2014 final results 30april2015# · 2017. 6. 27. · 2 disclaimer...
TRANSCRIPT
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2014 FINAL RESULTS 30 April 2015
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Disclaimer The informa4on contained in this confiden4al document and any accompanying verbal presenta4on (“Presenta4on”) has been prepared by Globo PLC (the “Company”). It has not been fully verified and is subject to material upda4ng, revision and further amendment. This Presenta4on has not been approved by an authorised person in accordance with Sec4on 21 of the Financial Services and Markets Act 2000 (“FSMA”) and therefore it is being delivered for informa4on purposes only to a very limited number of persons and companies who are persons who have professional experience in maQers rela4ng to investments and who fall within the category of person set out in Ar4cle 19(5) of the Financial Services and Markets Act 2000 (Financial Promo4on) Order 2005 (the “Order”) or are high net worth companies and unincorporated associa4ons within the meaning set out in Ar4cle 49(2) of the Order or are otherwise permiQed to receive it. 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Agenda
• 2014 Highlights Cos4s Papadimitrakopoulos,CEO
• 2014 Financial Review Dimitris Gryparis, FD
• Our Market Cos4s Papadimitrakopoulos
• Outlook Cos4s Papadimitrakopoulos
• Q&A
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GLOBO : EMPOWERING THE MOBILE ENTERPRISE
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GLOBO Today
EMPOWERING THE MOBILE ENTERPRISE Deployments in 50+ countries
TOTAL HEADCOUNT USA (123) | UK (21) | Greece (198) | India (117) | ROW (10)
Founded 1997
Listed on AIM since 2007 LSE:GBO Market Cap: £180 million
REVENUE 2014: €106.4m 2013: €71.5m
3.5m ac4ve users of consumer services 834k enterprise users 31.8m device licenses for consumer apps
REVENUE METRICS • Revenue per employee: €210K • GO!Enterprise License Renewal Rate: 95% • CitronGO! Renewal Rate: 65% • Repeat Project Rate: 60%
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2014 Results Summary
• Revenue up 49% -‐ driven by organic license growth • 85% organic revenue growth • 15% acquired revenue
• Third consecu4ve year of increased posi4ve free cash flow • Interna4onal growth with US focus
• North America Revenue at €15.5 million (2013: €3.6 million), increased by 334%
• Unique offer of combined Device Management and App Development Plavorms
• Momentum expected to con4nue through 2015
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Licenses and End User Growth • GO!Enteprise EMM licences up 145% to 834,000 • GO!Enterprise MADP licences up 143% to 31.8 million • CitronGO!/GO!Social monthly ac4ve users up 17% to 3.5 million
2014 Operating Highlights
AcquisiSon of Sourcebits Inc. • Acquisi4on of Sourcebits Inc., services division for US$12.2m in cash • Adds User Interface / User Experience know how, mobile strategy and analy4cs exper4se,
scale (San Francisco, Bangalore) and clients
Enterprise Client wins and Integrated contracts • New clients: Siemens, TUI, TNT, PeopleCert, Intracom Telecom • Australia: New South Wales Health Administra4on • UK: Milton Keynes LA
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US Expansion • Sourcebits Inc. now fully-‐integrated within the Group’s US opera4ons • 25% of Group employees based in the US • Founder and CEO, Cos4s Papadimitrakopoulos, relocated to Palo Alto, California, where
the US opera4ons are headquartered
Industry recogniSon • Gartner’s Magic Quadrant for EMM Report (June 2014) • Ovum’s 2014-‐15 Decision Matrix for EMM Solu4ons (September 2014) • IDC’s report on MADP (December 2014)
Product Suite Expansion • Launch GO!AppZoneStudio, a comprehensive mobile applica4on development plavorm
(MADP) and GO!Enterprise WorkSpace, offering an improved user experience • Significant new features added to exis4ng product line
2014 Operating Highlights
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2014 Financial Review
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Revenue increased 49% to €106.4m • Primarily due to organic license growth • GO!Enterprise revenue up 94% to €57.9m • CitronGO! / GO!Social revenue up 11% to €38.5m
EBITDA increased 41% to €50.9m
Profit before Tax increased 30% to €35.7m Increased free cash flow of €7.3m
• Reflec4ng shorter collec4on terms from enterprise mobility products and Services
EPS increased by 27% to €0.094 (2013: 0.074)
2014 Financial Highlights
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Gross profit margin 59.0% (2013: 56.2%)
Opera4ng profit margin 35.1% (2013: 38.2%)
Investment in R&D €23.5m (2013: €14.6m)
EBITDA Cash Conversion Ra4o
72% (2013: 63%)
Free Cashflow €7.3m (2013: €5.2m)
Net Cash Posi4on (at 30 December 2014) €40.4m (2013: €42.8m)
2014 DSOs
169 days (2013: 143 days)
2014 Results Metrics
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2014 Revenue: Segment Analysis
€57.9m
€38.5m
€6.6m €3.4m
GO!Enterprise CitronGO! Telecom SaaS 3rd Party Goods
GO!Enterprise
CitronGO!
