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Introduction To Hyve December 2021

This document provides an introduction to Hyve Group plc, a next-generation events business that connects global industry communities through in-person events, online platforms, and facilitated meetings. It highlights key FY21 financial results including reduced revenue and profit due to the pandemic, but an increase in forward bookings and exhibitor/visitor satisfaction scores. It also outlines Hyve's acquisition strategy, top 10 events, senior leadership team, and positive indicators that the events industry is recovering from the pandemic.
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0% found this document useful (0 votes)
160 views36 pages

Introduction To Hyve December 2021

This document provides an introduction to Hyve Group plc, a next-generation events business that connects global industry communities through in-person events, online platforms, and facilitated meetings. It highlights key FY21 financial results including reduced revenue and profit due to the pandemic, but an increase in forward bookings and exhibitor/visitor satisfaction scores. It also outlines Hyve's acquisition strategy, top 10 events, senior leadership team, and positive indicators that the events industry is recovering from the pandemic.
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 36

An introduction to

Hyve Group plc


December 2021
FY21 financial highlights from continuing operations

We are Hyve Revenue


FY19: £200.9m Headline
Forward
bookings Visitor NPS
FY19: £152m Exhibitor NPS FY20: +7
When people come together, powerful things happen. Hyve Group plc is the next-generation events FY20: £99.4m profit before tax
FY20: £66m FY19: -8 FY21: +11
FY21: £55.2m FY19: £45.4m
business powering global industry communities and creating platforms for progress. We connect whole FY21 £108m FY20: -3
FY20: £(18.1m)
industry ecosystems through our unmissable in-person events, online platforms and hyper-productive FY21: +27
FY21: £20.8m
facilitated meetings.
* Based on stats for core TAG in-person events that ran in both FY19 and FY20
By uniting vibrant industry communities through our omnichannel platforms, we aspire to shape the future ** Source: UFI & Explori, Global Exhibitor Insights, 2019/2020
*** Source: UFI & Explori, Global Visitor Insights, 2018/19
for the industries we serve.

Where business is personal, where meetings move markets and where today’s leaders inspire tomorrow’s.
FY19 pro forma revenue* by division

Global Communities 58%


63 in 13 800 in 10 FY
in-person Russia 27%
countries colleagues countries
events
19 E/S Europe 8%
pro forma
Asia 7%

* 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

Mark Shashoua John Gulliver


Chief ExecutiveOfficer Chief Finance and / 2
Operations Officer
Our Top 10 events*
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

* Based on pro forma FY19 revenue

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

› Our business model p9

› FY21 results p18

› Positive indicators of recovery p24

› Appendices p29

Introduction to Hyve Group plc – December 2021 / 4


Our Senior Executive Team
Mark Shashoua – Chief Executive Officer John Gulliver – Chief Finance and Operations Officer
› Appointed CEO in September 2016 › Appointed as the Company’s COO in October
› Previously CEO of i2i Events Group, (events 2017. With effect from 1 October 2020, took
arm of Ascential) from 2011, led the up the newly-formed combined role of CFO
professionalisation and diversification of and COO.
the business, turning it from double-digit › He oversaw the rollout of best practice as part
CAGR decline to one of consistent organic of the TAG programme, John also has
CAGR growth responsibility for implementing and
› Second-generation and prominent figure in the international events maintaining our best practice operating model
industry across our global network of exhibitions.

› 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.

Introduction to Hyve Group plc – December 2021 / 5


Market overview

Introduction to Hyve Group plc – December 2021 / 6


Market overview

Overview of the events industry


Competitive landscape Top 10 international organisers by organising
revenues, 2019 and 2020 ($m)1
› M&A consolidation in traditional event organisers
continues, despite COVID-19 Informa 673
1,859

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

› Online business communities and DIY meet-up Messe Dusseldorf 373


143
platforms challenging the traditional model
283
Hyve 135
› Impact of new technologies provide opportunities to GL Events 264
99
increase engagement, create better products and drive
251
better ROI and ROT for customers Deutsche Messe 93

