Mercado Alternativo Bursátil Palacio de la Bolsa Plaza de la Lealtad, Madrid Madrid, 29 de mayo de PDF

Mercado Alternativo Bursátil Palacio de la Bolsa Plaza de la Lealtad, Madrid Madrid, 29 de mayo de 2014 HECHO RELEVANTE LET S GOWEX S.A. Asunto: Presentación Foro Medcap Muy señores nuestros: En

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Mercado Alternativo Bursátil Palacio de la Bolsa Plaza de la Lealtad, Madrid Madrid, 29 de mayo de 2014 HECHO RELEVANTE LET S GOWEX S.A. Asunto: Presentación Foro Medcap Muy señores nuestros: En cumplimiento de lo dispuesto en la Circular 9/2010 y para su puesta a disposición del público como hecho relevante, ponemos en su conocimiento que Let s GOWEX S.A., en adelante GOWEX, adjunta la presentación de fecha 28 de mayo expuesta en el Foro MEDAP, celebrado en la Bolsa de Madrid Quedamos a su disposición para cuantas aclaraciones consideren oportunas Jenaro García Martín Presidente del Consejo de Administración Our platform creates a virtuous circle This presentation contains forward-looking statements that involve risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove in correct, our results may differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact could be deemed to be forwardlooking, including, but not limited to, any projections of financial information; any statements or expectations about growth in the business, number of users, network footprint, revenue, profitability and / or cash generation of the company; any statements about historical results that may suggest trends for our business and future results of operations; any statements of the plans, strategies and objectives of management for future operations; any statements of expectation or belief regarding future events, potential markets or market size or technology developments; and any statements of assumptions underlying any of the foregoing. These statements are based on estimates and information available to us at the time oft his presentation and are not guarantees of future performance. Actual results could differ materially from our current expectations as a result of many factors, including but not limited to: fluctuations in our business and results of operations; our ability to address market needs and sell our products and services successfully; the general market conditions of the mobility services industry; and the effects of competition. 3 Agenda 1. GOWEX: GROUP PROFILE 2. GOWEX WIRELESS AT THE CENTER OF A HUGE MARKET OPPORTUNITY 3. FINANCIALS AND MAJOR ACHIEVEMENTS 4. STRATEGY AND OUTLOOK 5. THE SHARE Our mission BEING THE WORLDWIDE LEADER of Wireless Smart Cities, based on the great advantages granted by our PLATFORM (Proprietary Technology and Exclusive Business Model) SUSTAINABLE AND RECURRENT INCOMES. A PROVEN AND PROFITABLE BUSINESS MODEL BASED ON NETWORK EFFECT. FAST & PROFITABLE GROWTH 5 Building Wireless Smart Cities Main Cities 86 Cities with more than 135 million Inhabitants Spain UK Ireland France Belgium 110 Countries Covered with Roaming Partners New York Paris San Francisco Madrid Miami Dubai Ningbo Edinburgh Nice Argentina Costa Rica Panama USA Congo Republic UAE Saudi Arabia China 23 Transport Agencies 3,5 Billion passengers 6 GOWEX Wireless Smart Cities : a win - win PLATFORM GOWEX IS LIKE THE VISA Platform What is a Wireless Smart City? It is a city WISP to municipalities : a win-win model in which Citizens are helped in their daily life via a mobility and interactive services to find for instance a parking place, optimize their moves via real time Urban Traffic, improving security, etc. in which municipalities can manage their own infrastructure (e.g. M2M, energy & transportation efficiencies, control waste management, measure & locate pollution peaks ) and help increase businesses. where Operators / Partners optimize the infrastructure usage and maximize efficiencies. 