INVESTORS DAY. Madrid, November

Transcription

1 INVESTORS DAY Madrid, November

2 Legal Notice DISCLAIMER This document has been prepared by Bodaclick, S.A. exclusively for use during the presentation of financial results of the 2010 fiscal year. As a consequence thereof, this document may not be disclosed or published, nor used by any other person or entity, for any other reason without the express and prior written consent of Bodaclick, S.A. Bodaclick, S.A. does not assume liability for this document if it is used with a purpose other than the above. Except for the financial information included in this document (which has been extracted from the financial statements of Bodaclick, S.A. corresponding to the first half for the year 2011), the information and any opinions or statements made in this document have not been verified by independent third parties; therefore, no express or implied warranty is made as to the impartiality, accuracy, completeness or correctness of the information or the opinions or statements expressed herein. Neither Bodaclick, S.A. nor its subsidiaries or other companies of the Bodaclick Group or its affiliates assume liability of any kind, whether for negligence or any other reason, for any damage or loss arising from any use of this document or its contents. Neither this document nor any part of it constitutes a contract, nor may it be used for incorporation into or construction of any contract or agreement. Information in this document about the price at which securities issued by Bodaclick, S.A. have been bought or sold in the past or about the yield on securities issued by Bodaclick, S.A. cannot be relied upon as a guide to future performance. IMPORTANT INFORMATION This document does not constitute an offer or invitation to purchase or subscribe shares, in accordance with the provisions of the Spanish Securities Market Law (Law 24/1988, of July 28, as amended and restated from time to time), Royal Decree-Law 5/2005, of March 11, and/or Royal Decree 1310/2005, of November 4, and its implementing regulations. In addition, this document does not constitute an offer of purchase, sale or exchange, nor a request for an offer of purchase, sale or exchange of securities, nor a request for any vote or approval in any other jurisdiction. The shares of Bodaclick, S.A. may not be offered or sold in the United States of America except pursuant to an effective registration statement under the Securities Act or pursuant to a valid exemption from registration. Note: The use of the term SALES refers to Adjusted Sales ; the use of the term EBITDA refers to Adjusted EBITDA Ex-HQ 1

3 Summary 1. Global overview 2. Bodaclick Brazil 3. LATAM region 4. Europe: Spain, Italy, Portugal & Poland 5. New projects and perspectives 2

4 1. Global Overview

5 3 key reasons to invest in Bodaclick I. Significant annual growth in niche market and dominant position in Spain I. Amazing potential in new markets IV. Business Model based on ROI 4

6 I. Significant annual growth and dominant position in Spain Spain: growing +14% in 1H % of weddings Brazil grows 350% yoy 56% of sales outside Spain in 1H2011 International sales growing 54% yoy 44% International Sales 56% Total Sales % +29% % España Italia Portugal Mexico Caribe Brasil Polonia Total 5 1S2010 1S2011

7 III. Amazing potential in new markets Nº of advertisers More than 14,000 advertisers Clientes Activos until September ,496 3, , , Spain P. Rico Portugal Italy Mexico DO Brazil Poland

8 IV. Business Model based on ROI We charge clients on a real business basis Our tracking system identifies implicit profitability of fees First mover advantage Ability to reproduce the model in a new country Customize the Web in a Month Time Recruit Local Sales force 12 Month contracts, payable 145 days after signature Renew contracts with incremental ARPA Promote local talent to delegate the management 7

9 How s the business rolling? Bodaclick Spain: Double digit solid growth E-Commerce: Keeps undertaking its strategic changes Italy: Outperform estimations in margins Poland: Redimensioning the market expectations Mexico: Irregular performance in 2011 but on the right path Brazil: Outstanding growth New projects to continue Bodaclick s development 8

10 2. Bodaclick Brazil

11 Bodaclick Brazil Huge Brazilian market size: more than 192 million people Significant wedding market: R$10 bn in 2010 (around 4,35 bn ) vs weddings in Spain in 2010 Outstanding sales progression in 1H2011: 350% 10

12 Nº of visits Spectacular market penetration , , , , , , , , , , , , , , ,928 98, Website visits in Brazil until October 2011

