Slide 1: Q1 2016 Results
Q1 2016 RESULTS Milan - April 27th, 2016
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: Q1 2016 Financial Highlights
Q1 2016 FINANCIAL HIGHLIGHTS ORGANIC GROWTH ACCELERATION AND ONGOING NETWORK EXPANSION Data in €m Q1 2016 Q1 2015 Δ% REVENUES 254.5 231.3 +10.0% Organic growth +8.1% Acquisitions +3.1% FX -1.2% EBITDA 34.0 30.3 +12.1% Margin % 13.4% 13.1% • Double-digit growth thanks to the contribution of all three
Slide 4: Key Takeaways
Q1 2016 KEY TAKEAWAYS STRONG START TO FY 2016 • Leadership consolidation and market share gains in all main countries • Steady and healthy growth (+11.2% at constant FX) • Solid organic growth, over a strong 2015 comparable basis o Network operational efficiency improvement o Higher marketing invest
Slide 5: Revenues Roadmap by Geography
REVENUES ROADMAP BY GEOGRAPHY A WELL BALANCED GROWTH ACROSS THE THREE REGIONS EMEA (66.8% of Revenues) Q1 2016: +12.6% in LC QoQ AMERICAS (19.6% of Revenues) Q1 2016: +6.2% in LC QoQ APAC (13.5% of Revenues) Q1 2016 : +11.1% in LC QoQ Q1 2016 ORGANIC GROWTH: +8.1% ACQUISITIONS: +3.1% FX: -1.2% 5
Slide 6: Financial Results by Region: EMEA
FINANCIAL RESULTS BY REGION EMEA: ACCELERATING REVENUE AND MARGIN GROWTH Data in €m Q1 2016 Q1 2015 Δ% REVENUES 169.9 151.5 +12.1% Organic growth +9.0% Acquisitions +3.6% FX -0.5% EBITDA 20.7 15.9 +30.6% Margin % 12.2% 10.5% • Strong top-line performance, well above market • Excellent organic growth
Slide 7: Financial Results by Region: Americas
FINANCIAL RESULTS BY REGION AMERICAS: SOLID PERFORMANCE DRIVEN BY MIRACLE EAR Data in €m Q1 2016 Q1 2015 Δ% REVENUES 50.0 46.3 +7.9% Organic growth +4.8% Acquisitions +1.4% FX +1.7% EBITDA 9.5 9.0 +5.7% Margin % 19.0% 19.4% • Continued positive momentum on a remarkable performance of Q1 2015 • Posit
Slide 8: Financial Results by Region: APAC
FINANCIAL RESULTS BY REGION APAC: STRONG PERFORMANCE IMPACTED BY ADVERSE CURRENCY MOVEMENTS Data in €m Q1 2016 Q1 2015 Δ% REVENUES 34.4 33.5 +2.9% Organic growth +8.4% Acquisitions +2.7% FX -8.2% EBITDA 9.3 9.7 -3.4% Margin % 27.1% 28.9% • Steady revenue growth, affected by negative FX • Exceptional
Slide 9: Q1 2016 Financials
Q1 2016 FINANCIALS ANOTHER QUARTER OF STRONG FINANCIAL RESULTS Q1 2015 Q1 2015 Δ% Data in €m (unless specified) Q1 20161 Recurring Reported Recurring REVENUES 254.5 231.3 231.1 +10.0% EBITDA 34.0 30.3 30.3 +12.1% Margin % 13.4% 13.1% 13.1% EBIT 21.4 17.7 17.7 +20.8% Margin % 8.4% 7.6% 7.6% PROFIT BE
Slide 10: Q1 2016 Cash Flow
Q1 2016 CASH FLOW FREE CASH FLOW IN LINE WITH SEASONALLY LIGHT QUARTER Data in €m 1Q2016 1Q2015 OPERATING CASH FLOW (A) 7.3 3.7 CAPEX (B) (7.8) (8.3) DISPOSALS (B) 0.1 0.6 FREE CASH FLOW (A+B) (0.3) (4.0) ACQUISITIONS (C) (5.5) (7.3) OTHER ACQUISITIONS/DISPOSALS (D) 0.0 (0.1) CASH FLOW PROVIDED BY (
Slide 11: Q1 2016 Balance Sheet
Q1 2016 BALANCE SHEET SOLID CAPITAL STRUCTURE TO SUSTAIN FUTURE GROWTH OPPORTUNITIES Data in €m 31/03/2016 31/12/2015 31/03/2015 CASH (189.0) (196.7) (208.0) SHORT-TERM DEBT 20.0 19.1 80.5 MEDIUM/LONG-TERM DEBT 382.1 382.5 388.4 NET DEBT 213.1 204.9 260.9 EQUITY 503.4 500.2 477.9 NET DEBT/EBITDA 1.2
Slide 12: 2016 Outlook
2016 OUTLOOK AMBITIOUS GROWTH PLAN FOR 2016 AND BEYOND • Overall positive market outlook • Drivers: increasing volumes with stable ASP • Continued investments to strengthen platform for long-term sustainable growth • Marketing to drive market share and penetration • Network expansion • Expected posi
Slide 13: Annexes
ANNEXES
Slide 14: Revenue Breakdown by Country
Q1 2016 FINANCIAL RESULTS REVENUE BREAKDOWN BY COUNTRY Δ% in Data in €m Q1 2016 % Q1 2015 % Δ% Δ% FX OG % local currency Italy 59.1 23.2% 51.3 22.2% 15.1% 15.1% France 30.0 11.8% 27.7 12.0% 8.5% 1.1% The Netherlands 16.5 6.5% 15.3 6.6% 7.7% 7.7% Germany 18.0 7.1% 14.0 6.0% 28.7% 6.4% United Kingdom
Slide 15: Investor Relations Contacts
INVESTOR RELATIONS CONTACTS INVESTOR RELATIONS AMPLIFON Via G. Ripamonti. 133 20141 Milano (MI) - Italy Phone: +39 02 5747 21 Fax: +39 02 5730 0033 ir@amplifon.com INVESTOR RELATIONS TEAM FRANCESCA RAMBAUDI AMANDA HART GIRALDI OLGA LEPECHKINA Investor Relations Director Investor Relations Analyst As