Slide 1: 2014 Annual Results Presentation
Presentation1 Agenda Page [PRESENTATION TITLE] April 2015 STRICTLY PRIVATE AND CONFIDENTIAL 2014 Annual Results Presentation [CLIENT NAME] May 5th, 2015
Slide 2: Disclaimer
Disclaimer This document is being presented solely for informational purposes and should not be treated as giving investment advice. It is not intended to be (and should not be used as) the sole basis of any analysis or other evaluation. All and any evaluations or assessments stated herein represent
Slide 3: Agenda
Agenda Topic Presenter Introduction Rocket Internet CEO – Oliver Samwer Taking Global Online Takeaway Group to the Next Rocket Internet CEO – Oliver Samwer Level Proven Winners Annual Results Rocket Internet CFO – Peter Kimpel Update Emerging Stars Rocket Internet CFO – Peter Kimpel Update Regional
Slide 4: Introduction
“gf ROCKETINTERNET Introduction
Slide 5: Introduction – Key Achievements 2014
Introduction – Key Achievements 2014 Key Achievements Strong Performance Average volume weighted net revenue growth of 82%(1) of Proven Winners Average volume weighted GMV growth of General Merchandise companies of 205%(1) Strongest revenue growth of 380% by HelloFresh Average adjusted EBITDA margin
Slide 6: Introduction – Key Achievements 2014 (cont’d)
Introduction – Key Achievements 2014 (cont’d) Key Achievements Simplification of Creation of Global Fashion Group Portfolio Structure Creation of Global Online Takeaway Group (“GOTG”) Launch of 10 New Companies Continued Build-out 60+ new IT engineers hired in H2 2014 of Rocket Platform New headquar
Slide 7: Taking Global Online Takeaway Group to the Next Level
Taking Global Online Takeaway Group to the Next Level
Slide 8: Acquisition of Yemeksepeti and e-Food by Delivery Hero
Acquisition of Yemeksepeti and e-Food by Delivery Hero 100% Global Online Takeaway Group 50% 40%(1) 100% 100% (Emerging (Various) (Spain) (Italy) Markets) 100% 100% 100% Note: Recent transactions shown are subject to closing (1) On a fully diluted basis 7
Slide 9: The Acquisition of Yemeksepeti and e-Food Brings GOTG to the Next Level
The Acquisition of Yemeksepeti and e-Food Brings GOTG to the Next Level Ann. orders(1) (m) 120 36 84 GOTG GOTG pre Yemeksepeti post Yemeksepeti and e-Food and e-Food Source: Unaudited foodpanda, Delivery Hero, Pizzabo, Talabat, Yemeksepeti, e-Food and LaNeveraRoja information; Global Online Takeaway
Slide 10: Building the Global Leader in Online Takeaway in less than 6 Months
Building the Global Leader in Online Takeaway in less than 6 Months January May 2015 2015 Acquisition of Yemeksepeti and e-Food by Delivery Hero Acquisition and Increased stake in contribution of stake Delivery Hero to 40% in Talabat to increase stake in Delivery Hero to c.39% (also Acquisition of c
Slide 11: Global Leader in the Online Takeaway Market
Global Leader in the Online Takeaway Market 24 90k 5.8m 63m countries restaurants(2) users in H2 14 ann. orders(3) 39 countries(1) 8 9.2k+ 3.5m 33.8m countries restaurants(2) users(4) ann. orders(3) #1 in 31 countries 1 2.2k+ 0.1m 2.2m country restaurants(2) users ann. orders(3) c.46k restaurants(2)
Slide 12: Global Online Takeaway Group – Leader in Online Takeaway Globally
Global Online Takeaway Group – Leader in Online Takeaway Globally $ 71 59 153k 120m >€1bn countries(1) no. 1 countries Restaurants(2) ann. orders(3) GMV Source: Unaudited foodpanda, Delivery Hero, Pizzabo, Talabat, Yemeksepeti, e-Food and LaNeveraRoja information (management accounts) Notes: foodpan
Slide 13: Present in 71 Countries and No.1 in 59
Present in 71 Countries and No.1 in 59 #1 #2 foodpanda(1) Delivery Hero(2) Yemeksepeti e-Food La Nevera Roja Pizzabo Notes: Market position based on number of orders and web traffic; foodpanda figures are pro forma for acquisitions (1) 10 African countries (Ghana, Ivory Coast, Kenya, Morocco, Nigeri
Slide 14: Capturing the Largest and the Most Attractive Markets
Capturing the Largest and the Most Attractive Markets… Population Nominal GDP Internet penetration(1) (m) ($bn) (%) 5,453 44,496 80.9% 65.7% 20,377 35.2% 17,826 642 383 Global Global Global Online Online Online Takeaway Takeaway Takeaway Group Group Group Source: IMF, BMI Notes: (1) Calculated as nu
Slide 15: ... as the Largest Company in the Sector
... as the Largest Company in the Sector Countries of Takeaway restaurants Orders operation(1) (‘000s) (m) Pre Yemeksepeti / e-Food Post Yemeksepeti / e-Food 8% 4% 71 153(2) 68 120(3) 142(2) 43% 86(6) 84(3) 67(5) 46(4) 13 35 2 Global Global Global Online Online Online Takeaway Takeaway Takeaway Grou
Slide 16: Rocket Only Shareholder to Protect and Increase Ownership Position
