Slide 1: Q1 2019 Results
QI 2019 Results Milan, May 7*t*, 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: Q1 2019 Key takeaways
QI 2019 Key takeaways Excellent start to the year also fostered by the very strong first results from GAES integration = Outstanding top-line growth at over 25% in LC * Solid organic growth, above market * Extraordinary contribution from M&A * Consolidation of GAES as of January Ist, 2019 «Excellent
Slide 4: Financial highlights
QI 2019 Financial highlights Outstanding top-line growth and strong profitability expansion, also fostered by the excellent performance of GAES = Outstanding top-line growth of over 25% in LC Ql 2019 Ql 2018 A% Data in €m W/IFRSI6 w/o IFRSI6 w/o IFRSI6 = Solid organic growth at +3.9% (excluding GAES
Slide 5: Financial results by Region: EMEA
Financial results by Region EMEA: outstanding top-line growth and continued sustained profitability improvement, also boosted by the excellent performance of GAES = Outstanding revenue growth of over +31% in LC Ql 2019 Ql 2018 A% é WAFRSI6 w/o IFRSI6 Jo lFRSI6 = Solid organic growth at ~+4% (excludi
Slide 6: Focus on Spain: successfully delivering on GAES integration
Focus on Spain: successfully delivering on GAES integration 2019 plans and synergies fully on track S Ql key success factors New TV ADV "Only Logical" * Appointment of the new Leadership team to align culture and purpose across the two organizations "Improvement of advertising performance thanks to
Slide 7: Financial results by Region: Americas
Financial results by Region AMERICAS: strong top-line performance and profitability improvement = Strong revenue growth of around 14% in LC Ql 2019 Ql 2018 A% * Organic growth at over +3%, above market Data in €m w/IFRSI6 — w/o IFRSI6 w/o IFRSI6 - US private market growing at ~+.5% REVENUES 63. 63.
Slide 8: Financial results by Region: APAC
Financial results by Region APAC: back to robust organic growth and sequential profitability improvement = Strong revenue growth of +8.6% in LC, significantly above Ql 2019 Ql 2018 A% _ market Data in €m w/IFRSI6 — w/o IFRSI6 w/o IFRSI6 + Robust organic growth at 5% WevENUES panes panes Alls) US: »
Slide 9: Financial results
QI 2019 Financial results Sharp operating leverage leading to a strong increase in Net Profit Recurring of ~+37% and EPS Adjusted by ~+42% dota in €m QI 2019 w/IFRSI6 QI 2019 w/o IFRSI6 ai 2018 A% Rec. w/o (unless specified) Recurring Reported Recurring Reported IFRSI6 REVENUES 392.0 392.0 392.0 392
Slide 10: Financial results: cash flow and net debt
QI 2019 Financial results Excellent cash flow generation reducing Net Debt Data in ém al 2019! Ql 2018? A Operating cash flow before repayment of lease liabilities 54.5 19.0 35.5 Repayment of lease liabilities (19.6) - (19.6) Operating cash flow 34.8 19.0 15.9 Capex (net) (18.6) (10.6) (8.0) Free ca
Slide 11: Financial results: net debt and covenants
QI 2019 Financial results Net Debt reducing vs YE 2018 with Net Debt/EBITDA at 2.36x or below 3.0x according to previous covenant definition Data in €m 31/03/2019 31/12/2018! Cash (91.8) (89.9) Short-term debt 116.3 53.1 Medium/long-term debt 813.5 877.7 Net financial debt 838.0 840.9 Lease liabilit
Slide 12: 2019 Outlook
2019 Outlook Entering 2019 with sound optimism * Overall positive market outlook * Drivers: increasing volumes with stable ASP = Positive sales momentum, above market reference * Contribution from all Regions * Solid organic growth = _GAES expected to continue performing well * Contribution from bol
Slide 13: 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.