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-‐
10,0
20,0
30,0
40,0
50,0
60,0
FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 H1 2011
H2 2011
H1 2012
H2 2012
H1 2013
H2 2013
H1 2014
H2 2014
CitronGO! /GO!Social Revenue GO!Enterprise Revenue
2014 Revenue: GO!Enterprise vs CitronGO!
GO!Enterprise becoming the dominant revenue stream.
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• Enterprise Mobility Management (EMM) licenses
• Revenue up 117% to €12.6 m (2013: €5.8 m)
• Mobile ApplicaSon Development (MADP) licenses
• Revenue up 120% to €20.0 m (2013: €9.1 m)
• Mobility Business SoluSons
• Revenue up 69% to €25.3 m (2013: €15.0 m)
GO!Enterprise Operations
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• CitronGO! / GO!Social services
• Revenue up 11% to €38.5 m (2013: €34.8 m)
• Telecom Services – S.a.a.S
• Revenue up 35% to €6.6 m (2013: €4.9 m)
CitronGO! – GO!Social & other operations
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Cashflow: Free Cashflow Generation 2014
• Cashflow from opera4ons:
€36.4million (+ 60%)
• EBITDA Cash Conversion Ra4o: 72% (2013: 63%)
• 2014 FCF: €7.3m
• Improved working capital
requirements rela4ve to 2013
Free Cashflow Bridge
37,3
13.5 13.6
5.5
24.4
7,3 0,0
10,0
20,0
30,0
40,0
50,0
60,0
Op D&A Working Capital
Int/Tax FreeCF
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Cashflow: Working capital improvement
Free Cashflow Bridge 2014 Free Cashflow Bridge 2013
2013 revenue growth : 25.5 million | Working Capital : 13.3 million (52%)
2014 revenue growth : 34.9 million| Working Capital : 13.6 million (39%)
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FY2014 Highlights
• Excellent financial performance – posi4ve free cash flow and robust balance sheet
• US Expansion in focus and on track • Important acquisiSons completed, boos4ng our
capabili4es • InternaSonal growth strategy underway • Launch of new innovaSve products • Well posiSoned in a dynamic marketplace
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Outlook
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2015 Performance and Outlook Post period-end highlights • GO!Enterprise EMM: 50,000 licence renewal and incremental purchase order from a US Fortune 100 company • Globo included in March 2015 Ovum’s Decision Matrix report 2015-‐16 • FIPS 140-‐2 Trading outlook • Strong momentum expected to con4nue as a result of tradi4onally stronger second half and con4nued US expansion • The principal focus in 2015 remains expansion of the Group’s US revenues and market presence, through organic growth, the addi4on of key personnel and, where appropriate, selec4ve earnings-‐accre4ve acquisi4ons.
