Financial Services Technologies

Transcription

1 CORPORATE PRESENTATION FinTech Group AG April 2017 Financial Services Technologies We got IT

2 1. The FinTech Group

3 1.1 Key facts and operational figures* Customer cash deposits Number of own B2C Customers Number of inst. B2B Clients Assets under Admin. (biw AG) Trades executed p.a. Tier 1 Capital CRR indicator Headquarters Other locations Employees > EUR 1bn > 200k > 200 approx. EUR 11bn > 10m approx. EUR 50m > 10 Frankfurt, Germany Berlin, Düsseldorf, Kulmbach, Willich, Andernach, Zwickau approx. 450 Investors Other and free float GFBK (Entity of flatex founder Bernd Förtsch) Free float 36,76% 39,80% 0,57% *as of ,31% 1,72% 2,97% 16,87% Other and free float (Holding <0.5%) THE FINTECH GROUP 3

4 1.2 FinTech Group share Shares outstanding: 16.8m Options outstanding: max. 1.7m Market Cap: ISIN: Bloomberg: Transparency level: EUR 240m (28/04/2017 share price EUR 14.33) DE000FTG1111 FTK GR Equity Scale STOCKPRICE DEVELOPMENT LTM Share Price (EUR) Mar 2017 PriceTarget EUR H&A Mar 2017 PT EUR M.M. Warburg Reasonable daily trading volume Approx. EUR 250k/day Mar 2017 PT EUR GBC Stock covered by THE FINTECH GROUP 4

5 1.3 Our business model at a glance B2B TRANSACTION PROCCESING & WHITE LABEL BANKING SERVICES Technology and white-label banking business for third parties B2C SECURITIES TRANSACTION & FINANCIAL SERVICES Business models operated by FinTech Group AG under own brands Leading provider of software and technology solutions for banks and financial services companies in Europe with more than 250 clients B2B Brands B2C Brands Renowned, third largest online broker in Germany with flat fee trading model Approx. 180,000 customers Strong brand in Germany with multiple awards European expansion in progress Continuous product development Professional trading for highly active investors German BaFin licensed bank with full range of white label banking services (EU-Passport) kesh: mobile payment system brokerport: B2C online brokerage with a large portfolio of products THE FINTECH GROUP 5

6 1.4 B2B service portfolio Leading provider of software and technology solutions for banks and financial services companies in Europe with more than 250 clients German BaFin licensed bank with full range of white label banking services (EU-Passport) Banking Business process outsourcing (white-labeling) Core banking Reporting systems (client, regulatory, etc.) Payment platform SEPA platform incl. mandate management Online banking Secure transactions Payment Payment services (physical and electronic) Mobile payment "kesh" Card processing ATM operations (incl. mobile payment) Transaction Trading system Market maker system Trading platforms Market and price data supply THE FINTECH GROUP 6

7 1.5 BPO provider of choice FinTech Group developed, maintains and runs LOX, the ETP OTC system for Deutsche Bank and Commerzbank - 3bn price feeds and 50k transactions - per day! Strategic partnership between flatex and Morgan Stanley allows for significantly higher profit stake in the ETP business - already >15k ETP products launched FinTech Group and Rocket Internet have developed joint banking business models at an EU level - first step was set-up of client deposit lending page Zinsgold.de FinTech Group and biw were chosen by Equatex - one of two leading stock option plan administrator in Germany with >3bn EUR AuC - to provide banking and custody services; opening 250k accounts for >3bn EUR AuC in 2 weeks THE FINTECH GROUP 7

8 1.6 The ecosystem B2B Reduce costs Leverage synergies B2C Access to new partner GROWTH Expand product portfolio Increase profitability Increase transactions Improve customer value "customer journey" THE FINTECH GROUP 8

9 1.7 Financials and guidance 22.7 Improved tech expertise by XCOM acquisition Strengthened capital base Implemented high class management team and subsequent restructuring actions Closed CFD deal with Commerzbank (strategic partnership) Group wide IFRS Reporting (incl. segment reports) Boost of organic growth of existing B2C business Sale of loss making AKTIONÄRSBANK, improve annual earnings and pool banking activities in biw AG Implement technology based lending and redeveloping treasury with the potential to generate an additional EUR 10+ million (do-ityourself and / or partner with existing players) Enter Prime Standard of Frankfurt Stock Exchange to increase transparency and trading volume Further strategic acquisitions & partnerships 12.3 > > EBITDA EUR million Net Sales EBITDA Net Profit prelim 2017e THE FINTECH GROUP 9

