Slide 1: 1Q24 Results Presentation
This content is classified as Internal 1Q24 Results Presentation May 9th, 2024
Slide 2: Disclaimer
This content is classified as Internal Disclaimer ▪ This Presentation may contain written and oral “forward-looking statements”, which includes all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-looking statements rely on
Slide 3: Key messages
This content is classified as Internal Key messages Continued delivery of growth and Shaping Nexi for Creating value for our Shareholders margin expansion future profitable growth ▪ Revenue growing at +6.0% vs 1Q23; ▪ Group strategy execution progressing well ▪ Starting 500 €M share buy back program
Slide 4: Highly fragmented and local SME software and payments integration ecosystem in Europe
This content is classified as Internal Highly fragmented and local SME software and payments integration ecosystem in Europe Highly fragmented and very local ISV Country-specific tax rules and fiscal landscape (hundreds of players in each infrastructure to be integrated market, <20% market share of
Slide 5: Nexi Strategy to make integrated payments in SME an opportunity
This content is classified as Internal Nexi Strategy to make integrated payments in SME an opportunity Bundle Nexi integrated Be the “partner of choice” for ISVs “Commerce” solutions ▪ Provide Nexi payments solutions to local ISV ▪ Bundle selected best-in-class POS software leaders in key verticals
Slide 6: Strategy in execution: a few examples
This content is classified as Internal Strategy in execution: a few examples Bundle Nexi integrated Be the “partner of choice” for ISVs “Commerce” solutions > 500 ISV partners over 8 markets All-in-one solutions in Denmark Leverage Orderbird for learning and development PRO hospitality POS MINI all-
Slide 7: Focus on 1Q24 results
This content is classified as Internal Focus on 1Q24 results
Slide 8: Solid Revenue and EBITDA growth, with continued margin expansion
This content is classified as Internal Solid Revenue and EBITDA growth, with continued margin expansion Net Net Revenues Revenues (€M) (€M) EBITDA (€M) EBITDA margin 45% + 112 bps 46% +6.0% 781.6 737.6 +8.6% 361.7 333.1 1Q23 1Q24 1Q23 1Q24 Note: Data at constant scope and FX. 8
Slide 9: Merchant Solutions: continued growth supported by volumes, customer base expansion and e-commerce
This content is classified as Internal Merchant Solutions: continued growth supported by volumes, customer base expansion and e-commerce Net Revenues (€M) Managed Transactions (#M) Key Highlights International +12.4% ▪ Sustained volume growth across the 56%1 Schemes Group, driven by International sc
Slide 10: Issuing Solutions: strong growth driven by volumes and product initiatives
This content is classified as Internal Issuing Solutions: strong growth driven by volumes and product initiatives Net Revenues (€M) Managed Transactions (#M) Key Highlights 33%1 International Schemes +12.7% ▪ Sustained growth in value of transactions across the Group, driven +8.2% by International s
Slide 11: Digital Banking Solutions: positive performance in the quarter
This content is classified as Internal Digital Banking Solutions: positive performance in the quarter sustained by volume growth and phasing of initiatives Net Revenues (€M) Key Highlights ▪ 1Q24 y/y revenues growth sustained by continued volume growth and positive 11%1 impact from new initiatives +
Slide 12: Continued revenue growth across geographies in 1Q24
This content is classified as Internal Continued revenue growth across geographies in 1Q24 59%1 Italy 18%1 Nordics2 +6.1% 431.9 458.4 +2.2% 136.3 139.3 1Q23 1Q24 1Q23 1Q24 10%1 14%1 DACH & Poland SE Europe & Other +9.6% 98.8 108.3 +7.1% 70.6 75.6 1Q23 1Q24 1Q23 1Q24 Note: (1) Contribution to 1Q Grou
Slide 13: Solid cost performance thanks to operating leverage, cost control and synergies
This content is classified as Internal Solid cost performance thanks to operating leverage, cost control and synergies, notwithstanding inflationary pressure Total Costs (€M) Key Highlights Personnel Costs Operating Costs ▪ 1Q24 increase y/y due to volume, business growth and inflationary pressure:
Slide 14: Material reduction of Net Financial Debt / EBITDA, now at 2.8x
This content is classified as Internal Material reduction of Net Financial Debt / EBITDA, now at 2.8x Net Financial Debt (€M) Key Highlights ▪ Overall “BB+/Ba1” rating (with positive outlook Mar 23 June 23 Sept 23 Dec 23 Mar 24 from S&P’s, confirmed after FY23 results), with a remarkable positive ra
Slide 15: 500 €M share buy-back program launched
This content is classified as Internal 500 €M share buy-back program launched Strategic rationale Key terms and next steps ▪ Our substantial existing cash balances and material current and expected cash ▪ Amount: up to 500 €M buy-back program generation growth create the opportunity to start returni
Slide 16: Closing remarks
This content is classified as Internal Closing remarks
Slide 17: 2024 Guidance confirmed
This content is classified as Internal 2024 Guidance confirmed Net Mid-single digit y/y growth Revenues Mid-to-high single digit y/y growth EBITDA EBITDA margin expansion of 100bps+ Excess cash More than 700 €M generated1 Decreasing to below 2.9x EBITDA including announced M&A and Net leverage share
Slide 18: Key messages
This content is classified as Internal Key messages Continued delivery of growth and Shaping Nexi for Creating value for our Shareholders margin expansion future profitable growth ▪ Revenue growing at +6.0% vs 1Q23; ▪ Group strategy execution progressing well ▪ Starting 500 €M share buy back program
Slide 19: Q&A
This content is classified as Internal Q&A
Slide 20: Annex
This content is classified as Internal Annex
Slide 21: Merchant Solutions: key business update
This content is classified as Internal Merchant Solutions: key business update 1Q24 TRX Value Key Business Highlights Examples of recent 59%1 ▪ Continued growth of terminals installed base across all markets, mainly driven by Italy and DACH customer wins & upsells ▪ Strong commercial performance of
Slide 22: Group normalised P&L at constant scope and FX
This content is classified as Internal Group normalised P&L at constant scope and FX 1Q23 data restated for FX Group P&L 1Q23 FX effect 1Q231 1Q231 1Q24 Δ% vs. 1Q23 €M €M Merchant Solutions 412.5 -2.5 410.0 Merchant Solutions 410.0 437.7 +6.8% Issuing Solutions 246.5 -1.6 244.9 Issuing Solutions 244
Slide 23: Well diversified revenue base both in terms of business and geography at scale
This content is classified as Internal Well diversified revenue base both in terms of business and geography at scale, with exposure to fast growing European markets 1Q24 Revenues breakdown 1Q24 Costs breakdown by type By business By geography By type Merchant Solutions Installed based Italy Nordics
Slide 24: Debt maturities as at 1Q24
This content is classified as Internal Debt maturities as at 1Q24 Nexi Group Debt Maturity Schedule1 (€M) Senior Notes Term Loans 1,976 Convertible Notes 1,050 1,400 ~220 €M already reimbursed in April 2024 900 756 1,000 1,050 926 696 507 500 60 2023 2024 2025 2026 2027 2028 2029 Note: (1) Expressed
Slide 25: Investor Relations
This content is classified as Internal Investor Relations investor.relations@nexigroup.com Stefania Mantegazza stefania.mantegazza@nexigroup.com