Rocket Only Shareholder to Protect and Increase Ownership Position Rocket transaction overview Contribution of Yemeksepeti 11.4% Shares in Delivery Hero shareholding Cash €61.3m Shares in Delivery Hero Fully diluted Rocket 40% ownership in Delivery Hero 15
Slide 17: Significant Value Creation in Online Takeaway
Significant Value Creation in Online Takeaway Valuation of Delivery Hero post Yemeksepeti & e-Food transactions Valuation of Delivery Hero €2.4bn pre Yemeksepeti & e-Food transactions €1.9bn LPV and LPV uplift of Rocket’s stake in Delivery Hero ~€975m ~€175m 40% Rocket Total investment stake ~€800m
Slide 18: Yemeksepeti – Market Leader in Turkey
Yemeksepeti – Market Leader in Turkey
Slide 19: Yemeksepeti Leadership
Yemeksepeti Leadership Nevzat Aydin CEO/Founder Pioneer in online delivery market “Fortune’s 40 under 40, #1 Businessman of the year” (2013 Fortune Magazine Turkey) “Most Successful Turkish Young Entrepreneur” (CNBC - eBusiness magazine in 2010) Born in 1976 in Istanbul, launched Yemeksepeti in 2001
Slide 20: Online Penetration in Europe and Developing Markets, in Particular Turkey
Online Penetration in Europe and Developing Markets, in Particular Turkey, with Significant Upside eCommerce penetration(1) 14% Eastern Europe 3.3% 6.7% Western Europe 6% 2.3%(4) 6.3%(2) 3% 14.2% 2% 1.6%(1) 11.0% 6.1% US Western Emerging Turkey 1.5% Europe(2) Markets 0.7% (ex China)(3) 3.2% 6.8% 2.3
Slide 21: Yemeksepeti – At a Glance
Yemeksepeti – At a Glance 8 No.1 63 9.2k 3.5m 33.8m countries Leader cities restaurants(1) users(2) ann. orders(3) in Turkey Source: Unaudited Yemeksepeti information (management accounts) Notes: Includes international business (1) As of December 2014 (2) Based on December 2014 visits (3) December 2
Slide 22: Best-in-Class Track Record
Best-in-Class Track Record Turkey only GMV (TLm) 729(1) 31.8(1) Total orders (m) 565 25.1 2015 Finalized 2014 acquisition 401 18.7 Launched of ifood.jo in 311 15.2 FOC in Jordan 2013 Saudi Launched Arabia 2012 FOC in Investment 2009 Qatar, from Launched Oman and 2008 General 2001 FOC in Lebanon Inve
Slide 23: Clear No.1 Position in Turkey with Growing Presence in Middle East
Clear No.1 Position in Turkey with Growing Presence in Middle East Turkey Focus on significant market opportunities Lebanon Focus on significant market opportunities Building Oman global leaders Focus on significant market opportunities Building global leaders Saudi Arabia Focus on significant Incre
Slide 24: Turkey Has Highly Attractive Macro Fundamentals
Turkey Has Highly Attractive Macro Fundamentals $ $ $ US$672bn 76m US$10,560 35m US$3.1bn GDP total population GDP per capita Internet users eCommerce (+3% real growth) (46% penetration)(1) (+25% growth) Source: EIU, Euromonitor, Internet Live Stats Notes: (1) Percentage of the population using the
Slide 25: Turkey Offers Significant Growth Potential
Turkey Offers Significant Growth Potential Online Retail Yemeksepeti Footprint in Core Market Turkey (as % of total) (present in 63/81 cities) USA 14% UK 11% Russia 3% Brazil 3% Turkey 2% India 1% Source: Morgan Stanley Research Estimates, Euromonitor, eMarketer, Forrester, National Government Data
Slide 26: Many Restaurant Chains Are Actively Expanding in Turkey
Many Restaurant Chains Are Actively Expanding in Turkey Domino’s Focus on aims to reach 600 significant restaurants market by the end of 2016 opportunities Building global leaders Yum Brands Focus has recently acquired on significant marketMaster Franchise of KFC / opportunities Pizza Hut and intend
Slide 27: Yemeksepeti Is by a Long Margin the Dominant Market Leader
Yemeksepeti Is by a Long Margin the Dominant Market Leader ... Online Food Marketplaces March 15 Website Rank Yemeksepeti.com 69 Acıkınca.com 13,709 Uniyemek.com 33,802 Bolbol.com 4,379 Adreseyemek.com 7,306 Neyiyelim.com 55,645 … commanding 95-100% of multi-restaurant marketplaces Source: Euromonit
Slide 28: Yemeksepeti – a Valuable Brand
Yemeksepeti – a Valuable Brand Turkey Interest over time (Last 18 months) July 2013 – December 2014 Yemeksepeti + yemek sepeti + yemeksepeti.com Pizza Burger Average Oct-2013 Jan-2014 Apr-2014 Jul-2014 Oct-2014 UK (Last 18 months) US (Last 18 months) July 2013 – December 2014 July 2013 – December 20
Slide 29: Free Traffic Represents 94% of all Yemeksepeti Traffic
Free Traffic Represents 94% of all Yemeksepeti Traffic Source of orders Paid traffic 6% Free traffic 94% 2014 Source: Unaudited Yemeksepeti information (management accounts) 28 28
Slide 30: Outstanding Operating Performance in Turkey
