Investor Presentation • Nov 4, 2021
Investor Presentation
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HAMBURG, 4 NOVEMBER 2021
This presentation was produced in November 2021 by NEW WORK SE (the "Company") solely for use as an information source for potential business partners and is strictly confidential. It has been made available to you solely for your own information and may not be copied, distributed or otherwise made available to any other person by any recipient. This presentation is not an offer for sale of securities in the United States. The distribution of this presentation to you does not constitute an offer or invitation to subscribe for, or purchase, any shares of the XING SE and neither this presentation nor anything contained herein shall form the basis of, or be relied on in connection with, any offer or commitment whatsoever.
The facts and information contained herein are as up-to-date as is reasonably possible and are subject to revision in the future. Neither the Company nor any of its subsidiaries, any directors, officers, employees, advisors nor any other person makes any representation or warranty, express or implied as to, and no reliance should be placed on, the accuracy or completeness of the information contained in this presentation. Neither the Company nor any of its subsidiaries, any directors, officers, employees, advisors or any other person shall have any liability whatsoever for any loss arising, directly or indirectly, from any use of this presentation. The same applies to information contained in other material made available at the presentation.
While all reasonable care has been taken to ensure the facts stated herein are accurate and that the opinions contained herein are fair and reasonable, this document is selective in nature and is intended to provide an introduction to, and overview of, the business of the Company. Where any information and statistics are quoted from any external source, such information or statistics should not be interpreted as having been adopted or endorsed by the Company as being accurate.
This presentation contains forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which the Company operates. These statements are generally identified by words such as "believes," "expects," "predicts," "intends," "projects," "plans," "estimates," "aims," "foresees," "anticipates," "targets," and similar expressions. The forward-looking statements, including but not limited to assumptions, opinions and views of the Company or information from third party sources, contained in this presentation are based on current plans, estimates, assumptions and projections and involve uncertainties and risks. Various factors could cause actual future results, performance or events to differ materially from those described in these statements. The Company does not represent or guarantee that the assumptions underlying such forward-looking statements are free from errors nor do they accept any responsibility for the future accuracy of the opinions expressed in this presentation. No obligation is assumed to update any forward-looking statements.
This presentation speaks as of September 2021. Neither the delivery of this presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date.
Pro-forma results
Results contained in this presentation are partly based on unaudited pro-forma financial results that the Company derived from its preliminary and past financial statements for the indicated periods in order to make these periods comparable and show non-recurring costs.
Cautionary note regarding preliminary results and pro-forma financial results
This presentation contains preliminary results and pro-forma results. The preliminary results may change during their final review. While the Company believes that its pro-forma financial results are reflective of its recurrent trends and the on-going status of its business, there can be no assurance that its pro-forma results will accurately reflect these trends and status and therefore, its investors are urged not to rely solely upon the pro-forma results when making their investing decision and the pro-forma results should always be reviewed together with its actual financial results.
Financial Performance*
Pro-forma service revenues
Pro-forma EBITDA
$(0%)$
$+7\%$
Pro-forma net income $(52%)$
Note: One-time platform D&A done in Q3 2021 and two marketing campaigns negatively impacted yoy comparison
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$+9%$
VS.
$Q3/19$
$\cdots$
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$(\overline{\mathsf{Learn more}})$
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$+9%$
yoy
$(29%)$
VS.
