Tinexta Spa · MIL:TNXT
Tinexta Spa — H1 2023 Earnings Presentation
23 slides from Tinexta Spa's earnings presentation, Aug 2, 2023
Slide 1: 1H 2023 Results
1H 2023 Results Ended June 30, 2023 Milan – August 2, 2023
Slide 2: Agenda
Agenda 1 1H’23 Highlights and Updates 2 1H’23 Financial Results J. Mastragostino | Chief Investor Relations Officer O. Pozzi | Group Chief Financial Officer 3 Business Units Deep Dive 4 Closing Remarks + Q&A O. Pozzi | Group Chief Financial Officer J. Mastragostino | Chief Investor Relations Officer
Slide 3: 1H'23 Highlights and Updates
1 1H’23 Highlights and Updates J. Mastragostino | Chief Investor Relations Officer
Slide 4: Key data
Key data REVENUES € 182.5 M EBITDA Adjusted € 37.9 M (+ 2% vs PY) EBITDA + 9% vs PY € 34.5 M (+ 6% vs PY) NET PROFIT € 45.4 M NFP € 52.6 M Results at 30/06/2023 vs € 77.6 M in FY2022 4
Slide 5: 1H 2023: ahead for planned delivery
1H’23 Highlights and Updates 1H 2023: ahead for planned delivery • Results1 continue to grow also in 1H 2023: - Revenues at € 182.5M in 1H’23 (+ 8.6% vs PY); - EBITDA Adjusted at € 37.9M in 1H’23 (+ 2.3% vs PY) mainly driven by DT and CS, EBITDA2 at € 34.5M in 1H’23 (+ 5.8% vs PY); - EBITDA Adjusted
Slide 6: 1H 2023 Results
1H’23 Highlights and Updates 1H 2023 Results 1H 2023 results show Revenues of 182.5 €M million euros, EBITDA Adjusted of 37.9 million euros and Net Profit of 9.3 million 182.5 euros. 168.0 Growth was registered both in Revenues (c. + 9%) and EBITDA Adjusted (c. + 2%) EBITDA Adjusted amounted to 37.9
Slide 7: EBITDA Adjusted Quarter by Quarter – back end weighted business
1H’23 Highlights and Updates EBITDA Adjusted Quarter by Quarter – back end weighted business €M On track 40.0 29.5 22.6 22.9 19.1 17.7 16.2 14.5 15.0 11.7 Weight of each Q on 15% 25% 21% 39% 15% 24% 19% 42% 14%* 22%* Total EBITDA Adjusted 1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 3Q 2022 4Q 20
Slide 8: 1H'23 Financial Results
2 1H’23 Financial Results O. Pozzi | Group Chief Financial Officer
Slide 9: 1H 2023 Results – Income Statement
1H’23 Financial Results 1H 2023 Results – Income Statement LFL 2022 €M 1H’23 % 1H’22R % Δ Δ% Revenues 182.5 100.0% 168.0 100.0% 14.5 8.6% In top 5 products/services, all Business Units are represented Total Operating Costs 144.6 79.2% 130.9 77.9% 13.6 10.4% Service & Other Costs 65.9 36.1% 60.7 36.1
Slide 10: 1H 2023 Results – Balance Sheet
1H’23 Financial Results 1H 2023 Results – Balance Sheet €M Net invested capital increased by € 20.4 million compared to 31 479.6 500.0 December 2022 mainly due to the effect of Defense Tech’s investment (€ 25.5 million) and extraordinary investments for the acquisition of Phygital Net + 4.3% softwar
Slide 11: 1H 2023 Results – NFP & FCF
1H’23 Financial Results 1H 2023 Results – NFP & FCF €M NFP Adjusted FCF of continuing ops Main Changes in 1H 2023: 29.3 • + € 5.6M Put Options 1.3 77.6 • - € 3.0M Purchase of Treasury Shares 23.0 • + € 41.9M Disposals 6.9 Non recurring Costs & 52.6 • - € 33.3M Dividends Extraordinary Taxes Free Cash
Slide 12: 1H 2023 Results – NFP Bridge
1H’23 Financial Results 1H 2023 Results – NFP Bridge €M + € 26.6M Acquisitions - € 5.6M Put Options 77.6 52.6 0.82x NFP/EBITDA1 0.55x (1) Calculated as NFP/LTM EBITDA Adjusted 12
