Monni · EURONEXT:MONNI
Monni — Keyware Technologies — Investor Presentation (March 2019)
40 slides from Monni's investor presentation, Mar 25, 2019
Slide 1: Your n°1 payments partner
Your n°1 payments partner v 201903.1
Slide 2: Disclaimer
DISCLAIMER This presentation was prepared by Keyware Technologies NV/SA (the “Company”) solely for use at investor presentations. By receiving this presentation and participating in this meeting, you acknowledge having been informed of the following restrictions. This presentation has been prepared
Slide 3: Content
CONTENT ▶ From omnichannel payment solutions to FinTech software development p. 4 ▶ Company presentation p. 10 ▶ Organisation p. 12 ▶ Why invest? p. 17 ▶ Financials p. 19 ▶ Markets p. 27 ▶ Operations p. 31 ▶ Customers p. 35 ▶ Valuation p. 37 3
Slide 4: From omnichannel payment solutions to FinTech software development
FROM OMNICHANNEL PAYMENT SOLUTIONS TO FINTECH SOFTWARE DEVELOPMENT multi-channel access input universal payment output multiple plugin transaction platform plugin acquirers multi-channel input universal payment output multiple access plugin transaction platform plugin acquirers MOBILE Terminal charg
Slide 5: Main SaaS components
MAIN SAAS COMPONENTS Set2u • processors • electronic banking specialist • traditional retailers banks providers firms • franchises and cooperatives • payment service • e-commerce providers • distance selling • payment institutions • m-commerce • card issuers • private label cards • acquirers • manag
Slide 6: S-Token and EasyOrder
S-Token Tokenization process Real data Tokenized number (e.g., a credit card number) 3456789011121314 1973809291015121 Secure token vault with link between real and token values EasyOrder download app – register choose delivery choose confirm get select products and confirm method and time payment c
Slide 7: Keyware - a compelling story
KEYWARE - A COMPELLING STORY The acquisitions of Magellan and EasyOrder serve as growth accelerators for the terminals & transactions business lines and vice versa, e.g. : SPLIT software sales boost payment transactions and adds an additional functionality to the payment terminals Zaventem the renta
Slide 8: Roadmap 2018-2019 – some highlights
ROADMAP 2018-2019 – SOME HIGHLIGHTS Introduction of a Web Shop Terminal in Belgium and Germany Setup of an e-commerce site in Germany End of Q1: fully new software release via up-to-date platform PHP 7.1 Laravel 5.5 backend with Ionic 2/Angular 2 frontend New features in the B2C solution Development
Slide 9: Product life cycle
PRODUCT LIFE CYCLE Introduction Growth Maturity Saturation Decline terminals local set2u international Easyorder Sales international split s-token international international Time 9
Slide 10: Company presentation
ieket B GP Mi3,..0) SBpass A) P Poyrot Pay DS 0 | Ew
Slide 11: Corporate fact sheet
CORPORATE FACT SHEET Keyware Technologies is a public company since June 2000 (Nasdaq Europe: KEYW) and trades since 2003 on NYSE-Euronext, now Euronext (KEYW) Key figures statutory capital n° of shares fully diluted CAGR EBITDA FTE’s € 8.358.694 22.543.793 23.543.793 (FY 2013 – FY 2018) margin 70 1
Slide 12: Organisation
ieket B GP Mi3,..0) SBpass AP Pyro GPa DS 2 | Er
Slide 13: Management team Belgium
MANAGEMENT TEAM BELGIUM Stéphane Wim Alain Vandervelde Verfaille Hubert CEO COO CFO over 30 years over 25 years over 20 years of of experience of experience experience in finance in technology in streamlining former E&Y-director organisations operations Transaction Advisory co-founder of Keyware ext
Slide 14: Management team Belgium
MANAGEMENT TEAM BELGIUM Joris Laurent Maes Vandervelde CCO Country Manager over 20 years of experience Germany in international sales & CCO EasyOrder marketing positions Master Commercial Master in Industrial Engineer @ Solvay Business Engineering School MBA in General Sales and Marketing Internatio
Slide 15: Local management teams
LOCAL MANAGEMENT TEAMS Franck David Willmann Fortino CEO Magellan CCO Magellan over 20 years of experience Over 20 years of experience in payment solutions in IT organizations co-founder of Magellan Management of Business co-creator of Caravel Unit specialized in IT monetary solutions Expert in soft
Slide 16: Organisational structure
ORGANISATIONAL STRUCTURE Keyware Technologies NV 100% 50% 100% 100% 12% 100% Keyware Transactions & Processing GmbH Keyware Smart Card Division NV PAYITEASY bvba Keyware Transactions And Processing NV Magellan SAS Easy Order VOF SET2U S-Token Consulting SPLIT 50% 88% Services Transaction Customer Tr
Slide 17: Why invest?
