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Zest S.p.A. — Investor Presentation 2017
Mar 31, 2017
4354_rns_2017-03-31_0ad76345-0ae4-413e-b875-e8f19ea34cc3.pdf
Investor Presentation
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A Scaling Tech Hub
March 2017
Our Corporate Structure
Listed on Italian Stock Exchange
Minority stakes
Portfolio of 45+ digital startups
Joint Venture with
The Startup Factory
PARTNER NETWORK OF BUSINESS ANGELS
Acceleration Program
Management Team
Giovanni Gazzola COO
Augusto Coppola Director
Magnifico
Board Member
Business Model
500 Proposals per annum MVP Stage
Portfolio of 45+ digital startups
300 Startups in seed stage
Startups selected from the market
DEALFLOW SCREENING & SELECTION INVESTMENT
Acceleration Program
Competitive Advantage
Focus on the Acceleration Program
Startups from the Acceleration Program that receive investments from third party investors
Investment Strategy
Arbitrage Opportunity
Portfolio of 45+ Startups
Including 7 startups currently participating in the Acceleration Program
Portfolio Value
€8.3 mn
Source for PortfoIio Value: IAP Method Portfolio value according to IFRS equal to €9.5mn (+45% vs. €6.7mn in FY2015)
36 months
€21mn
Invested by third parties
Portfolio maturity
Strategic Goals
Exit Revenues
Maximization of startup values
Grow corporate relations and operating margin
Expansion
Build leading international Startup Hub
14
15
Main Deals in 2016
Exit realized in 2016
BERLIN
LONDON
Global Expansion Strategy: Berlin, Milan
Over 5,000 square meters within Termini Station
The Startup Hub in Rome
MILAN
NEW
YORK
ROME
NEW SPACES
INTERNATIONAL PROGRAM (Milan, Berlin)
ACCELERATION
VERTICAL ACCELERATOR (Artificial Intelligence)
OPEN INNOVATION
LOCATION
STRATEGIC PARTNER (€3-5mn)
ANCHOR INVESTOR
CONTINUITY FUND (target €50mn+)
INVESTMENTS
LVG invests in digital startups with high growth and international scale potential
Long term strategic partners as Wind, BNL and Accenture, joint venture with LUISS University for the brand LUISS ENLABS 5 Excellent Network
LVG is a professional investor with a patient approach towards its investments
LVG is the only VC listed on the main segment of the Italian Stock Exchange, allowing complete transparency 4 Visibility
Strong Investment Opportunity
CORPORATES (IRES)
30% (Net benefit)
Significant Fiscal Benefit
19
7.2% (Net benefit)
INDIVIDUAL (IRPEF)
Fiscal benefit recognized only for investments in capital increase
Become the ''place to be'' for the best European innovators
Be among the first investors in the ''Italian Next Big Thing''
Provide significant and consistent returns to our shareholders
We Have Great Ambitions
BP 2017-2020 – Investments (€mn)
Growing investments in startup
Revenue growth driven by Acceleration and Open Innovation Programs
BP 2017-2020 – EBITDA (€mn)
Operating breakeven expected in 2019
Significant cash-in starting from 2018-2019
Positive net result in 2018, total shareholder remuneration of 50% starting from 2019
BP 2017-2020 – Recap (€mn)
Strong growth potential with significant value creation for shareholders
| €mn | 2017E | 2018E | 2019E | 2020E |
|---|---|---|---|---|
| Investments | 2.6 | 3.0 | 3.1 | 3.2 |
| Revenues | 2.7 | 3.4 | 4.2 | 5.0 |
| EBITDA | (0.8) | (0.4) | 0.1 | 0.6 |
| Write-offs | (0.6) | (0.6) | (0.8) | (0.9) |
| Exits Gains | 0.4 | 1.5 | 5.0 | 8.5 |
| Capital Increase | 1.0 | 1.5 | - | - |
LVG – Share Price Performance
Superior performance vs. Italian market during last year
Source: Factset, price re-based as of 29.03.2016
Venture Capital
High Return
Diversified Portfolio
Listed Company
A Scaling Tech Hub
Innovative hub
Scaling ecosystem
Growing portfolio value
Excellent team
Phone +39 06 4547 3124