Presentation in English

Tamedia acquires Ricardo Group
Christoph Tonini, CEO
Zug and Zurich, 10 February 2015
Tamedia Ricardo, February 10, 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
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Tamedia Ricardo, February 10, 2015
Ricardo Group: ricardo.ch as core business, three newer units
Ricardo.ch
Autoricardo.ch
Olx.ch
Ricardoshops.ch
• Founded in 1999
• Online Marketplace
• >1 mn monthly
C2C listings
• 2.3 mn registered
users
• Founded in 2009
• Car platform
• Unique features in
the car market such
as auctions and
spare parts market
• Founded in 2012
• General classifieds
platform
• Founded in 2014
• Online Shopping
Center
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Tamedia Ricardo, February 10, 2015
Ricardo is by far the leading Swiss eCommerce platform
Traffic of leading eCommerce platforms in Switzerland in
1’000 Visits*
7,200
Amazon
4,500
Digitec
4,400
Zalando.ch
1,950
microspot
1,400
DeinDeal
990
Brack.ch
880
Galaxus
740
Nespresso
720
LeShop
340
330
coop@home
320
nettoshop.ch
230
*Source: Similar web
4
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
Tamedia Ricardo, February 10, 2015
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
5
C2C
market
Tamedia Ricardo, February 10, 2015
Digital: news, market places, services and eCommerce
Horizontal and vertical platforms in the digital portfolio
*
Horizontal
General classifieds
*
Real
estate
*
Jobs
Cars
Online classifieds
*
*
*
Vertical
Services
*
Fashion Vintage
eCom- Fashion
merce
*
Tickets
Building
&
renovation
Video
*
Digital advertising & services
*
News
6
* Participations
Tamedia Ricardo, February 10, 2015
Digital: news, market places, services and eCommerce
Horizontal and vertical platforms in the digital portfolio
*
Horizontal
General classifieds
*
Jobs
Cars
Online
market
-place
*
*
*
Vertical
Services
eCommerce
Online classifieds
Real
estate
*
*
Fashion Vintage
eCom- Fashion
merce
*
Tickets
Building
&
renovation
Video
*
Digital advertising & services
*
News
7
* Participations
Tamedia Ricardo, February 10, 2015
Tamedia: the clear leader in the Swiss Classified market
Online
Marketplace
General
Classifieds
Car Market
Real Estate
Job Market
*
*
*
*
1st
1nd
2nd
1st
1st
* participation
8
Tamedia Ricardo, February 10, 2015
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)
23%
Tamedia Digital: Number of Employees
23%
25%
75%
77%
28%
67%
77%
290
250
40
Tamedia
Ricardo
1,010
Total
810
~ 200
Tamedia*
Ricardo
Total
Tamedia Digital
*Number of employees as of end of 2014
9
Tamedia Ricardo, February 10, 2015
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
Tamedia Ricardo, February 10, 2015
Thank you for your attention!
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Tamedia Ricardo, February 10, 2015