Slide 13: 1H 2023 Results – NFP LTM Bridge
1H’23 Financial Results 1H 2023 Results – NFP LTM Bridge • + € 38.6M acquisitions €M 267.8 • - € 20.4M Put Options 52.6 NM NFP/EBITDA1 0.55x (1) Calculated as NFP/LTM EBITDA Adjusted 13
Slide 14: Business Units Deep Dive
3 Business Units Deep Dive O. Pozzi | Group Chief Financial Officer
Slide 15: Overview 1H'23
Business Units Deep Dive Overview 1H’23 €M Group Digital Trust Cybersecurity 42.6 86.4 36.8 76.9 21.1 24.4 3.0 4.8 1H 2022 1H 2023 1H 2022 1H 2023 1H 2022 1H 2023 1H 2022 1H 2023 REVENUES EBITDA Adj. REVENUES EBITDA Adj. Business Innovation 55.4 56.1 20.0 16.3 1H 2022 1H 2023 1H 2022 1H 2023 REVENUE
Slide 16: Digital Trust 1H'23
Business Units Deep Dive Digital Trust 1H’23 €M Margin Margin 27.4% 28.2% 86.4 76.9 21.1 24.4 1H 2022 1H 2023 1H 2022 1H 2023 REVENUES EBITDA Adj. • Revenues amounted to 86.4 million euros, up by 12.4%. This growth includes the effects of the acquisition of SferaBit and the partnership with CRIF • L
Slide 17: Cyber Security 1H'23
Business Units Deep Dive Cyber Security 1H’23 €M 42.6 36.8 Margin Margin 8.2% 11.3% 3.0 4.8 1H 2022 1H 2023 1H 2022 1H 2023 REVENUES EBITDA Adj. • Revenues amounted to 42.6 million euros, growing 15.8% vs PY. The revenue growth compared to the previous year continues steadily in all business areas (
Slide 18: Business Innovation 1H'23
Business Units Deep Dive Business Innovation 1H’23 + 1.3% €M 55.4 56.1 Margin Margin 36.1% 29.0% 20.0 16.3 1H 2022 1H 2023 1H 2022 1H 2023 REVENUES EBITDA Adj. • Revenues amounted to 56.1 million euros with a 1.3% growth • In 1H 2023 Warrant Hub continued its internal reorganization process aimed at
Slide 19: Closing Remarks + Q&A
4 Closing Remarks + Q&A J. Mastragostino | Chief Investor Relations Officer
Slide 20: Financial Policy – Business Units' Financial Targets – Organic
Closing Remarks + Q&A Financial Policy – Business Units’ Financial Targets – Organic Revenues EBITDA Adjusted Key Highlights Digital Trust +10% +11% Continues to generate healthy double-digit growth 2023 Cybersecurity +30% +43% Strong top line followed by even more solid EBITDA adjusted growth vs PY
Slide 21: Guidance is confirmed
Closing Remarks + Q&A Guidance is confirmed Revenues EBITDA Adjusted NFP / EBITDA Adj.* Dividends Inflation 2023 +11-15% +8-12% 0.2-0.3x 30% of Net Profit 6% vs PY 2025 Low to mid-double digit double digit Cash positive 35% of Net Profit Assumed at 3% 2022-2025 CAGR by end of the plan by end of the
Slide 22: Disclaimer
Disclaimer This company presentation includes: ➢ forward-looking data based on internal management assumptions that are subject to material changes, including changes due to external factors beyond the Group's control ➢ management data, when presented, are identified as such Business unit data are d
Slide 23: Thanks.
Thanks. Tinexta.com Investor Relations Contacts Tinexta Presentation Piazza Sallustio,9 E-mail info@tinexta.com Josef Mastragostino Download the presentation Roma, 00187, Italia Pec tinexta@legalmail.it Chief Investor Relations Officer Tel. +39.06.42012631 LinkedIn: Tinexta investor@tinexta.com