Nakiki Se · XETR:WDL1
Nakiki — windeln.de — Investor Presentation (July 2022)
33 slides from Nakiki's investor presentation, July 2022
Slide 1: Company Presentation windeln.de SE
Company Presentation windeln.de SE
Slide 2: Disclaimer
Agenda Disclaimer This document and its related communication (“Presentation”) have been issued by windeln.de SE and its subsidiaries ( “Company”) and do not constitute or form part of and should not be construed as any offer or invitation to sell or issue, or any solicitation of any offer to purcha
Slide 3: Agenda
Agenda 1. Company Overview 4 2. China 10 3. Strategy 14 4. Financials 18 5. Appendix 24 3
Slide 4: Company Overview
Company Overview 4
Slide 5: Key Investment Highlights
Company Overview Key Investment Highlights windeln.de remains an interesting investment case. Attractive and growing market segment: 1 E-commerce for baby and family products Strong partnership with European 2 suppliers & Chinese cross-border e-commerce companies Excellent infrastructure to China wi
Slide 6: Facts 2021
Company Overview Facts 2021 windeln.de is one of the leading online retailers for baby, children and family products in the German speaking region and a strong cross-border e-commerce to China. Presence in 144k+ DACH & China Active Customers in 2021 226k+ Orders in 2021 6 Sales channels to China 20
Slide 7: Management Board and Supervisory Board
Company Overview Management Board and Supervisory Board Strong Management Board and Supervisory Board with extensive experience in e-commerce. Management Board Bastian Salewsky, CEO Xiaowei (Sean) Wei Marketing, Category Management, HR, Pricing, China Business Privat Label, Product Data, Legal, IT,
Slide 8: Development History and Business Milestones
Company Overview Development History and Business Milestones windeln.de launched its first web shop in Germany in October 2010 and has gradually developed a strong focus towards the Chinese market, where it generated nearly 80% of revenues in Q1 2022. Oct: • Opened Tmall Global • Launched WeChat Lau
Slide 9: Transformation Process
Company Overview Transformation Process windeln.de went through an intensive transformation process over the past years and several efficiency and profitability measures were executed. • Re-Negotiation of Commercial Terms (cost saving) • Selection Curation (cost saving) 2019 • Reduction of Negative
Slide 10: China
China 10
Slide 11: Market in China
China Market in China The Chinese market is highly attractive. E-Commerce segment Crosss-border E-Commerce Three-child policy baby &toddler in China in China 2020 1.69 trillion announced on 31 May 2022e yuan, +31 % yoy1) 2021 +10% to USD 36bn2) CBEC to China equals 31% 67% of people in survey of all
Slide 12: Sales Channels China
China Sales Channels China In the past years windeln.de successfully extended its shops and sales channels in China. Jd.com WeChat mini program B2B WDL Flagship Store WDL Shop WDL business customers Tmall Chinese webshop WDL Flagship Store WDL own shop 12
Slide 13: Chinese logistics set-up
China Chinese logistics set-up windeln.de has an excellent logistics network and internal know-how to fulfill demand for CBEC products to China. Direct delivery for our online shop windeln.com.cn from Halle/Germany 15-20 days Tax already paid Flight to China 9-15 days 3 local bonded warehouses in ma
Slide 14: Strategy
Strategy 14
Slide 15: Strategy
Strategy Strategy windeln.de with strong focus on margins and revenue growth in China. ✓ Focus on existing markets, channels and sales channels in the German-speaking region and in China ✓ Diversification of product range and profitable growth in China, e.g. through higher customer retention activit
Slide 16: Our Vision
Company Overview Our Vision We want to make a difference in the lives of moms, dads and their youngest - no matter the topic. Whether the diaper supply is coming to an end, the once huge crib suddenly becomes too small or products are needed for a family adventure - with more than 10 years of experi
Slide 17: Our Mission
Company Overview Our Mission We are always there for you. Around the clock with plenty of products online - for the most precious gift in this world: our children. The birth of a child is an exciting and wonderful, but also challenging time for parents. When small and large miracles happen, that tur
Slide 18: Financials
ke windeln Financials 18
Slide 19: Revenue development full year 2021 & Q1 2022
