Nakiki Se · XETR:WDL1
Nakiki — windeln.de — Investor Presentation (January 2022)
36 slides from Nakiki's investor presentation, January 2022
Slide 1: Company Presentation windeln.de SE
Company Presentation windeln.de SE January 2022
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 12 3. Strategy 16 4. Revenues 20 5. Appendix 22 3
Slide 4: Company Overview
Company Overview 4
Slide 5: Our Vision
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 experience, we put our
Slide 6: Our Mission
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 turn everything upsi
Slide 7: Our Key Competitive Strength
Our Key Competetive Strengh Windeln.de is a well known and trusted brand in China & Europe. We have a very unique infrastructure for cross-border e-commerce: TMall and JD flagship stores, own WebShop and WeChat Mini programme as well as three local bonded warehouses in mainland China.. The partnersh
Slide 8: Board Members
Board Members Dedicated Board Members and Supervisory Board • Combined extensive experiences • All important business areas covered: Marketing, Category Management, Legal and Operation Board Member Bastian Salewsky Xiaowei (Sean) Wei Chairman, CEO Board Director Marketing, Category Management, HR, P
Slide 9: DACH Facts 2021
DACH Facts 2021* windeln.de SE is one of the leading online retailers for baby, children and family products in Europe and China. 144k+ Active Customers in 2021* 226k+ Orders in 2021* Presence in Europe & China +420 Brands represented 20 million * Page Views in 2021* * 1st January - 31th December 20
Slide 10: Development History and Business Milestones
Development History and Business Milestones Windeln.de SE launched its first web shop in Germany in October 2010 and has gradually developed a strong focus towards the Chinese market, where it generates nearly 70% of its revenue. Oct: • Opened Tmall Global • Launched WeChat Launched bonded mini prog
Slide 11: Intensive Transformation Process
Intensive Transformation Process • Re-Negotiation of Commercial Terms (cost saving) • Selection Curation (cost saving) 2019 • Reduction of Negative Cash Flow • New Forecasting Algorithm (cost saving) • Re-Vitalization of Strategic Vendor Relations (customer experience) 2020 • Launch of JD.com (net r
Slide 12: China
China 12
Slide 13: China – E-commerce sales
China – E-commerce sales The Chinese market is highly attractive; focus on the categories with the highest penetration of CBEC to China. E-Commerce baby & toddler market China Cross-Border E-Commerce in China 2022 USD in 2021: EUR 98bn 312,6m +15% yoy +9% CAGR 2020-2025 Strong development in China C
Slide 14: China – Development of Retail E-Commerce sales expected to stay on high level
China – Development of Retail E-Commerce sales expected to stay on high level Growth rates are expected to stay close to 20% in the upcoming years. Source:https://www.emarketer.com/content/china-ecommerce-2019 14
Slide 15: Successful extension of our shops and sales channels in the attractive Chinese market
China Successful extension of our shops and sales channels in the attractive chinese market Jd.com WeChat mini program B2B WDL Flagship Store WDL Shop WDL business costumers Tmall Chinese webshop Sourcing from china WDL Flagship Store WDL own shop WDL business customers 15
Slide 16: Strategy
Strategy 16
Slide 17: Windeln.de - Strategy
Windeln.de - Strategy ✓ Overall ✓ focus on our existing markets, channels and sales channels ✓ diversify our product range in China ✓ increase margins in the European business ✓ further reduce the cost structure in other sales and administrative areas ✓ China ✓ remain one of the leading e-commerce p
Slide 18: China remains the most important market, contributing almost 80% of Revenues in Q1 2022
China remains the most important market, contributing almost 80 % of Revenues in Q1 2022 Revenues Q1 2022 • Local China team fully operational EUR m • Sales platform JD.com launched Structure • Relocation of the European central warehouse (Set-up) Revenue growth 20,7% in 2022 in existing channels 79
Slide 19: DACH Strategy 2022
DACH Strategy 2022 Profitable Growth China • As a specialist, the curated assortment compiled by our internal experts builds the heart of our company. We want to meet high-quality standards and for that reason we pre-select the most suitable and popular products for our customers. • As a company wit
Slide 20: Revenues
windeln Revenues 20
Slide 21: Revenue development full year 2021 & Q1 2022
Revenue development full year 2021 & Q1 2022 Revenues by quarter year over year ✓ Revenues year over year China: Inventories in Chinese in EUR million, Group total warehouses were kept low at times in EUR million, Group total to preserve liquidity. In addition, the segment was also affected by the E
Slide 22: Appendix
Appendix 22
Slide 23: Limited availability of goods and lower sales impact financial results
Limited availability of goods and lower sales impact financial results 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
Slide 24: China and Europe segments affected by Covid-19 and warehouse relocation
China and Europe segments affected by changes of Covid-19 and relocation of main warehouse in 2021 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 deliverie
Slide 25: Decrease in net working capital in 2021 and Q1 2022
Decrease in net working capital in 2021 and Q1 2022 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 0.
Slide 26: Outlook 2022
Outlook 2022 2022 Outlook Revenue • Very strong growth Operating contr. Margin • Significant improvement Adj. EBIT • Very strong improvement in adjusted EBIT 2022 is anticipated • Adj. EBIT break-even target anticipated in 2023 Operating CF Mid single-digit million range NWC Very strong increase to
Slide 27: Current Shareholder Structure
Current Shareholder Structure Hedge Stone Multi- Basic share data Strategy Global WKN WNDL20 / WNDL12 Consumer Fund (2,632,899) ISIN DE000WNDL227 Free Float 18.5% (5,257,962) DE000WNDL128 35.7% Market place Frankfurt Stock Exchange / Stuttgart Stock Exchange Type of share No-par value bearer shares
Slide 28: 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 29: 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 30: 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 31: Bridge to adjusted EBIT
Bridge to adjusted EBIT: Impairment of assets in connection with the outsourcing of store architecture amounting to 1.1 m EUR (Q4 2021) 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 comp
Slide 32: Cash flow statement FY 2021 & Q1 2022
Cash flow statement FY 2021 & Q1 2022 showing cash increase in Q1 2022 from operating activities 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 a
Slide 33: Improvement in liquidity position in Q1 2022
Cash Flow Improvement in liquidity position in Q1 2022 Cash available / Cash Flow In EUR million 33
Slide 34: 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 35: 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 36: Thank you!
Thank you! © windeln.de SE Stefan-George-Ring 23 81929 Munich