Interim Results
Transcription
Interim Results
Interim Results August 2015 © 2015 Datalex Contents Interim Results 3 Investment Highlights 8 Growth Strategy 18 Summary & Outlook 23 Appendices 25 FORWARD LOOKING STATEMENTS Some statements in this presentation are forward looking. They represent expectations for Datalex’s business and involve risks and uncertainties. Datalex has based these forward-looking statements on current expectations and projections about future events. Datalex believes that expectations and assumptions with respect to these forward-looking statements are reasonable. However, because they involve known and unknown risks, uncertainties and other factors, which are in some cases beyond Datalex’s control, actual results or performance may differ materially from those expressed or implied by such forward-looking statements. © 2015 Datalex 2 2015 Interim Results Continued Growth & Performance © 2015 Datalex 3 H1 2015 Continued Growth & Performance Growth 11% Platform Revenue Growth New Customer Go-Lives Visibility Powerful Commercial Model Multiple Horizons for Growth Investing for Scale Innovation in Digital Commerce for Travel Expert Resources Organic Customer Growth 13% Increase in Cash Scale Global Brand Customers/Partners Partner Ecosystem Operating Leverage FY2015 Guidance reiterated - 20-25% growth in Adj. EBITDA © 2015 Datalex 4 H1 2015 Business Highlights Revenue Growth Investing for Growth New Customers Live and driving revenue Digital Commerce New call centre application; payments and CRM features to further drive revenue Organic Growth As customers take full advantage of platform Resources Expert Resources to serve new markets and structure business for growth Growing Ecosystem Global brand customers and partners Strong pipeline Partners Localization partner to scale operations in China – our highest growth market © 2015 Datalex 5 H1 2015 Income Statement US$M HY’15 HY ’14 HY ’13 Total Revenue 20.8 20.2 17.7 Platform Revenue 10.6 9.6 8.0 Total Costs 20.6 19.7 17.5 Net Amortised Dev. 0.3 0.9 0.3 Adjusted EBITDA 3.8 3.8 3.1 Profit after tax 0.3 0.6 0.2 Basic EPS - cents 0.37 0.77 0.23 Platform Revenue growth of 11% new customers live and organic growth Investment in scaling the business On track to meet FY15 guidance; 20% - 25% growth in Adj EBITDA Continued growth in Platform Revenue and New Customers © 2015 Datalex 6 H1 2015 Balance Sheet US$M HY’15 HY’14 HY’13 Total Assets 45.0 42.0 38.6 13% Increase in net cash Receivables 12.0 12.2 11.0 50% increase in dividend paid Total Equity 34.0 33.5 31.9 Total Liabilities 10.9 8.5 6.7 174% Increase in net cash generated from operations. Net Working Capital 17.3 18.9 16.4 Cash 16.2 14.3 11.5 Net Cash Generated from Operations 3.4 1.3 (1.0) Intangible Assets 14.0 12.4 13.6 Continued focus on working capital management Strong Balance Sheet offers flexibility © 2015 Datalex 7 Investment Highlights Digital Commerce for Travel Retail © 2015 Datalex 8 Key Investment Highlights Large Addressable Market Market Leading Digital Commerce – Differentiated Solution Powerful Commercial Model Proven Track Record of EBITDA Growth & Cash Generation Multiple Horizons for Future Growth © 2015 Datalex 9 Large Addressable Market Global Digital Commerce ~$1.6 Trillion Digital Travel Commerce ~$500 Billion Sources: Worldwide Digital Travel Sales: The eMarketer Forecast for 2015 © 2015 Datalex 10 A Unique Strategic Asset for Airline Retailers NO.1 WORLD’S TRAVEL MERCHANDISING PLATFORM >60 GLOBAL BRAND CUSTOMERS AND PARTNERS >1 BILLION STRONG PRESENCE IN HIGHEST GROWTH MARKETS GLOBAL SHOPPERS © 2015 Datalex 11 Market Leader - Scale and Performance $20 Billion >1 Billion >60 Revenue transacted by global retailers through the Datalex Commerce Platform People use the Datalex Commerce Platform annually to shop for their travel needs Global brand customers and partner providers leverage the Datalex Commerce Platform $60 Million $200 Million 150 Years Invested to date in product innovation Incremental annual operating income forecast by JetBlue Airways from using Datalex software Software and travel technology expertise in the Datalex leadership team 24.6% $10M 90% Adj. EBITDA CAGR (2012 – 2014) Net cash generated from operations in 2014 Contract renewal rates © 2015 Datalex 12 Market Leader – Digital Commerce for Travel Retail Digital Commerce driving Revenue and Loyalty for Global Travel Retailers Future Proof Commerce Shopping and Customer Insights An Ecosystem of Global Brand Customers and Partners A Marketplace for travel retail across all Sales Channels © 2015 Datalex 13 Powerful Commercial Model Strong Visibility of Customer Growth Transaction-based revenue model linked to passenger volumes, product offerings and sales channels. Revenue growth as airline passengers