Gpi Spa · MIL:GPI
Gpi Spa — Investor Presentation (November 2021)
30 slides from Gpi Spa's investor presentation, November 2021
Slide 1: Investor Presentation November 2021
INVESTOR PRESENTATION NOVEMBER 2021
Slide 2: Sustainability and the Health Care Market
Sustainability and the Health Care Market DIGITAL TRANSFORMATION Population ageing • Redesign processes • around 1/3 over 60 yo (Italy) • general trend • Prevention and control of NCDs Chronic diseases (NCDs1) befall the world at large • increasing prevalence of (multiple) chronic conditions • Integ
Slide 3: Your Global Partner for a Better Future
> 30 years of experience, management History of Your Global Partner Growth team with a track record of internal growth and M&As for a Better Future International footprint solutions used by 2,400 customers in more than 60 countries We develop software, technologies and services to help innovating th
Slide 4: History of Steady Growth
> 315 2013 Orizzonte fund providing equity financing First minibond issued. 271.0 a 2016 merger between GPI and the SPAC CFP1. 240.9 History of Joining the stock market AIM Italia. 203.7 Steady Growth 2018 graduated from AIM FY +29.6% to MTA main market of Borsa Italiana. 151,8 YoY > € 100 M M&A dea
Slide 5: Strategic Business Areas
Strategic Business Areas TECHNOLOGIES 51.1% Pay 3.3% Automation 4.4% ICT 5.5% Software 37.9% SERVICES 48.9% Care Notice: % revenue by SBA out of total revenue in FY 2020
Slide 6: Supply Lines
Supply Lines PJ • hospital information system • health social care • blood transfusion & tissue bank • health administration Software • Business Intelligence, data analytics main SBAs • other 86.8% of total revenue • BPO health care administrative svc. (AtC,..) • telemedicine Care • other • automate
Slide 7: Actual Projects
Actual Projects Real answers to Covid- 19: concretely implementing the Group’s vision Virtual Care Vaccination programme Drive-in Swabs Region Lombardia Region Valle d’Aosta Region Lazio Telemedicine Software, Artificial Intelligence, Software solutions and devices for wearables, technological and c
Slide 8: Highlights and Main M&As
Highlights Main M&As 1H2021 FY2020 • Contracts awarded as at 30 June 2021 € 79 M • Oslo Italia (Business Intelligence Health Care SW, Big Data & Win ratio 48% Analytics) | € 4.3 M Rev. | 30% EBITDA • Contract awarded Region Lazio • Umana Medical Technologies, Malta start up - innovative Multichannel
Slide 9: Solid Growth H1 2021
Solid Growth H1 2021 Revenue +29.6% (22% organic) EBITDA +35.2% €M H1 2021 H1 2020 Revenue € 151.8 M thanks to the contribution of: Revenue & other income 151.8 117.2 • SW € 51.9 M +25.0% 8.2% Org. • Care € 80.3 M +31.7% 31.1% Org. Adjusted Revenue(1) 138.1 108.1 • Other € 19.6 M +33.7% 23.4% Org. E
Slide 10: Financial Highlights H1 2021
Financial Highlights H1 2021 A3.1 CERVED Rating A- S&P |A3 Moody’s | A-1 Fitch equivalent €M H1 2021 FY 2020 Restated Net working capital 126.2 109.1 Non-current assets 167.7 158.4 Other operating assets/(liabilities) (72.6) (59.2) NET INVESTED CAPITAL 221.6 208.2 Shareholders’ equity 73.5 83.4 Net
Slide 11: Segmentation
Segmentation Revenue by EBITDA by Revenue by Revenue by Strategic Business Area Strategic Business Area Geographic area Client type* 6.4% 4.4% 12.9% 17.5% 10.3% 34.2% 6.9% 14.3% 68.3% 52.9% 82.3% 89.7% Software Care Other Software Care Other Italy Export H-Pub H-Pri NH-Pri NH-Pub *FY 2020 data - H-p
Slide 12: Software
Software 2° player ITA * 42% Recurring fees* 1-3 years Average contract length 30% Tenders win-ratio* Δ +25.0% 101.1 89.1 27.0% 25.3% 32.2% FY HY Δ +13.6% 24.8% 27.3 7.4% 51.5 FY HY 18.7% 8.7% 22.1 13.9% 41.1 12.5% 17.8% 9.7 Clinical Health ERP 7.3 90.8 Blood MS HR 90.3 Business Intelligence Other 2
Slide 13: Care
Care 1° player ITA * 81% Recurring fees* 4-6 years Average contract length Δ +9.3% 37% Tenders win-ratio* 113.9 104.2 4.7% 1.3% Δ +31.7% FY HY 67.0 52.4 FY 6.1% 6.5% HY 94.0% 7.4 6.4 3.2% 3.0% AtC - administr. svc. Telemedicine 1.7 2.0 90.8 90.3 Other 22.3* Adj. Revenue €M EBITDA €M Revenues by Segm
Slide 14: Other SBAs