7 Results 2013: Fast growth and solid profitability % Over 2012 For 2013, we expected 170 M Half Year Full Year +60 % And finally we got M (+7.4%) % % +70 % Turnover Gross Margin EBITDA Net Profit * Figures in million euros * Please note these figures have not been audited 8 Agenda 1. GOWEX: GROUP PROFILE 2. GOWEX WIRELESS AT THE CENTER OF A HUGE MARKET OPPORTUNITY 3. FINANCIALS AND MAJOR ACHIEVEMENTS 4. STRATEGY AND OUTLOOK 5. THE SHARE Consumers have a true love of mobile devices CITY Public WiFi penetration has increased from 30% to 80% Global Mobile data traffic to increase by factor of 13 from 2012 to 2017 Consumers are willing to surrender personal data for a better experience. But they want control 70% of mobile users are now using public hotspots * Source: Cisco Mobile users are interested in localized, personalized and enhanced experiences when using Wi-Fi 80% of tablets connect only with Wi-Fi 10 We create a new category inside a HUGE MARKET Growth of M2M connectivity x5 within the next 4 years billion machines will be connected to the Internet by 2020 HUGE MARKET We are at the beginning of the ramp Fidelity thinks that M2M is the next big wave after smartphones 11 Engineering CITY Monetizing with ENGINEERING Commercial process Deployment process 12 Network NETWORKS Monetizing with NETWORK Offloading Roaming 13 Media USERS Monetizing with MEDIA 14 Media - SWAP (Smart Wireless Ad Platform) SWAP AD NETWORK Subscription offers BIG DATA Added-value content Customized messaging OPERATORS Messaging ADVERTISERS Coupons (loyalty-existing Customers) Advertising Ads (customer Acquisition) RETAILERS GEO-LOCAL Added-value content AGENCIES NETWORK 15 Wireless Smart Cities PROFITS Sustainability And Network Effect Create attraction to new Wireless Smart Cities 16 Our platform creates a virtuous circle Sustainability Create attraction to new Wireless Smart Cities CITY Monetizing with ENGINEERING PROFITS NETWORK EFFECT NETWORKS Monetizing with MEDIA Monetizing with Network (Roaming and Offloading) USERS 17 Revenue composition Activity Business Unit WiFi Cities by GOWEX CITY Engineering NETWORK Network ENGINEERING Media MEDIA Platform Engineering New-York San Francisco Paris Buenos aires Hong-Kong Roaming AT&T Deutsche Telekom Skype Ipass Oï Offloading T Mobile AT&T Mas movil Pepefon Telecor Personal Oï Advertising Smart Wireless Coca Cola Nintendo Advertising Platform Nike Dell Skype Nokia Toyota (SWAP) Types of revenues 1/ Consultancy 2/ Set up 3/ Management fees 1/ Set up fees 2/ Membership fees 3/ Roaming in 4/ Commissions 1/ Set up fees 2/ Membership fees 3/ Network Usage 4/ Commissions 1/ Consultancy 2/ Retainers 3/ Success fees 4/ Management fees Nature of revenues Non recurrent & recurrent 1 - Non recurrent 2,3,4 - Recurrent 1 - Non recurrent 2,3,4 - Recurrent 1 - Non recurrent 2,3,4 - Recurrent Margins = = Agenda 1. GOWEX: GROUP PROFILE 2. GOWEX WIRELESS AT THE CENTER OF A HUGE MARKET OPPORTUNITY 3. FINANCIALS AND MAJOR ACHIEVEMENTS 4. STRATEGY AND OUTLOOK 5. THE SHARE Major Achievements: 2013 and Q Business growth More than 3.5 MM users of GOWEX WiFi networks managed with Freemium model Breakthrough in the UK with Edinburgh NYC 2 nd phase 2 more cities in China Strategic deal with Deutsche Telekom and AT&T in the USA. FREEWiFiGOWEX in New York, San Francisco and Miami Deal with Win to cover Belgium Alliance with Atlanteam to offer WiFi in airports in France GOWEX will provide WiFi service in Hong Kong, expanding in Asia (PCCW) GOWEX gets in Italy with Bluewireless carriers hand Nice and Ajaccio will have new free WiFi service provided by GOWEX Oï Wi-Fi agreement in Brazil Corporate Governance & Stock ZTE 200MM facility for projects IDEUP acquisition GOWEX strengthens its Board of Advisors and Directors by engaging world experts in telecommunications Start of the ADR program in New York GOWEX shares split with a 5:1 ratio GOWEX to become part of the MSCI Spain Index Carlos Pujol, GOWEX USA & Canada CEO (May/14) GOWEX UK & Ireland CEO (May/14) Margaret Chen, vice-president of GOWEX China and member of the board of advisors (Sept./13) GOWEX reaches an agreement with Eastern Fibernet, and expands its presence in China and Asia New York City and GOWEX expand free WiFi network 20 GOWEX Mobile Highlights More than 30 customers (Santander, BBVA, Iberia, Fiat, Domino s