Workshop - Xovis IM
Workshop - Xovis IM
Company overview
Description Xovis solutions & verticals Revenues & n
Global #1 provider of proprietary technology solutions to Full-solution offering Reve
measure/track, analyze and optimize1) people flow
Dominant global #1 in airports, technology leadership in 1 2 3
retail, successful expansion into public transportation and Measure/track Analyze Optimize1)
various additional application areas
Best-in-class, IP-protected and 100% Swiss-made sensor AGR +42%
technology solutions, fully assembled in-house Sensors Software suite Predictive algorithm
Sensors generally include a maintenance contract, (mounted on ceiling)
generating recurring revenues in airports Verticals
Founded in 2008, headquartered in Zollikofen, Switzer-
land with an additional office in Boston, USA since 2017
Airport Retail Public Other
Owned by EMERAM Fund and management transportation verticals
Co-founders
David Studer Markus Herrli Christian Studer Andreas Fähndrich Fabio la Mattina Kuno Fasel Daniel Bösch
CEO CTO CPO MD Airports MD Retail CFO COO
Note: 1) Currently only offered in airport segment; 2) Thereof 6 in project stage (already signed contracts) as of Feb-2019; 3) Airports only 3
Sensor Analysis soft- Innovation
ware/system capabilities
Xovis offers high-end and IP-protected sensor technology based on proprietary embedded software with plug-in capability running on edge, fully
assembled and calibrated in-house in Switzerland, providing unmatched accuracy, functionality and significant further USPs to its customers
Proprietary software suite for data analysis from sensors Sensor/software combination forms a full system solution
On sensor
edge computing
Clients
Ensures full
data privacy
compliance
2 3
Configuration Analysis
Configuration of the sensor can be done Software receives live data streams from all 1
remotely via an intuitive interface with installed sensors, calculates and visualizes
easy to understand visual settings KPIs on real-time
time dashboards, whereas an
unlimited number of sensors can be
connected with the system
Functionalities Selected KPIs calculated with software Full and comprehensive people flow system solution
Calculation of KPIs Passenger/customer count
Visualization on dashboards Queue length and waiting time 1 Single sensor: Using single people counting sensor to measure
footfall and other KPIs within limited areas, such as entrance
High-level algorithms (multisensor, Dwell time and fill levels of a store
queue detection, etc.) Passenger/customer journey
2 Multisensor: 3D sensors can be combined to act in a
Forecasting Process time
multisensor setup in order to fully cover larger areas, not
Alerts based on customized thresholds Desk/lane activity being limited to the coverage of a single sensor for people
Reports (Microsoft Excel) Passenger throughput tracking. Capable of seamlessly handing over tracked people
API to exchange data with other systems Pathway/flow analysis from one sensor to the next one
(Remote) sensor management Automated queue detection
3 Software Installed
System management and monitoring Real-time prediction and forecasting
one standard server handling up to 600 sensors
6
Sensor Analysis Innovation
software capabilities
Staff exclusion
Exclusion of ground staff for
more accurate store metrics
Gender recognition Group counting
AI-based gender recognition for (launched Jan-2019)
2019) AI-based group recognition such as
advanced analytics families, couples, tourist groups, etc.
R&D costs (CHFm) 1)
(launched Jan-2019) (launched Jan-2019)
CAGR +29%
Innovation culture and strong roadmap to expand existing solutions through new AI- and RFL-based features, enable Xovis to continuously set
industry standards, remain ahead of competition and increase recurring software revenues
Dominant global #1 in people Technology leader with most Promising market entry through Strong interest for Xovis solution
flow analysis and waiting time comprehensive solution for people exclusive cooperation with a and two pilot projects ongoing
measurement counting, dwell time measurement systems integrator and upcoming Development of a specific building
Xovis solutions cover entire and in-store analytics direct sale initiatives management sensor has already
passenger journey (from taxi to Unique functionalities, e.g. gender Focus on rolling stock, sensors used been started
security to customs to gates), full store coverage offer
statistics, full-store for automated people counting, Wide range of further application
enabling airports to increase strong competitive advantages (best seat and space occupancy detection areas, such as security, hospitals,
efficiency and customer satisfaction available sensor in market) Attractive growth potential resul- smart cities, etc.
