2012-2013 Annual results presentation
- 2. Avanquest: 30 years of experience • September 26, 2013 2Annual results 1984-1995 Sales €100K - €3M 1996-2005 €3M - €55M Birth of an International Publisher 2005-2010 €55M - €88M Creation of a world leader 2010-2013 €88M - €101M Shift towards Online Liftoff
- 3. Sales stable at €100M 3 120 110 100 90 80 70 60 50 40 30 20 10 Sales (€M) • September 26, 2013Annual results
- 4. An opportunity to start a new cycle STRONG EXPERIENCE IN ALL THINGS DIGITAL • Software Engineer by Training (Telecom Paris) • 10 years with Apple in California as Product Manager • 15 years with High-Tech start-ups A “serial entrepreneur” background • Founder of TempoSoft, supplier of RH Intranet applications • Founder of Navendis, Internet taxi service Professor of management at the Ecole des Mines – Paris Tech 4 Pierre Cesarini CEO Bruno Vanryb Chairman of the Board • September 26, 2013Annual results
- 5. A Group with major advantages 5 A world leader in B2C software publishing serving 11 million active customers A stable Group with sales of over €100M for the past six years 80% of sales made internationally nearly half in the United States 500 employees worldwide in seven countries from Paris to Shanghai by way of Los Angeles Including 100 in Research & Development in France, China, USA, UK • September 26, 2013Annual results
- 6. USA: 44% of sales 6 20% 40% 23% 17% France United States UK Other countries The Group enjoys real predominance internationally 2011-2012 • September 26, 2013Annual results 17% 44% 22% 17% France United States UK Autres pays 2012-2013
- 7. Online: 45.5% of sales 7 40 % 40 % 20 % Offline Online B2B 2012-20132011-2012 Since 2009, 30 million euros in offline sales compensated by new Online activities in high-growth sectors • September 26, 2013Annual results 45,5 % 34 % 20,5 % Offline Online B2B
- 8. Strong positions in key segments 8 19.6 million euros in sales in 2012-2013 650,000 software products sold each year 2,000,000 applications already downloaded 20 sites in 7 languages covering 150 countries A worldwide network of 3,500 affiliates and partners 2 million visits every month 55 million e-mails sent each month E-commerce 11.3 million euros in sales in 2012-2013 Growth of 41% worldwide and 65% in the USA A galaxy of sites for printing photos in various formats (cards, canvas, skins, etc.) New sites coming soon, especially in 3D Web-to-Print Hosting services • September 26, 2013Annual results 6.3 million euros in sales in 2012-2013 Growth of 43% A strong presence in the United States with international deployment under way
- 9. The start of a new cycle 9 Today the shift to Online is a reality for Avanquest Today we need to start a new cycle and a new strategy Putting the company back in a growth phase above the €100M threshold Sustainably and permanently developing the Group's profitability • September 26, 2013Annual results
- 10. Stable financial indicators 10 0 20 40 60 80 100 2012-2013 €100.2M€101.3M 2011-2012 -2 8 18 28 38 48 58 2011-2012 2012-2013 €- 1M€0.8M €57.9M €56.9M 0 Sales Gross margin - EBIT • September 26, 2013Annual results
- 11. Simplified Income statement 11 In €M 2012-2013 2011-2012 Sales 100.2 101.3 Gross margin 56.9 57.9 % of sales 56.9% 57.2% Other operating expenses 57.9 57.1 Current operating income -1.0 0.8 Depreciation of goodwill -60.0 - Non-recurring items -4.2 -3.5 Financial result -1.5 -0.8 Net taxes and misc. 0.9 -0.3 Net earnings -65.7 -3.8 • September 26, 2013Annual results
- 12. Consolidated financial statements Assets (in €M) At 06/30/13 At 06/30/12 Goodwill 58.9 122.4 Other noncurrent assets 10.8 19.4 Current assets 22.9 25.9 Cash and cash equivalents 4.8 6.3 Total ASSETS 97.4 174.0 12 Liabilities (in €M) At 06/30/13 At 06/30/12 Owners' equity 35.7 104.3 Minority interests 1.2 2.1 Noncurrent liabilities 28.6 17.9 Current liabilities 31.9 49.7 Total LIABILITIES 97.4 174.0 • September 26, 2013Annual results
- 13. A new strategy 13 The digital market is still a market with incredible opportunities Worldwide, Avanquest has real strength in this area We are currently developing a new strategy: 1. Putting product and innovation back at the core of the Group's strategy 2. Refocusing on high-potential and emerging areas 3. Proposing unique solutions in which we can be leaders 4. Reorganizing, simplifying, focusing the Group around these sectors We will introduce this new strategy in early December • September 26, 2013Annual results