The Platform Group AG

Investor Presentation • Nov 23, 2024

THE PLATFORM GROUP

9M 2024 Results Presentation
$22^{\text {th }}$ November 2024

THE PLATFORM GROUP

Update

OUR MANAGEMENT STRUCTURE

Keyments

Consumer Goods
Freight Goods
Industrial Goods
Service and Retail Goods

LATEST DEVELOPMENTS (3 MONTH)

LATEST DEVELOPMENTS (3 MONTH)

Acquisition of Wehrmann (B2B machine platform)

Final migration of ViveLaCar/Cluno (car subscription platform)

LATEST DEVELOPMENTS (3 MONTH)

Increase of Guidance

(Guidance 09/2024)

Increase scalability of our TPG One Software System
(new API, new CMS, new frontend 01/2025)

WITH TPG SOFTWARE OUR PARTNERS GET ACCESS TO GLOBAL ECOMMERCE - 23 INDUSTRIES COVERED

RESEARCH / COVERAGE

LATEST UPDATE	INSTITUTION	RECOMMENDATION	PRICE TARGET (EUR)
NOV 05, 2024	FIRST BERLIN	Initiation	16.00 (Initiation)
OCT 28, 2024		Initiation	n/a
OCT 10, 2024	BIN	STRONG BUY (Initiation)	13.60 (Initiation)
SEP 30, 2024	Pareto Securities	Credit Comments	n/a
SEP 30, 2024	WARBURG RESE ARCH	BUY (old: BUY)	16.00 (old: 16.00)
AUG 26, 2024	ODDO BHF	BUY (old: BUY)	12.50 (old: 12.50)
AUG 26, 2024	amontega	BUY (old: BUY)	13.00 (old: 13.00)
APR 08, 2024	HAuCK aUfHÄUSER LAMPE	BUY (old: BUY)	17.00 (old: 17.00)

Financials

OVERVIEW 9M REPORT 2024 (VS. 9M 2023 PRO-FORMA) CONTINUING OPERATIONS

	9M 2024	9M 2023
GMV	€ 608.4 m	€ 469.3 m
Net revenue (EUR m)	€ 371.2 m	€ 284.5 m
Other revenues (EUR m)	€ 20.1 m	€ 15.2 m
Gross Margin	$35.4 \%$	$35.2 \%$
Marketing Cost Ratio	$6.4 \%$	$6.6 \%$
Distribution Cost Ratio	$7.8 \%$	$7.6 \%$
HR Cost Ratio	$5.4 \%$	$5.6 \%$
Adj. EBITDA (EUR m) (\% margin)	€ 24.6 m $(6.6 \%)$	€ 14.5 m $(5.1 \%)$
Reported EBITDA (EUR m) (\% margin)	€ 39.8 m $(10.7 \%)$	€ 27.1 m $(9.5 \%)$
Net profit (EUR m) continuing operations (\% margin)	€ 28.3 m $(7.6 \%)$	€ 20.3 m $(7.1 \%)$

Takeaways

GMV growth-rate: $+30 \%$
Revenue growth-rate: $+31 \%$

Higher increase compared to internal forecast: More customers, more partners, more consolid. companies. Positive gross margin development in 2024.

Distribution cost ratio with $7.8 \%$ above internal cost target-line (carrier cost increase in 9M 2024). Target ratio guidance with $7.6 \%$ in 2025

EBITDA adj. $+69 \%$ / EBITDA reported $+47 \%$ shows high effectiveness of 2023-2024 cost reduction program.

Net profit contin. operations +39\%; consistent with internal forecast.

OVERVIEW 9M REPORT 2024 (VS. 9M 2023 PRO-FORMA) CONTINUING OPERATIONS

	9M 2024	9M 2023
Net profit (EUR m), continuing operations	$€ 28.3 \mathrm{~m}$	$€ 20.3 \mathrm{~m}$
Net profit (EUR m), not-continuing operations	$€-2.8 \mathrm{~m}$	$€-2.9 \mathrm{~m}$
Net profit (EUR m), total	€ 25.5m	€ 17.4m
thereof minorities	€ 1.4 m	$€ 2.1 \mathrm{~m}$
Earnings per share (EUR), total	€ 1.26	€ 0.86
Earnings per share (EUR), continuing operations	€ 1.39	€ 1.02

Takeaways

Earnings per share with $€ 1.39$ and growth of $+36 \%$ (continuing operations): above internal forecast.

