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Neopost Investor Day
SME Digital Solutions Extract
January 16, 2015
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Overall VisionDenis THIERYChairman and Chief Executive Officer
Neopost Investor Day
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Communication is becoming more complex
Transactional mail continues to decline…
… while new forms of digital communication are growing
Our customers have to incorporate technology trends…
… in order to effectively communicate to their customers across multiple channels
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Multiple Source, New Channels and Data Richness
Multiple sources of customer data and multiplication of media communication channels and delivery points
Increased interactivity between companies and customers
Richness of Data: Profile, Customer Type, Location
Neopost can help with this complexity
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The Shipping Market is changing too
The parcel market is growing fast driven by the growth in e-commerce
Carriers are expanding their focus from B2B to B2C
The market is shifting its focus from the carrier to the Shipper and Consumer
Postal Organizations are investing for their networks to leverage the growth in consumer parcels
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Neopost Ambition
MAIL SOLUTIONS COMMUNICATION & SHIPPING SOLUTIONS
CSS Dedicated UnitsNEOPOST INTEGRATED OPERATIONS (NIOs)
Build a Complementary Offer for Current Customer Base
Invest & Speed up Development in Non-Mail Related Business
Continue Developing Mail Related Business
• VAR
• OEM Software services
• SME oriented web / cloud based SaaS services
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Neopost Ambition
MAIL SOLUTIONS COMMUNICATION & SHIPPING SOLUTIONS
CSS Dedicated UnitsNEOPOST INTEGRATED OPERATIONS (NIOs)
Build a Complementary Offer for Current Customer Base
Invest & Speed up Development in Non-Mail Related Business
Continue Developing Mail Related Business
Marketed to enterprise accounts
Developed for NIOs SME oriented web / cloud based SaaS services
OEM Software services
VAR
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Synergies, Synergies, Synergies!
Neopost Growth Areas: What they have in common
Complementary to Neopost’s current business: synergies
Fast growing markets of good size (min $1Bn)
Neopost has the ability to take a leadership position
There is an opportunity for 15% ROCE
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SME Opportunity
>5m SMEs across Neopost’s top 4 countries
The SME market for Digital Solutions today is largely untapped
Much of Neopost’s customer base is companies < 100 employees
SaaS & Cloud are making digital solutions affordable for smaller companies
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Neopost Opportunity
A p p s / S a a S / C l o u d
CSS DUs
CSS DUs
CSS DUs
VAR
OEMNIO
NIO
Large Enterprises
Medium Size
SME/VSE
Shipping EnterpriseDigital
Shipping EnterpriseDigital Partners
S M EDigital Partners
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Positioning Neopost for the Future
MS/CSSEnterprise
Digital Solutions
Shipping
Clem GarveyEurope, APAC, Export
Alain Férard Shipping Solutions
Henri DuraEnterprise Digital
Solutions
Dennis LeStrangeUSA, Canada
Nikolaus ScholzNew
Projects
Integrated Operations
CSS Dedicated Units
New Projects
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Neopost Executive Committee
CFO R&D & Supply Chain CMSO CTO CHRO
CSS DUsNew ProjectsEnterprise Digital Solutions Neopost Shipping Solutions
NIOsUSA, CanadaEurope, APAC, Export
Chairman & CEO
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Sales evolution
Mail Solutions€922m
€1.0 billion
8%
€1.1 billion
17%
€909m
€186m
€1.1 billion
20%
› CSS sales increased by more than 40% per year since 2011› EBIT margin around 22% in 2014 despite a high level of investment
2014 (e)2013 2011
Communication & Shipping Solutions€81m
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Mid Term Ambition
2017 – 20192014 (e)
€1.4–1.5 billion*
>35%
Mail Solutions
€1.1 billion
20%CSS:
› Ability to grow organically 2% to 4% from 2017-2019
*Exchange rate: €/USD 1.25 and €/GBP 0.78
Communication & Shipping Solutions
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Market TrendsNikolaus SCHOLZChief Marketing & Strategy Officer
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Mail volumes are declining Mail* volume in Main 4 (US, UK, France, Germany)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016100
150
200
250
?
