Doxee S.p.a. · MIL:DOX
Doxee — European MidCap Event 2022 in Paris
34 slides from Doxee's conference presentation, Oct 18, 2022
Slide 1: European MidCap Event in Paris
European MidCap Event in Paris Sergio Muratori Casali CEO Paris October 18th 2022
Slide 2: We enable companies to create innovative and digital customer-facing communications
We enable companies to create innovative and digital customer-facing communications October 18th 2022 European Midcap Event
Slide 3: What we do
What we do Managing the digital transformation Doxee Platform® document experience (dx): Digital production, distribution, and digital archiving of documents Data processing paperless experience (px): Electronic invoicing, Long-term digital preservation, Company Consumers Electronic ordering, Data C
Slide 4: Doxee at a Glance H1 2022
Doxee at a Glance H1 2022 Transforming data into relationships • Doxee is a Tech-Vendor and a leading provider of products for 2001 +21% +31% 20.5% Customer Communications Revenues Contribution Margin Vop invested in R&D Management (CCM), Digital Founded from sales in H1 in €/mn in H1 Customer Exper
Slide 5: Doxee Technological Innovation
Doxee Technological Innovation MARKET VALIDATION R&D INVESTMENTS Several international IT analysts recommend Doxee in their reports Percentage of value of production per year 13% Doxee invested in R&D for more than 10 years > Tech Tide™: Creative Technologies, 2021 > IDC Marketscape: Worldwide Cloud
Slide 6: Product lines
Product lines A Unique Value Proposition THREE MAIN CLOUD-BASED PRODUCT LINES DOCUMENT EXPERIENCE PAPERLESS EXPERIENCE INTERACTIVE EXPERIENCE 65% on revenues 18% on revenues 17% on revenues Digital production, distribution, and archiving Compliant electronic invoicing and digital Personalized micro-
Slide 7: Doxee Client Base
Doxee Client Base Enterprise Customer REVENUES BY INDUSTRIES H1 2022 TELCO & MEDIA UTILITIES 2% 6% 7% 2% Automotive Financial Services 40% PS & IT Services Other BANKING AND INSURANCE PUBLIC ADMINISTRATIONS Utilities Telco & Media 42% 70% +200 Recurring Revenues Clients RELEVANT PARTNERSHIP 3 years
Slide 8: Revenues Breakdown
Revenues Breakdown 7,2 20 CORE CLIENTS (€/mln) 10,80 PRODUCT LINE GROWTH H1 2022 (€/mln) 6,0 9,13 +29% H1 2020 7,71 90% H1 2021 4,7 +14% CAGR 24% H1 2022 82% 86% 81 84% 1,8 1,8 2,0 1,8 1,2 1,3 CAGR 4% CAGR 22% H1 2020 H1 2021 H1 2022 px px +11% dxdx +20% ixix +37% BY PRODUCT LINES GEOGRAPHICAL AREA
Slide 9: Client Cases
Client Cases October 18th 2022 European Midcap Event
Slide 10: Doxee Pweb: Some cases
Doxee Pweb® Some cases October 18th 2022 European Midcap Event
Slide 11: Doxee Pvideo: Some cases
Doxee Pvideo® Some cases October 18th 2022 European Midcap Event
Slide 12: Eni gas e luce case
Eni gas e luce is the new company of Eni SpA, established in 2017 to sell BENEFITS • 50 million annual multichannel communications and CUSTOMER invoices gas, electricity, and energy solutions in the retail and business markets. The company operates in 4 countries in Europe, with 1,600 employees. • D
Slide 13: Engie case
BENEFITS • Massive volumes: 4 million videos produced CUSTOMER Engie is a French energy company that produces and distributes per year electricity, natural gas, and renewable energy. Fastweb è uno dei principali operatori • Constant monitoring and tracking of It is the world's leading independent pr
Slide 14: Groupama case
CLIENTE Groupama is an insurance provider that is part of an BENEFIT High engagement: 43% of those who received the international insurance group with more than 100 years of history video clicked play and 70% clicked on the call-to- and 13 million clients worldwide action to register on the loyalty
Slide 15: Financial Data
Financial Data October 18th 2022 European Midcap Event
Slide 16: H1 2022 Strong revenues growth and huge investments to increase scalability
H1 2022 Strong revenues growth and huge investments to increase scalability • Top line growth acceleration (+21%) • Recurrent Revenues are stable at 70% thanks to Doxee’s Unique Value Proposition. • The third release of Doxee Platform® will lead • Strong performance in all the product lines: to furt
Slide 17: Key Financials H1 2022
Key Financials H1 2022 € 11.1 mln € 14.7 mln € 8.4 mln € 3.0 mln +21% YoY +27% YoY +31.4% YoY Revenues Value of Gross Margin R&D Costs Production € 1.6 mln 10.9% € 0.1 mln € 1.9 mln EBITDA EBITDA Margin Net Income NFP (cash negative) October 18th 2022 European Midcap Event
Slide 18: Investments
