2014 FINAL RESULTS 30April2015# · 2017. 6. 27. · 2 Disclaimer...

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2014 FINAL RESULTS 30 April 2015

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Disclaimer The informa4on contained in this confiden4al document and any accompanying verbal presenta4on (“Presenta4on”) has been prepared by Globo PLC (the “Company”). It has not been fully verified and is subject to material upda4ng, revision and further amendment. This Presenta4on has not been approved by an authorised person in accordance with Sec4on 21 of the Financial Services and Markets Act 2000 (“FSMA”) and therefore it is being delivered for informa4on purposes only to a very limited number of persons and companies who are persons who have professional experience in maQers rela4ng to investments and who fall within the category of person set out in Ar4cle 19(5) of the Financial Services and Markets Act 2000 (Financial Promo4on) Order 2005 (the “Order”) or are high net worth companies and unincorporated associa4ons within the meaning set out in Ar4cle 49(2) of the Order or are otherwise permiQed to receive it. 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RBC Europe Limited (trading as RBC Capital Markets) ("RBC") is ac4ng in the provision of corporate finance business to the Company, within the meaning of the Financial Conduct Authority’s Conduct of Business Sourcebook (“COBS”), and no-‐one else in connec4on with the proposals contained in this Presenta4on. Accordingly, recipients should note that RBC is neither advising nor trea4ng as a client any other person and will not be responsible to anyone other than the Company for providing the protec4ons afforded to clients of RBC under the COBS nor for providing advice in rela4on to the proposals contained in this Presenta4on. While the informa4on contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give, have given or have authority to give, any representa4ons or warran4es (express or implied) as to, or in rela4on to, the accuracy, reliability or completeness of the informa4on in this Presenta4on, or any revision thereof, or of any other wriQen or oral informa4on made or to be made available to any interested party or its advisers (all such informa4on being referred to as “Informa4on”) and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tor4ous, statutory or otherwise, in respect of, the accuracy or completeness of the Informa4on or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presenta4on. This Presenta4on may contain forward-‐looking statements that involve substan4al risks and uncertain4es, and actual results and developments may differ materially from those expressed or implied by these statements. These forward-‐looking statements are statements regarding the Company's inten4ons, beliefs or current expecta4ons concerning, among other things, the Company's results of opera4ons, financial condi4on, prospects, growth, strategies and the industry in which the Company operates. By their nature, forward-‐looking statements involve risks and uncertain4es because they relate to events and depend on circumstances that may or may not occur in the future. These forward-‐looking statements speak only as of the date of this Presenta4on and the Company does not undertake any obliga4on to publicly release any revisions to these forward-‐looking statements to reflect events or circumstances aZer the date of this Presenta4on. To the extent available, the industry, market and compe44ve posi4on data contained in these materials come from official or third party sources. Third party industry publica4ons, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but there is no guarantee of the accuracy or completeness of such data. Neither the issue of this Presenta4on nor any part of its contents is to be taken as any form of commitment on the part of the Company to proceed with any transac4on and the right is reserved to terminate any discussions or nego4a4ons with any prospec4ve investors. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connec4on with any appraisal or inves4ga4on of the Company. In furnishing this Presenta4on, the Company does not undertake or agree to any obliga4on to provide the recipient with access to any addi4onal informa4on or to update this Presenta4on or to correct any inaccuracies in, or omissions from, this Presenta4on which may become apparent. This Presenta4on should not be considered as the giving of investment advice by the Company or any of its shareholders, directors, officers, agents, employees or advisers. In par4cular, this Presenta4on does not cons4tute an offer or invita4on to subscribe for or purchase any securi4es and neither this Presenta4on nor anything contained herein shall form the basis of any contract or commitment whatsoever. Each party to whom this Presenta4on is made available must make its own independent assessment of the Company aZer making such inves4ga4ons and taking such advice as may be deemed necessary. In par4cular, any es4mates or projec4ons or opinions contained herein necessarily involve significant elements of subjec4ve judgment, analysis and assump4ons and each recipient should sa4sfy itself in rela4on to such maQers. Neither this Presenta4on nor any copy of it may be (a) taken or transmiQed into Australia, Canada, Japan, the Republic of Ireland, the Republic of South Africa or the United States of America (each a “Restricted Territory”), their territories or possessions; (b) distributed to any U.S. person (as defined in Regula4on S under the United States Securi4es Act of 1933 (as amended)) or (c) distributed to any individual outside a Restricted Territory who is a resident thereof in any such case for the purpose of offer for sale or solicita4on or invita4on to buy or subscribe any securi4es or in the context where its distribu4on may be construed as such offer, solicita4on or invita4on, in each case, of (a), (b) and (c), except in compliance with any applicable exemp4on from requirements surrounding the circula4on of such materials and the solicita4on of investors. The distribu4on of this document in or to persons subject to other jurisdic4ons may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restric4ons. Any failure to comply with these restric4ons may cons4tute a viola4on of the laws of the relevant jurisdic4on. This Presenta4on does not cons4tute a recommenda4on regarding any securi4es or an investment in the Company. The securi4es have not been and will not be registered under the US Securi4es Act of 1933, as amended (the “Securi4es Act”). Consequently, the Ordinary Shares may not be offered, sold or otherwise transferred within the United States or to, or for the account or benefit of, any US Persons (as that term is defined in Regula4on S under the Securi4es Act), except pursuant to an exemp4on from the registra4on requirements of the Securi4es Act and the relevant state securi4es registra4on requirements. The Company has not been registered and will not register under the United States Investment Company Act of 1940, as amended. No public offering of the Ordinary Shares is being made in the United States.

