Platform Group Se & Co. Kgaa · XETR:TPG0
Platform Group Se & Co. Kgaa — The Platform Group — 9M 2023 Earnings Presentation
31 slides from Platform Group Se & Co. Kgaa's earnings presentation, Nov 15, 2023
Slide 1: 9M 2023 Results Presentation
9M 2023 Results Presentation 15 November 2023 1
Slide 2: The Platform Group Key Facts
1 THE PLATFORM GROUP Key Facts 2
Slide 3: Our Management Structure
OUR MANAGEMENT STRUCTURE Supervisory Board Stefan Schütze Rolf Sigmund Dominik Barton (Chairman) Jens Wasel Florian Müller Management Board CFO fashionette AG Dr. Dominik Benner Laura Vogelsang Reinhard Hetkamp CEO Mgmt. Board CFO TPG since 2012 fashionette since 2018 >20 years experie
Slide 4: TPG Pro-Forma Consolidated Guidance
TPG PRO-FORMA CONSOLIDATED GUIDANCE 2023 FY Mid-term Adj. EBITDA Revenue Adj. EBITDA GMV Leverage GMV Margin €440m €20m €700m 1.5 – 2.3x €1bn 7-10% We are highly confident of achieving our targets Source: Company. Pro-Forma consolidated. Continuing operations in FY 2023. 4
Slide 5: 9M 2023 Highlights (Pro-Forma Consolidated)
9M 2023 HIGHLIGHTS (PRO-FORMA CONSOLIDATED) GMV growth of +22% YoY due to diversified portfolio + more partners Net revenue growth of +22% YoY EBITDA adj. of €14.5m (9m 2022: 10.6 m€), growth of +37% YoY Number of partners 5.412 (09/2022: 4.572), growth of +23% YoY Number of active customers 3.3m (2
Slide 6: With TPG Software Our Partners Get Access to Global Ecommerce
WITH TPG SOFTWARE OUR PARTNERS GET ACCESS TO GLOBAL ECOMMERCE – 18 INDUSTRIES COVERED CONSUMER GOODS FREIGHT GOODS Software-solutions for B2B + B2C small- & medium-sized customers business partners INDUSTRIAL GOODS SERVICE & RETAIL 10 local GOODS Stores 6
Slide 7: Our Partners Have Consistently Grown
OUR PARTNERS HAVE CONSISTENTLY GROWN Number of Partners Partners by Segment 09/2023 6.000 5.500 09/2023: 5.412 5.000 Service & Retail 4.872 partners Goods: 672 4.000 3.940 3.000 3.008 Consumer Goods: 2287 2.000 Freight Goods: 1.600 2039 1.000 0 Industrial 2019 2020 2021 2022 2023E Goods: 414 7
Slide 8: A Growing Customer Base Which Drives GMV
A GROWING CUSTOMER BASE WHICH DRIVES GMV Number of Customers GMV Development in m in €m 4 800 €700m 3,25m 700 2,87m 09/2023: €613m 3 600 3.3m €505m 500 2,12m 2 400 €316m 1,40m 300 €240m 1 0,80m 200 100 0 0 2019 2020 2021 2022 2023E 2019 2020 2021 2022 2023E €1BN GMV GUIDANCE MID-TERM Source: Company
Slide 9: Segment Overview
& Segment Overview of as ,
Slide 10: The Platform Group: Segment Overview
THE PLATFORM GROUP: SEGMENT OVERVIEW Consumer Goods Freight Goods Revenues by Segment (09/2023) (in m€, pro-forma, continuing operations) Products with simple Products with complex logistics and focus on transport, logistics and consumer goods delivery processes in the Shoes area of freight logistic
Slide 11: Segment Highlights
SEGMENT HIGHLIGHTS Segment Freight Goods with strongest growth of +189% YoY Acquisition of Simon-Profi-Technik GmbH (forest equipment) in the Freight Good segment (by Sept. 2023) Positive development of Consumer Good segment (revenue, EBITDA and number of partners) Positive, profitable sell-off deve
Slide 12: Platform Demonstration
PLATFORM DEMONSTRATION Source: Company 12
Slide 13: Fashionette (Consumer Goods Segment)
FASHIONETTE (CONSUMER GOODS SEGMENT) FACTS & FIGURES* • > 350 Brands • > 1 Mio. active customers • 14 European Countries • Successful launch of luxury fashion platform by 09/2023 * fashionette incl. Brandfield B.V. 13
Slide 14: Fashionette (Consumer Goods Segment): Strategic Development
FASHIONETTE (CONSUMER GOODS SEGMENT) Reason for the merger of fashionette and The Platform Group STRATEGIC DEVELOPMENT The ambition is to make fashionette a CONSIDERABLE SYNERGY POTENTIAL platform company for luxury Facilitate strategic collaboration in Sales synergies and cross-selling potential pl
Slide 15: Financials
3 Financials 15
Slide 16: At a Glance – Key Pro-Forma Numbers 01-09/2023
AT A GLANCE – KEY PRO-FORMA NUMBERS 01-09/2023 CONTINUING OPERATIONS TPG HAS STRONG GROWTH IN GMV, REVENUE AND EBITDA REVENUE GMV EMPLOYEES € 284m € 469m 9/2023 9/2023 +22% vs 09/2022 +22% vs 9/2022 671 9/2023 ADJ. EBITDA PARTNERS CUSTOMERS € 14.5m 3.3m 9/2023 9/2023 +37% vs 09/2022 5.412 9/2023 +18
Slide 17: Strong GMV and Revenue Growth
