Convergenze Spa Societa Benefit · MIL:CVG
Convergenze Spa Societa Benefit — H1 2024 Earnings Presentation
38 slides from Convergenze Spa Societa Benefit's earnings presentation, Oct 3, 2024
Slide 1: 1H2024 Results
1H2024 Results October 3-4, 2024
Slide 2: Speakers
SPEAKERS Grazia Pingaro Rosario Pingaro Vice-Chairman and Chairman and CEO Director BU Energy 2
Slide 3: Agenda
Agenda Company overview Business units Strategic guidelines Financials Sustainability Final remarks Appendix 3
Slide 4: Company overview
Company overview Business units Strategic guidelines Financials Sustainability Final remarks Appendix 4
Slide 5: At a Glance
AT A GLANCE CONVERGENZE: INNOVATION AND SUSTAINABILITY DRIVING THE FUTURE Convergenze S.p.A. Benefit Corporation is an integrated technology operator, active nationwide in the Telecommunications and 100% Green Energy sectors, with charging points for electric vehicles through its patented EVO networ
Slide 6: Corporate Governance
CORPORATE GOVERNANCE Shareholding structure (27.09.2024) 1.18% 19.21% 9.56% Corporate governance Board of Directors Market % Ordinary 21.97% Pingaro Rosario Chairman Rosario Pingaro 24.01% Shares Grazia Pingaro Pingaro Grazia Vice Chairman Sage Gestioni S.r.l.(*) Pescetto Paolo Director Own Shares P
Slide 7: 2022 – 2024: Track Record
2022 – 2024: TRACK RECORD Expansion of connection offerings with the launch of Agreement Merge of Positivo Fixed Wireless with Agile approved by the Closing technology at Content Earn Out BoD Positivo 60 Gigahertz Positivo 30.06.2022 22.05.2023 17.07.2023 04.09.2023 12.09.2023 27.12.2023 01.02.2024
Slide 8: Growth and Integration
GROWTH AND INTEGRATION STRATEGIC DEVELOPMENT M&A Finalized the acquisition of Positivo S.r.l., expanding into underserved areas. Between 2022 and 2024, the Earn-Out was defined, and the merger with Convergenze was approved, strengthening market position STRATEGIC Established a company in Albania to
Slide 9: Business units
Company overview Business units Strategic guidelines Financials Sustainability Final remarks Appendix 9
Slide 10: TLC
TLC SEAMLESS CONNECTIVITY AND CLOUD SOLUTION INFRASTRUCTURE Convergenze offers voice + data bundles locally, regionally, and nationally, following General Authorization from the Ministry of Economic Development (MISE). • Since 2014, authorized for electronic communication networks across Italy • In
Slide 11: Energy
ENERGY EMPOWERING THROUGH SUSTAINABLE ENERGY AND ELECTRIC MOBILITY Convergenze promotes electric mobility through its patented EVO network, featuring 29 EVO charging stations and 3 EVO Hospitality stations across Naples, Salerno, Avellino, Siena, and Florence. • Since 2015, Convergenze has offered e
Slide 12: Energy - EVO Network
ENERGY - EVO NETWORK A PATENT TO ENHANCE INNOVATION IN MOBILITY • A nationwide supplier of electricity and natural gas, Convergenze has set up a network of charging stations and points called EVO (Electric Vehicles Only), for which it has obtained a patent for an industrial invention, in support of
Slide 13: Media & Content Delivery Network
MEDIA & CONTENT DELIVERY NETWORK BU MEDIA&CONTENT CONTINUE TO STRENGTH ITS EXPERTISE In response to the rapid digital revolution and the increasing convergence of entertainment, media, telecommunications, and Internet services, Convergenze has launched a new Business Unit “Media & Content Delivery”
Slide 14: Strategic guidelines
Company overview Business units Strategic guidelines Financials Sustainability Final remarks Appendix 14
Slide 15: Strategic Development