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Agenda

•  2014 Highlights Cos4s Papadimitrakopoulos,CEO

•  2014 Financial Review Dimitris Gryparis, FD

•  Our Market Cos4s Papadimitrakopoulos

•  Outlook Cos4s Papadimitrakopoulos

•  Q&A

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GLOBO : EMPOWERING THE MOBILE ENTERPRISE

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GLOBO Today

EMPOWERING THE MOBILE ENTERPRISE Deployments in 50+ countries

TOTAL HEADCOUNT USA (123) | UK (21) | Greece (198) | India (117) | ROW (10)

Founded 1997

Listed on AIM since 2007 LSE:GBO Market Cap: £180 million

REVENUE 2014: €106.4m 2013: €71.5m

3.5m ac4ve users of consumer services 834k enterprise users 31.8m device licenses for consumer apps

REVENUE METRICS •  Revenue per employee: €210K •  GO!Enterprise License Renewal Rate: 95% •  CitronGO! Renewal Rate: 65% •  Repeat Project Rate: 60%

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2014 Results Summary

•  Revenue up 49% -‐ driven by organic license growth •  85% organic revenue growth •  15% acquired revenue

•  Third consecu4ve year of increased posi4ve free cash flow •  Interna4onal growth with US focus

•  North America Revenue at €15.5 million (2013: €3.6 million), increased by 334%

•  Unique offer of combined Device Management and App Development Plavorms

•  Momentum expected to con4nue through 2015

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Licenses and End User Growth •  GO!Enteprise EMM licences up 145% to 834,000 •  GO!Enterprise MADP licences up 143% to 31.8 million •  CitronGO!/GO!Social monthly ac4ve users up 17% to 3.5 million

2014 Operating Highlights

AcquisiSon of Sourcebits Inc. •  Acquisi4on of Sourcebits Inc., services division for US$12.2m in cash •  Adds User Interface / User Experience know how, mobile strategy and analy4cs exper4se,

scale (San Francisco, Bangalore) and clients

Enterprise Client wins and Integrated contracts •  New clients: Siemens, TUI, TNT, PeopleCert, Intracom Telecom •  Australia: New South Wales Health Administra4on •  UK: Milton Keynes LA

