Gpi Spa · MIL:GPI
Gpi Spa — Investor Presentation (October 2021)
30 slides from Gpi Spa's investor presentation, October 2021
Slide 1: Investor Presentation October 2021
INVESTOR PRESENTATION OCTOBER 2021
Slide 2: Sustainability and the Health Care Market
Sustainability and the Health Care Market DIGITAL TRANSFORMATION Population ageing • Redesign processes • around 1/3 over 60 yo (Italy) • general trend • Prevention and control of NCDs Chronic diseases (NCDs1) befall the world at large • increasing prevalence of (multiple) chronic conditions • Integ
Slide 3: Your Global Partner for a Better Future
> 30 years of experience, management History of Your Global Partner Growth team with a track record of internal growth and M&As for a Better Future International footprint solutions used by 2,400 customers in more than 60 countries We develop software, technologies and services to help innovating th
Slide 4: A History of Steady Growth
a History of Steady Growth 2013 Orizzonte fund providing equity +29.6% financing - First minibond issued. Revenue €M 2016 merger between GPI and the SPAC CFP1. Joining the stock market AIM Italia. 151.8 2018 graduated from AIM to MTA HY 110.4 117.2 EBITDA €M * +35.2% 6,871 main market of Borsa Itali
Slide 5: Strategic Business Areas
Strategic Business Areas TECHNOLOGIES 51.1% Pay 3.3% Automation 4.4% ICT 5.5% Software 37.9% SERVICES 48.9% Care Notice: % revenue by SBA out of total revenue in FY 2020
Slide 6: Supply Lines
Supply Lines PJ • hospital information system • health social care • blood transfusion & tissue bank • health administration Software • Business Intelligence, data analytics main SBAs • other 86.8% of total revenue • BPO health care administrative svc. (AtC,..) • telemedicine Care • other • automate
Slide 7: Actual Projects
Actual Projects Real answers to Covid- 19: concretely implementing the Group’s vision Virtual Care Vaccination programme Drive-in Swabs Region Lombardia Region Valle d’Aosta Region Lazio Telemedicine Software, Artificial Intelligence, Software solutions and devices for wearables, technological and c
Slide 8: Highlights Main M&As
Highlights Main M&As 1H2021 FY2020 • Contracts awarded as at 30 June 2021 € 79 M • Oslo Italia (Business Intelligence Health Care SW, Big Data & Win ratio 48% Analytics) | € 4.3 M Rev. | 30% EBITDA • Contract awarded Region Lazio • Umana Medical Technologies, Malta start up - innovative Multichannel
Slide 9: Solid Growth H1 2021
Solid Growth H1 2021 Revenue +29.6% (22% organic) EBITDA +35.2% €M H1 2021 H1 2020 Revenue € 151.8 M thanks to the contribution of: Revenue & other income 151.8 117.2 • SW € 51.9 M +25.0% 8.2% Org. • Care € 80.3 M +31.7% 31.1% Org. Adjusted Revenue(1) 138.1 108.1 • Other € 19.6 M +33.7% 23.4% Org. E
Slide 10: Financial Highlights H1 2021
Financial Highlights H1 2021 A3.1 CERVED Rating confirmed A- S&P |A3 Moody’s | A-1 Fitch €M H1 2021 FY 2020 Restated Net working capital 126.2 109.1 Non-current assets 167.7 158.4 Other operating assets/(liabilities) (72.6) (59.2) NET INVESTED CAPITAL 221.6 208.2 Shareholders’ equity 73.5 83.4 Net F
Slide 11: Segmentation
Segmentation Revenue by EBITDA by Revenue by Revenue by Strategic Business Area Strategic Business Area Geographic area Client type* 6.4% 4.4% 12.9% 17.5% 10.3% 34.2% 6.9% 14.3% 68.3% 52.9% 82.3% 89.7% Software Care Other Software Care Other Italy Export H-Pub H-Pri NH-Pri NH-Pub *FY 2020 data - H-p
Slide 12: Software
Software Adj. Revenue €M Net of Temporary Joint Ventures (RTI) EBITDA €M Tenders win-ratio ** • 30% Δ +25.0% Revenues by Segment % on total SBA’s revenue 18.7% data as of 31/12/2020 Recurring fees 17.8% • 42% 41.1 51.5 7.3 9.7 H1 25.3% 2021 32.2% Average contract length • 1-3 years 7.4% 8.7% Average
Slide 13: Care
Care Adj. Revenue €M Net of Temporary Joint Ventures (RTI) EBITDA €M Tenders win-ratio ** • 37% Δ +31.7% Revenues by Segment % on total SBA’s revenue data as of 31/12/2020 Recurring fees 3.0% H1 3.2% • 81% 4.7% 1.3% 67.0 52.4 1.7 2.0 2021 Average contract length • 4-6 years % Δ +9,3% Average value o
Slide 14: Other SBAs
