WAVESTONE INVESTOR MEETING
Portzamparc Group Meeting
April 30, 2024
AGENDA
01 | Wavestone, a new consulting champion |
02 | Outlook and recent news |
03 Appendix
© WAVESTONE + Q_PERIOR | 2
A new global consulting powerhouse with a 360° transformation portfolio of high-value consulting services
Core-business process capabilities
Customer Experience, Supply Chain, Compliance, risk and regulations
Technology
& integration capabilities
Data & Artificial intelligence, Cybersecurity, SAP consulting, IT Strategy & CTO Advisory
Unrivalled industry expertise
Banking, Insurance, Energy, Transportation,
Automotive & Industry, Beauty & Luxury,…
Corporate functions and support-process capabilities
Corporate finance, HR and procurement,
Sourcing & Services optimization,
Change Management
Sustainability capabilities
Decarbonation, Green IT, IT for Green
CSRD - Double materiality assessment
Note: non-exhaustive selection of key cross-industry capabilities
© WAVESTONE + Q_PERIOR | 3
Wavestone: a new European consulting firm with a global reach
- people-centricand responsible company
A consultancy that puts people at the center of everything.
An ethical and civic-minded firm, at the forefront of best practices in social, societal and environmental responsibility.
A unique range of capabilities
Unrivalled industry expertise and technology fluency.
Cutting-edge know-howin key cross- industry domains such as Cybersecurity or Sustainability.
End-to-end transformation support, from building the business case to making the change happen.
Independent, integrated, with one objective: Client Success
A development model driven by growth.
Majority of the shares owned by founders and key leaders of the firm.
© WAVESTONE + Q_PERIOR | 4
Stronger and broader: a substantial international presence
A leading position in the three main markets of continental Europe
OTHER | ||
NORTH AMERICA | 4% | |
UK | 5% | |
5% | ||
SWITZERLAND | 11% |
52%
FRANCE
23%
GERMANY
€835m
consolidated revenue1 at March 31, 2023
12.1%
consolidated EBIT margin1 at March 31, 2023
5,500+
cumulated FTEs
17 countries
in presence
1 Based on IFRS unaudited pro forma figures over 12 months at March 31, 2023
© WAVESTONE + Q_PERIOR | 5
Breakdown of the new group's activities
OTHERS | ||
CONSUMER GOODS, | ||
RETAIL & LUXURY | ||
6% 5% | BANKING | |
PUBLIC SECTOR & | 21% | |
INTERNATIONAL INSTITUTIONS | 10% | |
AUTOMOTIVE 13% | 18% | |
& INDUSTRY |
Key customers1
BMW | MUNICH RE |
CREDIT AGRICOLE | SNCF |
DEUTSCHE BAHN | SOCIETE GENERALE |
13%
TRANSPORTATION,
TRAVEL & LOGISTICS
1 Ranked by alphabetical order
INSURANCE
14%
ENERGY
EDF | SWISS RE |
L'OREAL | TOTALENERGIES |
© WAVESTONE + Q_PERIOR | 6
Long-term growth ambitions while remaining true to our non-financial commitments
Long-term objectives:
- Sustain a 15% revenue growth rate1.
- Sustain an EBIT margin of around 15%1.
- Be considered by our clients as the trusted alternative to major and established competitors2 for their major transformation projects.
- Combining organic growth and acquisitions
- Big 4 and dominant UK/US firms
A culture of strong non-financial
performance…
- Client satisfaction: NPS® score above 50.
- Talent development: High employee engagement index, in the TOP 10% of the Great Place to Work® ranking in each. country.
- ESG commitment: in the TOP 5% of the best companies in terms of CSR.
© WAVESTONE + Q_PERIOR | 7
AGENDA
01 | Wavestone, a new consulting champion |
02 | Outlook and recent news |
03 Appendix
© WAVESTONE + Q_PERIOR | 8
Completion of the combination with Q_PERIOR on December 5, 2023
- Details of the operation
- acquisition by Wavestone of 100% of Q_PERIOR's share capital
- base price: €321.9m (€330m in enterprise value)
- 79% of the base price financed by shares
- earnout of up to €35m
- consolidated from December 1, 2023
- Action in concert concretized by a ten-year shareholders' agreement
- 4-yearlock-up for parties acting in concert
- shares under lock-up mechanism representing 60.19% of the capital
- with a degressive mechanism over 4 years
Breakdown of capital after the operation1
(24,906,332 shares)
TREASURY STOCK
1.3%
IMBERT FAMILY | ||
FREE FLOAT | 23.2% | |
29.0% | ||
60.19% | ||
Concert of | ||
Q_PERIOR | controlling | |
shareholders | ||
EMPLOYEES | ||
2.9% | 6.6% | 20.9% |
DANCOISNE-CHAVELAS | ||
WAVESTONE | 16.0% | |
FAMILY | ||
EMPLOYEES | ||
MAJORITY
SHAREHOLDERS
Q_PERIOR
1 based on the breakdown of Wavestone's capital at September 30, 2023 | © WAVESTONE + Q_PERIOR | 9 |
Revenue target exceeded; +9% organic growth over the 2023/24 fiscal year
2023/24 | Change at | Total | ||||
Revenue in €m | 2023/24 | excluding | 2022/23 | constant scope1 | ||
Unaudited consolidated data | Q_PERIOR and | and on a constant | change | |||
Aspirant Consulting | forex basis | |||||
Q1 | 143.3 | 143.3 | 122.0 | +11% | +17% | |
Q2 | 133.4 | 133.4 | 115.1 | +14% | +16% | |
Q3 | 175.6 | 150.9 | 139.1 | +10% | +26% | |
Q4 | 248.8 | 159.3 | 156.0 | +4% | +59% | |
12-month total | 701.1 | 586.9 | 532.3 | +9% | +32% | |
1 excluding PEN Partnership, consolidated since August 1, 2022; Coeus Consulting, consolidated since October 1, 2022; Q_PERIOR consolidated since December 1, 2023; and Aspirant Consulting consolidated since February 1, 2024
- Revenue growth of +59% in Q4 2023/24; growth of +4% at constant scope and exchange rates
- a significant slowdown in the organic growth as anticipated in the context of a hardening business environment
- unfavorable working day impact standing at -1.5%
- 12-monthrevenue excluding Q_PERIOR and Aspirant Consulting: €586.9m
- exceeding the annual revenue target of €580m
- 12-monthrevenue on total scope: €701.1m
- up +32%, equivalent to +9% organic growth (unfavorable working day impact standing at -1.6%)
© WAVESTONE + Q_PERIOR | 10
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Wavestone SA published this content on 30 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2024 09:11:07 UTC.
