Company Presentation September 2019 0
Disclaimer The following presentation has been prepared by 58.com Inc. (the “Company”) solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any investment activity or trading strategy, nor may it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. NOTHING HEREIN CONSTITUTES AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES OR INSTRUMENT IN ANY STATE OR JURISDICTION. The information included herein was obtained from various sources, including certain third parties, and has not been independently verified. The information presented or contained in these materials is subject to change without notice. No representation or warranty, express or implied, is made and no reliance should be placed on the truth, accuracy, fairness, completeness or reasonableness of the information or sources presented or contained in these materials. By viewing or accessing these materials, the recipient hereby acknowledges and agrees that neither the Company nor any of its directors, officers, employees, affiliates, agents, advisers or representatives accepts any responsibility for or makes any representation or warranty, express or implied, with respect to the truth, accuracy, fairness, completeness or reasonableness of the information contained in, and omissions from, these materials and that neither the Company nor any of its directors, officers, employees, affiliates, agents advisers or representatives accepts any liability whatsoever for any loss howsoever arising from any information presented or contained in these materials. These materials contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers about the future, which can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those in the forward-looking statements as a result of various factors and assumptions, many of which are beyond the Company’s control. Neither the Company nor any of its directors, officers, employees, affiliates, agents, advisors or representatives has any obligation to, nor do any of them undertake to, revise or update the forward-looking statements contained in this presentation to reflect future events or circumstances. This document also contains non-GAAP financial measures, the presentation of which is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America. In addition, the Company’s calculation of these non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited. The reconciliation of those measures to the most comparable GAAP measures is contained within this document or the earnings press release. This document speaks as of June 30 th , 2019, unless otherwise indicated. Neither the delivery of this document nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since that 1 date.
Content 1 2 3 4 5 Business Market Sectors Financials Appendix Opportunity 2 Making life simple
Classifieds: a globally proven model (1) Axel Company Ebay Naspers Adevinta Scout24 Schibsted Recruit Zillow Springer Ticker SPR.DE EBAY NPN.JO ADEB.OL G24.DE SCHA.OL 6098.T Z 3,081 (HR Technology) Classifieds Revenues 1,347 1,022 875 661 591 315 1,281 6,799(Media & (USD in MM) Solutions) Classifieds 15% 45%-55% (2) 46% (3) 45% (4) EBITDA/Adj. 40% 25% 55% 19% 24% EBITDA% Market Cap 7,543 33,080 94,938 7,714 6,177 6,310 53,249 7,110 (USD in MM) mainly # of Countries ~20 >10 38 16 18 3 60 (HR Tech) US Stepstone Gumtree OLX Leboncoin IS24 Finn Indeed Zillow Seloger Kijiji Avito Shpock AS24 Blocket Rikunabi Trulia Key Brands Immowelt Mobile.de Letgo Infojobs Suumo Wallapop (1) Financial numbers represent fiscal year 2018 ending at December 31 st , 2018, except Naspers fiscal year 2019 ending at March 31 st ,2019 and Recruit fiscal year 2018 ending at March 31 st ,2019. Financials are converted to USD from non USD reporting currencies using middle rates announced by the State Administration of Foreign Exchange of the PRC on August 16 th ,2019. Market capitalization data as per Yahoo Finance as of 08/16/2019. Foreign currencies converted using middle rates announced by the State Administration of Foreign Exchange of the PRC on August 16 th ,2019. Non financial information from company filings and IR presentations (2) Data source: Elliott letter from enhancingebay.com (3) Naspers classified EBIDTA % 46% is delivered by monetization countries, excluding Letgo, data source: Naspers IR presentation (4) Represent Schibsted Nordic Marketplace, data source: Schibsted IR presentation 3 Making life simple
