Way 2 Vat Ltd · ASX:W2V
Way 2 Vat — Investor Presentation (September 2023)
29 slides from Way 2 Vat's investor presentation, Sep 4, 2023
Slide 1: Global VAT Refunds: AI Technology-Driven Solution
For personal use only GLOBAL VAT REFUNDS AI Technology-Driven Solution
Slide 2: Company Vision
Company Vision For personal use only To challenge the status quo of the global VAT industry and make it fully automated with Way2VAT’s unique AI technology
Slide 3: Increase VAT recovery with WAY2VAT AI-technology
Increase VAT recovery with WAY2VAT AI-technology For personal use only • End-to-end fully optimized, automated VAT reclaim solution • Patented AI-technology • Proven solution, simple digital integration • More money for your bottom line
Slide 4: An automated Global VAT refund solution using image processing and AI
An automated Global VAT refund solution using image processing and artificial intelligence For personal use only Global Local AP (suppliers) VAT VAT VAT AIA Automatic Invoice Analysis: Extracting relevant fields and items for VAT refund claims using leading image processing technology
Slide 5: The world's only fintech company automating global VAT reclaim
The world’s only fintech company automating global VAT reclaim processing through image processing and AI For personal use only LON Every month TLV BCN 1M invoices recovered automatically Market potential Enterprise clients $20B 325+
Slide 6: Reclaiming in countries, languages
Reclaiming in 40 countries, 20 languages Australia Austria Belgium Bulgaria Croatia Cyprus For personal use only C. Republic Denmark Estonia Finland France Germany Greece Hungary Iceland Ireland Italy Japan Latvia Lithuania Luxembourg Malta Netherlands New Zealand Norway Poland Portugal Romania Serb
Slide 7: Six IP patents providing protection for years
Six IP patents providing protection for 20 years For personal use only
Slide 8: Advanced AIA capabilities for VAT recovery
Advanced AIA capabilities for VAT recovery SEGMENTATION For personal use only Claimable IMAGE DATA TO INVOICE EXTRACTION "CLAIM- ABILITY" CHECK Unclaimable IMAGE FILES INVOICE IMAGE INVOICE DATA VALID INVOICE Lost potential Image Manipulation Cleanup Validation Image to line matching Duplicates Clai
Slide 9: Advanced AIA capabilities for VAT recovery
Advanced AIA capabilities for VAT recovery An automated analysis of VAT in all types of invoices For personal use only VAT ‘claimability’ detection • Intelligent scanning detects whether the information is a claimable receipt or not • VAT ID validation • Using visual-linguistic analysis of the image
Slide 10: Integration with your expense platform
Integration with your expense platform For personal use only Forms Countries Automated forms Tax authorities filled per country receive automated Computer requirements. reports. Integration invoice Mobile app Scanner Qualified Data Customer [Report] Submission Domestic VAT results provided Claims su
Slide 11: Visibility and control dashboard
Visibility and control dashboard For personal use only
Slide 12: Zero cost for customers to use Way2VAT
Zero cost for customers to use Way2VAT For personal use only No set up fees No license fees No risk Revenue share business model
Slide 13: Example of an enterprise client revenue model
Example of an enterprise client revenue model For personal use only $10M $6M $4M $3M $550K $100K Yearly travel After 40% After 33% Eligible for Refunded W2V fees spend flights no VAT VAT reclaim VAT to clients ~19% excluded countries ~18% excluded 5.5% 1% of travel Way2VAT budget is fees from refund
Slide 14: Business model – the process
Business model – the process Client completes For personal use only transaction leading to Tax authorities W2V receives commission and “Gross transaction volume” process claims recorded as “Cash receipt” Claims submitted to tax Refund received by W2V authorities and recognised and passed to client a
Slide 15: Leadership Team
Leadership Team For personal use only Amos Simantov Evyatar Cohen Alex Alegert Founder & CEO Chief Financial Officer CEO DevoluIVA Amir Peretz David Bermudez Elena Sorescu VP Product VP R&D CEO, Romania
Slide 16: 325+ enterprise customers and growing
325+ enterprise customers and growing For personal use only
Slide 17: Financials
Financials For personal use only 1H FY23 Financial Highlights 1H FY23 Cash Flow
Slide 18: 1H FY23 financial highlights
1H FY23 financial highlights For personal use only $1.36M 51% Net revenue in H1/23 Increase in transaction +79% on pcp volume to $11.93M 66% $3.3M Gross profit margin Trade receivables (as at 30/6/23)
Slide 19: Accelerating revenue and transaction volume run rate
Accelerating revenue and transaction volume run rate For personal use only Annual transaction volume (A$m) Revenue (A$k) 16 1600 13.47 1364 14 1400 11.93 1242 12 1200 10 1000 875 7.86 799 760 8 7.25 800 6.3 6 600 4 400 2 200 0 0 1H FY21 2H FY21 1H FY22 2H FY22 1H FY23 1H FY21 2H FY21 1H FY22 2H FY22
Slide 20: Operational cost reduction (AUD)
Operational cost reduction (AUD) For personal use only Operating expenses (A$m) Without DevoLuiIVA With DevoLuiIVA -25% 4.5 4 3.751 3.751 3.841 3.5 2.823 3 2.5 2 1.5 1 0.5 0 1H FY22 1H FY23 1H FY22 1H FY23
Slide 21: Operational update
Operational update For personal use only Grow VAT sales through European enterprise hubs: UK and Spain Spain growth harnessing DevoluIVA partners
Slide 22: Grow VAT sales through European enterprise hubs
Grow VAT sales through European enterprise hubs For personal use only Enterprise clients have grown to 325 New enterprise clients in Europe W2V secured additional multinational clients to increase the enterprise client count to 325, a 30% increase over pcp.
Slide 23: New global enterprise clients in 1HFY2023
New global enterprise clients in 1HFY2023 For personal use only Pharmaceuticals Food production Shoes Electronics Movie production Financial advisory Seafood Tourism Home security Internet services Television production While none of these individual new contracts are material in their own right, th
Slide 24: Spain growth harnessing DevoluIVA partners
Spain growth harnessing DevoluIVA partners For personal use only • All operational functions located with W2V operations in Romania to improve efficiency • Have halved the onboarding process time for new clients • Sales pipeline and recent wins supports significant revenue growth potential in 2H FY2
Slide 25: Inorganic growth - M&A in UK and Europe: Diva
Inorganic growth- M&A in UK and Europe For personal use only Diva is a success story • Added revenue and client base with a complementary product suite • Integrated product technology platform • Cost savings accelerates pathway to profitability
Slide 26: Inorganic growth - Growth opportunities via acquisition
Inorganic growth- M&A in UK and Europe For personal use only Growth opportunities via acquisition • Many competitors have outdated technology and manual processes and are struggling to rebound from the challenging COVID period. • Way2VAT believes consolidation of the sector, particularly in Europe,
Slide 27: New trends - winning RFPs with larger corporates
New trends -winning RFPs with larger corporates For personal use only While none of these individual new contracts are material in their own right, the smooth integration with existing and new partnerships enables Way2VAT to grow and strengthen its position as an automated VAT/ GST recovery solution
Slide 28: 2H FY23 Outlook – set for strong growth
2H FY23 Outlook – set for strong growth • Seasonally, Way2VAT performs better in the second half due to various tax deadlines and For personal use only financial year-ends in most EU jurisdictions • Irrespective of seasonality, transaction volume is trending upwards off an increasing client base • C
Slide 29: Thank You
For personal use only Thank You www.way2vat.com