Pizza, ) Products developed allow us to repeat success in different countries/customers with minimum investment: Big Venues Smart Cities Retail Tier one international bank to deploy first wifi banking experience worldwide (to be announced by summer) Custom service design to optimize your business performance based on our expertise. (Ex. Transport) More products in pipeline. First bluetooth BLE Beacons trials integrated with Wifi (Shopping centers) 21 GOWEX Mobile helping GOWEX unlock value Monetization Services Platform Infrastructure Mobile Transactions Digital Commerce Mobile Geolocation indoor/outdoor WiFi tracking solutions Parking / Tourist Information User Management Platform Ad server / Content Management Sys. Geolocation Platform WiFi Beacons 22 GOWEX Mobile : monetizing example PISTA: Intelligent platform for tourism services 23 We2 Superior Social WiFi Accelerating GOWEX Expansion Sustainable Social Wi-Fi GEO-LOCALIZED INFORMATION & ADS MONETIZATION ROAMING OFFLOADING ++ Users ++ Network Social Wi-Fi SOCIAL EXPERIENCE Enabling relevant interactions between people and merchants nearby Users Network Community Wi-Fi CONNECTIVITY Shared Wi-Fi at merchants, homes, and other relevant places Private Wi-Fi provides a capacity 30 times bigger than Mobile Operators 24 We2 Enhancing the Social Experience of real places Santander Bank Lilly, we have an special offer on motorbike assurance. Come to our office whenever you want Juan Ramiro - Sharing 74 WiFluence 7 friends in common Check 345 followers tweets Jaime Gallo - Online 37 WiFluence Last post Enorme Raul, Last tweet: pi H&M Hi Lilly, shopping? We have an exclusive discount to you in this shop right now: 15% on shoes and bags!!! Come in and check them! Starbucks Coffee Lilly try our new coffee, Vietnam taste and get your favourite muffin for free. Calle Goya 81, Madrid 25 We2 Benefits OPERATORS BUSINESSES CITIZEN Market differentiation It offers a distinctive service and increase your presence through a new communication channel Offloading Decongests the data network and provides a more efficient service Monetization Premium Subscribers Advertising Roaming and Offloading Smart Advertising Offer your services to your target customers about your brand exploiting commerce Customer intelligence Use the data from your customers to understand your business and provide a personalized service Managed secure WiFi It offers secure access to your WiFi network, eliminates logins and passwords Free and Global WiFi Free access to We2 and GOWEX global network in nearly 80 cities Custom Offers Geo-localized and personalized for members of the community We2 International community Promote Yourself, customize your profile, interact with your surroundings 2 operators* already signed & in deployement phase *NdA 26 Turnover evolution - Full year 2013 % Over 2013 and 2012 Growth based on the internationalization of the company +342% +60 % % Audited Figures In million euros 27 Business Lines - Full year 2013 Business Lines Break-down Gowex Telecom Gowex Wireless Consolidated Sales % Change 2013/2012 Share of total sales 2013 In million euros, at December 31st GOWEX Telecom % 14% GOWEX Wireless % 86% Consolidated Sales % * Figures in million euros 28 International and recurrent incomes Evolution of international turnover Recurrent / Non recurrent revenues composition 33% 31% 43% 58% 42% 57% 67% 69% International National Recurrent No Recurrent * Figures in million euros * % Year 2013 over Year Profit & Loss Account Consolidated GOWEX Group (M ) 2013 % of Total Income 2012 Variation 2013 /2012 Turnover % % Gross margin % Other operating income + activation x6,7 Employees costs (4.3) 2% (2.8) +56% Operating costs (40.9) 22% (26.9) +52% EBITDA % % Depreciation (0.9) (2.3) (61%) Amortization (13.3) (6.8) +96% EBIT % % Financial results ns Profit before tax % Taxes (10.6) 5.7% (5.2) +104% Net Profit % % Figures in million euros Audited figures * % Year 2013 over Year Balance Sheet Consolidated Assets ( M) 2013 Liabilities ( M) 2013 Non current Assets 62.4 Net Equity o/w treasury stocks ,4 Current assets Non current liabilities