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Zest S.p.A. — Investor Presentation 2015
Sep 25, 2015
4354_rns_2015-09-25_44a48cb1-bde0-4825-94ea-e45a98b843c5.pdf
Investor Presentation
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LVenture Group* CAPITAL FOR GROWTH
INVESTING IN STARTUPS THROUGH A LISTED COMPANY
Luigi Capello - CEO
Lugano Small & Mid Cap Investor Day
25.09.2015
DISCLAIMER
- The manager responsible for the drafting of financial documents, Francesca Bartoli says, $\bullet$ based on the provisions of the second paragraph of Art. 154-bis of Legislative Decree No. 58 of February 24, 1998 (TUF), the accounting information contained in this presentation correspond to the documentary results, books and accounting entries.
- Some of the information enclosed in this document are futuristic, subject to risks and $\bullet$ uncertainties that could lead to differences.
- Each estimate contained in this document is referred to 16 September 2015 and, any $\bullet$ underlying assumptions and circumstances or any data quoted may be subject to future changes. LVenture Group S.p.A. expressly disclaims and assumes no responsibility for inaccuracies or estimates or forecasts with respect to any use that third parties may make of such estimates or forecasts.
- This document does not constitute an offer or a recommendation to purchase or sell financial $\bullet$ products and/or represents any form of financial service. Finally, this document does not constitute a public offer of financial products in Italy, as defined under art. Letter t 1 of TUF, $^{\prime}$ and in any other States or Country.
- In addition to standard formats and indicators required by IFRS, this document contains $\bullet$ numbers or reclassifications and alternative performance indicators. The goal is to help users assess the best possible economic and financial performance of the group. However, these reclassifications or indicators cannot be used as a substitute for required data by IFRS standards.
LVenture Group*
INTERNATIONAL RANKING
CBINSIGHTS «The 2014 European Tech Report»
Most Active Venture Capital Investors in EU Tech: 2014
Source: bit.ly/TECH EU2014
LVenture Group*
LVenture Group operates on an international level in Venture Capital investing in «fast-growth companies» of the digital world
OUR MODEL
We maximize value creation by transforming early-stage startups into successful companies
POSITIONING
Our investments, along with hands-on involvement, enable and accelerate startups to access and expand on the global markets
ARBITRAGE OPPORTUNITY
Investing in Italy with attractive valuations and rapidly bringing startups into international markets with higher valuations
CURRENT BUSINESS MODEL
Entering at early stage with attractive valuations Example 18 Subset Surces and professional processes Example 1: Full support with an entrepreneurial approach ........ Small investments and diversified portfolio
THE ACCELERATOR
Work space: 2000 sqm inside Termini Central Station in Rome Acceleration Program: our Extreme Project Management (XPM) brings startups to market and revenue-generation in 5 months
THE ECOSYSTEM
EVenture Group*
OUR ACHIEVEMENTS
PORTFOLIO VALUATION & GROWTH
LVenture Group*
Source: our elaboration based on internal data
* The value is calculated on the basis of the market valuations of the startups that are part of the portfolio of LVenture Group and not under IFRS standards ** The overall pro quota increase is equal to $\epsilon$ 2.7 million that is attributable for $\epsilon$ 1.0 million to the increase of value of the startups in the portfolio and for € 1.7 million to new investments in those.
INVESTMENT CRITERIA & PORTFOLIO
LVenture Group*
PORTFOLIO
LVenture Group*
PORTFOLIO EVOLUTION EXITS & CAPITAL GAINS
Exit: after 5 years 60% of all Seed Investments assuming 5.45x CoC
SUMMARY BUSINESS PLAN 2015 - 2018
| Consolidated $(\epsilon 000's)$ |
2015E | 2016E | 2017E | 2018E |
|---|---|---|---|---|
| Revenues | 1,551 | 2,145 | 2,609 | 3,197 |
| Operating Costs | (2,259) | (2,751) | (2,938) | (3,157) |
| EBITDA | (708) | (606) | (329) | 40 |
| Write-off | (535) | (725) | (1,144) | (1,779) |
| EBIT | (1, 321) | (1, 438) | (1,588) | (1,863) |
| Capital Gains | 634 | 2,394 | 3,815 | 5,070 |
| Net Result | (704) | 936 | 2,207 | 3,149 |
LVenture Group*
Increasing revenue streams from complementary •• business units like corporate innovation service, DoLab School, etc...
....... Operating margin break-even will be achieved by 2018
..................................... liquidity events
FUNDRAISING
Further capital increase of €4.99m in 2015/2016 to pursue strategic goals
STRATEGIC GOALS
INVEST IN US
EVenture Group*
SHAREHOLDERS
PERFORMANCE ABOVE MARKET STANDARD