Slide 1: H1 2019 Results
HI 2019 Results Milan, July 30t*, 2019 amplifon
Slide 2: Disclaimer
Disclaimer The information contained herein and other material discussed during the conference call, particularly the ones regarding any possible or assumed future performance of the Amplifon Group, are or may be forward looking statements and in this respect they involve some risks and uncertaintie
Slide 3: Q2 & H1 2019 Key takeaways
Q2 & HI 2019 Key takeaways Excellent momentum continues = Continued outstanding top-line growth (Q2 2019: +24.7% in LC; HI 2019: +25,0% in LC) » Strong organic growth, above market and further improving in Q2 (+5.6%) * Extraordinary contribution from M&A * Continued excellent performance of Spain *
Slide 4: Q2 2019 Financial highlights
Q2 2019 Financial highlights Outstanding performance across the board, supported again by Spain's excellent results = Another quarter of excellent top-line growth of ~+25% in LC, Q2 2019 2 2018 A% — 8 ° despite negative impact from IFRSI5 (~I%) Data in €m w/IFRSI6 ~~ w/o IFRSI6 w/o IFRSI6 * Strong o
Slide 5: H1 2019 Financial highlights
Hi 2019 Financial highlights Excellent half-year results HI 2019 HI 2018 A% Data in €m W/IFRSI6 ~— w/o IFRSI6 w/o IFRSI6 REVENUES, 832.0 832.0 659.6 +26.1% Organic growth +4.8% Acquisitions +20.2% FX +11% EBITDA Rec. 186.6 141.2 109.9 +28.4% Margin % 22.4% 17.0% 16.7% Outstanding top-line growth of
Slide 6: Financial results by Region: EMEA
Financial results by Region EMEA: outstanding performance boosted by organic growth acceleration in Q2 and by the excellent results of Spain = Outstanding revenue growth of ~+31% in LC HI 2019 HI 2018 A% _ ° «Strong organic growth at +5.5% (excluding GAES), above market Data in €m w/IFRSI6 w/o IFRSI
Slide 7: Financial results by Region: Americas
Financial results by Region AMERICAS: strong top-line and excellent profitability improvement HI 2019 HI 2018 A% Data in €m w/IFRSI6 — w/o IFRSI6 w/o IFRSI6 REVENUES 131.9 131.9 109.3 +20.6% Organic growth +2.3% Acquisitions +1L4% FX +6.9% EBITDA Rec. 2911 27.0 20.8 +29.6% Margin % 22.1% 20.5% 19.1%
Slide 8: Financial results by Region: APAC
Financial results by Region APAC: robust and above-market sales performance; profitability reflecting lower fixed cost absorption HI 2019 HI 2018 A% Data in €m w/IFRSI6 — w/o IFRSI6 w/o IFRSI6 REVENUES 91.0 91.0 86.1 45.7% Organic growth +3.4% Acquisitions +3.4% FX HLI% EBITDA Rec. 273 221 23.6 6.4%
Slide 9: Q2 2019 Financial results
Q2 2019 Financial results Outstanding increase in Net Profit Recurring by ~+30% and EPS Adjusted by ~+36%, fostered by improved operating leverage, financial expenses and tax rate bata iném_ Q2 2019 w/IFRSI6 Q2 2019 w/o IFRSI6 2 2018 A% Rec. w/o (unless specified) Recurring Reported Recurring Report
Slide 10: H1 2019 Financial results
Hi 2019 Financial results Delivering excellent results in all P&L items; Net Profit ~+32% and EPS Adjusted ~+38% dota in €m HI 2019 w/IFRSI6 HI 2019 w/o IFRSI6 412018 A% Rec. w/o (unless specified) Recurring Reported Recurring Reported IFRSI6 REVENUES 832.0 832.0 832.0 832.0 659.6 +26.1% EBITDA! 186
Slide 11: H1 2019 Financial results: cash flow
Hi 2019 Financial results Excellent cash flow generation: Operating Cash Flow recurring over +50% vs HI 2018 Data in €m HI 2019! HI 2018? A Operating cash flow before repayment of lease liabilities 139.5 70.4 69.0 Repayment of lease liabilities (39.7) - (39.7) Operating cash flow 99.8 70.4 29.4 Cape
Slide 12: H1 2019 Financial results: net debt
Hi 2019 Financial results Net Debt stable vs YE 2018 with Net Debt/EBITDA reducing to 2.23x Data in €m 30/06/2019 31/12/2018! Cash (128.8) (89.9) Short-term debt 157.7 53.1 Medium/long-term debt 812.2 877.7 Net financial debt 841.1 840.9 Lease liabilities 436.0 - Total financial debt & lease liabili
Slide 13: 2019 Outlook
2019 Outlook Strong momentum to persist = Entering H2 with a very strong HI behind * Overall positive market outlook * Positive and above market sales momentum expected to continue * Contribution from all Regions * Solid organic growth * Spain expected to continue performing strongly = Contribution
Slide 14: Investor Relations Contacts
Investor Relations Contacts FRANCESCA RAMBAUDI AMANDA HART GIRALDI PAOLA BEZZI OLGA LEPECHKINA Director Specialist Junior specialist Assistant Tel: +39 02 5747 2261 Tel: +39 02 5747 2317 Tel: +39 02 5747 2310 Tel: +39 02 5747 2542 re re i MH amanda.giraldi@amplifon.com paola.bezzi@amplifon.com olga.