Outstanding Operating Performance in Turkey ... Restaurants (‘000) Orders/active Users (m) Total orders (m) restaurant Monthly(1) 9.2 3.2 +38% +34% 25.1 306 +17% +15% 2.3 18.7 7.9 265 2013A 2014A 2013A 2014A 2013A 2014A 2013A 2014A >9,200 restaurants in 2014 >300 orders/restaurant in >3.2m users in
Slide 31: Combined with Strong Growth of Financial KPIs
… Combined with Strong Growth of Financial KPIs GMV Revenues EBITDA (TLm) (TLm) (TLm) 565 / €195 +41% 53 / €18 26 / €9 +47% +69% 2013A 2014A 2013A 2014A 2013A 2014A >TL560m GMV in 2014 ~TL53m revenues in 2014 ~TL26m EBITDA in 2014 Source: Unaudited Yemeksepeti information (management accounts) Note:
Slide 32: Highly Attractive Margins
Highly Attractive Margins EBITDA margin Turkey 48% 42% 2013A 2014A Source: Unaudited Yemeksepeti information (management accounts) 31
Slide 33: Yemeksepeti Shows Superior Profitability
Yemeksepeti Shows Superior Profitability ... EBITDA Margin 48% 40% 32% 2014A 2014A Q1 2015 (Turkey) (UK) Source: Unaudited Yemeksepeti information (management accounts), JustEat and GrubHub company filings (JustEat: based on “Underlying EBITDA”; GrubHub: based on “Adjusted EBITDA”) 32
Slide 34: ... and Growth in Line with Peers
... and Growth in Line with Peers Revenues CAGR 2012-14 56% 62% 46% (All Countries) (Consolidated) Source: Unaudited Yemeksepeti information, JustEat and GrubHub company filings 33
Slide 35: Turkey Key KPIs for Jan and Feb Show Continued Strong Growth
Turkey Key KPIs for Jan and Feb Show Continued Strong Growth Orders GMV Core commission (m) (TLm) revenue (TLm) 36% 45% 118.0 4.4 4.9 48% 3.6 81.5 2.9 Jan-Feb Jan-Feb Jan-Feb Jan-Feb Jan Jan 2014 2015 2014 2015 2014 2015 Source: Unaudited Yemeksepeti information (management accounts) 34
Slide 36: Multiple, Growing Revenue Streams
Multiple, Growing Revenue Streams 72% of revenue generated through consumer orders Partnerships Focus on significant market opportunities Joker Focus on significant market opportunities • Special discounts and ad 7% 1% • Customer acquisition tool for Building spaceglobal leaders Building global lead
Slide 37: Creation of the Market Leader in the Middle East
Creation of the Market Leader in the Middle East
Slide 38: Middle East – Highly Attractive Market
Middle East – Highly Attractive Market €3.4tn+ 5% 370m+ €9,170+ 151m+ GDP(1) Annual GDP Population GDP per Internet users growth ‘13-18 Capita(1) Source: IMF, Business Monitor International Notes: Excluding Syria and Cyprus; GDP, Population and Internet users as of 2014E (1) Converted at EUR/USD = 1
Slide 39: Middle East – Creating the Market Leader through Organic Growth and M&A
Middle East – Creating the Market Leader through Organic Growth and M&A Middle East(1) Middle East(2) 3 countries 6 countries 6 countries Focus on significant market opportunities Focus on significant market opportunities Focus on significant market opportunitie 1,560+ restaurants 1,400+ restaurants
Slide 40: Creation of Market Leader in the Middle East
Creation of Market Leader in the Middle East 4,700+(1) 1m 7.4m(2) restaurants registered ann. orders users Source: Unaudited foodpanda, Talabat and Yemeksepeti information (management accounts) (1) As of December 2014; (2) Based on December 2014 39
Slide 41: Creation of the Leader in the Regional Food Takeaway Market
Creation of the Leader in the Regional Food Takeaway Market Strong, complementary Focus on significant market opportunities presence in the Middle East Particularly strong position in Focus on significant market opportunities Building attractive global marketsleaders with high expatriate populations
Slide 42: Global Online Takeaway Group
Global Online Takeaway Group Onlineontakeaway Focus market–opportunities significantmarket one of the biggest online opportunities Building global leaders Building Focus out the global on significant market market leader with acquisitions of opportunities Yemeksepeti and e-Food by Delivery Hero Incr
Slide 43: Proven Winners Annual Results
Proven Winners Annual Results
Slide 44: Proven Winners with Significant Increase in Revenue/GMV Generation
Proven Winners with Significant Increase in Revenue/GMV Generation €140m €1,559m(1) €343m €270m €61m €744m(1) 2013A Food & Grocery Fashion General Merchandise Home & Living 2014A Source: Respective company’s unaudited consolidated financial statements based on IFRS and management reports Notes: Base
Slide 45: Continued Strong Growth Across All Proven Winners
Continued Strong Growth Across All Proven Winners Net revenue / GMV Growth 2013-2014 839% 380% 215% 305% 172% 136% 107% 110% 84% 82% 76%(1) 70% 73% 66% 41% Overall Overall Pro-forma Weighted weighted combined average(1) average(2) General Food & Grocery Fashion Home & Living Merchandise Source: Resp
