Slide 1: Q3 & 9M 2016 Results
Q3 & 9M 2016 Results October 26th, 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: Q3 2016 & 9M 2016 Key takeaways
Q3 2016 & 9M 2016 Key takeaways Solid execution pays off: another set of strong results Continued sustained sales growth (Q3 2016: +11.2%1; 9M 2016: +10.8%1) 11th consecutive quarter of robust organic growth Balanced growth across Regions, Americas accelerating Strong comparable basis Soli
Slide 4: Q3 2016 Financial highlights
Q3 2016 Financial highlights Continuing sustained profitable growth Data in €m Q3 2016 Q3 2015 Δ% REVENUES 259.7 233.5 +11.2% Organic growth +8.1% Acquisitions +3.1% FX 0.0% EBITDA RECURRING 33.6 29.7 +13.3% Margin % 13.0% 12.7% Another quarter of double-digit growth at constant FX (+11.2%) Exce
Slide 5: 9M 2016 Financial highlights
9M 2016 Financial highlights Robust business environment persists Data in €m 9M 2016 9M 2015 Δ% REVENUES 803.9 733.7 +9.6% Organic growth +8.0% Acquisitions +2.8% FX -1.2% EBITDA RECURRING 121.6 108.3 +12.3% Margin % 15.1% 14.8% Strong sales growth in all Regions Strong growth in EMEA: +11.2%1
Slide 6: Revenues roadmap by Geography
Revenues roadmap by Geography Strong performance in all three Regions continues EMEA 65.5% of 9M 2016 Revenues 9M 2016: +11.2% in LC YoY Q3 2016: +10.4% in LC QoQ AMERICAS 19.5% of 9M 2016 Revenues 9M 2016: +8.7% in LC YoY Q3 2016: +13.6% in LC QoQ APAC 14.9% of 9M 2016 Revenues 9M 2016: +11.1% in L
Slide 7: Financial results by Region: EMEA
Financial results by Region EMEA: strong profitable growth and market share gains Performance well above market reference Data in €m 9M 2016 9M 2015 Δ% Scoring another quarter of double digit growth1 REVENUES 526.5 477.7 +10.2% Solid organic growth further boosted by M&A Organic growth +7.4%
Slide 8: Financial results by Region: AMERICAS
Financial results by Region AMERICAS: steadily accelerating Sales growth steadily improving on a remarkable Data in €m 9M 2016 9M 2015 Δ% performance of 9M 2015 (+17.6% at constant FX) REVENUES 157.0 145.0 +8.2% Strong performance of Miracle Ear Organic growth +7.4% Successful operational exec
Slide 9: Miracle-Ear's new creative TV campaign "Hear a Better Day"
Miracle-Ear’s new creative TV campaign “Hear a Better Day” Strengthening brand equity & awareness Positive performance vs. latest campaigns 9
Slide 10: Miracle-Ear: Sivantos confirmed partner
Miracle-Ear: Sivantos confirmed partner Experienced, reliable partner Over 15 years of successful partnership Three-year contract with exclusivity (2017-2019) Differentiated and personalized product offering Mutual benefits and improvements on several business terms will support further ma
Slide 11: Financial results by Region: APAC
Financial results by Region APAC: continued outstanding performance Strong revenue growth of 11.1% in LC Data in €m 9M 2016 9M 2015 Δ% Robust organic growth in Q3 2016 (+10.8% in REVENUES 119.8 110.8 +8.1% LC) Currency tailwind in Q3 2016 Organic growth +10.2% Remarkable 9M 2015 comparable b
Slide 12: Q3 2016 Financial results
Q3 2016 Financial results Delivering solid results Data in €m (unless specified) Q3 20161 Q3 2015 Q3 2015 Δ% Recurring Reported Recurring REVENUES 259.7 233.5 233.5 +11.2% EBITDA2 33.6 29.7 31.7 +13.3% Margin % 13.0% 12.7% 13.6% EBIT2 20.8 17.2 19.2 +20.9% Margin % 8.0% 7.4% 8.2% PROFIT BEFORE TAX3
Slide 13: 9M 2016 Financial results
9M 2016 Financial results Delivering solid results Data in €m (unless specified) 9M 2016 9M 2016 9M 2015 9M 2015 Δ% Recurring Reported Recurring Reported Recurring REVENUES 803.9 803.9 733.7 733.7 +9.6% EBITDA1 121.6 119.1 108.3 103.5 +12.3% Margin % 15.1% 14.8% 14.8% 14.1% EBIT1 83.0 80.5 70.3 65.5
Slide 14: 9M 2016 Financial results: Cash flow
9M 2016 Financial results Cash flow sustained higher Capex & cash-out for acquisitions Data in €m 9M 20161 9M 20152 OPERATING CASH FLOW (A) 62.1 58.7 CAPEX (B) (35.6) (28.8) DISPOSALS (B) 1.0 8.5 FREE CASH FLOW (A+B) 27.5 38.4 ACQUISITIONS (C) (70.4) (34.7) OTHER ACQUISITIONS/DISPOSALS (D) (0.1) 4.8
Slide 15: 9M 2016 Financial results: Capital structure
9M 2016 Financial results Solid capital structure to sustain future growth opportunities Data in €m 30/09/2016 31/12/2015 30/09/2015 CASH (150.2) (196.7) (149.8) SHORT-TERM DEBT 36.2 19.1 17.8 MEDIUM/LONG-TERM DEBT 379.9 382.5 384.5 NET DEBT 265.9 204.9 252.5 EQUITY 528.1 500.2 454.7 NET DEBT/EBITDA
Slide 16: 2016 Outlook
2016 Outlook On track to meet full year objectives Amplifon’s strong momentum is expected to continue in Q4 2016 Drivers: increasing volumes with stable ASP Continued top-line growth, above market reference Contribution from all Regions Solid organic growth Sales growth acceleration and
Slide 17: 2017 Financial calendar
2017 Financial calendar Key corporate events Date Event Tuesday, February 28th FY 2016 Results Thursday, April 20th Shareholders’ General Meeting Thursday, April 27th Q1 2017 Results Wednesday, July 26th Q2 & H1 2017 Results Wednesday, October 25th Q3 & 9M 2017 Results 17
Slide 18: Annexes
Annexes amplifon
Slide 19: Revenue breakdown by segment
Revenue breakdown by segment Δ% in Data in €m 9M 2016 % 9M 2015 % Δ% Δ% FX OG % local currency EMEA 526.5 65.5% 477.7 65.1% 10.2% -1.0% 11.2% 7.4% AMERICAS 157.0 19.5% 145.0 19.8% 8.2% -0.5% 8.7% 7.4% APAC 119.8 14.9% 110.8 15.1% 8.1% -3.0% 11.1% 10.2% Corporate 0.7 0.1% 0.2 0.0% n.s. - - n.s. Total
Slide 20: Contacts
Contacts Amplifon S.p.A. Via G. Ripamonti. 133 20141 Milano (MI) - Italy Phone: +39 02 5747 21 Fax: +39 02 5730 0033 ir@amplifon.com ir@amplifon.com Investor relations team FRANCESCA RAMBAUDI AMANDA HART GIRALDI OLGA LEPECHKINA Investor Relations Director Investor Relations Analyst Investor Relation