Slide 1: GVS SPA – Filter Technology
FILTER TECHNOLOGY GVS SPA 22.03.2022
Slide 2: Agenda
Agenda 1 YTD Dec 2021 Outlook 2 Company Presentation Appendix: Additional Materials This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 3: YTD Dec 2021 GVS Performance Highlights
YTD Dec 2021 GVS Performance Highlights Sales: 338 M€ +9% on 2020, adjusted by the disposable mask contribution due to Covid 19 in 2021 and 2020 • Q4 2021 stronger than Q3 and in line with expectations with the only exception of the E&M trend which reflect the production difficulties of GVS’s custom
Slide 4: YTD Dec 2021 Adj Sales – net of Disposable Mask contribution
YTD Dec 2021 Adj Sales – net of Disposable Mask contribution 363 338 144 108 27% 40% 32% • +12% Sales CAGR 2019-2021, excluding the disposable masks turnover from the total to neutralize the Covid 19 impact, half part is organic and half part is due to the realized M&A addition in the last two years
Slide 5: YTD Dec 2021 Evolution of Sales
YTD Dec 2021 Evolution of Sales TOTAL SALES YTD Dec 2021: 338,1 M€ -7% vs 2020 The Healthcare & Lifesciences division confirms the positive trend of growth compared with the previous year. The Energy & Mobility division slowed down at the end of the year due to the supply chain difficulties in the m
Slide 6: Key Financial Highlights — EBITDA and EBIT
Key Financial Highlights — EBITDA and EBIT ADJUSTED EBITDA1 (€M) KEY COMMENTS Adjusted EBITDA: % on Sales • FY 2021 adjusted EBITDA reduced vs the FY 2020, due to: • the reduction of disposable masks in the mix of product sold; • the increase of finish products inventories, with av. cost valorizatio
Slide 7: Key Financial Highlights — Net Income, Fin. Exp. & Taxes
Key Financial Highlights — Net Income, Fin. Exp. & Taxes NET FINANCIAL EXPENSES EXCL. FX GAINS/LOSSES (€M) TAXES (€M) % on Sales % EBT ADJUSTED GROUP NET INCOME1 (€M) KEY COMMENTS % on Sales • Net Financial expenses at 2 M€ in 2021 registering a strong reduction compared to 2020, even considering th
Slide 8: Key Financial Highlights — CapEx, TWC and R&D
Key Financial Highlights — CapEx, TWC and R&D CAPEX1 (€M) TRADE WORKING CAPITAL (€M) % on Sales % on LTM Sales R&D2 (€M) KEY COMMENTS % on Sales • About 23 M€ as Capex, net of extraordinary activities, related to the new production lines and maintenance, with a trend in line with the normal ongoing
Slide 9: Key Financial Highlights — Net Financial Position
Key Financial Highlights — Net Financial Position NET FIN. INDEBTEDNESS (€M) AND CASH CONVERSION1 Cash conversion 74.7% 78.9% 78.2% 78,5% NFP / Adj EBITDA KEY COMMENTS NFP increased up to 107,8M€ due to the last RPB acquisition Leverage on 1x level Final Cash Conversion confirmed the 78% result of t
Slide 10: Key Financial Highlights — Net Financial Position
Key Financial Highlights — Net Financial Position NET FIN. INDEBTEDNESS (€M) BRIDGE 2021 VS 2020 KEY COMMENTS NFP has increased due to the last RPB acquisition up to 107,8M€: • RPB Acquisition 129,2M€ cash + 18,9 M€ as definitive earn-out. • Operative Cash flow generation about 92 M€ in the period w
Slide 11: Visibility on Future Performance
VISIBILITY ON FUTURE PERFORMANCE GVS will keep the focus on the operations and M&A activities. The stand alone forecasts will confirm the historical trend of organic growth expected at +11% up to 2025 (vs a +7% market average) with an higher trend in terms of EBITDA margin due continuous cost impr
Slide 12: Visibility on Future Performance
VISIBILITY ON FUTURE PERFORMANCE • GVS will keep the focus on operations and M&A activities. • The forecast including also new expected M&A contribution will increase to CAGR 2019-2025 up to +18% reaching the top of the Peers market. • 32% of Adjusted EBITDA margin represents the target that GVS a
Slide 13: 2022 Geo-Political Risks
2022 Geo-Political Risks Business continuity is highly susceptible to tensions in the actual international geo-political scenario. Tensions between countries generate geo-political risks that can create a detrimental outcome for businesses from a financial and operational perspective. GVS is monitor
Slide 14: Update on GVS Business: 2022 Focus
UPDATE ON GVS BUSINESS 1 M&A pushing in different geographic areas, with main focus on HC&LS. 2 ESG Focus: Stakeholders engagement & Carbon neutrality 3 Launch of new Products for each Commercial Division GVS 4 Geographical Expansion new commercial officies in Asia YTD 2022 5 Improve our lean philos
Slide 15: Agenda
Agenda 1 YTD Dec 2021 Outlook 2 Company Presentation Appendix: Additional Materials This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 16: Presentation
PRESENTATION FILTER TECHNOLOGY "ENERGY & aa 7 Soo"
Slide 17: Board of Directors
BOARD OF DIRECTOR Grazia Valentini Massimo Scagliarini Marco Scagliarini Chairman CEO VP Energy & Mobility Matteo Viola Mario Saccone Nadia Buttignol COO CFO Indipendent Director Arabella Caporello Alessandro Nasi Michela Schizzi Indipendent Indipendent Indipendent Director Director Director This do
Slide 18: Key People
KEY PEOPLE Massimo Scagliarini Mario Saccone Matteo Viola CEO CFO COO 37 years in GVS 26 years in GVS 13 years in GVS • In GVS since 1985, started as Sales Manager • MBA from Profingest Management School, • In GVS since 2008, started as controller and and currently serves as CEO Bologna, Italy curre
Slide 19: GVS provides advanced filtration solutions for critical applications
GVS provides advanced filtration solution for critical application in Highly-regulated end markets Our TECHNOLOGY supports LIFE and guarantees SAFETY in the most CRITICAL ENVIRONMENTS This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this d
