Azerion SPAC Presentation Deck
Development of Azerion revenues - organic and by M&A vintage
Vintage
2020 Acquisitions
2019 Acquisitions
2018 Acquisitions
2017 Base
Description
azerion
Objective: Platform consolidation
Objective: Restructuring and platform build-out
~84% of revenues acquired come from
Technology and Sales businesses
Objective: Restructuring and platform build-out
~95% of revenues acquired come from
Improve Digital and Sellbranch(5)
Business perimeter as of 31 December 2017
Strong CAGR '18-'20 of 47%
■ Base business
127
93
34
Total reported revenues (1), (2),(3) (in €m)
2018
■2018 M&A ■2019 M&A ■2020 M&A
173
39
87
47
2019
~18%+ organic
growth (4)
195
12
36
73
74
2020
1
I
I
230+
1
T
I
1
1
1
I
I
I
I
1
1
2021e organic
'18-'20
CAGR
-24%
~47%
organic
With underlying 2017 base expanding organically at a CAGR of ~47%, 2018-2020 were years of (i) organic growth and (ii) building the platform via acquiring,
restructuring & integrating mostly Technology & Sales companies, while increasing adjusted EBITDA margin() and reducing unprofitable revenues.
In 2021, the resulting platform as per its end of 2020 perimeter should deliver growth of at least 18% without taking into account any 2021 M&A
(1) 2018 revenues on Dutch GAAP basis, 2019 and 2020 on IFRS basis. (2) 2021e based on management estimate, does not include 2021 acquisitions. (3) The 2020 revenue pro forma for the full year impact of
acquisitions completed in 2020 amounts to approximately €203m, resulting in an expected LFL growth of at least ~13% to 2021e, i.e., before 2021 acquisitions. (4) Defined as growth in revenues 2021e excluding
acquisitions completed in 2021, as compared to 2020 reported revenues. (5) Based on reported financials under Dutch GAAP, see also page 40. (6) See slide 44.
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