investor & analyst presentation · investor & analyst presentationh1 2015 | page 2...

Investor & Analyst PresentationSemi-Annual Report 2015

Dr. Cornelius Patt, CEO

August 19th, 2015

Investor & Analyst Presentation H1 2015 | page 2

zooplus profitable sales growth continued in H1 2015

» Total sales increased by 34% to € 344 m

− European market leader position in online retailing sustained

− Guidance for total sales 2015 of at least € 725 m confirmed

» Acceleration of growth rate in D,A,CH

− Total sales growth in H1 2015 of 26% compared to 15% in prior year

» Further significant scaling effects and efficiency gains in cost structure

− Improvements in major cost positions

» Positive result before tax (EBT) of € 3.6 m

− Increased by € 0.3 m compared to prior year

− Guidance for EBT 2015 of € 8 - 12 m confirmed


194257

336

427

571

> 725

2010 2011 2012 2013 2014 2015e

Sales growth and customer retention continue to be the main focus of zooplus strategy

Total sales 2010 – 2015e

+ 63

+ 79

+ 91

in € m

33% 31% 27% 34%Total sales growth vs. PY

+ 144

> 154

New customer sales (1st year)

Repeat customer sales

Total sales

Retention rate93%91%

85%79%

81% H134%


Strong quarter on quarter net sales development

in € m

70.370.370.370.375.275.275.275.2

81.381.381.381.3

92.492.492.492.492.892.892.892.897.497.497.497.4

102.5102.5102.5102.5

114.3114.3114.3114.3120.7120.7120.7120.7 124.1124.1124.1124.1

140.0140.0140.0140.0

158.3158.3158.3158.3164.6164.6164.6164.6

168.3168.3168.3168.3

+ 43.9

+ 26.7

+ 37.5

+ 44.0

QuarterQuarterQuarterQuarter 1111 QuarterQuarterQuarterQuarter 2222 QuarterQuarterQuarterQuarter 3333 QuarterQuarterQuarterQuarter 4444

+ 27.9

2012201220122012 2013201320132013 2014201420142014 2015201520152015 2012201220122012 2013201320132013 2014201420142014 2012201220122012 2013201320132013 2014201420142014 2012201220122012 2013201320132013 2014201420142014

+ 44.2

2015201520152015


94%

Customer loyalty – the winning factor of the business model – is further improving

Retention rates – Cohort analysis (Net sales incl. VAT in € m)

90 86 85 86

505

55 46 45 44

195

100

62 56 55

125

87 79

135

105

174

2011 2012 2013 2014 2015e

100%

84% 98%

63%90%

70%

Ø 79%

Ø 85%

<=2009<=2009<=2009

2010 a+1 2010 a+2 2010 a+3

2011 a

2011 a+1 2011 a+2

2012 a

2012 a+1

Ø 91%

2013 a

2014 a

<= 2009to

2014 a+1

91%

+ 3 %p

2015 a

2013 a+1

2012 a+2

2011 a+3

2010 a+4

<=2009

78%

99%

99%

101%

93%

Ø 93%

Reading example: 2011 a+1= sales of 2011’s new customers in 2012


Additional efficiency gains and scaling effects lead to a further reduction of the cost ratio in H1 2015

Gross Margin & Cost structure

4.5% 3.7% 3.5% 3.5%

4.8%4.0% 4.1% 4.0%

21.7%

20.2% 19.5% 19.1%

2.5%

1.7%1.5%

1.4%

2013 2014 H1 2015 Q2 2015

» Margin reduction mainly due to higher food share and exchange rate effects

» Extremely efficient marketing and new customer acquisition

» Further cost reduction in logistics

» Scaling effects in personnel

33.5%29.6%

IT/Admin/Payment (incl. depreciation & interest)

Advertising/Marketing

Logistics Personnel

in % of total sales

28.6% 28.0%

31.2% 29.7%34.5%Gross Margin29.2%


Unit economics will further improve in logistics

20.2%18.1%

13.8% 14.1% 15.0%

23.9%

zoopluslogistics

all-in

zoopluslogistics

only variable

PL CZ DE ES

Logistics costs1 2014

1 Inbound & outbound logistics, line haul, distribution, packagingas a percentage of total sales

best-in-class


zooplus earnings before tax (EBT) slightly above prior yearalthough sales growth stronger than expected

in € m

3.3

3.6

H1 2014 H1 2015

2.02.1

Q2 2014 Q2 2015

Earnings before tax (EBT)

+ 0.3

+ 0.1

In % total sales

1.3 % 1.1 %In % total

sales 1.6 % 1.2 %


The market is still highly fragmented and competitive

Market share zooplus and competitors 2014

~ 50 % market share zooplus online

~ 2.6 % market share online and offlineCAGR: 2011-14: 30%

Net sales:

