29
26 & 27 April 2007 Smallcap Events Paris

26 & 27 April 2007 Smallcap Events Paris. 2 Our activities Our business o Two main activities o The same technology o Three markets to adress Different

  • View
    214

  • Download
    0

Embed Size (px)

Citation preview

Page 1: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

26 & 27 April 2007

Smallcap EventsParis

Page 2: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

2

• Our activities Our business

o Two main activities

o The same technology

o Three markets to adress

Different business models

• 2006 results

• Strategy & forecasts

Page 3: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

3

To operate online multimedia services

• Media /Mass market activities

[BtoBtoC / BtoC / BtoO] : To create, agregate, deliver and promote proprietary or outsourced contents and services for the mass market.

• Activities with large companies and administration

[BtoB] :To design, build and operate outsourced IT services (CRM, Facilities Management, Mobile marketing).

2 main activities

A unique business Two main activities

Page 4: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

4

A unique business The same technology

Our technology allows to agregate, deliver and operate proprietary or outsourced solutions/services and contents through telecom networks.

Page 5: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

5

A unique business Three main markets

To operate services for large companies and administration. Jet Multimedia designs and operates outsourced applications in CRM, Facilities Management and Marketing on mobile phones.

Outsourced Editing : Jet Multimedia is the partner of telecom operators and media players to deliver interactive contents and services to the mass market.

Direct Editing : Jet Multimedia sales its interactive contents and services directly to the end-user.

Large companie

s(BtoB)

Mass market(BtoC)

Media(BtoBtoC)

(BtoO)

Page 6: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

6

Business models « Kiosque multimedia »

Premium SMS

The business model : to get a revenue sharing between telecom operators and Jet Multimedia on every sale made to end-user.

Page 7: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

7

Business models BtoC : Direct Editing

Page 8: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

8

Business models BtoBtoC, BtoO : Outsourced Editing

Page 9: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

9

Business models BtoB : Services to corporates

Hosting - Facilities Management :

Direct billing of the different services for :- development of applications,- hosting of infrastructures and/or applications (on a 3-year contract basis).

CRM :o Call centers / Customer contact centerso Multi-network message deliveryo SVI

Billing directly linked to the traffic on the band width, minutes, SMS, MMS, IP Billing on the same revenue sharing model than the « Kiosque multimedia ».

Page 10: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

10

• Our activities

• 2006 results

Revenues

Results by subsidiaries

Profit & loss statement

Balance sheet

Cash Flow Statement

Dividend policy

A strong shareholder

• Strategy & Forecast

Page 11: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

11

Revenues have been triples in the last 5 years

(in M€)

120.0108.5

236.8

154.9

2004IFRS

2005IFRS

+29 %+11 %

+53 %

2002 2003

270.0

2006IFRS

+14%

Sales increase by 150% between 2002 and 2006

Development of activities abroad

Creation of two complementary activities

Page 12: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

12

Two complementary activities

• Media / Mass market activities

[BtoBtoC / BtoC / BtoO] : a competitive market, especially in mobile phone services

Migration towards 3G technology

BtoO : a strong demand from telco operators and MVNO

• Activities with large companies

[BtoB] :a booming market, especially on CRM applications

A strong development abroad :- know how transfert- successful formats and offerings have been exported abroad

62%

38%

% of revenue

Page 13: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

13

A well balanced business mix

In euro millions 2006 %

Change2006/2005

Revenues 270.0 100 % +14%

BtoB 103.4 38 % +34%

BtoBtoC/BtoO/BtoC 166.6 62 % +4%

Net Revenues after revenue sharing 129.6 100% +12%

BtoB 72.0 56 % +21%

BtoBtoC/BtoO/BtoC 57.6 44 % +2%

Page 14: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

14

Development of the Group activities abroad

2003

France Spain

Italy

Argentina

Poland Maghreb - Others

59%88%

2006

30%

11% 5%3%

Page 15: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

15

France (excluding TJM et Mediaplazza)

Revenues = 150.3 M€ (+ 4%) Revenues adjusted from revenue sharing = 68.9 M€ (+7%) Operating Profit = 9.1 M€ (versus 5.8 M€ in 2005)

Very strong results in France (56% of total sales) with an operating result of 9.1 M€ up to 57%.

The level of the operating margin in France shows the strength of the business model and is the benchmark for the activities which are developed abroad.

Page 16: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

16

Activities abroad

Activities abroad represented 39% of the total revenue in 2006 (versus 33% in 2005).

They generate a positive operating result :• Spain : Sales are up 28%, but operating result is down to

4.9 M€ versus 6.9 M€ in 2005 due to investment for growth.• Italy : First improvements after the reorganization launched

in 2006. Operating result close to break-even in H2 2006.• Poland : Successful integration of the acquisition made in

may 2006. Operating result of 1.4 M€ (within 7 months).• Argentina and Maghreb : 1 M€ of revenues in each zone.

Page 17: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

17

TJM and Mediaplazza

Mediaplazza and TJM : A successful offering for the BtoC market In 2006, Mediaplazza has been restructured and refocused. Back

to break-even in the Q4 2006. For its year one, TJM has built a solid catalog of products and has

taken important market share. Operating result : - 3.8 M€. This is mainly an investment for the

future.

