Smart finance for your business - Stefan Kempf CEO and founder - aifinyo
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smart finance for your business Stefan Kempf CEO and founder
Mission
„We want to enable entrepreneurs to focus
on their business and be more successful by
supporting with fast, smooth and intelligent
financial solutions.”
aifinyo at a glance
digital finance plattform transaction volume in EUR m milestones
350
2012 starting with factoring for SME
300
2014 launch of factoring for freelancer
250 2015 initiating finetrading
200
2015 entering leasing market
2016 adding debt collection service
150
2017 small ticket finetrading (e-com)
100 2018 stock listing m:access
50 2019 rebranding to aifinyo
2020 merger with Decimo and Pagido
-
2012 2014 2016 2018 2020
market opportunity driven by megatrends
Technology
Retreat of banks
innovation
4m
Entrepreneurs prefer to
focus on business rather
than finance
Data, integration, Mindset and
AI expectation
revenue potential commercial retail clients Germany*
well positioned in a consolidating market
• currently high pressure on market consolidation
• aifinyo is well positioned, due to product range,
banks size and tech focus
multiple-product
saving banks • successful merger with Decimo + Pagido
provider
(~1.700)
• highly fragmented market, huge number of
competitors
alternative • banks lack technology and focus, regulatory
1-product fintechs
provider
financing burden
(~800)
(~1.000) • alternative financing competitors lack product
range and small ticket expertise
• fintechs are mainly too small for platform cost
and lack product range
low tech tech challenger
“aifinyo will define the new category smart finance
in B2B by combining finance, payment and processing
in a highly lucrative market.”value creation for growth companies
In finance, aifinyo creates value by matching the needs of its clients with the funding market.
funding: banks clients: growth companies
Slow decision processes Need small amounts
Ø funding cost ~2%
Ø return ~23%*
Prefer big companies due to rating Fast money preferred due to lack of planning
Focus on big tickets due to high processing cost Used to instant response from retail market
Low level of digitalization Open minded for digital solutions
aifinyo credit decision and processing platform
credit engine with ability
fast due to digital integration cost efficient for small tickets risk transformation
to rate small tickets
*as of 31.12.2020 preliminary / unauditedfocus on short term maturities
average duration - 5 10 15 20 25 30 35
in month
• aifinyo’ s portfolio consists largely of short term maturities
0,83 • 80% of the portfolio with remaining lifetime below 2 month
trade receivables
0,70
• aifinyo actively decreased long term exposure during 2020
• Essentially no interest rate risk
1,60
trade finance
2,03
due to short term portfolio duration aifinyo is able to
lease receivables 2019 32,40
quickly adopt to changing market environment
(covid-19 – one time risk expenses in Q2-20
Corona adjusted risk standards led to significant risk expense improvement in the last quarters.
risk expenses as % of adj. revenues risk expenses as % of adj. revenues
50% 140%
42% 116%
120%
40%
100%
30% 80%
20% covid-19 60%
40% 20% 26%
10% 5% 6% 11%
2% 3% 2% 20%
0% 0%
2015 2016 2017 2018 2019 2020 Q1-20 Q2-20 Q3-20 Q4-20
• Risk costs historically fluctuated due to lower diversification in • Due to short term adjustment in portfolio and credit selection
early years and increased mainly because of shift towards process risk levels came significantly down form Q2 to Q4.
finetrading and freelancer factoring, with higher provisions for
expected defaults. • Risk exposure has been significantly reduced by decrease of
portfolio duration, exit of corona affected industries and focus on
• Risk cost are historically a minor part of adj. revenues (~ 5%) but industries like e-commerce, technology and health care.
increased significantly during covid-19.“aifinyo has a rigorous risk management
with long term experience.”sound equity ratio
25%
20% • aifinyo managed to increase equity ratio over last years
20% to 13% tier 1 and 20% tier 2
17%
• Strong equity ratio provides for favourable debt funding
15% 14% 14%
13% and sufficient risk buffer
12%
10% 9% • Loss in 2020 was entirely offset by capital increases
8%
6% • Due to reduction in balance sheet total equity ratio even
5%
5% increased 2020
• aifinyo considers further capital increases to keep up the
0% equity ratio taking into account expected growth and
2016 2017 2018 2019 2020 software development expenses
tier 1 ratio tier 2 ratio
*based on unaudited, preliminary results for 2020quarterly financial figures 2020/21*
In quick response to corona impact led to rebound of turnover and revenues and significant improvement of EBT.