Slide 46: Strong EBITDA Margin Improvement as Proven Winners Scale
Strong EBITDA Margin Improvement as Proven Winners Scale Average Average (56%) (34%) Adj. EBITDA Margin FY 2014 n/m Adj. EBITDA Margin FY 2013 (17%) (36%) (35%) Adj. EBITDA Margin(1) (48%) Percentage Point (23%) Improvement (37%) 21pp (56%) FY2014 / FY2013 (68%) (3%) (70%) (58%) (90%) (38%) (1) (62%
Slide 47: LPV Update as of End of April 2015
LPV Update as of End of April 2015 €bn 1.4 6.0 +€2.0bn Since IPO +€2.0bn 0.2 4.6 +€1.1bn +€0.1bn 0.2 0.6 DH, NR, PB(1) 0.1 0.3 3.2 Proven Emerging Concepts Regional Strategic Other Total LPV Cash Total LPV Winners Stars Internet Groups Participations Investments (April 15) + cash Notes: (1) Delivery
Slide 48: LPV Distribution by Geography
LPV Distribution by Geography LPV split Russia & CIS Middle-East 4% 2% Africa 4% Global Online Europe Takeaway Group 6% 30% Others 9% LatAm 10% International 21% Asia-Pacific 14% Source: Company information Notes: International includes Westwing, Home24, HelloFresh, CupoNation, Wimdu, Helpling; Glob
Slide 49: LPV Distribution by Sector
LPV Distribution by Sector LPV €bn 1.8 2% 2% 4% 8% 38% 9% Total LPV 12% 13% 13% 0.6 0.6 0.6 0.4 0.4 0.2 0.1 0.1 Travel Marketplace Financial General Others Home & Living Regional Fashion Food & Grocery Technology Merchandise Internet Groups Source: Company information Note: Fashion includes Dafiti,
Slide 50: Delivery Hero Maintains Strong Growth Trajectory in 2015
Delivery Hero Maintains Strong Growth Trajectory in 2015 Orders GMV (m) (€m) Quarterly Quarterly 39 657 Already 65% of Already 69% of H2 2014 H2 2014 17 295 304 +201% 16 +240% 98 5 2013A 2014A Q1 2014A Q1 2015A 2013A 2014A Q1 2014A Q1 2015A Source: Unaudited Delivery Hero information (management acc
Slide 51: foodpanda
foodpanda Key Financials and KPIs Pro Forma Key Highlights 2014 FY FY Increasing importance of mobile with 8m mobile €m 2013 2014 app downloads and 39% of all orders coming from GMV (€m) 6.5 116.7 mobile devices % YoY growth n/m Key partnerships: Agreements with leading Net Revenues 0.7 6.7 messagin
Slide 52: HelloFresh
HelloFresh Key Financials and KPIs Key Highlights 2014 FY FY H2 H2 Nationwide coverage in US since September €m 2013 2014 2013 2014 Net revenues 14.6 70.1 n/a 47.8 Opening of two additional fulfillment facilities in San Francisco (CA) and Fort Worth % growth 379.9% (TX) Adj. EBITDA(1) (5.2) (11.9) n
Slide 53: Global Fashion Group
Global Fashion Group $ 27 >€1bn >9m 19m markets GMV customers orders Source: Unaudited company information Note: All KPIs are for FY 2014; total customers excluding Jabong 52
Slide 54: Global Fashion Group
Global Fashion Group 2014 Net revenue €m 628 (1) (1) 190 186 117 (1) 100 (1) 34 Pro-forma combined (2) (2) (2) (2) BRL 592m RUB 9,496m INR 8,114m AED 168m Source: Respective company’s unaudited consolidated financial statements based on IFRS and management reports Notes: (1) Converted to EUR using 1
Slide 55: Dafiti
Dafiti Key Financials and KPIs Key Highlights 2014 FY FY H2 H2 Continued investment in logistics BRLm 2013 2014 2013 2014 infrastructure and fulfillment Net revenues 419.3 592.2 230.5 331.2 % growth 41.2% 43.7% Successful implementation of SAP Gross profit 143.0 222.4 74.4 120.0 Significant diversif
Slide 56: Lamoda
Lamoda Key Financials and KPIs Key Highlights 2014 FY FY H2 H2 Expansion of brands portfolio by adding key RUBm 2013 2014 2013 2014 high street brands such as Lacoste, Adidas and Net revenues 5,150.0 9,496.2 3,354.8 5,693.7 Dorothy Perkins % growth 84.4% 69.7% Gross profit 2,038.2 3,879.1 1,265.8 2,
Slide 57: Jabong
Jabong Key Financials and KPIs Key Highlights 2014 CY CY H2 H2 Significant expansion of brand portfolio INRm 2013 2014 2013 2014 including Mango, G-star Raw, Dorothy Perkins Net revenues 3,442.9 8,114.1 2,309.8 4,867.7 and others as well as product lines designed by % growth 135.7% 110.7% leading Bo
Slide 58: Namshi
Namshi Key Financials and KPIs Key Highlights 2014 FY FY H2 H2 Expansion of warehouse facility and own last AEDm 2013 2014 2013 2014 mile delivery service Net revenues 53.2 167.7 33.9 107.8 % growth 215.2% 218.1% Rebranding of the Namshi site Gross profit 24.3 91.0 14.4 59.7 Relaunch of mobile apps
Slide 59: Zalora
Zalora Key Financials and KPIs Key Highlights 2014 FY FY H2 H2 Expansion of brand portfolio, in particular €m 2013 2014 2013 2014 introduction of private labels Zalora and Zalia Net revenues 68.8 117.3 n/a 73.5 % growth 70.5% Scaling up of the marketplace model, offering Gross profit 26.3 40.0 n/a 2
