Capital Market Day Andrew Pylyp Managing Director Wer liefert was? Stockholm 27. November 2006 Wer liefert was? GmbH Capital Market Day, November 27, 2006 134
Company History Media 1932 Business-to-Business Industrial Print Directory for Professional Purchasers Detailed Product-based Nomenclature with over 45.000 Headings 1986 First CD-ROM 1995 Early Internet Entrance Wer liefert was? GmbH Capital Market Day, November 27, 2006 135
Company History Geographic Coverage Operations: 1988 Austria 1989 Switzerland 1992 BeNeLux 1995 Czech Republic, Slovakia, Croatia and Slovenia Operations Alliances Databases Alliances: 1998 United Kingdom 2001 Sweden and Finland Databases: 1998 Italy and France Wer liefert was? GmbH Capital Market Day, November 27, 2006 136
Company Repositioning 2004 Major Repositioning of Wer liefert was? Initiated: Discontinuation of Offline Products Supplier Search Engine International Geographic Focus National Target Market Extension Wer liefert was? GmbH Capital Market Day, November 27, 2006 137
Pre-Repositioning Advertising Customers Germany (#) 24.795 23.357 22.650 22.000 2000 2001 2002 2003 Wer liefert was? GmbH Capital Market Day, November 27, 2006 138
Market Research Online Regional / National Precise Wer liefert was? GmbH Capital Market Day, November 27, 2006 139
Strategic Positioning To the B2B Advertiser Wer liefert was? is a Supplier Search Engine which is suitable for Directional Online Advertising because it is used by Purchasers for supporting Commercial Purchasing Decisions and offers only Qualified Contacts because of its precise search capability. Wer liefert was? GmbH Capital Market Day, November 27, 2006 140
Migration Challenges WLW Pre- Migration GAP Online Growth Model (1) No clear Positioning / diluted Identity Clear Positioning / focused Identity (2) User Service: Industrial B2B - Portal Comprehensive B2B - Search Engine (3) Vast Variety of Customized Offerings Limited # of Self-explanatory Offerings (4) Single Sales Channel Multiple Sales Channels (5) Customized Workflow Highly Automated Workflow (6) Functional Organization Structure Process Oriented Organization (7) Integrated European Presence Network of National Presences Wer liefert was? GmbH Capital Market Day, November 27, 2006 141
Performance Indicators Productivity Improvement Usage Multiple Sales Channels Conversion Rates Customer Base Financials Wer liefert was? GmbH Capital Market Day, November 27, 2006 142
Productivity Improvement Elimination of Order Processing Department Customers per (Order Processing) Employee 6.975 7.150 788 2004 2005 2006 Wer liefert was? GmbH Capital Market Day, November 27, 2006 143
Productivity Improvement Discontinuation of Non-Core / Non-Profitable Operations Operations Alliances Databases Wer liefert was? GmbH Capital Market Day, November 27, 2006 144
Productivity Improvement Online Data Verification 35% 35% 0 2004 2005 2006 Wer liefert was? GmbH Capital Market Day, November 27, 2006 145
Usage User Service Wer liefert was? GmbH Capital Market Day, November 27, 2006 146
Usage Number of Listings 1.100.000 Sep. 06 700.000 520.000 2004 2005 2006 100% 212% Wer liefert was? GmbH Capital Market Day, November 27, 2006 147
Usage Unique Visitors per month DACH, January - September 1.113.000 698.000 492.000 2004 2005 2006 100% 226% Wer liefert was? GmbH Capital Market Day, November 27, 2006 148
Usage User Generated Content Self-Registered Companies per Month 1.520 280 Pre-Relaunch Relaunch March 2005 Post-Relaunch 100% 543% Wer liefert was? GmbH Capital Market Day, November 27, 2006 149
Multiple Sales Channels High Touch Lower Touch High Cost Lower Cost Premise Tele Sales Online 100% 80% 53% 40% 19% 7% 2004 2005 2006 Wer liefert was? GmbH Capital Market Day, November 27, 2006 150
Conversion Rates New Customers: New Target Group Premise Tele Sales 12,0% 7,1% 2,1% 0 0,7% 2004 2005 2006 Wer liefert was? GmbH Capital Market Day, November 27, 2006 151
Conversion Rates - Online E-Mail Renewal Existing Customers 10,5% 3,4% 0 2004 2005 2006 Wer liefert was? GmbH Capital Market Day, November 27, 2006 152
Customer Base New Customer Acquisition (#) 5.400 Sept. 06 3.400 3.400 2004 2005 2006 Wer liefert was? GmbH Capital Market Day, November 27, 2006 153
Customer Base Total Customers (#) 22.650 22.000 21.300 22.070 Sept. 06 19.550 2002 2003 2004 2005 2006 Wer liefert was? GmbH Capital Market Day, November 27, 2006 154
Financials Impact of deferral method Customer Acquisition Revenue Timeline Wer liefert was? GmbH Capital Market Day, November 27, 2006 155
Financials 3300 Revenue Development 3200 3100 k 3000 2900 Turning Point 2800 2700 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2005 2006 *Normalized Actual Trendline Wer liefert was? GmbH Capital Market Day, November 27, 2006 156
Financials Underlying EBITDA Margin in % of Revenue* 26% 10% 15% 18% 2003 2004 2005 Rolling 12 Months** *Excl. Discontinued Operations ** Period October 2005 to September 2006 Wer liefert was? GmbH Capital Market Day, November 27, 2006 157
is poised to create Significant Shareholder Value Wer liefert was? GmbH Capital Market Day, November 27, 2006 158
Thank You Wer liefert was? GmbH Capital Market Day, November 27, 2006 159
Wrap up Tomas Franzén
Concluding remarks Objectives Revenue growth of 3-5 percent Leverage on strong Nordic market position Stabilise print Accelerate online growth Sales force management Product innovation ROI selling Good, sustainable margins and cash flow Cost savings program Group synergies Healthy EBITDA in all markets Dividends to shareholders 75 percent of net income An efficient capital structure Deliver on dividend policy The Board will continuously evaluate the appropriate leverage 161
Författare: 162