Gpi Spa · MIL:GPI
Gpi Spa — FY2025 Earnings Presentation
28 slides from Gpi Spa's earnings presentation, May 2026
Slide 1: Innovation for Sustainable Healthcare - FY2025 Results
Innovation for Sustainable Healthcare FY2025 Results
Slide 2: Group Overview
Group Overview
Slide 3: Since 1988 We Have Driven Innovation in Digital Health
SINCE 1988 WE HAVE DRIVEN INNOVATION IN DIGITAL HEALTH Revenue 3 €546M SOFTWARE We deliver software solutions to hospitals, private clinics, nursing homes, EBITDA to enhance healthcare processes. €114M EBITDA margin GROWTH Strong long term top-line and marginality growth. 20.8% We outpaced industry
Slide 4: Mission, Vision, Values
MISSION, VISION, VALUES 4 VISION MISSION Developing innovative Enhancing quality of life by software and technologies leading healthcare’s digital to streamline healthcare transformation. interactions and optimize prevention, diagnosis, and treatment. VALUES ETHICS RESPONSIBILITY CARE FOR PEOPLE PAS
Slide 5: Empowering Healthcare: Solutions That Fit Every Scale
EMPOWERING HEALTHCARE: WE DELIVER SOLUTIONS THAT FIT EVERY SCALE 5 CORE SOLUTIONS VERTICAL PRODUCTS STRATEGIC Software Software DIVERSIFICATION HIS BLOOD CARE & TELEMONITORING EMR - Electronic Medical Record, & Substances Of Human Origin etc. ICT & CYBERDEFENCE DIAGNOSTICS TREATING & CARING AUTOMATI
Slide 6: Scaling Healthcare Across Borders
SCALING HEALTHCARE ACROSS BORDERS 6 Navigating international data regulations & enabling interoperability Revenue Breakdown (FY25, %) Main geographies Health Public 69% Health Private 19% Other countries ◼ Nursing homes ◼ Hospitals Offices ◼ Healthcare Authorities ◼ Private clinics UK Germany HQs ◼
Slide 7: Competitive Landscape and Market Trends
COMPETITIVE LANDSCAPE AND MARKET TRENDS 7 Italy Main Markets Market Size Expected CAGR 2024 2024-2030 (%) FRANCE Software > € 25 B 11 – 12% DACH USA ITALY Automation > € 3.5 B 9 – 11% ITALY Care ~ € 300 M 3%
Slide 8: FY2025 Results
FY2025 Results
Slide 9: FY2025 Highlights
FY2025 HIGHLIGHTS 9 1 Double-digit international growth, while maintaining leadership in the Italian market. 2 On track to deliver the 2025-2029 Strategic Business Plan. 3 Increased focus on the software business, delivering positive EBITDA impact. 4 Completed bolt-on acquisitions aligned with the s
Slide 10: FY2025 Economic Results
FY2025 ECONOMIC RESULTS 10 €M FY 25 FY 24 REVENUE: € 546.2 M +7.0% | o/w 5.8% Organic Restated Software-Led Growth Accelerates Scale • International markets driving strong expansion Revenue & Other Income 546.2 510.3 • Leadership position in Italy further strengthened EBITDA 113.5 104.7 EBITDA: € 11
Slide 11: Spotlight on the SBA Software
SPOTLIGHT ON THE SBA SOFTWARE 11 FY25 vs FY24 FY25 vs FY24 +38.7 M +11.9 M Our software solutions 36% +12.7% +13.1% streamline healthcare of Software’s +10.9% organic +10.5% organic operations, enhance care total revenues are generated abroad 343 quality, improve patient EBITDA margin outcomes and r
Slide 12: SBA Software: Product Area Break Down
SBA SOFTWARE: PRODUCT AREA BREAK DOWN 12 Patient-centric Hospital Information System (HIS) providing real-time access HIS 29.7% to health data. Social Care: central hub where healthcare providers, patients and caregivers Treating & can collaborate to manage complex medical conditions. 13.4% Caring T
Slide 13: Other SBAs FY2025
OTHER SBAs FY2025 13 Automation Care Robots for Pharmacy Warehouse Automation Optimizing workflows of the healthcare system - hospitals, retailers, wholesalers - BPO healthcare administrative services | Access to Care ICT The Care SBA has been a key enabler for market access and HW & SW maintenance
Slide 14: FY2025 Financials
