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Presentation
Décembre 2014
Technology for e.ID & Contactless Solutions
132 million cards delivered
since 2001
50 million passports delivered
since 2006
103 CITIES IN 27 COUNTRIES
The Technology Inside Secured Documents for
Identity and Mass Transit
Algiers Florence Monterrey San Diego
Atlanta Helsinki Naples San Francisco
Bogota Lisbon Nice Singapore
Brisbane London Orlando Sydney
Cancun Los Angeles Oslo Tel Aviv
Caracas Marseille Panama City Turin
Casablanca Medellin Paris Valencia
Chicago Mexico City Porto …
Denver Miami Pretoria
Dubai Minneapolis Riga
13 COUNTRIES
United KingdomUSA France Israel
Belgium
Greece
Philippines
Ivory Coast Gabon
Lesotho Mozambique
Uzbekistan Sierra Leone
2
TRADITIONAL TECHNOLOGY
ASK Technology: an Innovative Answer to Security
and Reliability Issues
3
Copper wire Antenna
ASK TECHNOLOGY
Unique process: direct connection of the chip to a
silver ink printed antenna
Reliability
Adaptability
Security
Efficient Industrialization
CONTACTLESS CARDS
Products & Solutions Tailored For Each Market
4
Governments Mass Transit Operators
E-COVERS AND INLAYS
Integrators(Gemalto, De La Rue, Giesecke & Devrient,
Oberthur, Morpho/Safran)
5
The Electronic Identity Document Market (e.ID)
DRIVERS
Increased security requirements: domestic as
well as on borders (biometry, cryptography,
data protection)
Seamless controls
Reliability and durability of the documents
International standardization (ICAO standards)
and modernization of administrations
TRENDS
Among the 193 UN members, 95 countries
deliver electronic passports
Extension of ‘‘contactless’’ to other identity
documents (ID, driving licences, residence
permits, etc.)
ID Cards
Driving Licences
Sources : Frost & Sullivan Contactless e.ID Market, ASK
e.ID INLAY MARKET
(in million units)
Passports
+ 22% / year+ 10% for passports
€129m in 2013 Passeports : €91m
192
253
331
420
500528
2013 2014 2015 2016 2017 2018
In 7 Years, ASK Has Become a Worldwide Reference
6
2006
ASK wins the contract to supply e-covers
for Greek ePassports
4.2 million units delivered in 2007 and
2008
Partner: Toppan
2009
ASK starts delivering French ePassports
>15 million units delivered from 2009 to
2013
Partners: Gemalto / Safran-Morpho
2010
ASK wins the RFP for the supply of
British ePassports
10 million units delivered over the
period 2010-2013
Partner: DeLaRue
2012-2013
ASK selected as a supplier of e-covers for
US passports
1.5 million units produced in the US
facility (Burlington, VT) in H2 2013
Partner: Infineon
Customer relationship
Validation phase (product /
interoperability)
Multi-year contracts with 2-3 suppliers
Ordering from contracted suppliers
Partners
Gemalto, De La Rue, Giesecke &
Devrient, Oberthur Technologies,
Morpho/Safran
7
ASK Selected for the US ePassport
Start of mass production: June 2013
1.5 million e-covers
delivered in H2 2013(1)
(1) Sales invoiced by ASK IntTag
CONTEXT
Largest program of electronic passport in the world
≈10 million ePassports issued per year
First discussions in 2004
ISSUES & CHALLENGES
High level of security
Performance requirements: resistance, durability (10 years)
« Chinese wall » between the different steps: Chip, OS,
Antenna, Booklet (GPO)
ASK SOLUTION
ASK technology (silver-ink based e-covers) shortlisted for
the first time in December 2004
End of 2008: launch of the Burlington factory (formerly IBM
premises) where chips for ePassports are produced
2010: partnership with Infineon (chip SLE78), specific tests
2012 : Infineon-ASK et Gemalto-SMARTRAC selected for a
5-year contract (3 million units / year for ASK)
8
Contactless Cards Market
DRIVERS
Unified solutions: multi-modality
Solutions for frequent and occasional
passengers
Seamless controls & secured transactions
Costs / maintenance of infrastructures
Reliability
TRENDS
> 500 cities with over 1 million citizens
worldwide urban population: 6 billion in 2050
Development of mass transit infrastructure
Growing adoption of ‘contactless’ (cards &
tickets)
Mass transit / banking convergence
Banking Cards
Other (Access, Loyalty, Gaming, etc.)
