Sesa S.p.a. · MIL:SES
Sesa — Mid & Small in London 2021
28 slides from Sesa's conference presentation, Apr 20, 2021
Slide 1: Corporate Presentation - Mid & Small in London 2021
Corporate Presentation MID & SMALL IN LONDON 2021 April 20-21, 2021
Slide 2: Business model evolution and strategic achievements
Alessandro Fabbroni - Chief Executive Officer Conxi Palmero - Investor Relation Manager Business model evolution and strategic achievements Group Results and achievements as of January 31, 2021 (9M) and FY 2021E Market trend and long term sustainable growth Group Structure and Business Sectors VAD,
Slide 3: Business Model evolution and Strategic Achievements
Business Model evolution and Strategic Achievements • FY 2021E Eu 2 Bn consolidated revenues and Eu 126 Mn EBITDA +33% Y/Y (EBITDA margin 6%) Organic growth embracing • Long-term continuous growth CAGR 2011-21E: Revenues +10.5%, EBITDA +13.8%, EAT Adj +17.5%, HR +15.6% new digital trends • Human
Slide 4: Organic growth embracing new digital trends
Organic growth embracing new digital trends Human resources development as strategic driver of Digital Enabler of Italian enterprises Group sustainable long-term growth • Focus on main digital innovation trends: Cloud, Security, Analytics, Cognitive, Collaboration • 75% of historical growth is org
Slide 5: M&A as acceleration driver of organic growth
M&A as acceleration driver of organic growth Calendar Year 2015 - 2017 Calendar Year 2018 - 2019 Calendar Year 2020 Calendar Year 2021 FY April 30, 2022E1 Value Revenues Added Revenues Eu 18 Mn Revenues Eu 50 Mn Revenues Eu 20 Mn Revenues Eu 6 Mn Revenues Eu 6 Mn Eu 130 Mn Distribution Ebitda 4% R
Slide 6: Sustainability, long term growth and commitment of key people
Sustainability, long term growth and commitment of key people Long term commitment of key people Long term track record Long term stock performance Long term commitment of key people as executive partners REVENUES FY 21E CAGR 11-21E +10.5% • STOCK PERFORMANCE SINCE IPO: +933%1 of Sesa Group through
Slide 7: Group Results and achievements
Alessandro Fabbroni - Chief Executive Officer Conxi Palmero - Investor Relation Manager Business model evolution and strategic achievements Group Results and achievements as of January 31, 2021 (9M) and FY 2021E Market trend and long term sustainable growth Group Structure and Business Sectors VAD,
Slide 8: Group Financial Results: growing profitability and cash flow generation
Group Financial Results: growing profitability and cash flow generation Revenues Ebitda Group EAT Adj1 NFP Eu 1,534.3 Mn Eu 92.2 Mn Eu 43.5 Mn Eu 11.3 Mn (net cash) 9M 2021 (+14.1% Y/Y) (+32.7% Y/Y) (+40.8% Y/Y) vs (May 20 - Jan 21) Ebitda Margin EAT Adj margin Eu 11.8 Mn (net debt) 6.0% (vs 5.2% 9M
Slide 9: EBITDA and EAT margin improvement by segment (9M 2021)
EBITDA and EAT margin improvement by segment (9M 2021) Group Revenues Eu Mn (*) EBITDA Eu Mn EAT Adjusted Eu Mn (**) Revenues by Segment (*) 1.1% 3.1% +14.1% Y/Y +32.7% Y/Y +40.8% Y/Y 20.7% 21.9% 1,534.3 92.2 43.5 6.0% 2.8% 1,344.8 50.2 Jan 31 Jan 31 -0.3 2018 2021 4.2 14.8 355.1 78.2% 75.0% 1,146.3
Slide 10: EBITDA and EAT margin improvement by segment (FY 2017 – FY 2021E)
EBITDA and EAT margin improvement by segment (FY 2017 – FY 2021E) Group Revenues Eu Mn (*) EBITDA Eu Mn EAT Adjusted Eu Mn (**) Revenues by Segment (*) +14.6% Y/Y +33.0% Y/Y +39.5% Y/Y 1.1% 3.4% 17.7% 22.2% +14.5% Y/Y +27.1% Y/Y 125.7 (E) +31.1% Y/Y 2,036 (E) 57.5 (E) 6.2% 2.8% Apr 30 Apr 30 1,776
Slide 11: Cash Flow generation and NWC management - FY 2014 – 2021 by Quarter
Cash Flow generation and NWC management - FY 2014 – 2021 by Quarter Higher Efficiency in NWC management 17.3% 15.7% NWC efficiency improvement 14.6% NWC/Revenues 4.6% in Q3 21 vs 7.6% in Q3 20 13.3% 13.3% 12.8% 12.0% 12.7% 12.6% 11.7% 11.6% 10.9% 10.7% 11.1% 11.2% 10.5% 10.2% 10.0% 10.3% 9.4% 9.4% N
Slide 12: Market trend and long term sustainable growth
Alessandro Fabbroni - Chief Executive Officer Conxi Palmero - Investor Relation Manager Business model evolution and strategic achievements Group Results and achievements as of January 31, 2021 (9M) and FY 2021E Market trend and long term sustainable growth Group Structure and Business Sectors VAD,
Slide 13: IT Market Trends
IT Market Trends Worldwide IT market • Decrease in IT spending in 2020, followed by a strong recovery from 2021 • In three-year period 2021-2023 IT demand is expected to grow with higher rates than estimated before Covid19 (annual avg growth 5%-7%)1 Italian IT market • Digital and IT Traditional Mar
Slide 14: Sesa Group and Sustainability
Sesa Group and Sustainability SUSTAINABLE GROWTH ENVIRONMENTAL RESPONSIBILITY - Sesa Group Mission to create sustainable value for all stakeholders in the long - To safeguard and protect environment with several programs and procedures term; in January 27, 2021 Sesa shareholders meeting approved una