Historical Trend Projections
Sources: Historical: US (USPS Quaterly Reports), Germany (Deusche Post Annual Reports), France (ARCEP Observatoire Postal), UK (Ofcom Reports)* only addressed mail
-0.4%
-5.3%
-6.6%
-3.5%
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Two Expansion Directions from our Core
Physical Communication
DigitalCommunicationShipping
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Electronic Invoices MarketExpects strong growth over the next 3 years
Electronic Invoices – Overall Market Revenue
(in $B)
(Estimates in %)
Focus on Europe penetration rate in Europe
Global E-invoicing Market by Geographical Segmentation 2012 European market
The regulation is a key pillar to adopting a full digital invoicing solutionsThe governments are switching quickly to the Electronic invoicing , pushing SMBs to adopt this process as well Ex: Denmark is the most advanced in Europe, due to government who established E-invoices as mandatory
Other markets
USA: Need to Enhance Invoicing Process Brazil: E-invoice adoption is pushing by regulation, however the complexity involved, remains an hurdle
Series1
3.4 4.15.1
6.38.1
Source: Technavio market survey 20132016E2015E2014E20132012
CAGR +24%
Source: Billentis 2014
Source: Technavio market survey 2013
APAC 9%
EMEA 55%
Americas 36%
201420132012201120102009
B2B/B2G/G2B
B2C
24%
14%
20%
13%15%
11%13%
9%10%7%8%
5%
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SMEs are digitising rapidly
› Neopost is legitimate to accompany its customers in their transformation from a communication 100% physical to a mix of digital and physical communication
Increasing Level of digitization
Physical Only
13% Held Back
13% Digitising
ExternalPull
26% Digitising
InternalPush
9%Steady State
reached(for now)
25%Fully
Digital
16%
Immediate opportunity for Neopost Mid-term opportunity
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Conclusion on market trends
Physical Communication
DigitalCommunicationShipping
$2-3bn* $3-4bn* $2-3bn*Market
addressedby Neopost
10-12% -3% 10-12%Growth rates
* Source: Neopost and Gartner estimates
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SME Digital SolutionsNikolaus SCHOLZChief Marketing and Strategy Officer
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Positioning Neopost for the Future
Enterprise Digital
SolutionsShipping
Alain Férard Shipping Solutions
Henri DuraEnterprise Digital
Solutions
CSS Dedicated Units
MS/CSS
Clem GarveyEurope, APAC, Export
Dennis LeStrangeUSA, Canada
Integrated Operations
New Projects
Nikolaus ScholzNew Projects
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Neopost Opportunity
23
A p p s / S a a S / C l o u d
CSS DUs
CSS DUs
CSS DUs
VAR
OEMNIO
NIO
Large Enterprises
Medium Size
SME/VSE
Shipping EnterpriseDigital
Shipping EnterpriseDigital Partners
PartnersS M EDigital
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Investing to claim a relevant share in fast growing market
5m SMEs
>50% of SMEsnot digitized
TransactionsDocument/SME
Adoption rate for value added services
Market Opportunity
3-5bn €
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3 key pillars of our SME SaaS solutions
030201Portal & Platform Applications Go-To-Market
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Saas Platform – complex, powerful and highly scalable – released H1 2014
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Saas Platform
It is the common platform for
• delivering all Nepost branded SaaS offerings
• targeting SME with respective products & services (Apps)
01Portal & Platform
The foundation for our future business is ready in 2014
2014• launched in H1 in the UK• ongoing evolution (v1.2)• Software Development Kit
(SDK) for App integration successfully validated
Statuspowerful and scalableplatform ready to beleveraged for business and ready for app integration
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3 key pillars of our SME SaaS solutions: Focus 2015
030201Portal & Platform Applications Go-To-Market
2014• launched in H1 in the UK• ongoing evolution (v1.2)• Software Development Kit
(SDK) for App integration successfully validated
Statuspowerful and scalableplatform ready to beleveraged for business and ready for app integration
2015• Increase number of Apps• Test & iterate fast
2015• Establish the right
go to market• Test & Iterate Fast
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A variety of APPS & the right go to market
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Mid Term Revenue Ambition
18 months 36 months
70k Users
300k Users
Paying Customers
15%
15%
ShortTerm
MidTerm
Vision
Ambition
• 50k customer
• 10-15m€
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Investing to claim a relevant share in fast growing market
mid 2016t
Growth / H2
Innovation / H3
Mature / H1
Market Stage
end 2017 2020-2025
Relevant Market Volume
Market Opportunity
3-5bn €
* Market share similar to GMCs positioning in the Enterprise market
5 -1
0%*