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

Global exhibition market forecast


› Recovery is expected to be gradual. AMR forecasts
that by 2023 the global market will recover to c. 95% Overall market forecast 2018-2023, ($b)1
of its pre-COVID 2019 size
-4%

› The speed of recovery is expected to vary -23%


considerably by event, in particular based on the -49%
geographic spread of the exhibitor base (i.e., what -69%
proportion of exhibitors and visitors typically come
from overseas) 28.1 28.9 27.7
22.3

› AMR’s predicted level of recovery by 2023 broadly 14.8


9.1
correlates with when physical exhibitions were
allowed to restart post-COVID, based on an
assumption that each market requires 2-3 years to 2018 2019 2020 2021F 2022F 2023F
recover to pre-COVID levels post-restrictions lifting

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

Introduction to Hyve Group plc – December 2021 / 9


Our
Our business
businessmodel
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,

While each of our products is highly tailored to


the industriesand geographieswe work in,the
Learn expand their business contacts and do business.

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

Revenue streams managed the Hyve way


Our revenue is generated through multiple streams We believe that Hyve is in a strong position to compete, given our
ability to capitalise on several sustainable, competitive advantages
66% of our revenue is generated from exhibitors, with each exhibitor
paying for floor space at an event, and many taking technical services
(such as stand construction and furniture).

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.

Introduction to Hyve Group plc – December 2021 / 11


Our business model

Hyve has a strong portfolio of market-leading events


In-person Online / Virtual
FY17 Revenue
May 2017 FY19 Pro forma Global
Communities
No. of in-person events 269 63 77% 12%

Revenue £134m2 £201m3 50%


Acquired Russia
47% 16% Asia
Revenue per event £0.5m £3.2m 540%
Retail Meetup
14%
Manage the portfolio Dec 2020
Central
11% Asia

E&SE
106
104
FY19 Pro forma Revenue3
Global
Communities
269 Product-led acquisitions
Russia
events
119
118
Acquired 27%

1 121 Group 58%


(incl. 15% US)
18 8%
63 Nov 2021 E&SE
events 7%

May 2017 1 Closed Divested Acquired Launch Dec 2021


Asia

1 Launch of TAG, May 2017


2 FY16 reported revenue Introduction to Hyve Group plc – December 2021 / 12
3 FY19 pro forma revenue based on the current portfolio of events, i.e. including acquisitions launches and excluding disposals and discontinued

events
Our business model

Creating an omnichannel approach

Fundamental Trade Network Learn


customer needs

Continue providing access to


Omnichannel strategy

In person Introduce facilitated meetings to enable trade on site market-leading content and
Customer ROI and ROT materially improved thought leadership

Deliver market-leading content


Online Year-round online meetings for entire industry ecosystems online through webinars and virtual
conferences

Monetisation and engagement Engagement

Introduction to Hyve Group plc – December 2021 / 13


Our business model

Bringing omnichannel to life – facilitated meetings at in-person events

› Shoptalk has developed an industry-leading


hosted meetings offering, underpinned by highly
automated technology

› In 2019, 8,000 meetings took place as 450


sponsors met with 1,500 individuals from 500
retailers

› Now trialled successfully at Autumn Fair with


plans in place to roll out at Spring Fair and Bett in
2022

› Increases return on investment and time for


customers and drives market share

Introduction to Hyve Group plc – December 2021 / 14


Our business model

Facilitated meetings – connecting businesses with the right customers


Steps required to create a facilitated meetings programme

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

Tech enables this full process, driving efficiency

Introduction to Hyve Group plc – December 2021 / 15


Our business model

Bringing omnichannel to life – online meetings programmes

› Groceryshop Spring Meetup took place in March 2021

› 1,288 industry professional connected (that’s over 70% of


the in-person event

› All meetings were double opt-in, leading to attendance


rates of more than 90%

› 89% of Meetups satisfied the customers:

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.”

Introduction to Hyve Group plc – December 2021 / 16


Our business model

ESG strategy – creating a platform for progress


We want to redefine sustainability within our industry and use our unique influence to educate, empower and drive positive change across the global industries we work with.