ieket B GP Mi3,..0) SBpass AP Payot Pay DS 7 | Ew
Slide 18: Insights into Keyware's attractiveness for investors
INSIGHTS INTO KEYWARE’S ATTRACTIVENESS FOR INVESTORS Mature Group with diversified activities Quests for growth by increasing market share ability to quickly adopt new technologies, partners, steadily increasing market share in electronic payments products and solutions (e.g. Keyware’s PayService se
Slide 19: Financials
Financials 19
Slide 20: Consolidated income statement
Consolidated income statement Fiscal year Fiscal year 2017 2018 (in 000 €) (in 000 €) (audited) (audited) Revenues 18 730 19 635 Other gains and losses 570 917 Raw materials and consumables -8 275 -8 708 Salaries and employee benefits -1 857 -2 259 Depreciations and amortizations - 958 -1 465 Net im
Slide 21: Breakdown per segment
Breakdown per segment Fiscal year Fiscal year 2017 2018 (in 000 €) (in 000 €) (audited) (audited) Revenues terminals 8 449 7 163 Cost of sales terminals -1 731 -1 283 Gross margin terminals 6 718 5 880 Revenues authorizations 8 510 9 642 Cost of sales authorizations -6 527 -7 377 Gross margin author
Slide 22: Sales by segment and by region
Sales 2017 by segment Sales 2018 by segment 1561 2830 210 0 8449 7163 Terminals Terminals 8510 Transactions 9642 Transactions Corporate Corporate Software Software Sales 2017 by region Sales 2018 by region 721 1234 953 1461 Belgium Belgium 17056 Other EU 16975 Other EU ROW ROW 22
Slide 23: Consolidated balance sheet – assets
Consolidated balance sheet Fiscal year Fiscal year 2017 2018 (in 000 €) (in 000 €) Assets (audited) (audited) Non-current assets 27 230 27 042 Goodwill 7 993 7 993 Other intangible fixed assets 6 679 6 332 Property, plant and equipment 992 2 050 Deferred tax assets 860 2 713 Receivables from finance
Slide 24: Consolidated balance sheet – equity and liabilities
Consolidated balance sheet Fiscal year Fiscal year 2017 2018 (in 000 €) (in 000 €) Equity and liabilities (audited) (audited) Shareholder's equity 27 433 27 592 Issued capital 7 412 7 682 Share premiums 3 063 3 208 Other reserves 797 797 Treasury shares - 609 - 557 Result carried forward 16 770 16 4
Slide 25: Consolidated cash flows
Consolidated cash flows Fiscal year Fiscal year 2017 2018 (in 000 €) (in 000 €) (audited) (audited) Cash flow from operating activities Profit for the period 1 174 626 Adjustments: - Deferred taxes 1 019 181 - Financial income -1 176 -846 - Financial expenses 269 178 - Depreciations and amortization
Slide 26: Consolidated cash flows
Consolidated cash flows Fiscal year Fiscal year 2017 2018 (in 000 €) (in 000 €) (audited) (audited) Cash flow from operating activities 3 362 5 010 Net cash from investing activities Acquisition of subsidiaries (net of cash acquired) -3 719 - Acquisition of intangible and tangible fixed assets (cape
Slide 27: Markets
E BEY sod OFskst,.. @ GP Vis...) SBpass
