COMPANY PRESENTATION. Deutsches Eigenkapitalforum 2012 Dr. Cornelius Patt, CEO

Transcription

1 COMPANY PRESENTATION Deutsches Eigenkapitalforum 2012 Dr. Cornelius Patt, CEO

2 SAFE HARBOR STATEMENT This document includes supplemental financial measures that are or may be non-gaap financial measures. These supplemental financial measures should not be viewed in isolation as alternatives to measures of zooplus financial condition, results of operations or cash flows as presented in accordance with IFRS in its Consolidated Financial Statements. Other companies that report or describe similarly titled financial measures may calculate them differently. This document contains statements related to our future business and financial performance and future events or developments involving zooplus that may constitute forward-looking statements. We may also make forward-looking statements in other reports, in presentations, in material delivered to stockholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of zooplus management, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond zooplus control, affect zooplus operations, performance, business strategy and results and could cause the actual results, performance or achievements of zooplus to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or anticipated on the basis of historical trends. Further information about risks and uncertainties affecting zooplus is included throughout our most recent annual and interim reports, which are available on the zooplus website, Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of zooplus may vary materially from those described in the relevant forward-looking statement as being expected, anticipated, intended, planned, believed, sought, estimated or projected. zooplus neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. EK-Forum

3 AGENDA Overview Strategy Set-up & operations Key financials Outlook Investment highlights Annex EK-Forum

4 OVERVIEW Dominant b-to-c online player (10:1) within 22 bln EU pet supplies market Target market: 480m people, 55m pet-keeping households, stable growth (2-3% p.a.), rapid online migration, highly fragmented market structure Track record: Target 201X: From German start-up (2000) to 400 mm in total sales (2013) across Europe Building a 1 bln company within this decade Delivering sizeable returns along the way 1 bln 5-7 % RoS 400 mm Break-Even X X Total Sales* Pre-tax earnings potential (of sales)* zooplus is listed on the Frankfurt stock exchange (Prime Standard SDAX) Current market capitalisation stands at ~ 200 mm (= EV) * forecast EK-Forum

5 STRATEGY Drive organic growth Strengthen our market grip Pull all earnings-levers Customer Account acquisition, k Mkt. Share % Growth p.a. Earnings Upside potential X Germany * International * Operational Earnings* ES IT 8% 15% + D+ NL F 5% 40% 0 UK 3% 40% 0 1-2% 25-50% Market penetration level* Margin upside private label phase-in mix/pricing optimisation Growth/Earnings trade-off long-term deleveraging from current growth rates Built-in scale effects Logistics fixed base Personnel costs G&A +2/3 % +2 % +2 % Total sales up 20x since 2004 Reach critical mass across the EU Realize maximum intrinsic EBT * estimates EK-Forum

6 SET-UP & OPERATIONS A European backbone An ever-tighter grip on the customer Tilburg Oxford (FC-XL) Hörselgau (FC-XL) Krakow FC Strasbourg Munich Sites Potential Consumers (pet-keeping) x* DE, AT EU EU + ~ 30 mm ~ 130 mm ~ 200 mm Madrid Genoa Next-Day Delivery 30% 50% 85% An efficient network of delivery + service hubs across the continent First class customer experience (speed, quality, range) ever wider in scale and scope * Forecast Unrivalled geographic access and customer lock in across Europe result in a highly defensible market position and huge future potential EK-Forum

7 KEY FINANCIALS Investing in growth since M 2012 key financials Total Sales, mm P & L abs (mm) % Total Sales % COGS % Investing in growth: + 28% yoy 194 Logistics % * 13 * 60.6 Total sales and net earnings q-o-q 2011/12 Total sales in EUR mm Net profit in EUR mm Q1 Q2 Q3 Q4 Q1 Q2 Q Payment, Customer Care % Customer Acquisition % Personnel % G&A % Ebitda % Ebit % Net Result % Balance Sheet Total Assets % Equity (Ratio) % Cash Flow CF from Operations na. Successfully scaling operations Solid balance sheet and financing * Forecast EK-Forum

8 OUTLOOK 2013: total sales of 400 mm + x and positive overall earnings 2014: total sales of ~ 500 mm on significant earnings step-up y-o-y 201X: reaching total sales > 1 bln within the current decade, generating at least 1% (abs.) EbT uptick p.a. from 2013 onwards establishing zooplus as the No. 1. European pet supplies retailer EK-Forum

9 COMPANY HIGHLIGHTS Large, growing and highly attractive target market Dominant and highly defensible competitive position Superior long-term earnings potential Sustainable and convincing customer value proposition Strong financial basis and management delivery track record creating lasting shareholder value EK-Forum

