IBEX Global Solutions plc

Transcription

1 IBEX Global Solutions plc Preliminary Results October 2013 Slide 1

2 IBEX Global Presentation team Steve Kezirian CEO Joined IBEX in 2011 COO Cantor Gaming Harvard BA Harvard MBA Karl Gabel CFO Joined IBEX in 1997 VP Finance, Telespectrum Penn State BS St Joseph s MBA Steve has over 17 years of management experience with a focus on customer operations. At Cantor Gaming he was responsible for the firm s technology, sales and operations teams, helping drive the growth from a single-site operation into a multilocation, distributed operating environment. Previously, he served as the youngest VP/GM at Sprint Nextel, where he was responsible for all phone-based sales and sales support operations with a global workforce of over 5,000 in seven countries. Steve has also served in various positions at Morgan Stanley, McKinsey, Tickets.com and JH Whitney.. Karl has over 15 years of experience in the contact centre industry, commencing with his first role in 1997 as a Director of Revenue at TeleSpectrum, a predecessor company to IBEX. Prior to joining TeleSpectrum, Karl spent approximately 7 years at SEI Investments where he held various Accounting roles. Karl has passed the Commonwealth of Pennsylvania Certified Public Accounting Examination. Slide 2

3 Overview Global call centre outsourcer 1 We provide inbound technical support and customer care call centre operations and other outsourced business processes to blue chip clients 2 Our agent quality, technology, and client relationships are driving rapid market share growth 3 The $58 billion global outsourced market is fragmented with the largest competitor possessing a 5% market share Q3 financials are reviewed not audited; fiscal year ends June 30. Slide 3

4 Enterprise call flow management Calls Sourcing Vendor Allocation Technical Support Product Order Inhouse Legacy process Union constraints Control Billing Questions Champion vendor Change Reservations Service Cancellation Other Outsource Quality Cost Innovation Flexibility 20% - 50% share Performance & Trust Challengers Typically 2 to 5 50% - 80% share Diversification & Innovation Pricing structure ~90% denominated in units of time ~10% based on performance Slide 4

5 Market $58bn on track to grow to $73bn by 2016 Global contact centre market: $234 billion Inhouse $176bn (75%) Outsourced $58bn (25%) United States $28bn Rest of World $30bn Quality and cost efficiency driving 5.7% CAGR in global outsourced market through 2016 Sustained labor arbitrage driving offshore segment growth of 12% US outsourced contact centre market Consolidation opportunity with largest global provider having revenues of $2.9 billion and 20 th largest at $400 million Service Location Onshore $23.5bn (84%) Offshore $4.5bn (16%) Client Industry Mix TMT & Financial Services $18bn (65%) Other $10bn (35%) Telecommunications and financial services are largest sectors today Utilities, healthcare, and travel represent significant growth opportunities Note: All data represent expected 2012 figures unless noted otherwise. Source: International Data Corporation. Slide 5

6 Global presence 8,000 employees, 15 locations pdfpad.com/flags/ United Kingdom 50 Bristol United States 250 Beckley, WV 550 Bend, OR 400 Charleston, WV 250 Elkins, WV 600 Hampton, VA 100 Indiana, PA 400 Pittsburgh, PA 1,200 Spring Hill, TN Senegal 400 Dakar Pakistan 1,300 Karachi 300 Lahore Philippines 400 Manila (Fort Bonifacio) 900 Manila (Ortigas 1) 800 Manila (Ortigas 2) Employee numbers per site are approximate Slide 6

7 Growth strategy 1 Grow core North American existing customers 2 Target one new corporate customer per quarter 3 Expand European presence with United Kingdom beachhead 4 Grow outside voice such as chat and managed services 5 Consider acquisition opportunities for new industries or geographies Slide 7

8 Execution drives growth Selection Training Compensation Culture Agents Agent Tenure & Cost KPI Performance Ops Metrics Accountability Costs IBEX High Quality Cost Efficient Scalable Proprietary Scalable Reliable Supportable Tech System Uptime & Cost Growth & Profitability Clients Relationship depth Communication Referenceability Slide 8

9 Results Operational Highlights Customer base enhanced: extension of existing relationships and new wins Completed in-house development of critical software platforms necessary for staffing optimisation and overall operational efficiency New site facilities opened in New Braunfels, Texas and Davao, Philippines within the last 30 days Strengthened management team, specifically within client services, human resources and technology Employee stock option plan launched, incentivising key staff throughout the Group Number of employees as of 30 June 2013 in excess of 8,000, up approximately 30% on the same period last year Slide 9

10 Results Financial Highlights Total group revenue up 34% to $141.5m (2012: $105.4m) Adjusted EBITDA of $4.6m (2012: $0.9m) Net debt (cash and cash equivalents and net receivable of IPO proceeds, less third party borrowings) at the period end was $2.9 million (2012: $11.4 million) Successful IPO on AIM raised approximately 10.7m before expenses Slide 10

11 Results P&L Highlights Slide 11

12 Results Balance Sheet Highlights Slide 12

13 Results Outlook Existing customer relationships continue to grow stronger, supplemented by new wins Increased profile and now well funded post IPO Fragmented global market leaves potential for expansion as geographic presence extends Employee numbers continue to grow Business is scalable and we are ready to exploit the operating leverage in the business Slide 13

