I nve sto r pre se nta tio n Q2 2018
Aug ust 2018
I nve sto r pre se nta tio n Q2 2018 Aug ust 2018 K e y hig - - PowerPoint PPT Presentation
I nve sto r pre se nta tio n Q2 2018 Aug ust 2018 K e y hig hlig hts Q2 So lid mo me ntum with po sitive de ve lo pme nt in ke y pe rfo rma nc e indic a to rs Gro wth suppo rte d b y c urre nc y (~4%-po ints) in b o th Q2 a nd YT D a
Aug ust 2018
D a nd drive n b y Bo o zt.c o m (+43%) a nd Bo o ztle t.c o m (+90%)
BI T ma rg in impro ve me nt drive n b y c o st ra tio s, while g ro ss ma rg in wa s hit b y hig h pro mo tio na l a c tivity due to the unususa l lo ng a nd wa rm summe r
c o ntinue d mo me ntum in K PI ’ s
BI T ma rg in g uida nc e ma inta ine d
Ne t r e ve nue gr
Q2: 44% (39% ) YT D: 38% (49% ) Adjuste d E BIT mar gin Q2: 4.9% (2.2% ) YT D: 2.4% (0.9% )
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9.1 9.2
Q2 2017 Q2 2018
66 71
Q2 2017 Q2 2018
Custome r satisfac tion
T rustpilo t a nd NPS sc o re
Boozt.c om
T r ustpilot NPS
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de r s
(000)
Boozt.c om
641 869
Q2 2017 Q2 2018
+36%
Ave r age or de r value
765 801
Q2 2017 Q2 2018 SE K
+5%
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1,151 1,507
YT D 2017 YT D 2018
+31% 775 810
YT D 2017 YT D 2018
+5%
916 1,185
Q2 2017 Q2 2018
6.1 7.2
Q2 2017 Q2 2018
Ac tive c ustome r s
Custo me rs who ma de a t le a st o ne o rde r during L T M (000)
Boozt.c om
+29%
de r s pe r ac tive c ustome r
AOV SE K
2.3 2.4
Q2 2017 Q2 2018
T r ue fr e que nc y
Orde r fre q ue nc y fro m c usto me rs b uying in Q2 2017 (Q2 2016) a nd the fo llo wing 12 mo nths
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Inc re a sing sha re of wa lle t with strong e r c omple me nta ry c a te g orie s
Pr
2/ 3 ar e mixe d baske ts Skin te st and othe r inspir ational ac tivitie s be ing adde d Ve r y str
and por tfolio with the addition of MAC, Kie hl’s and Ur ban De c ay
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Be auty Spor ts/ Athle isur e Kids
Re - launc hing as a mor e de dic ate d spor ts/ athle isur e site L aunc h of adidas and Re e bok Gaining ac c e ss to fashion e nd of e xisting spor ts br ands Site will be se par ate d into te e ns and kids Inc r e ase d mar ke ting foc us Polar n O. Pyr e t launc he d
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Gr
SE K millio n
Ne t r e ve nue
SE K millio n 917.3
1,266.6
YT D 2017 YT D 2018
Adjuste d E BIT
SE K millio n 220.1 300.4
Q2 2017 Q2 2018
Ma r g in 42.0% Ma r g in 44.4%
10.9 35.0
Q2 2017 Q2 2018
Ma rg in 4.9% Ma rg in 2.2% +38%
Group
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496.1 714.7
Q2 2017 Q2 2018
+44% 407.2 516.4
YT D 2017 YT D 2018
Ma r g in 40.8% Ma r g in 44.4%
8.3 30.8
YT D 2017 YT D 2018
Ma rg in 2.4% Ma rg in 0.9%
Boozle t.c om
SE K millio n
Boozt.c om
SE K millio n 879.2
1,215.3
YT D 2017 YT D 2018
Othe r
SE K millio n 11.9 22.7
Q2 2017 Q2 2018
2.3 3.7
Q2 2017 Q2 2018
+38%
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481.9 688.3
Q2 2017 Q2 2018
+43% 22.8 45.0
YT D 2017 YT D 2018
15.2 6.3
YT D 2017 YT D 2018
+97% +90%
Boozle t.c om
SE K millio n
Boozt.c om
SE K millio n 6.1 31.1
YT D 2017 YT D 2018
Othe r
SE K millio n 0.4 2.4
