Slide 1: 1H 2024 Results
1H 2024 Results Ended June 30, 2024 Milan – August 2, 2024
Slide 2: Agenda
Agenda 1 1H’24 Highlights and Updates 2 1H’24 Financial Results J. Mastragostino | Chief Investor Relations Officer O. Pozzi | Group Chief Financial Officer 3 Business Units Deep Dive 4 Closing Remarks + Q&A O. Pozzi | Group Chief Financial Officer J. Mastragostino | Chief Investor Relations Officer
Slide 3: 1H'24 Highlights and Updates
1 1H’24 Highlights and Updates J. Mastragostino | Chief Investor Relations Officer
Slide 4: Key data
Key data REVENUES € 203.0 M EBITDA Adjusted € 34.4 M (- 9% vs PY) EBITDA EBIT Adjusted + 11% vs PY € 25.5 M € 19.5 M NET PROFIT Adjusted € 11.9 M FCF Adjusted of cont. ops. NFP € 25.8 M € 276.9 M Results at 30/06/2024 vs € 102 M in FY2023 4
Slide 5: 1H 2024: Updating, after the first six months
1H’24 Highlights and Updates 1H 2024: Updating, after the first six months • Results: - Revenues at € 203.0M in 1H’24 (+ 11.3% vs PY); - EBITDA Adjusted at € 34.4M in 1H’24 (- 9.1% vs PY) mainly impacted by ABF’s contribution combined with CS’s less favorable revenue mix and BI’s known seasonality,
Slide 6: 1H 2024 Results
1H’24 Highlights and Updates 1H 2024 Results 1H 2024 results show Revenues of € 203.0 €M million, EBITDA Adjusted of € 34.4 million and Net Profit of € 2.3 million. Growth was registered in Revenues (c. + 11%) with a light contraction in EBITDA Adjusted (c. - 9%) EBITDA Adjusted amounted to 34.4 mil
Slide 7: EBITDA Adjusted Quarter by Quarter – back end weighted business
1H’24 Highlights and Updates EBITDA Adjusted Quarter by Quarter – back end weighted business €M 2024 to have 60% 61% 63% noticeable 2H EBITDA Significant 2H generation historical weight driven by business model ~ 46.1 ABF 40.0 29.5 22.6 22.9 19.1 17.7 19.0 19.3 16.2 14.5 15.0 15.1 Weight of each Q 1
Slide 8: 1H'24 Financial Results
2 1H’24 Financial Results O. Pozzi | Group Chief Financial Officer
Slide 9: 1H 2024 Results – Income Statement
1H’24 Financial Results 1H 2024 Results – Income Statement 1H 2024 with Acquisitions LFL2023 €M 1H’24 % 1H’23 % % on 2023 Δ Δ% Δ Δ% Revenues 203.0 100.0% 182.5 100.0% 186.4 100.0% 20.5 11.3% 3.9 2.1% Total Operating Costs -168.6 -83.0% -144.6 -79.2% -153.9 -82.6% -24.0 16.6% -9.3 6.4% Service & Othe
Slide 10: 1H 2024 Results – Having a clear view on P&L Adjustments
1H’24 Financial Results 1H 2024 Results – Having a clear view on P&L Adjustments EBITDA Operating profit (loss) Net profit from continuing operations €M 1H 2024 1H 2023 1H 2024 1H 2023 1H 2024 1H 2023 Reported income statement results 25.5 34.5 0.9 15.2 2.3 9.3 Non-recurring service costs 3.8 1.4 3.
Slide 11: 1H 2024 Results – Balance Sheet
1H’24 Financial Results 1H 2024 Results – Balance Sheet €M 706.2 Net invested capital increased by € 149.2 million compared to 31 December 2023 mainly due to the investment in ABF for a total of € 134.0 Net 557.0 million at the acquisition date, in Lenovys for a total of € 17.4 million and Invested
Slide 12: 1H 2024 Results – NFP & FCF
1H’24 Financial Results 1H 2024 Results – NFP & FCF €M NFP Adjusted FCF of continuing ops 29.3 Main Changes in 1H 2024: 1.3 25.8 276.9 • - € 4.6M Put Options 11.5 • + € 4.1M Treasury Shares Non-recurring components Free Cash Flow of • - € 153.4M Acquisitions 27.9 Continuing Operations 102.0 • - € 5.