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Appendix
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We Empower the MOBILE ENTERPRISE
Securing Devices, Data & Apps
Helping Enterprises develop a -‐ Mobile Strategy, to engage with its audience
Provide project end to end consul4ng and services
Our Mission
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By 2017: a combined BYOD-‐market worth $7.0bn*
Driven by a rise in smart devices from 55% to 88% of all mobiles in US / W. Europe
And an overall increase in mobile devices from 7bn to 10bn
By 2017 esSmated market worth $7bn: EMM $2.2bn and MADP $4.8bn
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
2014 2015 2016 2017
MADP $bn EMM $bn
Our Market: The Enterprise Mobility Opportunity
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Enterprise Mobility: The Future
3rd Plavorm compute and service distribu4on paradigm is permanent
BYODàBYOAppàMYOC (manage your own content), and beyond
Highly heterogeneous “customers”, modali4es, and client side environments
Iden4ty is the new endpoint, not devices
Vendor selec4on is a “future proofing” challenge
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Full product offering
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Understanding MBS
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GLOBO a partner of choice
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Better view under a magnifying glass
EMM MADP Globo GO!Enterprise Globo GO!AppZone SAP Mobile Secure
SAP Mobile Plavorm
IBM MaaS360 IBM Worklight
Kony Management Cloud Kony Development Cloud
Airwatch by VMware Salesforce.com
Good Technology Oracle
MobileIron Adobe
Symantec Verivo
Trend Micro Appcelerator
Apperian FeedHenry
SOTI Sencha
Offer capabili4es across both markets
Extensible container integra4ng EMM & MADP
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One of the few vendors..
VendorsCustomer Needs
Mobile Enterprise
Device, Produc4vity
Devices
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FEWER
MANY
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License Customers
Customers! Partners!
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Mobility Business Solutions Customers Customer Showcase
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Appendix
Reports -
Products
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JUNE 2014: Globo recognised by Gartner
Globo included in Gartner’s Enterprise Mobility Management Magic Quadrant (MQ) Ahead of well-‐known players for “Product Completeness and Vision”
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SEPT 2014: Globo in OVUM Decision Matrix
Globo included in Ovum’s Enterprise Mobility Management SoluSons Decision Matrix • Posi4oned as Challenger • One of the few offering 5 out of 6 EMM func4onali4es
Publication Date: 17 Sep 2014 | Product code: IT0021-000023
Richard Absalom
Ovum Decision Matrix: Selecting an Enterprise Mobility Management Solution, 2014–15
Ovum Decision Matrix: Selecting an Enterprise Mobility Management Solution, 2014–15
© 2014 Ovum. All rights reserved. Unauthorized reproduction prohibited. Page 7
Figure 1: Ovum Decision Matrix: Enterprise Mobility Management, 2014–15
Source: Ovum
Figure 2: Expanded view of Ovum Decision Matrix: Enterprise Mobility Management, 2014–15
Source: Ovum
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SEPT 2014: Globo in OVUM Decision Matrix Globo among the leaders in: • Mobile Applica4on
Development Plavorm • Iden4ty Access
Management
Ovum Decision Matrix: Selecting an Enterprise Mobility Management Solution, 2014–15
© 2014 Ovum. All rights reserved. Unauthorized reproduction prohibited. Page 10
Oracle Another mega-vendor slightly too late to market to feature in this Ovum Decision Matrix, Oracle is bringing its enterprise application development and management experience to the EMM space. The acquisition of MAM vendor Bitzer Mobile in November 2013 kick-started Oracle's strategy around mobile. This mobile strategy is based on providing out-of-the-box mobile enterprise apps, developing custom apps or extending out-of-the-box apps, and securing all of these different types of apps across multiple platforms. As might be expected, Oracle offers strong MADP features, and also MDM, MAM, and IAM across iOS and Android.
