Edenred Sa · EURONEXT:EDEN
Edenred Sa — Merger or Acquisition (October 2014)
11 slides from Edenred Sa's merger presentation, Oct 20, 2014
Slide 1: Acquisition of 34% stake in UTA
Acquisition of 34% stake in UTA Conference call October 20, 2014
Slide 2: A key strategic step in Expense management
A key strategic step in Expense management A unique opportunity to enter the Fuel & Fleet market in Europe, through the two-stage acquisition of a controlling interest in UTA(1), a leading European player in the Heavy Fleet segment present in 40 countries A strategic step to turn Expense managem
Slide 3: UTA's unique selling proposition in the Heavy Fleet segment
UTA’s unique selling proposition in the Heavy Fleet segment Key differentiating factors A large network in Europe Unique Europe-wide coverage: # countries # fuel stations an integrated network of 34,000 service stations and access to toll 40 34,000 systems(1) Value-added services: VAT 42 39,000
Slide 4: UTA's special offer in partnership with Daimler
UTA’s special offer in partnership with Daimler MercedesServiceCard 49% UTA Daimler 51% Joint Venture Toll and service Offer of 2 Mercedes Access to stations branded cards: Mercedes-Benz network • For fuel and tolls, with special truck Card fuel discounts customers processing • For Mercedes-Be
Slide 5: UTA's key metrics for 2013
UTA’s key metrics for 2013 Key figures Business model >60,000 clients Take-up rate of around 2.1% >500,000 active cards Clients €3.1bn in issue volume: Road assistance 47% 53% 2% Merchants Toll 37% Fuel 61% Ebitda margin: ~35% 70% of volume in Germany No float Solid business with strat
Slide 6: Strong synergies to enhance growth
Strong synergies to enhance growth Heavy Fleet Light Fleet Speed up the development of Launch new UTA Light Fleet UTA solutions in Central and solutions backed by Eastern Europe, Edenred’s existing by leveraging Edenred platforms in Europe presence in 7 countries (nearly 1,200 salespeople in the reg
Slide 7: A deal structure enabling further value creation
A deal structure enabling further value creation Ownership structure A 3-step approach post closing Daimler 2014- Acquisition of a 34% stake 2015 owned by BP 15% Two 2015- Synergies implementation founding 51% 2017 in pilot countries families 34% 2017- Call to buy a 17% stake (Eckstein and Van Dedem
Slide 8: A value creative transaction
A value creative transaction Key metrics Consolidation Acquisition of a 34%-stake for Reporting of 34% of UTA net ~€150m (1) income as a share of income Valuation: ~14x PE (2) in the P&L and as dividends received in FFO Call option for a 17%-stake exercisable from 2017 to 2019 Accretive to
Slide 9: A compelling strategic transaction
A compelling strategic transaction ~€300bn spent on fuel in Europe across the Heavy and Light fleet segments Attractive Significant growth potential in a market with low penetration of multi-brand market card issuers UTA, A leading player in the Heavy Fleet segment, with a multi-brand card Eur
Slide 10: Appendice
Appendice Titre du document - date - Arial regular 8pts 10
Slide 11: European Fuel & Fleet market
European Fuel & Fleet market Heavy Fleets Light Fleets OTR – Over the Road Cars Trucks >3.5t, Buses, Coaches Light Commercial Vehicles <3.5t >11 m vehicles >60 m vehicles >60 bn liters of fuel >150 bn liters of fuel €80 bn spent on fuel €220 bn spent on fuel An attractive market with sig