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US Expansion •  Sourcebits Inc. now fully-‐integrated within the Group’s US opera4ons •  25% of Group employees based in the US •  Founder and CEO, Cos4s Papadimitrakopoulos, relocated to Palo Alto, California, where

the US opera4ons are headquartered

Industry recogniSon •  Gartner’s Magic Quadrant for EMM Report (June 2014) •  Ovum’s 2014-‐15 Decision Matrix for EMM Solu4ons (September 2014) •  IDC’s report on MADP (December 2014)

Product Suite Expansion •  Launch GO!AppZoneStudio, a comprehensive mobile applica4on development plavorm

(MADP) and GO!Enterprise WorkSpace, offering an improved user experience •  Significant new features added to exis4ng product line

2014 Operating Highlights

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2014 Financial Review

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Revenue increased 49% to €106.4m •  Primarily due to organic license growth •  GO!Enterprise revenue up 94% to €57.9m •  CitronGO! / GO!Social revenue up 11% to €38.5m

EBITDA increased 41% to €50.9m

Profit before Tax increased 30% to €35.7m Increased free cash flow of €7.3m

•  Reflec4ng shorter collec4on terms from enterprise mobility products and Services

EPS increased by 27% to €0.094 (2013: 0.074)

2014 Financial Highlights

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Gross profit margin 59.0% (2013: 56.2%)

Opera4ng profit margin 35.1% (2013: 38.2%)

Investment in R&D €23.5m (2013: €14.6m)

EBITDA Cash Conversion Ra4o

72% (2013: 63%)

Free Cashflow €7.3m (2013: €5.2m)

Net Cash Posi4on (at 30 December 2014) €40.4m (2013: €42.8m)

2014 DSOs

169 days (2013: 143 days)

2014 Results Metrics

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2014 Revenue: Segment Analysis

€57.9m

€38.5m

€6.6m €3.4m

GO!Enterprise CitronGO! Telecom SaaS 3rd Party Goods

GO!Enterprise

CitronGO!

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-‐

10,0

20,0

30,0

40,0

50,0

60,0

FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 H1 2011

H2 2011

H1 2012

H2 2012

H1 2013

H2 2013

H1 2014

H2 2014

CitronGO! /GO!Social Revenue GO!Enterprise Revenue

2014 Revenue: GO!Enterprise vs CitronGO!

GO!Enterprise becoming the dominant revenue stream.

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•  Enterprise Mobility Management (EMM) licenses

•  Revenue up 117% to €12.6 m (2013: €5.8 m)

•  Mobile ApplicaSon Development (MADP) licenses

•  Revenue up 120% to €20.0 m (2013: €9.1 m)

•  Mobility Business SoluSons

•  Revenue up 69% to €25.3 m (2013: €15.0 m)

GO!Enterprise Operations

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•  CitronGO! / GO!Social services

•  Revenue up 11% to €38.5 m (2013: €34.8 m)

•  Telecom Services – S.a.a.S

•  Revenue up 35% to €6.6 m (2013: €4.9 m)

CitronGO! – GO!Social & other operations

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Cashflow: Free Cashflow Generation 2014

•  Cashflow from opera4ons:

€36.4million (+ 60%)

•  EBITDA Cash Conversion Ra4o: 72% (2013: 63%)

•  2014 FCF: €7.3m

•  Improved working capital

requirements rela4ve to 2013

Free Cashflow Bridge

37,3

13.5 13.6

5.5

24.4

7,3 0,0

10,0

20,0

30,0

40,0

50,0

60,0

Op D&A Working Capital

Int/Tax FreeCF

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Cashflow: Working capital improvement

Free Cashflow Bridge 2014 Free Cashflow Bridge 2013

2013 revenue growth : 25.5 million | Working Capital : 13.3 million (52%)

2014 revenue growth : 34.9 million| Working Capital : 13.6 million (39%)

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FY2014 Highlights

•  Excellent financial performance – posi4ve free cash flow and robust balance sheet

•  US Expansion in focus and on track •  Important acquisiSons completed, boos4ng our

capabili4es •  InternaSonal growth strategy underway •  Launch of new innovaSve products •  Well posiSoned in a dynamic marketplace

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Outlook

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2015 Performance and Outlook Post period-end highlights • GO!Enterprise EMM: 50,000 licence renewal and incremental purchase order from a US Fortune 100 company • Globo included in March 2015 Ovum’s Decision Matrix report 2015-‐16 • FIPS 140-‐2 Trading outlook • Strong momentum expected to con4nue as a result of tradi4onally stronger second half and con4nued US expansion • The principal focus in 2015 remains expansion of the Group’s US revenues and market presence, through organic growth, the addi4on of key personnel and, where appropriate, selec4ve earnings-‐accre4ve acquisi4ons.