10 1.8 Group structure (today) 100% 100% 78,4%* (SPV) 0,75% 2,25% 100% Via XCOM Finanz GmbH (100%) 100% 100% *98% of voting rights, as of THE FINTECH GROUP 10

11 1.8 Group structure (reorganization 5 to 2 ) 100% 100% 78,4%* (SPV) 0,75% 2,25% 100% Via XCOM Finanz GmbH (100%) 100% 100% *98% of voting rights, as of as of THE FINTECH GROUP 11

12 1.8 Group structure (final structure) Tech-Entity 100% Fin-Entity bank THE FINTECH GROUP 12

13 1.9 Executive Committee Sascha Bochartz Dr. Benon Janos Frank Niehage Muhamad Chahrour Bernd Würfel Niklas Helmreich Head IT FTG Board Member XCOM AG Head B2B FTG CEO flatex CEO ViTrade Board Member XCOM AG CEO FTG CEO biw AG Chairman Executive Committee FTG CFO FTG Vice Chairman biw AG Vice Chairman XCOM AG CEO biw AG CEO Aktionärsbank Board Member XCOM AG Head B2C FTG CEO flatex CEO ViTrade Board Member XCOM AG THE FINTECH GROUP 13

14 2. Annex

15 2.1 Company history Incorporation of PRE.IPO AG in Kulmbach Change of name to flatex AG Start of CFD-Trading IPO flatex AG Aktionärsbank GmbH obtains banking license Acquisition of CeFDex (100%) flatex Holding AG FinTech Group AG New Senior Management Take-over of strategic majority in XCOM AG Incorporation of XCOM BCC in Langen Merger of 12 group companies XCOM AG Acquisition of XCOM-Bank Incorporation of Bank biw AG (minority stake in the beginning) Investment in ViTrade AG Full take-over of Bank biw AG (100%) New owner FinTech Group AG Significant acceleration ANNEX 15

16 2.2 Leading flatex brokerage business Steady and organic B2C growth Increasing share of wallet, e.g. flatex flex credit line and international expansion 40+ flatex trades per customer on average per annum A GROWING NUMBER OF FLATEX CUSTOMERS (IN K) NUMBER OF FLATEX TRANSACTIONS (IN M) 205,5 175,4 149,6 118,2 126,1 134,4 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017E 8,5 7,7 7,1 5,6 5,5 5,8 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017E ANNEX 16

17 2.3 Strengthening transaction processing business Clear strategy to become Europe s number one in transaction processing Diversifying transaction business by strengthening position as Europe s leading transaction processor Steady growth in number of transactions and corporate stock actions GROWING NUMBER OF TOTAL TRANSACTIONS (IN M) POSITIONED AS CORPORATE STOCK ACTION PROCESSOR (IN K) 11,6 10,1 10,5 6,5 6,3 6,8 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017E 125,0 115,0 104,0 91,0 77,0 82,0 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017E ANNEX 17

18 2.4 Focus on banking customer base Strategic focus on further expansion of B2B/B2C transaction banking business Steady growth in expansion of client base and custody services Cooperation with Equatex - a global plan administrator for numerous blue chips with > EUR 3 bn AuC and more than 194k managed accounts - boosts 2016 figures STRONG INCREASE IN NUMBER OF MANAGED ACCOUNTS (in k) AuA HAVE BEEN BOOSTED SINCE NEW STRATEGY (in bn EUR) 454,4 500,0 10,9 12,0 181,0 198,0 196,0 218,0 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017E 5,7 3,5 4,0 2,8 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017E ANNEX 18

19 2.5 Leveraging treasury portfolio biw AG holds EUR + 1bn in deposits haven t been used actively parking large deposits with ECB caused EUR 7-digit interest expenses reallocation of ECB deposits into profitable and diversified treasury portfolio (soverign and federal state bonds, corporate bond, approx. 1% turn around of approx. EUR 5-7 mn ECB -0.4% = EUR -2MN P.A. TREASURY 0.25% - 0.5% = EUR +2MN P.A. in EUR million ANNEX 19

20 2.6 Setting up credit portfolio setting-up a credit portfolio, diversified over risk, maturity and amount aimed portfolio size of EUR average interest rate of 4% (> 90% of all loans fully collateralized) successful introduction of first product: fully collateralized flatex flex credit line with EUR 80mn+ credit lines drawn after 6 months B2C COLLATERALIZED LOANS EUR 3.9% = EUR +6MN P.A. ALTERNATIVE CREDIT BOOK EUR 3.5% = EUR +4MN P.A. in EUR million ANNEX 20