Slide 60: Lazada
Lazada Key Financials and KPIs Key Highlights 2014 FY FY H2 H2 Active marketplace merchants increasing $m 2013 2014 2013 2014 significantly to approximately 10,000 in GMV 94.8 383.8 59.5 274.2 December 2014 as key driver of growth % growth 304.8% 361.0% Net revenues 75.5 154.3 n/a 89.7 Expansion of
Slide 61: Linio
Linio Key Financials and KPIs Key Highlights 2014 FY FY H2 H2 Expansion of fulfillment by last mile delivery €m 2013 2014 2013 2014 and partnering with local logistics carriers GMV 61.5 127.4 39.7 88.2 % growth 107.2% 122.5% Introduction of 3rd party fulfillment program Net revenues 47.9 61.9 n/a 40
Slide 62: Jumia
Jumia Key Financials and KPIs Key Highlights 2014 €m FY FY H2 H2 Triple-digit growth rate driven by: 2013 2014 2013 2014 34.7 94.5 23.4 64.3 Expansion into four new countries (Cameroon, GMV % growth 172.0% 174.6% Ghana, Tanzania and Uganda) Net revenues 29.0 61.8 n/a 41.0 Massive effort for Black Fr
Slide 63: Home24
Home24 Key Financials and KPIs Key Highlights 2014 FY FY H2 H2 Geographic expansion into Italy €m 2013 2014 2013 2014 Net revenues 92.8 160.1 n/a 100.7 Launch of a new online shop in Q2 % growth 72.5% 36.2 58.9 n/a 34.2 Expansion of logistics infrastructure by Gross profit opening new warehouses in
Slide 64: Westwing
Westwing Key Financials and KPIs Key Highlights 2014 High level of customer loyalty FY FY H2 H2 €m 2013 2014 2013 2014 Scaling of marketing and successful Net revenues 110.4 183.3 n/a 107.2 introduction of TV advertising % growth 66.1% Gross profit 44.9 79.3 n/a 46.6 Investment in fulfillment capaci
Slide 65: Update Emerging Stars
“gf ROCKETINTERNET Update Emerging Stars
Slide 66: Emerging Stars – Marketplace: Helpling
Emerging Stars – Marketplace Helpling 78 143 248 days days days From idea To launch in additional To go global to launch 4 EU countries Sep-Dec 2014 Goes global with launch in Sao July-August 2014 Paulo, Brazil 10,000th apartment Go live achieved in May-June 2014 cleaned Spain and Canada Expands out
Slide 67: Emerging Stars – Marketplace: Helpling
Emerging Stars – Marketplace Helpling Key metrics Key Highlights 2014 (’000s) H1 2014 H2 2014 Successful launch within less than 3 months Gross Transaction Volume (€) 184 2,947 International expansion to Austria, Sweden, Netherlands, France, Spain, Canada and Brazil Total hours booked 14 213 Introdu
Slide 68: Emerging Stars – Travel
Emerging Stars – Travel Description Key Metrics Leading European travel inspiration platform FY FY (‘000) 2013 2014 Offers curated travel packages including daily deals, short trips, city trips and family GTV (€m) 37.3 95.6 holidays for the mid market % growth 156.3% Founded in 2010; now present in
Slide 69: Emerging Stars – Fintech
Emerging Stars – Fintech Description Key Metrics H1 H2 Connects private borrowers and investors by 2014 2014 creating a transparent marketplace for loans Number of loans newly 252 874 issued Founded in 2013 Total loan applications 29,053 55,131 received Total unique visitors (k) 717 778 H1 H2 Online
Slide 70: Emerging Stars – eCommerce
Emerging Stars – eCommerce Description Key Metrics CY CY Leading online shopping platform for home & (‘000) 2013 2014 living goods in India GMV (INRm) 369.1 828.8 65k products from 500 brands across 50 124.5% % growth categories Total orders 187 434 3rd party delivery and after-sales network, servin
Slide 71: Emerging Stars – Marketplaces
Emerging Stars – Marketplaces Description Key Metrics FY FY Offers coupons and vouchers from leading 2013 2014 online retailers Gross transaction volume (€m) 7.3 80.4 Operates in 15 countries across Europe, CIS, Total transactions (k) 248 1,569 Latin America and Asia-Pacific Active retailers 2,036 1
Slide 72: Rocket Financial Performance on Track
Rocket Financial Performance on Track Significant growth of Proven Winners on average of 82%(1) up to c.400% Significant adjusted EBITDA margin improvement on average of 21pp(2) Significant LPV uplift Continued diversification of LPV both by: Geography Sectors Source: Unaudited company information N
Slide 73: Update Regional Internet Groups
Update Regional Internet Groups
Slide 74: AIG – At a Glance
AIG – At a Glance 23 822 90% 7 44 78 of total African operations countries population (in m) companies operations in total GDP launched in 2014 Morocco Algeria Tunisia Egypt Senegal Leading commerce platform 12 countries Leading C2C marketplace 17 countries Ethiopia Leading online takeaway 10 Uganda
Slide 75: AIG has Significantly Expanded Its Footprint
