Gpi Spa · MIL:GPI
Gpi Spa — Investor Presentation (February 2023)
43 slides from Gpi Spa's investor presentation, Feb 23, 2023
Slide 1: Investor Presentation February 2023
INVESTOR PRESENTATION FEBRUARY 2023
Slide 2: Vision, Mission, Values
2 VISION 35 years of experience, History of To be the protagonists in the path of Growth management team with a track record of internal growth and technological and sustainable M&As transformation of prevention and care processes for health care and the well-being International solutions used by 2,
Slide 3: Technology with a Human Approach
3 Technology with a Human Approach DESIGN SERVICES KNOW-HOW CONSULTANCY
Slide 4: A History of Steady Growth
4 a History of 70% Steady Growth > 8.6% Software > +15% Automation > +24% YoY Recurring fees Pay > +20% > 355 ICT > +10% 327 Care ~ +1% + 11.2% 271 H1oH1 M&A deals € 200 M on adj. Revenue 11.0% in the last 6 years on tot. Revenue 169 15.2% > 14.9% on tot. Revenue 10.3% 14.8% 152 9.7% 10.2% 117 50 >
Slide 5: Geographic Footprint and Customer Base
5 Geographic Footprint Customer Base Italy: the entire offering Health Public 81.3% DACH: Blood, HIS, Virtual Care (VC), Automation • Healthcare Authorities RoW: Blood, Automation, Virtual Care • Hospitals (mainly in Europe & the Americas) • Public providers (in-house) • Regions, Provinces RoW 9.4%
Slide 6: Software H1 22
6 Modular and integrated information systems: • Clinical – HIS Software H1 22 • Blood Management System 49% • Business Intelligence, Data analytics • Health ERP • HR PA Recurring fees • Other - Health Social Care | Virtual Care (tech), etc. 2° player ITA on adj. Revenue 19.7% 1-3 years Average contr
Slide 7: Care H1 22
7 Care H1 22 Flexible and broad offer of services such as: • Access to Care - health care administrative services 91% • Virtual Care (services & devices) Recurring fees 1° player ITA 4-6 years Average contract length 3.5% 3.0% 2.9% on adj. Revenue 87.6 45% tenders win-ratio 3.0% 2.5% 2.6% on Revenue
Slide 8: Other SBAs H1 22
8 Revenue € m EBITDA € m Other SBAs H1 22 19.9% 7.2 AUTOMATION 4.7 5.3 14.1% Automated Pharmacy Warehouse 9.2% 1.4 • Retail 0.7 • Hospital 0.4 • Wholesaler and other industries H1 20 H1 21 H1 22 H1 20 H1 21 H1 22 PAY 28.3% 26.7% e-Payment and e-Mandate sw 6.4 25.5% 5.4 Electronic Storage 1.5 1.7 POS
Slide 9: Highlights
9 Highlights Rating Agency Confirms A3.1 Public Rating | A- S&P |A3 Moody’s | A-1 Fitch equivalent Acquisition of the Tesi Group 65% | 35% put&call | EV € 90 M € Share Capital Increase ~ € 140 M Entering the Japanese market with pharmacy robots New contracts in Greece, Estonia, Saudi Arabia (whole c
Slide 10: Sustainability and the Health Care Market
10 Sustainability and the Health Care Market DIGITAL Increasing Health Spending TRANSFORMATION • Demographic factors (population ageing) • Redesign processes • Citizens and patient expectations • New technologies and treatments • Prevention and control of NCDs Chronic diseases befall the world at la
Slide 11: Digital Health: the Solution for the Health Care Market
11 Digital Health: the Solution for the Health Care Market Current environment Digital health solution Effects and streamlining Resources optimization and Shortage of medical staff AUTOMATION impact on average (doctors, nurses) hospitalization Complex and intricate Process facilitation and MANAGEMEN
Slide 12: Fast Growing Global and European Markets of IT Software and Services in Health Care
12 Fast Growing Global and European Markets of IT Softwares and Services in Health Care Global sales ($ bn) European Sales ($ bn) +12.2% 112.5 +12.2% 35.7 100.2 31.4 89.0 27.9 79.7 59.1 25.3 69.4 52.0 21.5 45.9 41.5 35.7 48.2 53.4 38.2 43.1 33.7 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Rest
Slide 13: Digital Healthcare & BPO in Italy
13 Digital Healthcare & BPO in Italy Potential effects of NRRP on the Italian digital healthcare market CAGR $ bn 21-24 € 5.8 bn +10.9% 2021-2026 Funds dedicated to the SW & IT Services1 2.3 digitalization of healthcare of which: BPO (Business Process Outsourcing) 2.0 Telemedicine2 1.8 • € 3.6 bn 1.
