17
RNTS MEDIA N.V. RESULTS PRESENTATION First Quarter 2017 Interim Statement

RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

  • Upload
    others

  • View
    5

  • Download
    0

Embed Size (px)

Citation preview

Page 1: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

RNTS MEDIA N.V.

RESULTS PRESENTATION

First Quarter 2017 Interim Statement

Page 2: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

“These materials may contain forward-looking statements based on current assumptions and forecasts made by RNTS Media N.V.’s management and other information currently available to RNTS Media N.V. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results, performance or events to differ materially from those expressed or implied by the forward-looking statements. Statements contained in these materials regarding past trends or events should not be taken as a representation that such trends or events will continue in the future. Neither RNTS Media N.V. nor any other party is under any duty to update or inform you of any changes, whether as a result of new information, future events or otherwise, to the information in these materials.

Certain market data and financial and other figures (including percentages) in these materials were rounded in accordance with commercial principles. Figures rounded may not in all cases add up to the stated totals or the statements made in the underlying sources. For the calculation of percentages used in the text, the actual figures, rather than the commercially rounded figures, were used. Accordingly, in some cases, the percentages provided in the text may deviate from percentages based on rounded figures. The financial information relating to the Group contained in this document has not been audited or reviewed.

No reliance may be placed for any purposes whatsoever on the information contained in this document or on its completeness. No representation or warranty, expressed or implied, is given by or on behalf of RNTS Media N.V. or any of its affiliates, directors, officers or employees, advisors or any other person as to the accuracy or completeness of the information or opinions contained in this document, and no liability whatsoever is accepted for any such information or opinions or any use which may be made of them. This document does not constitute an offer to sell, or a solicitation of an offer to buy, any securities.”

2

DISCLAIMER

Page 3: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

HIGHLIGHTS & LATEST NEWS

CEO Andreas Bodczek

Page 4: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

SUCCESSFUL START INTO THE YEAR

› Continued growth of video advertising and programmatic trading in line with expectations and seasonality

› Further expansion of global partner network on supply and demand side for all Group companies

INDUSTRY RECOGNITION

› Ranked Top 3 for the Advertising & Marketing sector in Gruenderszene 2016 growth award

INCREASED GUIDANCE & FINANCING PROGRESS

› Increased guidance for 2017: gross revenues to exceed €280m, adjusted EBITDA to exceed €3m

› Signed €7.5m credit facility for Fyber business unit 4

HIGHLIGHTS Q1 2017

Page 5: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

BONDHOLDER MEETING› All proposed resolutions approved› Including, reduction of the conversion price from

€4.20 to €3.00 per share› Reduction of the fixed interest rate payable from

5.00% to 3.00% p.a.› Waiver of the coupon payable in July 2017 › Subordination of claims to new funding being secured

EXTRAORDINARY GENERAL MEETING› All proposed resolutions approved› Including, changing the official name to Fyber N.V.› Changing the form from bearer shares to registered shares› Issuance of new shares at the expense of the reserves of the

Company to participants in the Stock Option Plan

5

SUBSEQUENT EVENTS –LATEST NEWS

Page 6: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

FINANCIALS

CFO Heiner Luntz

Page 7: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

7

24.0 25.930.5

48.8

42.5

52.4 52.3

71.0

49.7

Q1'15

Q2'15

Q3'15

Q4'15

Q1'16

Q2'16

Q3'16

Q4'16

Q1'17

Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired on 1 January 2015; 2016, 2017 based on preliminary pre-audit calculations; All numbers in €m

PRO-FORMA HEADLINE FINANCIALS

8.4 8.7 9.4

14.213.2

15.6 15.0

18.6

14.6

Q1'15

Q2'15

Q3'15

Q4'15

Q1'16

Q2'16

Q3'16

Q4'16

Q1'17

-2.1-3.6

-5.3

-1.0 -1.4 -0.9

-3.0

-0.5

-5.0Q1'15

Q2'15

Q3'15

Q4'15

Q1'16

Q2'16

Q3'16

Q4'16

Q1'17

Adj. EBITDA-257% Q1 2017 YoY

Gross Revenue+17% Q1 2017 YoY

Gross Margin EUR+11% Q1 2017 YoY

Page 8: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

Note: 2016 based on preliminary pre-audit calculations; Right-hand chart: Revenues of acquired companies shown from date of acquisitionOW = Offer wall, RV = Rewarded video, INT = Interstitial ads, Fyber RTB = Fyber RTB revenues across ad formats, INN = Inneractive revenues across ad formats

