Amplifon SpA · MIL:AMP
Amplifon SpA — Q3 2021 Earnings Presentation
16 slides from Amplifon SpA's earnings presentation, Oct 27, 2021
Slide 1: Q3 & 9M 2021 Results
Q3 & 9M 2021 Results M i l a n , O c t o b e r 2 7 th, 2 0 2 1
Slide 2: Disclaimer
Disclaimer The following applies to this document, the oral presentation of the information in this document by Amplifon S.p.A. (the “Company”) or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the “Information”). In accessi
Slide 3: Q3 2021: Another excellent quarter across the board, with the US clearly standing out
Q3 2021: Another excellent quarter across the board, with the US clearly standing out Outstanding top-line growth, well above market, despite extremely challenging comparable basis vs both 2019 and 2020 At +21.2% at constant FX vs Q3 2019, with organic growth at +13.8% At +8% at constant FX vs
Slide 4: Q3 2021 Financial highlights
Q3 2021 Financial highlights Another excellent quarter with top-line performance up over 20% at constant FX vs Q3 2019 and strong profitability step-up, despite very challenging comparison basis Pro-forma figures without Elite Revenues at constant FX up +21.2% vs Q3 2019 and +8% vs Q3 2020 Data in
Slide 5: 9M 2021 Financial highlights
9M 2021 Financial highlights Excellent nine-months results across the board Pro-forma figures without Elite Revenues at constant FX up +19.4% vs 9M 2019 and +38.1% vs 9M 2020 Data in €m 9M 2021 9M 2020 9M 2019 Δ 21/20 Δ 21/19 Very strong organic growth at +13.3% vs 9M 2019 and +33.2% vs 9M 2020,
Slide 6: Financial results by Region: EMEA
Financial results by Region EMEA: strong top-line performance, despite very challenging comparable basis, and outstanding profitability Revenues at constant FX up +14.5% vs Q3 2019 and +2.1% vs Q3 Data in €m Q3 2021 Q3 2020 Q3 2019 Δ 21/20 Δ 21/19 2020 REVENUES 310.2 303.2 270.7 +2.3% +14.6% Str
Slide 7: Financial results by Region: Americas Q3 2021
Financial results by Region AMERICAS Q3 2021: impressive revenue growth continues, boosted by ~+40% well above-market organic growth vs Q3 2019 and by PJC Hearing recent acquisition Pro-forma figures without Elite Outstanding revenue growth at constant FX of +61.2% vs Q3 2019 and +46.1% vs Q32020
Slide 8: Financial results by Region: Americas 9M 2021
Financial results by Region AMERICAS 9M 2021: excellent performance throughout the period Pro-forma figures without Elite Outstanding revenue growth at constant FX of +63.0% vs 9M Data in €m 9M 2021 9M 2020 9M 2019 Δ 21/20 Δ 21/19 2019 and +74.9% vs 9M 2020 Excellent organic growth at +41.7% vs
Slide 9: Financial results by Region: APAC
Financial results by Region APAC: solid and above-market performance, despite local lockdowns in Australia and New Zealand Revenue growth at constant FX of +17.4% vs Q3 2019 and +2.2% Data in €m Q3 2021 Q3 2020 Q3 2019 Δ 21/20 Δ 21/19 vs Q3 2020 Extremely challenging comparable basis for 2019 an
Slide 10: Q3 & 9M 2021 Financial results (pro-forma without Elite)
Q3 & 9M 2021 Financial results (pro-forma without Elite) Excellent growth and profitability expansion, further increasing carving-out Elite Data in €m Q3 2021 Q3 2020 Q3 2019 Δ Rec Δ Rec (unless specified) Recurring Recurring Reported 21/20 21/19 Reported REVENUES 448.1 448.1 413.4 375.9 375.9 +8.4%
Slide 11: Q3 2021 Financial results (with Elite)
Q3 2021 Financial results (with Elite) Excellent results in all P&L items leading to a Net Profit recurring of ~€26 million, up ~+60% vs Q3 2019 Data in €m Q3 2021 Q3 2020 Q3 2019 Δ Rec Δ Rec (unless specified) Recurring Recurring Reported 21/20 21/19 Reported REVENUES 459.1 459.1 428.2 392.7 392.7
Slide 12: 9M 2021 Financial results (with Elite)
9M 2021 Financial results (with Elite) Excellent results in all P&L items leading to a Net Profit recurring of €106 million, up +40% vs 9M 2019 Data in €m 9M 2021 9M 2020 9M 2019 Δ Rec Δ Rec (unless specified) Recurring Recurring Reported 21/20 21/19 Reported REVENUES 1,418.6 1,418.6 1,042.1 1,224.7
Slide 13: 9M 2021 Financial results: cash flow
9M 2021 Financial results Outstanding cash generation, leading to a reduction in NFP Data in €m 9M 20211 9M 20202 9M 20193 Operating cash flow before repayment of lease liabilities 288.7 205.4 187.0 Repayment of lease liabilities (69.3) (50.3) (59.6) Operating cash flow 219.4 155.1 127.4 Capex (net)
Slide 14: 9M 2021 Financial results: NFP and leverage
9M 2021 Financial results NFP further reducing and leverage at 1.25x Data in €m 30/09/2021 31/12/2020 Cash (521.8) (545.0) Short-term debt 167.7 75.4 Medium/long-term debt 970.9 1,103.3 Net financial debt 616.8 633.7 Lease liabilities 430.6 422.8 Total financial debt & lease liabilities 1,047.4 1,05
Slide 15: 2021 Outlook
2021 Outlook Fully on track for another record year Entering Q4 with an excellent 9M behind Overall positive outlook We expect vaccinations to continue reducing the global impacts of Covid-19 In particular, we expect restrictions in Australia and New Zealand significantly easing as vaccinati
Slide 16: Investor Relations and Sustainability Contacts
Investor Relations and Sustainability Contacts FRANCESCA RAMBAUDI AMANDA HART GIRALDI FRANCESCO ROMEO OLGA LEPECHKINA Investor Relations & Sustainability Sr Director Investor Relations Manager Sustainability Manager Assistant Tel: +39 02 5747 2261 Tel: +39 02 5747 2317 Tel: +39 344 2723 416 Tel: +39