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UNLOCKING VALUEIN THE WORLD OF CONNECTED COMMERCE
BASWARE'S AGM 2015
BASWARE OYJ:N VARSINAINEN YHTIÖKOKOUS
13.2.2015
BASWARE’S ANNUAL GENERAL MEETING
on February 13, 2015
UNLOCKING VALUEIN THE WORLD OF CONNECTED COMMERCE
BASWARE'S AGM 2015
TOIMITUSJOHTAJAN KATSAUS
CEO’S REVIEW
OUR HISTORY
Founded 1985
Publicly listed 2000
Ranked constantly among
leaders in P2P and e-
invoicing vendors by
leading independent
research companies
Offices in Europe, the US,
and Asia-Pacific
CORPORATE
PERFORMANCE
BASWARE COMMERCE NETWORK
Net sales > €127.7m
in 2014
Millions of business users
in 1 000 000 organizations
in > 100 countries
> 80m e-invoices/POS
$500b total annual
spend across network
> 1 million active buyers
and suppliers
BASWARE TODAYScale, performance and established leadership credentials in e-invoicing
and purchase to pay solutions, on an international scale.
BASWARE'S AGM 2015
• Network Services grew throughout 2014
• Software sales halt declined during H2
• Share of recurring revenue and
international net sales & international
share of net sales grew
• New Basware Financing Services
business announced
• Directed share issue to international
institutional investors
Over 78 million
transactions
processed via
Basware Commerce
Network in 2014,
up +30.0 %
BASWARE'S AGM 2015
KEY EVENTS IN 2014Network Services business grew well and software sales
developed favorably.
EUR thousand Q4 2014 Q4 2013 YoY 2014 2013 YoY
Net sales 34 664 33 049 4.9% 127 674 123 349 3.5%
Material and services -3 559 -3 265 9.0% -12 796 -11 761 8.8%
Personnel expenses -20 803 -19 327 7.6% -77 779 -76 919 1.1%
Depreciation and amortization -1 735 -1 748 -0.7% -7 029 -7 052 -0.3%
Other operating expenses -6 865 -6 751 1.7% -26 004 -26 200 -0.7%
Operating profit (EBIT) 1 701 2 131 -20.2% 4 325 3 331 29.8%
Net Profit 1 454 2 255 -35.5% 2 959 2 605 13.6%
EPS, EUR (diluted) 0.11 0.18 -39.2% 0.22 0.20 11.4%
Personnel 1 498 1 478 1.4% 1 466 1 485 -1.3%
2,1 0,3 1,2 1,2 1,7
33,0 31,0 31,8
30,2
34,7
0,0
5,0
10,0
15,0
20,0
25,0
30,0
35,0
40,0
Q4/2013 Q1/2014 Q2/2014 Q3/2014 Q4/2014
Operating profit by quarter Net sales by quarter
BASWARE GROUP
Note: Personnel expenses and other OPEX=Fixed costs
11,8 13,5 12,38,3 3,3 4,3
92,7103,1 107,8
113,7123,3 127,7
0,0
20,0
40,0
60,0
80,0
100,0
120,0
140,0
2009 2010 2011 2012 2013 2014
Operating profit (EUR million) Net sales (EUR million)
BASWARE'S AGM 2015
0,02,04,06,08,0
10,012,014,016,018,020,022,024,0
Q1 Q2 Q3 Q4
2010 2011 2012 2013 2014Million
transactions
The transaction volume
continued to grow
during the last quarter,
amounting to 21.8
million, growth of
25.6 %
In 2014, more than 78
million transactions
were processed via
Basware Commerce
Network, a growth of
30.0 %
BASWARE'S AGM 2015
GROWTH OF TRANSACTION VOLUMES
2010-2014
EUR thousand
The share of
recurring revenue
of net sales
increased to 67.0 %
(63.8 %) in 2014
35,0 %
40,0 %
45,0 %
50,0 %
55,0 %
60,0 %
65,0 %
70,0 %
0
5 000
10 000
15 000
20 000
25 000
30 000
35 000
40 000
Q1/1
0
Q2/1
0
Q3/1
0
Q4/1
0
Q1/1
1
Q2/1
1
Q3/1
1
Q4/1
1
Q1/1
2
Q2/1
2
Q3/1
2
Q4/1
2
Q1/1
3
Q2/1
3
Q3/1
3
Q4/1
3
Q1/1
4
Q2/1
4
Q3/1
4
Q4/1
4
Net sales
Share of recurring
revenue, rolling 4
quarters average
