Gpi Spa · MIL:GPI
Gpi Spa — H1 2024 Earnings Presentation
21 slides from Gpi Spa's earnings presentation, Oct 3, 2024
Slide 1: First Half 2024 Results
First Half 2024 Results 0 3 1 0 2024
Slide 2: Fausto Manzana, Chief Executive Officer
Fausto Manzana Chief Executive Officer
Slide 3: Strategic Overview H1 24
3 STRATEGIC OVERVIEW H1 24 Gpi: A Leading Player in Digital Healthcare Strengthening our leadership in Italy and expanding internationally. Global Presence and International Integration Driving towards becoming a key player at the European level. Innovative, High-Quality Solutions Creating value for
Slide 4: Half-Year Economic Results H1 24
4 HALF-YEAR ECONOMIC RESULTS H1 24 STRONG IMPROVEMENT IN REVENUE AND MARGIN Revenue H1 24 / H1 23 EBITDA H1 24 / H1 23 Outstanding Group Performance +27% +50.6 M +17.6 M Strong revenue growth, with organic growth >12% and external lines >15%. +27% Organic +12.1% International Expansion Success 18.3%
Slide 5: Matteo Santoro, General Manager
Matteo Santoro General Manager
Slide 6: Consolidating the Italian Leadership
6 CONSOLIDATING THE ITALIAN LEADERSHIP Centralization of Tendering Procedures in Italy Since 2021, Italy's public tendering has become concentrated within the national central procurement body, Consip. 17.5 Major Health Digitization Tenders Consip has launched five nationwide tenders for health digi
Slide 7: Increasing International Footprint
7 INCREASING INTERNATIONAL FOOTPRINT SBA Software SBA Software Significant increase of Improvement of the + exceeded 17.5 58% of exceeded 90% of the share of revenues consolidated EBITDA combined revenues combined EBITDA generated abroad margin 18.3% up to 22% on adj. revenue 167.1 € 52 M +96% H1oH1
Slide 8: A Global Specialized Product Offer
8 A GLOBAL SPECIALIZED PRODUCT OFFER CRITICAL CARE optimized and secure management of anesthesia, intensive care and operating rooms. PATHOLOGY safe and high-quality laboratory and diagnostic processes and digital pathology. BLOOD safe and efficient management of the whole supply chain, from donatio
Slide 9: Software H1 24
9 SOFTWARE H1 24 Revenue H1 24 / H1 23 EBITDA H1 24 / H1 23 +56 M +17 M The focus on Software resulted in an +68% Organic +34% 27.0% % EBITDA improvement in profitability 138 on adj. Revenue for the entire Group. 24.0% 26.8% % on tot. Revenue 23.9% 37 82 Software 20 Modular and integrated informatio
Slide 10: Other Strategic Business Areas H1 24
10 OTHER STRATEGIC BUSINESS AREAS H1 24 Care Automation Pharmacy Automation (hospital & retail) optimizing workflows of the healthcare system BPO healthcare administrative svc. Access to Care ICT HW & SW maintenance & assistance System services Cyberdefence 83 80 21 1.0% 1.1% % EBITDA 16.9% % EBITDA
Slide 11: Double Digit Growth H1 24: Revenue +27% EBITDA +76%
DOUBLE DIGIT GROWTH H1 24: REVENUE +27% EBITDA +76% €M H1 24 H1 23 Revenue: € 236.4 M +50.6 M restated1 Revenue & other Income 236.4 185.8 EBITDA: € 40.7 M +17.6 M Adjusted Revenue2 222.6 173.5 EBITDA margin 18.3% on adj. Revenue 5 p.p. increase EBITDA 40.7 23.1 EBITDA % on adj. Revenue X,X 18.3% X,
Slide 12: Financial Highlights H1 24
FINANCIAL HIGHLIGHTS H1 24 €M H1 24 FY 23 Net Working Capital (+) inventory increase € 2.9 M; (+) increase in trade receivables and contracts assets € 24.3 M; Net Working Capital 250.6 224.6 (-) increase in trade payables and account receivables € 1.3 M. Fixed Assets 450.5 449.4 Shareholders’ Equity
Slide 13: Net Debt Bridge H1 24
NET DEBT BRIDGE H1 24 Investing in the development of new technological solutions 364.9 (40.7) (R&D: €13.8M) and the IFRS 16 effect (€5.4M) (82.8) 10.4 1.4 14.4 0.9 297.5 23.8 5.2 235.4 Increase in financial expenses due to the combined effect of higher interest rates and gross debt NWC mostly affec
Slide 14: Q&A
14 Q&A € 236 M € 41 M 18.3% € 400 M Revenue EBITDA EBITDA margin M&A H1 24 H1 24 on adj. Revenue 2017-2023 +50.6 M +17.6 M + 5 p.p. Proposed Dividend € 0.35 p.s. • SOLID GROWTH in both REVENUE and EBITDA • STRONG INTERNATIONAL IMPULSE • STRATEGIC for the Healthcare Systems • SOUND and CLEAR STRATEGY
Slide 15: Investment Quick Take
15 INVESTMENT QUICK TAKE Shareholder structure based on information available to Gpi as at 30 September 2024 Leadership and Uniqueness GPI IN THE STOCK MARKET ISIN: IT0005221517 FM (Manzana Family) Ticker: GPI:IM 33.3% CDP Equity Price 1 October 2024 € 12.98 47.9% Growth and Visibility Treasury Shar
Slide 16: IR Contact details
16 IR Contact details Via Ragazzi del '99, 13 - 38123 Trento t. +39 0461 381515 investor.relations@gpi.it Fabrizio Redavid Lorenzo Giollo m. +39 335 1035499 m. +39 340 8223333 fabrizio.redavid@gpi.it lorenzo.giollo@gpi.it
Slide 17: Appendix Financial Statements H1 24
Appendix Financial Statements H1 24
Slide 18: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT H1 2023 H1 2024 € ,000 restated1* Revenue 230,500 182,791 Other income 5,927 3,050 Total revenue and other income 236,427 185,841 Raw materials and consumables (9,239) (8,572) Service costs (55,383) (45,291) Personnel expense (127,475) (107,192) Amortisation, depreciati
Slide 19: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 31 December 2023 30 June 2024 € ,000 Restated1* Assets Goodwill 186,827 186,699 Other intangible assets 198,195 202,189 Property, plant and equipment 52,673 48,396 Equity-accounted investments 458 453 Non-current financial assets 11,445 10,378 Deferred ta
Slide 20: Consolidated Statement of Cash Flows
CONSOLIDATED STATEMENT OF CASH FLOWS, H1 2023 H1 2024 € ,000 Restated1* Cash flows from operating activities Profit for the period 85,768 (1,304) Adjustments for: - - Depreciation of property, plant and equipment 5,517 4,424 - Amortisation of intangible assets 19,316 12,743 - Amortisation of contrac
Slide 21: Disclaimer
21 Disclaimer The material in this presentation was prepared by GPI S.p.A. ("GPI” or the “Company”) without any paragraph 2, letters a) to d) of the Order; and (C) other persons to whom this presentation can be form of independent verification; it is general, basic information about the current busi