78% deep selling to existing Strong upside in offering the full ting from increased demand for Xovis technology can easily be
customer base in 2018 solution and increased SaaS in complex sensor technology by applied to new verticals without
in-store
store analytics rolling stock operators major investments
Revenue share 2018: 51.7% Revenue share 2018: 46.5% Revenue share 2018: 1.9% Revenue share 2018: 0%
Initially serving airports, Xovis successfully entered retail in 2015, and moved into public transportation in 2018. Proven capability of expanding
into adjacent, large end-markets by leveraging the adoptable technology solution
2014
2018
0 customers 5 customers11)) 14 customers 13 customers1) 1 customer1) 74 customers2) 20 customers1) 12 customers1)
Selected new Xovis customer wins Selected new Xovis customer wins
Xovis re-defined the airport people flow market and created a new demand by offering superior people flow management solutions, tailored to
the needs of airports and continuous innovation, which enabled the company to become the dominant global #1 while outgrowing its competitors
Note: 1) Management estimates; 2) Thereof 6 in project stage (already signed contracts) as of Feb-2019
Source: Statista Dec-2018 8
2 CREATED A NEW MARKET IN AIRPORTS WITH A DOMINANT #1 POSITION (2/2)
Long-term
term relationships with airports
Xovis serves 10 out of the 25 busiest
worldwide with significant recent wins
airports worldwide with 5 additional
of customers in the US and pilots in
pilots and one awarded tender
Bejing and Shanghai
25 busiest airports worldwide Xovis airport customers
Rank
ID Country Airport
PAX m Growth Xovis Airports
irports using Xovis
2017 2017 '12-'17 customer since Future high potential markets
1 ATL Hartsfield Jackson Atlanta Intl. 103.9 9% 2019
2 PEK Beijing Capital International 95.8 17% Pilot1)
3 DXB Dubai International Airport 88.2 53% 2015
4 HND Tokyo Haneda Airport 85.4 26%
5 LAX Los Angeles International 84.6 33% Pilot
6 ORD O'Hare International Airport 79.8 20%
7 LHR London Heathrow Airport 78.0 11% Pilot ATL
DFW new 2019
8 HKG Hong Kong International 72.7 30% new 2018
9 PVG Shanghai Pudong International 70.0 56% Pilot1)
10 CDG Paris-Charles de Gaulle Airport 69.5 13% 2015
11 AMS Amsterdam Airport Schiphol 68.5 34% Pilot
12 DFW Dallas/Fort Worth Intl. 67.1 15% 2018
13 CAN Guangzhou Baiyun Intl. 65.9 36%
14 FRA Frankfurt Airport 64.5 12% 2012
Even though Xovis is already the dominant #1 player in airports,
15 IST Istanbul Atatürk Airport 63.9 42%
the company currently only serves 9% of all relevant airports
16 DEL Indira Gandhi International 63.5 86% 2016 worldwide (743) Xovis customers out of 816 relevant airports), Plus currently 10 ongoing
17 CGK Soekarno-Hatta International 63.0 9% leaving substantial headroom for future growth5) pilots at new potential
18 SIN Singapore Changi Airport 62.2 22% 2014 airport customers4)
19 ICN Seoul Incheon International 62.2 59%
20 DEN Denver International Airport 61.4 16%
21 BKK Suvarnabhumi Airport 60.9 15%
CAGR +68% 72 743)
22 JFK John F. Kennedy International 59.4 21% 2014 50
23 KUL Kuala Lumpur International 58.6 47% Tender awarded2) 33
19
24 SFO San Francisco International 55.8 26% 2014 9
25 MAD Madrid Barajas Airport 53.4 18% 2016
Total 1'758.0 26% 25 2014A 2015A 2016A 2017A 2018A 2019YTD
absolute 687.5 24% 10
in % 39% 40%
# of Xovis airport customers
Xovis is the dominant #1 player in airports, serving 743) customers worldwide (incl. 10 of top 25 airports) with zero churn since foundation.
