Slide 1: An Introduction to FleetCor Technologies
An Introduction to FleetCor Technologies A Leading Global Provider of Fleet Cards and Specialty Payments to Businesses March 2012 Exhibit 99.1
Slide 2: Safe Harbor Provision
Safe Harbor Provision This presentation contains statements that express our opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results, in contrast with statements that reflect historical facts. In some cases, we have identified such for
Slide 3: Agenda: Company Overview
Company Overview Key Investment Highlights Growth Strategy Financial Overview Agenda
Slide 4: FleetCor – A Leading Global Fleet Card Company
Core Products Target Customers Global Scope 67% 33% Strong Performance FleetCor – A Leading Global Fleet Card Company Special-purpose business charge cards (e.g., fuel) Value proposition: control and savings Businesses and government entities with vehicles Major oils and fuel marketers with fuel car
Slide 5: Proven Track Record of Solid Financial Performance
Revenue 1 ($M) Adjusted Net Income 2 ($M) Track Record of Growth… Proven Track Record of Solid Financial Performance Revenue reported on a managed basis Adjusted net income is defined as GAAP net income + amortization (net of taxes) + stock option expense (net of taxes) is reflected on a pro forma b
Slide 6: Agenda: Key Investment Highlights
Company Overview Key Investment Highlights Growth Strategy Financial Overview Agenda
Slide 7: Significant Barriers to Entry
Proprietary Networks Differentiated Technology Broad Distribution Strong Relationships A difficult business to enter regardless of scale Downside Protection… Significant Barriers to Entry Ten networks around the world with more than 35,000 merchants contracted individually Specialized, next generati
Slide 8: An Attractive, Predictable Business Model
Recurring Revenue Diversified Revenue Highly Profitable Resulting in a business you can plan High Operating Leverage Attractive Model… An Attractive, Predictable Business Model Transaction-based Recurring, routine purchases 33% of revenues outside the U.S. in 2011 55% from customers, 45% from mercha
Slide 9: Large Global Market… Lots of Room to Grow
U.S. Europe Rest of World FleetCor Penetration Commercial Fuel Volume ¹ FleetCor Fuel Volume 1,2 We want a piece of every commercial fuel transaction on the planet Total Large Global Market… Lots of Room to Grow Gallons of commercial fuel purchased annually Year ended December 31, 2011 2008 data fro
Slide 10: Agenda: Growth Strategy
Company Overview Key Investment Highlights Growth Strategy Financial Overview Agenda
Slide 11: Big Market… Opportunity Varies By Geography
Partner Outsourcing Share Shift Increase Adoption Big Market…. Opportunity Varies By Geography Manage major oil in-house card programs Win accounts from competitors Convert businesses to fuel cards from other payment methods
Slide 12: We "Build" the Business We Own
Invest in Sales and Marketing Product Innovation Penetrate Target Markets Further Fiscal Year 2011 transactions grew 12% and revenue per transaction grew 8% We “build” the business we own by investing in sales and marketing and product innovation • Spent over $34m on sales and marketing in 2011 • Ma
Slide 13: Grow Through Strategic Acquisition
Grow Through Strategic Acquisition We Improve the Businesses We Buy We “buy” and improve performance of acquired companies • Completed over 45 acquisitions • In 2011, we completed two strategic acquisitions - Mexico Prepaid Card business - Allstar - leading UK Fuel Card provider • Focus on emerging
Slide 14: We "Partner" With Major Oil and Petroleum Marketers
Services we offer Recent partner wins We “Partner” With Major Oil and Petroleum Marketers • GFN – Industry platform • Revenue management • Full program outsourcing • Euro Shell … the world ’ s largest commercial oil portfolios in countries • Pantry … awarded new long term contract
Slide 15: An Attractive Growth Opportunity – Emphasize ROW
BIG GROWTH OPPORTUNITY Geographies Plan to focus more of our energy on emerging markets … and repeat the three-pronged approach that’s working in U.S. & Europe 1 2 3 Growth Strategy… An Attractive Growth Opportunity – Emphasize ROW US Europe Latin America Acquisitions Buy & Improve Partners Sign to
Slide 16: Agenda: Financial Overview
