Slide 1: Amplifon Q1 2015 Financial Results
Amplifon Q1 2015 Financial Results Milan, April 29th, 2015
Slide 2: Disclaimer
Disclaimer ̶ The information contained herein and other material discussed during the analysts’ presentation, particularly the ones regarding any possible or assumed future performance of the Amplifon Group, are or may be forward looking statements and in this respect they involve some risks and unc
Slide 3: Strong start to the year & FX tailwinds boost profitability
Strong start to the year & FX tailwinds boost profitability ̶ Q1-2015 Group revenue up 22.8% y-o-y (OG +12.0%, Acq. +3.9%, FX 6.9%) ̶ Robust growth rates in core European markets and in the EMEA region, up 18.5% y-o-y (OG +11.0%, Acq. +5.6%, FX +1.9%) ̶ Acceleration of sales growth in AMERICAS up 40
Slide 4: Solid balance sheet & cash flow continue to sustain our growth strategy
Solid balance sheet & cash flow continue to sustain our growth strategy ̶ Ongoing footprint expansion: ̶ Over 40 new corporate shops & SIS opened/acquired in Q1/15 of which: ̶ 17 corporate shops acquired in Germany ̶ 2 corporate shops and 2 SIS acquired in France ̶ 1 corporate shop and 3 SIS opened
Slide 5: Q1-2015 Financial Results: strong sales growth & profitability improvement
Q1-2015 Financial Results: strong sales growth & profitability improvement SALES by Region € millions Q1 2015 Q1 2014 ∆% REVENUE 231.3 100.0% 188.3 100.0% 22.8% APAC 14,5% EBITDA 30.3 13.1% 18.6 9.9% 62.6% EBIT 17.7 7.6% 7.9 4.2% 123.5% PBT 8.2 3.5% 2.2 1.2% 264.9% AMERICAS 20,0% Group Net Income 3.
Slide 6: Global leader outperforming the steady growth of the hearing solutions market
Global leader outperforming the steady growth of the hearing solutions market EMEA Europe: +13.6% YoY at constant FX ME & A: +315.2% YoY at constant FX Americas APAC +16.1% in LC YoY +13.0% in LC YoY Hearing aid users growing steadily, but represent only ca. 20% of hearing impaired Amplifon 6 Amplif
Slide 7: EMEA: robust organic growth supports ongoing margin recovery
EMEA: robust organic growth supports ongoing margin recovery € millions Q1 2015 Q1 2014 ∆% REVENUE 151.6 100.0% 127.9 100.0% 18.5% EBITDA 12.2 8.1% 6.0 4.7% 103.2% EBIT 3.6 2.4% -1.2 -0.9% 409.2% ̶ Sales momentum remains strong across the entire EMEA region up 18.5% y-o-y (OG +11.0%, Acq. +5.6%, FX
Slide 8: AMERICAS: sales growth acceleration favorably exposed to FX
AMERICAS: sales growth acceleration favorably exposed to FX € millions Q1 2015 Q1 2014 ∆% $ millions Q1 2015 Q1 2014 ∆% REVENUE 46.3 100.0% 33.0 100.0% 40.5% REVENUE 52.2 100.0% 45.2 100.0% 15.5% EBITDA 8.7 18.8% 6.2 18.7% 41.4% EBITDA 9.8 18.8% 8.4 18.7% 16.3% EBIT 7.6 16.4% 5.2 15.8% 45.3% EBIT 8.
Slide 9: APAC: significant margin expansion driven by strong and profitable growth
APAC: significant margin expansion driven by strong and profitable growth € millions Q1 2015 Q1 2014 ∆% AUD$ millions Q1 2015 Q1 2014 ∆% REVENUE 33.5 100.0% 27.4 100.0% 21.9% REVENUE 47.9 100.0% 41.9 100.0% 14.3% EBITDA 9.4 28.1% 6.5 23.6% 45.0% EBITDA 13.6 28.4% 10.0 23.9% 35.4% EBIT 6.5 19.4% 3.9
Slide 10: Solid capital structure sustains steady profitable growth
Solid capital structure sustains steady profitable growth Net debt to Equity Net Debt € millions € millions 388,4 260,9 260,9 ̶ Planned for May 2015 the 80,5 prepayment of the €55.2 mln Net Debt USPP tranche (consequently Total Equity 477,9 reclassified in Short-term -208,0 debt) Cash Short-term Lon
Slide 11: Strong operational cash flow & renewed focus on external growth
Strong operational cash flow & renewed focus on external growth € thousands Q1 2015 Q1 2014 EBIT 17,688 7,913 D&A 12,627 10,734 Other non cash adjustments and gains/losses on sale 3,647 3,762 1. Higher interests payment due to the €4.2 mln make Net financials 1 (9,481) (5,064) whole for the pre-paym
Slide 12: Annexes
Annexes
Slide 13: Q1-2015 Amplifon Revenue Breakdown
Q1-2015 Amplifon Revenue Breakdown Amplifon Revenue Breakdown € millions Q1 2015 Q1 2014 ∆% ∆ FX OG% Italy 51.3 22.2% 43.7 23.2% 17.4% 14.9% France 27.7 12.0% 24.1 12.8% 14.8% 8.3% The Netherlands 15.3 6.6% 13.4 7.1% 14.1% 14.1% Germany 14.0 6.0% 12.9 6.8% 8.4% 1.3% UK & Ireland 10.6 4.6% 9.1 4.8% 1
Slide 14: Q1-2015 Income Statement
Q1-2015 Income Statement € millions Q1 2015 Q1 2014 ∆% REVENUE 231.3 100.0% 188.3 100.0% 22.8% 1. Higher depreciation due to ongoing Operating costs (202.3) -87.4% (169.9) -90.2% 19.1% investments on network expansion and Other operating revenue/costs 1.3 0.5% 0.2 0.1% 688.8% IT. EBITDA 30.3 13.1% 1
Slide 15: Balance Sheet: perimeter growth and favorable currency evolution
Balance Sheet: perimeter growth and favorable currency evolution € thousands 31/03/2015 31/12/2014 31/03/2014 € thousands 31/03/2015 31/12/2014 31/03/2014 Trade payables -101,686 -101,788 -90,301 Goodwill 564,333 534,822 512,298 Other payables -124,457 -124,418 -108,708 Cust. lists, non-compet. agre
Slide 16: Investor relations contacts
Investor relations contacts Investor Relations Office Investor Relations Team Amplifon Emilia Trudu Via G. Ripamonti, 133 Investor Relations Director 20141 Milano (MI) Phone: +39 02 5747 2454 Italy Fax: +39 02 5740 9427 Phone: +39 02 5747 21 emilia.trudu@amplifon.com Fax: +39 02 5730 0033 Amanda Har