Introduction To Hyve December 2021
Introduction To Hyve December 2021
Where business is personal, where meetings move markets and where today’s leaders inspire tomorrow’s.
FY19 pro forma revenue* by division
* Based on pro forma FY19 revenue by region after including Shoptalk and Groceryshop (acquired December 2019) and excluding disposals and cancellations
100+ 50 - 100 1 - 50
Russia China Brazil Our Executive Directors
UK Turkey Germany
Ukraine India
UAE
USA
Significant acquisitions
Grocery shop
▪ 2,200+ attendees
Shoptalk ▪ Becomes one of our
▪ 8,000+ attendees Top 10 events by
▪ Becomes our #1 revenue
event by revenue ▪ +42 attendee NPS
▪ +50 attendee NPS
Talk to us
LinkedIn: Hyve Group plc
121 Group
Retail Meetup Instagram: @hyve_group
▪ FY21 highlights (pre-acquisition) Twitter: @hyve_group
▪ First two Meetups held post-
▪ 12,000+ 1:1 online meetings Facebook: HyveEvents
acquisition
(across nine meetings YouTube: Hyve Group plc
▪ 2,250 participants
programmes) / 3
▪ 16,000+ meetups held
▪ 3,000+ investors and 500+
corporates participated
Contents
› Our Senior Executive team p5
› Market overview p6
› Appendices p29
› From 2001, he was a co-founder and Chief Executive Officer of › Prior to joining, John held senior financial positions in the media sector,
Expomedia Group Plc and from 2009-2011, Mark was the operating including Interim CFO at Emap/Top Right Group and also Divisional CFO
partner of Advent International, a leading private equity fund at Ascential, and CFO of i2i Events Group from June 2012 to June 2017,
where he worked alongside Mark Shashoua, CEO. Prior to that, John
› One of the founding members of the Hyve group (then ITE) which was Finance Director at Precise Media from 2008 to 2010.
grew organically from 3 people to over 800 and 80 shows. He led the
floatation of the business in 1998 as CEO, and was a board director › John’s background in finance and operational transformation, as well as
until 1999. his experience in the events sector, underpins his passion for bringing
about positive change and disruption within the industry.
1,632
› New market entrants focussing on sectors which are Reed Exhibitions 465
being disrupted Messe Frankfurt 665
259
455
› The events industry’s strong growth and high profit Comexposium 143
margins have attracted significant investment from PE Clarion 449
128
entrants 2019
401
Messe Munich 153 2020
1 Source: ‘Globex, the global exhibition organising market: assessment and outlook to 2023’, Introduction to Hyve Group plc – December 2021 / 7
Executive Summary; AMR International, November 2021
Market overview
1 Source: ‘Globex, the global exhibition organising market: assessment and outlook to 2023’, Introduction to Hyve Group plc – December 2021 / 8
Executive Summary; AMR International, November 2021
Our business model
What we do
Connecting people Unmissable events
We run 63 in-person events across multiple major industries and
throughout the world. From Glee,connecting the UK’s gardening and
outdoor living sector, to Mosbuild, an international building and interiors
event in M oscow, our events are important dates in the calendars of
Whatwe offer major industries, and are where our customers come to get inspired,
one thing they all have in common is their We curate the highest-quality Optimised facilitated meetings programmes
purpose.Our customer communities rely on us content programmes to bring Our facilitated meetings programmes, managed by our
to meetthree fundamental needs: the latest trends and thought community development teams, help our customers to curate
leadership to industries. their own agendas ahead of our in-person events. This means
Increasingly, we use our they arrive with a clear plan of who they will meet and when,
influence to educate, empower leaving them with more time to learn and discover. Read more
and drive positive change about the process, and the technology which powers this
across the industries we work solution.
with on a global scale. At our
events, today’s leaders inspire Network Online networking
Trade tomorrow’s.
