Amplifon Spa · MIL:AMP
Amplifon Spa — Q3 2018 Earnings Presentation
17 slides from Amplifon Spa's earnings presentation, Oct 30, 2018
Slide 1: Q3 & 9M 2018 Results
Q3 & 9M 2018 Results Milan | October 30th, 2018
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: Q3 & 9M 2018 Key takeaways
Q3 & 9M 2018 Key takeaways Continuing sustained double-digit profitable growth ▪ Continued double-digit top-line growth (Q3 2018: +10.9% in LC; 9M 2018: +10.4% in LC) ▪ Very strong organic growth, outperforming the market ▪ Robust contribution from M&A ▪ Challenging comparable basis (+7.0% in Q3 201
Slide 4: Q3 2018 Financial highlights
Q3 2018 Financial highlights Double-digit top-line growth and continued profitability expansion ▪ Another quarter of strong double-digit top-line growth in LC Q3 2018 Q3 2017 Δ% (+10.9%) Data in €m @’18 IFRS @’17 IFRS @’17 IFRS ▪ Outstanding organic growth at +7.8% REVENUES 303.2 304.8 278.0 +9.7% ▪
Slide 5: 9M 2018 Financial highlights
9M 2018 Financial highlights Solid execution leading to strong results ▪ Strong top-line growth of +10.4% in LC 9M 2018 9M 2017 Δ% Data in €m @’18 IFRS @’17 IFRS @’17 IFRS ▪ Excellent organic growth as well as M&A contribution REVENUES 962.8 967.6 901.8 +7.3% ▪ Currency headwind for both USD/EUR and
Slide 6: Revenue roadmap by Region
Revenue roadmap by Region Sales growth accelerating across geographies 9M 2018: +10.4% in LC Organic growth1: +6.9% Acquisitions: +3.5% FX: -3.1% Q3 2018: +10.9% in LC Organic growth1: +7.8% Acquisitions: +3.1% FX: -1.2% AMERICAS EMEA APAC 17.5% of 9M 2018 Revenues 68.7% of 9M 2018 Revenues 13.6% of
Slide 7: Financial results by Region
Financial results by Region EMEA: rock solid execution delivering outstanding profitable growth ▪ Outstanding revenue growth of +12.4% in LC 9M 2018 9M 2017 Δ% ▪ Excellent organic growth at 7.3%, reaching +8.5% peak in Data in €m @’18 IFRS @’17 IFRS @’17 IFRS Q3 REVENUES 661.4 664.9 595.1 +11.7% ▪ S
Slide 8: Update on Amplifon Product Line & Eco-system roll-out
Update on Amplifon Product Line & Eco-system roll-out Highly successful roll-out in Italy ▪ Adoption rate of Amplifon product line at ~80% in the private and paid-up market ▪ Targeting to reach 90% by year-end ▪ APP penetration at 15% of customers1 ▪ Significant APP penetration also in customers age
Slide 9: Financial results by Region
Financial results by Region AMERICAS: solid sales momentum, consistently accelerating since beginning of the year 9M 2018 9M 2017 Δ% ▪ Robust revenue growth at +5.7% in LC, progressively Data in €m @’18 IFRS @’17 IFRS @’17 IFRS accelerating during the year REVENUES 168.0 169.4 171.6 -1.3% ▪ Strong o
Slide 10: Financial results by Region
Financial results by Region APAC: strong sales performance affected by FX headwind; profitability reflecting significant marketing investments and FX translative effect 9M 2018 9M 2017 Δ% ▪ Strong revenue growth of ~+7% in LC, all organic, affected by significant negative FX Data in €m @’18 IFRS @’1
Slide 11: Q3 2018 Financial results
Q3 2018 Financial results Delivering excellent results in all P&L items, Net Profit recurring +45% Δ% Rec. Data in €m Q3 2018 @’18 IFRS Q3 2018 @’17 IFRS Q3 2017 @’17 IFRS (unless specified) Recurring Reported Recurring Reported Recurring Reported REVENUES 303.2 303.2 304.8 304.8 278.0 278.0 +9.7% E
Slide 12: 9M 2018 Financial results
9M 2018 Financial results Continued improvement in all profitability lines Δ% Rec. Data in €m 9M 2018 @’18 IFRS 9M 2018 @’17 IFRS 9M 2017 @’17 IFRS (unless specified) Recurring Reported Recurring Reported Recurring Reported REVENUES 962.8 962.8 967.6 967.6 901.8 901.8 +7.3% EBITDA1 150.6 144.6 154.4
Slide 13: 9M 2018 Financial results
9M 2018 Financial results Strong cash flow generation to support Capex and M&A to foster Company’s growth Data in €m 9M 20181 9M 20172 Δ Operating cash flow (a) 93.0 76.8 16.2 Capex (net) (b) (42.2) (42.8) 0.6 Free cash flow (a+b) 50.8 34.0 16.8 Acquisitions (net) (c) (72.3)3 (83.0) 10.7 Cash provid
Slide 14: 9M 2018 Financial results
9M 2018 Financial results Solid capital structure to sustain future growth opportunities 30/09/2018 31/12/2017 Data in €m @’18 IFRS @’17 IFRS Cash (98.9) (98.9) (124.1) Short-term debt 146.5 146.5 301.2 Medium/long-term debt 301.0 301.0 119.2 Net debt 348.6 348.6 296.3 Equity1 560.9 615.7 588.4 Net
Slide 15: 2018 Outlook
2018 Outlook Fully on track for the fourth record year in a row ▪ Robust top-line growth, above market reference and with healthy mix ▪ Contribution from all Regions ▪ Solid organic growth ▪ Contribution from acquisitions ▪ Continued profitability expansion ▪ Scale reach in key markets and operation
Slide 16: 2019 Financial calendar
2019 Financial calendar Upcoming corporate events March 5th, 2019 FY 2018 Results Conference call & audio webcast at 3.00pm CET April 17th, 2019 Shareholder’s General Meeting to resolve upon, inter alia ▪ Approval of Financial Statements as of December 31st, 2018 and Dividend distribution ▪ Appointm
Slide 17: Investor Relations Contacts
Investor Relations Contacts FRANCESCA RAMBAUDI AMANDA HART GIRALDI PAOLA BEZZI OLGA LEPECHKINA Director Specialist Junior specialist Assistant Tel: +39 02 5747 2261 Tel: +39 02 5747 2317 Tel: +39 02 5747 2310 Tel: +39 02 5747 2542 francesca.rambaudi@amplifon.com amanda.giraldi@amplifon.com paola.bez