For Investors

Profile

DHH is a publicly-traded company with shares listed on AIM Italia, a Multilateral Trading Facility regulated by Borsa Italiana and registered as a SME Growth Market.

DHH’s investment objective is to provide above average long-term capital appreciation for shareholders by investing in privately owned companies in two primary business segments: Cloud computing and Web hosting in the emerging digital economies. Through ownership of DHH stock, investors are getting access to one of the most attractive private markets characterised by high growth at a reasonable price compared to more mature geographies. To achieve this objective DHH is proactively sourcing buy and hold investment opportunities with the best potential to create long-term shareholder value for its public market investors.

Presentation

Discover how we grew from startup to a publicly listed company in 12 months.

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Fact sheet

Find our data in one single place, from business description to key numbers.

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Equity research

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Value Creation

DHH creates value executing a sound M&A strategy, which aims at substantially increasing the intrinsic value of acquired companies in the very short term after the completion of the deal.

This strategy is based on the following pillars:

1) proposing a fair valuation for the acquisition, not over-paying the companies;

2) structuring a deal where the entrepreneurs have strong incentives to stay in the company after the acquisition with the goal of growing the main business KPIs: revenue, EBITDA, net profit, free cash flow;

3) cleaning-up the companies from the costs not connected to the core business, which are a constant in the world of SMEs;

4) implementing a control management system in companies, so to improve the budgeting and planning process, which is usually non-existent in the SMEs;

5) representing companies’ financials in the best possible way, communicating the meaning behind the numbers.

Thanks to this approach, in the last 3 years DHH invested 6M EUR in M&A deals and the portfolio companies are now worth more than 10M EUR.

DHH Stock

Information for Shareholders

Details

Ticker: DHH
ISIN Codes 1: IT0005203622 (ordinary shares)
ISIN Codes 2: IT0005203663 (ordinary shares with bonus shares)
ISIN Codes 3: IT0005203689 (warrants)
Market: AIM Italia/MAC
SDIR: eMarket SDIR managed by Spafid Connect S.p.A.

Advisors

Nomad: Advance SIM S.p.A.
Specialist: CFO SIM S.p.A.
Auditor: BDO Italia S.p.A.

Financial Performance

Highlights

– Double-digit growth on all the main financial KPIs (net sales, EBITDA, net profit)
– Cashflow before NWC changes up 31%
– Continuing growth in sales across all subsidiaries
– Improved EBITDA margin, as operating expenses scale with revenue
– Strong net cash position and almost zero debt
– Robust cash conversion – OCF/EBITDA = 100%

CONSOLIDATED INCOME STATEMENT
CONSOLIDATED
CONSOLIDATED
DELTA
(ALL AMOUNTS ARE IN EURO)
30.06.2018
30.06.2017
NET SALES
2.960.453
2.388.868
24%
GROSS MARGIN
1.233.532
1.063.075
16%
EBITDA
277.531
215.887
29%
EARNINGS BEFORE TAXES
140.405
118.133
19%
NET RESULT
102.806
84.964
21%
NET FINANCIAL POSITION
(2.684.347)
(2.278.126)
CONSOLIDATED PRO-FORMA INCOME STATEMENT
PRO-FORMA*
CONSOLIDATED
DELTA
(ALL AMOUNTS ARE IN EURO)
30.06.2018
30.06.2018
OPERATING REVENUES
2.974.846
2.974.849
0%
OPERATING INCOME – EBITDA
505.193
277.531
82%
EBIT
382.557
150.882
154%
EARNINGS BEFORE TAXES
371.366
140.405
164%
NET INCOME (LOSS) FOR THE YEAR
295.767
102.806
188%

* The consolidated pro forma is not audited by the audit firm but it has been checked only the mathematics accuracy.

Largest shareholders

Number of shares
% Social capital
Seeweb S.r.l.
360.000
25,352%
Giandomenico Sica
200.000
14,085%
Martin Romih
108.350
7,630%
Matija Jekovec
108.350
7,630%
Matjaž Jazbec
108.350
7,630%
Uroš Čimžar
108.350
7,630%
Tomaž Koštial
6.600
0,465%
Market
420.000
29,577%
Total
1.420.000
100,0%

Analyst coverage

COMPANY

ValueTrack

ANALYST

Marco Greco
+39 02 8088 6654
marco.greco@value-track.com

Pietro Nargi
pietro.nargi@value-track.com

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