Mci Capital Alternatywna Spolka Inwestycyjna S.a. · GPW:MCI
Mci Capital Alternatywna Spolka Inwestycyjna — MCI Capital ASI — H1 2022 Earnings Presentation
23 slides from Mci Capital Alternatywna Spolka Inwestycyjna's earnings presentation, Sep 21, 2022
Slide 1: H1 2022 Results
H1 2022 Results MCI Capital ASI S.A. Warsaw, 21 September 2022 1
Slide 2: Contents
Contents 1) About MCI 3 2) MCI Group – Key developments in H1 2022 (up to now) 4 3) MCI Group – Key financials H1 2022 5 4) Exits from investments 6 5) New investments 7 6) Our team 8 7) Financial results of our Funds H1 2022 (MCI.EV, MCI.TV) 9 8) MCI Group Investment strategy 11 9) Roadmap of plann
Slide 3: About MCI
3 About MCI MCI is the only listed private equity on the Warsaw Stock Exchange ~43% discount to peers from Western Europe** 17.1% increase in NAV/S (CAGR) over the last 22 years MCI Group has historically paid out PLN 268 million to shareholders, including PLN 203 million for share buyback and PLN 6
Slide 4: MCI Group – Key developments in H1 2022 (up to now)
4 MCI Group – Key developments in H1 2022 (up to now) In Q2 2022, the MCI Group achieved a net profit of PLN 80M, regardless of difficult market conditions, which made it possible to make up for the loss incurred in Q1 (PLN 81 million) and generate just a PLN 1M loss in H1 2022 The COVID pandemic an
Slide 5: MCI Group – Key financials H1 2022
5 MCI Group – Key financials H1 2022 34.44 2 065 1 771 2 816 PLN M PLN PLN M PLN M Net asset value (NAV) Gross assets value of the Funds Net assets per share Total assets of MCI Group of MCI Group *** PY: PLN 35.16 PY: PLN 2 064M PY: PLN 1 808M PY: PLN 2 961M (1.1) 128 0.70/4.2 777 PLN/% PLN M PLN M
Slide 6: Exits from investments
6 Exits from investments 5 3 transactions executed by our Team in 2022 generated over PLN 24M of proceeds MOBILTEK LINXDATACENTER AZIMO Date of investment: March 2016 Date of investment: March 2016 Date of investment: May 2015 Date of exit: February 2022 Date of exit: April 2022 Date of
Slide 7: New investments PLN 158M
7 New investments 5 1 transactions carried out in 2022 with a total value of PLN 158M ESKY Date of investment: February 2022 Value of the transaction: PLN 158M (the amount of the transaction also includes recapitalization of the Company) Share: 55% Characteristics of the transaction: In Ma
Slide 8: Our team
8 Our team Partners and Investment Team Tomasz Czechowicz Ewa Ogryczak Michał Górecki Filip Berkowski Aleksandra Kulas Founder, COO, Investment Partner Investment Partner CFO, Investor Relations Managing Partner, CEO Senior Partner [Food&Travel/FinTech/PropTech/ [SaaS/InsurTech&Payments/ OmniChannel
Slide 9: Results summary – MCI.TechVentures 1.0. Subfund
9 Results summary – MCI.TechVentures 1.0. Subfund MCI.TechVentures 1.0. H1 2022 Fund Managers: Portfolio (PLN M) as at 30.06.2022 [8 active investments] Geographical breakdown MODEL / CUMULATIVE PARTIAL of the portfolio 16% Tomasz Czechowicz COUNTRY SECTOR PURCHASE PRICE EXIT VALUATION Other countri
Slide 10: Results summary – MCI.EuroVentures 1.0. Subfund
10 Results summary – MCI.EuroVentures 1.0. Subfund MCI.EuroVentures 1.0. H1 2022 Fund Managers: Portfolio (PLN M) as at 30.06.2022 [5 active investments] Portfolio structure 15% Tomasz Czechowicz CUMULATIVE VALUATION COUNTRY PARTIAL EXIT PURCHASE PRICE MCI.EuroVentures 1.0. invests in medium-sized P
Slide 11: MCI Group – Investment Strategy: Key Assumptions
11 MCI GROUP – INVESTMENT STRATEGY: NEW INVESTMENTS: 1 – 3 INVESTMENTS PER YEAR KEY ASSUMPTIONS KEY INVESTMENT CRITERIA: EUR 25M-100M Equity ticket Digital business located in CEE or Western Europe Strong double-digit organic growth supported by market trends Stable business model with substantial u