Market leaders Market leaders: Technology Figure 3: Ovum Decision Matrix: Enterprise Mobility Management, 2014–15 – Market leaders – technology
Source: Ovum
Publication Date: 17 Sep 2014 | Product code: IT0021-000023
Richard Absalom
Ovum Decision Matrix: Selecting an Enterprise Mobility Management Solution, 2014–15
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Ovum Decision Matrix: Selecting an Enterprise Mobility Management Solution, 2014–15
© 2014 Ovum. All rights reserved. Unauthorized reproduction prohibited. Page 12
Market leaders: Execution Figure 4: Ovum Decision Matrix: Enterprise Mobility Management, 2014-15 – Market leaders – execution
Source: Ovum
The overall leaders score highly across the execution rankings, which is largely what differentiates them from the challengers. Three vendors in particular – AirWatch, Citrix, and MobileIron – recorded 12 top three scores between them, and at least one of them appears in the top three vendors across each execution ranking.
The leaders in the maturity category – AirWatch, Citrix, Good Technology, and SAP – have not only been around on the market for a significant amount of time, but they also have strongly defined feature roadmaps and well-developed sales functions.
A number of vendors scored very highly on interoperability, demonstrating an ease of integration into customers' operations, and also with various other solutions and services. AirWatch, MobileIron, and Good Technology in particular have extensive API sets and large ecosystems of productivity application partners.
MobileIron, Citrix, and AirWatch scored the highest in terms of innovation, not just around feature sets but also in terms of business alignment, architecture, and commercial models. MobileIron in particular has largely built its business from day one around the components Ovum now identifies as core to an EMM solution.
SEPT 2014: Globo in OVUM Decision Matrix Globo among the leaders in: • Enterprise Fit • Scalability
Publication Date: 17 Sep 2014 | Product code: IT0021-000023
Richard Absalom
Ovum Decision Matrix: Selecting an Enterprise Mobility Management Solution, 2014–15
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Jan 2015: Globo in IDC MADP Marketscope
Globo's GO!AppZone MADP offering is ranked: • first in terms of revenue growth (307% for the period 2012-2013)
• second among seven “pure play” vendors dedicated to mobile development and deployment platforms.
• twelfth of sixteen vendors worldwide (including global ISVs such as SAP, Apple, IBM and Microsoft)
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CitronGO! & GO!Social Architecture!Services Server Device
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Mobile Device Management
Secure Container * Mobile Email Management * Mobile Application Management * Mobile Content Management * Secure Browsing, Chat, Group Chat
Mobile App Development Plavorm
+ +
GLOBO se~ng a new Benchmark in Enterprise Mobility
Enterprise Mobility Mgmt MADP
A Complete EMM Platform!
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On-‐Premise or Cloud
Centralized Dashboard
Security & Policies
App Management
Mobile Device Management
Real-‐4me visibility and control of mobile data, devices, and applica4ons.
Real-‐4me Sta4s4cs
Repor4ng & Logging
Compliance & Alerts
End User Self-‐Service
Enterprise Mobility Management!
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Secure WorkSpace
• Contacts
• Calendar
• Tasks
• Notes
• File Access
• Messages
• Groups
• Secure browser
• Secure camera
• Doc edi4ng
• Custom apps built using
GO!AppZone Studio
Secure mobile produc4vity and collabora4on using applica4on containeriza4on.
Enterprise Mobility Management!
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App development, deployment, and security
• Visual, near zero-‐code IDE
• Synchronize data with back-‐end systems
• Build once, deploy anywhere
• End-‐to-‐end encryp4on
• Hybrid technology
• Drag-‐and-‐drop development
enhanced with JavaScript, CSS, HMTL5
Mobilize any business applica4on rapidly, securely, and cost-‐efficiently.
Mobile Application Development Platform!
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Deliver end-to-end mobility solutions!The extensive mobility know-‐how on the mobile plavorms and technologies enables us to implement mobile solu4ons across many Industries
!Professional Services!Dedicated experienced applica4on development teams can design, develop and deploy enterprise mobile applica4ons based on GO!Enterprise plavorm
Expert Consulting!Dedicated team of engineers and field experts together with highly experienced R&D teams are available for presales and post sales consul4ng
Mobility Business Solutions!
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2014 FINAL RESULTS 30 April 2015