Gpi Spa · MIL:GPI
Gpi Spa — Investor Presentation (April 2019)
35 slides from Gpi Spa's investor presentation, April 2019
Slide 1: Investor Presentation
Investor Presentation April 2019
Slide 2: Disclaimer
DISCLAIMER The material in this presentation has been prepared by GPI S.p.A. (“GPI” or “the Company”) without independent verification and it is general background information about GPI’s activities current as at the date of this presentation. This information is given in summary form and does not p
Slide 3: Video corporate
Video corporate 3
Slide 4: Vision
VISION Being the leading partner in the route to innovation for care, therapy and preventive models to ensure health and well-being 4
Slide 5: Mission
MISSION Partnering up with the Healthcare Institutions to ensure the continuous improvement of internal processes, so that they can provide accurate and efficient care pathways through bespoke software, services and technologies 5
Slide 6: The Healthcare Partner. The Patient at the Centre
THE HEALTHCARE PARTNER. THE PATIENT AT THE CENTRE
Slide 7: Strategic Business Areas
Strategic Business Areas > YOY GMD OO Automati
Slide 8: Strategic Business Areas
Strategic Business Areas Automation Pay 45% 4% 2% HIS ≈ 35% ICT ERP ≈ 15% 6% BLOOD ≈ 10% HR ≈ 10% Other Solutions ≈ 30% 12% Care 43% 43% Software Administrative Serv. ≈ 95% 45% Other Ser. ≈ 5% 8
Slide 9: Software
SOLUTIONS THAT MAKE DIFFERENCE ERP - Enterprise Resource Planning HR - Human Resources HIS - Hospital Information System Software Population Health Management Veterinary & Food Safety Blood Bank Management Integration Middleware Content Access Portals 9
Slide 10: Care
ALWAYS CARING, ALWAYS HERE Business Process Outsourcing Auxiliary Administrative Services such as: Health Services Booking, Contact & Call Centre, Front-end/desk, Secretariat, Care Cultural Mediation for foreign citizens, etc. Social and Virtual Care Health- and Social-care Services, Telemedicin
Slide 11: Customers
Customers +1,900 Public and private customers Hpub Hpri NHpub NHpri 2017 80% 5% 7% 8% 2018 72% 9% 9% 10% • Health Authorities • Analytics, Providers • Municipalities • Large-Scale Distributors • Hospitals • Trade Associations, • Provinces • Banking Institutions • Nursing Homes, Private Insurance Com
Slide 12: Main Customers
Main Customers LOCAL AUTHORITIES REGIONAL AUTHORITIES PRIVATE ORGANIZATION INTERNATIONAL ORGANIZATION
Slide 13: Italy and Worldwide Solutions
ITALY > 40 branches WORLDWIDE 18 branches ARE AUS AUT BRA CHE CHL DEU ESP GBR HUN JOR MEX PER POL RUS SAU TUR USA SOLUTIONS > 60 countries 13
Slide 14: A History of Growth: M&A
A History of Growth: M&A 1988-2016 cpl GPL established became ajoint-siock in October company Evolve GPI (50%) Lombardia Contact (100%) GP! Technology (30%) ACQUIRED Saluris (60%) DO.MI.NO (70%) Nuova Sigma (100%) EDP Sistemi (100%) Net Medica (100%) Info Line (100%) Xidera (60%) Hemasofe (60%) Hema
Slide 15: A History of Growth: Figures 2016-2018
A History of Growth: Figures 2016 – 2018 M&A INVESTMENTS REVENUES M€ ≈ 65 M€ Deals +13% Vs 2017 203.7 + 32% Total CAGR Rev. 2018 179.9 2017 136.2 2016 EBITDA ADJ. M€ HEADCOUNTS Avg. Age 39.5 +10% Vs 2017 28.6 4,377 2018 2018 2017 26.1 2017 3,904 20.1 3,675 2016 2016 15
Slide 16: Revenues & EBITDA
Revenues & EBITDA 2018 vs 2017 SOFTWARE CARE OTHERS REVENUES Adj. EBITDA REVENUES Adj.EBITDA REVENUES Adj. EBITDA 2018 90.7 (M) (M) 22.3 88.2 (M) (M) 3.7 24.8 (M) (M) 2.6 203.7 M€ 45 (%) (%) 24.7 43 (%) (%) 4.7 12 (%) (%) 10.5 +13% +18% +6% +24% 76.7 18.1 83.2 5.0 20.0 3.0 2017 (M) (M) (M) (
Slide 17: Revenues: Domestic vs International
Revenues Domestic vs International ITALY INTERNATIONAL 2018 % 2017 % % 184.8 (M) (M) 17.1 REVENUES M€ on net rev. M€ on net rev. 91.5 (%) (%) 8.5 2018/2017 ITALY 184.8 91.5% 165.7 92.6% +12% +12% +30% +13% INTERNATIONAL 17.1 8.5% 13.1 7.4% +30% 165.7 (M) (M) 13.1 NET REVENUES 201.9 100.0% 178.
