Slide 1: GVS SPA Filter Technology
FILTER TECHNOLOGY GVS SPA Nov 2021
Slide 2: Agenda
Agenda 1 YTD Sep 2021 Outlook 2 Company Presentation Appendix: Additional Materials This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 3: YTD Sep 2021 GVS Performance Highlights
YTD Sep 2021 GVS Performance Highlights Sales: 258 M€ in line with the same period of 2020 • Q3 2021 weaker quarter of the year vs the higher historical level reached in Q3 2020 • FY2021 Revenues expected at approx. 345 M€ with significant recovery in Q4 EBITDA: 33,3% of Adjusted EBITDA Margin • YTD
Slide 4: YTD Sep 2021 Evolution of Sales
YTD Sep 2021 EVOLUTION OF SALES TOTAL SALES YTD Sep 2021: 258 M€ in line with 9M 2020 The Healthcare & Lifesciences and Energy & Mobility Divisions keep a positive trend of growth compared with the previous year. The Health & Safety Division reflects the reduction due to the transition in a post Cov
Slide 5: Key Financial Highlights — EBITDA and EBIT
Key Financial Highlights — EBITDA and EBIT ADJUSTED EBITDA1 (€M) KEY COMMENTS Adjusted EBITDA: % on Sales • YTD Sep 2021 adjusted EBITDA reduced vs the YTD Sep 2020, due to: • the mix of product sold; • the increase of finish products inventories, with av. cost valorization; • The increase of struct
Slide 6: Key Financial Highlights — Net Income, Fin. Exp. & Taxes
Key Financial Highlights — Net Income, Fin. Exp. & Taxes NET FINANCIAL EXPENSES EXCL. FX GAINS/LOSSES (€M) TAXES (€M) % on Sales % EBT ADJUSTED GROUP NET INCOME1 (€M) KEY COMMENTS % on Sales • Net Financial expenses at 1,4 M€ in 2021 registering a strong reduction compared to the same period of 2020
Slide 7: Key Financial Highlights — CapEx, TWC and R&D
Key Financial Highlights — CapEx, TWC and R&D CAPEX1 (€M) TRADE WORKING CAPITAL (€M) % on Sales % on LTM Sales 140,3 M€ extraordinary op. R&D2 (€M) KEY COMMENTS % on Sales • About 15,5 M€ as Capex, net of extraordinary activities, related to the new production lines and maintenance, with a trend in
Slide 8: Key Financial Highlights — Net Financial Position
Key Financial Highlights — Net Financial Position NET FIN. INDEBTEDNESS (€M) AND CASH CONVERSION1 Cash 74.3% 78.9% 78.2% 82% conversion NFP / Adj EBITDA KEY COMMENTS NFP has increased due to the last RPB acquisition up to 127,6M€: • RPB Acquisition 129,2M€ cash + 28,9 M€ as future earn out. • Operat
Slide 9: Visibility on FY 2021 Performance
VISIBILITY ON FY 2021 PERFORMANCE Strong 4Q quarter recovery expected in terms of turnover and profitability FY2021 Sales at ~ 345 M€ ~ +52% on 2019 pre-pandemic Actual YoY % year +60% 363,3 345 227,4 +479% H&S H&S E&M -26% E&M +38% HC & LS HC & LS FY2019 FY 2020 FY 2021 Guidance (€m) Note: Division
Slide 10: Visibility on FY 2021 Performance
VISIBILITY ON FY 2021 PERFORMANCE We expect a full year EBITDA margin of ~ 33%. Q4 main trends: 1. Continuous Healthcare and Lifescience and Energy and Mobility positive trend 2. Stronger Personal Safety both for disposable and professional mask. 3. Industrial structure costs optimization. Note: Div
Slide 11: Update on GVS Business
UPDATE ON GVS BUSINESS 1 Organization Empowerment with main focus on Human Resources and Sales 2 M&A pushing in different geographic areas, with focus on HC&LS and H&S. 3 Launch of new Products for each Commercial Division 4 Geographical Expansion new commercial officies in Asia GVS YTD 5 Increase p
Slide 12: Agenda
Agenda 1 YTD Sep 2021 Outlook 2 Company Presentation Appendix: Additional Materials This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 13: Presentation
PRESENTATION FILTER TECHNOLOGY "ENERGY & aa 7 Soo"
Slide 14: Board of Directors
BOARD OF DIRECTOR Grazia Valentini Massimo Marco Scagliarini Chairman Scagliarini VP Energy & Mobility CEO Matteo Viola Mario Saccone Nadia Buttignol COO CFO Indipendent Director Arabella Alessandro Nasi Michela Schizzi Caporello Indipendent Indipendent Indipendent Director Director Director This do
Slide 15: Key People
KEY PEOPLE Massimo Mario Saccone Matteo Viola Scagliarini CFO COO CEO 25 years in GVS 12 years in GVS 36 years in GVS • In GVS since 1985, started as Sales Manager and currently • MBA from Profingest Management School, Bologna, Italy • In GVS since 2008, started as controller and currently serves se
Slide 16: GVS provides advanced filtration solutions for critical applications in highly-regulated end markets
GVS provides advanced filtration solution for critical application in Highly-regulated end markets Our TECHNOLOGY supports LIFE and guarantees SAFETY in the most CRITICAL ENVIRONMENTS This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this d
Slide 17: GVS economic and production improvement over the last 40 years
GVS economic and production improvement over the last 40 years 1979 1984 1989 1994 1999 2004 2009 2012 2015 2018 2019 2020 This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other t
Slide 18: The Head Office and 3 manufacturing facilities are based in Italy
The Head Office and 3 manufacturing facilities are based in Italy This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 19: GVS has 15 production facilities in several worldwide locations