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Appendix

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We Empower the MOBILE ENTERPRISE

Securing Devices, Data & Apps

Helping Enterprises develop a -‐ Mobile Strategy, to engage with its audience

Provide project end to end consul4ng and services

Our Mission

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By 2017: a combined BYOD-‐market worth $7.0bn*

Driven by a rise in smart devices from 55% to 88% of all mobiles in US / W. Europe

And an overall increase in mobile devices from 7bn to 10bn

By 2017 esSmated market worth $7bn: EMM $2.2bn and MADP $4.8bn

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

2014 2015 2016 2017

MADP $bn EMM $bn

Our Market: The Enterprise Mobility Opportunity

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Enterprise Mobility: The Future

3rd Plavorm compute and service distribu4on paradigm is permanent

BYODàBYOAppàMYOC (manage your own content), and beyond

Highly heterogeneous “customers”, modali4es, and client side environments

Iden4ty is the new endpoint, not devices

Vendor selec4on is a “future proofing” challenge

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Full product offering

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Understanding MBS

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GLOBO a partner of choice

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Better view under a magnifying glass

EMM MADP Globo GO!Enterprise Globo GO!AppZone SAP Mobile Secure

SAP Mobile Plavorm

IBM MaaS360 IBM Worklight

Kony Management Cloud Kony Development Cloud

Airwatch by VMware Salesforce.com

Good Technology Oracle

MobileIron Adobe

Symantec Verivo

Trend Micro Appcelerator

Apperian FeedHenry

SOTI Sencha

Offer capabili4es across both markets

Extensible container integra4ng EMM & MADP

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One of the few vendors..

VendorsCustomer Needs

Mobile Enterprise

Device, Produc4vity

Devices

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FEWER

MANY

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License Customers

Customers! Partners!

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Mobility Business Solutions Customers Customer Showcase

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Appendix

Reports -

Products

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JUNE 2014: Globo recognised by Gartner

Globo included in Gartner’s Enterprise Mobility Management Magic Quadrant (MQ) Ahead of well-‐known players for “Product Completeness and Vision”

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SEPT 2014: Globo in OVUM Decision Matrix

Globo included in Ovum’s Enterprise Mobility Management SoluSons Decision Matrix • Posi4oned as Challenger • One of the few offering 5 out of 6 EMM func4onali4es

Publication Date: 17 Sep 2014 | Product code: IT0021-000023

Richard Absalom

Ovum Decision Matrix: Selecting an Enterprise Mobility Management Solution, 2014–15


© 2014 Ovum. All rights reserved. Unauthorized reproduction prohibited. Page 7

Figure 1: Ovum Decision Matrix: Enterprise Mobility Management, 2014–15

Source: Ovum

Figure 2: Expanded view of Ovum Decision Matrix: Enterprise Mobility Management, 2014–15

Source: Ovum

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SEPT 2014: Globo in OVUM Decision Matrix Globo among the leaders in: •  Mobile Applica4on

Development Plavorm •  Iden4ty Access

Management



Oracle Another mega-vendor slightly too late to market to feature in this Ovum Decision Matrix, Oracle is bringing its enterprise application development and management experience to the EMM space. The acquisition of MAM vendor Bitzer Mobile in November 2013 kick-started Oracle's strategy around mobile. This mobile strategy is based on providing out-of-the-box mobile enterprise apps, developing custom apps or extending out-of-the-box apps, and securing all of these different types of apps across multiple platforms. As might be expected, Oracle offers strong MADP features, and also MDM, MAM, and IAM across iOS and Android.

