Slide 1: FY 2023 Results Presentation
© esprinet’ enabling your tech experience FY 2023 Results Presentation March 13, 2024
Slide 2: Forward-looking statements disclaimer
This presentation may contain forward-looking statements that are subject to risks and uncertainties, including those pertaining to the anticipated benefits to be realized from the proposals described herein. Forward-looking statements may include, in particular, statements about future events, futu
Slide 3: FY 2023 Results
enabling your tech experience FY 2023 RESULTS
Slide 4: Key messages on a challenging year
• A challenging year for the • Growing in the higher-margin • We reduced inventory levels • The inventory levels can be • Recover volumes on segments Screens market and in general product and customer while improving gross profit reduced without major with lower margins but which for consumer demand
Slide 5: Full year sales at 3,985.2 M€ (-15% vs 2022)
Full year sales at 3,985.2 M€ (-15% compared to 2022) Q4 2023 sales at 1,240.2 M€ (-15% compared to Q4 2022) Esprinet Market(2) Italy 2,468 M€ -10% -4% Spain 1,368 M€ -22% -2% Portugal 107 M€ -15% -5% Esprinet Market Screens 2,128 M€ -22% -7% Solutions & Services 920 M€ +2% +7% Devices(3) 937 M€ -12
Slide 6: Full year gross profit, EBITDA adj. and cash
Full year Gross Profit at 220.9 M€ (-10% compared to 2022), 5.54% on sales, compared to 5.22% of 2022. Q4 Gross Profit at 66.7 M€ (-13% compared to Q4 2022), 5.38% on sales, compared to 5.21% of Q4 2022. Full year EBITDA Adj. at 64.1 M€ (-29% compared to 2022); 1.61% on sales (1.94% on sales in 2022
Slide 7: Sales and EBITDA adj. by pillar and segment
2,128.2 2,722.2 -594.1 -22% 19.2 30.9 -11.7 -38% 0.90% 1.14% -0.23% 896.1 1,003.5 -107.4 -11% 13.9 22.9 -9.0 -39% 1.55% 2.28% -0.73% 40.7 58.4 -17.7 -30% -3.8 -1.4 -2.4 >100% -9.34% -2.40% -6.94% 3,065.0 3,784.1 -719.2 -19% 29.3 52.4 -23.1 -44% 0.96% 1.38% -0.43% 907.0 882.8 24.2 3% 29.6 31.9 -2.3 -
Slide 8: Sales by segment (IFRS 15 note)
(*) Euro 920.2 million after the application of IFRS 15 in 2023 8
Slide 9: Income statement: gross profit, SG&A, EBITDA adj.
• The Group further improved its gross profit margin performance (M/€) 2023 2022 Var. % Q4 2023 Q4 2022 Var. % which stood at 5.54%, a progressive increase compared to 5.22% in the same period last year, despite the impact (25 bps) of the financial costs of programs for the assignment of receivables
Slide 10: Net invested capital and net working capital
• Net Invested Capital as of December 31, 2023 stands at 351.9 M€ and is covered by: (M/€) 31/12/2023 31/12/2022 30/09/2023 o Shareholders’ equity, including non-controlling interests for 367.4 M€ (409.2 M€ as of December 31, 2022); Fixed Assets 169.3 151.6 167.5 o Cash positive for 15.5 M€ (negativ
Slide 11: Working capital days (4-quarter average)
90 40 80 34 35 32 31 30 29 30 70 27 28 28 30 27 26 26 60 23 25 50 20 21 20 17 40 78 77 77 80 75 75 73 1269 70 68 70 66 1366 1368 1372 15 30 62 62 59 57 58 58 59 57 58 54 55 52 57 51 56 52 54 54 5355 49 48 48 47 47 8 9 49 428 45 44 46 44 50 53 10 20 3937 4039 4239 39 40 42 37 38 37 38 38 37 3837 3738
Slide 12: Working capital days (quarter-end)
100 50 90 44 42 41 40 39 40 80 33 36 33 31 30 70 29 29 29 25 60 20 15 50 16 16 14 12 89 85 85 10 40 82 81 77 76 73 72 72 73 68 70 68 69 61 65 2 66 61 66 3 30 58 59 60 60 59 57 56 55 57 0 54 52 53 54 52 51 -2 52 50 51 48 51 48 48 51 43 45 45 44 20 39 41 40 39 40 4041 40 39 41 4143 36 38 37 36 37 32 -
Slide 13: ROCE trend
30% 25% 25.1% 23.2% 20.5% 20% 19.7% 17.6% 15.7% 15.8% 16.2% 15.2% 15% 14.0% 12.9% 13.3% 11.4% 14.4% 13.1% 10.9% 11.0% 10% 9.4% 9.8% 11.6% 10.8% 9.6% 8.2% 8.1% 8.4% 8.6% 8.6% 10.2% 9.1% 8.0% 7.0% 8.3% 8.2% 7.3% 6.9% 7.9% 8.0% 7.6% 7.1% 6.7% 7.1% 05% 6.9% 6.3% 5.9% 00% 2018 Q1 2018 Q2 2018 Q3 2018 Q4
Slide 14: ESG initiatives: environment and human capital
To reduce our footprint on the environment • We completed the investment of the new photovoltaic system on the Italian logistics site of Cambiago • Aware of the impact of urban mobility in our territory, we strengthened the adoption of electric or plug-in company cars. • Furthermore, we launched the
Slide 15: 2024 Looking Forward
@ esprinet’ a enabling your tech experience Pi " \ 2024 LOOKING FORWARD
Slide 16: Macroeconomic and ICT market outlook for 2024
• Macroeconomic headwinds are still relevant but still we factor good chances of inflation to fall gradually thus opening up the path to interest rates reductions • sector analysts believe that the ICT market is now ready to return to growth, most likely with greater strength in the second half of t
Slide 17: Strategic pillars: diversification, excellence, ROCE, capital structure, ESG
GEOGRAPHICAL AND PURSUIT OF EXCELLENCE IN FOCUS ON ROCE SOLID CAPITAL STRUCTURE ATTENTION TO ESG ISSUES PRODUCT DIVERSIFICATION OPERATIONS To mitigate risks in a volatile, To be the point of reference Profitability improvement and Together with a consolidated Sustainability remains key as we unpredi
Slide 18: Q&A
enabling your tech experience Q&A
Slide 19: Financial calendar and investor events
EVENT DATE Euronext Milan STAR Conference, March 19, 2024 organized by Borsa Italiana Shareholders’ Meeting April 24, 2024 Approval of the Financial Statements 2023 and presentation of the Consolidated Financial Statements 2023 Board of Directors May 13, 2024 Approval of the Additional Financial Inf
Slide 20: Thank you
Thank you GRAZIE + GRACIAS - OBRIGADO« DANKE « MERCI « ZA} « iff! « RR © esprinet’ enabling your tech experience