increase and as airlines incorporate new components of the platform to drive new product offerings across new sales channels. Critical Strategic Asset as Digital Commerce becomes primary enterprise system for revenue and customer engagement – 90% Retention Rates – Powerful Customer ROI © 2015 Datalex 14 “We look at the investment which we have made in our partnership with Datalex to be significant… to create a retail merchandising capability which is greatly superior to what we have today” “As a key component in our digital and retailing strategy, Brussels Airlines has selected the Datalex Platform to power our future Internet retail website” Robin Hayes Xavier Lagardère President JetBlue VP - Online Retail & Distribution Brussels Airlines © 2015 Datalex 15 “We look at the investment which we have made in our partnership with Annual Datalex toIncremental be significant… to create retail merchandising Operating Income capability which is greatly superior to what we have today” >$200M “As a key component in our digital 42% and retailing strategy, Brussels Airlines has Conversion selected the Datalex Increased Rates Platform to forpower B2C*our future Internet retail website” *JetBlue Investor Day, 14/11/14 Robin Hayes Xavier Lagardère President JetBlue VP - Online Retail & Distribution Brussels Airlines © 2015 Datalex 16 Proven Track Record* Revenue (US$m) Total Revenue Adj. EBITDA (US$m) / Margin % Platform Revenue 19.7% 41.4 38.1 7.5 6 15.7% 28.0 11.5% 13.0 2010 13.2 2011 14.7 2012 17.5 2013 19.5 2014 4.4 3.1 2010 2011 2012 2013 2014 Cash (US$m) Cost / Revenue % 110.0% 8.5 18.5% 32.4 26.8 20.5% 108.0% 16.9 18.3 14.6 104.9% 11.1 12.5 98.8% 100.0% 96.1% 94.4% 90.0% 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 *All figures related to full year. Continued Growth in Revenue and Adj. EBITDA © 2015 Datalex 17 Growth Strategy Extend Product and Market Reach © 2015 Datalex 18 Growth Drivers 1 2 Digital Commerce Product Innovation and Excellence extends product and market reach. New Customer Acquisition and Customer Development 3 An Ecosystem of global brand customers and partner providers extends product and market reach © 2015 Datalex 19 Customer Growth and Acquisition CUSTOMER DEVELOPMENT Digital consumer growth delivers a strong tailwind of growth Airline extends our Commerce Platform to support new products and new sales channels Customers leverage platform to optimize offers and digital engagement Customer success expert resources assigned to help customers grow revenues by taking full advantage of platform NEW CUSTOMER ACQUISITON Leading airline brands increasingly seek to re-platform and future proof their digital commerce suites Datalex sales are buoyed by compelling customer testimonies Investing in direct sales & brand Growing our Asia Pacific operations Leveraging ecosystem of global partner providers © 2015 Datalex 20 Digital Commerce Excellence & Innovation ONE SINGLE VIEW OF CUSTOMER CONTROL THE OFFER PRICING DATA Commerce Platform SHOPPING UNLOCK REVENUE AND LOYALTY PAYMENTS COMPLETE THE TRANSACTION Agility and Travel Commerce Expertise © 2015 Datalex 21 Digital EcoSystem 3RD PARTY CONTENT APPS LOYALTY SOLOMO PRICING B2B Agencies PSS Digital Design UX CONTENT SERVICES PAYMENTS DATA WAREHOUSE CLOUD DIGITAL WALLET PSP’S CREDIT MGT INTEGRATORS ALTERNATE CRM Enabling a Digital Marketplace © 2015 Datalex 22 Summary & Outlook © 2015 Datalex 23 Summary and Outlook Large Addressable Market Market Leading Digital Commerce – Differentiated Solution Powerful Commercial Model Proven Track Record of EBITDA Growth and Cash Generation Multiple Horizons for Future Growth Full Year Guidance Reiterated - 20-25% growth in Adj. EBITDA © 2015 Datalex 24 Appendices © 2015 Datalex 25 Contacts Datalex plc Global HQ Block U East Point Business Park Dublin 3 Ireland Aidan Brogan CEO Executive Director [email protected] EVENT David Kennedy CFO Executive Director [email protected] + 353 1 806 3500 US Toll Free: 1 888 234 1890 DATE datalex.com Interim Results August 26th 2015 Q3 IMS November 2015 [email protected] @datalex © 2015 Datalex 26 Management Team Team with over 150 years executive experience in travel ecommerce, technology, infrastructure and retail markets. © 2015 Datalex 27 Corporate Information ANALYST COVERAGE LISTING PARTICULARS Exchange Irish Stock Exchange Ticker ISE:DLE Goodbody Panmure Gordon Issued Share Capital Jack Diskin [email protected] Peter Smedley [email protected] 75.0m Davy LARGEST SHAREHOLDERS IIU Nominees Limited 27.53% Pageant Holdings Limited 10.69% Kabouter Management LLC. 5.23% Farringdon Capital Management SA 3.60% Paschal Taggart (Chairman) 3.58% Ross Harvey [email protected] Investec Conor MacCarrick [email protected] Cantor Fitzgerald Shane Kelly [email protected] © 2015 Datalex 28