Deutsches Eigenkapitalforum 2009

Transcription

1 Deutsches Eigenkapitalforum 2009 November 9th 2009 Speaker: Florian Seubert, CFO

2 zooplus at a glance undisputed online leader within Europe s 17 bln pet supplies market 3 key parameters lie at the core of zooplus success Critical mass based upon loyal customers and recurring demand structures Continuing and dynamic growth (average : 50% p.a.) Highly scaleable pan-european operations backbone European expansion and market penetration Delivery on zooplus earnings potential Key strategic focus for After an initial Entry Standard Listing in May 2008, zooplus AG was admitted to Deutsche Börse s Prime Standard on October 21st

3 Sales and Customer Profile Sales, mm (actual) 85 Customer Account acquisition, Germany / H109 H International / H / H108 H H109 DE 71 % Sales (origin), H FR 11 % UK 8 % Others 10 % 98 Customer loyalty: average annual spending/ account from acquisition year onwards* *data sample:

4 The market opportunity rest of Europe 5.0 bln 3.1 bln Germany specialty franchise 10 % diy/garden 6 % online <1 % specialty retail 25 % 1.3 bln Benelux 3.2 bln France a large niche market 3.5 bln others 8 % UK highly fragmented supermarkets 50 % 120 mm EU households ~ 35 % of which are pet-owners exploding online demographics (access + shopping habits) superb growth opportunities Largest food/non-food selection convenient door-step delivery competitive overall pricing best-in-class service clear online customer USPs 4

5 A strong competitive position clear market leadership in all core EU markets 20:1 versus European No. 2 30:1 versus German No. 2 (local sales only) 5:1 versus French No. 2 (local sales only) 2:1 versus UK No. 2 (local sales only) zooplus only significant player in NL, IT, ES Oxford Tilburg Kassel soft factors 10 years head-start proprietary know how customer base and loyalty brand equity Significant barriers to entry hard factors size and growth momentum existing logistics/sourcing/ IT backbone intrinsic scale effects from operations private label range Strasbourg München Timisoara Tiblissi 5

6 Key strategic initiatives External Keep our edge in terms of growth and market leadership (maintain existing growth channel) Reach critical size in all core EU markets (sales per country mm) Deliver best-in-class performance everywhere in Europe (product/price/delivery) Internal Transform zooplus into a truly pan-european organisation Fully leverage our international set-up (Ger, F, UK, NL, Rom, Gg) Realize business intrinsic efficiency and scale effects whilst continuing a clear growth trajectory Over the medium term, zooplus aims to achieve a revenue bracket of around mm in tune with pre-tax earnings of around 6-8% of total sales 6

7 Financials: Overview In the short to medium term, zooplus will continue to prioritize growth over short term earnings maximization. We believe this to be the most value-maximizing strategy was a year of contrasts so far: whilst we managed to achieve all-time records in terms of growth, customer acquisition and international expansion, earnings were hit by the worst consumer recession since WWII and the weak GBP. Significant one-off invests (Prime Standard Listing and new international logistics hub) will take zooplus onto a wholly new level. We believe that in retrospect 2009 will be seen as a crucial year of successful transition from a primarily Germany-focused company to a truly European leader. 7

8 Historic Earnings and Net Profit Momentum Ebit,*mm 2,7 0, , Net Profit, mm 5,8 0, , Earnings per Share (diluted), 2,29 0, , * Ergebnis der ordentlichen Geschäftstätigkeit vor Aufwendungen des Börsengangs 8

9 Earnings Breakdown and Key Drivers H H figures* 100% 60,7% 22,4% 1,0% 6,7% Sales COGS Logistics Payment Marketing Personnel CC/G&A Depreciation Ebit 5,0% 4,6% 0,4% -0,8% * rounded 9

10 Key Balance Sheet Components (June 2009) all in, mm Assets Liabilities Long-Term-Assets 6,5 Equity 9,4 (Equity Ratio: 35%) Inventory 11,0 Short-Term debt 7,9 Receivables 5,5 Cash 0,6 Others (incl. VAT) 3,0 26,6 Financial debt 4,6 Others (incl. VAT) 4,7 26,6 10

11 Key takeaways Huge market opportunity Clear market leadership Highly dynamic growth Significant earnings potential Developing capital markets presence 11

12 Annex 1: Shareholder structure and capital markets profile Listed on Frankfurt Stock Exchange/Entry Standard since May 2008 ( 26,00) Relisted onto Prime Standard on October 21st 2009 ( 29,50) 7,07 % 18,41 % 9,79 % 17,49 % Shareholder Structure (Oct. 22nd 2009) 22,71 % 9,24 % 15,29 % Bearer Shares Mkt. Cap approx. 70 mm ( 29,00) Trading range 2008/09: 24,00 34,00 approx. Burda Digital Ventures GmbH Free Float Management Fidelity International Key Metrics BDV Beteiligungs GmbH & Co. KG European E-Commerce Fund LP European E-Commerce Fund B LP 12

13 Annex 2: zooplus corporate structure Active corporate presence in 4 key EU markets Munich/Germany: Corporate Headquarter Kassel/Germany: German Logistics Hub Oxford/UK: Headquarter UK and International business Strasbourg/France: Headquarter France Tilburg/Holland: European Logistics Hub Multi-level corporate organizational structures zooplus AG: parent holding company (FSE: ZO1) + four fully-owned national and international subsidiaries major outsourcing operations in Romania and Georgia Pan-European staff of more than 100 FTE (excluding logistics and customer services) 13

14 Annex 3: Financial Calendar/Contact Financial Calendar Quarterly report q November 30th, 2009 Preliminary FY 2009 revenues January 29th, 2010 Annual Report 2009 March 31st, 2010 Preliminary q revenues April 29th, 2010 Annual General Meeting 2010 May 2010 Quarterly report q May 31st, 2010 Investor Relations Contact zooplus AG Investor Relations Sonnenstraße München Germany Tel.: Fax.: Mail: Web: 14