Vend Marketplaces Asa · OSL:VEND
Vend Marketplaces Asa — Schibsted — Investor Day (2010)
28 slides from Vend Marketplaces Asa's investor day presentation, 2010
Slide 1: Online classifieds: Organic growth in established markets
Tittel Online classifieds Organic Undertittel growth in established markets CHRISTIAN PRINTZELL HALVORSEN CEO Finn.no 1 CMD 2010 - Christian Printzell Halvorsen - Online Classifieds
Slide 2: Agenda: Organic growth in established markets
Agenda: Organic growth in established markets • The classifieds business and the importance of being #1 • Key differences between early and established classifieds businesses • What is FINN? • FINNs growth strategy going forward • Case examples fra FINN and Blocket 2 CMD 2010 - Christian Printzell H
Slide 3: The classifieds business can enter a positive spiral of increasing monetization opportunities
The classifieds business can enter a positive spiral of increasing monetization opportunities More advertisers Positive spiral More users = more ads = more traffic Less visibility for More inventory advertisers Opportunity for Opportunity for brand advertising, visibility products lead generation et
Slide 4: Achieving market domination is key
Achieving market domination is key Unique Monthly Visitors vs. nearest competitor (millions) 6 25 3,5 5 3 20 4 2,5 15 2 3 5X 4X 1,5 10X 10 2 1 1 5 0,5 0 0 0 FINN.no QXL.no Blocket.se Tradera.se Leboncoin.fr Vivastreet.fr 4 Source: Google Ad Planner
Slide 5: Classifieds is highly profitable once leadership position is established
Classifieds is highly profitable once leadership position is established EBITDA margin High margins for players that are 100% much larger than #2 50–70% 30–50% 5–30% 0% 1x 3—5x 8—10x Size versus second player Source: Company reports and presentations 1 2007/2008 annual data (not calendarised to Dece
Slide 6: Monetization levers depend on degree of maturity of the business
Monetization levers depend on degree of maturity of the business Stage of growth Established leader Emerging leader New launches • Adsense • Adsense • Adsense • Visibility and feature • Visibility and feature fees fees • (Brand advertising) • Brand advertising • (Insertion fees in • Broad use of ins
Slide 7: CMD 2010 - Christian Printzell Halvorsen - Online Classifieds
CMD 2010 - Christian Printzell Halvorsen - Online Classifieds 7
Slide 8: Jobs: Marketshare ~90%, Position #1
Jobs: Marketshare: ~90% Position: #1 Note: Marketshare in % of positions published by NAV CMD 2010 - Christian Printzell Halvorsen - Online Classifieds 8
Slide 9: Real estate: Marketshare ~100%, Position #1
Real estate: Marketshare: ~100% Position: #1 Note: Marketshare in % of houses for sale. Other real estate verticals not included. CMD 2010 - Christian Printzell Halvorsen - Online Classifieds 9
Slide 10: Cars: Marketshare ~120%, Position #1
Cars: Marketshare: ~120% Position: #1 Note: Marketshare in % of registered ownership changes (cars only) CMD 2010 - Christian Printzell Halvorsen - Online Classifieds 10
Slide 11: Miscellaneous: Position #1
Miscellaneous: Marketshare: N/A Position: #1 Note: Position with respect to usage (unique visitors/week) CMD 2010 - Christian Printzell Halvorsen - Online Classifieds 11
Slide 12: Travel: Position #2
Travel: Marketshare: N/A Position:#2 Note: Position with respect to usage (unique visitors/week) CMD 2010 - Christian Printzell Halvorsen - Online Classifieds 12
Slide 13: "Big numbers" from 2009
”Big numbers” from 2009 • 317 million visits on FINN, or 66 visits per Norwegian • 2 716 975 days spent on FINN, or 14 hours per Norwegian • 2 504 456 ads. Total value of advertised goods was 456 billion NOK, or 54% of Norway’s state budget 13 CMD 2010 - Christian Printzell Halvorsen - Online Classi
Slide 14: FINN has grown steadily and is highly profitable with a margin of ~40%