AIG has Significantly Expanded Its Footprint 78 34 23 14 4 6 7 7 2 2012 2013 2014 # of companies # of countries # of operations Number of >570 >1,300 >2,700 (2) employees (1) Population in live countries >300m >600m >800m Note: Company logo represents the launch (1) Total number of full time employe
Slide 76: AIG is Present in the Most Promising African Countries
AIG is Present in the Most Promising African Countries 23% AIG countries: 77% 16/20 Target Population 822 million AIG is present in 16 out of the top 20 most African populous countries 8% AIG countries: 92% 17/20 Target Internet Users 252 million AIG is present in 17 out of the top 20 African countr
Slide 77: Market Leadership in All Key African Countries
Market Leadership in All Key African Countries Population GDP (m) (USD m) Nigeria 179 546 #1 #1 #1 #1 #1 #1 #1 South Africa 53 411 #1 Egypt 86 269 #2 #1 Algeria 38 212 #1 #1 #1 #1 Angola 22 145 #1 #1 Morocco 33 114 #1 #1 #1 #1 Kenya 46 58 #1 #1 #1 #1 #1 #1 Ethiopia 93 54 #1 #1 #1 Ghana 27 53 #1 #1 #
Slide 78: Market Leadership in All Key African Countries
Market Leadership in All Key African Countries Population GDP (m) (USD m) Cameroon 23 32 #1 #1 #1 #1 #1 Zambia 15 28 #1 #1 Uganda 39 25 #1 #1 #1 #1 #1 Gabon 2 21 #1 #1 Mozambique 24 19 #1 #1 Congo- Brazzaville 4 17 #1 #1 Senegal 14 16 #1 #1 #1 #1 Zimbabwe 13 14 #2 Mauritius 1 14 #2 Madagascar 24 12
Slide 79: APACIG – At a Glance
APACIG – At a Glance 15 1,049 4.6tn 12 15 43 operations countries population (in m) addressable GDP companies operations in total launched in 2014 Countries Pakistan Leading C2C marketplace 6 Leading consumer goods retailer 3 Leading vehicle classifieds 7 Leading real estate classifieds 6 Nepal Myan
Slide 80: Asia Pacific Internet Group – Carmudi Car Classifieds
Asia Pacific Internet Group – Carmudi Car Classifieds $ 7 $1,933bn 3 150k 2m markets addressable no.1 market positions listings online visits/month GDP Source: Unaudited Carmudi information, IMF Note: Markets include Indonesia, Philippines, Pakistan, Vietnam, Bangladesh, Sri Lanka and Myanmar 79
Slide 81: Asia Pacific Internet Group – Lamudi Property Classifieds
Asia Pacific Internet Group – Lamudi Property Classifieds $ 6 $1,747bn 3 300k 850k markets addressable no.1 market positions listings online visits/month GDP Source: Unaudited Lamudi information, IMF Note: Markets include Indonesia, Philippines, Pakistan, Bangladesh, Sri Lanka and Myanmar 80
Slide 82: Latin America Internet Group – At a Glance
Latin America Internet Group – At a Glance 13 538 5.5tn 6 21 countries population (in m) addressable GDP companies operations in total Mexico Leading taxi hailing platform 13 Costa Rica Colombia Venezuela Leading vehicle classifieds 1 Panama Ecuador Brazil Leading real estate classifieds 2 Peru Boli
Slide 83: Easy Taxi is the Leading Taxi App in Latin America
Easy Taxi is the Leading Taxi App in Latin America c.6m 18m 317k rides per month user base registered drivers Source: Unaudited Easy Taxi information 82
Slide 84: MEIG – At a Glance
MEIG – At a Glance 6 54 1.6tn 6 7 12 operations countries population (in m) addressable GDP companies operations in total launched in 2014 Leading taxi hailing platform 3 Jordan Leading vehicle classifieds 3 Leading real estate classifieds 3 Leading commerce platform 1 Kuwait Leading household servi
Slide 85: Highlights Strategic Participations
Highlights Strategic Participations
Slide 86: Highlights – Strategic Participations
Highlights – Strategic Participations Description Online platform for asset-backed lending Offers fast and efficient loans against assets including fine art, antiques, jewelry, luxury watches etc. Founded in 2009 Delivery of carefully sourced and nutritionist-approved snacks Subscription model 5 pre
Slide 87: Rocket Internet – Summary of 2014 Results
Rocket Internet – Summary of 2014 Results
Slide 88: Annual Results Rocket Internet – Consolidated Financials
Annual Results Rocket Internet – Consolidated Financials Key Financials Key Highlights 2014 FY FY €m Increase in sales driven by higher service 2013 2014 revenues and topline growth of fully consolidated Sales 72.5 104.0 eCommerce companies Tricae and Kanui % growth 43.4% EBIT significantly lower du
Slide 89: Platform Update
“gf ROCKETINTERNET Platform Update
Slide 90: Platform Update
Platform Update New Headquarters in 2016 Platform New building to offer office space of 22,000 square 60+ additional IT experts in H2 2014 metres Key focus on mobile development Will host all Rocket Internet departments as well as Set up of new payment platform “MePay” companies from Rocket’s global
Slide 91: MePay – Full Payment Ecosystem
