Slide 1: Q1 2018 Results
Q1 2018 Results Milan | May 2nd, 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: Q1 2018 Key takeaways
Q1 2018 Key takeaways Strong start to the year ▪ Strong top-line growth at +9.7% in LC ▪ Solid organic growth, above market ▪ Robust contribution from M&A ▪ Very challenging comparable basis with the highest growth level reported in 2017 (+16.3% in Q1 2017 vs Q1 2016) ▪ Outpacing the global hearing
Slide 4: Financial highlights
Q1 2018 Financial highlights Strong top-line growth and continued profitability expansion ▪ Strong top-line growth of +9.7% in LC Q1 2018 Q1 2017 Δ% ▪ Very healthy organic growth at 5.4% Data in €m @’18 IFRS @’17 IFRS @’17 IFRS ▪ Robust M&A contribution REVENUES 309.4 310.3 296.1 +4.8% ▪ Significant
Slide 5: Revenue roadmap by Region
Revenue roadmap by Region Strong momentum continues Q1 2018: +9.7%1 Organic growth2: +5.4% Acquisitions: +4.3% FX: -4.9% AMERICAS EMEA APAC 16.7% of Q1 2018 Revenues 69.8% of Q1 2018 Revenues 13.3% of Q1 2018 Revenues Q1 2018: +3.6% in LC QoQ Q1 2018: +11.9% in LC QoQ Q1 2018: +7.6% in LC QoQ 1 In l
Slide 6: Financial results by Region: EMEA
Financial results by Region EMEA: outstanding top-line growth along with profitability expansion Q1 2018 Q1 2017 Δ% ▪ Outstanding revenue growth of +11.9% in LC Data in €m @’18 IFRS @’17 IFRS @’17 IFRS ▪ Strong organic growth REVENUES 215.7 216.6 195.2 +11.0% ▪ Significant contribution from M&A Orga
Slide 7: Financial results by Region: Americas
Financial results by Region AMERICAS: solid performance, impacted by adverse FX Q1 2018 Q1 2017 Δ% ▪ Positive top-line growth at +3.6% in LC, despite Data in €m @’18 IFRS @’17 IFRS @’17 IFRS exceptional adverse weather conditions in January REVENUES 51.8 51.9 57.7 -10.0% ▪ Challenging comparable bas
Slide 8: Financial results by Region: APAC
Financial results by Region APAC: excellent trading performance Q1 2018 Q1 2017 Δ% ▪ Strong revenue growth of 7.6% in LC Data in €m @’18 IFRS @’17 IFRS @’17 IFRS ▪ Extremely challenging comparison base (+24.4% in Q1 REVENUES 41.3 41.3 42.8 -3.7% 2017 vs Q1 2016) Organic growth +7.6% ▪ Substantial cu
Slide 9: Financial results
Q1 2018 Financial results Delivering excellent results in all P&L items Data in €m Q1 2018 Δ% Q1 2017 (unless specified) @’18 IFRS @’17 IFRS @’17 IFRS REVENUES 309.4 310.3 296.1 +4.8% EBITDA 43.2 44.0 40.9 +7.7% Margin % 14.0% 14.2% 13.8% - D&A (16.7) (16.7) (14.9) +12.2% EBIT 26.5 27.3 26.0 +5.1% M
Slide 10: Financial results: cash flow
Q1 2018 Financial results Strong operating cash flow to support Capex and M&A to foster Company’s growth Data in €m Q1 20181 Q1 2017 Δ Operating cash flow (a) 19.0 14.9 4.1 Capex (net) (b) (10.6) (12.8) 2.2 Free cash flow (a+b) 8.4 2.1 6.3 Acquisitions (net) (c) (25.0) (50.3) 25.3 Cash provided by (
Slide 11: Financial results: capital structure
Q1 2018 Financial results Solid capital structure to sustain future growth opportunities 31/03/2018 31/12/2017 Data in €m @’18 IFRS @’17 IFRS Cash (101.3) (101.3) (124.1) Short-term debt1 301.5 301.5 301.1 Medium/long-term debt 119.9 119.9 119.3 Net debt 320.1 320.1 296.3 Equity2 536.5 580.8 588.4 N
Slide 12: 2018 Outlook
2018 Outlook Entering 2018 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 ▪ Contribution from acquisitions ▪ Profitability expansion ▪ Operati
Slide 13: Launch of the new Amplifon Product Line and Multi-channel Ecosystem in Italy
Launch of the new Amplifon Product Line and Multi-channel Ecosystem in the Italian market Valencia, April 14th-16th >1,600 attendees 3-day convention, including training Q1 2018 Results I May 2nd, 2018 13
Slide 14: Investor Relations Contacts
Investor Relations Contacts FRANCESCA RAMBAUDI PAOLA BEZZI ELISA GUIDOTTI OLGA LEPECHKINA Director Junior specialist Stagiaire Assistant Tel: +39 02 5747 2261 Tel: +39 02 5747 2310 Tel: +39 02 5747 2414 Tel: +39 02 5747 2542 francesca.rambaudi@amplifon.com paola.bezzi@amplifon.com elisa.guidotti@amp