Cellularline Spa · MIL:CELL

Cellularline Spa — FY2019 Earnings Presentation

12 slides from Cellularline Spa's earnings presentation, Mar 12, 2020

  1. Slide 1: Full Year 2019 Financial Results

    Full Year 2019 Financial Results Reggio Emilia – March 12, 2020

  2. Slide 2: Disclaimer

    Disclaimer This document has been prepared for preliminary discussions in relation to Cellularline S.p.A. (the “Company”) and its affiliates (together, the “Group”). This document, the information contained herein and any information provided at any presentation in connection herewith (the “Material

  3. Slide 3: FY 2019 Highlights

    FY 2019 Highlights  Revenues1 hit record high of €140.4 million.  Revenues growth +8.3% year on year thanks to +€9.7 million contribution from Systema acquisition, while positive organic growth (+0.8%) was slightly affected in H2 by slowdown of smartphone sales, due to increasing effects of USA/Ch

  4. Slide 4: Key financials (€M)

    Key financials (€M) Revenues Adj. EBITDA 40 (€M) 160 (€M) 140,4 33,9 33,1 129,7 35 -2,4% 140 9,7 0,6 120 30 100 25 80 20 33,9 32,5 60 129,7 130,7 15 40 10 20 5 0 0 FY2018 FY2019 FY2018 FY2019 Systema Organic Total Systema Organic Total Adj. Net Result Net Debt 25 23,1 23,3 40 (€M) 1,2x (€M) 0,2 35 1

  5. Slide 5: Focus on Revenues

    Focus on Revenues Revenues by product line and geography 142 (€M) Red Line -0,1 86% 140 138 Product 5,4 Line Black Line 136 5% Blue Line 134 1,5 Others; 8% 1% 132 140,4 3,9 130 Key EU Italy Countries1 56% 33% 128 129,7 Geo 126 124 Other Countries FY2018 Red Line Black Line Blue Line Others FY2019 11

  6. Slide 6: Focus on Adj. EBITDA

    Focus on Adj. EBITDA Adj. EBITDA bridge 50 (€M) +440 bps -180 bps (% on Revenues)6,1% 45 on Revenue 40 10,7 -11,5 35 -0,6 0,6 30 25 20 33,9 33,1 15 (26,1%) (23,5%) 10 5 0 FY2018 Revenues CoGS S&S G&A and Others FY2019  In FY2019 Adj. EBITDA was €33.1M, compared to €33.9M in the previous year.  Adj

  7. Slide 7: From Adj. EBITDA to EBIT

    From Adj. EBITDA to EBIT Adj. EBITDA to EBIT bridge (€M) €9.1M Not organic business items 35 30 -6,0 25 -3,1 -3,8 0,1 20 33,1 15 10 20,2 20,3 20,3 5 0 Adj. EBITDA PPA Amort. Ext. Costs D&A FX Gain/(Loss) EBIT Reported  In FY2019 EBIT amounted to €20.3M and considering:  adjustments for not organic

  8. Slide 8: From EBIT to Adj. Net Result

    From EBIT to Adj. Net Result EBIT to Adj. Net Result bridge (€M) 30 -1.3 25 -2.7 6,0 -0,3 -0,1 0,1 20 3,1 -1,8 15 23,3 23,3 10 20,3 18,2 5 0 EBIT Reported Net Financials FX Gain/(Loss) Investments Taxes Net Result Ext. Costs PPA Amort. FV Warrant Taxes on Adj. Adj. Net Result Gain/(Loss)  Differenc

  9. Slide 9: Focus on Net Debt

    Focus on Net Debt Net Debt evolution 30 (€M) (X) Leverage Ratio 25 20 10,0 -12,9 15 2,4 24,5 24,6 -1,3 1,9 10 (0.7x) (0.7x) 14,6 5 0 FY2018 Financial Liabilities Warrant IFRS 16 FV Put & Call Systema Cash & Equivalents FY 2019 Net Debt (€M) FY 2018 FY 2019 Financial Liabilities 63,8 50,9  FY2019 Ne

  10. Slide 10: Focus on Cash-Flow

    Focus on Cash-Flow Cash-Flow evolution 30 (€M) 25 -2,6 -1,9 1,3 20 -2,9 -3,4 15 20,4 24,5 -4,9 24,6 21,4 21,9 21,9 10 18,5 -6,1 5 0 1 Net Debt 2018 Operating Dividend M&A CapEx Buy-back IFRS 16 Warrant Others Net Debt 2019 Cash-Flow  Operating Cash-Flow confirmed above €20M in FY2019; the amount is

  11. Slide 11: Outlook for FY 2020

    Outlook for FY 2020  The Company is closely monitoring the situation related to the spread out of COVID-19 and the uncertainty of its duration and geographic expansion makes difficult and premature to assess short term potential impacts.  However, the Company underlines that:  supply chain from F

  12. Slide 12: IR contacts

    IR contacts Stefano Cerrato CFO & IR Alessandro Brizzi IR ir@cellularlinegroup.com www.cellularlinegroup.com Ph: +39 0522 33 40 02 12

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