VKW Business Lunch Presentation by Bruno Segers - RealDolmen: from idea to economic reality

APRIL 11, 2023 | SLIDE 1

www.realdolmen.com

Van idee tot economische realiteitVKW – juni 2009

Deze presentatie staat online op http://www.slideshare.net/realdolmen

http://www.slideshare.net/realdolmen


1999Listing on EuroNext Brussels

1997Listing on EuroNext Brussels

2007€75 mio convertible bond Acquisition Axias

1986Start of Real Software NV

Sep 2008Announcement Merger2007 - 2008

Growth and return to sound operations

2004Acquisition JCS

Dec 2007Announcement Project

2007Acquisition NEC Philips

1982Start of Dolmen NV out of Colruyt IT department

2004 – 2007RestructuringEstablishing solid platform for growth

2001 – 2004Distressed situationInvestment by Gores

HISTORY


From: Segers BrunoSent: woensdag 12 december 2007 22:52To: Abdo AshleySubject: Diesel Romeo honeymoon hotel

Ashley,

As discussed.

All details about Hotel De Schelde via this link http://www.hoteldeschelde.nl/nl/ As it’s only in Dutch a few additional comments

I know this hotel, small, modest and cheap (Jef will like this) It’s not in Belgium (they will not know us) It’s 1 hour drive from Brussels and 1 hour drive from Antwerp They have wireless They have a few meeting rooms We can eat, swim, drink, sauna and go for bowling If we don’t have a solution for big problems we can go for a beachwalk to catch fresh air They still have 10 rooms available this Friday and/or Saturday We can meet and work there We can work and meet full days while our partners (even children) could enjoy the environment (if we decide to do this) Jef and Francois could join us Saturday night for dinner Etc …

I took an option for at least 10 rooms this Saturday. Ideally we should bring the new mgt team and the merger taskforce together in this warroom concept. We will save a lot of money and time while we start building the Newco Mgt Team in one go.

Think about it.

Bruno

PS If needed some of us can go there as from Friday night to prepare while we start formally Saturday at 10 AM and end Sunday night at …

http://www.hoteldeschelde.nl/nl/


Timeline

Diesel Project 14-21 December 2007

December 14-19 Complete Business Plan & NewCo Presentation Complete Draft Prospectus Complete Antitrust Filing December 19 3pm Present to Board Diesel – Obtain Support Letter 8pm Present Board Romeo – Approve Prospectus December 20 AM Present Draft Prospectus and Industrial Project to CBFA December 21 AM Public Announcement of Deal by CBFA 9am Work’s Counsel Briefings 10am Press Conference 12pm Analysts 3pm Associates December 25 Enjoy Christmas with Families


KEY MILESTONES – FROM PROJECT TO NV

December 21, 2007

February 20, 2008

March 5, 2008

March 26, 2008

September 1, 2008

Announcement of the tender offer and subsequent merger

CBFA approval and publication of the prospectus

Closing of the tender acceptance period

Successfull closing of the tender offer with 82,45% Dolmen shares tendered

Extraordinary General Assembly of Shareholders to approve the merger


REALDOLMEN HAS A CLEAR VISION AND MISSION Vision: To be the reference in the local market for

integrated solutions supporting the complete ICT-lifecycle. Reference: be the preferred & trusted choice for customers,

partners and employees Local: proximity to our customers in the Benelux and France Integrated solutions: complete ICT offering covering the full

lifecycle, including infrastructure, applications and communications

Complete ICT-lifecycle: supporting all plan-build-operate activities

Mission: RealDolmen’s mission is to enable its clients to achieve their objectives by optimizing their business processes through innovative, effective and reliable ICT solutions.