MePay – Full Payment Ecosystem Solution Payment Networks Card & eWallet Acquirer Issuer Tech Platform Merchant Licenses Service Customers IP Patents Provider Money In Money Out Merchants (cash) 90
Slide 92: MePay – Wallet Solution for the Unbanked and Uncarded Customers
MePay – Wallet Solution for the Unbanked and Uncarded Customers Online Offline Online Purchases Debit Card Purchases Domestic Remittance Bills Payment/Presentment International Remittance ATM Capabilities Consumer Credit/Instalment Pay Exclusive Loyalty Global P2P Transfers Promotions Programs 91
Slide 93: MePay – Superior Value Proposition for Merchants
MePay – Superior Value Proposition for Merchants Access to the Rocket-PLDT Best-in-class un-banked/un-carded ecosystem of tested proprietary platform consumers customer base $ Acquiring Payment processing Escrow services Merchant financing Corporate services 92
Slide 94: MePay – Significant Global Partnerships
MePay – Significant Global Partnerships Issuing & Acquiring Messaging Financial Services (in progress) International Remittance Corporate Backing 93
Slide 95: 2015 Update and Outlook
“gf ROCKETINTERNET 2015 Update and Outlook
Slide 96: Update 2015 – We Continue the Pace
Update 2015 – We Continue the Pace Key Achievements Consolidation as global leader Build-out of Global 40% stake in Delivery Hero (on a fully diluted basis) Online Takeaway Group Build-out of direct ownership stake in foodpanda Already significant LPV uplift achieved Roll-up complete Global Fashion
Slide 97: Update 2015 – We Continue the Pace (Cont’d)
Update 2015 – We Continue the Pace (Cont’d) Key Achievements Change of legal form to Societas Europaea to reflect Change of Legal Form international nature of Rocket Internet to SE Secure infrastructure for continued build-out Creation of emerging market payment company with PLDT Rocket Platform Str
Slide 98: Lazada – Largest eCommerce Platform in South East Asia
Lazada – Largest eCommerce Platform in South East Asia
Slide 99: The Online Destination Site across South East Asia
Our mission THE ONLINE DESTINATION SITE across South East Asia for customers & brands Nov 21, 2014 “ECommerce startup Lazada is moving quickly in its quest to become South East Asia’s Amazon.” Dec 30, 2014 “Lazada is a company that is expanding so fast in the region it is hard to keep up.” The Econo
Slide 100: Lazada at-a-glance
Lazada at-a-glance COMPANY OVERVIEW LAZADA PRESENCE1 • The online destination site in South East Asia China Lazada B2C eCommerce market position – Launched in Indonesia, Malaysia, Philippines, Thailand & HK / Shenzhen Vietnam in March 2012 Sourcing hub ~40 FTEs (15 operations) – Launched Singapore i
Slide 101: South East Asia eCommerce presents a massive, underpenetrated market opportunity
South East Asia eCommerce presents a massive, underpenetrated market opportunity… COMPELLING MACRO SECULAR TRENDS 1 OUTSIZED GROWTH IN SE ASIA ECOMMERCE 5 Young population SE Asia eCommerce market (% of total) (US$ bn) Substantial ~550 m Total population in SE Asia 34% 32% 2.5x +18 additional upside
Slide 102: …with structural challenges creating significant barriers to entry
…with structural challenges creating significant barriers to entry Payments Logistics • Low credit card penetration • Undeveloped infrastructure • Local alternatives preferred • Scattered logistics networks • Cash on delivery needed • Geographic diversity Supply chain Regulatory Culture & talent • F
Slide 103: Lazada has achieved significant traction and scale across three key pillars
Lazada has achieved significant traction and scale across three key pillars 1 PLATFORM ~$1 Annual GMV1 billion ~5 million Total customers ~5 Daily visits million 2 ASSORTMENT % ~75 Marketplace GMV ~15 ,000 Active seller partners2 ~1.6 Active SKUs million 3 LOGISTICS ~85 % Of our orders are shipped 5
Slide 104: Lazada is the undisputed pan-South East Asia market leader
1 Lazada is the undisputed pan-South East Asia market leader… LAZADA IS #1 ACROSS MAJOR LAUNCH COUNTRIES Estimated monthly visits (m)1 Indonesia Malaysia Philippines Thailand Vietnam Lazada Lazada 41 Lazada Lazada 14 Lazada Lazada 25 Lazada Lazada 18 Lazada Lazada 17 Tokopedia 10 Lelong 6 Metrodeal
Slide 105: Early success in mobile extending Lazada’s leadership
1 ...with early success in mobile massively extending Lazada’s leadership MARKET LEADING MOBILE PLATFORM… ~50% TRAFFIC COMES FROM MOBILE • Best-in-class Android and iOS applications • Mobile optimized site for all major browsers 13% 25% • Innovative mobile marketing leveraging chat apps 40% 49% …WIT
Slide 106: Lazada is experiencing outsized growth
1 Lazada is experiencing outsized growth GROSS MERCHANDISE VALUE (US$ MILLION) 384 ~4x 209 95 ~5x 45 2013 2014 Q1 2014 Q1 2015 Source: Company data 105
