Mci Capital Alternatywna Spolka Inwestycyjna S.a. · GPW:MCI
Mci Capital Alternatywna Spolka Inwestycyjna — MCI Capital S.A. / Private Equity Managers — FY2019 Earnings Presentation
19 slides from Mci Capital Alternatywna Spolka Inwestycyjna's earnings presentation, Apr 30, 2020
Slide 1: Investor presentation MCI/PEM 2019
Investor presentation MCI/PEM 2019 Warsaw, 30 April 2020 1
Slide 2: Contents
Contents 1) 2019 Summary 3 2) Financial results of MCI Capital 4 3) Financial results of Private Equity Managers 7 4) Recent exits 10 5) Financial results of Investment Funds 11 6) New Investments 13 7) Expected cash flows in 2020-2024 14 8) COVID-19 impact on MCI / PEM Group 16
Slide 3: 2019 Summary | Key information
3 2019 Summary | Key information 2019 Major events in MCI/PEM Group (until now): • Realised exits: Dotpay/eCard (PLN 255M), ABC Data (PLN 142M), Indeks (PLN 41M; partial exit), Frisco (PLN 125M), Netrisk (PLN 322M), Geewa (PLN 28M), Immoventures Sp. z o.o. (PLN 4M). • Systematically decreasing level
Slide 4: Key financial data for 2019 MCI Capital
4 Key financial data for 2019 MCI Capital PLN 2,606 PLN 2,208 PLN 1,514 PLN 1,271 million million million million Funds’ net IC value Net asset Funds’ assets asset value in MCI balance sheet value (NAV) of MCI PLN 128 PLN 113 PLN 24.01 11% million million Profit on investment Net profit Net assets p
Slide 5: Results summary – MCI Capital | Profit and loss account 12M 2019
5 Results summary – MCI Capital | Profit and loss account 12M 2019 12M’19 vs 12M’18 – MAIN CHANGES: PLN thousand 12M 2019 12M 2018 Change Change (%) 1. Profit on investment fell by PLN 59.5M as a result of the Revaluation of shares 131 095 90 000 41 095 45,7% dividend payment by the subsidiary MCI F
Slide 6: Results summary – MCI Capital | Balance Sheet as at 31.12.2019
6 Results summary – MCI Capital | Balance Sheet as at 31.12.2019 PLN thousand 31.12.2019 31.12.2018 diff diff (%) Assets 1 442 799 1 368 257 74 542 5,4% Investment Certificates 20 251 78 443 (58 192) -74,2% (a) Investment in subsidiaries 1 400 585 1 264 032 136 553 10,8% (b) ICs + Investment in subs
Slide 7: Key financial data for 2019 PEM
7 Key financial data for 2019 PEM PLN 2,208 PLN 2,606 million million PLN 12 PLN 10 million million Funds’ net Funds’ assets asset value Gross profit Net profit PLN 50 20.2% -10.1% 3.6% million Net IRR EV Net IRR TV Net IRR CV Revenues from management LTM LTM LTM
Slide 8: Results summary – PEM | Profit and loss account 12M 2019
8 Results summary – PEM| Profit and loss account 12M 2019 12M’19 vs 12M’18 – MAIN CHANGES: 1. Decrease of Revenues from fund management by PLN 1.8M y/y. PLN thousands 2019 2018 diff diff (%) PLN thousand 12M 2019 12M 2018 Change Change (%) Revenue structure is as follows: • Fixed remuneration: PLN 3
Slide 9: Results summary – PEM | Balance Sheet as at 31.12.2019
9 Results summary – PEM| Balance Sheet as at 31.12.2019 PLN thousand 31.12.2019 31.12.2018 diff diff (%) Assets 124 703 112 974 11 729 10,4% Goodwill 83 969 83 969 - 0,0% Trade and other receivables 30 419 17 041 13 378 78,5% (q) Cash and cash equivalents 546 6 147 (5 601) -91,1% Other assets 9 769
Slide 10: Recent exits
10 Recent exits Six transactions completed in last 16 months generated over PLN 930 million (~EUR 220 million) inflow. Investment date: July 2015 Investment date: May 2007 Investment date: Jan 2012 Investment date: Dec 2017 Investment date: June 2007 Investment date: July 2015 Exit date: January 201
Slide 11: Results summary – MCI.EuroVentures 1.0.
