What we achieved so far

Nod Makerspace is a
dynamic ecosystem that
welcomes designers, artists,
engineers, inventors and
entrepreneurs.
We opened on April 15,
2015 - 650 sqm.
2016: we expanded to
1050sqm.
2017: we expanded doubling
the space (2000sqm) and
created the Material Library

Key figures:
 2000 sqm
 +100 members
 1st Material Library in SE
Europe
 1 event space
 2 meeting rooms
 The team – a community built
project by visionary leaders
Florin and Tamina are the co-founders and own over 80% of the company Nod Makerspace Srl.
Beginning of 2018 for fiscal optimizations a new company Makesomespace Srl has been created, the
shareholders of the second company are the same as for NodMakerspace, and can be found below.
An NGO has been created from the very beginning to manage the relationship with companies for
sponsoring purposes (something common in all Eastern Europe) & develop cultural projects financed
through public funds. Currently the NGO is managing the Material Library and the event space.
More details about the relationship between the companies can be found in the Appendix.

Florin Cobuz 50%

Tamina Lolev 38%
Alina Potlog 4%
Mihai Bugu 2%
Nicolae Lupu 2%
Ioan Moldovan 3%
Bogdan Vatamanu 1%
 Our unique assets within the
rent24 communityMaterial
1 2 Architects & 3

Makerspace designers
community library
Through our department of
The real value of the Makerspace is MATER: the first Library of Materials in
professional services for makers, we
the community of over 120 members, South-Eastern Europe. It is unique
have developed the know how to
with expertise in urban planning, and could become an attraction
build furniture and design products
architecture, design. This community center for rent24 members from other
for coworking spaces - from scratch,
can be an invaluable asset for any countries. It is conceived for architects
ourselves.
expansion strategy of rent24 Romania and designers to consult and learn
This gives us a unique resource as well as rent24 in other CEE more about innovative materials.
(being faster, cheaper and with an countries or even worldwide. The business model of the Material
original design) in opening new
Architects and designers from our Library is to sell membership fees to
spaces. This asset will be used for
community can work with rent24 material producers in order to have
the expansion strategy in Romania
design team from the HQ for new their products featured.
as well as in other CEE countries - if
locations.
needed by rent24.
 Financial figures
There are 4 main revenue sources:
 Membership fee from coworking and makerspace - approx 130k euro in 2018
 Professional services for makers - approx 150k euro in 2018
 Membership fee from partners of the material library – approx 120k euro in 2018. These revenues are currently
invoiced on the NGO (and are not included in the table below) and could be easily invoiced for 2019 on the
company.
 In 2019 we aim to develop consistently our event management business line and achieve significantly higher
EBITDA margin.

2015 2016 2017 2018 based on H1

Revenue 59,913 203,286 241,304 280,376
Rent 40,817 79,956 111,600 111,600
Payroll 1,021 7,405 31,372 49,815
Expenses for space renovation 26,599 38,777 71,163 46,452
Other operating expenses 6,459 31,336 81,580 51,215
EBITDA (14,983) 45,812 (54,411) 21,295
depreciation, amortization 2,960 2,642 5,465 13,566
EBIT (17,943) 43,170 (59,876) 7,729
interest expense 0 0 2,687 5,098
other financial expense (lease) 0 0 1,619 1,619
EBT (17,943) 43,170 (64,182) 1,012
tax 1,797 4,494 2,871 2,558
Net income (19,740) 38,677 (67,053) (1,546)
 Nod Makerspace valuation
Based on the DCF analysis, the current value of Nod Makerspace is above 1 Million euro.
2017 2018 2019 2020 2021 2022
Forecasted revenue
growth 0 0 0 0 0
Sales revenue 362,995 462,000 558,000 686,000 844,000 1,044,000
Operating cost margin 1 1 1 1 1
Operating cost 337,366 337,500 454,200 555,600 672,000 806,400
Taxes 2,871 4,620 15,200 17,056 24,352 35,968
Net investment (%
revenue) 0 0 0 0 0
Net investment 71,163 78,000 48,000 198,000 158,000 88,000
Working capital (100,795) (30,000) 0 10,000 20,000 30,000
Change in working
capital 70,795 30,000 10,000 10,000 10,000
Terminal
value
Free cash flow (48,405) (28,915) 10,600 (94,656) (20,352) 103,632 1,779,016
Discounted cash flow (44,409) (26,528) 8,922 (73,092) (14,418) 67,354 1,156,238
Total value of the
company 1,118,476
 Growth strategy

We plan to significantly increase our revenues from our current location by: increasing the
Optimizatio
occupancy rate and increasing revenues from events management (since the space expansion,
n
the occupancy rate is about 55%).

Expansion We plan to expand our current space at the second floor by an additional 400sqm (the current
of
interior space of Gastrobar, the rooftop terrace). This will be an ideal place for hot desks and
current
cafeteria.
space
Expansion We are currently looking at new locations in Bucharest as well as in major six cities in Romania
in
(Brasov, Alba Iulia, Sibiu, Timisoara, Iasi, Cluj). For a total of 8 locations in 3 years. More details in
other
the appendix
locations
Becoming We aim to grow the creative community in Romania and become the reference for makers and
the designers in Europe. We will achieve this through the Makers accelerator, the development of the
reference
online Makershop, the development of the Creative cluster in The Cotton Industry and the
for makers
organizations of fairs for designers and makers.
in Europe
 Investment needed from
rent24
First year:
 Buyout shares from dead equity 36k
 Payment of debt (for rent):100k
 Extension of coworking 2° floor: 150k
 New coworking Sibiu : 150k
 New coworking and makerspace Bucharest 300k
 External staircase, reshape building : 50k

Second Year:
 New coworking Brasov 150k
 New coworking Alba Iulia 150k
 Co-living Sibiu : 100k
 New coworking Timisoara 150k
 New coworking Iasi 200k

Total investment needs 1,5 million euro.

Additional openings will be achieved through free cashflow for ex:
Cluj, Oradea etc.
Appendix: some of the
potential locations