Q2 2017 Q2 2018
Q2 2017 Q2 2018
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12.0 37.4
Q2 2017 Q2 2018
1.7 6.4
YT D 2017 YT D 2018
+7.5% +3.7% +2.6% +0.7% +5.4% +2.5% +14.1% +10.7% 0.6
YT D 2017 YT D 2018
Gro ss ma rg in Ma rke ting c o st ra tio De pre c ia tio n c o st ra tio Adjuste d fulfilme nt c o st ra tio Adjuste d a dmin & o the r c o st ra tio * Adjuste d E BIT ma rg in
Shar e of ne t r e ve nue , %
*whe re o f c o st o f pe rso nne l
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44.4 (12.0) (1.8) 2.2 (15.2) (13.3) Q2 2017 Cha ng e
(2.3 pp) 1.8 pp 0.6 pp 2.4 pp 0.1 pp 2.7 pp
42.0 4.9 (13.4) (12.7) (9.5) (1.6) Q2 2018 (6.6)
0.7 pp
(5.9) 44.4 (12.5) (1.3) 0.9 (15.6) (14.1) YT D 2017 Cha ng e
(3.6 pp) 2.1 pp 1.0 pp 2.5 pp (0.5 pp) 1.5 pp
40.8 2.4 (13.4) (13.1) (10.0) (1.8) YT D 2018 (6.7)
0.7 pp
(6.0)
113.6 10.5 2.5 6.7
Q2 2017 Q2 2018
F ixe d a sse ts I nta ng ib le s
17.4 133.9
Q2 2017 Q2 2018
85.9 126.4
Q2 2017 Q2 2018 SE K millio n (in % o f L T M re ve nue ) SE K millio n
Ne t wor king c apital CAPE X Ope r ational c ash flow
5.1% * 5.3%
SE K millio n
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126.2
YT D 2017 YT D 2018
116.5 11.8 4.8 12.6
YT D 2017 YT D 2018
* ne t wo rking c a p ita l a s a p e rc e nt o f ne t re ve nue wa s a ffe c te d b y e mp lo ye e s’ withho ld ing ta x fro m the 2012 wa rra nt p ro g ra m. Ad juste d fo r this the ne t wo rking c a p ita l p e rc e nta g e a t e nd o f Q2 2017 wo uld ha ve b e e n a p p ro xima te ly 7%
25- 30%
me dium te rm
me dium te rm
F
(pre vio us a b o ve 33%). T he a djuste d E BI T ma rg in is e xpe c te d to impro ve slig htly c o mpa re d to 2017.
ra ng e o f 25- 30% in the me dium te rm
BI T ma rg in
e xc e e ding 6% in the me dium te rm
BI T ma rg in a nnua lly a s the c o st b a se is furthe r le ve ra g e d b y ne t re ve nue g ro wth
Ne t re ve nue g rowth Adjuste d E BIT ma rg in
Me dium te rm (3-5 ye a rs po st I PO) ta rg e ts re ma in unc ha ng e d
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T he Co mpany’ s financ ial ta rg e ts se t fo rth abo ve c o nstitute fo rwa rd-lo o king info rma tio n tha t is sub je c t to c o nside ra ble unc e rta inty. T he financ ial ta rg e ts a re b a se d upo n a numb e r o f a ssumptio ns re la ting to , amo ng o the rs, the de ve lo pme nt o f the Co mpany’ s industry, b usine ss, re sults o f o pe ra tio ns and financ ial c o nditio n. Co mpany’ s busine ss, re sults o f o pe ratio ns and financ ial c o nditio n, and the de ve lo pme nt o f the industry a nd the mac ro e c o no mic e nviro nme nt in whic h the Co mpany o pe ra te s, ma y diffe r ma te rially fro m, and b e mo re ne g ative than, tho se a ssume d b y the Co mpany’ s whe n pre pa ring the financ ial ta rg e ts se t o ut a bo ve . As a re sult, the Co mpany’ s ab ility to re ac h the se financ ial ta rg e ts is sub je c t to unc e rta intie s and c o nting e nc ie s, so me o f whic h a re b e yo nd its c o ntro l, and no a ssuranc e c an b e g ive n that the Co mpany will b e able to re ac h the se ta rg e ts o r tha t the Co mpany’ s fina nc ial c o nditio n o r re sults o f o pe ra tio ns will no t b e ma te ria lly diffe re nt fro m the se fina nc ial ta rg e ts.