Investments H1 2020 – H1 2022 ORGANIZATIONAL COST OF R&D PERSONELL STRUCTURE #121 #142 #153 3,5 0,7 6 3 0,6 +18% 5 +19% 2,5 +59% 0,5 +19% 0,58 4 3,01 4,94 2 0,4 +31% 3 0,49 4,15 1,5 0,3 +308% 2 3,48 1 1,89 0,2 1,44 0,5 0,1 1 0,12 0,11 ESG 0 0 0 H1 2020 H1 2021 H1 2022 H1 2020 H1 2021 H1 2022 H1 2020
Slide 19: Market Trends & Growth Strategy
Market Trends & Growth Strategy October 18th 2022 European Midcap Event
Slide 20: Double-digit growth for Doxee's key markets
Double-digit growth for Doxee’s key markets Doxee reference markets CCM REG-TECH DCX (Customer Communication Management) (E-Invoicing, Digital Preservation, E-Procurement) (Digital Customer Experience) $/bn $/bn 23 $/bn 11.3% 25.1% 11.8% 14,9 CAGR CAGR CAGR 8,5 3,2 7,5 1,5 2020 2021 2022 2023 2024 2
Slide 21: Pursuing the strategic roadmap
Pursuing the strategic roadmap Strengthening the organisational structure to support organic growth Huge investments to pave the way to sustainable and profitable growth on a medium-long term basis and to improve scalability: • Skilled and committed people in the commercial structure and the corpora
Slide 22: Pursuing the strategic roadmap: Strategic growth through M&A
Pursuing the strategic roadmap Strategic growth through M&A M&A in key international markets to expand in strategic industries – Telco, Utilities, Finance - and boost upselling • Integration of Infinica GmbH to entry in the DACH area and consolidate in the CEE region in the Digital Experience Sector
Slide 23: Acquisition of Infinica GmbH
Acquisition of Infinica GmbH October 18th 2022 European Midcap Event
Slide 24: Doxee acquires the 90% of Infinica GmbH
Doxee acquires the 90% of Infinica GmbH A strong strategic rationale Doxee acquires the 90% of Infinica GmbH with an option on the remaining 10%. A key step in the Doxee’s strategic roadmap to be positioned as the leading European technology and product vendor in the field of digital customer experi
Slide 25: Infinica GmbH
Infinica GmbH Leading customer communication management software platform • International customers • Customer Communication Management Infinica • International technology and Fields of • Document Composition strong partner network activities • Output Management • 30+ Software Experts • Forms Manage
Slide 26: A deal with a strong potential
A deal with a strong potential § The acquisition of Infinica’s technology will accelerate the roadmap for the new release of the Doxee TECH ADVANTAGES Platform® anticipating the time to market of new services by approximately 18 months § SalesForce certification, also distributed by the SalesForce A
Slide 27: A deal with a strong potential
A deal with a strong potential “Inbound” advantages and expected synergies cover almost half of the price paid § Doxee identified DACH and CEE regions as a green field as the digitization rate is under 70% and the e- MARKET AND invoicing compliance has not been extended yet to B2C TERRITORY § Doxee
Slide 28: Structure of the deal
Structure of the deal The acquisition by Doxee of 90% of the capital of Infinica from the current shareholders for a consideration of € 9.5 mln, has been financed in part with the Company’s own resources (around € 3.5 mln) and for the remaining part through the use of banks loans. In particular, the
Slide 29: Infinica integration
Infinica integration Path and Strategy Strategic growth in DACH and CEE regions in Telco, Utilities, Finance industries: • Upsell and Cross-sell the joint product portfolio to actual customer base • Market entry into the global Salesforce marketplace • Market entry into the Electronic invoicing mark
Slide 30: Appendix
Appendix October 18th 2022 European Midcap Event
Slide 31: Global competitive landscape
Global competitive landscape Customer Communications Paperless Personalized Video Management October 18th 2022 European Midcap Event
Slide 32: Doxee Timeline
Doxee Timeline E-billingS.p.A. is Doxee’s SaaS Doxee Doxee expands Listed on AIM Acquisition of Rebranding Acquisition of founded in Modena, business becomes a internationally Italia, the stock Littlesea Littlesea in Infinica GmbH Italy, offering launched multinational in 19 countries exchange of Ba
Slide 33: Stock & Governance
BOARD OF DIRECTORS Stock & Governance Sergio Muratori Casali Paolo Cavicchioli Doxee USA Inc (51%) Vice-president and CEO Chairman Doxee Czech Sro (100%) Doxee Slovak Sro (100%) Babelee Srl (91,4%) Giuseppe Dal Cin Paola Leoni Pier Luigi Morara Infinica GmbH (90%) Member Independent Independent Memb
Slide 34: Sergio Muratori Casali, CEO
Sergio Muratori Casali, CEO investor.relations@doxee.com Doxee Spa Viale Virgilio 48/B 41123 Modena - Italy doxee.com