Slide 28: Percentage of cash payments in total shop payments
PERCENTAGE OF CASH PAYMENTS IN TOTAL SHOP PAYMENTS < 50% 50 - 60% 60 - 70% 70 - 80% Finland 36% > 80% Estonia 44% Sweden 38% Latvia 68% Denmark 37% Lithuania 80% The Ireland Netherlands 69% UK 37% 45% Poland Czech Republic 86% 77% Germany Slovakia 61% 76% Hungary 73% Luxembourg Belgium 29% 54% Austr
Slide 29: POS terminals: market trends
POS TERMINALS: MARKET TRENDS Evolution N° of POS terminals 2.200.000 2.100.000 2.000.000 1.900.000 1.800.000 1.700.000 1.600.000 1.500.000 1.400.000 1.300.000 1.200.000 1.100.000 1.000.000 900.000 800.000 700.000 600.000 500.000 400.000 300.000 200.000 100.000 0 2000 2001 2002 2003 2004 2005 2006 20
Slide 30: Payment transactions: market trends
PAYMENT TRANSACTIONS: MARKET TRENDS Evolution N° card payment transactions 13.000.000 12.000.000 11.000.000 10.000.000 9.000.000 8.000.000 7.000.000 6.000.000 5.000.000 4.000.000 3.000.000 2.000.000 1.000.000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Slide 31: Operations
«Operations Ey sodet OFicket,., @ GP Vi2,,,,.0) GBpass: [V PayPal @Pay fD) &
Slide 32: Organisation: headcount
ORGANISATION: HEADCOUNT: BELGIUM GERMANY FRANCE TOTAL SALES & MARKETING 20 FTE - 2 FTE 22 FTE DEVELOPMENT 7 FTE - 13 FTE 20 FTE ACCOUNTING, FINANCE & ADMIN 4 FTE - 1 FTE 5 FTE LEGAL & HR 1 FTE - 1 FTE 2 FTE CUSTOMER SUPPORT & INSTALLATIONS 11 FTE - (*) 3 FTE 14 FTE 43 FTE - 20 FTE 63 FTE (*) outsour
Slide 33: Operational excellence – SAP backbone
OPERATIONAL EXCELLENCE SAP Backbone Keyware has an end-to-end integrated business process based on SAP. Advantages for our customers: at any moment and for each division : up-to-date customer status less overhead triggers lower operating costs, hence better prices faster order and fulfillment proces
Slide 34: Certificates
CERTIFICATES PCI-DSS COMPLIANCE A set of security standards for all organisations that manage and store credit and debit card information Certificate Holder - POS Gateway Certificate Holder - Terminal Provider Keyware is the only provider for Bancontact on APAX-terminals electronic cash Netzbetreibe
Slide 35: Customers
ee 4 cal Rete hers . ae a ‘ee ™ Ml & visa SS P| DS BD sodcd Ofte. @ GP M2,,,,.0) SBMpass ry a P PayPal @ Pay S 35 | Gorn
Slide 36: On our way to serve 20.000 customers…
ON OUR WAY TO SERVE 20.000 CUSTOMERS… 36
Slide 37: Valuation
Valuation evra! Pay DS a7 | Goes
Slide 38: Share price evolution 2015-2019
SHARE PRICE EVOLUTION 2015-2019 Price Chart 01/01/2015 - 02/03/2019 Price 02/03/2019 38
Slide 39: =. SS uh visa SS
=. SS uh visa SS sodexb OLAS, @ GP Vi...) SBpass MP Payee Pay DS 39 | Loe
Slide 40: Contact
CONTACT Keyware Technologies NV Ikaros Business Park, Ikaroslaan 24, B-1930 Zaventem, Belgium tel: +32 2 346 25 23 - fax: +32 2 347 16 88 - info@keyware.com - www.keyware.be 40
Keyware Technologies — Investor Presentation (March 2019) on 6ix