Tamedia acquires Ricardo Group Christoph Tonini, CEO Zug and Zurich, 10 February 2015
Acquisition of Ricardo strengthens Tamedia s leading position Acquisition of Ricardo Group from Naspers Tamedia is going to acquire Ricardo Group from the South African Media Company Naspers Ricardo Group operates the online marketplace ricardo.ch, the car platform autoricardo.ch, the general classifieds platform olx.ch as well as the Online Shopping Center ricardoshops.ch The purchase price amounts to 240 CHF mn The transaction has to be approved by the Swiss Competition Commission Acquisition strengthens Tamedia s leading position This investment in Ricardo Group serves to strengthen the leading position of Tamedia in the Swiss Online market; portfolio already counts 13 companies, ranging from Doodle, homegate.ch, jobs.ch and Trendsales to Zattoo Tamedia wants to develop Ricardo's core business through networking effects with own media such as 20minuten.ch and to leverage synergies between the rapidly growing general classified platforms olx.ch and tutti.ch Combining autoricardo.ch and car4you.ch will create a strong number 2 in the market for car classified ads 2
Ricardo Group: ricardo.ch as core business, three newer units Ricardo.ch Founded in 1999 Online Marketplace >1 mn monthly C2C listings 2.3 mn registered users Autoricardo.ch Founded in 2009 Car platform Unique features in the car market such as auctions and spare parts market Olx.ch Founded in 2012 General classifieds platform Ricardoshops.ch Founded in 2014 Online Shopping Center 3
Ricardo is by far the leading Swiss ecommerce platform Traffic of leading ecommerce platforms in Switzerland in 1 000 Visits Amazon Digitec Zalando.ch 1,950 microspot DeinDeal Brack.ch Galaxus Nespresso LeShop coop@home nettoshop.ch 340 330 320 230 990 880 740 720 1,400 4,500 4,400 7,200 Key facts ricardo.ch Registered members: 2.3 million New members per day: 1 200 Unique visitors per day: 370 000 Sold articles per day: 20 000 ricardoshops.ch Number of articles on ricardoshops.ch: 2.5 million Number of cars on autoricardo.ch: 100 000 autoricardo.ch Number of sold cars per month on autoricardo: 10 000 Source: Similar web 4
Attractive offers for B2C as well as for C2C customers Total B2C retail market size in Switzerland 2013: CHF 100 Billions Large retailers: 43 percent of B2C retail market Small and medium business: 57 percent of B2C market C2C market 5
Online classifieds Digital: news, market places, services and ecommerce Horizontal and vertical platforms in the digital portfolio Horizontal General classifieds Vertical Real Jobs Cars estate Fashion ecommerce Vintage Fashion Tickets Building & renovation Video Services News Digital advertising & services 6 Participations
Online classifieds Digital: news, market places, services and ecommerce Horizontal and vertical platforms in the digital portfolio Horizontal General classifieds Vertical Real Jobs Cars estate Online market -place Building & renovation ecommerce Fashion ecommerce Vintage Fashion Tickets Video Services News Digital advertising & services 7 Participations
Tamedia: the clear leader in the Swiss Classified market Online Marketplace General Classifieds Car Market Real Estate Job Market 1 st 1 nd 2 nd 1 st 1 st participation 8
An important step on our path towards a digital powerhouse Pro Forma Revenues Tamedia Digital 2014 in CHF million (based on first half of 2014) Tamedia Digital: Number of Employees 23% 25% 23% 28% 77% 75% 77% 67% 250 40 290 810 ~ 200 1,010 Tamedia Ricardo Total Tamedia Ricardo Total Tamedia Digital 9 Number of employees as of end of 2014
Tamedia will finance the acquisition with a bank loan Credit facility for jobs.ch takover fully repaid as ofjanuary 2015 Tamedia is debt free As of closing date: credit facility over 240 CHF mn to finance acquisition Working capital credit over 30 CHF mn Club deal with bank consortium Tamedia repaid the credit facility that had been agreed for the purchase of jobs.ch and is clear of debt as of February 2015 (besides a working capital credit over 30 CHF mn) Tamedia has agreed to reactivate the club deal agreement with the existing bank consortium that covered the purchase of jobs.ch The credit facility with very attractive interest rates will amount to 240 CHF mn and must be paid back within three years 10
Thank you for your attention! 11