Vogo Sa · EURONEXT:ALVGO
Vogo Sa — IPO Roadshow (November 2018)
48 slides from Vogo Sa's IPO roadshow presentation, November 2018
Slide 1: Upcoming IPO on Euronext Growth Paris - November 2018
Upcoming IPO on Euronext Growth Paris® - November 2018 1
Slide 2: Disclaimer
Disclaimer This document is strictly personal and confidential obligation, to provide updates or to revise any thereto. The securities of VOGO may not be offered This document, a copy of this document or any and should not be distributed to anyone other than forward-looking statements. or sold in th
Slide 3: Speakers
Speakers CHRISTOPHE CARNIEL, BARBARA DESMAREST, VP BUSINESS CHAIRMAN & CEO DEVELOPMENT & SALES EUROPE Graduated from Ecole des Mines in Ales MBA from INSEAD 1993 Co-founded NÉTIA with Pierre Keiflin 1994 Boston Consulting Group 2008 Acquisition of NÉTIA by Orange 1999 Brand development in the fashio
Slide 4: "Sportech": the race is on
“Sportech”: the race is on Smart Stadium The Stadium of Tomorrow : « a vision of Apps the future for stadium design, exploring how technology will transform the spectator experience. » (1) Connected Social devices networks EMERGENCE OF « SPORTECH » Source: (1) ‘The Stadium of Tomorrow’ National Geog
Slide 5: VOGO is revolutionising the in-stadia experience
VOGO is revolutionising the in-stadia experience THE RAW ATMOSPHERE OF THE & THE IMMERSION OF « LIVE & REPLAY » STADIUM Live Multicam Choose the camera you want to watch Instant Replay Rewind at any time to replay Slow motion Zoom an action sequence Zoom in and freeze Activate slow motion in replays
Slide 6: At the heart of the action
At the heart of the action FRANCE - ITALY Video Link : click here Video Link : click here At June 1, 2018 6
Slide 7: Solutions dedicated to "Fans" and "Pros"
Solutions dedicated to “Fans” and “Pros” VOGO "FANS" VOGO "PROS" An unprecedented experience for the “spect’actor” Decision-making tool used for medical staff, refereeing, video analysis or media comments Get closer to the action Get an overview of an event Follow all high-speed sports Never miss a
Slide 8: How does it work?
How does it work? Producers & VOGO Broadcasters scope The VOGO BOX transforms the video feeds into a network 4 1 3 stream The VOGO BOX Cameras broadcasts the streams in are filming the multicast mode via event WiFi stations 5 Camera feeds are Users receive the consolidated in the TV streams instantl
Slide 9: Solid technological barriers to entry
Solid technological No limit on number of users Seamless user experience (no download latency, instant barriers to entry No saturation zoom) Network stram (data compression) Video stream (HD SDI) €4m invested in R&D Limited outlay for since inception IT infrastructure and equipment 4 patents Scalabi
Slide 10: A disruptive technology in comparison with traditional infrastructures
A disruptive technology in comparison with traditional infrastructures HIGH-DENSITY NETWORK INFRASTRUCTURE Substantial CAPEX Rental solution ensuring rapid ROI Limited number of users Unlimited number of users Streaming latency Fluidity (replay, camera switching) Bandwidth saturation by video Limite
Slide 11: Acceleration under way
Acceleration under way Evolution of the number of events covered Target 500 More than 700 over 4 continents events covered 1 key partner 20 disciplines 292 Official VOGO integrator in Japan 269 events already covered in H1 2018 96 33 11 Launch 2013 2014 2015 2016 2017 2018 2 major awards x2 Capital
Slide 12: Over 60 major clients
Over 60 major clients Event Clubs, federations organisers and leagues Sports venues 12
Slide 13: Value proposition
1. Value proposition Enriching the Fan Experience and offering decision-making tools to industry professionals 13
Slide 14: Clubs, federations and event organisers now face new challenges
Clubs, federations and event organisers now face new challenges 67% of olympic federation representatives acknowledge that reliance on new 52% of fans use a smartphone or tablet to access sports content technologies represents the most decisive change in their business model (1) while watching a gam
Slide 15: Enriching the Fan Experience
Enriching the Fan Experience PRE-MATCH DURING THE MATCH POST-MATCH Interviews Player arrivals Behind the Replays, Statistics Exclusive content Highlights & Interviews scenes multicams (referee comments, tutorials, etc.) New innovative media for Overview brand visibility and spokesmanship • Integrati
Slide 16: Pros: strategic decision-making tools
