Let´s GOWEX - Shareholder bulletin October 2012


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GOWEX (GOW-MAB, ALGOW-NYSE Alternext) it’s been 13 years operating in the Telecommunication sector and it’s currently leading the creation of WiFi Cities offering Free & Premium WiFi connectivity in streets and transportation. The company is now exporting the innovative business models in many cities in Europe, Latin America, Asia and in emerging countries.

In 2010, it has become the first and only Spanish SMB to make a “dual listing”, publicly traded in the MAB (GOW) and the NYSE-Euronext (ALGOW). The company's total revenue in 2011 amounted to 66.7 million Euros. On July 2011 GOWEX subscribed a 7 million € capital increase with a 100 % over-demand (doubling expectations).

With offices in Madrid, Burgos, Buenos Aires, London, San José (Costa Rica), Paris and Shanghai, GOWEX develops a sustainable business model in their WiFi networks, based in efficient and technical quality of their patented platforms: The Roaming platform, which allows users to connect freely in all the cities, the Geolocalization Content and Advertisement platform, which provides a financing business through marketing and advertisement agreements.

In 2011, GOWEX joined the Wireless Broadband Alliance and received a prize for the “Best Web Company” in the Internet Day

In February 2012, Jenaro Garcia GOWEX CEO, received the “Entrepreneur of the Year Award” by Ernst & Young in the category of Innovation

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Let´s GOWEX - Shareholder bulletin October 2012

