INVESTOR PRESENTATION - Mediagrif · 2018-03-09 · results to differ materially from those...
Transcript of INVESTOR PRESENTATION - Mediagrif · 2018-03-09 · results to differ materially from those...
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INVESTOR PRESENTATION Focus on Organic Growth
November 8, 2016
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DISCLAIMER
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Forward-looking statement This document contains certain forward-looking statements with respect to the Company. These forward-
looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual
results to differ materially from those contemplated by these forward-looking statements. We consider the
assumptions on which these forward-looking statements are based to be reasonable, but caution the
reader that these assumptions regarding future events, many of which are beyond our control, may
ultimately prove to be incorrect since they are subject to risks and uncertainties that affect us. We
disclaim any intention or obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by applicable securities
legislation. All amounts are in Canadian dollars.
These assumptions include, without limitation:
+ No significant change in the current value of CAD$ vs. US$
+ No significant increase or decrease in revenues and operating expenses
+ Stable market conditions
INVESTOR PRESENTATION
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COMPANY OVERVIEW
+ Founded in 1996, public since 2000, MDF.TO
+ Workforce of 445 employees
+ Connecting buyers & sellers through several platforms
+ FY2016 Revenue $73.0M, adj. EBITDA $28.6M, 39%
+ Market capitalization $278M*
+ Dividend $0.10 / quarter
INVESTOR PRESENTATION | FOCUS ON ORGANIC GROWTH
*as at November 7, 2016
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LONG TERM VALUE CREATION METRICS
15,1 17,4
25,2 24,3 27,5 28,6
FY11 FY12 FY13 FY14 FY15 FY16
Adjusted EBITDA
10,3 12,3 18,0
22,2 24,1 22,3
FY11 FY12 FY13 FY14 FY15 FY16
Cash flow from Operations
0,58 0,69
0,97 0,80
1,00 1,05
FY11 FY12 FY13 FY14 FY15 FY16
Earnings per share
47,1 53,8
60,7 65,4 70,2 73,0
FY11 FY12 FY13 FY14 FY15 FY16
Revenue
(in millions of CA$, except per share amounts | CAGR: compound annual growth rate)
INVESTOR PRESENTATION | FOCUS ON ORGANIC GROWTH
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OUR MISSION
Provide innovative and efficient E-commerce solutions
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OUR BUSINESSES
(JOB BOARD)
(CLASSIFIED ADS)
(ONLINE DATING) (CONTRACT MANAGEMENT)
(E-PURCHASING)
(E-PURCHASING)
(SUPPLY CHAIN) (AUTOMOTIVE AFTERMARKET)
(DIAMONDS & JEWELRY)
(WINE & SPIRITS)
(ELECTRONIC COMPONENTS)
STRONGEST GROWTH POTENTIAL
INVESTOR PRESENTATION | FOCUS ON ORGANIC GROWTH
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FY2017 FOCUS ON ORGANIC GROWTH
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FY2017 | FOCUS ON ORGANIC GROWTH
Invest in highest growth potential platforms
+ E-Purchasing and contract management
+ Supply Chain
+ Consumers
INVESTOR PRESENTATION | FOCUS ON ORGANIC GROWTH
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E-PURCHASING OFFERING
E-purchasing Market: Double digit growth market*
Merx (Canada): 2,000 buyers 70,000 suppliers
BidNet (USA): 1,100 agencies 57,000 suppliers
Recurring revenues: ~55%
INVESTOR PRESENTATION | FOCUS ON ORGANIC GROWTH
*(Forrester Research, see appendix)
Organic growth:
FY16 vs. FY15 – 12 months 11% FY17 vs. FY16 – 6 months 6%
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E-PURCHASING GROWTH STRATEGY
Focus on on-boarding buying organization & suppliers
A
+ Grow existing customers potential + Increase sales & marketing activities
Access to new productivity tools
B + Vendor qualification + Bid evaluation + Contract management + Business intelligence tools
INVESTOR PRESENTATION | FOCUS ON ORGANIC GROWTH
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CONTRACT LIFECYCLE MANAGEMENT
RFP BIDS AWARD CONTRACT
MANAGEMENT PERFORMANCE MANAGEMENT
VENDOR QUALIFICATION
DOCUMENT DEVELOPMENT
EVALUATION
Essential piece for MERX & BidNet for product evolution
INVESTOR PRESENTATION | FOCUS ON ORGANIC GROWTH
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ASC ACQUISITION
+ In line with our growth strategy
+ Operate in fast growing market*
+ Generate ~70% of recurring revenues (50% in USD)