Slide 15: Sustainable long term growth FY 2011 - 2022E
Sustainable long term growth FY 2011 - 2022E 2,251 (E) 149.4 (E) 110.5 (E) Sales and other Revenues (Eu Mn) 125.7 (E) 90.5 (E) 2,036 (E) 1,776 94.5 +18.9% 68.5 EBIT Adjusted1 (Eu Mn) +10.6% Y/Y +22.1% Y/Y +33.0% 1,551 +14.6% Y/Y Y/Y 55.7 +32.2% EBITDA (Eu Mn) 1,363 +14.5% Y/Y 74.3 +27.1% Y/Y 1,230 1
Slide 16: Group Structure and Business Sectors VAD, SSI, BS
Alessandro Fabbroni - Chief Executive Officer Conxi Palmero - Investor Relation Manager Business model evolution and strategic achievements Group Results and achievements as of January 31, 2021 (9M) and FY 2021E Market trend and long term sustainable growth Group Structure and Business Sectors VAD,
Slide 17: Group Structure and Market Position
Group Structure and Market Position SeSa Group is a leading Italian digital Consolidated revenues over Eu 2 Bn and services and solutions provider over 3,500 employees1 Key player driving digital transformation to the Italian economy Technology, digital services and business applications embracing n
Slide 18: Leadership in Italian VAD market
Leadership in Italian VAD market 1,610 Mn revenues, Ebitda margin 4% and 430 employees1 VAD Italian market Revenues breakdown share2 FY 2021E Customer base of over 15,000 BPs (Software Houses, System Integrators, MSP, CSP) and full coverage of the Italian territory (15 B2B branches) Device & Clo
Slide 19: Digital and Innovation Partner for Enterprises and SMEs
Digital and Innovation Partner for Enterprises and SMEs 480 Mn revenues, Ebitda margin 11% and over 2,470 employees1 Revenues breakdown FY 2021E Cognitive & Analytics 2% Customer Experience 2% Offering of digital solutions with 7 dedicated business units, leading digital transformation of SMEs a
Slide 20: Business Services
Business Services 50 Mn revenues, Ebitda margin 6% and 430 employees1 in FY2021E Revenues breakdown FY 2021E 70 Mn revenues, Ebitda margin 10% and over 500 employees2 in FY2022E Digital New Sesa Sector since March 2020 Transformation 13% Business Business Services, Process Outsourcing, Sec
Slide 21: Annexes Financial Statements
Alessandro Fabbroni - Chief Executive Officer Conxi Palmero - Investor Relation Manager Business model evolution and strategic achievements Group Results and achievements as of January 31, 2021 (9M) and FY 2021E Market trend and long term sustainable growth Group Structure and Business Sectors VAD,
Slide 22: Group 9M Results 2021 by segment
Group 9M Results as of January 31, 2021 by segment 9-Months as of January 31, 2021 (9M) Y/Y Highlights Segment Informations 9M period as of January 31, 2021 (9M) 9M period as of January 31, 2020 (9M) Q4 2020 results 9M 2021 results (May 2020 – January 2021) In Euro Mn VAD SSI BS 1 Corporate Group VA
Slide 23: Group Annual Results as of April 30, 2020 by segment
Group Annual Results as of April 30, 2020 by segment Annual Results as of April 30, 2020 Y/Y Highlights Segment Informations Annual Results as of April 30, 2020 Annual Results as of April 30, 2019 Annual results as of April 30, 2020 1 In Euro Mn VAD SSI BS Corporate Group VAD SSI Corporate Group Con
Slide 24: Income Statement 2021 as reported
Income Statement as of January 31, 2021 as reported Change Reclassified Income Statement (Euro/thousand) 9M Jan 31 2019 % 9M Jan 31 2020 % 9M Jan 31 2021 % 2021/20 Revenues 1,139,359 1,336,278 1,523,733 14.0% Other income 6,914 8,494 10,546 24.2% Total Revenues and Other Income 1,146,273 100.0% 1,34
Slide 25: Balance Sheet 2021 as reported
Balance Sheet as of January 31, 2021 as reported Change Reclassified Balance Sheet (Euro/thousand) 9M Jan 31 2019 9M Jan 31 2020 9M Jan 31 2021 2021/20 Intangible assets 44,630 66,579 114,416 47,837 Property, plant and equipment 56,223 73,697 94,964 21,267 Investments valued at equity 9,325 11,673 1
Slide 26: Income Statement as of April 30, 2020 as reported
Income Statement as of April 30, 2020 as reported Change Reclassified Income Statement (Euro/thousand) April 30, 2018 % April 30, 2019 % April 30, 2020 % 2020/19 Revenues 1,350,900 1,539,854 1,762,641 14.5% Other income 12,135 10,751 13,384 24.5% Total Revenues and Other Income 1,363,035 100.0% 1,55
Slide 27: Balance Sheet as of April 30, 2020 as reported
Balance Sheet as of April 30, 2020 as reported Change Reclassified Balance Sheet (Euro/thousand) April 30, 2018 April 30, 2019 April 30, 2020 2020/19 Intangible assets 39,083 54,001 74,273 20,272 Property, plant and equipment 55,221 57,771 83,958 26,187 Investments valued at equity 9,179 10,030 12,1
Slide 28: Disclaimer
Disclaimer This document has been prepared by Sesa SpA (“SeSa” or the “Company”) or by its subsidiaries (hereinafter “SeSa Group”) solely for this presentation and does not represent any investment research, recommendation, consulting or suggestion, concerning the Company or its shares or any other