GVS has 15 production facilities, in several worldwide locations ROMANIA UK (1 PLANT) (1 PLANT) US (5 PLANTS) ITALY (3 PLANT) CHINA (2 PLANTS) PORTO RICO (1 PLANT) MEXICO (1 PLANT) BRAZIL (1 PLANT) Presence with production plants Offices Indirect sales This document and all its contents are property
Slide 20: Core Competences
GVS evolved from a small healthcare components supplier into a global diversified filtration group Solutions Focus Biology Product CORE COMPETENCES Focus Chemistry Chemistry Process Focus Automation Automation Automation 1979 ’90-’00 2012 Today Origin in healthcare Development and international Main
Slide 21: 15 M&A Transactions Since 2009
15 M&A TRANSACTIONS SINCE 2009 Adding capabilities and strengthening presence across China, the UK and North America Haemonetics Nypro M. BU Puerto Rico LLC Healthcare Filtration Graphic Nihon Nypro Controls Sales licenses in Japan Gema Remploy Medical Filtration EPA Personal safety Laboratory Filtr
Slide 22: Divisions and Products Line
Divisions and Products Line Healthcare & Life Sciences Health & Safety Energy & Mobility Healthcare & Liquid Personal Safety Powertrain & Drivetrain IV Vent Fuel pressure Flow Filters caps regulators Urea SCR filters Gasoline-diesel-urea Regulators Blood Transducer Disc filters PPE – Elipse fa
Slide 23: End Markets
Diversified blue-chip client base 2020A Revenues Division Breakdown1 (%) Illustrative example of companies requiring filtration solutions2 Healthcare Liquid and Healthcare 38% Healthcare Air & Life Sciences Laboratory 6% Personal Safety 37% End Markets Health & Safety Air Safety 2% Powertrain & Driv
Slide 24: GVS's divisions differentiate for an integrated and highly synergistic business model
GVS’s divisions differentiate for an integrated and highly synergistic business model Healthcare Healthcare Energy & Life Sciences & Safety & Mobility Sales and Distribution Similar stringent approval processes Common Manufacturing processes and technologies High quality standards required Shared R&
Slide 25: Our success is based on strong focus on innovation and customer satisfaction
Our success is based on strong focus on innovation and customer satisfaction 7 ~7% 55 110 ~80 R&D centers with chemical and biological Of sales Patents for proprietary Highly skilled R&D External quality audits know-how in R&D products professionals p.a. International quality certificates Preferred
Slide 26: Quality Certification
QUALITY CERTIFICATION GVS has obtained several Quality Certification, from several Certifiation Body This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely f
Slide 27: An ESG-Compliant Organization
AN ESG-COMPLIANT ORGANIZATION ENVIRONMENTAL SOCIAL GOVERNANCE 1 2 3 • UNI EN ISO 14001 certification for • Support of a range local • Ethics Code Environmental Management charitable and non-profit • Board of Statutory System (EMS) organizations auditors with 3 • Group environmental policy with • Chr
Slide 28: An ESG-Compliant Organization
AN ESG-COMPLIANT ORGANIZATION “ The ability to do business in an innovative and sustainable way, to facilitate the ecological transition and to enhance the value of people, are one of the pillars of GVS ” Group's strategy. This document and all its contents are property of GVS. All unauthorised use,
Slide 29: Strategic Goals Setting
STRATEGIC GOALS SETTING This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 30: Agenda
Agenda 1 YTD Sep 2021 Outlook 2 Company Overview Appendix: Additional Materials This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 31: Key Financial Highlights — Income Statement
Key Financial Highlights — Income Statement Note: margins calculated on revenues from contracts with customers excluding other income This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by any
Slide 32: Key Financial Highlights — Adjustments Overview
Key Financial Highlights — Adjustments Overview Non recurring costs (income) Note: margins calculated on revenues from contracts with customers excluding other income. This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the i
Slide 33: Key Financial Highlights — Balance Sheet
Key Financial Highlights — Balance Sheet 1 Includes also the item Current Financial Assets. This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 34: Key Financial Highlights — Cash Flow Statement
Key Financial Highlights — Cash Flow Statement This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.
Slide 35: Basis of preparation of financials
Basis of preparation of financials • Financial Overview slides present consolidated and division financial information of GVS S.p.A. and its reporting units • The financial information has been prepared in accordance to IFRS • Due to rounding, numbers expressed in millions throughout this section ma
Slide 36: Disclaimer
DISCLAIMER Pursuant to art. 154-bis, paragraph 2, of the Italian Unified Financial Act of February 24, 1998, the executive in charge of preparing the corporate accounting documents at GVS S.p.A., Emanuele Stanco, declares that the accounting information contained herein correspond to document result