Slide 18: Focus on Software & Care
Focus on Software & Care 18
Slide 19: Leader in Software Solutions & Care Services
Leader in Software Solutions & Care Services Market size Revenues 2018: 90.7 M€ (45%) Revenues 2018: 88.2 M€ (43%) ● €1.094 B market value in Italy in 2017* ● €155 M market value in Italy in 2017 * ● ≈ 6,2% market share in 2017 ● 24M users served in 10 regions, ≈ 40% 3rd player ITA market share (lea
Slide 20: Sole Integrated Player in Technology and Service
Sole Integrated Player in “Technology and Service” Market Positioning Mkt Sw&Servies ITA : 1.094 B€ Mkt CC & Book. Services ITA: 155 M€ Focus on Market Mkt Pop. Company Brief Description Company Brief Description Healthcare share % share % ICT system and related services ICT solutions & Care service
Slide 21: High Visibility: 68% of Revenues from Recurring Fees
High Visibility: 68% of Revenues from Recurring Fees Business Models Revenues 2018: 90.7 M€ (45%) Revenues 2018: 88.2 M€ (43%) ● 50% of Revenues from recurring fees ● 95% of Revenues from recurring fees ● Revenues = software development ● Revenues = € 1-3 per contact + periodic maintenance + fixed a
Slide 22: Breakdown of EBITDA by Business Area
Breakdown of EBITDA by Business Area Adjusted EBITDA 2018: 22.3 M€ Adjusted EBITDA 2018: 3.7 M€ ● Adjusted EBITDA margin: 24.7% ● Adjusted EBITDA margin: 4.7% ● High credit quality, strong loyalty to ● Stability of cash flows, relatively high conservative and evolutionary duration of contracts (3-6
Slide 23: Promising Core Business Portfolio
Promising Core Business Portfolio ● 10.8 M€/year awarded contracts in the ● 20.3 M€/year awarded contracts in the last 3 years last 3 years ● Tender portfolio: 38 M € revenues to ● Tender portfolio: 68 M € revenues to book in 2018-2020 book in 2018-2020 745 M€ value of procurements in which GPI part
Slide 24: Focus on FY 2018
Focus on FY 2018 24
Slide 25: Significant Growth in 2018
Significant Growth in 2018 Revenues +13%, Net Profit +21% Dividend equal to 0.33 € dps +10% • Revenues 203.7 M€, +13% thanks to the M€ 2018 2017 contribution of following business areas restated • Software +18%, • Overseas +30% Revenues & others income 203.7 179.9 • 2018 characterised by 3 M&A trans
Slide 26: Economic-Financial Highlights 2018
Economic-Financial Highlights 2018 A3.1 CERVED Rating confirmed A- S&P |A3 di Moody’s | A-1 di Fitch • Net Working Capital M€ 2018 2017 75.6 M€ (66.0 M€ in 2017): • increase in trade receivables linked to Net Working Capital 75.6 66.0 significant revenues increase in 2018 and commercial cycle of som
Slide 27: Remarks 2018 Outlook 2019
Remarks 2018 Outolook 2019 ● 13% increased Revenues vs 2017 positively influenced by the performance of the newly acquired companies in the BU Software ● Organizational and Business integration 9 merger in GPI and Argentea 27
Slide 28: Highlights 2018
HIGHLIGHTS 2018 ● Listed on MTA ● Contract awarded for BPO CUP Lazio ● 17,1 M€ revenues + 30% 2018 vs 2017 region (72 M€ in 2 years + 1 years extension) ● Malta National Electronic Patient Record (5 M€) & ● Entry into the market of the public sector State Police (1M €) with e-Payments and Collection
Slide 29: Focus on other Strategic Business Unit
Focus on other Strategic Business Unit 29
Slide 30: Other Strategic and Synergistic Business Areas
Other Strategic and Synergistic Business Areas 11% cross-selling and upselling in three-year period 2016-2018 Significant contribution in terms of Revenues and EBITDA 30
Slide 31: Focus on Strategies
Focus on Strategies 31
Slide 32: Strategy Outlook
Strategy Outlook PRODUCTS MARKETS ● Functional completion of product range by ● Consolidation of the domestic market position by R&D and M&A contract awarding and M&A ● Harmonization and integration of the software ● Expansion on international markets with selected solutions derived from the last ye
Slide 33: Investment Opportunity: GPI in the Stock Market
INVESTMENT OPPORTUNITY GPI IN THE STOCK MARKET Bloomberg: GPI:IM Price: 9.30 (05 Apr 2019) Capitalisation: €147.4 (05 Apr 2019) No. and categories of shares: 15,848,219 Ordinary Shares (ISIN: IT0005221517) Leadership and Uniqueness 61,320 Class C Shares (ISIN: IT0005221525) SHAREHOLDING STRUCTUR
Slide 34: December 2016: Listed on the Stock Exchange
26 December 2016: Listed on the Stock Exchange FAUSTO MANZANA Identification Code Chairman & CEO of GPI SpA BLOOMBERG: We want to keep growing, we believe in the validity of our GPI:IM industrial project, in its financial and social sustainability in a steadily evolving sector. REUTERS: Hence listin
Slide 35: Contacts IR
Contacts IR Fabrizio Redavid Lorenzo Giollo Maria Antonietta Pireddu m. +39 335 1035499 m. +39 340 8223333 Via C. Cantù, 1 - 20123 Milan fabrizio.redavid@gpi.it lorenzo.giollo@gpi.it Tel. +39 02 45473883/4 m.pireddu@irtop.com Via Ragazzi del '99, 13 - 38123 Trento T +39 0461 381515 investor. relatio