STRATEGIC DEVELOPMENT GROWTH DUE TO: M&A AND CONSOLIDATION M&A Possibility of growing through M&A by acquiring other TLC players with a complementary geographical location. NETWORK EXPANSION AND CONSOLIDATION Convergenze aims at being recognized as a national operator by expanding its presence throu
Slide 16: Product Development
PRODUCT DEVELOPMENT VERTICALLY AND HORIZONTALLY INTEGRATED OPERATOR PROPRIETARY FIBRE OPTICS AND WIFI Extension of the proprietary fiber-optic network (FTTH) in municipalities where the company has reached a 'critical mass' of customers served by wireless technology. CROSS SELLING AND INCREASING ACT
Slide 17: Financials
Company overview Business units Strategic guidelines Financials Sustainability Final remarks Appendix 17
Slide 18: KPI 1H2024 vs 1H2023
KPI 1H2024 VS 1H2023 STRONG RESULT IN VOLUME AND PROFITABILITY LEVERAGING SYNERGIES €/million 12.01 2.27 1.27 10.41 73% 6.45 220% 1.31 5.47 0.40 4.94 5.56 0.61 1H2023 1H2024 1H2023 1H2024 5.57 1H2023 1H2024 TLC ENERGY EBITDA ADJ EBIT REVENUES 1,179% 4.85 0.05 1H2023 1H2024 FY2023 1H2024 NET INCOME N
Slide 19: Income Statement 1H2024 BU
INCOME STATEMENT 1H2024 BU GROWING TREND IN TLC AND EFFECTIVE MANAGEMENT ACTIONS IN ENERGY INCOME STATEMENT HIGHLIGHTS BU TLC BU ENERGY € 1H2023 1H2024 € 1H2023 1H2024 Sales Revenue 4,944,786 5,558,539 Sales Revenue 5,472,502 6,450,333 Value of Production 5,012,823 5,636,250 Value of Production 5,48
Slide 20: VOP: Performance
VOP: PERFORMANCE VALUE OF PRODUCTION TREND INFLUENCED BY ENERGY PRICES €/million Energia TLC Totale 30.0 28.3 VALUE OF PRODUCTION BREAKDOWN 25.0 (1H2024) 9.5 22.8 18.9 20.0 16.7 16.4 10.6 15.0 13.8 9.3 7.0 7.6 10.5 12.1 VOP 46.6% 10.0 6.8 53.4% 12.1 18.8 5.6 5.0 5.0 12.2 9.7 8.8 9.6 7.0 5.5 6.5 0.0
Slide 21: EBITDA Adj: Performance
EBITDA ADJ: PERFORMANCE CONSISTENT MANAGEMENT ACTIONS ALLOW AN INCREASE IN EBITDA €/million 3.25 1.82 1.45 0.20 2.29 2.27 1.63 0.50 0.55 1.34 1.31 0.36 2.95 0.12 2.66 2.57 1.79 1.71 1.22 1.27 1.34 (0.03) (0.83) (1.12) FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 1H2023 1H2024 EBITDA Adj. TLC EBITDA Adj
Slide 22: NFP Bridge (1H2024)
NFP BRIDGE (1H2024) FCFO EXCEEDING CAPEX ALLOWING IMPROVEMENT IN NET DEBT €/million C n an i le C inan ial ar es an i le C inan ial C iy an e 22
Slide 23: Sustainability
Company overview Business units Strategic guidelines Financials Sustainability Final remarks Appendix 23
Slide 24: Benefit Corporation
BENEFIT CORPORATION Convergenze became a Benefit Corporation on 2020 thanks to the focus on sustainability and corporate social responsibility. SUSTAINABILITY GROWTH OF LOCAL AREAS RESEARCH AND Headquarters fully AND EMPLOYEES DIGITALIZATION Sports and cultural events Promotion of research and provi
Slide 25: Convergenze's SDGs
C V RG Z ’S SG RG S Spread and promote the Support the territories through Fostering digitization culture of eco-sustainability the promotion of sports and via ultra-broadband and green mobility cultural events and initiatives electronic networks Promote R&D of Spread the culture of sustainable Prom
Slide 26: Final remarks
Company overview Business units Strategic guidelines Financials Sustainability Final remarks Appendix 26
Slide 27: Final Remarks
FINAL REMARKS • The merger of Positivo and the expansion in Albania and the supply diversification with the new Media & Content Delivery BU confirm the strategic evolution of Convergenze • Actions in Energy BU through renewable energy created a more sustainable offering, whilst the Media & Content D
Slide 28: Appendix
Company overview Business units Strategic guidelines Financials Sustainability Final remarks Appendix 28
