Slide 1: GVS SPA
GVS SPA MARCH 2021 STRICTLY PRIVATE & CONFIDENTIAL
Slide 2: Disclaimer
DISCLAIMER The information contained in this presentation does not purport to be comprehensive and has not been independently verified by any independent third party. This presentation does not constitute a recommendation regarding the securities of the Company. This presentation does not contain an
Slide 3: Agenda
Agenda 1 FY 2020 Outlook 2 Company Presentation Appendix: Additional Materials This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 4: YTD Dec 2020 GVS Performance Highlights
YTD Dec 2020 GVS Performance Highlights Sales: 59,8% of growth on the previous year • Q4 confirmed the strong turnover trend after the full impact of the actions put in place to face the business acceleration due to the Covid 19 started in Q2. • FY2020 with a final closing in terms of turnover on 36
Slide 5: 2020 Evolution of Sales
2020 EVOLUTION OF SALES TOTAL SALES YTD Dec 2020: 363,3 M€ +59,8% YoY All the three GVS Divisions performed better than the original guidance. Health & Safety grew in terms of relative wheight on the total business as well as the Healthcare & Lifesciences. YTD Dec 2020 -6% Q4 on Q3 This document and
Slide 6: Key Financial Highlights — EBITDA and EBIT
Key Financial Highlights — EBITDA and EBIT ADJUSTED EBITDA1 (€M) KEY COMMENTS Adjusted EBITDA: % on Sales • FY2020 adjusted EBITDA increased 131% vs the FY2019. • Adjusted EBITDA reduced 18% in Q4 compared with Q3 due to the year end closing policies. ADJUSTED EBIT2 (€M) Adjusted EBIT: % on Sales •
Slide 7: Key Financial Highlights — Net Income, Fin. Exp. & Taxes
Key Financial Highlights — Net Income, Fin. Exp. & Taxes NET FINANCIAL EXPENSES EXCL. FX GAINS/LOSSES (€M) TAXES (€M) % on Sales % EBT ADJUSTED GROUP NET INCOME1 (€M) KEY COMMENTS % on Sales • Net Financial expenses is reducing in 2020 as a result of the NFP strong reduction. • Final effect of the F
Slide 8: Key Financial Highlights — CapEx, TWC and R&D
Key Financial Highlights — CapEx, TWC and R&D CAPEX1 (€M) TRADE WORKING CAPITAL (€M) % on Sales % on Sales € 1.3 M inventory acquisition from 1) € 2.2 M due Graphic Controls Graphic Controls acquisition 2) € 7,1 M due to HC acquisition R&D2 (€M) KEY COMMENTS % on Sales • About 9,2 M€ as Capex relate
Slide 9: Key Financial Highlights — Net Financial Position
Key Financial Highlights — Net Financial Position NET FIN. INDEBTEDNESS (€M) AND CASH CONVERSION1 Cash conversion 69.4% 74.3% 78.9% 78.0% NFP / Adj EBITDA Ord. Net Cash in 70,9 Ext. Net Cash in 64 KEY COMMENTS NFP has decreased YTD Dec 2020 down to 31,6 M€, 135M€ less than year end 2019: • M&A and I
Slide 10: Visibility on FY 2021 Performance
VISIBILITY ON FY 2021 PERFORMANCE YTD Dec Results (€m) FY 2021 Guidance (€m) FY 2021 expected sales are in line with the level reached in 2020 even if with a rebalance in the main business divisions +52/63% on 2019 Actual YoY % prepandemic year +60% 345 - 370 363,3 227,4 +479% H&S H&S E&M -26% E&M +
Slide 11: Update on GVS Business: 2021 Focus
UPDATE ON GVS BUSINESS 1 Geographical Expansion new commercial officies in Asia 2 Market Expansion trought investment in commercial network 3 Launch of new Products for each Commercial Division GVS 4 Increase production capacity to support Healthcare Growth 2021 Focus 5 R&D investment in new membran
Slide 12: Agenda
Agenda 1 H1 and FY 2020 Outlook 2 Company Presentation Appendix: Additional Materials This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 13: Presentation
PRESENTATION FILTER TECHNOLOGY "ENERGY & aa 7 Soo"
Slide 14: Key People
Key People Massimo Mario Matteo Scagliarini Saccone Viola 36 years in GVS 25 years in GVS 12 years in GVS CEO CFO COO • MBA from Profingest Management • In GVS since 2008, started as • In GVS since 1985, started as Sales School, Bologna, Italy controller and currently serves as Manager and currently
Slide 15: GVS provides advanced filtration solution for critical applications
GVS provides advanced filtration solution for critical application in Highly-regulated end markets Our TECHNOLOGY supports LIFE and guarantees SAFETY in the most CRITICAL ENVIRONMENTS This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this d
Slide 16: GVS economic and production improvement over the last years
GVS economic and production improvement over the last 40 years 1979 1984 1989 1994 1999 2004 2009 2012 2015 2018 2019 2020 This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other t
Slide 17: The Head Office and manufacturing facilities are based in Italy
The Head Office and 3 manufacturing facilities are based in Italy This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 18: GVS has production facilities in several worldwide locations