14 Appendix Slide 14

15 Board and senior management Zia Chishti Non-executive Chairman Chairman & CEO The Resource Group Columbia AB; Stanford MBA Zia represents The Resource Group s 85% interest in IBEX. Zia has served as the Chairman & CEO of Align Technology (NASDAQ: ALGN) which he led from inception to a $500+ million public valuation. Prior to Align, Zia worked in executive positions at Morgan Stanley and McKinsey. Zia serves on multiple corporate and non profit boards, including as Chairman of the Board of Digital Globe Services, an AIM listed company. John Leone Non-executive Director MD Pinebridge Investments SUNY Binghamton BA, GWU JD As a Managing Director at Pinebridge, John works on sourcing, negotiating, and executing private equity transactions in Europe, Latin America, the Middle East, and Africa. Prior to taking this role, John was General Counsel of Pinebridge Investments Emerging Markets Private Equity operations. Earlier in his career, John was an attorney at Kirkland & Ellis where he focused on advising private equity clients. John serves on several private and public company boards. Tim Kelly Non-executive Director Independent Consultant Florida BS, Nova MBA Tim was the CEO of Network Solutions from 2009 through its sale in Prior to that served in various executive roles at Sprint, including President of Sprint Consumer Solutions, President of Customer Management, and Chief Marketing Officer. Earlier in his career Tim was an advertising executive with Partners and Shevack and with D arcy Masius Benton & Bowles. Mohammed Khaishgi Non-executive Director COO, The Resource Group EME College BS, Oxford MA, Harvard MBA Rhodes Scholar Greg Rajchel SVP Operations Joined IBEX in 2004 VP Operations, Reese Brothers Slippery Rock BA Jimmy Holland General Counsel Joined IBEX in 2010 General Counsel, TeleTech Louisiana State BS/MA, Vanderbilt JD Mohammed has over 20 years of experience in technology, media, and telecommunications business and in BPO operations and is responsible for the day to day oversight and operations of TRG s entire portfolio of BPO and BPO-related businesses. Earlier Mohammed was responsible for global CRM operations for Align Technology where he oversaw a distributed set of onshore and offshore facilities. Prior to joining Align, Mohammed was responsible for the International Finance Corporation s investments in the Asian TMT sector. Greg brings more than 16 years of leadership experience within the BPO space. His understanding of the business helps to proactively maintain a solution focused environment and is a strong believer in the voice of the customer. Greg have been part of IBEX since the acquisition of Reese Teleservices, Inc. in 2004, where he worked for 7 years holding various leadership positions in operations and client management. Jimmy has significant experience in the contact centre industry and was previously General Counsel of TeleTech Holdings, a top 5 outsourced contact centre provider. Jimmy also has significant experience in private equity as well as in debt and equity transactions and restructurings during his time in private practice. He has counseled executive management and boards of directors on legal, fiduciary and governance matters. Slide 15

16 IBEX corporate structure IBEX Global Solutions Plc UK Holding Company 100% IBEX Philippines Philippines Services Company Provides offshore services 100% IBEX Senegal Senegal Services Company Provides offshore services IBEX Global Pvt Ltd Pakistan Services Company Provides offshore services IBEX Luxembourg Tax advantaged structure IP Licensing Entity IBEX Cyprus Tax advantaged structure Offshore Billing Entity IBEX Global Solutions PH Philippines Services Company Provides offshore services IBEX UK UK Operating Company Holds Key UK Contracts IBEX US US Operating Company Holds Key US Contracts 100% IBEX Canada Virtual World Pakistan Operating Company Holds Key PK Contracts Licensing and Billing Offshore Service Cost centres Holding Company Revenue / profit centres Note : Abbreviated or proposed names of companies intended to form the Group structure at Admission Slide 16

17 Disclaimer These presentation slides (the "Slides") do not comprise an admission document, listing particulars or a prospectus relating to IBEX Global Solutions Limited (to be re-registered as IBEX Global Solutions PLC) ("the Company") or any subsidiary of the Company, do not constitute an offer or invitation to purchase or subscribe for any securities of the Company and should not be relied on in connection with a decision to purchase or subscribe for any such securities. The Slides and the accompanying verbal presentation do not constitute a recommendation regarding any decision to sell or purchase securities in the Company. The Slides and the accompanying verbal presentation are confidential and the Slides are being supplied to you solely for your information and may not be reproduced or distributed to any other person or published, in whole or in part, for any purpose. 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The Slides and their contents are confidential and should not be copied, distributed, published or reproduced (in whole or in part) or disclosed by recipients to any other person. Liberum Capital Limited ("Liberum") and Cenkos Securities PLC ("Cenkos"), both authorised and regulated by the Financial Conduct Authority, are advising the Company in their capacity as nominated adviser and joint-broker and joint-broker respectively, and no one else in relation to the proposed placing and admission and will not be responsible to anyone other than the Company for providing the protections afforded to customers of Liberum and/or Cenkos. Any other person should seek their own independent legal, investment and tax advice as they see fit. 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