Clavister Ab · OMXSTO:CLAV
Clavister Ab — Investor Presentation (November 2017)
15 slides from Clavister Ab's investor presentation, Nov 24, 2017
Slide 1: Investor Brief prior to EGM at December 11, 2017
Clavister Investor Brief prior to EGM at December 11, 2017 Clavister – Investor Brief prior to EGM at December 11, 2017 November 24, 2017 John Vestberg • President and CEO • john.vestberg@clavister.com
Slide 2: Agenda
Agenda. • Clavister Business Opportunity • Funding Partners and Funding Structure • Compensation for Board Committees • Proposed new member to the Board of Directors
Slide 3: Strategic Outlook
Strategic Outlook. Clavister aims to be established as a significant global cybersecurity vendor by 2022.
Slide 4: Clavister Cybersecurity Technology Platform
INTERNET OF THINGS (IoT) DATACENTER / CLOUD COMPUTING COMMUNICATION ENTERPRISE SERVICE PROVIDER DEFENSE / MARKET MARKET CONNECTED VEHICLES Clavister Cybersecurity Technology Platform
Slide 5: Enterprise Market
ENTERPRISE MARKET • Clavister is well-positioned for the Enterprise segment Total Addressable Market (MUSD) 30 000 • Highly profitable and scalable business model: 25 000 20 000 +70% +40% 93% 15 000 Gross Recurring Customer 10 000 Margin Revenue Satisfaction 5 000 0 2017 2018 2019 2020 2021 • High-p
Slide 6: Communication Service Provider Market
COMMUNICATION SERVICE PROVIDER MARKET • Shift from appliance based solutions to virtualized solutions is happening faster and to more industries than previously anticipated Total Addressable Market (MEUR) 8 000 6 000 “Verizon says virtualization will enable it to reduce costs by $10B” 4 000 “80% of
Slide 7: Communication Service Provider Market
COMMUNICATION SERVICE PROVIDER MARKET • Strong partnership with Nokia, leveraging their global sales force and customer base • Commercialized and marketed as Nokia NetGuard Virtual Firewall • Security always included in all telecom cloud infrastructure tenders • 8 mobile operator customer wins since
Slide 8: Communication Service Provider Market
COMMUNICATION SERVICE PROVIDER MARKET Typical Deal Projection Market Goal • Maintain market leadership in virtualized security • Scale business with existing partners • Replicate the business model to new partners and Y1 Y2 Y3 Y4 Y5 new verticals License Support Investments Into • Sales and Marketin
Slide 9: Industry EBITDA Margin Profile. Business Model Elasticity
Industry EBITDA Margin Profile. Business Model Elasticity EBITDA Projection at Different Revenue Levels (MSEK) 2 500 45% 40% 2 000 35% 30% 1 500 25% 20% 1 000 15% 500 10% 5% 0 0% Revenues EBITDA EBITDA % (RHS) Note: Above projection is not to be read as a Clavister forecast, but based on peer OPEX b
Slide 10: Funding
Funding. • Up to SEK 250m debt financing facility (tentative) for a fully funded business plan. • Provides long-term financial backing for Clavister to execute and capitalize on the business opportunity. • Investments will be made into: • Sales and Marketing – Sales headcount to drive growth • Produ
Slide 11: Funding Structure (1/2)
Funding Structure (1/2). • Up to SEK 250m in financing (debt) facilities • Tagehus Holding AB at SEK 50m • Loan with three year tenor, dispersed in 2 tranches; Q3 2017 and Q4 2017 • Interest rate 3.5% (decreased from 7% upon first tranche from the EIB) • 2,500,000 basic warrants, at subscription pri
Slide 12: Funding Structure (2/2)
Funding Structure (2/2). • ‘Base case’ Potential Dilution: 16% (approx. 4.6m warrants) • whereof 1.8m warrants issued to the EIB, and • whereof approx. 300,000 warrants issued to Tagehus as a substitute for interest cash payment • Anti-dilution Provisions • 1.25m warrants issued to Tagehus at quota
Slide 13: Establishment of Committees to the Board
Establishment of Committees to the Board. • Remuneration Committee, Audit Committee, Compliance Committee • Proposal of remuneration related to participation in committees: • Chairman: SEK 75t per mandate period • Member: SEK 50t per mandate period
Slide 14: Proposed new Director to the Board
Proposed new Director to the Board. Bo Askvik • Proposed new Director of the Board at Clavister from December 11, 2017 • Currently CFO at Nynas AB • Previously with Nordstjernan AB, Östgöta Enskilda Bank, Neste Corporation, Gränges AB, Intrum Justitia, TeliaSonera etc
Slide 15: Q&A
CLOVISTCr Q&A