F-Secure Corporation Annual General Meeting March 30, 2011 Kimmo - - PowerPoint PPT Presentation

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F-Secure Corporation Annual General Meeting March 30, 2011 Kimmo - - PowerPoint PPT Presentation

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F-Secure Corporation Annual General Meeting March 30, 2011 Kimmo Alkio, President and CEO Protecting the irreplaceable | f-secure.com F-Secure today Global presence Subsidiaries in 16 countries More than 200 operator partners in

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Protecting the irreplaceable | f-secure.com

F-Secure Corporation Annual General Meeting

March 30, 2011 Kimmo Alkio, President and CEO

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F-Secure today

Global presence

  • Subsidiaries in 16 countries
  • More than 200 operator partners in over 40 countries
  • Strong presence in Europe, Asia and North America

Key figures in 2010

  • Revenue EUR 130.1 million
  • Operating profit EUR 19.8 million
  • Earnings per share EUR 0.10

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2011: Leader in providing value added services to consumers through operators We enable millions of people to safely enjoy the exciting opportunities

  • f their connected lives

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F-Secure produces internet security services for consumers and businesses against computer viruses and other threats coming through the Internet or mobile networks, as well as online backup services preventing loss of valuable content and enabling sharing of important files.

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F-Secure key consumer products

Better way for online backup Full PC protection

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Contents

  • 1. Market review
  • 2. Financial performance in 2010
  • 3. Long term objectives
  • 4. F-Secure share price performance

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Internet expansion, new devices and increasing use of social media strengthen the demand for value added services

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The number of Internet users increasing

  • more potential customers

Internet in 2015:

  • >500m new users
  • >2.5B users altogether
  • Mobile Internet >

traditional broadband

Source: *eTForecasts, **Morgan Stanley Research, 2010

500 1000 1500 2000 2500 3000 1985 1990 1995 2000 2005 2010 2015 Milllion Internet users*

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Source: ITU, Mark Lipacis, Morgan Stanley Research.

The number of new devices increasing

  • more devices to offer services

Elektronics in cars (GPS, ABS, A/V) Video in mobile devices Home entertainment Games MP3 Wiresless home devices Mobile phone / PDA Smartphones Electric books Tablets 1990 2000 2010 2020 100mi 10b+ 1b+

Mobile phone Mobile devices PC

Number

  • f devices

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Social media increase the use of Internet

  • protecting identity more and more important

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Security needed in Internet

Source: F-Secure

,0 2000,000 4000,000 6000,000 8000,000 10000,000 12000,000 14000,000 16000,000 18000,000 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Estimate of increasing malware

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Market trends – summary

Internet

  • Internet growth continues globally
  • Mobile internet driving growth
  • Role of internet security significant for

business over the Internet

New devices

  • Smartphones and tablets growing in number
  • New devices connected to the Internet

are coming to the markets

  • Need for new services; storage of information
  • Services in social media increasing
  • Operators seeking to be part of this

development

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Social media

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Contents

  • 1. Market review
  • 2. Financial performance in 2010
  • 3. Long term objectives
  • 4. F-Secure share price performance

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Summary for 2010

  • Profitable growth continued;

growth driven by the operator business

  • Operator partner network stronger than

ever before

  • over 200 operator partners; behind these

partnerships more than 100 million broadband customers

  • Investments in new value added services such

as storage and online backup services continued; success in commercial negotiations; partnership signed with AT & T (U.S.) and Telefonica (Latin America)

  • F-Secure Internet Security 2011 won

”The Product of the Year” award by AV- Comparatives; excellent procuct competitivity

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Financial performance for 2010

Profitable growth

  • 2010: revenue

EUR 130 million; growth of 4% Software as a Service

  • Revenue by operator business
  • ver 50% of the total revenues;

growth of 12% Financial efficiency

  • EBIT EUR 20 million; 15% of

revenues

  • Earnings per share

EUR 0.10

14 % 12% 11% 20% 22% 19% 15%

20 40 60 80 100 120 140

2004 2005 2006 2007 2008 2009 2010

Revenues Operating profit Operating profit margin,%

M€

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Strong financial position

  • Operating cash flow at a good level;

+23m

  • Strong financial position; 33m

(at year-end)

  • Cash position has developed

according to the longer term efficient capital management objectives

  • Capital repayment (2008)
  • Share repurchases (2009-2010)
  • Dividends (2007-2010)
  • Acquisition (2009)
  • Company’s dividend policy is to

distribute approximately half of the annual profits as dividend

20 40 60 80 100 120 2006 2007 2008 2009 2010

Cash position Dividend/capital repayment

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Operaator partnerships:

  • Software as a Service driving growth

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2 4 6 8 10 12 14 16 18 20

Operaator business – strong growth driver for over 10 years

  • Accounts for over 50% of total revenues
  • Over 200 operator partnerships in more

than 40 countries; behind thses operator partners more than 100 million broadband customers

  • Strong presence in Europe, Asia and

Americas

  • Significant progress in Americas:
  • AT&T, Frontier (USA)
  • Telefonica (LatAm)

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More than 200 operator partners globally

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Company performance in 2010 - summary

Growth and profitability

  • Record high revenues; 130m, +4%
  • Profitability at a healthy level; 20m, 15%
  • Strong cash flow

Products and services

  • Highly competitive internet security services
  • Expansion and investments in storage business
  • New devices an opportunity
  • Excellent position globally – continued to strengthen
  • Combination of internet security and online backup services
  • New growth opportunities through new partnerships

Operator business a growth driver

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Contents

  • 1. Market review
  • 2. Financial performance in 2010
  • 3. Long term objectives
  • 4. F-Secure share price performance

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Long-term objectives

Growth

  • Continue to exceed average market growth
  • Geographic expansion
  • New large operator partnerships

Software as a Service

  • Highly competitive internet security
  • Combined internet security and online backup services aiming for higher

number of subscribers

  • Room for innovation – benefiting from Internet growth
  • Continuous development of scalable business models
  • Investments in strategic growth businesses, especially in the operator channel

Financial efficiency

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Contents

  • 1. Market review
  • 2. Financial performance in 2010
  • 3. Long term objectives
  • 4. F-Secure share price performance

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Share price performance and trading volume

March 20, 2008 - 2011

F-Secure OMX Helsinki

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Thank you!

investor-relations@f-secure.com

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