BASWARE'S AGM 2015
SHARE OF RECURRING REVENUE,
ROLLING 12 MONTHS AVERAGE
SAAS VERSUS LICENSE SALES DYNAMICS
0 %
10 %
20 %
30 %
40 %
50 %
60 %
70 %
80 %
90 %
100 %
2007 2008 2009 2010 2011 2012 2013 2014
License salesSaaS
-12%
-10%
-8%
-6%
-4%
-2%
0%
2%
2011 2012 2013 2014
Combined SaaS & license sales y-o-y
BASWARE'S AGM 2015
STRATEGIC FOCUS AREAS FOR 2015-2018
The largest business commerce network
Strengthen our market presence
Maximize transactions Win with Alusta
Create customers for life
Unleash financing
services
BASWARE'S AGM 2015
PRIORITIES AND OBJECTIVES
FOR OUR BUSINESSES IN 2015
• Drive Alusta to new &
current customers
• Shorten go-live times
• Optimize consulting
• Improve scalability
• Reach senders &
SMEs
• Network consolidation
• Successful first
customers
• Build sales capability
Solution
Services
Network
Services
Financing
Services
• High profitability
• Growing revenue
• Accelerated revenue
growth
• Improved profitability
• First revenue
BASWARE'S AGM 2015
INTRODUCINGFINANCING SERVICES
Supplier Buyer
Basware
Commerce
Network
PaymentDiscount
Timing Funding
Financial Engine
Pay
Dynamic
Discount
Factoring
Supplier
Discount
First products
launched
Next development
batch underway
World class
partnerships
being formed
1
2
3
2 1
3
KEY DRIVERS WITHIN
THE E-INVOICING INDUSTRY
1. E-invoicing is becoming more
commonplace & benefits
realized more widely
2. Continued push from governments
to adopt e-invoicing
3. E-commerce, open networks &
interoperability
4. Consolidation within the industry
5. Cash flow continues to be a
concern for businesses of all sizes
6. Companies’ interest in new online,
real-time payment alternatives
BASWARE'S AGM 2015
BASWARE COMMERCE NETWORK
SOLUTIONS FOR A CONNECTED WORLD
E-payments
Purchase-to-pay
Financing Services
Analytics
AP Automation
Travel & Expense
A best-in-class Purchase to Pay portfolio - helping businesses of all sizes
buy better, sell better and pay and be paid in new ways.
BASWARE'S AGM 2015
E-procurementE-invoicing
BASWARE MOVING FORWARDA unique platform for growth – open network, e-invoicing and purchase to pay solutions, value
added financing services, new partnerships and global expertise.
BASWARE'S AGM 2015
• Strong growth in Network Services by developing & automating the connection of buyers and suppliers to the e-invoicing service, by utilizing digital marketing and sales channels more extensively, and through acquisitions
• Sales of Alusta are expected to have a positive effect on software net sales and professional services.
• Fixed costs are expected to develop moderately. The company will invest more extensively in sales and marketing as well as research and development of new solutions and services in particular.
• Active analysis of acquisition targets especially in the e-invoicing market in Europe and in the U.S. will continue.
BASWARE'S AGM 2015
BASWARE OUTLOOK 2015Basware expects its net sales and operating profit (EBIT) for 2015
to grow compared to 2014:
FOR INVESTORS
www.basware.com
www.twitter.com/basware
www.linkedin.com/company/basware
www.facebook.com/BaswareCorporation
www.basware.fi/vuosikertomus
www.basware.fi/sijoittajat
www.basware.com/annualreport
www.basware.com/investors
SIJOITTAJILLE
BASWARE'S AGM 2015