10 Thank you for your kind attention EK-Forum

11 ANNEX Financials 9M 2012 EK-Forum

12 SHAREHOLDER STRUCTURE Jan. 1st, 2011: Oct. 31st, 2012: % Market capitalization ~ 200 mm Jan. 1st, 2011 Oct. 31st, % 2.81 % 5.90 % % % % Strong traction with international investor base Significant increase in trading volume and volatility 8.60 % % % 1 Burda Digital Ventures GmbH 2 Others (Incl. Mgmt) 3 BDV Beteiligungen GmbH & Co. KG 4 Burda GmbH 5 Capital Research 6 The Nomad Investment Partnership LP 7 Ruane, Cunniff & Goldfarb Inc. 8 Wasatch Advisors 9 Burda (others) ** * According to the definition of the Deutsche Börse the free float amounts to % ; according to published voting rights notifications and information by investors ** as of Oct. 31st, 2012 EK-Forum

13 BALANCE SHEET 9M 2012 Assets in EUR Sept. 30th, 2012 Dec. 31st, 2011 A. LONG-TERM ASSETS I. Property, Plant and Equipment 705, ,785 II. Intangible assets 426, ,602 III. Financial assets 13,000 20,000 IV. Deferred tax assets 8,584,318 7,550,265 Total long-term assets 9,729,421 8,896,652 B. SHORT-TERM ASSETS I. Inventory 30,873,628 25,534,581 II. Advance payments 2,446, ,741 III. Accounts receivable 9,170,434 6,357,964 IV. Other short-term assets 6,028,682 10,021,266 V. Cash in hand and cash equivalents 5,297,262 23,466,124 Total short-term assets 53,816,724 66,196,676 Total assets 63,546,145 75,093,328 Equity and Liabilities in EUR Sept. 30th, 2012 Dec. 31st, 2011 A. EQUITY I. Capital subscribed 6,100,639 5,631,138 II. Capital reserves 49,213,570 29,565,812 III. Payments for capital increase 0 19,670,996 IV. Other reserves -205,874 11,246 V. Profit and Loss carried forward -21,340,833-19,356,695 Total equity 33,767,502 35,522,497 B. LONG-TERM LIABILITIES Deferred tax liabilities 22,953 59,910 C. SHORT-TERM LIABILITIES I. Trade Liabilities 15,046,175 11,386,286 II. Financial debt 2,000,000 16,000,000 III. Derivative financial instruments 349, IV. Other short-term liabilities 9,245,259 9,433,651 V. Tax liabilites 176, ,611 VI. Provisions 2,938,032 2,478,374 Total short-term Liabilities 29,755,690 39,510,921 Total Equity and Liabilities 63,546,145 75,093,328 EK-Forum

14 PROFIT & LOSS 9M 2012 in EUR 9M M 2011 abs. % abs. % Sales 226,826, % 176,379, % Other income 10,932, % 8,744, % Total sales 237,758, % 185,123, % Cost of materials -151,385, % -113,994, % Personnel costs -10,775, % -9,054, % of which cash (-10,329,661) -4.3% (-8,607,267) -4.6% of which non-cash (-446,023) -0.2% (-446,899) -0.2% Depreciation -520, % -560, % Other expenses -77,725, % -69,356, % of which logistics / fulfillment (-54,736,065) -23.0% (-46,276,155) -25.0% of which marketing (-11,699,266) -4.9% (-11,626,259) -6.3% of which payment (-2,395,673) -1.0% (-1,911,546) -1.0% Operating income -2,647, % -7,841, % Financial income 30, % 4, % Financial expenses -68, % -848, % Pre-tax profit -2,685, % -8,685, % Taxes on income 701, % 2,748, % Consolidated net profit -1,984, % -5,937, % Currency translation 16, % -8, % Hedge Reserve -234, % % Overall result -2,201, % -5,945, % EK-Forum

15 CASH FLOW 9M 2012 (excerpt) in EUR 9M M 2011 Cash flows from operating activities Earnings before taxes -2,685,413-8,685,693 Allowances for: Depreciation 520, ,441 Non-cash personnel costs 446, ,899 Other non-cash expenses -95,942-21,890 Financial expenses 68, ,416 Financial income -30,785-4,437 Changes in: Inventories -5,339,047-4,871,355 Advance Payments -1,629,976 1,441,563 Trade receivables -2,812, ,820 Other current assets 3,992,583 3,610,998 Trade payables 3,659,889-4,628,553 Other liabilities -188,391-2,444,599 Provisions 459, ,362 Taxes on income -136, Interest received 30,785 4,437 Cash flows from operating activities -3,740,948-13,333,619 Cash flows from investing activities Payments from disposals of property, plant and equipment/intangible assets ,219 Acquisition after deduction of acquired cash and cash equivalents ,323 Payments for financial investments -3,000-10,000 Payments for property, plant and equipment / intangible assets -356, ,809 Cash flows from investing activities -359, ,267 EK-Forum