Banqup Group · EURONEXT:BANQ
Banqup — Unifiedpost Group — H1 2022 Earnings Presentation
15 slides from Banqup's earnings presentation, Sep 16, 2022
Slide 1: Results H1 2022
Results H1 2022 Investor presentation – September 16th, 2022
Slide 2: Agenda
Agenda 1 • Results H1 2022 by CFO Laurent Marcelis 2 • Business Conclusions by CEO Hans Leybaert 3 Slides & replay: https://www.unifiedpost.com/en/investor-relations
Slide 3: Results H1 2022
Results H1 2022 By Laurent Marcelis, CFO
Slide 4: Clear focus on network expansion and sustainable customer growth
Clear focus on network expansion and sustainable customer growth REACH One integrated Customers & network global network 32 countries to transact & interact • Paying customers 431k • Paid by 3rd party 480k • Network 834k 1,400+ FTEs 457 FTEs in R&D > 1,745k entities = accessible network CONNECTED TR
Slide 5: H1 2022 marked by further R&D investments now shifting to operational efficiency
H1 2022 marked by further R&D investments now shifting to operational efficiency €91.7m € 59.3m 96.3% H1 2022 revenue digital processing revenue recurring revenue +13.6% y-o-y €23.0/month 40.0% €18m R&D ARPU H1 2022 digital processing 30.0% of digital gross margin processing revenue - €14.4m -€6.5m
Slide 6: Revenues – Strong organic growth of recurring digital revenue +21.7%
Revenues – Strong organic growth of recurring digital revenue +21.7% Group revenue (H1 2022) Group revenue (by quarter) in EUR m in EUR m 13.6% 91.7 Seasonality 80.7 32.4 20.3 16.5 15.9 30.3 13.1 59.3 30.8 29.6 29.7 50.4 25.7 H1 2021 H1 2022 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Postage & parcel optimisat
Slide 7: Well over 90% of Unifiedpost Group's revenue remain recurring
Well over 90% of Unifiedpost Group’s revenue remain recurring in EUR m Subscriptions 1 91.7 91.7 Subscriptions Banqup available from € 10/month for basic optimisation services Postage & parcel document exchange, higher prices Trans- PPO(1) for more volume and/or more 32.4 actions Recurring 32.4 se
Slide 8: Gross profit & margins – impact from launching cost of new services and inflation
Gross profit & margins – impact from launching cost of new services and inflation Total gross profit & margin (by year) Digital processing gross profit & margin (by quarter) in EUR m 40.0% in EUR m 42.8% 3.3 42.4% 3.3 47.0% 40.7% 44.8% 39.3% 9% 40.6% 43.8% 42.4% 21.5 23.7 13.0 12.0 12.0 11.7 11.6 9.
Slide 9: Cost development & EBITDA – expansion into 32 countries and platform and roll-out investments
Cost development & EBITDA – expansion into 32 countries and platform and roll -out investments Cost development R&D spending is equivalent to 30 % of digital processing revenue – (57.2% capex) in EUR m 22.2 18.6 14.6 G&A expenses increased 22% y-o-y mainly due to 10.3 11.3 acquisitions 8.7 7.5 6
Slide 10: Equity & cash flow development – sufficient liquidity to bridge road to cash flow break-even
Equity & cash flow development – sufficient liquidity to bridge road to cash flow break -even Equity per 30 Cash per 30 Equity development June 2022 Cash development June 2022 in EUR m 179.0 M in EUR m 42.7 M 12.8 196.4 (3.8) 179.0 (21.2) (2.0) (3.3) 51.6 42.7 17.0 (14.4) 1 2 3 4 5 6 7 (11.5) 1 Equi
Slide 11: Key messages
Key messages Group revenue grew by 13.6% y/ y to €91.7 million in H1 2022, with recurring digital processing revenue up 21.7% y/y Strong growth of customer base by 14.9% in H1 2022 compared to end 2021 On the back of platform and roll -out investments, the Group EBITDA amounts to -€6.5 million
Slide 12: Business Conclusions
Business Conclusions By Hans Leybaert, CEO 14
Slide 13: Q&A
Q&A 15
Slide 14: Contact data
Contact data Communicate with us Hans Leybaert Join us CEO • 10 November 2022: Publication Q3 2022 Business Update hans.leybaert@unifiedpost.com • 30 November 2022: Investor Day Laurent Marcelis CFO Follow us laurent.marcelis@unifiedpost.com https://unifiedpost.com/en/investor -relations Sarah Heuni
Slide 15: Thank you for your attention!
Thank you for your attention! 17