13 Outstanding sales progression % H H

14 Brazil: Plan The size of Brazil needs to dimension the market as a continent Different scale in terms of investment and timing to occupy the market Challenge: to build a local strategy where growth and cost efficiency coexist, in an overheated market with huge potential In ,000 Brazilian brides will organize their wedding on our Website 13

15 3. LATAM region

16 MEXICO New strategy since last quarter 2010 Special focus on consolidating existing markets and sales team Unification of commercial ressources (new business + renewals) Key account managers bear more responsibility in contract renewal Significant investment in sales force in 2011 to manage our huge client database Geographical distribution of commercial resources 15

17 MEXICO progressive sales growth 1H2010 / 1H % 1 2 1H2010 1H

18 CARIBBEAN Dominican Republic & Puerto Rico sales growth 1H2010 / 1H % H H

19 4. Europe

20 Perspectives for Consolidated Europe Reaching our EBITDA budgets in Spain and Poland Overperformance expected in Italy Slight negative deviation in Portugal due to talent export Good perspectives in double digit growth Cost control and cost efficiency to generate margins 19

21 Bodaclick in Europe Spain Italy Portugal Poland 20

22 SPAIN Advertising: Double digit growth expected for 2011 Significant margins improvement in 2012: delocalization of Call Center (C.A.R) in Uruguay Eventoclick: Sustained growth of a consolidated product Impressive upturn of margins E-Commerce: Keep reducing losses (50% cost cutting, lighter structure) More impact of economic crisis affecting consumption 21

23 ITALY Italy will reach sales expectations in FY2011 Strict expenditure control: well dimensioned structure Strong middle management team Overperform estimations in margins: +18% in 1H2011 Should impact in BODACLICK valuation: In the path of replying margins of Spanish proxy 22

24 ITALY Overperform estimations in margins in 1H % 10% +18% 8% 6% 4% 2% 0% 1H2010 1H

25 PORTUGAL Highly hostile environment in 2012 Anticyclical Business Model and Industry: Portugal will achieve sales objectives despite economic crisis Reactivation of the market after changes in the local team No significant investments foreseen for 2012 Great margins in 3Q2011 of around 25% 24

26 POLAND Strategic position of Poland for Eastern European countries First non Latin market to be opened First impression is Poland to be smaller than expected, brides interacting in a less active way. But everything working Breakeven expected in 4th year Investment expected for next 2 years of 0,7m until reaching breakeven Sales forecast for next years: 2011: 0.5m ; 2012: 0.7 1m 25

27 5. New projects & perspectives

28 Many milestones achieved Bodaclick was the first online company to provide wedding lists transforming the commerce Industry into Ecommerce One of the unique companies in Spain to survive from the bubble explosion Bodaclick created the idea of a virtual mall in each city for couples to organize their wedding with local vendors. Our platform technology developed to track the real business we were generating to the vendors First company in the sector to become a multinational (8 countries) Only Internet company quoted in the Spanish Stock exchange 27

29 Opening new markets Hostile environment in Europe with turbulences in the markets make us be cautious about new openings in 2012 Big countries like Brazil appear to be a continent rather than a country ( weds vs in Spain). Lower risk to continue expansion in this market Forecast of one new opening next year Give some time for the projects to consolidate before attacking new markets 28

30 What comes next? A second revolution is taking place in the Internet environment: Social Networks, audiovisual content, ecommerce, multidevice reality Many new opportunities for upsides Always prepared for hitting first! Great talent, great team, thinking heads Multidevice reality: desktop, smart phones, tablets: putting everything together will increase the efficiency in the business funnel conversion Different projects we are investigating and will be investing for next year: Social Networks & Communities Mobile apps Website improvement. Streaming E-Commerce 29

31 Conclusions Good performance of Spanish proxy growing at double digit Nice margins being already generated in consolidated markets Further consolidation needed in other high growth markets like Mexico with good perspectives for 2012 Solid performance of European countries: anticiclic Industry Huge opportunity in Brazil s growth, combined with a new opening in 2012 Different projects to generate upsides in 2 nd Internet Revolution: Social Networks & Communities Mobile apps Website improvement. Streaming E-Commerce 30

32 Thank you very much!