€ 0.54 bn

Total pet supplies market Europe (incl. VAT):

~ € 25 bn (~ € 21 bn net)

CAGR: 2011-14: 2 - 3%

Source: Euromonitor, company information, zooplus estimation; 1 online share of total net sales

Growth 2014: 7%

Total net sales:

~ € 1.4 bn

Online 2014: ~ € 0.04 bn(+ 3% vs. PY)

Growth 2014: 10%

Total net sales:

€ 1.0 bnOnline: € ~ 0.01 bn (< 2%)1

Net sales:

~ € 0.25 bn

Other onliners:


2015e:

» Net sales > € 700 m

» Shops in 24 countries, delivery to 30 countries

Net sales / market shares (2014)

HU

Source market size: Euromonitor,market data 2013; zooplus estimation, market growth 2%p p.a., BMF; sales growth 2014 rounded to 5% steps

4.2 bn47 m 1.1%

4.5 bn193 m 4.3%

4.3 bn90 m 2.1%

1.5 bn29 m 2.0%

2.7 bn41 m 1.5%

1.5 bn67 m 4.4%

21 bn543 m 2.6%

Total market 2014 Size of total market

online and offline (net sales)

Net sales zooplus

1.1 bn31 m 2.8%

Market share zooplus

DK, SE, FI

D,A,CH PL, CZ, SK, HU, RO, SI, HR, BG, TR

1.6 bn45 m 2.8%

ES, PT

zooplus is the online market leader in all geographies of Europe – with the widest possible base for further growth

NL, BE, LU

H1 2014: +15%

H1 2015: +26%


Logistics capacity will be doubled in the next three years, product quality and efficiency will further improve

2013

Q1/2015

Fulfillment center (FC) Potential FC under investigation

2009

» FC in Chalon-sur-Saône started in Q1/2015

» Capacity increase in other existing fulfillment centers

» Overall capacity increase by 40% since beginning of 2015

» All FCs operated by partners; no capex for zooplus

2000/2011

Q1/2015


zooplus shareholder structure is very much focused on growth and mid-term value creation

August 2015April 2014

Burda 50.04%

Capital Research

7.99%

The Nomad Investment Partnership 7.98%

Ruane, Cunniff & Goldfarb 5.90%

Wasatch Advisors5.39%

Management 4.00%

Others 18.70%Burda 18.86%

Capital Research 12.68%

Ruane, Cunniff& Goldfarb

10.01%

Management 5.34%

Others 35.21%

Maxburg Beteili-gungen GmbH & Co. KG 13.67%

Deutsche Asset & Wealth 4.23%

Source: information from notification of voting rights and company information; data as of August 15th, 2015


Liquidity in the zooplus stock has strongly increased

Ø per day€ 417 k

2014 2015 Daily tradingvolume in € k

Source: Deutsche Börse (xetra), data until July 31st, 2015

Ø per day€ 1,412 k

Burda < 50% share in zooplus

zooplus capitalincrease

500

1,000

1,500

2,000


In summarizing : zooplus – a sustainable growth story

Attractive market with further growth potential (market volume ~ € 25 bn)

Market leader in e-commerce, closing up on the biggest offliners

Integrated logistics-structure for pan-European sourcing and fulfillment

Growth driven by a large and growing loyal customer base

Cost leadership – online and across all channels

Experienced management team with a share in the company and with a clear and focused strategy

1.

2.

3.

4.

5.

6.

Well prepared for future value creation


Semi-Annual Report 2015

Thank you for your attention.


