Shaping The Future of Financial Services A D V I S O R Y , T E C H N O L O G Y , D I G I T A L September 2019 Sibos 2019 Edition | Corporate Presentation 0 0
"BE” AT A GLANCE: THE KEY STATEMENTS OF OUR BUSINESS ECOSYSTEM Leading «Business Consulting & IT Services» Group for Full interests alignment among shareholders Financial Institutions. Consulting & ICT expenditure in 01 05 and an experienced management team. Banking sector is expected to keep on growing, reaching over € 65 bln in 2019. In only 7 years from scratch to become a recognized 1-year acceleration in achievement of 2019 professional network in 8 European countries beside 02 06 profitability target , with consolidated EBITDA Italy (~40% of non domestic revenues in 2018). More at € 23.6 mln. than 1,600 professionals involved of which nearly 1,200 permanent. 3-year Plan - to be revised upwards - forecasts in A wide range of value added services offered to 2019 an EBITDA > € 28 mln with M&A and > € 21 € Banks, Insurance companies and other key Financial 03 07 mln on a stand-alone basis ; c onstant Dividends flow Operators; leverage on strong and valuable (dividend yield 2018: 2.44%). partnerships with technology market leaders. Focus on big multinational customers: growing share of wallet among the top 20 Banks in Europe . Reducing Remains active in M&A with potential targets 04 08 portfolio concentration on Top5 clients from 74% to identified in Italy and other European geographies. 53% in 3 years. 1 1
WE ARE DEVELOPING A PROFESSIONAL EUROPEAN NETWORK, BUILDING AND CONSOLIDATING AN OUTSTANDING INDUSTRY KNOWLEDGE PLATFORM ACROSS THE EUROPE 2 2
A UNIQUE SERVICE PORTFOLIO FROM BUSINESS TO IT, WITH DISTINCTIVE CAPABILITIES IN THE FINANCIAL INDUSTRY TO HELP FACE THE MARKET CHALLENGES Business Consulting IT Services Nearshoring Payments & Cards B A N K I N G Retail & Corporate Banking & F I N A N C I A L I S T I T U T I O N Investment Banking Compliance & Risk management Actuarial Advisory I N S U R A N C E C O M P A N I E S Life Insurance core systems Digital Transformation C R O S S Big Data & Advanced Analytics I N D U S T R I E S Multichannel solutions Cyber Security 3 3
IN THE LAST YEARS WE STRENGTHENED THE NON-DOMESTIC POSITIONING: ~ 40% OF TOTAL REVENUES IS GENERATED OUTSIDE ITALY A pan-European platform allows to share «specialisations» and access to clients in Financial Services arena 2018 Results Main Clients Revenues: 150.2 €/M (+15.5% YoY) EBITDA: 23.6 €/M (+37.7% YoY) • ALLIANZ • GENERALI EBT: 10.1 €/M (+30.1% YoY) • BANCO BPM • INTESA SAN PAOLO • BAWAG • LBBW Business & Geographies • BAYERN LB • LLOYDS Business • BNP PARIBAS • MASTERCARD IT Consulting Consulting & Solutions • CARIGE • MEDIOBANCA 71% 29% • CASSA DEPOSITI E PRESTITI • POSTE ITALIANE • CNP • RAIFFEISEN 13.4 €/M 42.1 €/M 3.6 €/M • CREDIT AGRICOLE • SBERBANK • CREDIT SUISSE • SIA • DEUTSCHE BANK • SOCIETÈ GENERALE UK&Spain Italy 60.7% 8.9% • DEUTSCHE BOERSE • UNICREDIT GROUP • DEUTSCHE BUNDESBANK • UNIQA DACH (*) 91.1 €/M 28% • DZ BANK • WESCOT • ENEL CEE 2.4% • FIRST DATA (*) DACH = Germany, Austria & Switzerland 4 4
A SOLID AND SAFE REVENUES PORTFOLIO Revenues from outside Italy Expansion towards Europe Expansion towards Europe Figures in €/mln 150.2 136.7 129.7 Focus on the main European Financial Institutions, 115.4 leveraging on a well established cross-selling and cross- delivery approach 59,1 57 54.1 33 28.6% 41.7% 39.3% 41.7% 2015 2016 2017 2018 Enlargement of the Customer base Enlargement of the Customer base Revenues from Top 5 customers 150.2 Figures in €/mln 136.7 • Reduction of dependence on 1 st customer; in three years 129.7 115.4 nearly doubled revenues on clients not included in the Top Ranking 97 85 • + 20% revenue YoY increase on the 2nd customer, +24% 79.6 70 revenue YoY increase on the other customers’ portfolio 7 4% 53% 71% 54% 2015 2016 2017 2018 5 5