We connect entire industry
With increased demand from our customers to
stay connected year-round, online networking
ecosystems using multiple is an important part of our model. Our online
Through our deep industry knowledge
formats, including in-person programmes, such as Shoptalk Meetup for
and omnichannel solutions, we bring
events, facilitated meeting Women, Learnit Live and 121Mining
together the best vendors and most
programmes and online Investment Online,support our in-person
relevant buyers. We facilitate
experiences. Our decades of events by offering additional opportunities for
commerce and enable thousands of
experience put us at the heart our communities to connect, through multiple
new business deals every month. Our
of the industries, and, through formats and at multiple times per year.
platforms are playing a particularly
our platforms, business
important role as industries rebuild
becomes personal, and our
following the COVID-19 pandemic.
customers meet the people who
matter.
Introduction to Hyve Group plc – June 2021 / 10
Introduction to Hyve Group plc – December 2021 / 10
Our business model
Usually, visitors attend for free (with a few exceptions). Some events
benefit from sponsorship revenue. ESTABLISHED DATA: COMMITMENT MATCHMAKING OMNICHANNEL
POSITION: By getting to TO QUALITY: PRODUCT: APPROACH:
With three know our We are absolutely We are developing Whereas pure
Our digital and tech-enabled revenue streams are increasing as we roll attendees, we
decades of committed to solutions using a digital platform
out our omnichannel strategy. experience at the are able to build delivering quality mixture of in- providers are able
heart of major detailed profiles products that house and third- to offer part of the
industries, we of our visitors and provide enormous party technology experience, and
3% have become their reasons for value for our to create the best other events
7% Exhibitor fees
experts in attending our customers. Our possible user companies can
8% understanding the events. And this is Transformation experience provide the in-
Sales of technical services current trends, highly valuable and Growth for our customers, person experience,
challenges and data for our programme such as our we are able to cater
needs of our customers. instilled a best facilitated to our customers
16% Digital and tech-enabled
customer practice culture meetings platform. in multiple ways,
communities. across our global which helps us to
66% Sponsorship This means we business, and our build a single view
run the leading portfolio now of their needs and
event in those comprises only the positions us at the
Delegate sales and other industries. most highly heart of their
regarded events. industries.
E&SE
106
104
FY19 Pro forma Revenue3
Global
Communities
269 Product-led acquisitions
Russia
events
119
118
Acquired 27%
events
Our business model
In person Introduce facilitated meetings to enable trade on site market-leading content and
Customer ROI and ROT materially improved thought leadership
1 2 3 4 5
Attract
Identify key Tech-enabled Algorithmic
buyer/vendor Marketing
buyers matching driven meetings
participants
› Deep customer research to › Develop tailored proposition › Build custom messaging for › Digital platform facilitates › Algorithm optimises meeting
create taxonomy of buyer and to attract in demand buyers existing show buyer audience matching based on key schedule based on event-
brand relationships criteria specific criteria, updating to
› Proposition may include › Develop multi-channel reflect changes in
› Identify in demand buyer travel reimbursement or outbound marketing plan to › Buyers and vendors can only participation
personas to match with other support to ensure key bring in new target buyers, meet when both parties
brands, establish programme buyer attendance augmenting existing show agree to a match, creating › Automated meeting requests
eligibility criteria and build audience highly qualified sent to participants to ensure
marketing personas conversations high attendance rate
› Target specific buyer
› Hire community managers, organisations that vendors › Dedicated meeting success
sales and operational support would like to meet and team provide concierge-style
proactively source service to maximise meeting
success
o “This was probably the best virtual conference I have attended in the
last few months. Very well done. Small group Tabletalks were
extremely productive and informative. I cannot wait to attend this in
person in 2022.”
o “Loved the speed date like format as I really think it made best use of
everyone’s time. We also loved all the Groceryshop info leading up to
the event.”
Strategic Pillars
Objectives
We are experts in connecting people and Our business is built on human We must also address our own carbon We recognize that we have a unique
forming communities. We will use those connections. We will inspire people to be footprint. We will push boundaries in the opportunity and a responsibility to influence
skills to support communities both local to their full selves, in a safe and inclusive events industry and aspire for customers to change. We will use our platforms to move
the events we run, and to champion environment, while developing talent for recognise the commitment of Hyve events to sustainable development forward across
enterprise & innovation. the next generation. sustainability major industries.