Back-up: Key Financials


Key Financials Q2 2015

P&Lin € m

Q2 2015 Q2 2014 ∆∆∆∆ abs ∆∆∆∆%p

Total sales 174.3 130.7

∆ abs. 43.6

∆ in % 33.4%

COGS123.4

70.8%89.7

68.6%33.7

2.2%p

Logistics33.3

19.1%26.3

20.1%7.0

-1.0%p

Payment1.9

1.1%1.5

1.2%0.4

-0.1%p

Customer acquisition2.4

1.4%2.1

1.6%0.3

-0.2%p

Personnel6.2

3.5%5.1

3.9%1.1

-0.4%p

G&A4.8

2.7%3.7

2.8%1.1

-0.1%p

EBITDA2.3

1.3%2.3

1.8%0.0

-0.5%p

I&DA0.3

0.1%0.3

0.2%0.0

-0.1%p

EBT2.1

1.2%2.0

1.6%0.1

-0.4%p


Profit & Loss H1 2015

in € mH1 2015 H1 2014

abs % abs %

Sales 333.0 96.8% 244.8 95.3%

Other income 11.1 3.2% 12.2 4.7%

Total sales 344.1 100.0% 257.0 100.0%

Cost of materials -241.9 -70.3% -175.2 -68.2%

Personnel costs -12.0 -3.5% -10.5 -4.1%

Depreciation -0.4 -0.1% -0.3 -0.1%

Other expenses -86.1 -25.0% -67.5 -26.3%

thereof logistics / fulfillment (-67.0) -19.5% (-52.7) -20.5%

thereof marketing (-5.3) -1.5% (-4.4) -1.7%

thereof payment (-3.8) -1.1% (-3.3) -1.3%

thereof other costs (-10.0) -2.9% (-7.1) -2.7%

Earnings before interest and taxes (EBIT) 3.7 1.1% 3.5 1.4%

Financial income 0.0 0.0% 0.0 0.0%

Financial expenses -0.1 0.0% -0.2 -0.1%

Earnings before taxes (EBT) 3.6 1.1% 3.3 1.3%

Taxes on income -1.6 -0.5% -1.3 -0.5%

Consolidated net result 2.1 0.6% 2.0 0.8%

Differences from currency translation 0.1 0.0% 0.0 0.0%

Hedge reserve -1.0 -0.3% 0.0 0.0%

Items that may be relclassified subsequently to profit or loss -0.9 -0.3% 0.0 0.0%

Comprehensive income 1.2 0.3% 2.0 0.8%

Earnings per share in €

basic 0.30 - 0.32 -

diluted 0.29 - 0.31 -


Balance Sheet as of June 30th, 2015

Assets Equity and Liabilities

in € m June 30th, 2015 Dec. 31st, 2014 ∆∆∆∆ abs

A. Non-current assets

I. PP&E 1.1 0.8 0.3

II. Intangible assets 9.2 8.6 0.6

III. Other financial assets 0.0 0.0 0.0

IV. Deferred tax assets 3.5 4.2 -0.7

Total non-current assets 13.9 13.6 0.3

B. Current assets

I. Inventories 64.7 65.0 -0.3

II. Advance payments 4.1 0.5 3.5

III. Accounts receivable 14.8 12.1 2.8

IV. Other current assets 6.2 13.1 -6.9

V.Derivative financialinstruments

1.7 2.3 -0.6

VI. Cash and cash equivalents 37.8 32.0 5.8

Total current assets 129.3 125.0 4.3

143.2 138.6 4.6

in € m June 30th, 2015 Dec. 31st, 2014 ∆∆∆∆ abs

A. Equity

I. Capital subscribed 7.0 7.0 0.0

II. Capital reserves 92.4 92.0 0.4

III. Other reserves 0.8 1.7 -0.9

IV. Profit and Loss carried forward -12.4 -14.5 2.1

Total equity 87.8 86.2 1.6

B. Non-current liabilities 1.4 1.2 0.2

C. Current liabilities

I. Accounts payable 19.0 23.4 -4.4

II.Derivative financialinstruments

0.9 0.0 0.9

III. Other current liabilities 26.7 20.1 6.6

IV. Tax liabilites 0.9 2.0 -1.1

V. Provisions 4.7 4.1 0.6

VI. Deferred income 1.8 1.5 0.3

Total current liabilities 54.0 51.1 2.9

143.2 138.6 4.6


Cash Flow H1 2015

EBT 3.6 3.3

Cash flow from operating activities 7.2 3.2

Cash flow from investing activities -1.4 -2.2

Cash flow from financing activities 0.0 4.4

Net change of cash and cash equivalents 5.8 5.4

Cash on hand, bank deposits, cheques 37.8 11.1

in € m H1 2015 H1 2014


This document includes supplemental financial measures that are or may be non-GAAP financial measures. These supplemental financial measures should not be viewed in isolation as alternatives to measures of zooplus’ financial condition, results of operations or cash flows as presented in accordance with IFRS in its Consolidated Financial Statements. Other companies that report or describe similarly titled financial measures may calculate them differently.

This document contains statements related to our future business and financial performance and future events or developments involving zooplus that may constitute forward-looking statements. We may also make forward-looking statements in other reports, in presentations, in material delivered to stockholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of zooplus’ management, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond zooplus’ control, affect zooplus’ operations, performance, business strategy and results and could cause the actual results, performance or achievements of zooplus to be materially different from any future results, performance or achievements that may be expressed orimplied by such forward-looking statements or anticipated on the basis of historical trends. Further information about risks anduncertainties affecting zooplus is included throughout our most recent annual and interim reports, which are available on thezooplus website, www.zooplus.de. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of zooplus may vary materially from those described in the relevantforward-looking statement as being expected, anticipated, intended, planned, believed, sought, estimated or projected. zooplus neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments whichdiffer from those anticipated.

Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

Safe Harbor Statement

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