Slide 107: Lazada is experiencing outsized growth (cont’d)
1 Lazada is experiencing outsized growth (cont’d) KEY FINANCIALS AND KPIS HIGHLIGHTS $m FY 2013 FY 2014 Rapid GMV growth – with 2014 4x of 2013 – has GMV 94.8 383.8 continued into the new year with annualized GMV % growth 304.8% reaching $1 billion in March 2015 Net revenues 75.5 154.3 % growth 10
Slide 108: Lazada is building an ecosystem that generates network effects
2 Lazada is building an ecosystem that generates network effects as the platform continues to scale More transactions MORE MORE CUSTOMERS SELLER PARTNERS “One-stop shop” “Gateway to SEA” 6x 4x 5.3m 15k 3.9m 12k 0.9m 4k 8x 2013 2014 Q1 15 1.6m 2013 2014 Q1 15 1.0m • Across 6 countries 0.2m • Local &
Slide 109: Marketplace has been engine for SKU growth
2 Marketplace has been engine for SKU growth with recent contribution from cross-border sourcing MARKETPLACE HAS BEEN ENGINE ...RECENT SKU GROWTH ALSO OF SKU GROWTH... FROM CROSS BORDER SOURCING Total assortment #SKUs Total cross-border #SKUs live (Retail vs. marketplace) 415k 1.6m 285k 1.0m 0.7m 19
Slide 110: Lazada is the online destination site for SEA brands and shoppers
2 Lazada is the online destination site for SEA brands and shoppers to buy anything, anytime and anywhere WIDE ASSORTMENT… …WITH STRONG BRAND & RETAIL PARTNERSHIPS IN PLACE Main category Units sold1 (Sample) partnerships Recent partner and press quotes Electronics “Rather than selling via our own si
Slide 111: Lazada is solving the region logistics and supply chain challenges
3 Lazada is solving the region logistics and supply chain challenges South East Asia region is a Lazada is developing solutions for challenging environment these challenges • Shallow, unsophisticated and inefficient • Ramp up of own fleet last mile capability Transport transport networks (3PLs) • Gr
Slide 112: Lazada network continued expansion
3 Lazada network continued expansion LEX REACH 3PL LOGISTICS NETWORK # of LEX hubs in South East Asia # of 3PL-Lazada partnership 58 61 45 46 36 39 34 24 29 20 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 • LEX network includes today 58 hubs across South • Continuo
Slide 113: Q&A
“gf ROCKETINTERNET O&A
Slide 114: Appendix
“gf ROCKETINTERNET Appendix
Slide 115: Funding Transactions Since the Rocket Internet IPO
Funding Transactions Since the Rocket Internet IPO Proven Winners (€m) Funding received 110.0 233.7 23.9(5) Rocket investment 130.2(2) 116.5(4) 10.4(6) Total LPV 623.8(3) 559.3 822.8 Rocket LPV impact(1) +273.8 +199.6 +160.1 Rocket stake at IPO vs now (%) 37.1 / 51.7 44.9 / 50.0 49.5 / 49.4 Notes: (
Slide 116: Funding Transactions Since the Rocket Internet IPO
Funding Transactions Since the Rocket Internet IPO Proven Winners (€m) Funding received 200.0 120.0 55.5 Rocket investment 15.3 0.5(3) 10.0(5) Total LPV 957.8(2) 445.0 479.5 Rocket LPV impact(1) +93.3 +15.3(4) +33.9 Rocket stake at IPO vs now (%) 26.7 / 23.8 26.8 / 28.7 33.7 / 31.8(5) Notes (1) Impa
Slide 117: Funding Transactions Since the Rocket Internet IPO
Funding Transactions Since the Rocket Internet IPO Emerging Stars (€m) Funding received 41.4(2) 26.5 6.0 Rocket investment 5.0 26.5 1.0 Total LPV 107.9 156.5 39.0 Rocket LPV impact(1) +24.5 +33.9 +1.0 Rocket stake at IPO vs now (%) 59.8 / 33.8 10.0 / 25.2 44.7 / 40.4 Notes: (1) Impact on Rocket Shar
Slide 118: Funding Transactions Since the Rocket Internet IPO
Funding Transactions Since the Rocket Internet IPO Emerging Stars (€m) Funding received 6.0 3.2 Rocket investment N/A N/A Total LPV 100.6 36.8 Rocket LPV impact(1) +0.1 +1.2 Rocket stake at IPO vs now (%) 52.3 / 49.3 49.6 / 48.6(2) Notes: (1) Impact on Rocket Share of LPV compared to Rocket Internet
Slide 119: Funding Transactions Since the Rocket Internet IPO
Funding Transactions Since the Rocket Internet IPO Concepts (€m) Funding received 5.0 1.0 5.7 Rocket investment 0.5 N/A 0.8 Total LPV 20.0 21.0 20.7 Rocket LPV impact(1) 15.5 +20.0 +15.8 Rocket stake at IPO vs now (%) 100.0 / 77.5 100.0 / 95.2 100.0 / 75.9 Notes: (1) Impact on Rocket Share of LPV co
Slide 120: Funding Transactions Since the Rocket Internet IPO
Funding Transactions Since the Rocket Internet IPO Concepts (€m) Funding received 1.5 5.0 14.5 Rocket investment N/A N/A N/A Total LPV 16.5 14.6 32.5 Rocket LPV impact(1) +15.0 +9.6 +18.0 Rocket stake at IPO vs now (%) 100.0 / 90.9 100.0 / 65.9 100.0 / 55.4 Notes: (1) Impact on Rocket Share of LPV c
Slide 121: The Leading Global Internet Platform Outside the US and China
The Leading Global Internet Platform Outside the US and China