat's AI technology and superior market offering
Appendix: Revisiting Way2Vat’s AI technology and superior market offering For personal use only 17
Slide 21: For personal use only
For personal use only DATA EXTRACTION INVOICE IMAGE CLASIFICATION VAT CLAIMABILITY DETECTION Y CLAIMABLE INVOICE DATA CLAIMABLE INVOICE $ LOST POTENTIAL 1 H 1 1 1 1 1 1 1 1 1 1 H 1 v v CLEANUP VALIDATION DECISION TREE LEARNING DUPLICATES CLAIMABLE EXPENSE TYPE root spit MISSING INFO \ UNREADABLE INV
Slide 22: One click to claim: image-to-line data matching
For personal_use only VWe/ ONE CLICK TOCLAIM EXAMPLE GIVEN: IMAGE-TO-LINE DATA MATCHING Use case of data-matching that previously required human time and precision was replaced by a much faster Al technology and with the highest level of accuracy. As a service provider for high-verity clients, Way2V
Slide 23: Thank you
For personal use only THANK YOU 20