FY2025 FINANCIALS 14 FIXED ASSETS €M FY 25 FY 24 Strategic Investments increase: Restated • Goodwill: Logiprem-F SAS: €19.4 M; Mondo EDP S.r.l.: €3.6 M; • New assets: Policura Hospital, Tylent. Fixed Assets 493.0 457.3 NET WORKING CAPITAL Net Working Capital 287.4 263.2 NWC increased by €24.2 M • Tr
Slide 15: FY2025 Net Debt Bridge
FY2025 NET DEBT BRIDGE 15 396.4 €M 30.7 0.4 15.9 336.5 50.0 (113.5) 9.9 30.9 35.5 Net Debt EBITDA M&A NWC & other Taxes Capex Dividends Net Other Net Debt 31/12/2024 non funded tang. / intang. financial 31/12/2025 assets/liab. interests
Slide 16: Recalling the 2025-2029 Strategic Business Plan
Recalling the 2025 -2029 Strategic Business Plan
Slide 17: Strategic Business Plan 2025-2029 Strategic Pillars
STRATEGIC BUSINESS PLAN 2025 - 2029 17 Software SBA: Consolidating our Italian leadership. Capture additional value from recent acquisitions(1) while scaling global vertical software products(2) (3) and expanding international presence. STRATEGIC PILLARS Enhancement of the organizational model, to i
Slide 18: We Are in Line with Our BP Targets
WE ARE IN LINE WITH OUR BP TARGETS 18 2027E 2029E Revenue > € 600 M > € 700 M o/w overseas % 25% - 27% 27% - 30% EBITDA margin > 22% > 25% CAPEX ca. 7-9% of revenue ROIC > 11% > 15% DEBT NFP/EBITDA < 2.7x < 2.5x
Slide 19: Next Steps
NEXT STEPS 19 ORGANIZATION PROCESSES INTEGRATION We are transforming our We are redesigning core We are accelerating governance model processes to increase integration and actively globally to support a more efficiency, standardization, capturing synergies across scalable and performance- and execut
Slide 20: Takeaways
Takeaways
Slide 21: Quicktake
QUICKTAKE 21 ROBUST EXPECTATIONS CONSISTENT ACCELERATING CLEAR AI LONG-TERM ALIGNED WITH ITALIAN INTERNATIONAL AND GROWTH BUSINESS PLAN LEADERSHIP BUSINESS INNOVATION DEVELOPMENT TRAJECTORY SOLID 2025 RESULTS
Slide 22: In the Stock Market
IN THE STOCK MARKET 22 Defensive Profile with Recurring Revenue SHAREHOLDER STRUCTURE VOTING RIGHTS FM (Manzana Family) 18.4% 22.3% CDP Equity Growth and Visibility 47.9% 10.5% ENPAIA 6.4% 56.9% Treasury Shares 14.5% 0.1% Unique Combination of Technology and Service 23.0% Market a Strategic Growing
Slide 23: Appendix: Financial Statements FY25
Appendix Financial Statements FY25
Slide 24: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL 31 December 2024 POSITION, 31 December 2025 Revised in EUR thousands Assets Goodwill 209,070 187,564 Other intangible assets 199,208 199,847 Property, plant and equipment 69,030 57,783 Equity-accounted investments 405 459 Non-current financial assets 15,229 11,066
Slide 25: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT, 2024 2025 in EUR thousands Revised Revenue 530,247 496,883 Other income 15,933 13,459 Total revenue and other income 546,180 510,342 Costs for materials (27,877) (25,878) Service costs (126,370) (121,632) Personnel costs (268,093) (250,155) Amortisation, depreciation a
Slide 26: Statement of Cash Flows
2024 STATEMENT OF CASH FLOWS, in EUR thousands 2025 Revised Cash flows from operating activities Profit/Loss for the period 15,210 103,191 Adjustments for: - Depreciation of property, plant and equipment 11,994 11,688 - Amortisation of intangible assets 43,681 41,493 - Amortisation of contract costs
Slide 27: Disclaimer
Disclaimer The material in this presentation was prepared by GPI S.p.A. ("GPI” or the “Company”) without any form Order; and (C) other persons to whom this presentation can be legally distributed and disclosed in of independent verification; it is general, basic information about the current busines
Slide 28: Innovation for Sustainable Healthcare - IR Contacts
Innovation for Sustainable Healthcare IR Contacts details Via Ragazzi del '99, 13 - 38123 Trento t. +39 0461 381515 investor.relations@gpi.it Fabrizio Redavid Lorenzo Giollo fabrizio.redavid@gpi.it lorenzo.giollo@gpi.it