Andrea De Marchi - itway.com · presentation and they cannot be shown or disclosed, totally or...
Transcript of Andrea De Marchi - itway.com · presentation and they cannot be shown or disclosed, totally or...
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Group strategy and forecasts
2006
Andrea De Marchi
Vice General Manager & CFO
Itway Group
London, September 2006
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These slides have been prepared solely for the use at the current presentation and they cannot be shown or disclosed, totally or partially, to anybody without prior written consent by Itway Group.
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•• Itway Group Itway Group
•• StrategyStrategy
•• FinancialsFinancials
•• AnnexesAnnexes
Agenda
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Who we are
Itway is a group of leading companies in the supply and licensing of technologies for e-business solutions, able to offer concrete and highly affordablesolutions to its partners.
Itway bases its offer on a precise strategy:
ü To offer best of breed technologies to the market;
ü To train, to follow and to support its partners in a highly qualified way;
ü To utilize best knowledge and most advanced available instruments;
ü To build an integrated offer together with our partners on every bid.
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The Group
100%
90%
ASA
100%
100%
VAD SBU ENTERPRISE SBU
100%
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Our Main Vendors
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Our major Customers
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•• Itway Group Itway Group
•• StrategyStrategy
•• FinancialsFinancials
•• AnnexesAnnexes
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Ø Continuous growth in Turnover (+ 40% in the first 9 month period of 2006 fiscal year, compared with the same period of previous fiscal year), against a growth of the Information & Communication Technology market in Europe of about 5%.
Strategy: Results achieved
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ü January 2005: distribution agreement with Symantec for Iberian p eninsula;
ü May 2005: acquisition of distribution activity of Softway Group;
ü July 2005: acquisition of 100% of Tinetis Srl;
ü September 2005: acquisition of 100% of Interaxon S.A.;
ü January 2006: exclusive partnership and distribution agreement with Verdasys, a Boston based company, strictly related with the Massachusetts In stitute of Technology (MIT), specialized in Data Level Protection (DLP) data safety solution(i.e.: protection of the intellectual property, industrial espionage, telephone call monitoring, market abuse);
ü February 2006: exclusive distribution agreement regarding 10 European Countries with BroadWeb, American multinational company, leader in the development of Intrusion Prevention System (IPS) based on ASIC technology;
ü March 2006: distribution agreement with Zultys Technologies, American company that designs and produces solutions for integration of voice and data on the same company network. The Partnership is in force for all the countri es currently addressed by Itway Group and is aimed to widen the offer in the Wireless and VoIP field with solutions which allow the convergence between voice, data and fa x traffic.
Strategy: Strategic agreements
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ü July 2006: distribution agreement with Tropos Networks, an American company market leader in the manufacturing of products and services based on an exclusively patented Wi-Fi technology, called “Mesh”. This agreement is in force in all the countries addressed by Itway.
Strategy: Strategic agreements
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• Business Week ranking of hot growth companies
ØMay 2002: Itway Group guaranteed NATO-Russia summit from hacker attacks;
ØDecember 2002: Itway included in best 40 European companies ranking for growing rate;
ØOctober 2003: Itway Group provided IT security for meeting of European leaders in Rome;
Ø April 2004: Itway S.p.A. shares are admitted in TechStar segment ofNuovo Mercato of Italian Stock Exchange;
ØOctober 2004: Itway Group provided IT security for meeting of signature of European Constitution in Rome;
ØOctober 2004: Itway included in the best 100 European companies ranking for growth rate*;
ØOctober 2005: Itway included in the best 500 (221°) European companies ranking for growth rate*.
Strategy: Events
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Short term 2006/08
Ø Start up of branches in Switzerland, East Europe and Balkan Area;
Ø Further acquisitions in distribution and in System Integration;
Ø +20 / 30% in turnover;
Ø Profitability increase from:ü strong internal rationalization and integration actions;ü increase in value added products and services.
ØContinuity in dividend distribution.
Strategy: Short term goals
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Strategy: Short term goals
Increase Increase in turnover per in turnover per employeeemployee
Base Base +57%+57%
+22%+22%
2004
2004
2005
2005
2006
2006
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Strategy: Short term goals
EE--commerce commerce (On board) (On board) as efficiency as efficiency engineengine
71%68%
85%82%
% Tur
nove
r
% Tur
nove
r
On boa
rd
On boa
rd
%
% O
rder
s
Orde
rs
from
from
On
On
boar
dbo
ard
100%100%
50%50%
53%
Client managed byClient managed by On boardOn board
56%70%
2004
2005
2006
88%
72%
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Strategy: Short term goals
Produttività e performance: tempo medio di evasione Produttività e performance: tempo medio di evasione ordiniordini**
--
----
200X
200X
200X
200X
200X
200X
ProductivityProductivity and performance: and performance: AverageAverage time in time in orderorderprocessing*processing*
22
4433
2004
2004
2005
2005
2006
2006
* days
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Ø To maintain the high growth rate of last year;
Ø To consolidate the distribution and e-business solution design market;
Ø To be a leading player in Mediterranean Area;
Ø Internal and external growth (self-financed);
Ø EBITDA>10%:Ø improvement of gross profit;
Ø cost cutting (O.H. and organizing).
Ø Improvement in net working capital management:Ø trend to quick in-flows from clients;
Ø high turnover of inventory.
ØContinuity in dividend distribution.
