Slide 1: FY24 Results Presentation
This content is classified as Internal FY24 Results Presentation February 28th, 2025
Slide 2: Disclaimer
This content is classified as Internal Disclaimer ▪ This Presentation may contain written and oral “forward-looking statements”, which includes all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-looking statements rely on
Slide 3: Key messages
This content is classified as Internal Key messages Continued delivery of growth and Shaping Nexi for Creating value for our Shareholders strong excess cash generation future profitable growth ▪ Revenues growing at +5.1% vs FY23, with ▪ Progressing integrated payments strategy ▪ Leverage ratio down
Slide 4: Accelerating cash generation by compounding growth, operating leverage and cash leverage
This content is classified as Internal Accelerating cash generation by compounding growth, operating leverage and cash leverage FY24 results Operating leverage Revenues +5.1% y/y Opex +7.1% y/y, EBITDA Excess cash progress +101 bps y/y margin expansion Capex 800+ 717 Cash leverage Non-recurring cash
Slide 5: Capital allocation: FY24 achievements
This content is classified as Internal Capital allocation: FY24 achievements FY23 Excess cash generation: 601 €M1 FY24 Excess cash generation: 717 €M (+19% y/y) Capital Debt and allocation Return to Shareholders M&A strategy leverage reduction ▪ Net debt/EBITDA down to 2.7x as of ▪ 500 €M share buy-
Slide 6: Capital allocation: plan for 2025 and guidance
This content is classified as Internal Capital allocation: plan for 2025 and guidance FY24 Excess cash generation: 717 €M (+19% y/y) FY25 Excess cash generation guidance: at least 800 €M Debt and Return to Shareholders M&A leverage reduction ▪ Commitment to maintain ▪ Going forward, we plan to retur
Slide 7: Focus on FY24 results
This content is classified as Internal Focus on FY24 results
Slide 8: Solid Revenue and EBITDA growth, with continued margin expansion
This content is classified as Internal Solid Revenue and EBITDA growth, with continued margin expansion Net Net Revenues Revenues (€M) (€M) EBITDA (€M) EBITDA margin 53% 54% 52% 53% + 153 bps + 101 bps +5.1% 3,514.0 3,344.2 +7.1% 1,863.2 1,739.5 +3.7% +6.7% 908.6 942.4 481.0 513.3 4Q23 4Q24 FY23 FY2
Slide 9: Merchant Solutions: continued growth supported by volumes, customer base growth and value enhancing initiatives
This content is classified as Internal Merchant Solutions: continued growth supported by volumes, customer base growth and value enhancing initiatives Net Revenues (€M) Managed Transactions (#M) Key Highlights International +12.8% ▪ Sustained volume growth across the 57%1 Schemes Group, driven by In
Slide 10: Issuing Solutions: continued growth supported by international schemes volumes
This content is classified as Internal Issuing Solutions: continued growth supported by international schemes volumes Net Revenues (€M) Managed Transactions (#M) Key Highlights 32%1 International Schemes +13.8% ▪ Continued y/y revenue growth thanks to number and value of transactions +8.3% growth (I
Slide 11: Digital Banking Solutions: continued FY revenue growth thanks to volumes and business development initiatives
This content is classified as Internal Digital Banking Solutions: continued FY revenue growth thanks to volumes and business development initiatives Net Revenues (€M) Key Highlights ▪ FY24 y/y revenue growth thanks to both revenue from existing services and 11%1 business development initiatives +1.6
Slide 12: Continued revenue growth across geographies in FY24
This content is classified as Internal Continued revenue growth across geographies in FY24 59%1 Italy 17%1 Nordics2 Key Highlights ▪ Continued revenue growth across geographies in FY24 thanks to volume +1.0% growth, driven by International Schemes, +5.2% 2,067.4 609.8 customer base growth and value
Slide 13: Strong cost performance thanks to operating leverage, cost control and synergies
This content is classified as Internal Strong cost performance thanks to operating leverage, cost control and synergies, notwithstanding inflationary pressure Total Costs (€M) Key Highlights Personnel Costs Operating Costs ▪ Continued organizational efficiency measures and operating leverage limitin
Slide 14: Capex and Capex intensity decreasing despite continued investments
This content is classified as Internal Capex and Capex intensity decreasing despite continued investments to support innovation, quality and IT transformation Capital Expenditure1 (€M) Key Highlights % of FY23 % of FY24 net revenues net revenues ▪ Continued reduction of total Capex and Capex intensi
Slide 15: Continued strong reduction of Integration and Transformation Costs
