Bailador Technology Investments Ltd · ASX:BTI
Bailador Technology Investments — H1 FY2025 Earnings Presentation
23 slides from Bailador Technology Investments's earnings presentation, Feb 20, 2025
Slide 1: Interim Results presentation
For personal use only Interim Results presentation Six months ended 31 December 2024 (HY25) Bailador Technology Investments Limited (ASX:BTI)
Slide 2: Contents
Contents For personal use only HY25 PORTFOLIO PERFORMANCE PAGE 3 – 16 HY25 SUMMARY FINANCIALS PAGE 17 – 18 APPENDIX PAGE 19 – 22 This presentation was authorised for release to the ASX by Helen Foley, Company Secretary & Chief Financial Officer, on 20 February 2025. 2
Slide 3: Executive Summary
Executive Summary ✓ Net profit attributable to shareholders totalling $17.5m (HY24 $22.0m) ✓ FY25 Interim dividend totalling 3.7 cents per share (fully franked) declared1, part of ongoing dividend commitment For personal use only PORTFOLIO PERFORMANCE • Represents an annualised yield of 6.0% (8.0% o
Slide 4: The Bailador portfolio ended CY2024 in a strong position
The Bailador portfolio ended CY2024 in a strong position 10 investments New CY2024 investments For personal use only PORTFOLIO PERFORMANCE $498m 42% portfolio company portfolio company revenue1 revenue growth2 ~67% ~90% gross margin2 recurring revenue2 Note: 1Based on unaudited revenue over the 12 m
Slide 5: NTA per share growth over HY25 driven by private portfolio uplift and SiteMinder gains
NTA per share growth over HY25 driven by strong uplift to private portfolio and crystalised gains in SiteMinder • Post-tax NTA per share up 5.0% over HY25, net of all costs • Post-tax NTA per share up 7.2% after adding back 3.4 cents per share dividend (fully franked) paid in September 2024 For pers
Slide 6: Interim dividend declared, equivalent to 8.0% grossed-up yield
Interim dividend declared1, equivalent to 8.0% yield when grossed-up for franking credits • Interim dividend of 3.7 cents per share fully-franked declared to be paid in March 2025 • DRP2 active at 2.5% discount to DRP price3 For personal use only PORTFOLIO PERFORMANCE • Bailador has committed to pay
Slide 7: Bailador deployed $64m in CY24
Bailador deployed $64m1 in CY24 Over 50% of NTA is held in fast-growing private technology companies For personal use only PORTFOLIO PERFORMANCE • $20m investment in Updoc in May-24 increased Over 50% of NTA held in fast-growing by 50% in Dec-24 with a further valuation review private companies sche
Slide 8: Bailador has also invested $12.5m into PropHero
Bailador has also invested $12.5m into PropHero (February 2025) ⇢ PropHero is an AI-enabled property investment platform that helps individuals source, purchase, and manage investment properties For personal use only Business Overview Investment Thesis PORTFOLIO PERFORMANCE • Launched in 2021, PropH
Slide 9: Strong performance and prospects across the Bailador portfolio
Strong performance and prospects across the Bailador portfolio Portfolio Sector Investment Sector Sector thematics Operational milestones weighting1 growth • Delivered strong FY24 performance with ARR up 21% YoY to ✓ Large addressable market ~1m hotels For personal use only $209.0m and underlying EB
Slide 10: Strong performance and prospects across the Bailador portfolio (cont.)
Strong performance and prospects across the Bailador portfolio (cont.) Portfolio Sector Investment Sector Sector thematics Operational milestones weighting1 growth ✓ International travel operating above pre- For personal use only pandemic levels • Delivered landmark transaction merging Rezdy with Ch
Slide 11: Strong performance and prospects across the Bailador portfolio (cont.)