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APPE NDI X
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APPE NDI X
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APPE NDI X
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APPE NDI X
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APPE NDI X
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Je spe r Brø nd um
CT O
Alla n Jung e -Je nse n
CF O
He rma nn Ha ra ld sso n
CE O
Nie ls He mming se n
COO
Pe te r G. Jø rg e nse n
CMO
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BUIL DING NOR DIC SCAL E
wa lle t a nd numb e r o f re turning c usto me rs
2015 - 2016
ONL INE L E ADE R SHIP
No rdic o nline ma rke t le a de rship
e ve ra g e the te c hno lo g y pla tfo rm
infra struc ture
po rtfo lio ma nag e me nt
2017 -
De c 2017
(tra nsa c tio na l ne t re ve nue )
2011 - 2013
L AUNCH OF BOOZT .COM
la unc he d a nd multi- b ra nd sho p o pe ne d
b ra nds
inte g ra te d te c h pla tfo rm
De nma rk
Aug 2011
SE K 0.7m
(tra nsa c tio na l ne t re ve nue )
E XPANSION
b ra nds
e xpa nsio n
De nma rk, Swe de n a nd F inland
2014 - 2015
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One de stination for fashion
Cura te d, c onte mpora ry a nd re le va nt se le c tion
Car e fully se le c te d br ands with Nor dic appe al Attr ac tive c ustome r c har ac te r istic s F
ge t gr
e c onve nie nc e is ke y
Dive rsifie d c ustome r ba se with a ttra c tive fe a ture s
~70% ~85% ~55%
Wo me n L ive to g e the r Ha ve kids Custome r s age d 25- 54 r e pr e se nt >75% of ne t r e ve nue
We ll positione d to c a pture la rg e r sha re of the Nordic online a ppa re l ma rke t
E ntr y br a nds Pr e mium br a nds Comme r c ia l
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Produc t se g me nt foc us
Pre mium Co mme rc ia l E ntry pric e Ca tc h-a ll Cura te d
Bra nd stra te g y
Distinc t position ba se d on a c ur a te d Nor dic se le c tion… Illustr a tive Nor dic ma r ke t la ndsc a pe Boozt’s positioning de live r s a hig h AOV AOV e xc l. VAT in SE K (2017) Se le c tive ly a c tive in the No rdic re g io n
801 478 462 426 *Ca lc ula te d a s ne t re ve nue d ivid e d b y numb e r o f o rd e rs, numb e r o f o rd e rs a re ro und e d (sinc e re p o rte d in millio ns). Za la nd o , 2017 full ye a r, c o nve rte d to SE K with a n e xc ha ng e ra te o f 1 E UR = 9.6326 SE K , Ne lly 2017 full ye a r, Aso s full ye a r 2016/ 2017 (F Y e nd e d Aug 2017), c o nve rte d to SE K with a n e xc ha ng e ra te o f 1 GBP =10.9896
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*
T he r e la tive hig h AOV le a ve s r
hig h ma r ke ting … Cost split pe r
de r If low AOV… g r
g in would ha ve to be hig he r Challe nging to dr ive gr
GM… .
