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Letter from the CEO (Pdf) Letter from the CEO Dear Ladies and Gentlemen, Dear Shareholders, I am delighted to be able to report a successful year for Wirecard AG. In the 2015 fiscal year, the transaction volume processed through the Wirecard platform grew by almost 32 percent to EUR 45.2 billion. Consolidated revenue increased by more than 28 percent compared to the previous year to reach EUR 771.3 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 31.4 percent to EUR 227.3 million. Development in 2015 Wirecard further expanded its position internationally as a driver of innovation for electronic pay- ment solutions in the past fiscal year. We provide companies of all sizes with Internet-based pay- ment solutions for all sales channels, whether online, mobile or point-of-sale (POS). As a combi- nation of a technology company and bank, Wirecard AG is able to cover the entire value added payment chain. Alongside payment and risk management solutions, this means we can also pro- vide solutions for payment acceptance (acquiring) and the issuing of cards (issuing). In the 2015 fiscal year, we were able to record above-average growth in the core e-commerce business. This is due to market growth and the resulting rise in transaction volumes from our currently 22,000 existing customers, as well as the sales successes achieved with new customers and partners. This very good result was also contributed to by the expansion of the e-commerce portfolio to include, for example, solutions for B2B online shops or new product developments and the associated value added services in the area of mobile payment. 6 DR. MARKUS BRAUN CEO, CTO Sales via all channels The e-commerce market continues to offer considerable potential for growth, not least thanks to the ongoing internationalisation of suppliers. At the same time, Internet technologies are increas- ingly dominating all sales channels. Supplementing existing payment methods and risk manage- ment solutions provides a good example of how existing business relationships can be expanded and innovative Wirecard solutions integrated. We offer a fully automated solution for the rapid configuration and acceptance of all common inter- national payment methods with the Wirecard Checkout Portal, enabling small and medium-sized re- tailers to also participate in international e-commerce. The Wirecard Checkout Portal is now availa- ble for retailers across Europe. Development in the area of mobile payment Wirecard was also able to further strengthen its international leading position in the area of mobile payment. Technologies such as NFC or HCE are already compatible with the omni-channel plat- form offered by Wirecard and are being increasingly used by retailers and consumers. On the basis of HCE technology, Wirecard has developed the payment app boon for end custom- ers. Host Card Emulation (HCE) is a purely software-based solution for which neither a special SIM card nor a security module is necessary. It is thus ideal for companies that want to reach a broad range of customers irrespective of a particular device model or mobile telephone provider. The mobile software solution boon has already been successfully launched in Germany, Austria, Spain, Belgium and the Netherlands. Also available as an individually adapted white label variant, the intuitively operated application provides companies and retailers with immediate access to mobile payment. The mobile wallet Orange Cash is the result of our strategic partnership with the international mobile telephone provider Orange. Orange Cash was gradually introduced initially on the French market in 2014 and then nationwide across Spain in 2015. The Wirecard Group is responsible for the design, implementation and the handling of all technical and financial processes. Mobile solutions for bricks and mortar retailers While Internet retailers have utilised digital customer data for years to directly address online shoppers and encourage them to make another purchase, bricks and mortar retailers have not yet exploited the potential of this data to anywhere near the same extent. The ConnectedPOS platform developed by Wirecard now also makes it possible to collect all useable data from check- out systems, transactions, customer loyalty programmes, beacon platforms or social media ap- plications at the bricks and mortar point-of-sale and to evaluate it is a variety of ways, thus cre- ating real added value. 