OXATIS (EPA:ALOXA) - OXATIS ANNOUNCES THE FILING OF ITS OFFERING MEMORANDUM FOR ITS UPCOMING IPO ON EURONEXT GROWTH PARIS

Transparency directive : regulatory news

27/03/2018 07:30

PRESS RELEASE

Paris, 27 March 2018

OXATIS ANNOUNCES THE FILING OF ITS OFFERING MEMORANDUM FOR ITS UPCOMING IPO ON
EURONEXT GROWTH PARIS

Oxatis, a technology expert in e-commerce SaaS, announces the filing of its
Offering Memorandum with the AMF (French financial markets authority) under
number I.18-007 dated 26 March 2018.

The filing of the Offering Memorandum marks the first step in Oxatis's IPO on
the Euronext Growth market in Paris, which remains subject to market conditions
and the validation of the relevant Prospectus by the AMF.

Oxatis: a technology expert in e-commerce SaaS

B2C e-commerce in France currently represents EUR81 billion in revenue(1), and
70% of French consumers make online purchases(2). However, despite steady
growth in this market (+23% per year on average between 2005 and 20171), only
12.5% of French SMEs sell their products and services online. Oxatis's mission
is to help SMEs take advantage of e-commerce opportunities by giving them
access to solutions that have typically been reserved for the big e-commerce
players.

A single technological platform and already close to 7,000 merchants

Since its creation, the company has been developing a SaaS-accessible
technology platform that gives companies access to over 400 features used for
launching and developing e-commerce sites, encompassing design, omni-channel
deployment, SEO, the management of catalogues and orders and marketing and
analysis tools. Thanks to this solution, all the expertise needed to succeed in
e-commerce is accessible on demand without any constraints related to hosting,
security or updates.

Access to the platform is based on a monthly subscription, which customers may
supplement with access to additional features.

This comprehensive, evolutive and robust technological platform has seen rapid
success. In 2017, the platform had already nearly 7,000 European SMEs operating
in four countries. In total, Oxatis's clients represented over a year EUR350
million in online orders across over 20 sectors in the B2C and B2B segments.

Over 15 years of innovation and a unique ecosystem with more than 100 partners

In terms of innovation, Oxatis's technological platform is the sum of over 15
years of investment. Over the past three years, an average of 19% of revenues
have been allocated to its development. For all its key functions, Oxatis's
solution also incorporates expertise from leading technological partners like
Sage, eBay, Amazon Pay and Colissimo. These partnerships have been a source of
strength: Oxatis is currently the only European e-commerce solution certified
as a Google AdWords Premier Partner.

An established sales structure with a European reach

To help expand its customer base, Oxatis uses four customer acquisition
channels. Most of the business is conducted by internal sales teams. This
customer acquisition strategy is implemented through an indirect sales network,
whose importance is growing (13% of revenues in 2017). This network is composed
of software developers and IT resellers (Sage, Cegid, EBP and TeamSystem) and
leading banking networks (Crédit Agricole, Crédit du Nord, Caisse d'Epargne
and CM-CIC). In the coming months, Oxatis may also enlist web agencies and IT
service companies as part of its customer approach. The growing contribution
from these indirect channels is a decisive advantage for Oxatis, enabling it to
vastly increase growth potential and reduce customer acquisition costs.

The existing sales structure is part of a Europe-wide framework. Besides
France, Oxatis has a direct presence in Spain, the United Kingdom and Italy.

Growth of over 30% in 2017 with strong recurrent business

All these factors already contribute to the company's growth. In 2017, Oxatis
had 175 employees and achieved revenues of EUR9.6 million, an increase of 31%
from 2016. In France, revenue growth amounted to 32%. International operations
accounted for nearly 20% of all business activity, with revenue in this
category up 24% to nearly EUR2 million.

This robust organic growth has been accompanied by strong recurrent business.
Thanks to the loyalty of the customers using the SaaS platform, recurrent
business represented 83% of total revenues in 2017.

An initial step: double in size and become a European leader in e-commerce
SaaS

Oxatis is already working toward its goal of becoming a European leader in
e-commerce SaaS. On this growing market, an initial target has been set by the
managers who are aiming to reach EUR20 million in revenues by 2020, which
amounts to average annual growth of 25-30% in line with the trend observed
since 2008 by the company (average annual growth of +29%). This organic growth
should be accompanied by increasing margins, with the aim of achieving positive
EBITDA in 2020 and, within five years, a double-digit operating margin, as
observed for software-editing companies in SaaS mode. Since its creation in
2001, Group's cumulative net losses amounted to -EUR8.9 million, including
-EUR2.3 million for the last financial year.