Company Overview Key Investment Highlights Growth Strategy Financial Overview Agenda
Slide 17: Financial Highlights
High Growth Strong Operating Leverage Strong Balance Sheet Stable and Predictable Financial Highlights 28% Revenue growth (2003 – 2011) 41% Adjusted net income growth (2003 – 2011) 49% Adjusted EBITDA margin (2011) Highly leverageable cost structure High cash flow fuels growth initiatives >$500m of
Slide 18: Driven By Both Volume and Rate Enhancement
Transaction Volume 1 (M) Revenue per Transaction 2 Strong underlying growth trends in our key metrics drive revenue growth Driven By Both Volume and Rate Enhancement 2006 transactions estimated based on 2007’s average gallons per transaction 2006 – 2010 revenue reported on a managed basis * 2010 tra
Slide 19: Well-Diversified Revenue Mix
Diverse business mix reduces top line volatility from geographic and macroeconomic factors 2011 Revenue Breakout (%) Well-Diversified Revenue Mix
Slide 20: Limited Fuel Price Exposure
Customers / Partners 2011 Revenue Revenue Type Merchant / Network Relationships Limited sensitivity to fuel price movements Fuel Price Sensitivity ~20% of revenue tied directly to fuel prices No direct impact from changes in fuel prices Limited Fuel Price Exposure 45% 55% % of spend Fixed fee Spread
Slide 21: Strong Operating Leverage with Low Credit Risk
Bad Debt as a % of Billed Revenue 2011 Expense Breakdown 1 Strong Operating Leverage with Low Credit Risk 0.45% 0.32% 0.32% 0.27% 0.23% 0.21% 0.25% 0.20% 0.21% '06- '09 Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 For the year ended December 31, 2011 FleetCor’s variable expenses were 37% of total
Slide 22: Strong EBITDA Margins and Operating Leverage
EBITDA 1 and Adjusted EBITDA Margin ($M) 49.0% 52.0% 47.0% 46.3% 49.3% Superior Operating Leverage Strong EBITDA Margins and Operating Leverage Adjusted EBITDA divided by managed revenue; Adjusted EBITDA is calculated as EBITDA adjusted for the incremental interest expense attributable to the securi
Slide 23: Solid Stable Cash Flow Generation
Adjusted Net Income 1 ($M) $(10) $10 $30 $50 $70 $90 $110 $130 $150 $170 $190 Fueling Growth Initiatives Solid Stable Cash Flow Generation $43 $71 $113 $104 $139 $182 2010* Adjusted Net Income ($M) Grow core business Pursue selective acquisitions Continue new product innovation Enter new markets $5.
Slide 24: FleetCor
SFLEETCOR
Slide 25: Reconciliation of Reported Revenue to Managed Revenue
Reconciliation of Reported Revenue to Managed Revenue Year Ended December 31, ($M) Reported Revenue $519.6 $433.8 $354.1 $341.1 $264.1 $186.2 Adjustments: Processing Expense _ _ 21.9 27.4 11.3 10.4 Interest Expense, Net _ _ 5.3 15.8 16.2 13.1 Managed Revenue $519.6 $433.8 $381.3 $384.3 $291.6 $209.7
Slide 26: Reconciliation of Net Income to EBITDA and Adjusted EBITDA
Reconciliation of Net Income to EBITDA and Adjusted EBITDA Year Ended December 31, ($M) Net income $147.3 $107.9 $89.1 $97.3 $61.6 $38.0 $30.7 Provision for Income Taxes 63.5 43.4 40.6 37.4 26.0 22.0 18.7 Interest Expense, Net 13.4 20.5 17.4 20.3 19.7 11.9 7.6 Other Income (0.6) (1.3) Depreciation a
Slide 27: Reconciliation of Adjusted EBITDA to Pro Forma Adjusted EBITDA
Reconciliation of Adjusted EBITDA to Pro Forma Adjusted EBITDA ($M) Year Ended 2010 Changes Pro forma 2010 Net income $107.9 $ (1.7) $106.2 Provision for Income Taxes 43.4 2.4 45.8 Interest Expense, Net 20.5 - 20.5 Other Income (1.3) - (1.3) Depreciation and Amortization 33.7 - 33.7 Loss on extingui
Slide 28: Reconciliation of Net Income to Adjusted Net Income
Reconciliation of Net Income to Adjusted Net Income Year Ended December 31, ($M) Net Income $147.3 $107.9 $89.1 $97.3 $61.6 $38.0 $30.7 Stock-based Compensation Expense 21.7 26.8 2.7 2.8 1.2 0.1 – Amortization of Intangible Assets 19.6 17.2 13.9 12.0 9.8 5.0 2.1 Amortization of Premium on Receivable
Slide 29: Reconciliation of Adjusted Net Income to Pro Forma Adjusted Net Income
Reconciliation of Adjusted Net Income to Pro Forma Adjusted Net Income
Slide 30: Reconciliation of Revenue Excluding Non-Renewed Contract
Reconciliation of Revenue to Revenue Excluding the Impact of a Non-Renewed Contract Year Ended December 31, ($M) North America Revenues, net $ 348.8 287.8 $ 227.4 Excluding non-renewed contract revenues - - - Revenues, net, excluding the impact of a non-renewed contract $ 348.8 $ 287.8 $ 227.4 Inter