Gpi Spa · MIL:GPI
Gpi Spa — H1 2026 Earnings Presentation
22 slides from Gpi Spa's earnings presentation, September 2026
Slide 1: H1 2026 Interim Results
H1 2026 Interim Results Innovation for Sustainable Healthcare
Slide 2: Agenda
Agenda 1 GPI GROUP OVERVIEW Andrea Di Santo – Chief Executive Officer 2 H1 2026 RESULTS Matteo Santoro – General Manager 3 Q&A
Slide 3: Agenda
Agenda 1 GPI GROUP OVERVIEW Andrea Di Santo – Chief Executive Officer 2 H1 2026 RESULTS Matteo Santoro – General Manager 3 Q&A
Slide 4: Investment highlights: years of healthcare software & technology expertise
Investment highlights: 38 years of healthcare software & technology expertise H1 2026 Software-led growth combining deep healthcare expertise with long-term customer relationships. Software already represents 63% of Group revenue and c.91% of EBITDA. Revenue €256.4m A loyal customer base Software €1
Slide 5: A software-led healthcare technology company, powered by AI
A software-led healthcare technology company, powered by AI SOLUTIONS PRODUCTS STRATEGIC Software Software DIVERSIFICATION Bespoke project-oriented Global product-led Ecosystem services and software software enabling technologies HIS BLOOD CARE & TELEMONITORING EMR - Electronic Medical Record, etc.
Slide 6: Gpi4AI: Pioneering Ethical AI in Healthcare
Gpi4AI Pioneering Ethical AI in Healthcare Empowering sustainable healthcare through governed, sovereign, and certified Artificial Intelligence. Clinical Empowerment Healthcare Specialized Adding tangible value to our healthcare solutions. Deploying fully governed AI systems trained and fine- Enhanc
Slide 7: High-margin product scalability drives international sales
High-margin product scalability drives international sales Navigating international data regulations & enabling interoperability Client Breakdown Public 72% Private 17% ◼ Hospitals ◼ Nursing homes ◼ Healthcare Authorities ◼ Private clinics HEALTH ◼ Pharmacies ◼ Public providers ◼ Regions, Local enti
Slide 8: Agenda
Agenda 1 GPI GROUP OVERVIEW Andrea Di Santo – Chief Executive Officer 2 H1 2026 RESULTS Matteo Santoro – General Manager 3 Q&A
Slide 9: H1 2026 | Performance highlights
H1 2026 | Performance highlights Sustained international growth. 1 SOFTWARE Mix continues to improve. Overseas contracts and revenue 2 INTERNATIONAL demonstrate product scalability. EBITDA growth and margin progression 3 PROFITABILITY validate operating model. M&A integration, cross-selling, and 4 E
Slide 10: H1 2026 | Economic results
H1 2026 | Economic results €M H1 26 H1 25 REVENUE Restated €256.4 M -1.1% Solid underlying momentum: Growth in Software (+3.3%) and Revenue & Other Income 256.4 259.4 Automation & ICT (+8.5%) offset Care's temporary contract ramp-up gap (-12.4%). EBITDA 50.9 47.0 EBITDA EBITDA margin % 19.9% 18.1% €
Slide 11: H1 2026 | Software performance
H1 2026 | Software performance Software mix, growth and margin demonstrate progress towards the 2025–2029 plan. REVENUE EBITDA MARGIN INTERNATIONAL REVENUE €162.7m 28.2% 37% H1 YoY +3.3% H1 YoY + 110 bps H1 YoY +2% SOFTWARE SOLUTIONS 69% of SW Revenue (75% in H1 25) MIX by GEOGRAPHY Treating HIS Man
Slide 12: H1 2026 | Strategic diversification: enabling the healthcare ecosystem
H1 2026 | Strategic diversification: enabling the healthcare ecosystem Care, Automation, ICT are ecosystem businesses that strengthen the customer relationship and create additional routes to software adoption and cross-selling. Revenue Strong commercial performance, with volumes reaching €23.5m and
Slide 13: H1 2026 | Financials
H1 2026 | Financials €M H1 26 FY 25 FIXED ASSETS Restated Fixed assets down €3.2m vs 2025: Driven by €23.4m of capex, offset by €27.3m in amortisation. Fixes Assets 489.8 493.0 NET WORKING CAPITAL Net Working Capital 329.9 287.4 NWC +€42.5m vs 2025: Driven by strong output and higher contract assets
Slide 14: H1 2026 | Net Debt Bridge
H1 2026 | Net Debt Bridge Approved dividends, paid in July 2026 11.0 0.5 425.8 17.3 396.4 (50.9) 17.5 5.9 27.5 1.7 €27.5m NWC change, represents a normal working-capital dynamic supporting business growth. Change mainly driven by Contract assets/liab., expected to convert into cash in H2. Trade rece
Slide 15: Agenda
Agenda 1 GPI GROUP OVERVIEW Andrea Di Santo – Chief Executive Officer 2 H1 2026 RESULTS Matteo Santoro – General Manager 3 Q&A
Slide 16: Why GPI can win
Why GPI can win Mission-critical Software-led Know-how International software Software already Healthcare know-how, Execution against the Software embedded in represents the majority reference cases and 2025–2029 plan can healthcare workflows of Group economics, its product breadth create translate
Slide 17: Appendix: Financial Statements
Appendix Financial Statements H1 2026
Slide 18: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION, 31 December 30 June 2026 in EUR thousands 2025 Assets Goodwill 209,297 209,070 Other intangible assets 195,777 199,208 Property, plant and equipment 68,345 69,030 Equity-accounted investments 207 405 Non-current financial assets 16,158 15,229 Deferred ta
Slide 19: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT H1 2026 H1 2025 restated* in EUR thousands Revenue 248,712 253,160 Other income 7,733 6,240 Total revenue and other income 256,445 259,400 Costs for materials (12,968) (11,465) Service costs (54,185) (64,140) Personnel costs (133,194) (131,983) Amortisation, depreciatio
Slide 20: Consolidated Statement of Cash Flows
CONSOLIDATED STATEMENT OF CASH FLOWS, H1 2026 H1 2025 in EUR thousands restated* Cash flows from operating activities Profit/Loss for the period 3,199 3,384 Adjustments for: - Depreciation of property, plant and equipment 6,599 5,829 - Amortisation of intangible assets 20,723 20,174 - Amortisation o
Slide 21: 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 22: IR Contacts details
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