1 276
1 761
2 270
2 830
3 414
3 859
2013 2014 2015 2016 2017 2018
CONTACTLESS SOLUTIONS MARKET
(in million units)
Sources : ABI Research, ASK
Mass Transit Cards
+ 25% / year+ 11% for mass transit
€1,500m in 2013 Mass transit: €500m
2005-2008
2001-2005
A Clear Leadership in Mass Transit
9
1997 - 2000
ASK creates the dual-card technology in
collaboration with RATP and SNCF to
develop the Navigo card and C.ticket
Top cities: Nice and Amiens
Cards: 10 million units per year
Atlanta, Mexico, Velib’, Singapore e-purse
Tickets: 20 million units per year
Hong Kong, Chicago, Florence, etc.
Olympic Games in Beijing
2013Cards: 26 million units per year
4th contract RATP/SNCF (50% market share)
50 cities in France
London, Dubaï, Oslo, Helsinki, Sydney,
Jerusalem, Miami, Denver, Houston, San
Diego, Bogota, etc.
Cards: 4 million units per year
Paris Navigo Card, Lisbon, San Francisco
Tickets: 6 million units per year
Lisbon, Porto
Partners:
Transdev, Keolis, Xerox-ACS, Thales,
Cubic, Novabase, Peajes, etc.
Customer relationship
Validation phase (product /
interoperability)
Multi-year contracts with 2-3 suppliers
Order from contracted suppliers
10
4 million cards delivered
in 2013
ASK: An Answer to Mexico’s Urbanization Challenge
CONTEXT
Mexico City: 8th city in the world - 21 million
citizens
Reorganization of the public mass transit network
in 2005
2 ticketing systems (bus and subway)
simultaneously implemented
ISSUES & CHALLENGES
Find a solution for subscribers / occasional
passengers
Same card frequently recharged (low purchasing
power)
Improve security and speed
ASK SOLUTION
Calypso standard (RATP) selected
for subscribers
2005: Launch of Metrobus, ‘‘contactless’’
rechargeable card
2012: Interoperability of Metrobus, which can be
used as a city card on the Federal District network
EUROPE
Sophia Antipolis (France)
Head office + R&D
115 employees
ASIA
Beijing (China)
300 employees
Production: a global organisation
11
Production capacity:
6 M e-Covers (passports)
Production capacity:
35 M Cards
6 M e-covers (passports)
Production capacity:
30 M inlays (cards)
15 M e-covers (passports)
38 M tickets
UNITED STATES
Burlington (Vermont)
Joint venture
46 employees
Workforce 2014:
461 permanent
staff
388 Prod
26 R&D
20 Sales & Marketing
27 Admin
Industrial transformation in progress
12
REMINDER OF AIMS
Increase gross margin to a level close to industry standards
Increase production capacity to support the development plan
Achievements 2014 YTD :
Transfer of the entire production capacity of Indian site to China in the new Beijing ASK
Smart site. Closure of Indian site effective since 20 September, 2014: €0.8 M savings in a
full year
Increase in production capacity at a more rapid pace than initially planned: more than
700,000 inlays (passports) produced in September
Beginning of the massification of elementary operations (antenna printing in China)
Turnover in the first nine months: +11%
(excluding discontinued or refocused activities)
13
Group turnover per business line 9M 2014 9M 2013 Variation
Passport Inlays 13.5 11.1 +22%
Dual Interface Cards 5.9 4.2 +38%
Contactless Cards 8.4 9.6 -13%
Contactless Tickets 2.6 2.5 +4%
Group turnover excluding discontinued or refocused activities 30.4 27.4 +11%
In M€ - (unaudited data) 9M 2014 9M 2013 Variation
Consolidated turnover 28.4 27.8 +2%
Joint venture turnover(1) 5.1 4.4 +15%
Eliminations (2.1) (1.6)
Group turnover(2) 31.4 30.6 +3%