3271

5033

BILLABLE YEARS OF SERVICEEMPLOYEES PER

AGE CATEGORY

81%

80%

19%

20%

EDUCATION

REALDOLMEN HAS MORE THAN 10000 MANYEARS OF EXPERIENCE


REALDOLMEN HAS EXTENDED GEOGRAPHICAL COVERAGE

France

Luxemburg

Belgium


REALDOLMEN HAS A SINGLE-SOURCE OFFERING

Infrastructure Products

Business Solutions

Professional Services

Service Oriented Architecture Unified Communications Supply Chain Mgmt CAD/GIS Mobility Enterprise Asset Mgmt Clinical Trial Mgmt Systems

Development Outsourcing Managed Services Project Management Training Services Business Process

Management

Data Center Front-end Networking

IP Communications Voice Over IP Security

Turnkey Solutions Enterprise Resource

Planning Customer Relationship

Management Business Intelligence ECM/WCM Web Solutions

Networking Testing Support & Helpdesk Security Enterprise Application Integration Service Oriented Architecture

Solutions built with own software or on top of 3rd party platforms. In this area we sell services and products (such as 3rd party software or own IP) under the form of licenses.

Encompasses services (both development and infrastructure competences) and products (own IP under the form of courseware, development methodologies, project management methodologies, building blocks, etc).

Hardware products and software licenses


A SOLID AND REFERENTIAL CUSTOMER BASE IN BOTH THE MID-MARKET AND LARGE ACCOUNTS

Logistics and Distribution Industry

Life Science

Government/Healthcare/Education

Services


REALDOLMEN IS A REFERENCE PARTNER

http://www.oracle.com/global/be/index.html

http://www.cognos.com/be/

http://www.progress.com/be/index.ssp

http://www.sap.com/index.epx


GOOD REVENUE SPREAD ACROSS SECTORS

Govern-ment / Health-care / Educa-

tion33%

Telecom3%

Industry29%

Distribu-tion /

Logistics / Energy

9%

Services (Financial)

7%

Services (Other)

19%


Fam. Colruyt

(3)16%

Free Float47%

The Gores Group (1)28%

Cegeka4%

Institutionals (2)5%

COMPLEMENTARY SHAREHOLDER OWNERSHIP

Notes:These figures (dating from 28/4/2009) represent the shareholdings on a non-diluted basis, i.e. without taking into account the possible conversion of warrants, convertible bonds or other financial instruments which may result in the creation of RealDolmen shares. They are based on the shareholder's declarations made in accordance with the applicable transparency legislation, which are also made available on thewebsite.

(1) Includes stock held by Gores (Real Holdings LLC) and KBC Financial Products. Further to the issuance of the 2007 Convertible Bond, Real Holdings LLC and KBC Financial Products have entered into a stock loan agreement according to which KBC FP has currently borrowed up to 40 million shares for up to 3 years. According to their most recent declarations, Gores and KBC Financial Products respectively hold 20,46% and 7,51% of the issued share capital. (2) “Institutionals” includes Fortis Investment Management NV, holding 3,00% of the issued share capital, Deutsche Bank AG, holding 2.64% of the issued share capital, and KBC (other than KBC Financial Products, which is already taken into account under (1)), holding 0,20% of the issued share capital.(3) “Colruyt” refers to a number of related parties that made a joint declaration, the details of which are available on the website.


www.realdolmen.com

Van idee tot economische realiteit


Verizon

Xerox

Avaya

Siemens Enterprise

Atos Origin

Accenture

Cronos

Econocom

Sun

Siemens IT Solutions

Mobistar

RealDolmen

Telenet

SAP

Oracle

Cisco

IBM

HP

Belgacom

Microsoft

3.00%

3.00%

3.00%

4.00%

4.00%

4.00%

4.00%

4.00%

4.00%

5.00%

6.00%

6.00%

7.00%

10.00%

10.00%

14.00%

19.00%

30.00%

31.00%

34.00%

ONE OF THE TOP INDEPENDENT ICT SUPPLIERS IN BELGIUM

Results are based on a Data News survey amongst 1.100 Belgian companies inquiring about their top 3 most important suppliers.© Data News, May 2009.