Slide 29: Convergenze's Story
C V RG Z ’S S R Convergenze joins the Borsa Italiana's ELITE programme for the IPO results achieved in Convergenze terms of economic starts the listing General growth. process to raise Convergenze Authorisation financial signed an Establishment of obtained for the Convergenze becomes resources to Ag
Slide 30: Income Statement Highlights
INCOME STATEMENT HIGHLIGHTS INCOME STATEMENT HIGHLIGHTS € 1H2023 1H2024 Sales Revenues 10,417,288 12,008,872 Value of Production 10,493,054 12,096,073 Total Operating Costs (9,183,052) (9,830,285) EBITDA Adj. 1,310,002 2,265,788 EBITDA Margin Adj. 12.5% 18.7% EBIT 398,055 1,273,308 EBT 127,147 941,1
Slide 31: Balance Sheet Highlights
BALANCE SHEET HIGHLIGHTS BALANCE SHEET HIGHLIGHTS ASSETS LIABILITIES AND EQUITY € FY2023 1H2024 € FY2023 1H2024 Fixed assets 13,730,664 14,188,776 Net Financial Position 5,573,053 4,848,825 Net working Capital (1,619,733) (2,393,880) Equity 5,656,523 5,994,312 Provisions and other (881,355) (951,759
Slide 32: April 2024: Establishment of a Company in Albania
APRIL 2024 ESTABLISHMENT OF A COMPANY IN ALBANIA TO SEEK STRATEGIC EXPANSION On April 19, 2024 - Convergenze has approved the establishment of a limited liability company under Albanian law. This operation has in its geographical expansion in Albania its strategic reasoning; a market still small in
Slide 33: Positivo Offers Technology Solutions Covering Digital Divide Areas
2022 - 2024 POSITIVO OFFERS TECHNOLOGY SOLUTIONS OF INTERNET CONNECTIONS COVERING "DIGITAL DIVIDE" AREAS IN SALERNO 30.06.2022 - The closing regarding the acquisition of the 100% of the share capital of Positivo S.r.l. has taken place. The transaction enables expansion into currently uncovered terri
Slide 34: BU Media&Content Delivery Network Becomes Active
2023 - 2024 BU MEDIA&CONTENT DELIVERY NETWORK BECOMES ACTIVE 12.09.2023 - Signed an agreement to offer entertainment content starting in the first quarter of 2024 to its subscribers and throughout Italy, with the Spanish company Agile Content, an international reality of on-demand and live pay strea
Slide 35: Growth Projects in Smart Metering Selected by Suez Italy
2023 CONVERGENZE'S GROWTH PROJECTS IN SMART METERING SELECTED BY SUEZ ITALY 04.09.2023 - It has been selected by Suez Italy S.p.A., which was awarded the tender in a grouping with other companies in the area, to provide a network solution and IT platform for remote reading of water meters. The solut
Slide 36: July 2023: 60GHz Fixed Wireless Solution
JULY 2023 CONVERGENZE LAUNCHES THE 60GHZ FIXED WIRELESS SOLUTION ON A PROPRIETARY WIFI NETWORK WHICH ALLOWS A VERY HIGH- PERFORMANCE CONNECTION On July 17, 2023 - Convergenze expands its offering of connection solutions with the launch of 60 Gigahertz Fixed Wireless technology, capable of offering u
Slide 37: Disclaimer
Disclaimer This document has been prepared by Convergenze S.p.A. SB (hereinafter, also the "Company") for information purposes only and for use at meetings with institutional investors and financial analysts in presentations of the Company's results and strategies. For further details on Convergenze
Slide 38: Contacts
Contacts Investor Relations Convergenze: Rosario Pingaro investor@convergenze.it Investor Relations Consultant: CDR Communication Simone Rivera simone.rivera@cdr-communication.it Silvia di Rosa silvia.dirosa@cdr-communication.it Follow us: Internet Risultati immagini per twitter logo Risultati immag
Convergenze S.p.A. Società Benefit — H1 2024 Earnings Presentation on 6ix