OUR MAJOR ACHIEVEMENTS IN THE PAST 24 MONTHS February 2017 July 2017 September 2017 Acquisition of Chosen by FIMAS (DE), Deutsche International M&A March 2018 May 2018 consulting BundesBank to partnership with June 2018 February 2019 boutique based in support the project Murex, leader in Strategic agreement Acquisition of Q-FIN Frankfurt-Am- of evolving Capital Markets with a leading European Joined the (DE) , company based Acquisition of TESLA Assignments Consulting (IT) , Main, focused on Payments solutions for Bancassurance Group "InFusion Partner in Magdeburg Italian company Trading, Clearing Infrastructure in Enterprise Cross- aimed to support the programme" of specialized in specialized in Cyber and Settlement of the German and asset Trading, Risk technological evolution solutions and Finastra , leader in Security solutions and Partnerships derivatives and European Management and of the proprietary Life Financial Services services for the Digital forensics sw platform , up to 2024 software securities environments Processing Capital Markets services 2017 2018 2019 February 2017 September 2017 April 2018 June 2018 June 2018 April 2019 Acquisition on Selected by one of greater Awarded a multi-year Acquisition of Chosen by a primary Strategic partnership Juniper (IT) , Italian with Yolo Group , leading European Banking Paystrat ( ES), European Systemically contract for the digital company solution provider in the Group to lead the consulting firm based Financial Institutions to management of the active in the On-Demand Insurance implementation of in Madrid and focused support the management SWIFT Transformation development of web segment the PSD2 regulatory on Payments, Digital of Capital Markets ICT Program for a major and multimedia sw compliance Wallets and Market infrastructure , up to 2020 International Banking solutions for the programme Sport, Music and Intelligence Group Events markets 6 6
PEOPLE CARE, DIVERSITY AND IMPROVED CARE ON TRAINING ARE OUR AREAS OF INTERNAL EXCELLENCE: THIS IS REFLECTED IN OUR NON FINANCIAL STATEMENT Internal Workforce composition (HCs) Employees by Gender (%) Employees by Age Group (%) 1.477 Years < 30 50 < Years Female 64% 64% 36% 1.167 1.167 1.167 HCs HCs 310 Internal Other Employees Workforce Male contracts 30 ≤ Years ≤ 50 64% 50% Internal Workforce by Region (HCs) Employees by Role (HCs) Empl.Training by Role (avg hours/year) Other contracts 851 30 46 Partners Employees 9 Partners Managers 143 Managers 12 358 Senior Staff 11 418 Senior Staff 821 Prof. Staff 414 Prof. Staff 16 240 90 BO Prof. 130 10 7 BO Prof. 78 30 178 120 48 Admin 116 Admin 7 West Italy DACH CEE 7 7
A CONTINUOUS GROWTH DURING THE LAST YEARS, ON THE MAJOR BUSINESS INDICATORS FY Total Revenues FY Gross Operating Margin (EBITDA) 150.2 23.6 136.7 129.7 115.4 17.2 16.2 15.0 98.5 84.4 12.9 11.2 +12.2% +16.0% 2018 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 2018 13.3% 13.1% 13.0% 11.9% 13.3% 15.7% FY Operating Profit (EBIT) FY Profit before Tax (EBT) 11.3 10.1 9.2 9.0 7.7 7.5 8.1 6.3 6.1 3.8 4.3 +21.3% +39.4% 1.9 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018 5.1% 6.2% 7.0% 6.7% 6.9% 7.5% 2.3% 3.9% 5.5% 5.5% 5.9% 6.7% Figures in €/mln % CAGR 8 8
1H 2019: THE BEST FIRST HALF RESULT EVER 1H Total Revenues 1H Gross Operating Margin (EBITDA) 74.2 12.0 69.2 10.6 63.0 9.6 +8.5% +11.8% 1H 2017 1H 2018 1H 2019 1H 2017 1H 2018 1H 2019 15.2% 15.3% 16.2% 1H Operating Profit (EBIT) 1H Profit before Tax (EBT) 8.0 6.6 7.3 6.0 5.1 4.5 +25.2% +27.4% 1H 2017 1H 2018 1H 2019 1H 2017 1H 2018 1H 2019 8.1% 9.5% 10.8% 7.1% 8.7% 9.8% Figures in €/mln, 2017 and 2018 restated with IFRS16 impact % CAGR 9 9
CORPORATE OWNERSHIP AND INDEXED STOCK PERFORMANCE Shareholders Share value vs FTSE Italy STAR index trends Be Loys 2.41% Investments 5.11% BE share Axxion 9.99% STAR Floating Achermann family 43.30% 15.78% 2013 2014 2015 2016 2017 2018 2019 I N V E S T O R S M E E T I N G S T.I.P. 23,41% 12.02 Frankfurt - European Mid Cap Event, Intermonte 25.02 Milan - IT Day, Banca IMI 20.03 Milan - Star Conference, Borsa Italiana 14.05 London - Small Mid Cap Forum, Lond Capital C O R P O R A T E C A L E N D A R 16.05 Turin - Eccellenze del Made in Italy, Intermonte 21-22.05 Dublin – Investors Road show 12.03 Board Meeting, 2018 FY results 12-13.06 Frankfurt/Dusseldorf Road Show, Intermonte 18.04 Shareholders Meeting, 2018 FY results 18.06 Paris - European Mid Cap Event, Intermonte 09.05 Board Meeting, 2019 1Q results 27.09 Lugano - Investor day, IRTOP 01.08 Board Meeting, 2019 1H results 22-23.10 London - Star Conference, Borsa Italiana 07.11 Board Meeting, 2019 3Q results dd.12 Geneve - European Mid Cap Event, Intermonte 10 10
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