Strategic Pillars

Empowering Broadening Addressing Inspiring


communities horizons impact change

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

Safety, wellbeing, ethics and security

Introduction to Hyve Group plc – December 2021 / 17


FY21 results
12 months to 30 September 2021

Introduction to Hyve Group plc – December 2021 / 18


FY21 results

FY21 financial headlines


› Financial performance recovering particularly in the second half
FY21 FY20
› Significant uplift in trading in the final quarter as events resume in the UK and US

› Return to profitability as a result of £65m insurance proceeds Revenue £55.2m £99.4m

› Strengthened balance sheet and robust liquidity position


Headline PBT £20.8m £(18.1m)
› Adjusted net debt of £80m; ahead of both previously communicated scenarios

› Available liquidity of £130m


Insurance proceeds £65.0m £22.0m
› Covenant waivers secured post-YE up to and including March 2023

Adjusted net debt £79.9m £67.7m


› Positive performance indicators bring optimism for the future
› Strong domestic attendance and customers spending more than pre-pandemic
Headline diluted EPS 7.6p (12.7)p
› Increasing cash collections resulting in positive operating cash flow post-YE

› 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

FY20 event schedule significantly impacted by COVID-19


Number of in-person events

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

Top 10 events returning including Groceryshop for the first time


H1’21 H2’21

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)

Introduction to Hyve Group plc – December 2021 / 22


FY21 results

Adjusted net debt bridge


Cash flow Acquisitions & Capex & lease
Sep 2020 from operations Insurance proceeds disposals Interest & tax payments Net other Sep 2021

£(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

Introduction to Hyve Group plc – December 2021 / 23


Positive indicators of
recovery

Introduction to Hyve Group plc – December 2021 / 24


Positive indicators of recovery

Resilience of market-leading portfolio


› Domestic business travel resumed, but scale of events impacted by limited international travel
› Exhibitors spending more and increased visitor density due to pent up demand for in-person events – a testament to our high
quality portfolio
› High levels of satisfaction of both exhibitors and visitors resulting in strong forward bookings
› COVID-19 accelerated trends we already identified and has reaffirmed our strategy of focusing on market-leading events putting us
in a strong position to grow the business through the recovery and beyond

LFL customer spend1 Visitor density2 NPS Forward bookings Domestic exhibitors4

FY21 Visitor: +11 FY22 Events:


FY22 completed
FY21 Events: +7% FY21 Events: (FY20: +7) £108m
events: >90%
FY22 Events: +15% +11% FY21 Exhibitor: +27 FY21 Events3:
FY22 all events: >50%
(FY20: -3) £66m

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

for many events in the portfolio.


Positive indicators of recovery

There are a number of positive indicators to recovery


Domestic Revenues1 International revenues LFL customer spend2

H1 FY21 H1 FY21 +15%


c. 50%1 c. 20%1
FY21
H2 FY21 H2 FY21 +7% +13%
c. 70%1 c. 40%1

FY22 Expectation FY22 Expectation FY22 Events YTD:


90%1 30-50%1 +15% +14%

1 As a percentage of pre COVID-19 event revenues across the same events


2
Introduction to Hyve Group plc – December 2021 / 26
Customer spend relative to the previous event edition across all customers who participated in both event editions
Positive indicators of recovery

Forward booking trajectory improving as we enter FY22


Contracted revenues for FY22
£106m
Rollovers New Bookings
£97m

£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

Introduction to Hyve Group plc – December 2021 / 27


Project indicators
Positive Fortress of recovery

In summary

Events resumed with Return to cash flow


positive proof points positive while balance
of the recovery sheet remains strong

Outlook remains fluid Robust position to


so we continue to support acceleration of
manage cost and cash omnichannel strategy
prudently