Group turnover excluding discontinued or refocused activities(3) 30.4 27.4 +11%
(1) ASK IntTag, American joint venture, of which it holds 50.01%, ASK TongFang, Chinese joint venture, of which it holds 50.01%
(2) ASK product sales achieved by ASK and joint ventures net of transactions between related parties
(3) Discontinuation of Low-Cost Inlays activity and refocusing of Terminals activity
Drive for our customers the
necessary "technology migration"
(toward dual cards from magnetic
tickets to banking cards and
phone)
Banking/transport convergence
and rise of mobile
Become THE LEADING
SECURITY REFERENCE in
contactless eID technology
Be innovative in terms of both
technology and services (people &
objects)
ASK: on track for €100 M revenue
15
Contactless SolutionseID Technologies
SecurityConvergence Banking/Transport
Smart Cities
ServicesTechnologies & Systems
Innovation / R&D
Marketing efforts
License / Technology Transfer
Vertical integration
Convergence: Occasional = Banking app
Services: Perso, Data ,Web, Logistics
€19
M
€35
M
€30
M
€70
M
Confirmation of our strategic ambition
15
GROUP TURNOVER
PROGRESSION(ASK + joint ventures) - in €M
€100 M in 2017
2009 2013
22.6
43.9
x2
STRATEGIC PLAN
Identity: Passports to 2/3 new countries per year
+ electronic driving license in the USA
Transport : 3 major cities per year + replication of French
deployment model (50 cities) in the target countries (Portugal,
Mexico, Colombia, UK, Italy, etc.)
Transport industry: customisation - (move up the value
chain)
Transport industry: increase deployment of Contactless
Tickets
Hybrid Cards - Transport / Banking (payment)
Transport Applications for Smartphones
Contactless Payment Cards (innovations, protection against
fraud)
2260 route des Crêtes
06560 Valbonne
France
www.ask-contactless.com
STOCK MARKET DATASHAREHOLDINGS (7,545,221 shares)
12%
21%
7%
26%
34%
Annex - Shareholding
ISIN FR0011980077
Ticker ASK
Reuters ASK.PA
Bloomberg ASK:FP
Stock prices (08/12/ 2014): €5,00
Market capitalisation: €37.7 M
Average daily volume: €76 K
Analytical data:
17
BUSINESSINNOVATIVE
Founders
Innovation
Capital
Management
Other financial
investors
Floating
18
Board
Philippe GEYRES,
ChairmanFormer CEO of Oberthur Card Systems
Former EVP of STMicroelectronics (consumer
& telecom)
Terrence ANNAMUNTHODOPermanent Representative of Equimax
Investments
Investment Advisor of the « Securities and
Futures » Commission in Hong Kong
Léon SEYNAVEPermanent Representative of Troismer
Director at De Persgroep NV
Michel DESBARDPermanent Representative of BlueSky
Capital
Founder of BlueSky Capital
Former Chairman & CEO at Matra
Semiconducteurs
Bruno MOREAUPermanent Representative of Cosette International
Ltd.
Co-Founder of ASK in 1997
Former Head of Development at Innovatron
Valéry HUOTInnovation Capital Permanent
Representative
Former Manager of a CDC secondary fund
Former Head of the ‘‘Bureau de
financement des PME au Trésor’’
18
GOVERNANCE
As of the date of admission of its shares on the regulated market of Euronext Paris, the Company will comply with the recommendations of Middlenext Code, except for the
recommendation to appoint two independent members to its management board. The Company intends to appoint two independent directors: a first independent member will
be appointed within the twelve months following the listing of its shares, and a second independent member no later than 24 months after the listing of its shares.