Highlights

Entrepreneurs with track record, able to build from “scratch” in 5 years a company with a turnover of ca €18m, an EBITDA of €6,8m, a net profit of €2,6m 100 people, 100.000+ customers across the Southern Europe (ref. Bosnia and Herzegovina, Croatia, Italy, Italian Switzerland, Serbia and Slovenia), executing ca. 14 cross border M&A deals.

Wide and top-quality cloud computing, offer portfolio to meet most demanding customers, with almost all solutions which are based on subscriptions (mostly SaaS/IaaS) with a minimum duration and automatic renewal.

Extensive physical and network infrastructures, with both the internet backbone and all six datacenters connected to each other and to other Italian and foreign PoPs through an optical fiber ring, allowing the Group to take significant advantages, among all to apply competitive prices.

Highly scalable and profitable business model, featured by a high incidence of recurring revenue and client retention, at roughly 90%, with many clients remaining with DHH for years, notwithstanding the original contract duration.

In-house development of cutting-edge services, together with an open innovation approach in finalizing corporate venture capital deals, investing as “angel” in most promising start-ups, like Docebo, the well-known e-learning platform now worth ca. 746M EUR / July 10, 2020, in which the Group (Seeweb) invested EUR 150K back in 2006, with a profitable exit in 2015.

In-depth and proven capabilities of turning around and up-scaling acquired assets (fourteen acquisitions since foundation, eleven acquisitions after the IPO that took place back in July 2016, corresponding to ca. €6mn cash-out).

Buoyant financials figures, typical of a cloud computing company and characterized by i) Revenues increase high-single digit to €18,1M, + ca. 8% YoY in FY20PF, with recurring stream at ~90%, b) greater efficiency in operating expenses leading to further increase in profitability, with EBITDA at €6,8M (+21,4% y/y), with EBITDA margin close to 38% (+430 bps y/y), c) subscription based business model bringing in a strong cash generation (OpFCF b.t. at 73% of EBITDA), with Positive Net Cash Position at €1,5M compared to Net Debt of €2,2M as of Dec’19, d) dividend in kind through free allocation of treasury shares, with a 1:25 ratio.​

Clear and visible growth ahead, expected to keep pushing on business acceleration and innovation, with the aim of increasing ARPU, widening product portfolio and trying to further exploit M&A opportunities.