21 2.7 Financials at a Glance - Consolidated Group CONTINUOUS REVENUE GROWTH WITH NEW STRATEGY (meur) 100,0+ 34,6 * 40,6 48,3 46,7 H H H H FY 2017E NET PROFIT TURNAROUND ACHIEVED (meur) 16,8+ 10,0 9,8 2,5 H H H H FY 2017E -12,2 SHAREHOLDER VALUE CREATION THROUGH ROE GROWTH 13,6% 16,5%+ AFTER GROUP RESTRUCTURING FOCUS ON EPS 0,73 1, E -2,5% -15,5% E 2017E -0,58-0,99 * H numbers include significant one-off income (reported figure in FY15: EUR 8.3mn) and consolidate only three months XCOM/biw (for further information see HY16 financial report note 4) Note: all segment numbers before intersegment consolidation and holding expenses thus sum of segments does not equal Group financials 1 undiluted, based on 16.8m shares outstanding as of 01/04/2017 ANNEX 21

22 2.8 Segment Financials at a Glance Securities Trading and Financial Services ONGOING INCREASE IN NUMBER OF RETAIL CLIENTS (k) LEADING B2C-POSITION ENSURES RECURRING REVENUES (meur) 250,0** 212,0 193,8 163,7 176,6 H H H H FY 2017E 25,0+ 21,4 * 11,6 7,1 7,8 H H H H FY 2017E EBITDA INCREASING WITH HIGHER SHARE OF WALLET (meur) EFFICIENT IT AND BANKING ECOSYSTEM DRIVES EBITDA-MARGIN 15,7 * 16,5+ 73,4% * 54,9% 63,8% 57,7% 67,0%+ 7,4 3,9 4,5 H H H H FY 2017E * H numbers include significant one-off income (reported figure in FY15: EUR 8.3mn) ** includes flatex, ViTrade and further B2C clients H H H H FY 2017E Note: all numbers before intersegment consolidation and holding expenses thus sum of segments does not equal Group financials ANNEX 22

23 2.8 Segment Financials at a Glance Transaction Processing & White-Label Banking Services STRONG GROWTH IN NUMBER OF SETTLED TRANSACTIONS (m) INTENSIFIED SALES ACTIVITIES IMPACT REVENUE GROWTH (meur) 12,5 75,0+ 4,8 5,3 5,0 5,5 H H H H FY 2017E 11,8 * 33,4 36,5 34,2 H H H H FY 2017E RESTRUCTURING HAS INCREASED EFFICIENCY AND EBITDA (meur) 28,5+ 2,2 * 16,3 12,3 6,2 H H H H FY 2017E * H numbers consolidate only three months XCOM/biw (for further information see HY16 financial report note 4) SCALABLE PRODUCTS AND BPO PUSHES EBITDA-MARGIN 40% 15% 18,6% * 18,6% 33,7% 47,7% 38,0%+ H H H H FY 2017E Note: all numbers before intersegment consolidation and holding expenses thus sum of segments does not equal Group financials ANNEX 23

24 2.9 Peer group uses liability umbrella of biw % B2C - currently online brokerage B2B IT services B2B Banking services PEERS OF FINTECH GROUP ANNEX 24

25 2.10 Fostering own ideas We developed our own multichannel mobile payment system which has been rolled out in Germany in interaction with cash machines withdraw money from kesh-account load money into kesh with EC/credit card payments among individuals transfer money demand money Webshop payments in ecommerce transfer of address data payment approval in kesh social banking Kasse collect contacts collect favorite dealers payment at POS Kasse smartphone / tablet monitor with internet access integration in cash register system value added-services voucher code browser-access backend integration connection to third systems via API ANNEX 25

26 2.11 FinTech Campus Frankfurt and Berlin one-stop-shop FinTech labs - offering Fin, Tech and Cap CORPORATE INNOVATION Technology match-making and support Banking and regulatory know-how Fintech project deal flow sessions MENTORING NETWORK Banking And Technology Experts On Site Dedicated Education Fintech B.Sc. Entrepreneurial Workshops And Events GROWTH INVESTMENT Service & Management For Equity Early Stage Seed Investments VC Follow-on Investments ACCESSIBLE LOGISTICS Plug & Play Office And Event Venues (Working Terrace, Soho Club, Health Club) Big Data For Research & Development Access To Marketing And PR Channels ANNEX 26

27 2.11 FinTech Campus ANNEX 27

28 2.11 FinTech Campus ANNEX 28

29 Thank you Contact details Frank Niehage CEO FinTech Group AG Rotfeder-Ring Frankfurt, Germany