Other SBAs AUTOMATION Automated warehouse sales, maintenance and service fees • Retail Pharmacies FY HY • Hospital Pharmacies Δ +19.4% • Wholesaler and other industries 35.9 30.0 12.0 PAY 11.5 Automation Δ +33.7% ePayment services POS rental and related software 9.0 19.6 FY HY Pay 14.7 15.1% • Large
Slide 15: Competitive environment and strategic guidelines
Competitive environment and strategic guidelines
Slide 16: Market Assessment Software and IT Services
Market Assessment Software and IT Services Source: Gartner Hospital + Physician survey (2021 Q2) value of the Global market for health care software + IT services in 2020 $67.7 B +7.3% 2020 on 2019 CAGR 20 – 24: 12.3% 50.5% North America CAGR 20 – 24: 12.0% 24.8% Western Europe CAGR 20 – 24: 11.0% $
Slide 17: IT Market 2018 – 2024 (Italy)
IT Market 2018 – 2024 (Italy) Source:Netconsulting Cube (June 2021 Q2) - data in € M, % TOTAL € 1,346.3 M CAGR 20-24 6.8% SW + Svc . € 1,091.3 M CAGR 20-24 6.9% 17
Slide 18: Competitive Ranking
Competitive Ranking Top Players in Italy Software BPO AtC Focus on Company Brief description HC Ranking >>29 28MMcitizens cittadinireached serviti ICT solutions and related services for public and private healthcare providers. 1st Company Brief description Ranking ICT solutions, administrative and
Slide 19: International Growth +101%
Footprint in 70 International Growth +101% Countries Export 10.3% of total revenue (6.6% H1 2020) Offices in 11 Countries Blood Management System Gpi is globally ranking among Top 5 providers Pro-forma earnings > € 20 M BMS strategic software for the Health Systems of all Countries
Slide 20: Strategic intentions 2020-2024: the pillars confirmed
Strategic intentions 2020-2024: the 5 pillars confirmed 01 02 03 04 05 EVER MORE PRIVATE HEALTH FROM FROM GLOBAL HEALTH CARE SW PRODUCTS/ PROVIDER CARE MARKET SERVICES TO TO PARTNER LEADERSHIP INTEGRATED in ITALY SOLUTIONS Doubling up of Major regional and Greater integration of Multi-business Stron
Slide 21: Economic–Financial Targets Update for 2024
Economic–Financial Targets Update for 2024 New targets estimated by equal scope of consolidation as of 31/12/2020 Previous Targets Updated Targets > € 295 M REVENUE > € 330 M CAGR 19-24 > 4% CAGR 20-24 > 5% >15.0% EBITDA MARGIN >16.5% ≤ 1xEBITDA NET DEBT ≤ 1xEBITDA
Slide 22: M&A Guidelines
M&A Guidelines
Slide 23: Historic M&A process
1988 cri established in October e Historic M&A process ACQUIRED Spid (16%) Selfin heath) INCREASED HOLDING IN Sysline (70%) ACQUIRED & CONSOLIDATED ACQUIRED Logicast (100%) GCS theath) Larca (100%) Axgentea (10%) Spid (78%) ACQUIRED ‘sysline (90%) Sysline(6s%) Hit (90%) ESTABLISHED. ESTABLISHED Self
Slide 24: M&A Guidelines
M&A Guidelines Become a Major European Player TARGET • Product Portfolio • Structured software Evolution companies software|services| • Product Portfolio territories Evolution Blood Management System Software
Slide 25: M&A Guidelines: Funding Sources
M&A Guidelines FUNDING SOURCES • EXERCISED WARRANTS € 22.3 M • BOND • DEBT FINANCING
Slide 26: Investment Attractiveness
Investment Attractiveness Leadership and Uniqueness GPI IN THE STOCK MARKET ISIN: IT0005221517 Ticker: GPI:IM Price 12 Oct 2021 12.80 Growth and Visibility Ordinary Shares: 18,260,496 Capitalisation: 234 Technology and Service ANALYSTS’ COVERAGE – Target price SHAREHOLDING STRUCTURE Midcap | Tp Icap
Slide 27: IR Contact details
IR Contact details Via Ragazzi del '99, 13 - 38123 Trento T +39 0461 381515 investor.relations@gpi.it Fabrizio Redavid Lorenzo Giollo C. +39 335 1035499 C. +39 340 8223333 fabrizio.redavid@gpi.it lorenzo.giollo@gpi.it - Maggio 2018
Slide 28: Disclaimer
Disclaimer The material in this presentation was prepared by GPI S.p.A. ("GPI” or the “Company”) without any paragraph 2, letters a) to d) of the Order; and (C) other persons to whom this presentation can be form of independent verification; it is general, basic information about the current busines
Slide 29: Vein-to-Vein Process
«VEIN-TO-VEIN» PROCESS Blood Donor Centers Hospitals 37
Slide 30: Global Competitors
ranks 5th on the global market pro-forma revenue ca $ 26 M - 48% gross margin France USA USA USA GLOBAL Italy USA USA COMPETITORS Australia USA Germany USA China China China USA 38