US market penetration gaining traction with the Boston office opening in 2017 and large recent customer wins (e.g. Atlanta Intl. & Dallas Intl.).
Strong potential in currently partially unserved Asian, African & South American markets, as well as the US
Note: 1) Pilot in Q2-2019; 2) Already confirmed; 3) Thereof 6 in project stage (already signed contracts) as of Feb-2019; 4) Not yet Xovis
customer; 5) For further details, please refer to page 27 9
3 MARKET LEADING POSITION IN RETAIL & FURTHER LARGE END-MARKETS (1/2)
Global retail and retail analytics market -in-class retail solutions Xovis retail integrator customer base
USDtn
CAGR +4% People counting CAGR +61%
29.6 30.4 31.3 32.1 Measures KPIs such as 167
26.6 28.2 145
footfall, zone dwell time
and conversion rate, etc. 95
Measurability of the success of setup 40
and layout changes
2017A 2018E 2019E 2020E 2021E 2022E Various unique functionalities such as 2015A 2016A 2017A 2018A
staff exclusion, gender statistics, etc.
Traditional retail sales # of Xovis retail integrator customers
in growing need for
USDm
In-store
store analytics
CAGR +17% Tracking of shopper and staff
Selected integrators
movements through large areas
Understanding customer paths
Optimizing store layout and
product placement
Better understanding of customer
2017A 2018E 2019E 2020E 2021E 2022E behavior and optimize staff planning
People movement & location analytics in retail
Stagnating brick & mortar retail sales lead to Best-in-class people counting solution provider
Best Strongly growing customer base of 167 well-
increased demand for better store concepts and ideally positioned to capture the enormous known retail integrators, indirectly serving
and accurate in-store
store analytics reflected in potential of the in-store analytics market innovative retailers and shopping malls
strong growth of retail analytics with increasing sensors per store
Xovis is the technology leader in retail with a strongly increasing customer base of 167 integrators. Attractively growing and huge retail analytics
market driven by high analytics needs by traditional retailers, will lead to strong market growth and attractive upside for Xovis going forward
2013A 2014A 2015A 2016A 2017A 2018E 2019E 2013A 2014A 2015A 2016A 2017A
# PAX (in bn) # mega hub airports
Growth in air passenger traffic to drive need for efficient use of limited Strong growth of mega hub airports (and higher point-to-point traffic)
resources through comprehensive people flow management solutions
# of airports worldwide
CAGR
2010-2017
8.1%
963
816
6.0%
addressable
market
449 460 471 490 2.8%
384 428
326 343
228 242 245 253 255 260 264 276
13.2%
21 24 25 27 29 37 46 50
Xovis considers global airports with >1m PAX p.a. as its addressable market
Even though Xovis is already the dominant #1 player in airports, the company currently only serves 9% of all relevant airports worldwide, leaving
substantial headroom for future growth (based on the historical airport development, the addressable market will further increase until 2023)
Value generation
through data insights
30
Market Competition Business Model Solutions Marketing &
Customers
Solution
Comprehensive people flow
management solution from
Best-in-class people flow analysis and implementation to support
waiting time measurement solution Airport operators
Highly loyal customers: Once solution is Better people flow/queue control
installed, customers stay with Xovis; Data-driven
Data driven planning to manage peak
platform lock-in effects and loads creates savings from increased
upselling potential staff efficiency
Easily scalable: installation only requires Higher passenger capacity
1-2 on-site visits, configuration and throughput
performed remotely Passengers spend more time in retail
Customer
Predictable and recurring revenue
from SLAs1) including ongoing services
and maintenance Revenues
One-off
One off revenues from projects (sensors,
software, services) and recurring SLA1)
revenues for maintenance
One-off
off revenues, however repeating revenues due to high deep selling with existing customers Services and recurring revenues
11 2 3
Sensors Software (analysis software suite) Services (project planning, execution and
training) and recurring maintenance