Introduction to Hyve Group plc – December 2021 / 28


Appendices

Introduction to Hyve Group plc – December 2021 / 29


Appendices

Total insurance proceeds now £97.6m


£5.7m
Potential
receipts £8.7m
Potential
receipts

£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

FY20 policy: £62m1 FY21 policy: £50m

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

Returned to cash flow positive in early FY22


£m (per month) Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY221

Operating cash collection2 0.5 3.5 5.5 9.0 12.0

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

Insurance 8.0 3.0 10.0 1.0 3.54

Operating cash flows incl. insurance 1.0 (2.0) 7.5 1.0 4.5

1 Based on completed months only, i.e. October and November 2021


2 The monthly average cash collections, net of refunds paid, and excluding insurance proceeds
3 The monthly average cash cost of all cost of sales, overheads and capital expenditure
Introduction to Hyve Group plc – December 2021 / 31
4 Includes the confirmed cash flow to be received in December 2021
Appendices

Banking covenant waivers extended for another 12 months


Pre COVID-19 Throughout FY21 Current position
Original Banking Agreement May-20 Covenant Waiver Nov-21 Covenant Waiver

Leverage Ratio Leverage Ratio Leverage Ratio


Net Debt to Adjusted EBITDA Waived until June 2022 Waived until June 2023
≤3x on a Quarterly Basis Quarterly thereafter Quarterly thereafter

Interest Cover Ratio Interest Cover Ratio Interest Cover Ratio


EBITDA to Net Finance Charges Waived until June 2022 Waived until June 2023
≥4x on a Quarterly Basis Quarterly thereafter Quarterly thereafter

Minimum Liquidity Minimum Liquidity


Minimum Liquidity
£40m until March 2022 £40m until March 2023
N/A
Quarterly thereafter Quarterly thereafter

Introduction to Hyve Group plc – December 2021 / 32


Appendices

Current debt profile


As at 30 September 2021
Facility
Committed Drawn Repayments Interest Existing Financial Covenants
£m
£0.8 due in March 2022
£5.0 due in June 2022
£6.0 due in September 2022
Term 62.8 62.8 LIBOR + Margin (3.4%) while the › Leverage Ratio of net debt to adjusted EBITDA ≤3x
£6.0 due in November 2022
£22.5 due in November 2023 covenant waiver is in place. › Interest Cover Ratio of EBITDA to net finance charges ≥4x
£22.5 due in December 2023 LIBOR + Margin (1.9-2.9%) determined by › Tested every quarter from 30 June 2020
the Leverage Ratio thereafter.
Amounts can be repaid, redrawn or rolled for
Revolver 150.0 61.6
periods of 1, 3, or 6 months up to maturity

Total 212.8 124.4 Maturity : December 2023

Waiver – November 2021


Waiver detail
› Suspends the existing financial covenant tests for all periods up to and including March 2023 (a 12-month extension on previous waiver agreement)

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

Introduction to Hyve Group plc – December 2021 / 33


Appendices

Shareholder structure as at 30 November 2021


Country of Shareholder % of Total Shares No. of Shares (millions)

Strategic Value Partners US 16.2 47.4

RWC Partners UK 10.8 31.4

Jupiter Asset Management UK 7.0 20.4

Helikon IE 5.7 16.5

Aberforth Partners SC 4.8 14.1

Amiral Gestion FR 4.8 14.0

Wellington Management US 3.9 11.4

BlackRock UK 3.9 11.3

Bestinver Asset Management ES 3.5 10.3

Directors 0.3 1.0

Other institutions & individuals 39.1 113.8

Total Shares in Issue 100 291.6

Introduction to Hyve Group plc – December 2021 / 34


Appendices

Growing omnichannel portfolio


Omnichannel ready
Market-leading event Facilitated meetings Online meetings
sector

E-commerce for Retail

E-commerce for Grocery

Giftware Not suitable for


virtual format

Ed Tech
2022 Trial 2022

Commodities
121 Group 121 Group

Introduction to Hyve Group plc – December 2021 / 35


Appendices

Omnichannel growth – M&A approach


Primary M&A objective: accelerate omnichannel
while delivering attractive returns

Omnichannel ready shows Accelerate omnichannel adoption Key financial metrics


Hyve omnichannel capability injected into Platforms or tech that support and
high growth industries in order to accelerate the development of • Accretive in first full year
accelerate growth and returns omnichannel products
• ROIC > WACC within 3 years
Examples: Examples:
ng change ng change

Introduction to Hyve Group plc – December 2021 / 36

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