Slide 1: Q1 2017 Results
Q1 2017 Results Milan | April 27th, 2017
Slide 2: Disclaimer
Disclaimer The information contained herein and other material discussed during the conference call, 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 uncertaintie
Slide 3: Q1 2017 Key takeaways
Q1 2017 Key takeaways Excellent start to the year Sales growth at full speed (+14.6% at constant FX), with very healthy mix 13th consecutive quarter of strong organic growth (+9.1%) Increasing contribution from M&A (+5.5%) Balanced growth across Regions Challenging comparable basis Outpa
Slide 4: Financial highlights
Q1 2017 Financial highlights Strong momentum across the board Acceleration in sales with mid-teens growth Data in €m Q1 2017 Q1 2016 Δ% Contribution from all three Regions REVENUES 296.1 254.5 +16.3% Excellent organic growth further boosted by M&A Organic growth +9.1% Strong Q1 2016 comparab
Slide 5: Revenue roadmap by Region
Revenue roadmap by Region Accelerating sales growth across Regions Q1 2017: +14.6%1 Organic growth2: +9.1% Acquisitions: +5.5% FX: +1.7% AMERICAS EMEA APAC 19.5% of Q1 2017 Revenues 65.9% of Q1 2017 Revenues 14.5% of Q1 2017 Revenues Q1 2017: +11.2% in LC QoQ Q1 2017: +15.8% in LC QoQ Q1 2017: +13.9
Slide 6: Financial results by Region: EMEA
Financial results by Region EMEA: continued strong momentum in the Group’s largest market Outstanding top-line growth (+15.8% in LC), well above Data in €m Q1 2017 Q1 2016 Δ% market REVENUES 195.2 169.9 +14.9% Excellent organic growth further boosted by accelerated M&A Organic growth +8.7% Str
Slide 7: Financial results by Region: Americas
Financial results by Region AMERICAS: back to accelerated sales growth Strong performance in the US Data in €m Q1 2017 Q1 2016 Δ% Market growth at +4%1 in units in Q1 2017 REVENUES 57.7 50.0 +15.5% Solid performance of Miracle-Ear Organic growth +8.2% − Successful marketing strategy and solid
Slide 8: Financial results by Region: APAC
Financial results by Region APAC: another quarter of excellent leveraged sales growth Stellar revenue growth of 13.9% in LC Data in €m Q1 2017 Q1 2016 Δ% Double-digit organic growth (+12.1% in LC) REVENUES 42.8 34.4 +24.4% Currency tailwind Organic growth +12.1% Solid performance in Australi
Slide 9: Financial results
Q1 2017 Financial results Continuously delivering strong results, net profit also benefiting from lower tax rate Data in €m Δ% (unless specified) Q1 20171 Q1 20161 REVENUES 296.1 254.5 +16.3% EBITDA 40.9 34.0 +20.2% Margin % 13.8% 13.4% - EBIT 26.0 21.4 +21.7% Margin % 8.8% 8.4% - PROFIT BEFORE TAX
Slide 10: Financial results: cash flow
Q1 2017 Financial results Solid operating cash flow, higher cash-out for acquisitions Data in €m Q1 2017 Q1 2016 Operating cash flow (a) 14.9 7.3 Capex (b) (13.2) (7.8) Disposals (b) 0.4 0.1 Free cash flow (a+b) 2.1 (0.3) Acquisitions (c) (50.3) (5.5) Other acquisitions/disposals (d) (0.0) 0.0 Cash
Slide 11: Financial results: capital structure
Q1 2017 Financial results Solid capital structure to sustain future growth opportunities Data in €m 31/03/2017 31/12/2016 31/03/2016 Cash (133.0) (183.8) (189.0) Short-term debt 31.7 28.7 20.0 Medium/long-term debt 380.3 379.6 382.1 Net debt 279.0 224.4 213.1 Equity 579.7 557.7 503.4 Net debt/EBITDA
Slide 12: 2017 Outlook
2017 Outlook Entering 2017 with sound optimism Overall positive market outlook Drivers: increasing volumes with stable ASP Positive sales momentum, above market reference Contribution from all Regions Solid organic growth Accelerated growth from acquisitions Profitability expansion O
Slide 13: Investor Relations Contacts
Investor Relations Contacts FRANCESCA RAMBAUDI AMANDA HART GIRALDI OLGA LEPECHKINA Director Analyst Assistant Ph: +39 02 5747 2261 Ph: +39 02 5747 2317 Ph: +39 02 5747 2542 francesca.rambaudi@amplifon.com amanda.giraldi@amplifon.com olga.lepechkina@amplifon.com Amplifon S.p.A. Via G. Ripamonti 133,