To succeed, Oxatis plans to consolidate the technological leadership already
achieved thanks to substantial investment. In sales, the company has
significant leverage it can employ, such as recurrent business, to vastly
increase its growth potential while reducing its customer acquisition costs:
working with bigger clients, revenue growth in the existing client base,
strengthening indirect sales channels, etc.

Finally, Oxatis is committed to accelerate its international growth. This
aggressive strategy will be implemented both in its established markets (UK,
Spain, Italy) and through new positions in other, high-potential European
countries.

Marc Schillaci, Chairman and CEO of Oxatis, had the following statement about
the upcoming IPO: "Our IPO on Euronext Growth is part of our strategy to
accelerate [our growth], because now is when positions are being won in France
and across Europe. We've already won over thousands of businesses, who enjoy
excellent e-commerce opportunities thanks to our technological solution. But
our adventure is only beginning. By combining the best e-commerce expertise
with the strength of the SaaS model, our growth potential is significant. We've
been successfully supporting the e-commerce ambitions of SMEs for years. The
success of our IPO will be a decisive step toward achieving our own ambition:
to become a European leader in e-commerce SaaS with the backing of our future
shareholders!"

Find all the information on Oxatis's planned IPO at:
http://investir.oxatis.com

Sources:
(1) FEVAD - 2017
(2) Consumers aged 16-64, Eurostat

Contacts

Oxatis
Jean-Christophe Brun
+33 04 86 26 26 26
investor@oxatis.com

Financial Communications

Benjamin Lehari
+33 01 56 88 11 25
blehari@actifin.fr

Corporate Press Relations

Bruno Lorthiois
+33 06 78 97 07 24
lablcoms@gmail.com

Financial Press Relations

Isabelle Dray
+33 01 56 88 11 29
idray@actifin.fr

Obtaining the Offering Memorandum

Copies of the Offering Memorandum, registered by the AMF on 26 March 2018 under
number I.18-007, are available free of charge on request from Oxatis's
registered office (Immeuble Acropolis 171 bis chemin de la Madrague Ville,
13002 Marseille), and on the websites of Oxatis (http://investir.oxatis.com)
and the AMF (www.amf-france.org).

Risk factors

The public is invited to read Chapter 4, "Risk Factors," in the Offering
Memorandum filed with the AMF.

Disclaimer

This press release and the information it contains is neither an offer to buy
or sell, nor a call to buy or sell shares in Oxatis.

The dissemination, publication or distribution of this press release in some
countries may constitute a breach of the legal and regulatory provisions in
force. Consequently, persons physically present in such countries and in those
where this press release is disseminated, published or distributed must learn
about and comply with these laws and regulations.

This press release is promotional in nature and not a prospectus per the
Prospectus Directive.

This press release is not an offer to sell securities in the United States of
America or any other jurisdiction. The securities are not registered under the
U.S. Securities Act of 1933 as amended ("U.S. Securities Act") and cannot be
offered or sold in the United States of America without registration or
exemption from the registration requirement pursuant to the U.S. Securities
Act. Oxatis does not plan to register any securities or make any offer in the
United States of America.

As for the Member States of the European Economic Area, other than France, that
have enacted Directive 2003/71/EC of the European Parliament and the Council of
4 November 2003 into law as well as, where applicable, the amendments to that
directive (the "Prospectus Directive"), no action has been taken nor shall be
taken in order to make it possible to sell the securities discussed in this
press release, which requires Oxatis to publish a prospectus in any of the
Member States (other than France). Consequently, the securities cannot be
offered and shall not be offered in any of the Member States (other than
France), except under the exceptions provided in Article 3(2) of the Prospectus
Directive, if they have been enacted into the laws of the relevant Member
State(s), or in other cases that do not require Oxatis to publish a prospectus
under the Prospectus Directive and/or the regulations applicable in those
Member States.

This press release does not contain, nor does it constitute, an invitation,
encouragement or inducement to invest. This press release is intended solely
for those persons who (1) are not located in the United Kingdom; (2) are
"investment professionals" under the provisions of Article 19(5) of the
Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as
amended) (the "Order"); or (3) are "high net worth entities" and other persons
to whom it can be legally disclosed, under the provisions of Article
49(2)(a)-(d) of the Order (persons mentioned in (1), (2) and (3) are jointly
referred to as "Authorised Persons"). This press release may not be used or
referred to by unauthorised persons. Any investment or investment activity
related with this press release is reserved for Authorised Persons and may only
be carried out by Authorised Persons.

No copy of this press release is, nor shall be, distributed or sent, directly
or indirectly, to the United States of America, Canada, Japan, or Australia.

Do not publish directly or indirectly in the United States, Canada, Australia
or Japan

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OXATIS (EPA:ALOXA) - OXATIS ANNOUNCES THE FILING OF ITS OFFERING MEMORANDUM FOR ITS UPCOMING IPO ON EURONEXT GROWTH PARIS

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