STRONG GMV AND REVENUE GROWTH CONTINUING OPERATIONS GMV Growth 9M Revenue Growth 9M € 469.30 m +21.6% € 284.48 m +22% € 385.69 m YoY YoY € 232.83 m 09/2022 09/2023 09/2022 09/2023 All Pro-Forma figures are based on continued operations. Fashionette AG announced in Q1 2023 and Q2 2023 the closure of
Slide 18: Revenue Growth 2020-2023E
REVENUE GROWTH 2020-2023E CONTINUING OPERATIONS Revenue Growth Revenue €m 600 500 €440m 400 €333m 300 2023 H2 €241m 200 €146m €164m 100 2023 H1 0 2020 2021 2022 2023E Target 2023E Revenue > €440 million All Pro-Forma figures are based on continued operations. Fashionette AG announced in Q1 2023 and
Slide 19: Profitability as a Key for Sustainable Growth
PROFITABILITY AS A KEY FOR SUSTAINABLE GROWTH CONTINUING OPERATIONS EBITDA adj. 9M EBITDA adj. margin 9M € 14.49m 5.1% +36.6% +0.5pp YoY 4.6% YoY € 10.61m 09/2022 09/2023 09/2022 09/2023 All Pro-Forma figures are based on continued operations. Fashionette AG announced in Q1 2023 and Q2 2023 the clos
Slide 20: Leading Profitability
LEADING PROFITABILITY CONTINUING OPERATIONS Adj. EBITDA Growth EBITDA €m 22 20 18 16 2023 H2 14 12 €10m 10 8 €9m €7m 6 2023 H1 4 2 0 2021 2022 2023E ADJ. EBITDA 2023 GUIDANCE €20M All Pro-Forma figures are based on continued operations. Fashionette AG announced in Q1 2023 and Q2 2023 the closure of
Slide 21: 9M Financial Performance Pro-Forma Consolidation
9M FINANCIAL PERFORMANCE PRO-FORMA CONSOLIDATION CONTINUING OPERATIONS 9M 2022 9M 2023 9M ESSENTIALS GMV € 385.7m € 469.3m GMV/Revenue growth driven by more partners and more products + higher AOV Net revenue (EUR m) € 232.8m € 284.5m Gross Margin 30.9% 31.8% Positive gross margin development as a r
Slide 22: Debt Situation
DEBT SITUATION 30.09.2023 31.12.2023E Net Debt / EBITDA 4,0x Cash + Cash equivalents € 18.3m € 7.1m 3,5 2,9 Long term Debt € 31.2m € 28.7m 3,0x 2,6 Short term Debt € 48.4m € 30.2m 2,0x Net Debt € 62.3m € 51.8m 1,0x ViveLaCar Net Debt* € 28.3m € 23.4m 0,0x Net Debt excluding ViveLaCar € 34.0m € 28.4m
Slide 23: Outlook
4 Outlook 23
Slide 24: TPG Pro-Forma Consolidated Guidance
TPG PRO-FORMA CONSOLIDATED GUIDANCE CONTINUING OPERATIONS 2023 FY Mid-term Adj. EBITDA Revenue Adj. EBITDA GMV Leverage GMV Margin €440m €20m €700m 1.5 – 2.3x €1bn 7-10% All Pro-Forma figures are based on continued operations. Fashionette AG announced in Q1 2023 and Q2 2023 the closure of the busine
Slide 25: Guidance
GUIDANCE Dr. Dominik Benner Laura Vogelsang “We are highly confident of achieving our targets. We confirm our guidance for FY 2023.” 25
Slide 26: Our Future Strategy
OUR FUTURE STRATEGY POWER OF SCALE CONTINUED M&A GEOGRAPHICAL LEADING POSITION NEW MARKETS EXPANSION EXPANSION Becoming the No.1 Expanding into 30 3-8 Acquisitions per Increasing Platform in Europe industries by 2025 year geographical footprint outside of Organic growth Long-term goal of Germany hig
Slide 27: Key Takeaways
KEY TAKEAWAYS We expect a revenue of >€440m and adj. EBITDA >€20m for FY 2023 Positive operating cash flow & stable liquidity in FY 2023 Strategic platform projects with solid growth in partners Strong cost-efficiency program continues in 2024, adjusting costs and risk, especially in marketing, pers
Slide 28: Financial Calendar and Contact
FINANCIAL CALENDAR AND CONTACT Financial Calendar NOV 17, 2023 Conference Call Q3 2023 Earnings NOV 28, 2023 Analyst Conference German Equity Forum APR 28, 2024 Preliminary Figures for the year 2023 MAY 19, 2024 Publication Annual Report 2023 MAY 24, 2024 Publication Quarterly Statement (Q1 2024) Em
Slide 29: Thank You!
THE PLATFORM GROUP. THANK YOU!
Slide 30: KPI Definitions
KPI DEFINITIONS ACTIVE CUSTOMERS, ADJ. EBITDA AVERAGE ORDER VALUE CUSTOMER ACQUISITION COST EBITDA FREE CASH FLOW / CASH CONVERSION MARKETING COST RATIO NET REVENUE NEW CUSTOMERS, NUMBER OF ORDERS ORDER VALUE RETURN RATE (in % OF ORDER VALUE) Defined as the number of customers placing at least one n
Slide 31: Disclaimer and Notes
DISCLAIMER AND NOTES VIEWING THIS PRESENTATION, YOU AGREE TO BE BOUND BY THE FOLLOWING TERMS AND CONDITIONS REGARDING THE INFORMATION DISCLOSED IN THIS PRESENTATION. THIS PRESENTATION HAS BEEN PREPARED BY The Platform Group AG (THE "COMPANY’) ‘This lsclaimer shall apply in all respects to the entie