11 Results summary – MCI.EuroVentures 1.0. MCI.EuroVentures 1.0. 4Q 2019 Geographical Fund Managers: Portfolio (PLN million) as of 4Q 2019 breakdown of Tomasz Czechowicz / Maciej Kowalski/ portfolio 30% CUMULATIVE (PARTIAL) Krzysztof Konopiński COUNTRY PURCHASE PRICE EXIT VALUE Other countries PL 23
Slide 12: Results summary – MCI.TechVentures 1.0.
12 Results summary – MCI.TechVentures 1.0. MCI.TechVentures 1.0. 4Q 2019 Geographical Fund Managers: Portfolio (PLN million) as of 4Q 2019 breakdown of Tomasz Czechowicz / Krzysztof Konopiński COUNTRY MODEL /AERA CUMULATIVE PARTIAL VALUE portfolio PURCHASE PRICE EXIT MCI.TechVentures 1.0. focuses on
Slide 13: New investments: 1-2 investments per year
13 New investments : 1 - 2 investments per year Key financial KPIs (EUR): Sectors (CEE Natonal and Regional Key Risks: ▪ 33M-150M EV Digital Disruptors and Enablers): ▪ Technology risk ▪ 2.5M-10M EBITDA ▪ Payments, Fintech & Insurtech ▪ Globalization risk ▪ 20%-50% organic growth (YoY) ▪ Marketplace
Slide 14: Expected cash flow 2020 – 2024
14 Expected cash flow 2020 – 2024 2020 2021 2022 2023 2024 ✓ The Group plans to withdraw - exit** - LINX / approximately 10% of Funds’ MEZZANINE DEBT NAV annually. - exit* ✓ Exit expectations are assumed - MEZZANINE DEBT on average PLN 680 million level per year in 2020 – 2024. - exit** ✓ In the imp
Slide 15: Coronavirus: situation in the Group
15 Coronavirus: situation in the Group MCI STRATEGY FOR VOLATILE MARKET LIQUIDITY POSITION IN MCI (Q2 2020) o MCI is well positioned for coronavirus market impact 372* 174** o Our strategy focuses on investing in companies from the CEE PLN million region with digitization at the core of their busine
Slide 16: COVID-19 impact on MCI and immediate surroundings
16 COVID-19 impact on MCI and immediate surroundings MCI is well adapted to the changing environment COVID-19 impact on immediate surroundings COVID-19 impact on MCI Our assessment of situation after the first two months Covid-19 impact on business and MCI portfolio Business: Significant perturbatio
Slide 17: Coronavirus: key portfolio companies
17 Coronavirus: key portfolio companies MCI PORTFOLIO: KEY COMPANIES & COVID19 IMPACT Poland The company addressed business continuity issues, 90% of the employees work remotely, all necessary products and PLN 397m components have been ordered. ATM Value in portfolio MCI.EV/MCI.CV Current market tre
Slide 18: Coronavirus: digital portfolio
18 Coronavirus: digital portfolio IAI # 1 Polish supplier of ATM leading data Travelata – seller of Focus #1 contact center e-commerce platforms for online center on the vacation packages on the application and business stores in the SaaS model, growing at Polish market, online and call center commu
Slide 19: Thank you for your attention
19 Thank you for your attention MCI Capital SA / Private Equity Managers SA Warsaw Spire (+48) 22 540 73 80 Plac Europejski 1, (+48) 22 540 73 81 00-844 Warszawa, office@mci.eu Polska The above presentation does not constitute an offer in the meaning of applicable laws and regulations.
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