Unifiedpost Group SA

Earnings Release • Sep 17, 2021

1

Unifiedpost Group 2021 Half-Year Results

September 17, 2021

Disclaimer

"The statutory auditor BDO Bedrijfsrevisoren CVBA, has confirmed that based on their review, nothing has come to their attention that the accompanying interim condensed consolidated financial statements are not prepared, in all material respects, in accordance with IAS 34 "Interim Financial Reporting", as adopted by the European Union.

Cautionary note regarding forward-looking statements: The statements contained herein may include prospects, statements of future expectations, opinions and other forward-looking statements in relation to the expected future performance of Unifiedpost Group and of the markets in which it is active. Such forward-looking statements are based on management's current views and assumptions regarding future events. By nature, they involve known and unknown risks, uncertainties and other factors that appear justified at the time at which they are made but which may not turn out to be accurate. Actual results, performance or events may therefore differ materially from those expressed or implied in such forward-looking statements. Except as required by applicable law, Unifiedpost Group does not undertake any obligation to update, clarify or correct any forward-looking statements contained in this press release in light of new information, future events or otherwise and disclaims any liability in respect hereto. The reader is cautioned not to place undue reliance on forward-looking statements.

Strong H1 2021 performance driven by organic and inorganic growth

Financial Highlights Strategic Achievements

• Six successful acquisitions - integration on track
• Platform roll-out accelerating and scaling to 30 countries
• Established network of almost 1 million companies

Additional Highlights

• Subscription fees +44%
• Recurring digital revenue remains high at 94%
• Sufficient cash and financing to fund future development
• Guidance 2021-2023 is reaffirmed

Excellent positioned to achieve our goal to create an unrivalled pan-European business network

Business KPI Highlights

Strong revenue and margin improvement

Postage & parcel optimisation revenue in H1 2021 explained

• Postage and parcel optimisation revenue entirely from 21 Grams acquisition in January 2021.
• Opportunity to convert large new customer base by cross- and upsell of digital solutions.
• Stable gross margin business.

Unifiedpost Group H1 2021 Results – Finance report

Strong continued investment in R&D and S&M to support growing platform

Unifiedpost Group H1 2021 Results – Finance report

Executing the pan-European strategy with high quality revenue

Unifiedpost Group H1 2021 Results – Finance report

Equity and cash evolution

Balance sheet H1 2021

Assets		Liabilities
Goodwill	€158.7m
Intangible assets	€76.1m	Equity	€211.6m
PPE and right-of-use-assets	€17.1m	Non-controlling interest	€0.3m
Other non-current assets	€1.6m	Non-current liabilities	€36.8m
Current assets	€32.5m	Current liabilities	€62.4m
Cash	€25.1m
Total assets	€311.1m	Total liabilities	€311.1m

Pan-European platform roll-out on track

A pan-European expansion strategy

Successful integration on track

Examples – Belgium & France

Billtobox/Banqup – Accessing the high growth Belgian market Billtobox/Banqup – Accessing the high growth Belgian market

• Jefa • Organic growth of 53% in 2021 YTD, towards 30,045 businesses, of which 85.4% are paid subscriptions.
  • Migration and going live of countries in bulk in Q4 2021.
• cture – Well positioned to win mass customer onboarding in France • One Banqup.com strategy to support a collaborative model.

Jefacture – Well positioned to win mass customer onboarding in France

• Partnerships with several robotic accounting (RBA) partners, such as Idocus and Effiz, and with accountancy software providers such as ACD.
  • Definition of a complementary proposition for companies who have their own accountancy department. Agreement with ECMA to centralise this under the common brand Jefacture.com.
• Definition of a corporate proposition towards big billers, complementary to Jefacture SME receivers.
• Partnerships with service providers for corporate billers like Imprimerie National.
• About 1,200 accounting firms connected to the platform, with document volumes doubling every 3 months.

Unifiedpost Group H1 2021 Results – Activity report 14

Guidance 2021-2023 – Growth indicators are reconfirmed

Contact data and financial calendar

Join us

• 20 September 2021: Barclays European Payments & Fintech Conference
• 19 November 2021: Publication Q3 Business Update
• 20 November 2021: Finance Avenue (Tour & Taxis, Brussels)
• 23 November 2021: Kempen London Conference
• 1 December 2021: Investor Day
• 7 December 2021: Berenberg European Conference Pennyhill

https://unifiedpost.com/en/investor-relations

Find us

Unifiedpost Group Avenue Reine Astrid 92A 1310 La Hulpe, Belgium