$O3/19$
WORK
| 68.7 | |||
|---|---|---|---|
| (47.7) | |||
| 26.4 | |||
| 38% | |||
| (0.2) | (0.1) | (0.3) | |
| (4.7) | (5.2) | (6.0) | |
| 6.6 | 13.8 | 13.4 | |
| 1.18 | 2.46 | 2.38 |
| Segment EBITDA Q3 2021 |
Q3 2021 Margin |
Q3 2020 Margin |
|
|---|---|---|---|
| B 2 C | 8.5 | 35% | 28% |
| B2B E-Recruiting | 29.3 | 67% | 69% |
| B2B Marketing Solutions & Events | 2.3 | 43% | 12% |
| Tech, Central Services & Other | (13.8) | ||
| Total EBITDA | 26.3 | 36% | 34% |
| Q1 2021 Reported |
IFRS changes in value of financial assets |
Q1 2021 Pro-Forma |
Q1 2020 Pro-Forma |
Q1 2021 Pro-Forma vs. Q1 2020 Pro-Forma |
|
|---|---|---|---|---|---|
| Abs | Abs. | Abs. | Rel. | ||
| Service revenues | 68.0 | 68.0 | 68.9 | (1%) | |
| Other operating income | $0.4^{\circ}$ | 0.4 | 0.6 | (35%) | |
| EBITDA | 24.9 | 24.9 | 17.1 | 46% | |
| D&A | (7.3) | (7.3) | (6.5) | 12% | |
| Financial result | (0.1) | (0.1) | (0.2) | (0.3) | (36%) |
| Taxes | (5.4) | 0.0 | (5.4) | (2.8) | 89% |
| Net income | 12.1 | (0.1) | 12.0 | 7.4 | 62% |
| EPS | 2.15 | (0.01) | 2.14 | 1.32 | 62% |
| Q2 2021 Reported |
IFRS changes in value of financial assets |
Q2 2021 Pro-Forma |
Q2 2020 Pro-Forma |
Q2 2021 Pro-Forma vs. Q2 2020 Pro-Forma |
|
|---|---|---|---|---|---|
| Abs | Abs. | Abs. | Rel. | ||
| Service revenues | 71.0 | 71.0 | 67.5 | 5% | |
| Other operating income | 0.4 | 0.4 | $0.4^{\circ}$ | (11%) | |
| EBITDA | 27.4 | 27.4 | 22.3 | 23% | |
| D&A | (7.8) | (7.8) | (8.2) | (6%) | |
| Financial result | 0.0 | (0.3) | (0.3) | (0.2) | 7% |
| Taxes | (6.1) | 0.1 | (6.0) | (4.4) | 35% |
| Net income | 13.6 | (0.2) | 13.4 | 9.4 | 42% |
| EPS | 2.41 | (0.03) | 2.38 | 1.68 | 42% |
| Q3 2021 Reported |
IFRS changes in value of financial assets |
Q3 2021 Pro-Forma |
Q3 2020 Pro-Forma |
Q3 2021 Pro-Forma vs. Q3 2020 Pro-Forma |
|
|---|---|---|---|---|---|
| Abs | Abs. | Abs. | Rel. | ||
| Service revenues | 73.6 | 73.6 | 68.7 | 7% | |
| Other operating income | 0.5 | 0.5 | 0.5 | 1% | |
| EBITDA | 26.3 | 26.3 | 26.4 | 0% | |
| D&A | (14.8) | (14.8) | (7.3) | (103%) | |
| Financial result | (0.3) | 0.1 | (0.2) | (0.1) | 161% |
| Taxes | (4.7) | (4.7) | (5.2) | 10% | |
| Net income | 6.5 | 0.1 | 6.6 | 13.8 | (52%) |
| EPS | 1.16 | 0.02 | 1.18 | 2.46 | (52%) |
| Consensus collected by IR | 2021e | 2022e | 2023e |
|---|---|---|---|
| Service revenues | 286 | 314 | 347 |
| EBITDA | 25 | 27 | 30 |
| Margin | 97 | 106 | 118 |
| D&A | 34% | 34% | 34% |
| EBIT | $-40$ | $-44$ | $-46$ |
| Margin | 58 | 64 | 74 |
| Net income | 20% | 20% | 21% |
| EPS in $\epsilon$ | 6.90 | 7.59 | 8.59 |
| DPS in $\epsilon$ | 2.77 | 3.06 | 3.32 |
| Analyst coverage | Berenberg, Deutsche Bank, Hauck & Aufhäuser, MM Warburg, Pareto Securities |
VP Investor Relations NEW WORK SE Am Strandkai 1 20457 Hamburg Germany Tel.: +49 (0)40 419 131-793 Fax.: +49 (0)40 419 131-44
E-mail: [email protected]
relations
99
ESG topics > https://www.new-work.se/en/Company-About-New-Work-SE/csr
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