transaction volume turnover adj. revenues** EBT
in EUR m in EUR m in EUR m In K EUR
Q1/20 Q2/20 Q3/20 Q4/20 Q1/21
83
2,2
10 10
9 1,9 1,9
62 1,8 -304 -204
61 58
56 1,6 -422
-549
6 6
Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 -2.187
• Due to corona less transaction • Loss in revenues mainly due • De-boarding of corona • EBT suffered especially due to
volume especially since Q2 to corona adjusted risk affected clients led to reduced corona related unexpected
measures adj. revenues in Q2 and Q3 losses in Q2 and one time
• Speed of slowdown merger integration cost of
significantly decreased and • Despite reduced transaction • Strong adj. revenues Decimo
rebound in Q4 with +11% volume turnover already back improvement in Q4 and Q1
on pre corona level • Significant EBT improvement
after Q2
*based on preliminary, unaudited results
*net of cost for purchased goods and depreciation for leased assets related to customer lending business5y-key (annual) financial figures
transaction volume turnover adj. revenues* EBT
in EUR m in EUR m in EUR m In K EUR
320 289
44 8,7 44
-208 -917
263 7,5
248 6,8 2016 2017 2018 2019 2020
32
29
185
4,8
124 3,4
14
-3.461
7
2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020
aifinyo Decimo total aifinyo Decimo total aifinyo Decimo total aifinyo Decimo total
• Strong growth in transaction • Strong growth as well in • Adj. revenues is most • Despite high IT/R&D
(financing) volume turnover important internal financial spending's aifinyo was always
KPI profitable
• Dominated by factoring, • Dominated by finetrading
followed by finetrading and (gross accounted for in • Revenues are adjusted for • Unexpected losses (~2.5m)
leasing turnover, vs. e.g. factoring cost for purchased goods and and Decimo integration cost
only accounts for the fee) leasing depreciation (~1m) main driver of negative
EBT 2020“aifinyo achieved strong long-term (profitable) growth,
which was recently affected by corona.”covid-19 – long term benefits expected
decrease in competition due to reduction in number of alternative financing will profit
banks expected (German factoring market)
50.000 300
120
45.000 number of clients
100 250
40.000
transaction volume in bn €
80 35.000
200
last 30.000
60 last
recession 25.000 150
40 20.000
recession
100
15.000
20
10.000
50
0 5.000
0 0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
expected, that banks will restrict lending
(change in size of corporate credit portfolio)
competition
8%
6%
4% need for consolidation
2%
last
0%
recession demand for alternative financing
-2%
-4%
-6%
-8%
need for unique digital solutions
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019“Post corona will lead to less active players in the market while demand for smart finance solutions will increase.”
share price with upside potential
share price in EUR key facts conferences
number of shares: 3,446,819 MKK/München 03.-04.05.2021
40
market cap: ~ EUR 80 m Börse München 13.10.2021
35
ISIN: DE000A2G8XP9 Eigenkapitalforum 22.-24.11.2021
30
ticker: ebe MKK/München 07.-08.12.2021
25
20 segment: m:access
research
15 indices: m:access All-Share
10 Listing: Frankfurt, Munich, Warburg (08/2020) buy 36.00 EUR
5 Xetra SMC (04/2021) buy 45.80 EUR
0
Dez. 18 Jun. 19 Dez. 19 Jun. 20 Dez. 20 designated sponsor
Warburgstable shareholder structure
shareholder structure shows
trading volume intended to be increased
strong management commitment
Employees
1% Stefan Kempf • Management and founding partners are highly
(Management) committed with a high stake in ownership
Other
24% structure
Investors
(complimentary management team
Finance Tech Sales
Stefan Kempf Prof. Dr. Roland Fassauer Matthias Bommer
Co-partner and founder of aifinyo. Joining aifinyo from Decimo Co-partner and founder of aifinyo.
M.Sc. in Banking and Finance Serial Entrepreneur (INTERSHOP, Masters degree in finance and
as well as a Law Master LL.M. from Pixaco, Mobizcorp), Institute for controlling from the University of
Frankfurt School of Finance. Applied Informatics (InfAI) at the Applied Sciences in Mainz.
University of Leipzig.
Before founding aifinyo, working in Before founding aifinyo, managing
capital markets for a major bank and Expert in machine Learning and director and executive board member
in the German leasing and trade decision Systems. for several German factoring companies.
receivables industry.steps for further growth
building the leading B2B
ecosystem for finance,
payment and processing teaming with
partners
expand product
portfolio
consolidation
brand
opportunitykey takeaways
aifinyo…
• is a fintech pure play on a profitable growth track.
• operates in an billion euro market (only in
Germany).
• is well positioned – due to product range, size and
tech focus – in a consolidating market.
• has sharpened the business model during
corona.
• sees significant revenues and earnings growths in
the coming years with existing and new products.
• works to increase the attractiveness of its share
for investors.disclaimer This presentation contains forward-looking statements. Forward-looking statements are statements that are neither facts nor a description of past events; they comprise statements relating to our assumptions and expectations. Each statement made in this presentation that reflects our intentions, assumptions, expectations or forecasts as well as the underlying presumptions is a forward- looking statement. These statements are based on planning figures, estimates and forecasts currently available to the Board of Directors of aifinyo AG. Accordingly, forward-looking statements refer exclusively to planning data, estimates and forecasts at the time at which they are made. We assume no responsibility to further develop or modify such statements in the event of fresh information being available or future events occurring. By their very nature, forward-looking statements imply risks and uncertainty factors. A large number of key factors can contribute towards actual events varying quite substantially from forward-looking statements. Such factors include the condition of the financial markets and the regional focal points of our investment activities.
contact
aifinyo AG
Tiergartenstraße 8
01219 Dresden
T: 0351 8969 3310
F: 0351 8969 3315
E-Mail: ir@aifinyo.de
Web: www.aifinyo.deYou can also read