Slide 20: GVS economic and production improvement over the last years
GVS economic and production improvement over the last 40 years *51M disposable mask sells * 1979 1984 1989 1994 1999 2004 2009 2012 2015 2018 2019 2020 2021 This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information
Slide 21: Head Office and manufacturing facilities based in Italy
The Head Office and 3 manufacturing facilities are based in Italy This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 22: GVS production facilities in worldwide locations
GVS has 17 production facilities, in several worldwide locations ROMANIA UK (1 PLANT) (1 PLANT) US (5 PLANTS) ITALY (3 PLANT) CHINA (4 PLANTS) PORTO RICO (1 PLANT) MEXICO (1 PLANT) BRAZIL (1 PLANT) Presence with production plants Offices Indirect sales This document and all its contents are property
Slide 23: Core Competences
GVS evolved from a small healthcare components supplier into a global diversified filtration group Solutions Focus Biology Product CORE COMPETENCES Focus Chemistry Chemistry Process Focus Automation Automation Automation 1979 ’90-’00 2012 Today Origin in healthcare Development and international Main
Slide 24: M&A Transactions Since 2009
16 M&A TRANSACTIONS SINCE 2009 Adding capabilities and strengthening presence across China, the UK and North America Haemonetics Nypro M. BU Puerto Rico LLC Healthcare Filtration Graphic Nhion Nypro Controls Sales licenses in Japan Germa Remploy Personal safety Medical Filtration EPA Laboratory Filt
Slide 25: Divisions and Products Line
Divisions and Products Line Healthcare & Life Sciences Health & Safety Energy & Mobility Healthcare & Liquid Personal Safety Powertrain & Drivetrain IV Vent Fuel pressure Flow Filters caps regulators Urea SCR filters Gasoline-diesel-urea Regulators Blood Transducer Disc filters PPE – Elipse fa
Slide 26: End Markets
Diversified blue-chip client base 2021A Revenues Division Breakdown1 (%) Illustrative example of companies requiring filtration solutions2 Healthcare Air & Gas 14% Healthcare & Life Healthcare Liquid 30% Sciences Laboratory 9% Personal Safety End Markets 24% Health & Safety Air Safety 2% Powertrain
Slide 27: Divisions differentiate for an integrated and synergistic business model
GVS’s divisions differentiate for an integrated and highly synergistic business model Healthcare Healthcare Energy & Life Sciences & Safety & Mobility Sales and Distribution Similar stringent approval processes Common Manufacturing processes and technologies High quality standards required Shared R&
Slide 28: Strong focus on innovation and customer satisfaction
Our success is based on strong focus on innovation and customer satisfaction 7 ~6% 53 104 ~80 R&D centers with chemical and biological Of sales Patents for proprietary Highly skilled R&D External quality audits know-how in R&D products professionals p.a. International quality certificates Preferred
Slide 29: Quality Certification
QUALITY CERTIFICATION GVS has obtained several Quality Certification, from several Certifiation Body This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely f
Slide 30: An ESG-Compliant Organization
AN ESG-COMPLIANT ORGANIZATION ENVIRONMENTAL SOCIAL GOVERNANCE 1 2 3 • UNI EN ISO 14001 certification for • Support of a range local • Ethics Code Environmental Management charitable and non-profit • Board of Statutory System (EMS) organizations auditors with 3 • Group environmental policy with • Chr
Slide 31: An ESG-Compliant Organization
AN ESG-COMPLIANT ORGANIZATION “ The ability to do business in an innovative and sustainable way, to facilitate the ecological transition and to enhance the value of people, are one of the pillars of GVS ” Group's strategy. This document and all its contents are property of GVS. All unauthorised use,
Slide 32: Strategic Goals Setting
STRATEGIC GOALS SETTING WE BRIDGE RELIABILITY WITH TOMORROW’S TECHNOLOGY FOR A SUSTAINABLE FUTURE This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forb
Slide 33: Agenda
Agenda 1 YTD Sep 2021 Outlook 2 Company Overview Appendix: Additional Materials This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 34: Key Financial Highlights — Income Statement
Key Financial Highlights — Income Statement Note: margins calculated on revenues from contracts with customers excluding other income This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by any
Slide 35: Key Financial Highlights — Adjustments Overview
Key Financial Highlights — Adjustments Overview Non recurring costs (income) Note: margins calculated on revenues from contracts with customers excluding other income. This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the i
Slide 36: Key Financial Highlights — Balance Sheet
Key Financial Highlights — Balance Sheet 1 Includes also the item Current Financial Assets. This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 37: Key Financial Highlights — Cash Flow Statement
Key Financial Highlights — Cash Flow Statement This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 38: Basis of preparation of financials
Basis of preparation of financials • Financial Overview slides present consolidated and division financial information of GVS S.p.A. and its reporting units • The financial information has been prepared in accordance to IFRS • Due to rounding, numbers expressed in millions throughout this section ma
Slide 39: Disclaimer
DISCLAIMER Pursuant to art. 154-bis, paragraph 2, of the Italian Unified Financial Act of February 24, 1998, the executive in charge of preparing the corporate accounting documents at GVS S.p.A., Emanuele Stanco, declares that the accounting information contained herein correspond to document result