STRONG GMV AND REVENUE GROWTH CONTINUING OPERATIONS

GMV Growth 9M

PROFITABILITY AS A KEY FOR SUSTAINABLE GROWTH CONTINUING OPERATIONS

EBITDA adj. 9M
EBITDA reported 9M

FROM EBITDA ADJUSTED TO EBITDA REPORTED

DEBT SITUATION

$(\epsilon \mathrm{m})$

	30.09 .2024	31.12 .2024 FC	31.12 .2025 FC
Cash + Cash equivalents	$€ 17.2 \mathrm{~m}$	$€ 10.4 \mathrm{~m}$	$€ 14.5 \mathrm{~m}$
Long term Debt (bank loans)	$€ 32.3 \mathrm{~m}$	$€ 33.1 \mathrm{~m}$
Short term Debt (bank loans)	$€ 37.8 \mathrm{~m}$	$€ 29.3 \mathrm{~m}$	$€ 107.6 \mathrm{~m}$
Bond	$€ 30.0 \mathrm{~m}$	$€ 30.0 \mathrm{~m}$
Net Debt	$€ 82.9 \mathrm{~m}$	$€ 82.0 \mathrm{~m}$	$€ 91.1 \mathrm{~m}$
LTM EBITDA	$€ 32.7 \mathrm{~m}$	$€ 32.0 \mathrm{~m}$	$€ 41.0 \mathrm{~m}$
Leverage	2.5 x	2.6 x	2.3 x

Target Leverage 2025
$1.5-2.3 \times$ LTM EBITDA

THE PLATFORM GROUP: NON-FINANCIAL KPI

	9M 2024	9M 2023
Number of Orders (period)	5.1 m	4.1 m
Average order value (EUR)	121	115
Active Customers (LTM)	4.5 m	3.8 m
Number of Employees (30.09.)	892	771
Number of Partners (30.09.)	12.981	11.683

Takeaways

Positive development: More partners (12.981) bring more products. More products bring more customers ( 5.1 m ), more customers bring more orders ( $9 \mathrm{M}: 5.1 \mathrm{~m}$ ).

Average order value increased to 121€ (2023: 115€), due to less discounts and delisting of low price-products.

Higher staff ( 892 employees) due to acquired companies

Total growth revenue: $€ 87 \mathrm{~m}(=100 \%)$

THE PLATFORM GROUP: SEGMENT OVERVIEW

Consumer Goods

Products with simple logistics and focus on consumer goods
Sustainable Products
Fashion/Shore/Luxury
Accessories
Jewelry and
Watches

Fraight Goods

Products with complex
transport, logistics and
delivery processes in the
area of freight logistics
Furniture
Forest Equipment
Bicycles
E-Scooters
Cars

Industrial Goods

B2B focus on industrial goods and industrial solutions
Trading with used
machines / B2B
Dental equipment B2B
Hardressing B2B platform
Car/fruck parts trade
Industrial supplies

Service \& Retail

Products and services that are remunerated on the basis of performances
Platform for local pharmacies
Platform for pharmaceutical manufacturers
Online learning platforms
Factoring and real estate platform
Local Stores

Revenues by Segment (9M 2024)

(in m€, continuing operations). Total $€ 371.2 \mathrm{~m}$ net revenue

Outlook

OUR GUIDANCE 2024

Developments 9M 2024

Better Q3 2024 results than internal forecast / Strong beginning of Q4 2024

Higher profitability due to cost efficiency program (2024) and scalable cost structure

Positive market tailwinds: B2B + B2C spending grow

Excellent conditions for new acquisitions in 2024 and 2025 with fair values

Increased scalability of our TPG One Software Platforms allows us to connect partners faster and enter new industries within $<4$ month

TPG GUIDANCE (09/2024)

M\&A PIPELINE Q4 2024 / Q1 2025

B2C Commerce

• Industry: Opticians
• Country: Germany
• Focus on high margin
  opticians and online platform for opticians

Acquisition:

• 50,1\% Acquisition
• Management remains
• Call-/put options 2027

Status:
DD:	done
SPA/Signing:	Jan. 2025

B2B Finance platform

• Industry: Finance
• Country: Germany
• Focus on finance platform solutions and finance B2Bclients

Acquisition:

• 50,1\% Acquisition
• Management remains
• Call-/put options 2027

Status:
DD:	done
SPA/Signing:	Dec. 2024

B2C Commerce

• Industry: Luxury
• Country: USA
• Focus on luxury clothing and bags, 90\% UScustomers, $>500$ stores connected

Acquisition:

• 50,1\% Acquisition
• Management remains
• Call-/put options 2027

Status:
DD: ongoing/open
SPA/Signing: Jan/Feb. 2025

OUR FUTURE STRATEGY

LEADING POSITION	POWER OF SCALE NEW MARKETS	CONTINUED M\&A EXPANSION	GEOGRAPHICAL EXPANSION
Becoming the No. 1 Platform in Europe	Expanding into 30 industries by 2025	3-8 Acquisitions per year	Increasing geographical footprint outside of Germany
Organic growth higher than market		Long-term goal of $50 \%$ organic / $50 \%$ inorganic growth	Near-term France and Italy, long-term U.S. and India

IR CONTACT

Financial CALENDAR

DATE
EVENT

NOW 25, 2024
German Equity Forum 25 - 27 November 2024, Frankfurt/Main

NOW 22, 2024

Publication Quarterly Statement (call-date Q3)

NOW 19, 2024

CIC Forum 19 - 21 November 2024, Paris

NOW 13, 2024

MKK - Munich Capital Market Conference, Munich

09-2024

Equity Forum Fall Conference 2 - 3 September 2024, Frankfurt/Main

REINHARD HETKAMP (CFO)
Investor Relations
ir@the-platform-group.com

THANK YOUL