Slide 1: Q1 2021 Results Conference Call
© esprinet’ enabling your tech experience Q1 2021 Results Conference Call May 17, 2021
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation may contain forward-looking statements that are subject to risks and uncertainties, including those pertaining to the anticipated benefits to be realized from the proposals described herein. Forward-looking statements may include, in particular, statements
Slide 3: Esprinet - enabling your tech experience
@ esprinet’ enabling your tech experience
Slide 4: Q1 2021 at a glance
Q1 2021 at a glance • Q1 2021 all the economic and financial • Cash Cycle closes at 5 days, with an • On May 11, 2021 paid dividend of indicators in strong growth: improvement of -3 days compared to 0.54 euros per share, a pay-out ratio Q4 20 and of -15 days compared to Q1 up to 50%, recovering the
Slide 5: Q1 2021 Financial Highlights
Q1 2021 Financial Highlights (M/€) 31/03/2021 31/03/2020 Var. % (M/€) 31/03/2021 31/03/2020 31/12/2020 Sales from contracts with customers 1,166.0 913.8 28% Fixed Assets 137.9 118.8 137.0 Gross Profit 56.1 42.3 33% Operating Net Working Capital 235.1 285.5 (121.0) Gross Profit % 4.81% 4.63% Other cu
Slide 6: A solid financial structure
A solid financial structure • closes at 5 days • an improvement of -3 days compared to Q4 20 • thanks to better Inventory Days (-1) and DPOs (2), substantial stability of the DSOs • negative for 71.6 M€, net of IFRS 16 effects (positive for 46.0 M€ pre IFRS 16) • an improvement compared to March 31,
Slide 7: Working Capital Metrics 4-qtr average
Working Capital Metrics 4-qtr average 80 40 • Q1 2021: the new best performance ever 70 34 35 32 32 31 30 • Continuous reduction of cash 29 cycle days due to higher 60 28 28 27 28 30 inventory rotation and longer 27 27 26 27 26 26 payment terms from 50 23 25 suppliers 20 40 20 • As of March 31, 2021
Slide 8: Working Capital Metrics quarter-end
Working Capital Metrics quarter-end 90 50 80 43 44 42 40 39 40 39 40 37 70 36 33 33 32 32 31 30 29 60 25 • As of March 31, 2021 working capital 20 50 days stand at 15. 14 15 85 40 77 10 • Inventory days amounted to 40 days, 68 DSOs amounted to 41 days mainly 6 6 65 66 having reduced the recourse to
Slide 9: ROCE Evolution Up To Q1 2021
ROCE Evolution Up To Q1 2021 30,0% 25,0% 25,1% 20,0% 19,7% 15,8% 15,0% 14,9% 14,0% 11,3% 10,9% 11,3% 10,9% 10,0% 10,0% 9,8% 9,4% 8,4% 8,7% 8,5% 8,2% 8,3% 8,6% 8,6% 7,7% 7,2% 7,6% 7,0% 7,1% 8,1% 8,0% 7,6% 7,1% 6,7% 5,0% 7,9% 0,0% 2016 Q1 2016 Q2 2016 Q3 2016 Q4 2017 Q1 2017 Q2 2017 Q3 2017 Q4 2018 Q1
Slide 10: Strategy & Execution
@ esprinet’ enabling your tech experience STRATEGY & EXECUTION
Slide 11: ROCE Driven Strategy
ROCE Driven Strategy CORE BUSINESS IN PROGRESS • Customer Satisfaction • Consumption Model: Cloud, DaaS and Managed Print Service to grow profitability • PCs & Smartphones: volumes without additional fixed costs • Outsourcing of logistics & marketing to profit from high-added value lying in Tech wit
Slide 12: Sales Evolution
Sales Evolution Esprinet Market(*) Esprinet Market(*) Esprinet Market(*) Retailers & 733 M€ Italy 23% 21% 656 M€ IT Clients 35% 36% 481 M€ 25% 23% E-tailers Consumer 405 M€ Spain 36% 20% 343 M€ 23% 22% 725 M€ IT Resellers 39% 18% Electronics 17 M€ Portugal 50% 13% Advanced 48% -4% 207 M€ Solutions 1
Slide 13: Drill down on business sector sales
Drill down on business sector sales • Significant boost to profitability coming from increased volumes of high gross profit margin Advanced Solutions business lines. • Sales of Advanced Solutions grew by 48% compared to Q1 2020, in a market(*) that decreased by 4%, entailing a significant market sha
Slide 14: Drivers of profitability
Drivers of profitability • Growing margins on all business lines thanks to the constant commitment to improve customer satisfaction index. • Customer satisfaction also results in further consolidated market shares in all product and customer segments in all three geographies. • The growing revenues
Slide 15: Guidance
Guidance ❑ We expect the first half of 2021 should confirm a favorable comparison against the previous year whilst the second half opens up to multiple scenarios relating to the uncertainty linked to the pandemic. • The conservative scenario still implies a certain level of growth in the coming quar
Slide 16: Share performance since launch of ROCE driven strategy
Share performance since launch of “ROCE driven strategy” ESPRINET (PRT:IM) FTSE Italia STAR Index 16
Slide 17: Upcoming Events
Upcoming Events Italian Investment Conference 2021 May 18, 2021 organized by Unicredit & Kepler Cheuvreux Virtual Tech Day May 19, 2021 organized by Intermonte Mid & Small Virtual | Spring June 15-17, 2021 organized by Virgilio IR Mid & Small Virtual | Summer July 26 - August 6, 2021 organized by Vi
Slide 18: Esprinet - enabling your tech experience
e ® @ esprinet enabling your tech experience
Slide 19: Thank you
Thank you GRAZIE + GRACIAS - OBRIGADO« DANKE « MERCI « ZA} « iff! « RR © esprinet’ enabling your tech experience
Slide 20: Annex
e ® @ esprinet enabling your tech experience
Slide 21: Shareholders & Analyst Coverage
Shareholders & Analyst Coverage DECLARANT & DIRECT SHAREHOLDER % ON ORDINARY CAPITAL % ON VOTING CAPITAL ANALYST Francesco Monti 16.16% 16.16% COVERAGE Giuseppe Calì 11.26% 11.26% Axopa S.r.l. (Maurizio Rota and Alessandro Cattani) 9.79% 9.79% Paolo Stefanelli (*) 5.22% 5.22% JP Morgan 5.01% 5.01% O
Slide 22: ROCE Evolution Up To Q1 2021
ROCE Evolution Up To Q1 2021 450.000 30,0% 400.000 25,1% 25,0% 350.000 300.000 20,0% 19,7% 250.000 14,9% 15,0% 200.000 11,3% 10,9% 11,3% 10,0% 9,4% 9,8% 150.000 8,7% 8,5% 8,1% 8,4% 8,2% 8,6% 10,0% 7,7% 7,2% 7,6% 6,7% 7,0% 7,1% 100.000 5,0% 50.000 0 0,0% 2016 Q1 2016 Q2 2016 Q3 2016 Q4 2017 Q1 2017 Q
Slide 23: ROCE IFRS16 Evolution Up To Q1 2021
ROCE IFRS16 Evolution Up To Q1 2021 450.000 30,0% 400.000 25,0% 350.000 300.000 20,0% 250.000 15,8% New 15,0% Accounting 200.000 Principle 11,3% 10,9% 10,9% 14,0% 10,0% IFRS 16 8,7% 9,4% First Time 8,5% 8,6% 7,9% 8,0% 7,6% 8,3% 150.000 10,0% 7,7% 7,2% 7,6% 7,1% Impact 6,7% 7,0% 7,1% 100.000 5,0% 50.