Market leaders Market leaders: Technology Figure 3: Ovum Decision Matrix: Enterprise Mobility Management, 2014–15 – Market leaders – technology

Source: Ovum


Richard Absalom


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Market leaders: Execution Figure 4: Ovum Decision Matrix: Enterprise Mobility Management, 2014-15 – Market leaders – execution

Source: Ovum

The overall leaders score highly across the execution rankings, which is largely what differentiates them from the challengers. Three vendors in particular – AirWatch, Citrix, and MobileIron – recorded 12 top three scores between them, and at least one of them appears in the top three vendors across each execution ranking.

The leaders in the maturity category – AirWatch, Citrix, Good Technology, and SAP – have not only been around on the market for a significant amount of time, but they also have strongly defined feature roadmaps and well-developed sales functions.

A number of vendors scored very highly on interoperability, demonstrating an ease of integration into customers' operations, and also with various other solutions and services. AirWatch, MobileIron, and Good Technology in particular have extensive API sets and large ecosystems of productivity application partners.

MobileIron, Citrix, and AirWatch scored the highest in terms of innovation, not just around feature sets but also in terms of business alignment, architecture, and commercial models. MobileIron in particular has largely built its business from day one around the components Ovum now identifies as core to an EMM solution.

SEPT 2014: Globo in OVUM Decision Matrix Globo among the leaders in: •  Enterprise Fit •  Scalability


Richard Absalom


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Jan 2015: Globo in IDC MADP Marketscope

Globo's GO!AppZone MADP offering is ranked: • first in terms of revenue growth (307% for the period 2012-2013)

• second among seven “pure play” vendors dedicated to mobile development and deployment platforms.

• twelfth of sixteen vendors worldwide (including global ISVs such as SAP, Apple, IBM and Microsoft)

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CitronGO! & GO!Social Architecture!Services Server Device

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Mobile Device Management

Secure Container * Mobile Email Management * Mobile Application Management * Mobile Content Management * Secure Browsing, Chat, Group Chat

Mobile App Development Plavorm

+ +

GLOBO se~ng a new Benchmark in Enterprise Mobility

Enterprise Mobility Mgmt MADP

A Complete EMM Platform!

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On-‐Premise or Cloud

Centralized Dashboard

Security & Policies

App Management

Mobile Device Management

Real-‐4me visibility and control of mobile data, devices, and applica4ons.

Real-‐4me Sta4s4cs

Repor4ng & Logging

Compliance & Alerts

End User Self-‐Service

Enterprise Mobility Management!

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Secure WorkSpace

•  Email

•  Contacts

•  Calendar

•  Tasks

•  Notes

•  File Access

•  Messages

•  Groups

•  Secure browser

•  Secure camera

•  Doc edi4ng

•  Custom apps built using

GO!AppZone Studio

Secure mobile produc4vity and collabora4on using applica4on containeriza4on.

Enterprise Mobility Management!

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App development, deployment, and security

•  Visual, near zero-‐code IDE

•  Synchronize data with back-‐end systems

•  Build once, deploy anywhere

•  End-‐to-‐end encryp4on

•  Hybrid technology

•  Drag-‐and-‐drop development

enhanced with JavaScript, CSS, HMTL5

Mobilize any business applica4on rapidly, securely, and cost-‐efficiently.

Mobile Application Development Platform!

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Deliver end-to-end mobility solutions!The extensive mobility know-‐how on the mobile plavorms and technologies enables us to implement mobile solu4ons across many Industries

!Professional Services!Dedicated experienced applica4on development teams can design, develop and deploy enterprise mobile applica4ons based on GO!Enterprise plavorm

Expert Consulting!Dedicated team of engineers and field experts together with highly experienced R&D teams are available for presales and post sales consul4ng

Mobility Business Solutions!

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2014 FINAL RESULTS 30 April 2015

2014 FINAL RESULTS 30April2015# · 2017. 6. 27. · 2 Disclaimer...

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