Amplifon SpA · MIL:AMP
Amplifon SpA — Q1 2020 Earnings Presentation
17 slides from Amplifon SpA's earnings presentation, Apr 29, 2020
Slide 1: Q1 2020 Results
QI 2020 Results Milan, April 29t*, 2020 amplifon
Slide 2: Disclaimer
Disclaimer The following applies to this document, the oral presentation of the information in this document by Amplifon S.p.A. (the “Company”) or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the “Information”). In accessi
Slide 3: Q1 2020: a strong start impacted by Covid-19 unprecedented crisis
QI 2020: a strong start impacted by Covid-19 unprecedent crisis Strong and decisive mitigation measures quickly implemented across the Group = Revenues down 7.2% at constant FX due to Covic-!9 outbreak, still outpacing the global hearing care retail market * — Organic contraction at -9.5% = +2.3% co
Slide 4: Measures to protect stakeholders during Covid-19 emergence
Measures to protect stakeholders during Covid-I9 emergence Health and safety of our people while serving safely our customers is our top priority Measures for core stakeholders = Company task force both at Group and country level = Health & safety measures for all employees, according to the specifi
Slide 5: Current trading conditions under Covid-19 emergence
Current trading conditions under Covid-I9 emergence April likely to be the most impacted month by Covid-I9 emergence due to current full lockdown measures in place in most countries = In January and February the Company delivered strong growth, in line with recent past performance = Trading started
Slide 6: Actions to mitigate financial impacts related to Covid-19
Actions to mitigate financial impacts related to Covid-I9 Strong and decisive cost containment measures quickly adopted Main cost categories! « Activation of Government social schemes and other employment support tools (primarily from April) Labour - Available in most markets where the Company opera
Slide 7: Actions to mitigate financial impacts related to Covid-19
Actions to mitigate financial impacts related to Covid-I9 Material reduction of investments and cash-outs to protect Cash Flow Ga Capex (~€90 million) Cash-out for M&A (~€90 million) Dividends (~€35 million) Suspension of all non-essential Capex starting from March - Essential Capex represents ~20-2
Slide 8: Company's financial solidity further reinforced
Company’s financial solidity further reinforced Refinancing securing additional ~€300 million credit lines and extending maturities almost completed Committed credit lines after refinancing (Em) Committed credit lines maturity after refinancing (€m) Principal Maturity 400 Bond 7-yr 350 2027 350 Priv
Slide 9: Q1 2020 Financial highlights
QI 2020 Financial highlights Strong performance across the board in January and February, with Covid-I9 emergence impacting from March = Revenues down 7.2% in LC Data in €m QI 2020 QI 2019 bh + Organic performance at -9.5%, due to Covid-I9 emergence impact in REVENUES. 363.5 392.0 7.3% March ° ° . «
Slide 10: Financial results by Region: EMEA
Financial results by Region EMEA: double-digit top-line performance until early March, with Covid-I9 impacting thereafter Data in €m Ql 2020 Ql 2019 A% REVENUES. 258.3 283.8 -9.0% Organic growth -IL4% Acquisitions +2.0% FX +0.4% EBITDA 50.5 619 18.4% Margin % 19.6% 21.8% - © Amplifon S.p.A. April 29
Slide 11: Financial results by Region: Americas
Financial results by Region AMERICAS: positive top-line performance thanks to an excellent first two months and a varied timing of the Covid-I9 impact across the Region = Revenues growth of +1.3% in LC Data in €m Ql 2020 Ql 2019 a% + Organic growth at ~+I%, despite Covid-19 emergence in March REVENU
Slide 12: Financial results by Region: APAC
Financial results by Region APAC: top-line performance impacted by bushfires in Australia in January and Covid-19 emergence mainly in March = Revenues down -4.1% in LC Data in €m ai 2020 ai 2019 A% © Organic performance at ~10% REVENUES 40.9 44.4 -8.0% » M&A contribution related to Attune acquisitio
Slide 13: Q1 2020 Financial results
QI 2020 Financial results P&L lines impacted by Covid-I9 emergence in March Data in €m Ql 2020 Ql 2019 A% Rec. (unless specified) Recurring Reported REVENUES 363.5 392.0 392.0 7.3% EBITDA! 64.9 78.9 775 17.8% Margin % 17.8% 20.1% 19.8% 2 ORDINARY D&A (40.7) (36.3) (36.3) 121% PPA-RELATED AMORTIZATIO
Slide 14: Q1 2020 Financial results: cash flow
QI 2020 Financial results Outstanding cash flow generation, with Operating and Free cash flow up +74% and +172% respectively, despite Covid-I9 emergence Data in €m Ql 2020! Ql 20197 A Operating cash flow before repayment of lease liabilities 80.8 54.5 26.3 Repayment of lease liabilities (20.1) (19.6
Slide 15: Q1 2020 Financial results: Net Debt/EBITDA
QI 2020 Financial results Net Debt/EBITDA at 1.99x Data in €m 31/03/2020 31/12/2019 Cash (272.l) (138.4) Short-term debt 223.9 172.4 Medium/long-term debt 838.9 752.6 Net financial debt 790.7 786.7 Lease liabilities 428.1 424.6 Total financial debt & lease liabilities 1,218.8 1,211.3 Total net equit
Slide 16: 2020 Outlook
2020 Outlook = Great uncertainty still remains on the length and depth of this unprecedent health, social and economic crisis related to Covid-l9 as well as on the speed of normalization, thereafter, making not yet possible today to assess the potential impact for the current year = Given this ongoi
Slide 17: Investor Relations Contacts
Investor Relations Contacts FRANCESCA RAMBAUDI AMANDA HART GIRALDI OLGA LEPECHKINA Director Specialist Assistant Tel: +39 02 5747 2261 Tel: +39 02 5747 2317 Tel: +39 02 5747 2542 iK ri i Mi amanda.giraldi@amplifon.com olga.lepechkina@amplifon.com amplifon