2007 : To become a major player in the BtoC market Merger Project between TJM and Mediaplazza. A new manager for these combined activities has been recruted. The new company will be renamed Mediaplazza and will be held

by Jet Multimedia at 80% (and at 20% by TF1).

Break even is targeted in Q1 2007.

Page 18: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

18

Operating profit by subsidiary

In euro millions

2006Sales Op.

profit

2005 Sales Op.

profit

France (ex TJM and Mediaplazza) 150.3 9.1 144.9 5.8

Spain 80.9 4.9 63.1 6.9

Italy 13.5 (0.3) 14.1 0.6

Argentina 1.1 0.0 - -

Poland (consolidated on 7 months)

7.7 1.4 - -

TJM (consolidated at 50%) 4.6 (2.0)

0.5 (0.1)

Mediaplazza (and its subsidiaries)

10.9 (1.8) 14.2 (1.1)

Maghreb 1.0 0.0 - -

Corporate - (0.9)

- (0.2)

Total Group 270.0 10.4 236.8 11.9

Page 19: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

19

Consolidated P&L

In euro millions 2006 2005 Change

Revenues 270.0 236.8 + 33.2

Revenues after revenue sharing 129.6 116.1 + 13.5

Operating result from activity 10.4 11.9 - 1.5

Operating Profit 7.2 11.2 - 4.0

Cost of financial debtOthers financial profits and charges

(1.1) 0.2

(0.3)

(0.3)

- 0.8+ 0.5

Pre-tax result 6.3 10.6 - 4.3

Taxes (2.9) (3.2) + 0.3

Net Profit 3.4 7.4 - 4.0

Page 20: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

20

Balance sheet

ASSETS In euro millions 2006 2005

Goodwill 76.6 64.2Non current assets 11.6 10.1Deferred taxes 8.9 9.6Current assets 72.3 74.7Cash as of equivalent 13.9 18.6

LIABILITIES Shareholders’ equity 99.1 93.9Debt on earnout 7.5 13.1Non current liabilities 0.6 0.5Others current liabilities 76.1 69.7

TOTAL 183.3 177.2

Page 21: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

21

Cash flow Statement

Cash at end 2005 (in euro millions) 18.6

Operating cash flow 12.5Change in WCR 9.7

Cash generated by activity 22.2

CAPEX - 5.7Dividend - 1.2Acquisition of Avantis - 8.7Earnout on Mediafusion - 11.1Others - 0.2

Cash at end 2006 13.9

Page 22: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

22

Dividend Policy

• Board of Directors will propose a dividend of 0.50€ per share to the shareholders, payable in cash or in shares.

• Neuf Cegetel has chosen to be paid in shares.

• The dividend is maintained to show the confidence of the Board and of the main shareholder in the implementation of the strategy followed by the management.

Page 23: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

23

A strong shareholder

Neuf Cegetel62%

Free float38%

Page 24: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

24

• Our activities

• 2006 results

• Strategy and forecasts Focus on profitability

2007 priorities

3 year targets

Conclusion

Page 25: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

25

The management of the group is focused on profitability

The structure of the Supervisory Board shows that the main shareholder is implicated in the strategy :

Eric Peyre, founder of Jet Multimedia President

Jacques Veyrat, CEO of Neuf Cegetel Vice President

Robert Louis-Dreyfus Vice Président

Franck Esser, CEO of SFR

Vis-a-vis Manuel Cruz, Chief Executive Officer, each Board Director will assume a specific mission :

Azim Mitha : Head of IT implementation abroad

Philippe Pelisson : In charge of the synergies with Neuf Cegetel

Laurent Radix : In charge of Purchasing

Page 26: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

26

2007 priorities

TJM / Mediaplazza : to establish a profitable leader in mobile content edition.

In France, to improve the profitability of the traditional activities.

Abroad, to develop Edition, Mobile Marketing and CRM in each country of Jet Multimedia’s network.

To extend its coverage in emerging countries especially around the Mediterranean area.

Page 27: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

27

To become a global leader in edition of mobile contents.

To benefit from the new opportunities on community services (web 2.0) and of the TV on mobile.

To leverage our leadership in the monetization and the access to contents by using Jet Multimedia’s expertise in interactivity.

To keep pace with changing environment by integrating IP into CRM solutions.

Objectives over 3 years

Page 28: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

28

Conclusion

Improve operating profitability.

Maintain a balanced mix between BtoC and BtoB activities.

Continue to grow through organic and external growth : Strengthen the group in the countries where it is already a leader, Extend its coverage in emerging countries.

Ready to make big acquisitions and to be a consolidator in the mobile services.

Target 2009 : Being 1 of the Top 5 players of a worldwide market

Page 29: 26 & 27 April 2007 Smallcap Events Paris. 2 Our activities  Our business o Two main activities o The same technology o Three markets to adress  Different

29

To be able to finance its development by itself & to accelerate it

To establish key positions for the future

17 years of sustained growth