54.6% of total airport revenues2) 13.6% of total airport revenues2) 31.7% of total airport revenues2)
Note: 1) Service level agreement; 2) Other revenues account for 0.1% and is not shown on this page 31
Market Competition Business Model Solutions Marketing &
Customers
%o es
Xovis enjoys highly predictable airport revenues with ever increasing sensor, software, and service revenues driven by deep selling (roll-out
throughout airport areas), and perpetual maintenance revenues based on the deployed sensor base, generating recurring and repeating revenues
32
Market Competition Business Model Solutions Marketing &
Customers
Global retail people flow & location analytics market Split by technology Split by geography
USDm 2017-22 CAGRs
7% 8%
by category: 12.9%
CAGR +17% 25.4% 24% 30%
6.3% 6.2%
425 11.7% 8.5% 28%
2017A 24%
379
340 19.8%
305 8.9% 18.6%
273 41% 38%
899
629 752
525 19.5%
878 18.0%
456 537 633 745 2017A 2022E
3D video Infrared North America Other
2017A 2018A 2019E 2020E 2021E 2022E
2D video Thermal Europe
Supporting infrastructure1) Software/analytics3)
Wi-Fi Other Asia Pacific
Devices & sensors2) Services4)
Bluetooth
Global market of people flow and location analytics in the retail sector is 3D video as provided by Xovis is North America is the largest
estimated to grow at a CAGR 2017-2022
2022 of 17% to c. USD 3bn by 2022 the most dominant technology market for people flow & location
Software and analytics is forecasted to grow at the fastest rate, rising used in people flow & location analytics, followed by Europe and
from USD 0.5bn to USD 1.3bn by 2022 (CAGR of 20%) analytics initiatives Asia Pacific
Revenues generated from devices and sensors are forecasted to grow by As of 2017, the largest share of Highest future growth is
a CAGR of 12% to USD 0.4bn by 2022 revenues was invested in 3D video expected for Asia Pacific
Increased demand for consulting services will drive service revenues at a sensor solutions, the technology Xovis already has a global retail
CAGR of 18% to USD 1.0bn by 2022 which is used by Xovis footprint with further
Xovis sensor solution opportunities in the partially
Xovis core segments are expected to grow at an attractive CAGR of 18%
underserved Asian markets
to USD 2.8bn by 2022
Xovis products
Note: 1) Includes networks, routers, gateways, servers, etc. required to deliver analytics services; 2) Includes cameras, sensors, Bluetooth
Beacons, etc.; 3) Includes software licenses, data analytics and SaaS subscriptions; 4) Includes consulting, support, training, etc.
Source: I&G Systems Mar-2018 48
Market Competition Business Model Solutions Marketing &
Customers
Retail stores
Best people tracking sensors Retail integrators Demand for independent sensors to
prevent lock-in with integrators
Best-in-class people Benefit
Xovis provides the most tracking solutions Pressure from e-commerce players
comprehensive sensor technology (people counting and
sensors as reliable and precise data
to catch up on behavior analytics
to integrators at excellent in-store analytics) sources for their industry solutions Integrated
analytics Increase sales through optimized
performance values Handle customer acquisition
offerings and store management as well
Integrate various technologies to as better customer flow management
by the # of sensor sold provide holistic customer
Integrator as intermediary enables analytics solutions
Xovis to focus on their sensor Sell sensors together with services Revenues
technology competence while One-off revenue to retail stores and take care of
reaching global market coverage from projects project execution
(sensors, software,
Lock-in effects once retail analytics services) and Rely on sourcing sensors from
integrators make the decision to use recurring IBEX Xovis, as sensor technology is
Xovis, as analytics platforms are cloud revenues usually not a core competency Shoppers
tailored to the sensor data and retail stores often prefer Benefit from shorter waiting times
quality/format independent sensor manufacturers and better shop navigation
Growing Xovis network Benefit from enhanced shopping
experience at brick-and-mortar
retailers
51
Market Competition Business Model Solutions Marketing &
Customers
1 2 3 4