Slide 14: Competitive Ranking – Italian Top Players
Competitive Ranking – Italian Top Players Software BPO AtC (Business Process Outsourcing) Company Focus on Addressable market Company HC ca. € 1 bn ✓ 5 Top Players ✓ Through 35%1 ~50% dedicated healthcare division Reply’s subsidiary Through GPI has a potential reach dedicated healthcare division of
Slide 15: Strategic Pillars of the Business Plan 2022 – 2024
15 Strategic Pillars of the Business Plan 2022 – 2024 Values, Mission and Vision 1. 2. 3. 4. Global Leader Interconnected Innovative and Secure B. Structure, Processes and Governance A. Sustainability, Impact, Brand and Reputation
Slide 16: Strategic Initiatives
16 Strategic Initiatives Rationalisation and Global market leader Software Turnover increase in Italy innovation of product in Blood Management Systems portfolio Become the national Care & Virtual Consolidating BPO’s position in reference operator and Development of a telemedicine Care the public an
Slide 17: Strategic Pillars of the Business Plan 2022 – 2024
17 Strategic Pillars of the Business Plan 2022 – 2024 • Develop and implement a sustainability plan with particular reference to the social component, in the field of Sustainability, health care, measuring potential impacts through defined metrics (SDG n 3 Good Health UN 2030 Agenda) A Impact, Brand
Slide 18: M&A Guidelines
18 M&A Guidelines Become a Major European Player will keep on investing in software companies both abroad and in Italy to expand its product portfolio Focus on international software companies mainly operating in: Blood Management LIS with an EBITDA margin > 16% Product Portfolio Evolution: Software
Slide 19: Significant M&A Track Record
19 Significant M&A Track Record
Slide 20: Acquisition of Tesi Group
20 Acquisition of Tesi Group The Acquisition LIS & RIS/PACS Acquisition of Put & Call Blood 65% of the share options on the SOFTWARE Clinical activities capital remaining 35% Solid customer base 29.0 Closing 21.11.2022 >300 >200 >200 Clinical imaging 11.7 Laboratories Transfusional Enterprise centre
Slide 21: Capital Increase Fueling M&A and Organic Growth
21 Capital Increase Fueling M&A and Organic Growth Issuer Transaction type Amount Pre-emptive Subscription rights € 140 m Capital increase Subscriptions 14.12.2022 € 13.15 no exit strategy CDP Equity € 70 m 3 years lock-up agreement 10.6 M new ordinary shares FM Srl € 35 m CDP Equity is a long-term
Slide 22: Financial Targets 2024
22 Financial Targets 2024 Including Capital Increase of € 140 mn €m 2021 2024 Organic Revenues > 420 mn CAGR 2021-2024 > 8.5% REVENUES 327 > 500 Organic & inorganic Revenues > 500 mn CAGR 2021-2024 > 15% EBITDA 15.2% > 17.0% Margin NFI1 3.1 X EBITDA < 2.5 X EBITDA pro forma2 Note: (1) NFI includes l
Slide 23: Appendix H1 22
Appendix H1 22
Slide 24: Solid Growth H1 22
24 Solid Growth H1 22 Revenue € 168.9 m +11.2% €m H1 22 H1 21 thanks to the contribution of the SBAs: • SW € 57.7 m +11.1% 10.5% organic Revenue & other income 168.9 151.8 • Care € 87.6 m +9.1% Adjusted Revenue1 158.1 138.1 • Other € 23.6 m +20.6% EBITDA: € 17.3 m | 11.0% on adj. Revenue EBITDA 17.3
Slide 25: Financial Highlights H1 22
25 Financial Highlights H1 22 €m 30 31 Non-current assets Jun. Dec. • investments in new innovative products and solutions 2022 2021 (developed in-house), mainly related to SBA Software • € 5 m investment in venture capital Non-current assets 174.4 166.8 “service tech sub-fund” of CDP venture capita
Slide 26: Net Debt
26 Net Debt Net Debt According to New ESMA Guideline No. 39, issued on March 4th 2021 Investments Tot. € 13.4 m Intangibles € 7.5 m of which € 5.3 m R&D Tangibles € 2.8 m M&A € 3.1 m VC € 5.0 m
Slide 27: Appendix FY21
Appendix FY21
Slide 28: Solid Growth FY21
28 Solid Growth FY21 Revenue € 326.9 m +20.6% | 16.2% organic €m FY21 FY20 thanks to the contribution of the SBAs: • SW € 117.6 mn +14.6% Revenue & other income 326.9 271.0 • Care €166.2 mn +25.4% Adjusted Revenue1 298.1 250.9 • Other € 43.1 mn +20.1% EBITDA: € 49.8 m | 16.7% on adj. Revenue EBITDA