Strong performance and prospects across the Bailador portfolio (cont.) Portfolio Sector Investment Sector Sector thematics Operational milestones weighting1 growth ✓ Large addressable market with over For personal use only 200,000 gyms, health clubs and boutique • Hapana provides a suite of software
Slide 12: Our business model is designed to generate premium returns
Our business model is designed to generate premium returns For personal use only PORTFOLIO PERFORMANCE INVESTING GROWING REALISING Diligence hundreds of Partner with Prepare businesses opportunities to management to scale for sale or IPO select the best globally 12
Slide 13: Track record of full and partial cash realisations
Bailador has a track record of 13 full and partial cash realisations • These have delivered a combined 3.3x multiple on invested capital at an IRR of 23.1% • All 13 realisations have been above carrying value For personal use only PORTFOLIO PERFORMANCE • Bailador sold $20m of its position in SiteMin
Slide 14: Bailador holds its private investments at conservative valuations
Bailador holds its private investments at conservative valuations Uplift over cost via internal reviews vs 3rd party For personal use only PORTFOLIO PERFORMANCE $500m transactions 13 cash realisations (full and partial) $450m → All 13 realisations above carrying value $400m → These delivered a combi
Slide 15: Bailador has outperformed over the long term
Bailador has outperformed over the long term • A $100k investment in BTI in July 2020 is worth $214k including $44k in cash dividends and franking credits For personal use only BTI PORTFOLIO PERFORMANCE Indexed 30-Jun-20 = $100k Cumulative Return 280,000 114% cumulative return since 260,000 1 July 2
Slide 16: Investors can access the BTI portfolio at an attractive price
Investors are currently able to access the BTI portfolio at an attractive price NTA/share at 31-December-24 For personal use only PORTFOLIO PERFORMANCE $1.85 (pre-tax) / $1.67 (post-tax) $2.00 $1.80 •Track record of outperforming carrying $1.60 value for private investments $1.40 Private Investments
Slide 17: Summary Profit and Loss
Summary Profit and Loss For the half year ended 31 December 2024 HY24 SUMMARY FINANCIALS For personal use only HY25 HY24 $000 $000 SiteMinder (+$17.7m), Updoc (+$10.0m), Change in value of portfolio assets 32,819 39,113 Mosh (+2.5m), Rosterfy (+$1.7m) and Straker (+$0.8m) Interest income 1,004 2,257
Slide 18: Summary Financial Position
Summary Financial Position $20m cash realisation of SiteMinder less 31 December 2024 30 June 2024 Movement $22m investments (DASH $10m, Hapana HY24 SUMMARY FINANCIALS $000 $000 $000 $7.7m, Rosterfy $3m and Access For personal use only Telehealth $1.1m), FY24 performance fee Cash 45,702 61,957 (16,25
Slide 19: Bailador's commitment to ESG principles
Bailador’s commitment to ESG principles • Bailador is establishing, integrating and implementing a long-term sustainability framework and goals • Bailador is measuring, managing and mitigating carbon emissions we are directly responsible for For personal use only APPENDIX Scope 1 Emissions Scope 2 E
Slide 20: Bailador integrates ESG principles across the investment cycle
Bailador integrates ESG principles across the investment cycle Screening and ✓ Bailador undertakes a high-level assessment of carbon intensity of potential investments For personal use only qualification ✓ Bailador considers high carbon intensity companies (e.g. data centres and bitcoin mining) to h
Slide 21: Access to high-growth expansion-stage technology companies
For personal use only Bailador provides investors with access to APPENDIX high-growth expansion-stage technology companies at attractive valuations. Investors get access through an ASX traded share [ASX:BTI] with liquidity available at any time 21
Slide 22: Disclaimer
Disclaimer For personal use only This presentation is confidential and may not be reproduced in whole or in part, or distributed except by Bailador Technology Investments Ltd (“Bailador”) or by authorised representatives of Bailador (“Affiliates”). This presentation does not contain a complete descr
Slide 23: Further Information
For personal use only FURTHER INFORMATION Website: www.bailador.com.au Investor Enquiries: investorservices@bailador.com.au Telephone: +61 2 9223 2344 Bailador Technology Investments Limited (ASX:BTI)
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