+ Provide cross selling, integration opportunities
+ Asset purchase – May 31, 2016, $17.1M
*(CAGR 2010-2015 of 15% according to Forrester Research)
INVESTOR PRESENTATION | FOCUS ON ORGANIC GROWTH
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SUPPLY CHAIN OFFERING
Unique Combined Offering Private Catalogue EDI Network Tier-1 VAN
Automotive
Healthcare
Apparel & General Merchandise
INVESTOR PRESENTATION | FOCUS ON ORGANIC GROWTH
90%+ Recurring revenues (75% US$)
3,000+ Retailers & suppliers
Organic growth: FY16 vs. FY15 – 12 months 11% FY17 vs. FY16 – 6 months 13%
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SUPPLY CHAIN GROWTH STRATEGY
Increase focus on product data synchronization
1 + More accurate, more secure real time data to buyers + More automation between retailers/suppliers
Cross sell between our EDI Network & Catalogue
2
+ Upsell new services
Promote our offering to SMBs 3 + Increased demand for supply chain solutions
INVESTOR PRESENTATION | FOCUS ON ORGANIC GROWTH
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CONSUMER GROUP OFFERING
PRESENT IN KEY LIFE EVENTS & MOMENTS
+ LesPAC: Buy & sell
+ Jobboom: Find a job & manage your career
+ Réseau Contact: Find love & build relationships
INVESTOR PRESENTATION | FOCUS ON ORGANIC GROWTH
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CONSUMER GROUP GROWTH STRATEGY
Revenue diversification
2
Increase marketing & promotion 3
Broaden our service offerings as it relates to audiences’ needs:
1
+ LesPAC: Provide best in class shopping experience
+ Jobboom: Broaden footprint within the talent acquisition process
+ Réseau Contact: Introducing matching features to online personals
INVESTOR PRESENTATION | FOCUS ON ORGANIC GROWTH
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PROCÈS-VERBAL DE LA RÉUNION DU 2 JUIN 2016 FINANCIAL HIGHLIGHTS Second quarter ended September 30, 2016
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Q2 FY2017 HIGHLIGHTS
+ Revenues of $19.5M | +9%
− ASC revenues $1.4M*
+ Adjusted EBITDA of $8.1M | 42% margin
+ Profit of $4.5M | $0.30 per share
+ Cash flow from operations of $5.9M
INVESTOR PRESENTATION | SECOND QUARTER ENDED SEPTEMBER 30, 2016
* Acquired deferred revenue adjustment to their fair value at the acquisition date: • FY2017 | Q2: ($0.3M), FY2017 | Q3: ($0.2M), FY2017 | Q4: nil
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QUARTERLY RESULTS
(in millions of CA$)
INVESTOR PRESENTATION | SECOND QUARTER ENDED SEPTEMBER 30, 2016
18,0 18,5 18,8 19,0 19,5
7,5 8,0 6,6 7,0
8,1
5,1 4,9
2,5 3,7 4,5
42% 43%
35% 37% 42%
Q2-FY16 Q3-FY16 Q4-FY16 Q1-FY17 Q2-FY17
Revenues Adjusted EBITDA Profit Adjusted EBITDA margin
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FINANCIAL POSITION
+ Healthy balance sheet
+ Strong adjusted EBITDA margin
+ High cash flow from operations
+ Net debt / adjusted EBITDA @ 0.9X*
+ Liquidity of $53M + accordion feature of $40M*
*Adjusted EBITDA of last 12 months, net debt as at September 30, 2016 *Accordion feature subject to lenders approval
INVESTOR PRESENTATION | SECOND QUARTER ENDED SEPTEMBER 30, 2016
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M&A GUIDELINES
+ North American location
+ Ethical and diversified business sectors
+ Strong business models – High profitability – Recurring | Transactional revenues – Sustainable competitive advantage
+ Web technology
+ Acquisition target – Companies between $5M - $25M in annual revenues – Aligned to take advantage of our resources
(Technical, Financial, HR)
INVESTOR PRESENTATION | SECOND QUARTER ENDED SEPTEMBER 30, 2016
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OWNERSHIP
+ 15 million shares outstanding* − NCIB in place for an additional 250,000 shares
+ Alignment of interests − Directors & Officers owns 27.4% of all shares
• Claude Roy, president & CEO, currently holding 23.3%
+ Team focused on creating value
+ Disciplined & prudent approach
*October 2016
INVESTOR PRESENTATION | SECOND QUARTER ENDED SEPTEMBER 30, 2016
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BOARD OF DIRECTORS AND EXECUTIVE OFFICERS
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25 INVESTOR PRESENTATION
BOARD OF DIRECTORS Claude Roy Chairman and CEO
Gilles Laurin Chartered Accountant and Director of Corporations
Michel Dubé Consultant
Catherine Roy Executive Search, senior consultant Décarie Recherche
André Gauthier President André Gauthier Holding Inc.