  1. 1. SHAREHOLDER BULLETIN October/12 When winds of change blow, some build walls while others build windmills – Old Chinese Proverb.
  2. 2. SHAREHOLDER BULLETIN Wireless Environment 3 1H 2012 Results 4 Shareholders structure 6 GOWEX Target price 7 Stock quote evolution in NYSE Alternext 8 Market Cap. In NYSE Alternext 9 New GOWEX Website 10 New Shareholders Website 12 What shareholders have to say 13 Let´s GOWEX News 14
  3. 3. Wireless EnvironmentThe data traffic capacity will be multiplied by 5 between 2015and 2016, while the use will do it in ratios of between 5 and 23times. That strong begins the "Mobile Paper Data Blue Wave (2)Morgan Stanley“report *By region these growths are not going to be thePareto: the 80-20 rule same in all regions:Networks comply "Rule of Pareto 80/20" where concentration ofuse is concerned, in other words, 20% of the base stationsloads 80% of the data traffic. And more specifically 1% ofsubscribers to mobile data rates provide 24% of mobile data trafficThis rule can be extrapolated to the age of the users, refers, 50%of users are between 15 and 35 years old, and generate 75% oftotal data traffic, according to the report of Morgan Stanley.A report from Cisco (Cisco Visual Network) anticipates that by2016, the Internet-connected tablets will generate nearly asmuch traffic data as the entire global mobile network in 2012.This data gives us an idea of ​the potential of the wireless world,and therefore all companies that are related to this technology.GOWEX has opted for this technology as the technology to bringall citizens access to the "information society", a right that allcitizens should have for free. Source: Cisco VNI Mobile, 2012
  4. 4. 1H 2012 ResultsTurnover: GOWEX REACHED IN THE FIRST HALF OF 2012 A TURNOVER OF € 40,984,678, EARNING A PROFIT OF € € 40,984,678 5,457,525.Gross Margin: GOWEX closed the first half of 2012 with a turnover of € 40,984,678 which represents an increase of 60% over the same € 17,588,740 period in 2011. GOWEX has maintained during the first six months a greatProfit Before Tax income-generating capacity, which has helped to achieve a net profit of € 5,457,525, up 68% on the first half of 2011. € 7,799,283 GOWEX President, Jenaro Garcia has pointed that “these achievements are the result of the internationalization processNet Profit: being carried out and allowing the consolidation of innovative business models in the Wireless telecommunication € 5,457,525 environment.”
  5. 5. Balance (thousand €) 06/30/2012 1H 2012 ResultsTotal Asset 65,248 WITH EQUITY OF 61% OF TOTAL LIABILITIES AND LIQUIDITY RATIO OFEquity 39,661 3.042, GOWEX IS POSITIONED AS A COMPANY WHIT A SOLIDROI 0.138 FINANCIAL STRUCTURE.Liquidity Ratio 3.042 1H 2012 1H 201135% 22,897,138 40,083,709 61% 19% 8,943,920 25,012,348 54%65% 42,351,284 81% 37,378,401 4,741,200 10% 11,243,141 17% 16,568,773 36% 13,921,572 21% € 65,248,422 € 65,248,422 € 46,322,321 € 46,322,321 Balance sheet 1H 2012 & 1H 2011
  6. 6. Shareholders30% - Cash Devices S.L11% - Alvasebi S.L. 29% - Biotelgy VC, S.A. 30% -Free Float Structure The social capital of the Company of the parent company amounted to € 646,716.40, divided into 12,934,268 shares of a € 0.05 value each one. Fully subscribed and paid. Pertaining to a single class and series, which gives identical voting and dividend rights and are represented by the book entries.
  7. 7. mar,10 abr, 10 abr, 10may, 10 jun, 10 GOW jul, 10 ago, 10 ago, 10sept, 10 oct, 10 nov,10 dic, 10 ALGOW dic, 10 ene, 11 feb, 11mar, 11mar, 11 abr, 11 T.Pricemay, 11 jun, 11 jul, 11 jul, 11 ago, 11sept, 11 oct, 11 nov, 11 nov, 11 dic, 11 ene, 12 feb, 12 feb, 12mar, 12 abr, 12may, 12 jun, 12 jun, 12 jul,12 ago,12 sep, 12 oct, 12 2 4 6 8 0 10 12 14 GOWEX Target Price
  8. 8. Stock quote evolution: Comparison with CAC-40Temporal Evolution (Yield in%) analysis period: GOWEX – CAC-40 10/24/2011 a 10/24/2012
  9. 9. Market Cap. in AlternextQuotation during 2012Number of shares (units) 12,934,268Average daily Hiring (shares) 13,400 "GOWEX is the fourth company of NYSE Alternext,Average daily trading volume (€) 94,028 according to marketMax.(€) 12.58 capitalization"Min. (€) 4.62A t market close (€) 10/24/2012 12.10Market Cap. (€) 156,504,640 Updated data to 10/25/2012 Market Cap. of the largest 20 companies in Alternext500 in million €400300200 158100 0
  10. 10. GOWEX New WebA new design for a new GOWEXAs with everything in life, it’s important to recycle and reinventyourself to improve. In GOWEX, our latest venture in this directionhas recently come to light with a new website. Our new design,much more daring, fresh and functional wants to establish a directcommunication channel for users, media, social networks and, ofcourse, shareholders and investors.In the section Shareholders and Investors you will find all the financial information of the company: from the share price of GOWEX, thelast relevant facts in MAB and Alternext published to the shareholders meeting call and shareholders meeting agreements or publication ofresults.Beyond this information, you can follow the latest news and the most important projects we are developing across five continents, contactus directly, follow our steps in social networks or marvel at the advantages and opportunities offered by the Wireless Smart Cities ®.
  11. 11. GOWEX New Web New functionalities: dynamism and updates Press Room SectionFollow GOWEX News:• Learn about the projects that have led us to be leaders in creating WiFi Cities• Do you think you live in a true Wireless Smart City? Discover it!• Download the latest multimedia and financial and sector reports• Visualize interviews with our executives or follow the clipping of our media appearances• Become a fan or follow us on our social networks….. Talk to us, we listen to you. "A renewed open communication channel to all shareholders of the Company" http://www.gowex.com/en/press-room/