FINN has grown steadily and is highly profitable with a margin of ~40%. FINN revenues, MNOK 738 691 576 398 267 133 173 63 100 43 FINN EBIT, MNOK 294 298 249 114 149 25 42 70 -17 -6 2000 2001 2002 2003 2004 2005 2006 2007 2008* 2009* * Excluding Sesam CMD 2010 - Christian Printzell Halvorsen - Onlin
Slide 15: All FINN's markets are growing from last year, except services
All FINN’s markets are growing from last year, except services where a new product is under development per jun 08 Revenues per Q2 2010, MNOK per jun 09 per jun 10 Services 26 16 25 Travel 29 40 25 Misc 38 46 111 Jobs 86 111 94 Real Estate 90 134 86 Cars 96 105 15 CMD 2010 - Christian Printzell Halv
Slide 16: FINN's revenue streams have become increasingly diverse over the years
FINN’s revenue streams have become increasingly diverse over the years Other revenues Brand advertising Feature/visibility fees Listing fees FINN revenues per product type, % of total revenues 2% 100% 5% 5% 10% 14% 13% 14% 14% 13% 16% 17% 22% 23% 18% 16% 14% 25% 25% 23% 21% 1% 1% 2% 3% 84% 78% 69% 7
Slide 17: FINN's markets have different strategies based on their market share
FINN’s markets have different strategies based on their market share High marketshare = Low marketshare = Value chain growth User and customer growth • Real estate • Misc • Travel • Cars / motor • Jobs • Services • Brand advertising CMD 2010 - Christian Printzell Halvorsen - Online Classifieds 17
Slide 18: To succeed on the strategy for continued growth we focus on 3 areas
To succeed on the strategy for continued growth we focus on 3 areas 1 Best on innovation Strategy for 2 Best in sales continued growth 3 Best performance culture CMD 2010 - Christian Printzell Halvorsen - Online Classifieds 18
Slide 19: FINN has captured significant marketshare in online brand advertising
FINN has captured significant marketshare in online brand advertising over the last 1,5 years Market share online advertising FINN 20 % 18 % Andel av nettannonsering 16 % 2007 2008 14 % 2009 2010 12 % 10 % 8% jan f eb mar apr mai jun jul aug sep okt nov des Source: INMA CMD 2010 - Christian Printzel
Slide 20: Increased marketshare in online brand advertising is a result of structured work
Increased marketshare in online brand advertising is a result of structured work with a long-term focus • New customers and customer service models, e.g., new focus on large corporate customers such as banks • New formats and products, e.g., interactive and rich formats connected to the classifieds
Slide 21: CMD 2010 - Christian Printzell Halvorsen - Online Classifieds
CMD 2010 - Christian Printzell Halvorsen - Online Classifieds 21
Slide 22: CMD 2010 - Christian Printzell Halvorsen - Online Classifieds
CMD 2010 - Christian Printzell Halvorsen - Online Classifieds 22
Slide 23: CMD 2010 - Christian Printzell Halvorsen - Online Classifieds
CMD 2010 - Christian Printzell Halvorsen - Online Classifieds 23
Slide 24: CMD 2010 - Christian Printzell Halvorsen - Online Classifieds
24 CMD 2010 - Christian Printzell Halvorsen - Online Classifieds
Slide 25: CMD 2010 - Christian Printzell Halvorsen - Online Classifieds
CMD 2010 - Christian Printzell Halvorsen - Online Classifieds 25
Slide 26: CMD 2010 - Christian Printzell Halvorsen - Online Classifieds
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Slide 27: Key takeaways
Key takeaways • Strong brands and #1 positions in terms of traffic create opportunity for high margins and high barriers to entry • Continued growth to come in FINN and Blocket based on – Improving sophistication in existing business models – Developing new revenue sources that leverage existing pos
Slide 28: Shaping the media of tomorrow. Today.
Tittel Shaping the media of tomorrow. Today. Undertittel 28