Financials Revenue development full year 2021 & Q1 2022 Revenues by quarter year over year ✓ Revenues year over year in EUR million, Group total in EUR million, Group total China: Inventories in Chinese warehouses were kept low at times to preserve liquidity. In addition, the segment was Europe: Due
Slide 20: Margin development full year 2021 & Q1 2022
Financials Margin development full year 2021 & Q1 2022 Comments FY Q1 FY 2021: 1.7 pp below the margin of the FY 2020. With a margin 2020 2021 2021 2022 of approx. 20%, Europe remained on prior years level. The gross margin of segment China decreased by 2.2 pp. Q1 2022: 12.8 pp above the margin of Q
Slide 21: China and Europe segments full year 2021 & Q1 2022
Financials China and Europe segments full year 2021 & Q1 2022 Comments FY Q1 • FY 2021: Revenues in Europe and China both decreased, as they were affected by ongoing one-off 2020 2021 2021 2022 effects (Covid-19, relocation of warehouse, restrictions of deliveries, conservation of liquidity) – Reven
Slide 22: Net working capital development by quarter
Financials Net working capital development by quarter Inventory In EUR million 8.0 9.8 7.4 5.6 4.1 4.9 4.2 3.6 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Days inventory (DIO) 60 57 40 48 30 53 38 45 Accrued advertising revenues + vendors with credit balance (EUR 1.3 0.9 0.7 0.8 0.8 0.9
Slide 23: Liquidity bridge in Q1 2022
Financials Liquidity bridge in Q1 2022 Cash available / Cash Flow In EUR million 23
Slide 24: Appendix
Appendix 24
Slide 25: Current Shareholder Structure
Current Shareholder Structure Basic share data Hedge Stone Multi- WKN WNDL30 / WNDL31 Strategy Global Free Float Consumer Fund ISIN DE000WNDL300 (1,974,819) (1,020,612) DE000WNDL318 35.8% 18.5% Market place Frankfurt Stock Exchange / Stuttgart Stock Exchange Type of share No-par value bearer shares
Slide 26: Key performance indicators quarter over quarter from continuing operations
Key performance indicators quarter over quarter from continuing operations Excl. pannolini, Feedo and Bebitus Q2’20 Q3’20 Q4’20 Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 Site Visits 4,670 5,572 6,187 3,748 3,832 5,217 6,385 5,612 (in thousand) ¹ Mobile Visit Share 82.8% 89.2% 90.2% 87.4% 87.4% 92.8% 94.2% 93.5%
Slide 27: Definitions of key performance indicators
KPIs Agenda Definitions of key performance indicators 1) We define Site Visits as the number of series of page requests from 5) Orders placed and orders delivered may differ due to orders that the same device and source in the measurement period. Visits to are in transit at the end of the measuremen
Slide 28: Income statement FY 2020/2021 & Q1 2022
Income statement FY 2020/2021 & Q1 2022 kEUR FY 2020 FY 2021 Q1 2021 Q1 2022 Revenues 76,067 52,092 14.644 12.778 Cost of sales -59,883 -41,906 -12.284 -9,081 Gross profit 16,184 10,186 2.360 3.697 % margin 21.3% 19.6% 16.1% 28.9% Selling and distribution expenses -19,038 -15,490 -4.139 -3.179 Admin
Slide 29: Bridge to adjusted EBIT
Bridge to adjusted EBIT Full year EUR million; % of revenues FY 2020 FY 2021 Reported EBIT (8.7) (10.8) Reported EBIT in % -11.4% -20.7% Effects of deconsolidation (0.2) 0 Share-based compensation 0.1 (0.0) Expenses in connection with data leak 0 0.2 Impairment of intangible assets 0 1.1 Impairment
Slide 30: Cash flow statement FY 2021 & Q1 2022
Cash flow statement FY 2021 & Q1 2022 kEUR FY 2020 FY 2021 Q1 2022 Cash and cash equivalents at the beginning of the period 8.4 8.5 4.1 Net cash flows from/used in operating activities (7.1) (10.4) 0.7 Net cash flows from/used in investing activities (0.5) (0.0) (0.0) Net cash flows from/used in fin
Slide 31: Balance sheet December 31, 2021
Balance sheet December 31, 2021 December 31, December 31, December 31, December 31, kEUR 2020 2021 kEUR 2020 2021 Intangible assets 2,017 241 Issued capital 10,982 16,567 Fixed assets 1,385 1,035 Share premium 173,714 174,854 Other financial assets 108 109 Accumulated loss -174,482 -188,030 Other no
Slide 32: Balance sheet March 31, 2022
Balance sheet March 31, 2022 December 31, March 31, December 31, March 31, kEUR 2021 2022 kEUR 2021 2022 Intangible assets 241 276 Issued capital 16,567 5,522 Fixed assets 1,035 974 Share premium 174,854 174,771 Other financial assets 109 109 Accumulated loss -188,030 -177,878 Other non-financial as
Slide 33: Thank you!
Thank you! © windeln.de SE Stefan-George-Ring 23 81929 Munich