Other SBAs AUTOMATION Automated warehouse sales, Δ +33.7% 19.6 maintenance and service fees 14.7 5.3 Automation • Retail Pharmacies Δ +62.8% • Hospital Pharmacies 4.7 5.4 Pay • Wholesaler and other industries 12,6% 3.4 10.3% H1 6.5 8.8 ICT 2021 H1 2020 H1 2021 H1 2020 H1 2021 PAY ePayment services P
Slide 15: Competitive environment and strategic guidelines
Competitive environment and strategic guidelines
Slide 16: Market Assessment Software and IT Services
Market Assessment Software and IT Services Source: Gartner Hospital + Physician survey (2021 Q2) value of the Global market for health care software + IT services in 2020 $67.7 B +7.3% 2020 on 2019 CAGR 20 – 24: 12.3% 50.5% North America CAGR 20 – 24: 12.0% 24.8% Western Europe CAGR 20 – 24: 11.0% $
Slide 17: IT Market 2018 – 2024 (Italy)
IT Market 2018 – 2024 (Italy) Source:Netconsulting Cube (June 2021 Q2) - data in € M, % TOTAL € 1,346.3 M CAGR 20-24 6.8% SW + Svc . € 1,091.3 M CAGR 20-24 6.9% 17
Slide 18: Competitive Ranking
Competitive Ranking Top Players in Italy Software BPO AtC Focus on Company Brief description HC Ranking >>29 28MMcitizens cittadinireached serviti ICT solutions and related services for public and private healthcare providers. 1st Company Brief description Ranking ICT solutions, administrative and
Slide 19: International Growth +101%
International Growth +101% Footprint in 70 Countries Export 10.3% of total revenue (6.6% H1 2020) Offices in 11 Countries Blood Management System strategic software for the Health Systems of all Countries Gpi is globally ranking among Top 5 providers Pro-forma earnings > € 20 M
Slide 20: Strategic intentions 2020-2024: the pillars confirmed
Strategic intentions 2020-2024: the 5 pillars confirmed 01 02 03 04 05 EVER MORE PRIVATE HEALTH FROM FROM GLOBAL HEALTH CARE SW PRODUCTS/ PROVIDER CARE MARKET SERVICES TO TO PARTNER LEADERSHIP INTEGRATED in ITALY SOLUTIONS Doubling up of Major regional and Greater integration of Multi-business Stron
Slide 21: Economic–Financial Targets Update for 2024
Economic–Financial Targets Update for 2024 New targets estimated by equal scope of consolidation as of 31/12/2020 Previous Targets Updated Targets > € 295 M REVENUE > € 330 M CAGR 19-24 > 4% CAGR 20-24 > 5% >15.0% EBITDA MARGIN >16.5% ≤ 1xEBITDA NET DEBT ≤ 1xEBITDA
Slide 22: M&A Guidelines
M&A Guidelines
Slide 23: Historic M&A process
1988 cri established in October e Historic M&A process ACQUIRED Spid (16%) Selfin heath) INCREASED HOLDING IN Sysline (70%) ACQUIRED & CONSOLIDATED ACQUIRED Logicast (100%) GCS theath) Larca (100%) Axgentea (10%) Spid (78%) ACQUIRED ‘sysline (90%) Sysline(6s%) Hit (90%) ESTABLISHED. ESTABLISHED Self
Slide 24: M&A Guidelines: Become a Major European Player
M&A Guidelines Become a Major European Player TARGET • Product Portfolio • Structured software Evolution companies software|services| • Product Portfolio territories Evolution Blood Management System Software
Slide 25: M&A Guidelines: Funding Sources
M&A Guidelines FUNDING SOURCES • EXERCISED WARRANTS € 22.3 M • BOND • DEBT FINANCING
Slide 26: Investment Attractiveness
Investment Attractiveness Leadership and Uniqueness GPI IN THE STOCK MARKET ISIN: IT0005221517 Ticker: GPI:IM 18,260,496 Ordinary Shares Growth and Visibility Price: € 12.05 4 October 2021 Capitalisation: € 220 M Technology and Service ANALYSTS’ COVERAGE – Target price SHAREHOLDING STRUCTURE Midcap
Slide 27: IR Contact details
IR Contact details Via Ragazzi del '99, 13 - 38123 Trento T +39 0461 381515 investor.relations@gpi.it Fabrizio Redavid Lorenzo Giollo C. +39 335 1035499 C. +39 340 8223333 fabrizio.redavid@gpi.it lorenzo.giollo@gpi.it - Maggio 2018
Slide 28: Disclaimer
Disclaimer The material in this presentation was prepared by GPI S.p.A. ("GPI” or the “Company”) without any paragraph 2, letters a) to d) of the Order; and (C) other persons to whom this presentation can be form of independent verification; it is general, basic information about the current busines
Slide 29: «Vein-to-Vein» Process
«VEIN-TO-VEIN» PROCESS Blood Donor Centers Hospitals 37
Slide 30: Global Competitors
ranks 5th on the global market pro-forma revenue ca $ 26 M - 48% gross margin France USA USA USA GLOBAL Italy USA USA COMPETITORS Australia USA Germany USA China China China USA 38