Slide 29: Financial Highlights FY21
29 Financial Highlights FY21 €m Non-current assets FY21 FY20 Restated The increase in Non-current is linked to the investments, including the acquisition of Medinfo and R&D Non-current assets 166.8 158.4 Net Working Capital The increase is due to the rising amount of receivables, Net working capital
Slide 30: Software FY21
30 Modular and integrated information systems: Software FY21 • Clinical – HIS • Blood Management System • Business Intelligence, Data analytics +15.5% • Health ERP 2° player ITA • HR PA 1-3 years Average contract length • Other - Health Social Care | Virtual Care (tech), etc. 49% 116.8 50% tenders w
Slide 31: Care FY21
31 Care FY21 Flexible and broad offer of services such as: +25.4% 138.2 • Access to Care - health care administrative services • Virtual Care (services & devices) 1° player ITA 91% 4-6 years Average contract length 113.9 21,9 45% tenders win-ratio 97% Retention Recurring fees 6.5% 6.4% 1.7% AtC - ad
Slide 32: Other SBAs FY21
32 Other SBAs FY21 AUTOMATION Automated warehouse sales, +20% maintenance and service fees • Retail Pharmacies 43.1 • Hospital Pharmacies • Wholesaler and other industries 35.8 14.0 Automation PAY 11.9 ePayment services POS rental and related software 11.3 Pay • Large-scale Retail 8.0 • Local PA 9.0
Slide 33: Appendix Featured Products
Appendix Featured Products
Slide 34: A New Architecture of Integrated Solutions
34 A New Architecture of Integrated Solutions Threshold Values and Alert Structured Interaction with Patients Monitoring Dashboard Proactivity and Care IoT – Sensors – Dedicated Apps Intelligent Cloud Management Dataflow Monitoring Direct Interaction with Patients Technologies for Enabling Disease P
Slide 35: Phoema Features
35 PHOEMA FEATURES Remote consulting by audio-video conference system Imaging (access, sharing and diagnostic assistance) Telemonitoring (24h/7) with advanced Multiparametric medical devices Remote diagnosis 35
Slide 36: Blood Management System
36 Blood Managment ranks 5th on the global market of Blood transfusion sw System Software France USA USA USA Italy USA USA Australia USA Germany USA China China China USA Source: QY Research
Slide 37: Gpi 4 Blood / Gpi Blood
37 • Gpi 4 Blood Blood Banks DONORS TRASFUSIONS BI MIDDLEWARE (INSTRUMENTS INTERFACES) Tissue Banks TISSUE BANKS BI MIDDLEWARE Human Milk Banks HMB BI MIDDLEWARE Cells Therapy CELLS THERAPY BI MIDDLEWARE Cord Blood Banks CORD BLOOD BI MIDDLEWARE HLA HLA BI MIDDLEWARE Laboratory LIS BI 37 MIDDLEWARE
Slide 38: Vein-to-Vein Process
38 Blood Donor Centers Hospitals «VEIN-TO-VEIN» PROCESS
Slide 39: A New Concept in Pharmacy Automation
39 A New Concept in Pharmacy Automation RIEDL PHASYS ⚫ The fastest system on the market: 5 m/sec ⚫ Wireless: no cable ⚫ Manages products of various shapes ⚫ Multi Picking ⚫ Fully integrated and tailored ⚫ Positive air pressure ' No more dust '
Slide 40: Forward Thinking: Two Main Strategic Trajectories
40 Forward Thinking: Two Main Strategic Trajectories Population Health Management Models and Detect the demand for care, Virtual Care Build and keep technologies Regression models & clustering (AI) • Telemedicine 1 for the Patient Pathway (PDTA) • IoT and Augmented Telemed connections • Audio Video
Slide 41: Investment Quick Take
41 Investment Quick Take Shareholder structure 1 FM srl (Manzana Family) GPI IN THE STOCK MARKET 34.6% Leadership and Uniqueness CDP Equity 46.7% ISIN: IT0005221517 Ticker: GPI:IM Treasury Shares 0.3% Price 21 Feb. 2023 € 13.66 Market 18.4% Growth and Visibility Ordinary Shares 28,906,881 Capitalisa
Slide 42: IR Contact details
42 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
Slide 43: Disclaimer
43 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 busi