8 T O O U R S H A R E H O L D E R S LETTER FROM THE CEO This is made possible by the so-called POS Connector – a hardware box that is connected be- tween the checkout and the receipt printer. Previously, it was e-commerce companies that could benefit in particular from analysis tools that are now available to bricks and mortar retailers via ConnectedPOS. Bricks and mortar retailers now have real time access to turnover, site, product and customer data and are thus able to draw conclusions about the performance of individual products, product groups or consumer behaviour. Furthermore, revenue-generating value added services such as mobile wallets, customer loyalty programmes – e.g. with the aid of the flexible and easy to use Card Linked Offers platform from Wirecard – or apps from third party providers can be seamlessly integrated into the system. This enables retailers to create a more personal and intense shopping experience at their locations. MPOS solutions for the international market With the expansion of Alipay acceptance throughout Europe, Wirecard is setting its sights on the fast growing Chinese tourism and business traveller market. Around 100 million Chinese visitors have spent an estimated USD 229 billion in foreign countries in the last year alone. Alipay is based on ConnectedPOS technology. This means that retailers do not need to make any changes to their existing checkout systems in order to handle Alipay payments. The Alipay solu- tion offers Chinese consumers in Europe a proven and trusted payment method at bricks and mortar retailers, without the inconvenience and fees involved in exchanging currencies. Author- ised retailers are able to use this payment solution to tap into part of the huge potential of the Chinese tourism market that is worth billions. In addition to the marketing activities of Alipay, we are also relying on distribution and sales partnerships. The right partner for financial technology (FinTech) Banks and financial institutions are strictly regulated in order to protect their customer’s invest- ments but this is not the case for many FinTech companies. When it comes to secure payment processing or the observance of regulatory and legal provisions, FinTech companies often do not possess the required expertise. In this context, Wirecard Bank plays a decisive role. As a fully licensed German bank under the supervision of the Federal Financial Supervisory Authority (BaFin), Wirecard Bank is ideally positioned to enter into profitable partnerships with FinTech companies. 9 Geographic expansion Alongside our core sales market of Europe, we are now represented on all continents through our gradual expansion into the Asia Pacific region, Africa and Latin America. We regularly enhance acquired national companies to ensure they can access the Group-wide value added chain and similarly centralise their technology and retailer services. Wirecard will thus ensure over the coming years that it can, on the one hand, expand its global customer portfolio, whereby the customers in Asia include e.g. leading banks, and on the other hand, offer local customers additional services. Overall, existing customer structures were continuously expanded to include new customers that could not have been addressed in the past by the national com- panies due to their lack of products. At the same time, the acquired access to local payment systems or existing contracts with local regulators offers economies of scale from the first day the company is consolidated into the Group. As a result of the acquisition of the payment business of the Great Indian (GI) Retail Group, one of the leading groups of companies in India in the area of electronic payment and retail-supported e-commerce solutions, we have secured a strong position in one of the world’s fastest growing markets for electronic payments. The existing business will be rolled out at the same time in other countries. Outlook In summary, the growth of the global e-commerce market is of decisive importance for the con- tinued above-average growth of the Wirecard Group. Furthermore, we anticipate sustainable growth due to the geographical expansion and networking of our business and our payment innovations. Our technological expertise is being combined with various services to form a unique complete package – from card and payment processing through card management to issuing licensing. The Wirecard Group focuses on applications in the areas of mobile payment acceptance, mobile money transfer and the technological provision of loyalty and couponing programmes that are completely integrated into mobile payment processes. These value added services are an integral component for retailers when launching and managing campaigns and customer loyalty activities. The acquisition strategy – based principally on organic growth in combination with acquisitions – will be continued in order to establish a strong global presence with experienced local teams. 10 T O O U R S H A R E H O L D E R S LETTER FROM THE CEO My Management Board colleagues and I are optimistic with regards to business performance and expect operating earnings before interest, tax, depreciation and amortisation (EBITDA) of between EUR 290 million and EUR 310 million in 2016. This growth forecast is based on the market growth of online transactions in Europe, the dynamic development of our business in the Asia-Pacific region, Africa and the Middle East, our activities in the area of mobile services, as well as on our ability to tap into new business areas. Together with my colleagues on the Management Board, I wish to thank all employees worldwide, without whom this business success would not be possible.
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