Slide 1: Q3 & 9M 2019 Results
Q3 & 9M 2019 Results Milan, October 30th, 2019 amplifon
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 2019 Key takeaways
Q3 & 9M 2019 Key takeaways Continued outstanding profitable growth, also fostered by Spain’s unrelenting excellent performance = Continued outstanding top-line growth (Q3 2019: +28.5% in LC; 9M 2019: +26.1% in LC) = Excellent organic growth, well above market and reaching all-time high in Q3 (+9.2%)
Slide 4: Update on Spain: successfully delivering on GAES integration
Update on Spain: successfully delivering on GAES integration 2019 plans and synergies fully on track JS Q3: Key integration activities Legal merger of GAES into Amplifon Iberica as of July FF Rebranding and shop visual identity alignment of the entire network completed in just 3 months (700+ stores)
Slide 5: Q3 2019 Financial highlights
Q3 2019 Financial highlights A truly outstanding quarter: all-time high organic growth and profitability expansion, supported by continued excellent performance of Spain = Another quarter of excellent top-line growth of +28.5% in LC Q3 2019 Q3 2018 A% Data in €m W/IFRSI6 w/o IFRSI6 w/o IFRSI6 * Outs
Slide 6: 9M 2019 Financial highlights
9M 2019 Financial highlights Strong momentum continues 9M 2019 9M 2018 A% Data in €m W/IFRSI6 ~— w/o IFRSI6 w/o IFRSI6 REVENUES 1,224.7 1,224.7 962.8 427.2% Organic growth +6.2% Acquisitions 419.9% FX +11% EBITDA Rec. 262.6 194.6 150.6 +29.3% Margin % 21.4% 15.9% 15.6% Outstanding top-line growth of
Slide 7: Financial results by Region
Financial results by Region EMEA: outstanding performance boosted by double-digit organic growth in Q3 and by the excellent results of Spain = Outstanding revenue growth of over +32% in LC 9M 2019 9M 2018 A% « Excellent organic growth at +7.3% (excluding GAES), _—_ 27088 ; 7 Data in €m W/IFRSI6 w/o
Slide 8: Financial results by Region
Financial results by Region AMERICAS: robust top-line growth and strong profitability expansion 9M 2019 9M 2018 A% Data in €m w/IFRSI6 — w/o IFRSI6 w/o IFRSI6 REVENUES 203.4 203.4 168.0 +21.0% Organic growth +2.9% Acquisitions +12.0% FX +6.1% EBITDA Rec. 44.8 Al6 sis +28.8% Margin % 22.0% 20.4% 19.2
Slide 9: Financial results by Region
Financial results by Region APAC: solid and improving performance since beginning of the year 9M 2019 9M 2018 A% Data in €m w/IFRSI6 — w/o IFRSI6 w/o IFRSI6 REVENUES 140.2 140.2 131.6 46.6% Organic growth +4.0% Acquisitions 43.5% FX -0.9% EBITDA Rec. ALT SAO 34.9 -2.9% Margin % 29.7% 24.2% 26.6% Q3
Slide 10: Q3 2019 Financial results
Q3 2019 Financial results Very strong improvement in all recurring P&L lines, with Net Profit and EPS Adjusted up, respectively, ~+18% and ~+28%. As reported figures reflect one-off costs, anticipated vs. initial expectations, thanks to a faster integration process bata iném Q3 2019 w/IFRSI6 Q3 2019
Slide 11: 9M 2019 Financial results
9M 2019 Financial results Delivering excellent results in all P&L items; Net Profit ~+29% and EPS Adjusted ~+35% bata iném 9M 2019 w/IFRSI6 9M 2019 w/o IFRSI6 9M 2018 w/o IFRSI6 A% Rec. w/o (unless specified) Recurring Reported Recurring Reported Recurring Reported IFRSI6 REVENUES 1,224.7 1,224.7 1,
Slide 12: 9M 2019 Financial results
9M 2019 Financial results Strong cash flow generation: Operating Cash Flow recurring and Free Cash Flow recurring up, respectively, +47% and +52% vs 9M 2018 Data in €m 9M 2019! 9M 2018? A Operating cash flow before repayment of lease liabilities 187.0 93.0 94.0 Repayment of lease liabilities (59.6)
Slide 13: 9M 2019 Financial results
9M 2019 Financial results Net Debt/EBITDA further reducing to 2.20x Data in €m 30/09/2019 31/12/2018! Cash (125.2) (89.9) Short-term debt 178.3 53.1 Medium/long-term debt 803.7 877.7 Net financial debt 856.8 840.9 Lease liabilities 433.5 - Total financial debt & lease liabilities 1,290.2 840.9 Total
Slide 14: 2019 Outlook
2019 Outlook Fully on track for the fifth record year in a row * Entering Q4 with an excellent 9M behind * Overall positive market outlook * Positive and above market sales momentum expected to continue * Contribution from all Regions * Solid organic growth * Spain expected to continue performing st
Slide 15: 2019 Financial calendar
2019 Financial calendar Upcoming corporate events March 4*, 2020 FY 2019 Results Conference call & audio webcast at 3.00pm CET April 24th, 2020 Shareholder’s General Meeting to resolve upon, inter alia = Approval of Financial Statements as of December 31st, 2019 and Dividend distribution = Buy back
Slide 16: 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 re re i MH amanda.giraldi@amplifon.com paola.bezzi@amplifon.com olga.