Tuk Tuk Holding BV
Our trade name actually says it all: Tuk Tuk Factory designs, builds and sells tuktuks. To be precise: electric tuk tuks: e-Tuks. Vehicles on three wheels, to transport people (tourists, passengers or guests), or to transport or sell goods (such as ice cream, beer, soft drinks or coffee). Tuk Tuk Factory currently sells eight models of vehicles. Our e-Tuks are eye candy. They attract attention, are adventurous and always bring a smile. For the buyer/owner of the e-Tuk, this means: more advertising, more customers, more turnover and more profit. And last but not least: e-Tuks are sustainable. Every one of our vehicles contributes to a quieter and cleaner environment.
GET ON BOARD
Electric transport is on the rise worldwide. Lightweight electric transport is the solution for inner-city transport and last mile transport. Tuk Tuk Factory is the largest maker and distributor of electric tuk tuks in the world. Our 'fun and friendly' vehicles are currently driving in more than 30 countries. We are growing very fast and our ambitions are great.
Invest in Tuk Tuk Factory, receive a sustainable return and contribute to a clean, electric future. Tuk Tuk Factory has a unique leading position in the market.
Sustainable investing
We want to make an impact. An impact on our environment. Leaving the world cleaner than we found it. But in a sustainable way. And sustainable for us also means commercial. Making a profit and standing on your own two feet is therefore important.
We are not dependent on subsidies. Almost all our customers do not receive a subsidy for the purchase of their e-Tuk. Finally, our vehicles are charged with electricity from the socket. So no dependence on charging stations, networks, power, or anything else.
Electric transport is sustainable. It does not emit any harmful or pollutants. This immediately makes the cities in which our tuktuks drive around a bit cleaner. If our vehicles are also charged with electricity generated from sustainable energy, such as solar and wind energy, fossil fuels and nuclear energy are completely unnecessary. With every tuk tuk sold we get a little closer to our goal every day. This also applies to this bond loan. We want to grow even faster with a successful issue.
Growth
After a start-up period of several years, Tuk Tuk Holding BV has been profitable at a consolidated level since 2014. Both the consolidated turnover and the EBITDA operating result show strong growth. Tuk Tuk sees plenty of opportunities to grow further!
Tuk Tuk Factory received the largest order in its history in May 2016. This concerns a starting order (€715.000) for 50 vehicles for Madrid for the company Preserve Fantasy. In 2012, a customer ordered on average just over one vehicle per order. Currently that number is on average more than 15 vehicles per order.
Over the years 2014, 2015 and 2016 (forecast), annual turnover grew by 171%, 154% and 172% respectively. Viewed over two years, the growth in turnover for the years 2013 to 2015 is 264%. The subsequent two-year period, 2014 to 2016 (forecast), also shows an increase of 264%. The EBITDA increase in 2016 (forecast) compared to 2015 is expected to be 213%. The EBITDA is therefore growing faster than expected turnover increase over this period (172%).
Our company achieved strong revenue growth in the first three quarters of 2016. The table above provides an overview of the provisional, consolidated figures of Tuk Tuk Holding BV. These interim financial data have not been audited by an accountant. This is expressly provisional financial data; these figures may still change during the financial year.
Structure
Tuk Tuk Holding BV is the holding company of the Tuk Tuk companies. Tuk Tuk Factory develops and sells the vehicles both directly and through distributors in the Netherlands and abroad. Tuk Tuk Factory purchases the vehicles from the Thai subsidiary Green Wheels Ltd. Thai Green Wheels is located in Thailand. The high level of knowledge and low costs in Thailand make this a strategically favorable production location.
Entrepreneurs
We have a management team consisting of four people. With experience in electric transport since 2008, we are experts in this young, growing market.
Roland Vos
Chief Executive Officer
A strong entrepreneur, driven to turn sustainable innovation into a profitable company with a global impact.
Trained by Unilever, disciplined by InBev.
Core competencies:
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Development
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Sourcing
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Strategic innovation
- Worldwide rollout
Chief Technology Officer
Cum laude industrial designer TU Delft. Car fanatic through and through. A creative mind that walks off the beaten track.