o/w long-term debts o/w trade receivables for sales and services 43.4 Current liabilities o/w short term debts o/w cash and other financial equivalents 54.9 o/w trade and other acc. payable 34.7 Total Assets Total Liabilities * Audited Figures * Figures in million euros 31 Cash Flow Consolidated Let s GOWEX S.A. (M ) Financial year result before tax Adjustments Change in working capital (14.1) (7.1) Other cash flow from operating activities (6.2) (1.3) Cash flows from operating activities Cash flows from investment activities (45.6) (35.9) o/w operating investments o/w financial investments (3.8) 26.0 Accounts receivable and payable for equity instruments (1.9) 17.9 Accounts receivable and payable for debt instruments Payments for dividends Cash flows from financing activities Treasury increase (5.6) 6.3 Treasury at the beginning of the financial year Treasury at the end of the period M Figures in million euros Audited figures Secur. Deposit Stocks Securities Mut. Funds Liquidity Contr. Co. Loans Cash TOTAL ,0 0,03-5,2 0,7 9,2 64, ,2 0,03-1,1-3,6 53,9 32 A comfortable cash position for co-investment 30,5 million of cash* External Finance Loans / Project Finance LEADING PROJECTS Longer term contracts * Net Cash 31st December 2013 (audited) 33 Agenda 1. GOWEX: GROUP PROFILE 2. GOWEX WIRELESS AT THE CENTER OF A HUGE MARKET OPPORTUNITY 3. FINANCIALS AND MAJOR ACHIEVEMENTS 4. STRATEGY AND OUTLOOK 5. THE SHARE GOWEX Wireless Smart Cities Pipeline Preliminary talks Advanced talks Helping to shape the project Bidding/Negotiating terms Contract Number of cities Population Implementation Service million million million million Pipeline is 85% bigger than the last year 3 Tier-1 cities in the USA 35 2013 Biggest Actors in Wireless Environment Over The Top (OTT) internet players CITY Operators The competitive environment has become more dynamic which means we have clearer threats and greater opportunities. Operators need GOWEX more than ever. An opportunity to be the hub of operators and OTT in a profitable way 36 Where the actors are in WiFi Cont. Operators Want to entry on WiFi Opportunity They are threatened by OTT They don t know how to do in WiFi field They need a partner that can be trusted They need to do it fast GOWEX is the perfect Partner for them Still Neutral Gowex is the opportunity for operators to monetize Wi-Fi 37 New Targets 600Cities 2018 Current Model, Position & Finance Franchises & Alliances New Disrupt Tech. (including We2) Previous objective : 300 cities 38 Agenda 1. GOWEX: GROUP PROFILE 2. GOWEX WIRELESS AT THE CENTER OF A HUGE MARKET OPPORTUNITY 3. FINANCIALS AND MAJOR ACHIEVEMENTS 4. STRATEGY AND OUTLOOK 5. THE SHARE Capital Structure The social capital of the Company amounts to 723,133.60, divided into 72,313,360 ordinary shares of 0.01 per value each (post split). free float increasing to 37,9% 37,90% 9,94% 27,40% 24,76% 40 MAB (GOW) & ALTERNEXT (ALGOW) ISIN code: ES Outstanding shares: 72,313,360 (post split) Market cap. : 1,200 million Stock liquidity : 30 days average Vol. : 330 K shares/day GOWEX became part of MSCI Spain From 08th/04/2013 to 08th/04/2014 Evolution of Analyst Coverage Bekafinance Bekafinance Bekafinance Bekafinance Bekafinance Aurel Aurel Aurel Aurel Nfinance Nfinance Nfinance AFI AFI N+1 JB Capital Ticker 1 year ago 26th/05/2014 MAB-EE GOW NYSE Alternext ALGOW Conclusion We are delivering facts that back our Strategy based on our current Market Position, Technology and Business Model with a Recurrent & Profitable Growth Our product is now moving into a demand led phase and this is just the beginning of our journey With our Cash-flow, our Strategic Alliances and WE2 leverage we fuel the growth and take the Lead at Global Scale Based on those facts and our Aggressive Growth Strategy. We are reinforcing our Leadership to become a Global Standard We are working today on the GOWEX of the years to come, and capitalizing on the GOWEX vision that we had years ago 42 obrigado спасибо esker grazas köszönöm tack grâce gracias thanks 谢 谢 gràcies dank ευχαριστίες grazie
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