ALSO Holding AG · SIX:ALSN
ALSO — Investor Day (November 2018)
21 slides from ALSO's investor day presentation, November 2018
Slide 1: From Box Mover to End to End IT Provider
FROM BOX MOVER TO END TO END IT PROVIDER Investorentag November 2018
Slide 2: Strategy
STRATEGY
Slide 3: MORE – ALSO's Sustainable and Profitable Growth Strategy
MORE – ALSO’S SUSTAINABLE AND PROFITABLE GROWTH STRATEGY The introduction of MORE in 2012 laid the foundation for the steady and sustainable development of the company: GROWTH MAINTAIN: Transactional supply business OPTIMIZE: PIP, POP REINVENT: Solutions and Services ENHANCE: Acquisitions PROFITABIL
Slide 4: Continual Optimization of Income
CONTINUAL OPTIMIZATION OF INCOME Five steering levers which ALSO consistently improves: 3S MIX VENDOR MIX BUYER MIX PRODUCT OPEX CATEGORY MIX REDUCTION 4 19. November 2018 Präsentation ALSO
Slide 5: Three Business Models with Different Metrics
THREE BUSINESS MODELS WITH DIFFERENT METRICS Combining strong net sales of the transactional business with the loyalty arising from consultancy expertise and the profitability of long-term, usage-oriented offers SUPPLY SOLUTIONS SERVICES Addressable Addressable Addressable ALSO market: ALSO market:
Slide 6: Track Record
TRACK RECORD
Slide 7: Our Journey So Far
OUR JOURNEY SO FAR Excellent performance track record 2017 Market Cap: CHF 1’721 mn 2012 Net sales: EUR 8’891 mn. FTES: 3’790 Market Cap: CHF 558 mn Net sales: EUR 6’297 mn. ► Achieved #1 or #2 position in 10 of the 15 ALSO Business: FTES: 2’985 countries 4% 18% Supply Business: ► Unbundled Supply,
Slide 8: Our Journey in Figures
OUR JOURNEY IN FIGURES Strong results improvement Net Sales Net Profit +41.1% +103.3% 83,2 8,89 92,5 In € bn. 7,98 In € mn. 7,79 60,9 62,9 7,24 50,1 6,53 46,3 6,3 2012 2013 2014 2015 2016 2017 2012 2013 2014 2015 2016 2017 EBITDA ROE +43.5% +3.1% 14,8% 146 157,3 14,7% 140 Points 13,4% ROE in % In €
Slide 9: Growth Perspectives
GROWTH PERSPECTIVES
Slide 10: Growth Opportunities in Every Business Model
GROWTH OPPORTUNITIES IN EVERY BUSINESS MODEL MOST SUBSTANTIAL IN SOLUTIONS AND AS-A-SERVICE Main lever: monetization of the SEAT BUSINESS REVENUE TYPE VOLUME MARGIN SUPPLY ► Increase of market share in all countries, with special focus on the 5 countries Mainly where market shares are under average
Slide 11: The third S: driving sustainable recurring growth
The third S: driving sustainable recurring growth
Slide 12: Strategy: ABE
STRATEGY: ABE A ANALYZE: ► Make or Buy B BUILD: ► Microsoft Office 365 E ENHANCE: ► Platform as a Service (PaaS) – more regions ► Alternatives ► Alternative HARDWARE ► Acquire software providers ► Infrastructure as a Service (IaaS) ► Device as a Service (DaaS) ► Software as Service (SaaS) – other ca
Slide 13: Track Record: 800+ Cloud Services from 90+ Providers So Far
TRACK RECORD: 800+ CLOUD SERVICES FROM 90+ PROVIDERS SO FAR OVER 90 TOP PROVIDERS AND COUNTING OUR STRONGEST CATEGORIES CRM Back-up VoiP Online Online storage Security Workspace 3 NEW SERVICES ADDED EVERY Tools/ MONTH VPS Software Devices 13 19. November 2018 Präsentation ALSO
Slide 14: Track Record: IT-as-a-Service
TRACK RECORD: „IT-AS-A-SERVICE“ TURNOVER SEATS COUNTRIES 176 bn € 1,3 130 mn 81 mn € 100 €2 3.5 13 mn mn mn 23k 50k 2 2013 2014 2018 2013 2014 2018 2013 2014 2018 TAM ALSO countries Turnover SEATS approx. Gartner IT Eurostat spending employment forecast figures 2017 service market 14 19. November 20
Slide 15: Growth Waves for Sustainable Recurring Growth in X-as-a-Service
GROWTH 5 waves for sustainable reoccurring growth in “X-as-a-Service” Add more SEATS Monetize + Monetize Add new partners Add more SEATS 1 Mio SEATS 1.3 Mio SEATS at partner of existing partners € 130mn 1.3 mn 81 1 mn Turnover SEATS countries SEATS €1.2bn 4 mn + 100 6 mn SEATs SEATS 15 19. November
Slide 16: Financial Outlook
FINANCIAL OUTLOOK
Slide 17: Margin Improvement
MARGIN IMPROVEMENT Through development of company structure towards solution and service provider ALSO ALSO today Future ALSO 2007 Sales split: Sales split: 20 5,0% 18 10% 4,5% 16 4,0% 14 3,5% EBITDA 12 30% 3,0% 4% As-a-Service 10 2,5% Solutions 18% 8 2,0% Supply 6 1,5% 60% 4 78% 1,0% 2 0,5% 0 0,0%
Slide 18: Guidance
GUIDANCE Midterm outlook for key performance indicators PERFORMANCE INDICATOR MIDTERM TARGET NET SALES INCLUDING ACQUISITIONS EUR 10–14 BN. AS A SERVICE NET SALES OF OVERALL NET SALES 10% SOLUTIONS NET SALES OF OVERALL NET SALES 30% EBITDA MARGIN 2.1-2.6% 18 19. November 2018 Präsentation ALSO
Slide 19: Summary
SUMMARY
Slide 20: Investment Highlights
INVESTMENT HIGHLIGHTS High potential by development of Solution and as a Service business models (cloud business) ► Robust business with clear value propositions for customers and high entry barriers. ► Strong market position as #1 or #2 in the majority of countries with a direct market presence. AL
Slide 21: Danke
DANKE