8

REVENUE DETAIL

€80m

€18m

€52m

€13m

€83m

€18m

FY 2016 Q1 2017Fyber Fyber RTB Inneractive

Gross Revenue by Segment

Gross Revenue by Ad Format

0

5

10

15

20

25

30

Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17OW RV INT Fyber RTB INN Other

Page 9: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

CASH FLOW› Two of the three business units are already cash generative:

Fyber RTB and Inneractive› Fyber (incl. Heyzap) and the RNTS Holding structure require

further funding of operating losses & working capital› Cash needed for the Convertible Bond significantly reduced:

waiver on the July coupon, reduced future coupon from 5% to 3% and improved likelihood of conversion before maturity in 2020

› Additional Earn-out cash payments for Inneractive and Heyzap now estimated at less than €20m – mostly in 2017

FINANCING› Multi component Financing structure in execution› €7.5m working capital secured from BillFront Ltd., a technology

finance provider, at Fyber level as initial step› Further steps will be announced soon

9

CASH FLOW & FINANCING

Page 10: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired on 1 January 2015; 2016 based on preliminary pre-audit calculations

10

FINANCIALS OUTLOOK

€43m

€64m

€129m

€218m

€280m

2013 2014 2015 2016 2017E

-€0.7m -€0.7m

-€12.1m

-€5.8m

€3.0m

2013 2014 2015 2016 2017E

+

+ 30 % IN GROSS REVENUES FOR 2017E

+

POSITIVE ADJ. EBITDA FOR FULL YEAR 2017E

Page 11: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

OUTLOOK

COO Ziv Elul

Page 12: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

THE CONCEPTUAL ROAD TO INTEGRATION

One Vision

One Management

One Brand

One Corporate Structure

One Product Offering

Phase 1 Phase 2 Phase 3

12

Page 13: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

PRODUCT FOCUSBY OFFERING A UNIQUE CROSS-SCREEN PROGRAMMATIC VIDEO SOLUTION FOR PUBLISHERS, RNTS MEDIA IS WELL POSITIONED TO BECOME A GLOBAL, NEUTRAL PUBLISHER-SIDE POWERHOUSE

VIDEO ACROSS

SCREENS

ADVANCED PROGRAMMATIC

PLATFORM

DATA-DRIVEN AUDIENCE

SEGMENTATION

13

Page 14: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

RNTS has experienced a 200% growth in programmatic, driven by RTB

54%76% 82%

46%24% 18%

2015 2016 2017YTD

RTB Non-RTB

RNTS RTB vs. Non-RTB revenues

14

SHORT TERM GROWTH DRIVER 1:REAL-TIME BIDDING

› Strong growth of programmatic revenues, with Fyber RTB +362% in 2016 YoY and Inneractive +114% in 2016 YoY

› Within programmatic, real-time bidding taking share rapidly and driving growth

› Share of RTB grew from 54% in 2015 to 76% in 2016

Page 15: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

We aspire to have 75% of revenue from video by 2018

24%43%

65%75%

76%57%

35%25%

2015 2016 2017E 2018E

Video Display

RNTS Video vs. Display revenues

15

SHORT TERM GROWTH DRIVER 2:VIDEO ADVERTISING

› Video revenues in 2016 increased by more than 170% over 2015

› Share of video grew from 24% in 2015 to 43% on average in 2016

Page 16: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

COMSCORE500PUBLISHERS

NEW CUSTOMERS

NEW GEOS

APAC

AREAS FOR LONGER TERM GROWTH

16

Page 17: RNTS Media Q1 2017 Results Presentation FINAL...Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Note: Pro-forma numbers as if Heyzap and Inneractive had been acquired

THANK YOU