Download as pdf or txt
Download as pdf or txt
You are on page 1of 2

NASDAQ: VPRT

Vistaprint Vision
Recent Market Price (06/30/2011) $47.85
Make it easy for micro businesses and the home to get great looking design, print and mar-
52-Week Range $27.75 - $56.25
keting services at superior prices.
Shares Outstanding 43.1 million
Enterprise Value $1.8 billion
Market Capitalization $2.1 billion
Fiscal Year Ends June 30
U.S. Website www.vistaprint.com

IR contact: Angela White


Phone: +1 781.652.6480
ir@vistaprint.com

Disruptive Business Model


Q4 FY 2011 Financial Performance (Quarter ended June 30, 2011) Vistaprint has brought long-run, low-cost economics to short-run production jobs for the
 Revenue of $208.8 million micro business marketing market, a market opportunity of over $25 billion.
 GAAP net income of $14.4 million
 Non-GAAP net income of $19.5 million
Short-run/low-volume markets

FY 2011 Financial Performance (Fiscal year ended June 30, 2011)


 Revenue of $817.0 million  Produce in volume
 Sell in small quantities
 GAAP net income of $82.1 million  Apply broadly

 Non-GAAP net income of $104.5 million


Unit Cost

FY 2011 Operating Performance (Fiscal year ended June 30, 2011)


 11.4 million unique customers
 Approx. 67% of bookings from repeat customers Long-run/high-volume market
Vistaprint
 Approx. 22.9 million orders processed
 47% of revenue from non-US markets
Volume

Major Product & Service Lines


 Business cards, postcards, brochures, desk calendars, folders, Vistaprint Growth Strategy
address labels, rubber stamps, note pads, holiday cards, cus-
tomized logos, mailing services, websites, email marketing,
 Deliver jaw-dropping Customer Value Proposition with differentiated experiences for
signage, apparel and promotional products different types of customers
 Improve the value we provide to our customers
Manufacturing Facilities  Improve customer loyalty and retention rates

 Windsor, Canada  Accelerate new customer growth through Lifetime Value Based Marketing programs
 Enhance ability to acquire new customers by extending ROI payback period
 Venlo, the Netherlands  Target customers purchasing offline
 Deer Park, Australia  Deliver unbeatable competitive advantages through World Class Manufacturing initiatives
 Achieve a step-function change in on-time, to-spec delivery
Customer Support Operations  Enhance quality attributes
 Montego Bay, Jamaica  Improve unit manufacturing costs
 Tunis, Tunisia  Enhance market adjacencies:
 Berlin, Germany


Home and family market
Digital marketing services for micro businesses
North American Operations  Launch and grow business in target MOW markets
 Lexington, Massachusetts
Barriers to Entry
European Operations  High daily order volume enables significant scale and cost advantages
 Venlo, the Netherlands (corporate HQ)  Growing brand awareness
 Barcelona, Spain  Complex software and 47 patents granted
 Paris, France  Integrated manufacturing systems and substantial investment
 Winterthur, Switzerland  Internet direct marketing expertise and systems

Asia-Pacific Operations  International reach

 Sydney, Australia  Substantial market share versus other e-commerce print companies
Revenues ($M) GAAP EPS

$900.0 $2.00 $1.83


$817.0
$800.0 $1.80
Non-US US
$670.0 $1.60 $1.49
$700.0
$1.40 $1.25
$600.0
$515.8 $1.20
$500.0
$400.7 $1.00 $0.87
$400.0
$0.80
$255.9 $0.60
$300.0
$0.60 $0.45
$200.0 $152.1 $0.40
$100.0 $0.20

$- $-

FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011

GAAP Net Income ($M) Capital Expenditures vs. Revenues

$90.0 $82.1
$80.0
$67.7
$70.0 3%
Other 1
$60.0 $55.7
2
8% Land and Facilities
$50.0
$39.8
3% 2% 3%
$40.0 Manufacturing & 3
$27.1 Automation
$30.0 7% 7% Equipment
$19.2 9%
$20.0 14%
1%
$10.0 6% 6% 2%
3% 2%
$0.0
FY 2007 FY 2008 FY 2009 FY 2010 FY 2011
FY2006 FY2007 FY2008 FY2009 FY2010 FY2011
$63M $63M $76M $101M $37M

1 IT infrastructure, software and office equipment


2 Land, building and construction, leasehold improvements, and furniture and fixtures
3 All manufacturing and automation equipment, including offset and digital print lines,
other printing equipment, pre-press and post-press equipment such as cutters, and
automation equipment

Key Operating Metrics


Annual Unique Customer Count
11.4 % of Revenue from Non- Approx. New Customer Repeat Customer
9.6
Revenue ($M) US Markets Acquisitions (M) Bookings
8.0 FY08 Q1 79.5 34% 0.975 64%
6.2 FY08 Q2 105.0 39% 1.1 63%
4.1
2.7
FY08 Q3 105.8 38% 1.2 64%
FY08 Q4 110.4 39% 1.2 65%
FY09 Q1 114.2 38% 1.2 66%
FY2 006 FY2007 FY2008 FY2009 FY2010 FY2011
FY09 Q2 138.9 42% 1.5 65%
FY09 Q3 127.5 38% 1.5 66%
Average Annual Bookings per Unique FY09 Q4 135.2 39% 1.4 67%
Customer FY10 Q1 145.1 41% 1.4 67%
$ 70 $72 FY10 Q2 194.6 51% 1.8 66%
$63
$53
$58 $61 FY10 Q3 166.0 45% 1.6 67%
FY10 Q4 164.3 41% 1.6 67%
FY11 Q1 170.5 43% 1.6 68%
FY11 Q2 234.1 53% 2.2 67%
FY11 Q3 203.7 46% 1.8 68%
FY2006 FY2007 FY2008 FY2009 FY2010 FY2011
FY11 Q4 208.8 46% 1.8 68%

You might also like