787
451 114 102 89 12 19
531
304 114 69 60 8
57.3% 14.5% 13.0% 11.3% 1.5% 2.4%
Go o ds fo r re sa le F ulfilme nt & dist. Ma rke ting Ad min & sta ff o pe x De pre c ia tio n E BIT Go o ds fo r re sa le F ulfilme nt & dist. Ma rke ting Ad min & sta ff o pe x De pre c ia tio n E BIT
57.3% 21.5% 13.0% 11.3% 1.5%
6.0% 2.4% 50.3%?
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T he r e la tive hig h AOV le a ve s r
hig h ma r ke ting … Cost split pe r
de r Sc a le will dr ive pr
g r
g in Re gional foc us will dr ive mar ke ting down… .
787
451 114 102 89 12 19
787
57.3% 14.5% 13.0% 11.3% 1.5% 2.4% Go o ds fo r re sa le F ulfilme nt & dist. Ma rke ting Admin & sta ff o pe x De pre c ia tio n E BI T Go o ds fo r re sa le F ulfilme nt & dist. Ma rke ting Admin & sta ff o pe x De pre c ia tio n E BI T Ab o ve 6%
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c ura te d se le c tio n
”po we r to the pe o ple ”
fo rc ing
HE(rig ht) pric e
a sy a c c e ss c usto me r c a re
a st fre e d e live rie s
a st fre e re turns
E ASE SPE E D PRICE RE L E VANCE
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Pur pose - built infr astr uc tur e e nable s full c ontr
the c ustome r jour ne y
Ads T V E mails
Ma rke ting
Affiliate So c . me dia F ilte r + se arc h Sale s advic e F raud c he c k Payme nt validatio n Disc o unts
Sa le s
Re turn + re fund Ope n pac kag e Re vie w Rating Pic kup + de live ry
F ulfilme nt Custome r se rvic e
Chat E xc hang e Pho ne E mails So c . me dia
T he sola r syste m T he ha lo
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So c ia l da ta Distrib utio n da ta
Boozt solar syste m
Pa yme nt da ta Ma rke t da ta
Data lake Data quantific ation
Da ta a na lysis Da ta mode l
se g me nta tio n
c la ssific a tio n
purc ha se
pro d uc t re c o mme nd a tio n
c a te g o risa tio n 30
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1) E stima te d c a pa c ity b a se d o n 43,500 m 2 in to ta l a re a is ~500,000 b ins a nd ~500 pic king ro b o ts. 2) Assuming a c o nsta nt AOV. So urc e : Co mpa ny da ta .
450,000+ SK
U lo c a tio ns Ca pa c ity o f
3,000,000+
ite ms
Base d on AutoStor e solution 4 da ys fro m
pro duc t a rriva l to in we b sto re Re turns b e ing re funde d within
24 hour s >2,500
ho ur in ha ndling c a pa c ity T he ne w wa re house in ope ra tiona l sinc e the e nd of Ma rc h 2017 Ne xt da y de live ry to se ve ra l Nordic a re a s
Custom- built to de live r c onve nie nc e and de signe d for 3- 4x 2017 ne t r e ve nue 2)
id”
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1- 2 da ys Ne xt da y Sa me da y Ne xt day Same day 1- 2 days
Se r ving 90% of the Nor dic r e gion with 100%
tme nt within same or ne xt day
Q2 2018 De live r y r e a c h Cur r e nt sha r e of
de r s
99%
Popula tion
(millio n)
18.8
25.0 0%
80%
95%
30% 90%
3.5 100% 100% 100%
Ra ng e
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Automation Phase 1
2017
Building o f ne w wa re ho use ne xt to c urre nt sta rts in 2020
2 billion
We ar e he r e !