Actions
› Giving back to the local communities we › Employee training and development › Measuring and reducing our waste › Global education and training
work within › Measuring and addressing our emissions
› Equality, diversity and inclusion › Environmental awareness
› Helping everyone, irrespective of their › Creating sustainable supply chain
› Fair and decent work › Customer sustainability awareness
background, achieve their potential
› Forward bookings for FY22 events give us confidence going into next year Dividend - -
Results from continuing operations, i.e. excludes the results of the disposed Central Asia business reported as discontinued operations Introduction to Hyve Group plc – December 2021 / 19
FY21 results
30 33 31
FY19 1 FY19 H1 29
29
FY19 H2
FY20 FY20 H1 12 12
2 FY20 H2
FY21 FY21 H1
FY21 H2
FY19 H1 FY19 H2 FY20 H1 FY20 H2 FY21 H1 FY21 H2
Revenue
£101m £100m
£90m
FY19 1 FY19 H1
FY20 FY19 H2 £45m
FY20 H1
FY21 FY20 H2 £10m
£9m
FY21 H1
FY21 H2
FY19 H1 FY19 H2 FY20 H1 FY20 H2 FY21 H1 FY21 H2
1 FY19 is presented on a pro forma basis, i.e. adjusted to reflect the current in-person event portfolio
2 Excludes the two Retail Meetup events that took place in FY21 Introduction to Hyve Group plc – December 2021 / 20
FY21 results
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Event delivered
Introduction to Hyve Group plc – December 2021 / 21
Event cancelled
FY21 results
Revenue bridge
Impact of COVID-19 on the
event schedule:
£(30.8m)
£m
RUB (0.6)
UAH (0.3)
Other (0.2)
£(67.7m)
£(79.9m)
£(25.9m)
£(9.6m)
£65.0m £(4.9m)
£(1.4m)
£(35.4m)
FY21
Liquidity
£130.1m
Bank covenants waived until June 2023, replaced by a £40m minimum liquidity covenant until March 2023
LFL customer spend1 Visitor density2 NPS Forward bookings Domestic exhibitors4
1 Customer spend relative to the previous event edition across all customers who participated in both event editions. FY22 events refers to contracted sales to date
2 Number of visitors per square metre of event space sold, compared to the visitor density across the same events from their last pre-COVID editions
3 At the same stage last year Introduction to Hyve Group plc – December 2021 / 25
4 Domestic exhibitor contracted sales as a percentage of pre-COVID total revenues. FY22 all events refers to contracted sales to date, with many months still to go
£83m
£76m FY22 Events
£70m £108m
£67m
£64m £59m
£59m
£46m
£40m
£46m £34m
£28m
£24m
£34m
£30m £16m
Domestic International
£23m £10m
£8m £68m £40m
£6m £36m £36m £36m £37m £38m £38m
£35m
£29m
£21m £24m
£17m
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov
In summary
£22.0m
ReceivedReceived
in FY20
in FY20
£10.6m £30.7m
Confirmed in
£34.3m
Claims FY22 Received in
FY21
confirmed
Received
in
in FY21
FY21
Potential receipts
Received in FY21
1 Consists of two policies for £25m (fully paid out) and £37m (partially paid out to date) Introduction to Hyve Group plc – December 2021 / 30
Appendices
H1 £8m H2 £9m
Lower than
Operating cash cost3 (7.5) As communicated (8.5) (8.0) expected (9.0) (11.0)
at HY
at HY
Cash flow
positive
Net operating cash flows (7.0) (5.0) (2.5) 0.0 1.0 earlier than
indicated
previously
Operating cash flows incl. insurance 1.0 (2.0) 7.5 1.0 4.5
Waiver conditions
› Replaces existing financial covenants with a minimum liquidity covenant: combined cash and undrawn facilities must be at least £40m, tested monthly
› Existing financial covenants will still be reported every quarter but not tested
› Interest margin remains at 3.40% but original ratchet levels still apply based on above financial covenant reporting every quarter
› 50% of insurance proceeds to be applied as a prepayment of any upcoming term loan repayments
› Certain acquisition, disposal and dividend restrictions remain in place
Normalisation
› The Group may at any time in its sole discretion nominate to revert to the original terms by reinstating the existing financial covenant testing provided the original financial covenants can be met
› All waiver conditions will be cancelled once normalisation occurs
Ed Tech
2022 Trial 2022
Commodities
121 Group 121 Group