58: The largest classifieds in China Horizontal Classifieds Verticals ( consolidate ) Verticals ( deconsolidated ) (1) Anjuke Zhuan Zhuan 58 Home 58 Freight (Housing) (Used Goods) 58 Town Guazi Mao Dou ChinaHR Driving Training (C2C Used Car) (New Car) (White Collar Jobs) Ganji 1.9 billion USD 23% ~85% >500 million Mobile PV (4) 2018 Revenues (2) 2018 Non-GAAP Op Margin (3) App annual unique users (5) (1) We hold 68.8% of equity interests in 58 Home on an as-converted basis and 58 Home holds 57.1% in 58 Freight Inc. as of December 31 st , 2018. We also hold approximately 19.1% equity interests in Che Hao Duo, which contains Guazi and Mao Dou as of December 31 st , 2018. (2) RMB6.8632 to US$1.00, which was the U.S. dollars middle rate announced by the State Administration of Foreign Exchange of the People's Republic of China (PRC) on December 28 th , 2018 (3) Non-GAAP operating margin is defined as Non-GAAP income/(loss) from operations divided by revenues. Non-GAAP Operating income(loss) is defined as income(loss) from operations excluding share- based compensation expenses and amortization of intangible assets resulting from business acquisitions. See “Non -GAAP fina ncial measures” at the end of this presentation. (4) Average monthly page views on mobile applications and mobile browser-based pages as a percentage of total monthly page views in 2018. Page views refer to those of listing and landing pages. (5) The number of annual unique users is defined as the number of accesses by unique mobile device IDs to our mobile apps in 2018, which is calculated as the aggregate of the number of unique mobile device IDs that accessed each of our mobile apps in that period. 4 Making life simple
Classifieds: A one stop shop for local services Mobile Jobs Real Estate Major Content Categories: • Jobs • Real Estate • Used goods • Yellow pages and local services • Automotive Yellow pages Automotive • 58 blog 5
Monetization mainly from business users Yellow pages & local services example: 3 More intelligent, relevant, personalized OMS powered by Big Data/AI Premium Home Services( “ 到家 精选 ”) Online Marketing Services (CPC, 2 CPM, CPT) • Real-time bidding Real-time Bidding • Priority listing 1 Membership (Business users) Priority • Validation/certification Listings • Online storefront • Listing benefits (above free listings, etc.) Members’ Listings • Dedicated customer service • Account management system/big data support Free Listings 6
Strong growth in past 5 years 2013 2015 2017 2019 Core Classifieds: Core Classifieds: Core Classifieds: • 13pts YoY OM% improvement (1) • User experience: content, connection, big data, SAAS, quality Ganji Anjuke • Lower tier • Acquired Ganji & Anjuke • Operational efficiency New Business: New Business: New Business: • Zhuan Zhuan: US$300mm Financing & ramp up monetization • 58 Town: App traffic Zhuan Zhuan 58 Town 58 Home Guazi • Deconsolidated 58 Home (2) • Zhuan Zhuan raised US$200mm • Che Hao Duo(Guazi): Financing & 58 and Che Hao Duo(Guazi) from Tencent US$713.6mm partial exit, US$90mm IPO • 58 Home raised US$300mm • 58 Town launch received • Che Hao Duo(Guazi): Financing • 58 Daojia (2) : Financing (BABA, etc.) Founded in 2005 2014 2016 2018 Core Classifieds: Core Classifieds: Strategic Investment • Ganji and Anjuke integration • 6pts YoY OM% improvement (1) • 37pts YoY OM% improvement (1) New Business: New Business: • Zhuan Zhuan: Branding (deconsolidated) • 58 Town expansion • Continued growth and • 58 Freight (2) : Financing sustained leadership • Che Hao Duo(Guazi): Financing • Che Hao Duo(Guazi): Financing (1) Non-GAAP operating margin, See “Non - GAAP financial measures” at the end of this presentation . (2) 58 Home contains two subsidiaries, 58 Freight which focuses on cargo and freight logistics and delivery services, 58 Daojia which focuses on home services; 58 Home holds 57.1% in 58 Freight and 91.5% in 58 Daojia as of June 30 th , 2019 7
Recommend
More recommend