  12. 12. GOWEX New Web Shareholders and Investors Section  New functionalities: dynamism and updates Shareholders and Investors Section In our new section Shareholders and Investors may: • Follow GOWEX quote both in MAB and in NYSE Alternext • Contact directly with our IR department: Investor Relations • Download GOWEX Coverage Reports from different analysts • Knowing the last, relevant facts in MAB and the Press Releases in Alternext • Download and share documentation "Indispensable for the Shareholder" - … "A renewed open communication channel to all shareholders of the Company“http://www.gowex.com/en/investors-shareholders/alternext/lets-gowex/
  13. 13. What shareholders Through which "Through the blog of Juan Sainz media did you discover GOWEX? de los Terreros: http://juanst.com/ have to say Carlos J. Cabello Do you know thedifferent markets in Yes, in the MAB and in the Alternext, and I have seen which GOWEX that it has been called an EGM proposal to start shares are traded? trading in the U.S. through an ADR program. Nuria Oubiña Do you follow I follow it every day, through ¿Are you satisfied Yes, I think you are one of the the press, in MAB, Twitter, few in MAB taken seriously routinely GOWEX with our digital media, and stock communication with its quote? Through communication market forums, Invertia.com investors. what media? and boursorama.com with investors? Juan Sainz Ignacio BernabéuDid you attend any I was fortunate to attend the Annual General Meeting in 2012 and the experience was General Meeting? fantastic. The company decided to do it in their headquarters and was a hit. An informal atmosphere in which there was great interaction between the company management and shareholders. A day dedicated to the shareholder that I personally can’t thank enough. I will try to repeat. Alejandro Martín
  14. 14. News"GOWEX signs an agreement "GOWEX continues to expand "The free WiFi GOWEX landed inwith SNCF to offer free WiFi in and is awarded the WiFi Paris"the main train station in network in Dublin" Dirigentes DigitalMarseille" Cinco Días Gowex has awarded the management Since today, citizens and tourists canel Economista of the public wifi in Dublin, a city that connect for free in 48 transit stations,GOWEX has signed an agreement with houses the European headquarters of which will have WiFi access Smart Zonesthe French national railway company groups such as Google and Facebook. in 66 indoor and outdoor public spaces(SNCF) to offer its free WiFi service in The project, which will start in such as squares and boulevards next.the main train station in Marseille. December, involves the introduction The 4.5 million daily passengers using of a network connection with 60 the Paris metro can access with their points. Thus, there are now more than mobile devices to the Internet for free.Thus, under this agreement, morethan 15 million passengers per year, 60 cities around the world wherethe station "Marseille St. Charles" will Gowex is present.enjoy free WiFi 24 hours. "To GOWEX urban and intercity transport is an integral part of the Wireless Smart Cities ® therefore We prevail a rapid growth of these projects. In less than two years we have added a total of 16 agreements worldwide," says GOWEX CEO, Jenaro Garcia Martin
  15. 15. News"Wall Street will help Capital Increase "GOWEX increases its GOWEX plans to undertake a turnover by 60% in the firstGOWEX to be a giant " capital increase to create newExpansión shares to be referenced on the half, up to 40.98 million ADR in New York. The magnitude euros"The Spanish company GOWEX of the expansion will be decidedspecialized in applying WiFi foreseeably, at the meeting oftechnology in different parts of the EuropaPress shareholders to be held on GOWEX recorded a turnover of 40.98city, plans to go public on the U.S. next November 5. It is "highly probable"year. It will do it through an ADR million Euros in the first half of the year, that the agenda items are representing an increase of 60%(American Depositary Receipt). approved, Jenaro Garcia trusts. compared to the same period of 2011. "The amount should be sufficient The company attributed the increase toThis mechanism allows a foreign to cover the strategic plan," sums.company to issue shares in the U.S. the "growing demand for recurring The price of new GOWEX titles, yet services offered" and thestock market directly. In that case, the determined, will cost over 10ADRs representing the evolution of internationalization process that has euros which is what the company been developing for years, according tothe shares on the Mercado alternativo is quoted at present.Bursátil (MAB) in Madrid and the the firm of promoting "Wireless SmartParisian Alternext, the two markets Cities®".where the company is listed atpresent. Follow the news of GOWEX through our Twitter account @gowex on https://twitter.com/gowex
  16. 16. Shareholder ServicesGOWEX Spain (Headquarters)Paseo de la Castellana, 2128046 Madrid (Spain)T.+34 91 360 14 70By e-mail: ir@gowex.comBy phone: +34 670 738 579
  17. 17. Investors & Shareholders ContactFlorencia Maté GarabitoInternational Communications Manager &Investor Relations+34 670 738 579fmate@gowex.com Javier Solsona Piera Investor Relations & Corporate Area +34 638 780 690 jsolsona@gowex.com Alicia Viñas Díaz Investor Relations & Corporate Area +34 91 360 14 70 avinas@gowex.com