Slide 1: 1Q 2024 Results
1Q 2024 Results Ended March 31, 2024 Milan – May 14, 2024
Slide 2: Agenda
Agenda 1 1Q’24 Highlights and Updates 2 1Q’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: 1Q'24 Highlights and Updates
1 1Q’24 Highlights and Updates J. Mastragostino | Chief Investor Relations Officer
Slide 4: Key data
Key data REVENUES € 98.4 M EBITDA Adjusted € 15.4 M (+3% vs PY) EBITDA EBIT Adjusted +14% vs PY € 8.6 M € 8.1M NET PROFIT Adjusted € 5.8 M FCF Adjusted of cont. ops. NFP € 27.2 M € 240.1 M Results at 31/03/2024 vs € 102 M in FY2023 4
Slide 5: 1Q 2024: Gradual start of the year, driven by well-known seasonality
1Q’24 Highlights and Updates 1Q 2024: Gradual start of the year, driven by well-known seasonality • Results: - Revenues at € 98.4M in 1Q’24 (+ 14.4% vs PY); - EBITDA Adjusted at € 15.4M in 1Q’24 (+ 2.7% vs PY) mainly driven by strong growth in DT & CS and historically well-known BI’s seasonality, EB
Slide 6: 1Q 2024 Results
1Q’24 Highlights and Updates 1Q 2024 Results 1Q 2024 results show Revenues of €98.4 €M million euros, EBITDA Adjusted of €15.4 million euros and Net Profit of € -2.0 million euros. Growth was registered both in Revenues (c. +14%) and EBITDA Adjusted (c. +3%) EBITDA Adjusted amounted to 15.4 million
Slide 7: EBITDA Adjusted Quarter by Quarter – back end weighted business
1Q’24 Highlights and Updates EBITDA Adjusted Quarter by Quarter – back end weighted business €M Significant 2H 2024 to have noticeable 2H historical weight driven by 60% 61% 63% EBITDA business model generation 46.1 40.0 29.5 22.6 22.9 19.1 17.7 19.0 16.2 15.0 15.4 14.5 11.7 Weight of each Q on Tota
Slide 8: 1Q'24 Financial Results
2 1Q’24 Financial Results O. Pozzi | Group Chief Financial Officer
Slide 9: 1Q 2024 Results – Income Statement
1Q’24 Financial Results 1Q 2024 Results – Income Statement 1Q 2024 with Acquisitions LFL2023 €M 1Q’24 % 1Q’23 % % on 2023 Δ Δ% Δ Δ% Revenues 98.4 100.0% 86.1 100.0% 90.1 100.0% 12.4 14.4% 4.1 4.7% Total Operating Costs (83.1) -84.4% (71.1) -82.6% (76.8) -85.2% (12.0) 16.9% (5.7) 8.0% Service & Other
Slide 10: 1Q 2024 Results – Having a clear view on P&L Adjustments
1Q’24 Financial Results 1Q 2024 Results – Having a clear view on P&L Adjustments €M EBITDA Operating profit (loss) Net profit from continuing operations 1Q’24 1Q’23 1Q’24 1Q’23 1Q’24 1Q’23 Reported income statement results 8.6 13.5 -3.1 4.3 -2.0 2.1 Non-recurring service costs 3.1 0.6 3.1 0.6 3.1 0.
Slide 11: 1Q 2024 Results – Balance Sheet
1Q’24 Financial Results 1Q 2024 Results – Balance Sheet €M 691.3 Net invested capital increased by €133.9 million compared to 31 Net 557.4 +24.0% December 2023 mainly because of the investment in ABF for a total of €155.1 million at the acquisition date, partially offset by the decrease in Invested
Slide 12: 1Q 2024 Results – NFP & FCF
1Q’24 Financial Results 1Q 2024 Results – NFP & FCF €M NFP Adjusted FCF of continuing ops 27.2 240.1 22.8 Main Changes in 1Q 2024: 5.9 1.6 • - €5.7M Put Options • + €2.3M Treasury Shares Non-recurring components • - €155.2M Acquisitions Free Cash Flow of Continuing Operations 102.0 21.1 21.4 • - €0.
