annual general meeting€¦ · “in short, we believe mdf’s core b2b business is a gem (high...

ANNUAL GENERAL MEETING

Longueuil, September 11, 2019

A LOOK ATMEDIAGRIF• E-commerce pioneer in

Canada• Founded in 1996, public

since 2000• TSX: MDF• 14.8 million shares• Excellent profitability

INTERNATIONAL PRESENCE

LavalLongueuil

Ottawa

AlbanyAtlantaCopenhague

Shenzhen

515 employees

Including 335 Quebec employees

Kanata

Kiev

REFOCUSING OUR OPERATIONS

Focus +

Volatility -

Recurring +

Markets +

2019 FINANCIAL RESULTS

70,2 $ 73,0 $77,7 $ 80,9 $ 83,1 $

FY15 FY16 FY17 FY18 FY19

REVENUES

2015 2016 2017 2018 2019

In Millions of CDN $

$43,4$48,1

$54,9$61,2

$66,1

$26,8 $24,9 $22,8 $19,8 $17,0

2015A 2016A 2017A 2018A 2019A

B2B vs B2C REVENUES

2015 2016 2017 2018 2019

2019 FINANCIAL RESULTS

In Millions of CDN $

2019 FINANCIAL RESULTS

$25,4$22,6

FY18 FY19

ADJUSTED EBITDA2018 AND 2019

*FY18 and FY19 before non-recurring expenses of $2M and $1.9M respectively

$8,5$9,5

FY18 FY19

ADJUSTED PROFIT 2018 AND 2019

($0,57/share)($0,64/share)

FY19 before non-cash impairment charge of $35 million ($2.30/share) on assets held for sale

In Millions of CDN $

2019 FINANCIAL RESULTS

Cash flow: $12,7M

Capital assets ($4M)

Long-term debt($3,2M)

Dividends of $5,9M or $0,40

per share

In Millions of CDN $

FINANCIALHEALTH

• Profitability• Solid balance sheet• Excellent ratios

FINANCIAL HEALTH

Net cash position on debt of $3,9 million - June 30, 2019

06-19 06-1906-1806-18

$12,1

$26,9

$17,0$13,1

Encaisse DetteNet cashAt June 30th

DebtAt June 30th

2018 2019 2018 2019

In Millions of CDN $

ACCELERATE GROWTH

• Targeted investments• Cash flow to act• B2B operations• Growing markets

SOLID FUNDAMENTALS

Recurringrevenues at 80%

Vast international client base

Intellectualproperty

More than500 specialists

Enviable profit margin

Positive liquidity

Financial health

SOLID FUNDAMENTALS

$43,4$48,1

$54,9

$61,2$66,1

$26,8 $24,9 $22,8$19,8

$17,0

2015A 2016A 2017A 2018A 2019A

REVENUS B2B vs B2C

2015 2016 2017 2018 2019

ACCENT ON GROWTH

HELD FOR SALE

SOLD

In Millions of CDN $

NEW PRESIDENT & CEO

Luc Filiatreault

• Wide breadth of relevant experience• Leadership for tech

companies• Business development• Change management

• Starts September 16

Strategic acquisitions

Investments in operations

Marketing, sales, product

management, R&D

GROWTH STRATEGY

Acquisitions to reinforce

our position

STRATEGIC PLANNING EXERCISE

Ambitious growthacceleration plan

Our mission is to provide to ourcustomers innovative and efficient technological solutions. In doing so, we seek to create value for our customers, our employees and ourshareholders.

CURRENT MISSION

ORGANIZATIONS

UNIFIED COMMERCE

STRATEGICSOURCING

EDI

Omnichannel sales

$10B10%

$2B13%

$11B22%

We enable the flow of commerce

NEW MISSION

“In short, we believe MDF’s core B2B business is a gem (high visibility growth), concealed by noise from the much smaller (and highly cyclical) B2C segment. (…)

The resulting company is one with more visibility and growth, and in our experience, both are

key valuation drivers.”

Amr Ezzat, Echelon Wealth Partners, August 7, 2019

ACCORDING TO A FINANCIAL ANALYST

THREE CHALLENGES

Finalize action plan

New level of objectives

Internal and external

communications

1 32

WE BELIEVE

THANK YOU