Azerion SPAC Presentation Deck slide image

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. 41
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