Slide 13: 1H 2024 Results – NFP Bridge
1H’24 Financial Results 1H 2024 Results – NFP Bridge + € 153.4M Acquisitions €M + € 4.6M Put Options 158.0 11.5 276.9 1.0 0.7 - 3.5 - 4.1 5.7 102.0 29.1 2.3 - 25.8 0.99x NFP/EBITDA1 2.78x (1) Calculated as NFP/LTM EBITDA Adjusted 13
Slide 14: 1H 2024 Results – NFP LTM Bridge
1H’24 Financial Results 1H 2024 Results – NFP LTM Bridge €M + € 203.9M Acquisitions 14.8 276.9 224.1 4.3 1.3 2.1 + € 20.2M PUT Options - 2.7 - 1.3 - 4.0 52.6 8.1 29.1 - 53.4 1.9 0.55x NFP/EBITDA1 2.78x (1) Calculated as NFP/LTM EBITDA Adjusted 14
Slide 15: Business Units Deep Dive
3 Business Units Deep Dive O. Pozzi | Group Chief Financial Officer
Slide 16: Overview 1H'24
Business Units Deep Dive Digital Trust Cybersecurity Overview 1H’24 €M Group 102.3 42.6 45.3 86.4 24.4 29.4 4.8 4.1 1H 2023 1H 2024 1H 2023 1H 2024 1H 2023 1H 2024 1H 2023 1H 2024 REVENUES EBITDA Adj. REVENUES EBITDA Adj. 203.0 Business Innovation 182.5 Margin Margin 20.8% 17.0% 37.9 34.4 1H 2023 1H
Slide 17: Digital Trust 1H'24
Business Units Deep Dive Digital Trust 1H’24 €M 102.3 8.2 Margin Margin 28.2% 28.8% 29.4 86.4 94.1 2.6 24.4 26.9 1H 2023 1H 2024 1H 2023 1H 2024 REVENUES EBITDA Adj. LFL 2023 Δ Acquisitions • Revenues amounted to 102.3 million euros, up by 18.4% (+ 8.9% on a 2023 basis) of which 9.5% attributable to
Slide 18: Cybersecurity 1H'24
Business Units Deep Dive Cybersecurity 1H’24 €M 42.6 45.3 Margin Margin 11.3% 9.0% 4.8 4.1 1H 2023 1H 2024 1H 2023 1H 2024 REVENUES EBITDA Adj. • Revenues amounted to 45.3 million euros, up 6.5%. The growth was mainly supported by the resale component of third-party products in the Implementation Se
Slide 19: Business Innovation 1H'24
Business Units Deep Dive Business Innovation 1H’24 €M 59.9 8.5 Margin Margin 29.0% 17.1% 56.1 51.4 10.3 16.3 10.9 1H 2023 1H 2024 1H 2023 1H 2024 REVENUES EBITDA Adj. LFL 2023 Δ Acquisitions • Revenues amounted to 59.9 million euros growing 6.7% vs PY thanks to the announced acquisitions of Studio F
Slide 20: Explaining ABF
Business Units Deep Dive Explaining ABF €M The 1H’24 exceptional events in France have noticeably increased the effect of seasonality, determining a 6 months delay • Government change in January • Significant budget revisions at the end of February • Dissolution of the National Assembly at the end o
Slide 21: Closing Remarks + Q&A
4 Closing Remarks + Q&A J. Mastragostino | Chief Investor Relations Officer
Slide 22: Group's Financial Targets – Explained
Closing Remarks + Q&A Group’s Financial Targets – Explained • Guidance has been updated, excluding ABF, and shows continuous progress in underlying business trends • ABF’s contribution for FY’24 has been moderately revised due to the political events in France • “Transizione 5.0” to show its benefit
Slide 23: Disclaimer
Disclaimer This company presentation includes: ➢ forward-looking data based on internal management assumptions that are subject to material changes, including changes due to external factors beyond the Group's control ➢ management data, when presented, are identified as such Business unit data are d
Slide 24: Thanks.
Thanks. Tinexta.com Investor Relations Contacts Tinexta Presentation Piazzale Flaminio, 1/B E-mail info@tinexta.com Josef Mastragostino Download the presentation Roma, 00196, Italia Pec tinexta@legalmail.it Chief Investor Relations Officer Tel. +39.06.42012631 LinkedIn: Tinexta investor@tinexta.com