Slide 13: 1Q 2024 Results – NFP Bridge
1Q’24 Financial Results 1Q 2024 Results – NFP Bridge €M + € 155.2M Acquisitions + € 5.7M Put Options 160.8 5.9 240.1 0.2 0.1 -1.1 -2.3 102.0 0.9 0.8 -27.2 0.99x NFP/EBITDA1 2.32x (1) Calculated as NFP/LTM EBITDA Adjusted 13
Slide 14: 1Q 2024 Results – NFP LTM Bridge
1Q’24 Financial Results 1Q 2024 Results – NFP LTM Bridge €M + € 232.2M Acquisitions 240.1 8.8 246.0 0.1 3.4 1.2 2.1 + € 13.8M Put Options -1.2 -1.1 -0.8 3.8 33.3 4.9 -61.4 1.0 0.04x NFP/EBITDA1 2.32x (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 1Q'24
Business Units Deep Dive Overview 1Q’24 €M Digital Trust Cybersecurity Group 51.3 23.9 42.4 20.7 11.6 15.8 2.1 2.3 1Q 2023 1Q 2024 1Q 2023 1Q 2024 1Q 2023 1Q 2024 1Q 2023 1Q 2024 REVENUES EBITDA Adj. REVENUES EBITDA Adj. Business Innovation 24.0 25.1 4.9 1.2 1Q 2023 1Q 2024 1Q 2023 1Q 2024 REVENUES
Slide 17: Digital Trust 1Q'24
Business Units Deep Dive Digital Trust 1Q’24 51.3 €M 5.6 Margin Margin 27.4% 30.8% 42.4 45.7 15.8 2.8 11.6 13.0 1Q 2023 1Q 2024 1Q 2023 1Q 2024 REVENUES EBITDA Adj. LFL 2023 Δ Acquisitions • Revenues amounted to 51.3 million euros, up by 21.1% (+7.8% on a 2023 base) of which 13.2% attributable to th
Slide 18: Cybersecurity 1Q'24
Business Units Deep Dive Cybersecurity 1Q’24 €M Margin Margin 23.9 10.2% 9.7% 20.7 2.1 2.3 1Q 2023 1Q 2024 1Q 2023 1Q 2024 REVENUES EBITDA Adj. • Revenues amounted to 23.9 million euros, growing 15.7% • Growth was registered in Cybersecurity mostly in the Implementation Services offer. Managed Secur
Slide 19: Business Innovation 1Q'24
Business Units Deep Dive Business Innovation 1Q’24 25.1 €M 2.7 24.0 22.3 Margin Margin 20.4% 4.8% 1.2 4.9 2.0 1Q 2023 1Q 2024 1Q 2023 1Q 2024 -0.8 REVENUES EBITDA Adj. LFL 2023 Δ Acquisitions • Revenues amounted to 25.1 million euros growing 4.4% vs PY because of a 7.1% decrease in organic and an in
Slide 20: Closing Remarks + Q&A
4 Closing Remarks + Q&A J. Mastragostino | Chief Investor Relations Officer
Slide 21: Guidance is confirmed
Closing Remarks + Q&A Guidance is confirmed Revenues EBITDA Adjusted NFP / EBITDA Adj. Dividends 2024 +21-23% +28-32% 1.7x-1.9x 30% of Net Profit vs PY of which 7% Organic of which 10% Organic PNRR’s potential positive benefits not included in guidance nor any additional M&A 21
Slide 22: 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 23: Thanks.
Thanks. Tinexta.com Investor Relations Contacts Tinexta Presentation Piazza Sallustio,9 E-mail info@tinexta.com Josef Mastragostino Download the presentation Roma, 00187, Italia Pec tinexta@legalmail.it Chief Investor Relations Officer Tel. +39.06.42012631 LinkedIn: Tinexta investor@tinexta.com