Strategy: Medium and long term goals
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Ø To consolidate the market leadership in current offering:
üSecurity management;
üConvergence (VoIP, …);
üRDBMS;
üCentral Access Management;
üInternetworking;
üOther solutions.
Ø To enlarge offering to SME and SOHO;
Ø To improve organizational efficiency and effectiveness in internal processes;
Ø To enlarge customer base;
Ø To define a new catalogue of courses to enlarge the Itway Academy offering.
Strategy: Strategy for VAD SBU
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Ø To consolidate organizational and functional synergies, to increase scale of operations and to maximize results of each segment of activity;
Ø To consolidate strategic partnerships and to define new ones;
Ø Involvement in complex and strategic and high value contracts (i.e. Italian Ministry of the Interior for personal identification system in Libya);
ØTerritorial diversification of opportunities (Mediterranean Area);
Ø Improvement in:
üOperating efficiency;
üSelling Process (reorganization of processes: from scouting to delivery);
üPersonnel management (detailed scheduling, ready to engage);
üFocus on services and consultancy sales;
üDiversification in industries.
Strategy: Strategy for SBU Enterprise
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•• Itway Group Itway Group
•• StrategyStrategy
•• FinancialsFinancials
•• AnnexesAnnexes
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*Financials: Preliminary statement
Ø In the following slides we will comment the financial data of the Itway Group relating to the period ended June 30, 2006 and the same period in 2005 (Ist half of the fiscal year from 1st October to 30 September).
Ø All presented financial data are prepared adopting the Internati onal accounting standards (IAS/IFRS). The main IAS adjustments to income statement relate to accounting for goodwilll, since its value is recoverable from future cash flows (the previous method of accounting was systematically depreciation).
Ø Therefore, in the following slides, it will be commented only th e data of the 9 month periods of each fiscal year 2005-2006, since they are the only comparable ones according to the mentioned IAS/IFRS.
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Financials: Consolidated Profit & Loss
SALESSALES**
Var.
+39,7%
EBITDAEBITDA**
2.695
Var.
+53,4%
EBITEBIT** EBTEBT**
65.771
2005
2006
2005 2006
1.757
Var.
2005
1.2502.171
+73,6%
91.864
2006
Var.
2005
1.064
2006
1.772
+66,5%
* 9 months Amounts in thousands of Euro
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Financials: Profit & Loss SBU VAD
SALESSALES**
50.88677.143
Var.
+51,6%
EBITDAEBITDA**
Var.
+124,0%
EBITEBIT** EBTEBT**
2005
2006
2005
2.556
2006
1.141
Var.
2005
9992.243
+124,5%
2006
Var.
2005 2006
1.0642.054
+93,0%
* 9 months Amounts in thousands of Euro
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Financials: Profit & Loss SBU Enterprise
SALESSALES**
14.88514.721
Var.
-1,1%
EBITDAEBITDA**
EBITEBIT** EBTEBT**
20052005 2006
* 9 months Amounts in thousans of Euro
616
2006Var.
139
-77,4%
20062005
251
(72)
Var.
-128,7%
0
2005
2006
(282)
Var.
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Financials: Consolidated Balance Sheet (Thousands of Euro)
3434
86.073(5.462)
93814.76520.227
8.52611.701
Sep.30, 2005
91.86463.142Turnover(9.988)(12.521)Net Financial Position
-313Long Term Loan16.659*15.765Net Worth26.64728.286Total invested capital14.13915.650Net working Capital12.50812.636Non current assets
Jun.30, 2006
Mar.31, 2006
Days Days NetNetWorkingWorkingCapitalCapitalOutstandingOutstanding
20042004 20052005 20062006
35353030
* Includes Pre-Tax results of the period
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•• Itway Group Itway Group
•• StrategyStrategy
•• FinancialsFinancials
•• AnnexesAnnexes
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Il Cliente
E-Business Solution
Solution ApplianceInternet working
e-commerceinfrastructure
Security
RDBMS - BI
SBC
Il Cliente
E-Business Solution
Solution ApplianceInternet working
e-commerceinfrastructure
Security
RDBMS - BI
SBC
Who we are: The integrated approach of the Group
Solution ApplianceInternet working
e-commerceinfrastructure
Security
RDBMS -BI
SBCE-Business Solution
Client
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ØValue Added Distributor which provides complex software, supplying consultancy and training.
ØModel of Business recognized as one of the most innovative at European level by operators and by independent research firm.
ØFocus on distribution of software addressed to realization of e-business solutions.
Ø Irreplaceable junction ring between vendors and VARs, SI e Telcos, in the chain of value of distribution.
ØDynamic structure able to concentrate itself on markets with the higher growth rates.
Ø Infomediary, “Distrigator” and indispensable partner for VARs, SI and Telcos.
Who we are: SBU VAD, a model of value
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ØConsultancy and production of solutions and software for e-business:
ØCreation of internet portals to manage activities b2b, CRM, Call Center and Wireless Application, Datawarehouse
ØSupply of outsourcing services, knowledge management and EDI)
ØSolutions with Sun, HP and IBM products;
ØSale and integration of products and services to centralize applications;
ØSale and integration of products and services of logic security of information systems;
ØServices of design, realization and maintenance of solutions based upon Internet, Intranet e Extranet
ØSecurity e served based computing consultancy
Who we are: SBU Enterprise
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THANK YOU FOR ATTENTION
Andrea De MarchiVice General Manager & CFO
Itway Group