Investor presentation April 2018
Disclaimer Sources of information be made by any member of 333 Capital or buyMyplace that any Forward Statements will be achieved or will prove to be correct. Actual future results and This document has been prepared by 333 Capital Pty Ltd (‘333 Capital’) on behalf operations could vary materially from the Forward Statements. Similarly, no of buyMyplace.com.au Limited (‘buyMyplace’) and its subsidiaries. The statements representation or warranty is made that the assumptions on which the Forward and opinions contained in this report are given in good faith. Statements are based may be reasonable. No audit, review or verification has In the preparation of this document, 333 Capital has relied upon and assumed, been undertaken by 333 Capital, buyMyplace or an independent third party of the without independent verification, the accuracy and completeness of all such assumptions, data, results, calculations and forecasts presented or referred to in information, statements and opinions. this document. Each recipient acknowledges that circumstances may change and the contents of this document may become outdated as a result, and no member Scope and limitations of 333 Capital or buyMyplace has any obligation to update this document or This document is provided for the purpose of providing general information about correct any inaccuracies or omissions in this document. the companies herein. The recipient acknowledges that neither it nor 333 Capital intends that 333 Capital act or be responsible as a fiduciary to the recipient, its management, stockholders, The purpose of this document is for general information only. It does not purport to creditors or any other person. Each of the recipient and 333 Capital, by accepting contain all of the information that the recipient may require to evaluate the and providing this document respectively, expressly disclaims any fiduciary business of buyMyplace and does not take into account the investment objectives, relationship. financial situation or particular needs of the recipient. The recipient should not rely on this document to make any investment decision. Further, this document does not in any way constitute an offer, invitation or recommendation to subscribe for, purchase, invest in or refrain from investing in, any security or financial product. Except as required by law, 333 Capital, buyMyplace and their related bodies corporate, other affiliates and their respective directors, officers, employees, agents and consultants do not make any representation or warranty, whether express or implied, as to the accuracy or completeness of the contents of this document, nor do they take any responsibility for any loss or damage suffered as a result of any omission, inadequacy, or inaccuracy therein. Recipients should not treat this document as advice relating to legal, taxation or investment matters and are advised to consult their own professional advisors as they consider appropriate. This document may contain certain forward-looking statements, forecasts, projections and opinions (Forward Statements). No representation is made or will Page 2
Today’s Presenters • Master of the Stockbrokers and Financial Advisers Association of Australia, Graduate member of the Institute of Company Directors and Senior Fellow of the Financial Services Institute of Australasia. • Over 30 years’ experience in the financial services industry across investment and capital markets, including analysis and evaluation of investment opportunities, transaction analysis, financial modelling, debt structuring, asset and equity valuation and due diligence. Matthew Driscoll • Matt has worked with numerous companies nurturing them from small enterprises to successful listed Chairman businesses. • More than 20 years’ CEO and senior leadership experience in building partnerships, sales, IT products and services, operations, payments, travel and financial services as well as wealth management. • Colin previously held Managing Director and senior management roles in Australia, Hong Kong and the United Kingdom, with organisations such as American Express and Hogg Robinson Group and has included a focus on operations, business development, partnerships, acquisitions, technology, sales and Colin Keating transformational growth. CEO Page 3
01 Executive summary
Introduction buyMyplace has grown substantially since listing and is currently one of the largest DIY real estate sales platform in Australia, attracting over 60,000 visitors each month Snapshot • With a market capitalisation of $10.8 million, buymyplace.com.au (‘BMP’) is one of Australia’s largest do - it yourself (‘DIY’) commission -free real estate sales platform. − DIY listings in Australia (3% of the sales commission market, up 50% from two years ago) are trending towards other developed countries, in which DIY sales comprise 10 – 30% of the sales commission market. • Launched in 2007 and listed on the ASX in March 2016, BMP has helped over 5,000 customers sell their house, saving an average of $20,500. − BMP delivers a customer-centric approach to DIY property sales through choice, control, cost effectiveness and community. − BMP has achieved significant revenue and listings growth, with 50% p.a. revenue growth since listing. • BMP is now implementing the next phase of its strategy to become the 5,000 + 77% of 60,000 $20,500 leading digital facilitator of property-related transactions in Australia: Properties properties visitors per average sold worth sold within − Implementing the development of ‘best -of- breed’ technology month 1 savings $2.7 billion 90 days 2 enhancements, creating a genuine prop-tech platform. − Launching a comprehensive digital and social marketing campaign. − Leading acquisition and partnership discussions with several complementary rental, buyer services and ancillary service platforms. Source: PRD Nationwide 1. Last 12 months web traffic average Note: Market capitalisation as of 29 March 2018 2. Corresponds to packages sold over the last six months Page 5
Performance since listing Since listing in March 2016, BMP has continued to build a strong customer service team, refine marketing efficiency and effectiveness and develop higher value products to drive significant traffic, listings and revenue growth Consistent revenue and average order value (‘AOV’) growth Listings growth linked to marketing spend 4,000 1,100 350 200 3,500 1,000 Marketing spend ('000 A$) 300 160 Revenue ('000 A$) 3,000 900 AOV (A$) # Lisitngs 250 120 2,500 800 200 80 2,000 700 150 40 1,500 600 1,000 500 100 - Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 Jun-17 Sep-17 Dec-17 Run-rate revenue from listings AOV Listings Marketing spend Growing market share (weekly evolution of live listings) ✓ BMP is one of the leading DIY sales platform in Australia, consistently overperforming its competitors in listings growth. BMP leads the market with almost 2,000 live property listings 2,250 ✓ Significant revenue growth since listing, achieving a 50% CAGR 2,000 throughout the period March 2016 to February 2018. 1,750 ✓ Revenue has been driven by the increase in the number of listings and 1,500 customer order value, which has more than doubled since March 2016. 1,250 ✓ BMP’s focus on promoting the brand through marketing and media 1,000 campaigns has led to a leading position in the market, ultimately 750 Mar-16 Jun-16 Aug-16 Sep-16 Nov-16 Jan-17 Mar-17 May-17 Jul-17 Oct-17 Feb-18 resulting in an increase of web traffic and number of listings. buyMyplace Competitor 1 Competitor 2 Note: Revenue excludes other non-operating income Page 6
Recent developments To facilitate the next stage of BMP’s growth, the Board has appointed a highly experienced, growth -focused CEO, approved an accelerated growth strategy (leveraging BMP’s dominance in DIY and undertaking value accretive acquisitions) and approved the implementation of market-leading technology Change in Leadership • Appointment of new CEO in November 2017, Colin Keating, with a strong mandate to grow through acquisitions, partnerships and joint ventures • Appointment of experienced director and lawyer, Stephen Moulton, to the BMP Board Strategy Personnel Technology • • • Optimisation of DIY offering (to profitability). New senior hires and new roles across Market-leading technology in data analytics: marketing, operations and technology: − Customer experience (e.g. roll-out of new • Vision – to become the leading digital − Cameron Barr, Stephenie Pulis-Cassar portal design, enhancement of customer facilitator of property-related transactions in (new senior role) and Michelle Taylor. service desk). Australia. − Internal efficiencies (e.g. improving supply • Culture refresh, with customer centricity at the • Focus – customer-centric approach providing management process). core of all activity. choice, control, cost-effectiveness, community. • Once implemented, technology initiatives will • Value – traffic, community, automation/scale, enhance the customer experience, drive cross-selling, data utilisation/monetisation. significant additional traffic and provide scale • Growth – through M&A and partnerships. across the business. Page 7
02 DIY business update
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