This content is classified as Internal Continued strong reduction of Integration and Transformation Costs Transformation and Bridge from FY 2024 transformation and integration costs to non-recurring items (€M) integration costs (€M) Integration costs Transformation costs -82.3 ~-81 €M cash component
Slide 16: Continued growth of excess cash generation in the year
This content is classified as Internal Continued growth of excess cash generation in the year Excess cash generation1 (€M) 1,862.4 -447.0 -218.5 1,231.0 34.1 +19% y/y4 -322.7 -165.1 716.9 -26.3 FY24 Reported Cash Capex Non-recurring ∆ NWC2 Operating Cash Taxes Net Cash Other Cash Excess Cash EBITDA
Slide 17: Accelerating excess cash generation and double-digit normalised EPS growth in 2024
This content is classified as Internal Accelerating excess cash generation and double-digit normalised EPS growth in 2024 including share buy-back effect FY24 Excess cash1 FY24 Normalised EPS2 Normalised Net Profit 702 €M 731 €M +19% 717 +11% 0.59 601 0.54 2023 2024 FY23 FY24 Note: (1) Operating cas
Slide 18: Net Financial Debt / EBITDA down to 2.7x (2.4x pre share buy-back)
This content is classified as Internal Net Financial Debt / EBITDA down to 2.7x (2.4x pre share buy-back) Net Financial Debt (€M) Key Highlights ▪ ~756 €M debt maturities reimbursed in 2024; Dec 23 Mar 24 Jun 24 Sept 24 Dec 24 ~507 €M of 2025 debt maturities to be repaid ▪ Upgrade by Fitch to “BBB-”
Slide 19: 2025 Guidance
This content is classified as Internal 2025 Guidance Net Low-to-mid single digit y/y growth Revenues Underlying1 growth acceleration y/y EBITDA At least 50 bps expansion y/y margin Excess cash At least 800 €M generated2 Note: (1) Net of extraordinary high impacts, such as banks’ merchant books M&A a
Slide 20: Closing remarks
This content is classified as Internal Closing remarks
Slide 21: Key messages
This content is classified as Internal Key messages Continued delivery of growth and Shaping Nexi for Creating value for our strong excess cash generation future profitable growth Shareholders 2024 Guidance delivered 2025 Guidance Capital Allocation Return to Shareholders in 2025: ~600 €M (+20% incr
Slide 22: Q&A
This content is classified as Internal Q&A
Slide 23: Annex
This content is classified as Internal Annex
Slide 24: Merchant Solutions: key business update
This content is classified as Internal Merchant Solutions: key business update FY24 TRX Value Key Business Highlights Examples of recent 59%1 ▪ Continued growth of terminals installed base2 across all markets, particularly in Italy, DACH and Poland customer wins & upsells ▪ Strong acceleration in It
Slide 25: Group normalised P&L at constant scope and FX
This content is classified as Internal Group normalised P&L at constant scope and FX Δ% vs. Δ% vs. FY23 FY24 4Q23 4Q24 €M FY23 4Q23 Merchant Solutions 1,877.6 1,996.2 +6.3% 495.3 518.9 +4.8% Issuing Solutions 1,083.6 1,128.6 +4.2% 299.0 310.5 +3.8% Digital Banking Solutions 383.0 389.2 +1.6% 114.3 1
Slide 26: Well diversified revenue base both in terms of business and geography at scale
This content is classified as Internal Well diversified revenue base both in terms of business and geography at scale, with exposure to fast growing European markets FY24 Revenues breakdown FY24 Costs breakdown by type By business By geography By type Merchant Solutions Installed based Italy Nordics
Slide 27: Bridge from Reported EBITDA to Normalised Net Profit
This content is classified as Internal Bridge from Reported EBITDA to Normalised Net Profit €M 1,862.4 -914.1 -228.0 -160.1 332.3 -40.8 731.0 -2.8 -332.3 434.2 -220.7 167.4 0.8 FY24 D&A Interest Non Taxes & FY24 At constant D&A ∆ Interest Non ∆ Taxes and Net FY24 Reported Expenses recurring Minoriti
Slide 28: Bridge from excess cash to cash flow of the period
This content is classified as Internal Bridge from excess cash to cash flow of the period €M 717 -790 -499 89 -483 FY24 Excess Cash Δ Debt Δ Equity Net M&A Cash Flow of the period 28
Slide 29: Debt maturities as of 4Q24
This content is classified as Internal Debt maturities as of 4Q24 Nexi Group Debt Maturity Schedule1 (€M) Senior Notes Commitments in excess of 3 €B Term Loans 1,976 received from relationship banks to Convertible Notes fully refinance the 1 €B Term Loan due 2026 and increase the RCF to 1 €B. Maturi
Slide 30: Making digital payments a driver of progress as an ESG champion
This content is classified as Internal Making digital payments a driver of progress as an ESG champion TOP OF MIND ESG Digital Payments as a driver for progress RECOGNITIONS 2024 Focus Areas Target 2025 Progress to 2024 Social Progress, Digitization and 400K 316K of digital proposition Contracts dig
Slide 31: Investor Relations
This content is classified as Internal Investor Relations investor.relations@nexigroup.com Stefania Mantegazza stefania.mantegazza@nexigroup.com