Yakkyo S.p.a. · MIL:YKY
Yakkyo — Investor Presentation (April 2026)
19 slides from Yakkyo's investor presentation, April 2026
Slide 1: April 2026
April 2026 | www.value-track.com |
Slide 2: Yakkyo at a Glance
YAKKYO AT A GLANCE Profile Yakkyo S.p.A. is a fast-scaling B2B MarTech enabler. Since its 2016 foundation, the company has built a highly specialized proposition focused on supporting online retailers in their e-commerce activities and merchants in their wholesale sourcing. Leveraging an asset-light
Slide 3: Yakkyo Value Proposition
YAKKYO VALUE PROPOSITION Revenue Model Client Driven Approach Yakkyo acts as a strategic partner to dropshippers and • Offers a State-Of-Art AI powered technological stack merchants operating as a principal in B2B e-commerce sales, • API-driven, scalable tech infrastructure (Yakkyofy sourcing produc
Slide 4: Financial Features
FINANCIAL FEATURES Dropshipping (85.5% of revenue) + Wholesale (14.5% of revenue) + Subscription evolution • Pure asset-light operations • Made-to-order model • Today: $33k ARR • 18% net margin (all costs • 22% net margin (all costs • Filters committed clients only included) included) • Waived for h
Slide 5: Exclusive China Bridge
EXCLUSIVE CHINA BRIDGE World's First Direct Access to 1688 ~500 Beta launch scheduled for 1H26 100M+ Winning products Products analyzed selected daily with via 1688 API daily predictive sales Game-changing platform algorithms Real-time inventory synchronization Breakthrough market access First Europ
Slide 6: Proven Commercial Traction
PROVEN COMMERCIAL TRACTION Customer base 2025 • 173 active clients (placed at least 1 order) • 123 Dropshipping - 50 Wholesale • 60 Subscription accounts (17 pure sub) • 3815 Shopify stores connected Growth drivers 2025 • 67% from existing clients • 33% new customers Others 16,0% Orders 2025 Austral
Slide 7: Reference Market Booming
REFERENCE MARKET BOOMING 600 The dropshipping market Dropshipping Market Shopify Yakkyo 550 is witnessing explosive growth (~26% CAGR22-30E), 500 expanding from $196.8bn in 2022 to $1,269bn 450 by2030E Shopify, the backbone of 400 the global dropshipping ecosystem powering 350 millions of mercha
Slide 8: Only Few Valuable Competitors
ONLY FEW VALUABLE COMPETITORS Platform Description Avg. Rating* Platform Description Avg. Rating* Paid plans from $79–299/month. Paid plans from $35/month. Product sourcing + inventory and 4.5 Curated suppliers, fast shipping, 2.2 order management automated imports Membership plans from SaaS plans f
Slide 9: Profit & Loss
PROFIT & LOSS Profit & Loss (€mn) 2022 2023 2024 2025 2026E 2027E 2028E Comment Dropshipping 1.5 2.2 10.3 16.0 20.0 24.0 28.0 Change (%) 50.0% 46.7% 368.2% 55.3% 25.0% 20.0% 16.7% As a % of Total 23.0% 33.0% 76.9% 82.0% 80.0% 80.0% 80.0% Wholesale 4.5 3.8 1.9 3.4 3.4 4.4 5.6 • Dropshipping the main
Slide 10: Balance Sheet & Cash Flow Statement
BALANCE SHEET & CASH FLOW STATEMENT Balance Sheet (€mn) 2022 2023 2024 2025 2026E 2027E 2028E Comment Working Capital 0.5 1.1 2.0 1.8 2.4 3.0 3.5 As a % of Sales 8.2% 16.5% 14.6% 9.0% 10.0% 10.3% 10.1% Net Fixed Assets 1.6 1.3 1.3 2.2 2.3 2.3 2.3 Provisions 0.0 0.0 0.1 0.1 0.1 0.2 0.2 • NWC Dynamics
Slide 11: Multiples Sensitivity Analysis
MULTIPLES SENSITIVITY ANALYSIS YAKKYO - PEERS MULTIPLES EV / Sales (x) EV / EBITDA (x) EV / EBIT (x) P/E (x) Peers FY1 FY2 FY3 FY1 FY2 FY3 FY1 FY2 FY3 FY1 FY2 FY3 Baozun, Inc. Sponsored ADR 0.6 0.5 0.5 23.4 13.2 10.0 >40 31.9 19.9 >50 27.0 16.0 Platform Group AG 0.4 0.3 0.2 4.4 3.3 2.4 4.7 3.8 2.8 3
Slide 12: Rolling Valuation at 3.0-5.0-7.0x EV/EBITDA
ROLLING VALUATION AT 3.0-5.0-7.0x EV/EBITDA YKY EQUITY VALUE EVOLUTION BETWEEN 2025 AND 2028, APPLYING AN EXIT EV/EBIT MULTIPLE OF 3.0X, 5.0X AND 7.0X 6,0 5,2 5,0 4,3 Yakkyo shares are currently trading at 3,9 4,0 Euro 1.0 market price, 3,4 i.e. €5.5mn mkt cap, 3,2 implying 2.4x-1.7x-1.0x 3,0 EV/E
Slide 13: Yakkyo: Recap of the Investment Case
YAKKYO: RECAP OF THE INVESTMENT CASE Yakkyo boasts a state-of-art client driven technological stack combined with Solid Business Profile end-to-end sourcing and logistic capabilities, complemented by local presence in China B2B e-commerce market is booming Booming Market (~26% CAGR22-30E) Medium-Hig
Slide 14: Appendix
APPENDIX
Slide 15: Governance / Shareholders' Structure
GOVERNANCE / SHAREHOLDERS’ STRUCTURE Board of Directors - Strategic Oversight Giovanni Conforti Virgilio Picca Giulio Limongelli Angelo Coletta Gabriele Menotti Lippolis Independent Board President Board Member CFO Board Member Board Member Member Main Shareholders Free Float; 35,5% Camilla S.r.l.;
Slide 16: Stock Market Liquidity
STOCK MARKET LIQUIDITY | www.value-track.com | 16
Slide 17: Liquidity Analysis
LIQUIDITY ANALYSIS | www.value-track.com | 17
Slide 18: Disclaimer
DISCLAIMER THIS DOCUMENT WAS DRAFTED BY VALUETRACK SIM THIS DOCUMENT IS BEING FURNISHED TO YOU SOLELY FOR YOUR INFORMATION ON A CONFIDENTIAL BASIS AND MAY NOT BE REPRODUCED, REDISTRIBUTED OR PASSED ON, IN WHOLE OR IN PART, TO ANY OTHER PERSON. IN PARTICULAR, NEITHER THIS DOCUMENT NOR ANY COPY THEREO
Slide 19: Value Track SIM S.p.A.
Value Track SIM S.p.A. www.value-track.com +39 02 80886654 +39 3357896483 19