McKinsey capacity focused on the development of electric vehicles.
Core competencies:
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Engineering
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Design & Development
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Creative
- Functional
Chief Operations Officer Thailand
Complete dedication to a well-oiled production facility in Thailand. Expat Entrepreneur Award: Manufacturing in 2014.
A builder and connector, gentle with people, tough on results.
Core competencies:
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Product Integration
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Social
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Pragmatic
- Hands-on
Sales Director
Approach customers the way you would like to be approached. Always positive and cheerful, with a social skillset and language skills.
A social salesperson by nature, polished in the SNS Bank talent development program.
Core competencies:
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Emphatic
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Social
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Deal maker
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Coaching
Global market
Based on our own research from many external and independent sources, we expect the market for electric transport to grow explosively in the coming years. The global commercial lightweight vehicle market ranges from 14-20 million vehicles per year, or US$240 billion. About 90% of this market is in Asia and Europe. The global three-wheel passenger motor vehicle market is approximately 1 million vehicles per year. We expect this market to be largely electric within 10 years. So on the one hand there is a large growth market to distribute and on the other hand a lot of ground can be gained on the replacement market. We are already seeing the banning of petrol and diesel engines in city centers in effect and will only increase. This offers maximum opportunities for lightweight electric vehicles.
We are at the dawn of a new clean, sustainable and electric reality. Tuk Tuk Factory and its vehicles, which have been developed for the specific needs of the different market segments, are ready for it.
Market segments
We focus on the Tourist & Taxi, Professional, Guest Transport and Sales markets. Tourist & Taxi speaks for itself. By Professional we mean postal and parcel deliverers or distribution services of hotels, airports and restaurants. Guest transport focuses on passenger transport at airports, from hotel chains, resorts, villa and amusement parks or campsites. Sales focuses on companies active in the sale of products such as coffee, beer, ice cream, soft drinks and snacks, but also on restaurants and even non-food companies that want to market their products or services in a unique way (theaters, sports clubs). , banks, insurers, telephone or energy companies). Tuk Tuk Factory expects all these market segments to grow.
Competition
Most of our competitors do not produce passenger transport vehicles (e.g. Aixam and Goupil). We find the costs for their electric vehicles for freight transport relatively high and we expect that their production costs can hardly decrease because the assembly takes place in France.
Piaggio and GEM do produce passenger transport vehicles. The costs of Piaggio's electric tricycle are higher than those of our electric tuk tuks (both in purchase and maintenance), it has a smaller range and can only accommodate three passengers. GEM vehicles operate almost exclusively in the United States of America, and the costs of these vehicles are higher compared to our tuktuks.
In addition to the practical benefits, our vehicles have another unique feature: a cheerful, friendly and eye-catching vehicle. And that is worth money to our customers.
Main customers
All customers are important to us. A few years ago, Tuk Tuk Factory mainly sold to independent entrepreneurs and small companies. We now supply to small and medium-sized businesses and even to the first multinationals such as McDonalds, Google, HMS Host, eBay, Heineken and Anantara resorts in Dubai.
Important milestones
Loan purpose
By selling the bonds we borrow money from investors. We will use that money to continue to grow rapidly. This requires investments. Investments in:
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Marketing and sales activities: new employees, advertising, trade fairs and distributors (€530.000)
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product development: new employees, further development of existing and new vehicles and the development of a 4-wheeled vehicle (€ 535.000)
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IT: new employees automation of processes, information, work and goods flows (€ 250.000)
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Growth capital (working capital and costs related to growth (€ 1.014.000)
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Restructuring an existing loan: early repayment of a loan from one of our shareholders to create room to attract a bank loan (€ 170.000)
We are growing very fast and our ambitions are great. Invest in Tuk Tuk Factory, receive a sustainable return and contribute to a clean, electric future. Get on board!
Risks and certainties
Investing always involves risks. The main risk you run is that Tuk Tuk Holding BV has no money to pay you or to pay the interest. This could be the case if the forecasts are not or insufficiently realized. Then you may not receive any repayment of the loan and you will not receive any interest. No further guarantees are provided. For the complete risk analysis, we refer you to the prospectus.