Pros: strategic decision-making tools The VOGO solution: Additional features optimising each professional’s specific workflow Simultaneous viewing Tagging of video feeds Full autonomy and mobility Multi-device solution Recording and viewing of select actions Key stakes HIA protocols(1) • Medical sta
Slide 17: VOGO - The tool
VO. GO - 70 The oe 17
Slide 18: A technological edge over the competition
1. A technological edge over the competition FANS Features for & PROS Fans and Pros PROS FANS SOLUTIONS WITH STREAMING BROADCAST MULTICAST DEVICES SOLUTIONS SOLUTIONS (UNICAST) SOLUTIONS Device constraint High latency Limited scope Immediacy and network saturation No user limit 18
Slide 19: Global market coverage
2. Global market coverage Netherland Germany 1 agent 1 agent United States UK 2 agents Japan, 1 integrator, 1 integrator Spain, Portugal, 1 distributor, 1 agent China, Hong Kong, Taiwan and Macao 1 distributor 1 agent Lansen Sports Communications Italy Mexico, Canada, 1 distributor South America and
Slide 20: Panasonic: a strategic partner
3. Panasonic : a strategic partner Validation of our technology 18 months spent auditing the VOGO solution A commercial springboard Successful initial large-scale trial: 2018 Winter Olympics Since 2017: Panasonic Information Systems Co., Ltd, “This should be able to get established official integrat
Slide 21: A resilient, high-margin business model
4. A resilient, high-margin business model From FAN SOLUTIONS PRO SOLUTIONS IN-APP PURCHASES 2019 Freemium app: access to specific Pricing per Event or per Season in-stadium video feeds In-app purchases: micro-purchases to Prices vary by: access additional content (video ▪ Number of matches multiple
Slide 22: A scalable platform
5. A scalable platform Fleet management of Centralised management at VOGO’s head office VOGO BOXES ensured Fast installation calling for little IT infrastructure and HR • One-day installation with 1-2 technicians No human intervention once installed on-site already 50 VOGO • No matter how big or sma
Slide 23: An experienced team
6. An experienced team Christophe Carniel, CEO Pierre Keiflin, COO Breakdown of workforce at 01/09/2018 Véronique Puyau, CFO 15 employees Daniel Dédisse, CTO R&D 33% Sales and Barbara Desmarest, VP Business Christelle Albinet, operational team General Development & Sales Europe Office manager Manage
Slide 24: In the words of Tony Parker
In the words of Tony Parker… Video Link: click here 24
Slide 25: Supporting growth and international development
Supporting growth and international development 25
Slide 26: There for the taking: acceleration drivers
There for the taking 4 acceleration drivers Every year the world holds 1 Expand the technology gap more than 1,000 major 2 Ramp up global commercial deployment sporting events and 3 Develop in-app revenues 600 major championships 4 Break into new markets 26
Slide 27: Expand the technology gap
1. Expand the technology gap ADAPT THE VOGO SOLUTION TO 5G NETWORKS 2 patents pending 2019 2 - 5 YEARS 2020 ADD NEW FEATURES TO THE EXISTING PRODUCT DEVELOP NEW 1 patent pending PRODUCTS 27
Slide 28: Ramp up global commercial deployment
2. Ramp up global commercial deployment What’s next: Ramp up deployment of VOGO BOXES 1000 1. Expand the sales and marketing team 2. Set up a branch in the US 3. Develop the Quebec subsidiary 500 4. Develop distribution networks in as-yet untapped areas 50 5. Prepare for major upcoming events june 2
Slide 29: Develop in-app revenues
3. Develop in-app revenues Freemium app Access to certain in-stadium video feeds Explosion of in-app revenues with in-app micro-purchases to access additional video : Average in-app spending worldwide(1): multiplex content (access to video feeds from $0.50 per user per month other athletic events),
Slide 30: Break into new markets
4. Break into new markets FASHION ENTERTAINMENT ESPORT Two fashion shows covered with Already three concerts A first successful French Haute Couture brands covered roll-out Available live in shops, Zoom on the artist, artist’s Coverage of several eGamers including a real-time viewpoint, sub-titles a
Slide 31: Our ambitions
Our ambitions ~€50m 40% ~€10m EBITDA MARGIN REVENUE €739k BREAKEVEN EBITDA -€704k 2017 2020 2023 LONG-TERM 31
Slide 32: ) (:) [: aa I; ; Atives
) (:) [: aa I; ; Atives GET CLOSER SSS rs \ TO THE ACTION
Slide 33: Sharp acceleration in growth
Sharp acceleration in growth Change in revenue (€k) Comments ▪ Solid revenue growth attributable to: 739* − Launch of the “Pro” solution from H2 2017 +94% − Increasing number of events covered (269 in H1 2018 vs. 292 at end-2017 vs. 96 at end-2016) ▪ R&D is recognised and amortised over 3 years 680
Slide 34: Why invest?
