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How do we create value ? With a soft touch … We are what we keep repeating .

How do we create value ? With a soft touch … We are what we keep repeating . Perfection is therefore not an act , but a habit. Aristotle Anna Hejka. He y ka Capital Markets Group. PARTNER IN GOOD & BAD TIMES. HCM Group Services. Corporate Finance

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How do we create value ? With a soft touch … We are what we keep repeating .

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  1. How do we createvalue? With a soft touch… We arewhat we keeprepeating. Perfectionistherefore not an act, but a habit. Aristotle Anna Hejka

  2. HeykaCapital Markets Group PARTNER IN GOOD&BAD TIMES

  3. HCM Group Services • Corporate Finance • Restructuring (improvementsin business model) • Valuation • Advisory Services • Mergers, Acquisitions & Divestitures • European Union funding • Privatization • Fund Management - Private Equity • Venture Capital • Buyouts

  4. HCM Group Portfolio

  5. HCM Group ValueDrivers • Increaseinrevenues • Organic growth via effectiveincentive systems for salespeople & optionplans for keyexecutives • Expansionintonew products, channels, customers, vendors & value-added services • Wiseexpansionintonewmarkets &/orsegments • Mergers, acquisitions/takeovers • Increaseinmargins • Conciousselection/reduction of SKUs • Costreductions • Financial engineering, management of banks • Effective management of cashconversioncycle • Acceptance of sunkcosts • Increasein return on capital • Efficient management of shareholders’ expectations

  6. HCM Group ValueCreation Wholeadsdoesn’thave to manage(Jack Welch) to fillthe gap betweenvision & reality: • Communicatedirectly & clearly • Rememberthatcarrotisbetterthanstick • Be objective & focus • Prepareemergency plan to emergency plan • Adjustquickly

  7. ValueCreationProcess Value IPO or strategic investor Exit: IPO, strategicinvestor (3 – 7 years) Laterstagefinancing (Private Equity, CorporateVentures) Pre-IPO II financinground (business angels, VC funds) Expansion I financinground (FFF, grants, incubators) Growth • Commercialization/production Stage of development Seed Start-up

  8. HCM Group ValueCreation • Internal audit to refine & improve existing business model, restructuring • Strategic planning & development, exit strategies for owners • Budgeting, projections, valuation • Financing: private & public (IPOs), equity, mezzanine, debt, guarantees • Vision/personnel management/motivation: incentives, options • Corporate governance, best practices & financial standards • Marketing/communications/PR/Investor Relations, Networking • Mergers, acquisitions, strategic alliances • Monitoring & Mentoring

  9. HCM Group ValueCreation Internal audit to refine & improve existing business model, restructuring Dailychallenges of managing a business leaveverylittle time for an in-depththought. Routinemakesmanagersoverlookrealsources of theirproblems. HCMGroup helps itsportfolio companies to executeinternal audit to make surethatourclientshaveanswers to alldifficultquestionsasked by potentialinvestorsor banks. Strategy

  10. HCM Group ValueCreation Strategic Planning &Development HCMGroup helps its portfolio companiesdefine & executetheir true mission, proper objectives, value-added strategies & effective tactics starting from refining business models & ending up with growth, expansion & exit strategies. Strategy

  11. HCM Group ValueCreation Budgeting, projections, valuation Strategy Central Europe haschangeddramaticallysince we startedourpracticein 1991, yet we stillkeepfinding many caseswheremanagersare not aware of thepossibility & theneed to capitalizecertainstart-upexpenses. Long-term investment expensedintheyear of thecashoutlaymakesitdifficult to seetherealprofitability of the business, to prepareprojections & valuation of companies, whichoftenare sold belowtheirtruevalue .

  12. HCM Group ValueCreation HCM Group effectively structures transactions using financial products tailored to changing micro requirements & macro conditions + optimizes financial structure of its portfolio companies & provides them with access to: • further rounds of equity financing • senior debt & mezzanine financing • bank guarantees • strategic alliances with global players • HCM Group stresses flexibility & quick, yet thoughtful action based on sensitivity analyses, emergency plans & value maps.

  13. HCM Group ValueCreation Personnel Management/Corporate Governance Key success factor of every venture lies in the quality of executive staff & good corporate governance. We pay special attention to management & human resources policy ofour portfolio companies & actively support them in this area by sitting on management & supervisory boards. I am looking for…???

  14. HCM Group ValueCreation Motivation & Vision Undoubtedly the primary source of motivation for executives of HCM Group portfolio companies is ownership. Therefore, we also help develop effective motivational packages for key employees & create contagious vision.

  15. HCM Group ValueCreation Marketing/Communication/PR/IR To support global marketing & communication of ourportfoliocompanies, HCM Group organizes & participateswithitsportfoliocompaniesin: • relevantevents: conferences, meetings, picnics, etc. • contactswith Business Angels Programs, global VC funds, etc.

  16. HCM Group ValueCreation Networking & Cooperation Business & personal relations of HCMGroup support portfolio companies in meeting business partners, buildingstrategic alliances, creating synergies & finding buyers or takeover targets in Europe & beyond. We help our portfolio companies in their negotiations with strategic partners of HCM Group, auditors, advisors, service providers & financial institutions to create special offers.

  17. HCM Group ValueCreation Mergers, acquisitions, strategicalliances In providing mergers, acquisitions & divestitures’ assistance, the HCM Group’s thorough knowledge of the players allows it to be highly effective in matching buyers & sellers.An extensive network of personal contacts with key economic & political decision makers as well as media provides HCM with invaluable information for investors seeking opportunities in Central Europe and CEE companies seeking expansion opportunities abroad. Strategy

  18. HCM Group ValueCreation Execution, Monitoring & Mentoring HCM Group organizes regular meetings with management & owners of portfolio companies to enhance objectives & strategy realization. Itis not onlyquestioning, but first of allconstructive dialog & mentoring session.

  19. HCM Group ValueCreation We lead & assistour portfoliocompanies inreachingtheirdreams

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