Slide 12: MCI Group – Investment Strategy: Other Assumptions
12 MCI GROUP – INVESTMENT STRATEGY: NEW INVESTMENTS: 1 – 3 INVESTMENTS PER YEAR OTHER ASSUMPTIONS Key financial KPIs (EUR): Geography: Key risks: 50M-250M EV sweetspot Poland, Southern region of Central and Eastern Globalization risk 2.5M-25M EBITDA Europe (Romania, Bulgaria, Slovenia, Croatia, Gree
Slide 13: Roadmap of planned portfolio exits 2022-2026+ / Vision 2025
13 Roadmap of planned portfolio exits 2022-2026+* 2022 2023 2024 2025 2026+ ** Vision 2025 • > EUR 1 bilion of AUM • EUR 500 milion of new 2nd tranche investments in 2021 – 2025 dividend • #1 Digital PE House in CEE • 33%+ of portfolio in DACH/WE countries • For our investors – we ensure stable, 2nd
Slide 14: Appendices
mci Appendices <<
Slide 15: IAI
15 IAI Business profile: Investment rationale: Deal team: Invested amounts (PLN M): IAI is the largest e-commerce platform in Poland for The aim of the investment is to build the Tomasz Czechowicz In 2018: 115 creating online stores operating in SaaS model. In position of a clear market leader i
Slide 16: Netrisk Group
16 Netrisk Group Business profile: Investment rationale: Deal team: Invested amounts (PLN M): Netrisk is a leading group that runs internet portals The aim of the investment is to build a CEE Tomasz Czechowicz In 2020: 98* for comparing prices and concluding insurance market champion through org
Slide 17: Pigu Hobby Hall Group
17 Pigu Hobby Hall Group Business profile: Investment rationale: Deal team: Invested amounts (PLN M): Leading e-commerce platform and marketplace in the Low e-commerce penetration in the Stefan Krueger In 2021: 105 Baltics, operating in Lithuania, Latvia, Estonia and Baltic States with strong gr
Slide 18: eSky
18 eSky Business profile: Investment rationale: Deal team: Invested amounts (PLN M): Leading Polish flight Online Travel Agency (OTA) with Underlying market before full recovery to Michał Górecki In 2022: 158 global presence, also in hotel booking and insurance. pre-COVID levels Hubert Wichrowsk
Slide 19: Results summary – MCI Capital Group (consolidated financial statements)
19 Results summary – MCI Capital Group (consolidated financial statements)| Profit and loss account for 6M 2022 and Balance sheet as at 30.06.2022 PLN thousand 6M 2022 6M 2021 Change Change (%) P&L 6M 2022 vs 6M 2021 – MAIN CHANGES: 1. Profit on investment certificates decreased by PLN 345.1M as a r
Slide 20: Results summary – MCI Capital (standalone financial statements)
20 Results summary – MCI Capital (standalone financial statements)| Profit and loss account for 6M 2022 and Balance sheet as at 30.06.2022 PLN thousand 6M 2022 6M 2021 Change Change (%) P&L 6M 2022 vs 6M 2021 – MAIN CHANGES: 1. Profit on investments decreased by PLN 371.2M mainly as a result of real
Slide 21: Results summary – MCI Capital Balance sheet | Business perspective
21 Results summary – MCI Capital Balance sheet I Business perspective Balance sheet perspective as at 30.06.2022 Business perspective / underlying assets [standalone financial statements of MCI Capital ASI S.A.] value share in MCI's value share in MCI's Underlying assets in PLN M assets in PLN M fix
Slide 22: MCI Group – Summary of key financial information
22 MCI Group – Summary of key financial information NAV/S growth history – last 20 years** MCI market price and NAV/S– last 20 years 40 NAV/S Market Price 35.9*35.4 * * 44 * 35.9* 35.4* 35 39 27.8 34 30 27.8 23.9 24.0 29 23.9 24.0 25 20.6 18.7 17.8 24 18.7 17.8 20.6 20 16.5 16.5 15 12.1 19 12.1 9.6
Slide 23: Thank you
Thank you MCI Capital ASI S.A. Warsaw Unit (+48) 22 540 73 80 Rondo Daszyńskiego 1, (+48) 22 540 73 81 00-843 Warsaw, office@mci.eu Poland 23