TURNOVER FY 2007/08 TO FY 2008/09

ProfessionalServices


Business Solutions

FY2007/08

FY2008/09

€142,0 mio€138,4

mio

FY2007/08

FY2008/09

€40,5 mio€34,8

mio

FY2007/08

FY2008/09

€83,1mio€78,3

mio

+16,4%

+2,6%

+6,1%

Total Group

FY2008/09

€265,6 mio

€251,5 mio

FY2007/08

+5,6%


MARGINS

FY2007/08

FY2008/09

-2,5%-1,6%

Corporate

FY2007/08

FY2008/09

10,5%

8,8%

Professional Services

FY2008/09

6,0%5,9%

FY2007/08

Total Group

FY2007/08

FY2008/09

10,1%

11,8%

Business Solutions

FY2007/08

FY2008/09

4,2%

3,4%



March ‘08

€36,6 mio

€73,7 mio

€16,7 mio

€57,0 mio

September ‘08

€34,6 mio

€74,6 mio

€14,8 mio

€59,9 mio

March ‘09

€33,1 mio

€54,9 mio

€18,4 mio

€36,5 mio

Net debtEbitda

CASH/DEBT POSITION

Cash (2)

Convertible debt (July 2012)

Other debt

(1) Shows impact of buy-back convertible in October and December on September close numbers(2) Cash = Cash + Assets held for trading

In Q3, the company has taken advantage of the depressed

environment in the convertible bond market to buy back

€31,5mio worth of its € 75mio senior unsecured convertible

bond note.

2,0 2,2 1,2


NET PROFIT BREAKDOWN

FY2007/08

FY2008/09

€-3,2mio

€-1,9 mio

Non recurring-€1,3 mio

FY2007/08

FY2008/09

€3,5 mio

€-5,0 mio

Financial Result+€8,5 mio

FY2007/08

FY2008/09

€15,9mio€14,9

mio

REBIT+€1,0 mio

FY2008/09

€23,6 mioDTA

Taxes-€17,1 mio

FY2007/08

FY2008/09

€17,9 mio

€26,8 mio

Net Profit-€8,9 mio

FY2007/08

€9,8 mioCB buy

back

€18,8 mio

€-4,8 mioTaxes

€-6,3 mioFin. result

€-5,0 mioFin. result

€2,7 mioDTA

€-1,0 mioTaxes

OUTLOOK:Will increase because of optimization program

OUTLOOK:Under pressure, further cost optimization planned

OUTLOOK:CB buy back will reduce cost by additional €2,2m

OUTLOOK:Further reduce based on planned merger of operational units in BE next year

€1,7 mio


SUCCESFULL MERGER

Divisions now organised & aligned

Cross-selling opportunities are being converted

Synergy benefits anticipated next FY, in-line with expectations

Number of employees reduced by 65 due to hiring freeze and optimizations

No increase in attrition due to merger. Attrition is declining due to economic downturn


GROWTH STRATEGY

Strategy remains unchanged – pursuit of organic growth with small acquisitions where appropriate

Operate a streamlined organization with optimal framework for growth following optimization & integration projects

Current economic environment presents opportunities to continue to build market share through carefully chosen bolt-on acquisitions


SUMMARY & OUTLOOK

Solid first RealDolmen year Turnover up 5,6% REBIT +7,0% , with margins up to 6,0% despite incurred integration

costs Strong cash position with €19,3mio operational cash flow Net debt position reduced by €15,3mio as a result of buy back of

convertible bond and strong operational cash flows Reverse stock split

Integration on track Integration almost completed and additional cost improvement plans

taking effect Well positioned for the future

Good spread of customers - healthy revenue mix with over 33% in public sector and limited presence in financial sector (<7%)

Strong balance sheet and sound cash position Market leadership and strong offering


HOME for our employeesSHOWCASE for partnersSIMPLE for our customersGREEN for the environmentCAMPUS for allROCK-SOLID PASSION for ICT

VKW Business Lunch Presentation by Bruno Segers - RealDolmen: from idea to economic reality

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Transcript of VKW Business Lunch Presentation by Bruno Segers - RealDolmen: from idea to economic reality