Touch Ventures Ltd. · ASX:TVL
Touch Ventures — FY2023 Earnings Presentation
15 slides from Touch Ventures's earnings presentation, Feb 14, 2024
Slide 1: Annual Results Presentation
For personal use only ANNUAL RESULTS PRESENTATION For the financial year ended 31 December 2023
Slide 2: Disclaimer
DISCLAIMER The material in this presentation has been prepared by Touch Ventures Limited (“Touch Ventures”) ABN 96 612 559 958 and is general background information about Touch Ventures’ activities current at the date of this presentation. The information is given in summary form and does not purpor
Slide 3: Table of Contents
For personal use only 1. FY23 REVIEW TABLE OF 2. PORTFOLIO UPDATE CONTENTS 3. FINANCIAL RESULTS 4. FY24 OUTLOOK 3
Slide 4: FY23 Review: Market Conditions
FY23 REVIEW: MARKET CONDITIONS We have experienced significant changes in the market environment since launching our investment strategy and have had to adjust our approach to recognise these changes Listed SaaS business valuations have reduced and are below pre-COVID median multiples For personal
Slide 5: FY23 Review: Touch Ventures
FY23 REVIEW: TOUCH VENTURES 2023 was a year of consolidation as we prepare to invest into the next vintage of assets Preserved cash as private company valuations adjusted to changing economic conditions Looked at a large number of opportunities and completed one investment in 2023 For personal u
Slide 6: FY23 Summary Results
FY23 SUMMARY RESULTS $108.9m of net asset value including cash of $58.2m1 Summary Net loss of $15.4m for FY23 (FY22 net loss of $65.2m) For personal use only Gain of $4.5m from the sale of Basiq with $4.1m profit realised to-date Key Metrics (as at 31 December 2022) and a further $0.8m2 subject
Slide 7: Portfolio Update
PORTFOLIO UPDATE Having slowed deployment of capital, we are ready to invest into the adjusted market Portfolio as at 31 December 2023 (NAV: $108.9m) Net asset position of $108.9m (15c per share) (31 Dec 22: Sendle $15.9m For personal use only $124.5m) 15% Cash of $58.2m (8c per share), making u
Slide 8: Portfolio Update: Ordermentum
PORTFOLIO UPDATE: ORDERMENTUM Ordermentum is a unified platform allowing suppliers of produce, beverages and other hospitality products to trade with hospitality venues Invested $3m in Ordermentum in October 2023 as part of a broader $16m fund raise that the Investment Date Oct 2023 company comple
Slide 9: Core Portfolio Highlights
CORE PORTFOLIO HIGHLIGHTS Investment Date June 2021 Investment Date July 2021 Investment Date Nov 2021 Investment Date Sep 2021 For personal use only Amount Invested $4.5m Amount Invested $2.4m Amount Invested US$27.8m / Amount Invested US$10.0m $36.5m / $13.6m Carrying Value $5.9m (31 December Carr
Slide 10: Statement of Financial Position
STATEMENT OF FINANCIAL POSITION Strong cash position with $58.2m of cash on hand 31 December 31 December 1. Strong cash position with $58.2m of cash on hand $000 Note at 31 December 2023 2023 2022 For personal use only Cash and cash equivalents 1 5,374 38,721 a. Total cash includes term deposits of
Slide 11: Statement of Comprehensive Income
STATEMENT OF COMPREHENSIVE INCOME Loss of $15.4m due to impairments (FY22 loss: $65.2m) as difficult decisions were made on existing portfolio. We reduced operating costs and receive the benefit of interest income $000 Notes FY23 FY22 Notes Net loss on financial assets at fair value 1 (8,449) (66,45
Slide 12: Market & Outlook
MARKET & OUTLOOK As the market stabilises, we are focused on building out the next vintage under the revised strategy Our share price is trading at a large discount to the value of our portfolio and in line with our cash NTA For personal use only Loss making technology companies have become high
Slide 13: Further Information
FURTHER INFORMATION For personal use only W: www.touchventures.com E: investors@touchventures.com THANK YOU 13
Slide 14: Appendix
For personal use only APPENDIX
Slide 15: Portfolio Summary
PORTFOLIO SUMMARY Touch Ventures made one new investment in 2023, with a core portfolio well supported Initial Investment FY23 Fair FY22 Fair Company Business Description Investment Amount1 Value2 Value For personal use only Sendle is an Australian & U.S. based virtual parcel courier platform US$27.