Why invest ? A unique chance to invest Disruptive technology that is A mass adoption of the solution in the first Sportech listed revolutionising economics of with more than 700 sporting on the Euronext Growth® Smart Stadium events covered A ecosystem of partners in the sports and event management A
Slide 35: Euronext Growth to accelerate
Euronext Growth® to accelerate 35
Slide 36: Terms and conditions of the Offering
Terms and conditions of the Offering LISTING MARKET Euronext Growth® Paris INDICATIVE €10,01 - €12,63 (mid-price : €11,32) PRICE RANGE OFFERING New ordinary shares (ISIN code : FR0011532225 - Ticker: ALVGO) Initial size of the offering: 999,001 newly issued shares, i.e. €11.3m1 STRUCTURE Extension C
Slide 37: Subscription commitments details
Subscription commitments details €6.2m SECURED IN THE FORM OF SUBSCRIPTION COMMITMENTS RECEIVED FROM EMBLEMATIC FIGURES IN THE SPORTS AND EVENT MANAGEMENT INDUSTRY ▪ 5.1 M€ in redeeming bond debt into new shares through the early redemption of the bond issued on 15 October 2018 Some noteworthy inves
Slide 38: Indicative transaction timetable
Indicative transaction timetable 14 NOV. 18 Approval of the prospectus by the AMF (Visa) 15 NOV. 18 Launch of the Open-Price Offer (OPO) and of the Private Placement Closing of the OPO (6 pm for counter subscriptions and 8 pm for online 26 NOV. 18 subscriptions, Paris time) Closing of the Global Off
Slide 39: Shareholding structure
Shareholding structure On the basis of a 100% offer and the mid-price of the price range Pre-IPO Post-IPO Post-IPO before the exercise of Extension Clause ater the exercise of Extension Clause and Overallotment Option and Overallotment Option Private Private Founders Private Founders Founders invest
Slide 40: Presentation of the stakeholders
Presentation of the stakeholders Global coordinators, Co-Lead Managers, Joint Bookrunners Advisor +Listing Sponsor Financial Legal Advisory Auditors Communication 40
Slide 41: Get closer to the action
GET CLOSER — TOTHE ACTION 41
Slide 42: Income statement
Income statement H1 2018 vs. H1 2017 (€k) 30/06/17 30/06/18 Change 31/12/16 31/12/17* Operating income (loss) Revenue 142 286 +101% 381 739 ▪ Revenue is predominantly generated in Operating income 274 362 +31% 759 983 France 839 1,078 +29% 1,823 2 085 ▪ Other operating income comprises the Operating
Slide 43: Balance Sheet & Cash Flow Statement
Balance Sheet & Cash Flow Statement (€k) 31/12/17 30/06/18 (€k) 31/12/17 30/06/18 Fixed assets 914 851 Cash flow from operating activities -991 -290 Cash flow from investing activities -143 -120 o/w Intangible assets 628 578 Cash flow from financing activities -182 -61 Current assets 2,252 1,525 CHA
Slide 44: An addressable market of more than €500m
An addressable market of more than €500m DIVERSIFICATION New markets €200m(2) In-app purchases between €50 and €400m(1) Pro solutions €90m Fan solutions (seasons, events and major global events) €375m Company estimates based on public data, details in appendices - (1) According to time sensitivity,
Slide 45: VOGO's addressable market
VOGO’s addressable market FAN SOLUTIONS PRO SOLUTIONS IN-APP PURCHASES Per season Average price per season 30,000 Average price per championship 150,000 Selling price per spectator per match(2)(4) 0.50-1.50 x Number of professional championships(1) 600 x Number of professional championships(1) 600 x
Slide 46: VOGO's addressable markets in eSport, entertainment and fashion
VOGO’s addressable markets in the eSport, entertainment and fashion segments FASHION ENTERTAINMENT ESPORT Average price per fashion show 50,000 Average price per event 5,000 Average price per competition 5,000 x Number of shows during Fashion Weeks(1) 1,900 x (Number of major operas(2) 6,000 x Numbe
Slide 47: Integration with third-party apps: "the Trojan Horse"
Integration with third-party apps: “the Trojan Horse” * September 2016 Deployment of VOGO solution in Stade Toulousain app Downloaded over 350 000 times Up to 80% “Live & replay by Vogo” usage rate at matches Also for… 47
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