Jean-François Sabourin President and CEO FinlogiK Inc. & JitneyTrade Inc.
Gilles Laporte Director of Corporations
MANAGEMENT TEAM Claude Roy President and Chief Executive Officer
Suzanne Moquin Vice President, Consumers Solutions
Richard Lampron Chief Operating Officer
Jean-Michel Stam Vice President, e-Business networks
Paul Bourque Chief Financial Officer
Stéphane Anglaret Vice President, Technology
Hélène Hallak Vice President and General Counsel
Camil Rousseau Vice President, Research & Development
Mark Eigenbauer Vice President, US Operations
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APPENDIX
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FORRESTER RESEARCH
*
INVESTOR PRESENTATION
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MEDIAGRIF INTERACTIVE TECHNOLOGIES INC. 1111 St-Charles Street West, Suite 255 Longueuil, Québec Canada J4K 5G4 www.mediagrif.com
Toll Free: 877 677-9088 Phone: 450 449-0102
Fax: 450 449-8725
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MARKET OPPORTUNITY (e-Purchasing)
$1 051 $1 136 $1 232 $1 333 $1 390 $1 381 $1 522
$742 $827 $916
$998 $1 039 $1 114 $1 182
$213 $250
$296 $336 $379 $432
$491
$141 $172
$231 $291
$311 $362
$409
$433 $488
$547 $598
$632 $690
$755
$190
$260
$294
$347 $401
$479
$557
$483
$547
$669
$769 $848
$1 073
$1 259
$174
$214
$269
$321
$362
$397
$446
$0
$1 000
$2 000
$3 000
$4 000
$5 000
$6 000
$7 000
2009 2010 2011 2012 2013 2014 2015
Supplier Risk andPerformanceManagement
Supplier Network
ServicesProcurement
EIPP
Spend Analysis
Contract LifecycleManagement (BuySide)
E-Sourcing
E-Procurement
14% 14%
12%
7%
11%
12%
$US
Milli
ons
INVESTOR PRESENTATION
*(Forrester Research)
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NOTE
INVESTOR PRESENTATION
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NOTE
INVESTOR PRESENTATION
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NOTE
INVESTOR PRESENTATION
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OWNERSHIP STRUCTURE
INVESTOR PRESENTATION | AUGUST 2016
Shares % of Total Claude Roy 3,462,090 23.1% Directors and officers 766,213 5.1% Employees 193,390 1.3%
SUBTOTAL 4,416,874 29.5%
Institutional investors/Public 10,577,286 70.5% TOTAL OUTSTANDING AS AT JULY 1ST 2016 14,998,979 100.0% Repurchased 818,000 shares in last two years (5.2% of share capital).
Directors and officers own 28.2%. No stock option plan in place.
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March 2013
Dec 2008
$306 M
$28 M
Market Cap. Stock Price
$19.40
$2.00
‒ Acumen Capital Finance Partners
‒ Valeurs mobilières Banque Laurentienne
‒ Echelon Partners
‒ Desjardins
‒ National Bank
‒ GMP Securities L.P.
‒ Cormark Securities
Analyst Coverage
Market Cap. and share price up more than 10X
Why invest?
Quarterly dividend of $0.10
34
Focus on Value Creation
Stock Performance
2009 2011 2013
$2
$5
$10
$20
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WHY INVEST? l 35
Profitable business/Strong balance sheet 6X% Recurring revenue Generating good cash flows Growth potential Paying a dividend
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ANALYST COVERAGE l 36
– A COMPLETER Analyst Target Price 1 year
• Echelon • Laurentian LBS • Acumen • National bank financial • Cormark