GVS has 14 production facilities, in several worldwide locations. UK (1 plant) Romania Italy (1 plant) US (3 plants) (4 plants) China (2 plants) Puerto Rico Mexico (1 plant) (1 plant) Brazil (1 plant) Presence with production plants Commercial presence Indirect sales This document and all its conten
Slide 19: Core Competences
GVS evolved from a small healthcare components supplier into a global diversified filtration group Solutions Focus Biology Product CORE COMPETENCES Focus Chemistry Chemistry Process Focus Automation Automation Automation 1979 ’90-’00 2012 Today Origin in healthcare Development and international Main
Slide 20: M&A Transactions Since 2009
14 M&A TRANSACTIONS SINCE 2009 Adding capabilities and strengthening presence across China, the UK and North America Haemonetics Nypro M. BU Puerto Rico LLC Healthcare Filtration Graphic Nhion Nypro Germa Controls Sales licenses in Japan Medical Remploy Laboratory Filtration Filtration EPA Personal
Slide 21: Divisions and Products Line
Divisions and Products Line Healthcare & Life Sciences Health & Safety Energy & Mobility Healthcare & Liquid Personal Safety Powertrain & Drivetrain IV Vent Fuel pressure Flow Filters caps regulators Urea SCR filters Gasoline-diesel-urea Regulators Blood Transducer Disc filters PPE – Elipse fa
Slide 22: End Markets
Diversified blue-chip client base 2020A Revenues Division Breakdown1 (%) Illustrative example of companies requiring filtration solutions2 Healthcare Liquid and Healthcare 38% Healthcare Air & Life Sciences Laboratory 6% Personal Safety 37% End Markets Health & Safety Air Safety 2% Powertrain & Driv
Slide 23: Integrated and highly synergistic business model
GVS’s divisions differentiate for an integrated and highly synergistic business model Healthcare & Healthcare Energy & Life Sciences & Safety Mobility » Sales and Distribution » Similar stringent approval processes » Common Manufacturing processes and technologies » High quality standards required »
Slide 24: Strong focus on innovation and customer satisfaction
Our success is based on strong focus on innovation and customer satisfaction 7 ~8% 52 105 ~80 R&D centers with chemical and biological Of sales Patents for proprietary Highly skilled R&D External quality audits know-how in R&D products professionals p.a. International quality certificates Preferred
Slide 25: Quality Certification
Quality Certification GVS has obtained several Quality Certification, from several Certifiation Body • This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely
Slide 26: An ESG-compliant organization
An ESG-compliant organization ENVIRONMENTAL SOCIAL GOVERNANCE 1 2 3 • UNI EN ISO 14001 certification • Support of a range local charitable • Ethics Code for Environmental Management and non-profit organizations • Board of Statutory System (EMS) achieved by the • In recent years, in lieu of Christmas
Slide 27: Agenda
Agenda 1 H1 and FY 2020 Outlook 2 Company Overview Appendix: Additional Materials This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 28: Key Financial Highlights — Income Statement
Key Financial Highlights — Income Statement YTD 31/12 (€m) 2017A 2018A 2019A 2020A Healthcare & Life Sciences 94.9 101.5 115.1 159,0 Growth % 6.9% 13.5% Energy & Mobility 52.2 87.1 88.3 65,5 Growth % 66.7% 1.3% Health & Safety 17.7 20.3 24.0 138,8 Growth % 14.9% 18.2% Revenues from contracts with cu
Slide 29: Key Financial Highlights — Adjustments Overview
Key Financial Highlights — Adjustments Overview YTD 31/12 (€m) 2017A 2018A 2019A 2020A EBITDA 33.7 52.7 62.2 138,4 Capital gains from sale processes and leaseback -- -- (0.8) Start-up costs -- -- 0.5 Non recurring costs Write-off of tax receivables -- -- 0.1 (income) Personnel reorganization costs 0
Slide 30: Key Financial Highlights — Balance Sheet
Key Financial Highlights — Balance Sheet YTD 31/12 (€m) 2017A 2018A 2019A 2020A Property Plant & Equipment 53.1 50.1 46.6 91,0 Intangible Assets 100.8 100.9 99.8 77,4 Right of use 5.5 5.9 10.3 Financial Fixed Assets 3.1 0.7 0.5 0,9 Net Fixed Assets 162.5 157.6 157.3 169,2 Inventories 30.1 33.0 31.5
Slide 31: Key Financial Highlights — Cash Flow Statement
Key Financial Highlights — Cash Flow Statement YTD 31/12 (€m) 2017A 2018A 2019A 2020A Adjusted EBITDA 37.8 52.9 62.3 144,1 Taxes (2.3) (9.2) (10.6) (27,8) Δ Net Working Capital (14.8) 1.6 2.9 (2,3) Net Capex (incl. Financial assets) (99.1) (13.5) (16.3) (41,9) Operating Cash Flow (78.4) 31.7 38.3 72
Slide 32: Basis of preparation of financials
Basis of preparation of financials • Financial Overview slides present consolidated and division financial information of GVS S.p.A. and its reporting units • The financial information has been prepared in accordance to IFRS • Due to rounding, numbers expressed in millions throughout this section ma