Automation Phase 2
2017/ 2018
Ne gotiations r e gar ding phase 3&4 c omme nc e Automation Phase 3
2019/ 2020
Automation Phase 4
2020/ 2021
4-6 billion 6-8 billion 3-4 billion
Re ve nue c a pa c ity
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NE W
Cohor ts a r e str
s e xpa nd the ir tr a nsa c tions with us
Ne t re ve nue
E xpe c te d “as is” 2018 r e ve nue fr
t = 100%
500 1,000 1,500 2,000 2014 2015 2016 2017
L
Co nve rting to lo ya l Ne w c usto me r
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Co ntrib utio n ma rg in de ve lo pme nt
F irst ye a r Ye a r + 1 Ye a r + 2 Ye a r + 3 Ye a r + 4 Ye a r + 5
Initial ne gative c ontr ibution fr
c ustome r s…
Ac c umula te d CL V fo r Bo o zt.c o m
F irst ye a r Ye a r + 1 Ye a r + 2 Ye a r + 3 Ye a r + 4 Ye a r + 5
Custo me r life time va lue (CL V)
… followe d by ste e p ac c umulation in live time value
CL V is de fine d a s g ro ss pro fit le ss fulfillme nt & distrib utio n a nd ma rke ting c o sts a ttrib uta b le to a pa rtic ula r c usto me r c o ho rt.
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No te : Ap p a re l re ta il ma rke t is d e fine d a s the a g g re g a tio n o f the c lo thing a nd fo o twe a r ma rke t (inc luding sp o rts). T he ma rke t d a ta c o ve rs re ta il sa le s o f a p p are l thro ug h b o th sto re -b a se d re ta ile rs a nd no n-sto re re ta ile rs. It e xc lud e s b la c k ma rke t sa le s (i.e . unta xe d , g e ne ra te d within info rma l re ta iling ) a nd d uty fre e sa le s (tra ve l re ta il). Ite ms must b e ne w whe n so ld to the c o nsume r; se c o nd -hand/ use d ite ms a re e xc lud e d . Antiq ue a nd / o r vinta g e c lo thing a nd fo o twe a r is a lso e xc lud e d . All d a ta fro m Euro mo nito r Inte rnatio nal use d in this se c tio n is b a se d o n re ta il sa le s p ric e s (inc luding VAT ), e xp re sse d in no minal te rms a nd a ssume s fixe d c urre nc y ra te s a g a inst SEK
), 1.27 (DK K ), 10.98 (GPB) a nd 8.88 (USD). So urc e : Euro mo nito r Inte rnatio nal Be a uty a nd Pe rso na l Ca re 2017 e d itio n, Co nsume r Ele c tro nic s 2017 e d itio n, Co nsume r Ap p lia nc e s 2017 e d itio n, Co nsume r He a lth 2017 e d itio n, Ap p a re l a nd F
Ele c tro nic s a nd Co nsume r Ap p lia nc e s in F inland , the re fo re to e stima te the to ta l No rd ic ma rke t, ma na g e me nt e stima te s fo r F inla nd use d a s fo llo ws: Ap p a re l: SEK 35 b illio n; Co nsume r e le c tro nic s: SEK 35 b illio n a nd ; Co nsume r a p p lianc e s: SEK 6 b illio n.
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44 6 11 4
223
100 56 44 34 Appa re l Co nsume r E le c tro nic s Be a uty a nd Pe rso na l Ca re Co nsume r Applia nc e s Co nsume r He a lth
Nor dic ma r ke t size
(SE K b n)
9,700 9,200 8,600 5,300 US No rdic s UK E uro pe
T
e l spe nding pe r c a pita
(2016 in SE K , ro unde d to the ne a re st hundre d)
Appa r e l is one of the la r g e st c onsume r c a te gor ie s… … dr ive n by hig h spe nd pe r c a pita
Online T
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T
ke t
SE K 279bn
SE K ~125bn
SE K ~84bn
So urc e : Co mpa ny da ta a nd E uro mo nito r.
No rdic a ppa re l & b e a uty ma rke t (2017)
Pe ne tra tio n AND c o nso lida tio n
Online pe ne tr ation le ve ls at var ious stage s hint to the mar ke t pote ntial
SE K ~45bn
T ODAY
@ 16% o nline pe ne tra tio n @ 30% o nline pe ne tra tio n
2027?
@ 45% o nline pe ne tra tio n
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