1 Corporate Presentation Bank of Cyprus

Transcription

1 1 Corporate Presentation Bank of Cyprus Athens,

2 Disclosure Statement This presentation may contain forward-looking statements about the business, financial condition and prospects of the Company. The actual results of the Company could differ materially from those indicated by such forward-looking statements because of various risks and uncertainties applicable to the Company s business, including those risks indicated in the Company s filings with the Capital Markets Commission. These risks and uncertainties are beyond the ability of the Company to control, and, in many cases, the Company cannot predict all of the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements. When used in this presentation, the words believes, estimates, plans, expects, anticipates and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements. 2 Corporate Presentation 2009 Bank of Cyprus

3 Company s Vision To become a leading IT solutions provider to Financial & Corporate Institutions in Private and Public sector for the EMEA 3 Corporate Presentation 2009 Bank of Cyprus

4 Figures 6 years listed in ASE (ASE:PROF, since 2003) 15 countries, presence in 16 years of continuous profitability 19 years of growing operations 150+ skilled & experienced professionals 1000 customers with 600 large corporate 4 Corporate Presentation 2009 Bank of Cyprus

5 Steady growth 1st Greek Investment Mgt S/W Data Feed & Information Services ASE 3-yr Growth plus 500+ customers Expand International presence Growth in 3 Sectors PROFILE founded Financial s/w market leader Partners & Projects in 3 continents Penetration in Public sector Leader in Risk Mgt New products FMS & UTS Future Innovative systems over the Internet Enriched product suite in Business Sector New Products IMSplus & Spectrum SunGard partnership 2 acquisitions Strategic Acquisitions 5 Corporate Presentation 2009 Bank of Cyprus

6 Presence in 15 Countries Offices Athens (HQ) & Salonica, Greece Nicosia, Cyprus Bucharest, Romania Partners Sofia, Bulgaria Kiev, Ukraine Skopje, FYROM Istanbul, Turkey Dubai, UAE Riyadh, Saudi Arabia Khartoum, Sudan Lebanon, Libye 6 Corporate Presentation 2009 Bank of Cyprus

7 Our Portfolio Software Solutions Integration Public Sector Financial Sector Business Sector Financial Sector Business Sector Across sectors FMS / Global Banking & Financial System IMSplus / Investment Management UTS/ Universal platform for Ticketing Solutions TicketLink / Ticket & Reservation systems SunGard : Risk Management, ALM, Treasury, etc NetEconomy: AntiMoney Laundering & Fraud Oracle: ERP & Business Intelligence Expand Networks: Network Optimization Software: Own & other IT vendors Custom Development: On demand of the project SPECTRUM / Core Banking solution Monopoly / Real Time Data Feed Cargo Management/ Operations of international transports Custom Brokers/ Customs clearance operations Registry/ Shareholders Mgnt NOUS / CRM & Operations Mgnt BeCom / Portal Solutions FundTech: Global Payments & Cash Management China Systems: Trade Finance, Financial Supply Chain Mgnt, etc EMC: Content Mgnt & Archiving TMA Systems: Maintenance Management SunGard Energy: Energy Sector Technologies: Microsoft, IBM, Oracle, Java,.Net, Linux, Open source Hardware: HP, IBM, Cisco 7 Corporate Presentation 2009 Bank of Cyprus

8 Software Market Revenue: 6.6 m Strategic Products: FMS, UTS Markets: Financial (Banking, Capital Markets, Insurance, etc) Business (Shipping, Tourism, Transport, etc) Large growth potential in Greece, even larger internationally 8 Corporate Presentation 2009 Bank of Cyprus

9 Solutions Integration Revenue: 5.3 m Strategic Partners: SunGard, Fundtech, Oracle, EMC Market: Banking, Insurance, Energy, Telcos, Pharmaceutical, Transportation, etc Large growth potential, especially domestic 9 Corporate Presentation 2009 Bank of Cyprus

10 Public Sector Revenue: 4.6 m Active Large Scale Projects: 17 Market: Transportation, Ministries, Municipalities, Councils, etc Established player with good win ratio where competing 10 Corporate Presentation 2009 Bank of Cyprus

11 Key Customers - Greece 11 Corporate Presentation 2009 Bank of Cyprus

12 Key Customers - International 12 Corporate Presentation 2009 Bank of Cyprus

13 Key Customers Public Sector 13 Corporate Presentation 2009 Bank of Cyprus

14 Four year Results (000 Euros) Total Revenue Gross Profit EBITDA EBIT EBT EAT EPS 0,08 0,12 0,17 0,10 14 Corporate Presentation 2009 Bank of Cyprus

15 Four year Results (000 Euros) Fixed Assets Cash Position Total Assets Bank Debt Net Worth Operating Cash Flow OCFPS 0,15 0,19 0,16 0,07 15 Corporate Presentation 2009 Bank of Cyprus

16 Revenue Distribution Corporate Presentation 2009 Bank of Cyprus

17 Revenue Breakdown Corporate Presentation 2009 Bank of Cyprus

18 Management & Staff Experienced & Expert Management Cost Conscious Policy Emphasis on Business & Technical State-of-the-Art Personnel / Category People Software Engineers 65 Business & Application Consultants 52 Sales & Marketing 20 Accounting & Admin 18 Total Corporate Presentation 2009 Bank of Cyprus

19 Growth Reasons Software Expansion abroad capitalizing on infrastructure in 15 countries Increase of s/w investment in Middle East, Asia & N. Africa Solutions Integration Prominent position in Greece & SE Europe Growth through Clients Increase in integrated solutions due to regulatory requirements Public Sector Increased investment in IT projects (e.g. ESPA) New opportunities and methods of project management 19 Corporate Presentation 2009 Bank of Cyprus

20 Competitive Advantages Strong presence in the 3 key sectors Innovation via own Software development, compliant to International Standards Alliances with world leading Vendors for Solutions Integration Public Sector dynamic penetration The only IT company with specialization in all the above sectors, demonstrating high market share Niche Market Solution Provider, with differentiated offering Ready to use software for Domestic & International Markets Proactive Product Launching, for diverse customer needs Independence from clients, suppliers & shareholders 20 Corporate Presentation 2009 Bank of Cyprus

21 3yr Forecast by Organic Growth (000 Euros) 2009F 2010F 2011F Revenue Gross Profit EBITDA EBT EAT Capex EPS 0,11 0,15 0,21 Base scenario without M & A activities 21 Corporate Presentation 2009 Bank of Cyprus

22 Financial Growth at a glance A 2006A 2007A 2008A 2009A 2010F 2011F Earnings after Tax EBITDA Revenue 22 Corporate Presentation 2009 Bank of Cyprus

23 Market Valuation & Financial Data Bank Debt: only 15% of Total Assets Currently Trading: 77% of Book value Trading: 9.5x earnings 2008 (with a high of 18.9x) EV/EBITDA: 4.5 EBITDA Margin: 20.6% (with a high of 25%) Sales are expected to grow over 30% by 2011 Earnings are expected to grow at 28% CAGR for the next 3 years 23 Corporate Presentation 2009 Bank of Cyprus

24 Conclusions Highly Profitable & Financially Healthy Company Large Customer Base & Repeated Business Private & Public Sectors Experienced Management Team and Skilful Professionals Expertise in High Margin Niche Vertical Markets Competitive positioning to 3 profitable sectors Well positioned & diverse portfolio of solutions ensures low risk strategy Strategic Expansion Abroad continues successfully Attractive Market Valuation 24 Corporate Presentation 2009 Bank of Cyprus

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