Slide 1: GVS SPA
GVS SPA SEP 2021 STRICTLY PRIVATE & CONFIDENTIAL
Slide 2: Disclaimer
DISCLAIMER The information contained in this presentation does not purport to be comprehensive and has not been independently verified by any independent third party. This presentation does not constitute a recommendation regarding the securities of the Company. This presentation does not contain an
Slide 3: Agenda
Agenda 1 YTD June 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 4: YTD Jun 2021 GVS Performance Highlights
YTD Jun 2021 GVS Performance Highlights Sales: 30% of growth on the previous year • Q2 2021 weaker than the Q1 but in the overall trend H1 closed in line with the beginning expectation. • FY2021 expected with a final closing in a range of 340-350 M€ including the last acquisition. EBITDA: +30,4% of
Slide 5: YTD Jun 2021 Evolution of Sales
YTD Jun 2021 EVOLUTION OF SALES TOTAL SALES YTD Jun 2021: 189,7 M€ +29,7% YoY All the three GVS Main Divisions performed with a positive trend First Half 2021 in line with expectations The Healthcare & Lifesciences Division registered the higher trend of sales The Health & Safety Division was still
Slide 6: Key Financial Highlights — EBITDA and EBIT
Key Financial Highlights — EBITDA and EBIT ADJUSTED EBITDA1 (€M) KEY COMMENTS Adjusted EBITDA: % on Sales • H1 2021 adjusted EBITDA increased 30,4% vs the H1 2020, due to the mix of product. • Adjustment for a residual cost for the IPO and the GVS China sale of the building facility due to the movin
Slide 7: 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 is reducing in 2021 as a result of the Gross Debt reduction and rediscussion in the
Slide 8: 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 R&D2 (€M) KEY COMMENTS % on Sales • About 11,5 M€ as Capex related to the new production lines and maintenance, with a trend in line with the normal ongoing of the Group. • TWC is increasin
Slide 9: 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% 84% conversion NFP / Adj EBITDA KEY COMMENTS NFP stable on the 2020 year end level after the H1 2021 due to the dividend and tax payments: • No Extraordinary activities in the H1
Slide 10: Visibility on FY 2021 Performance
VISIBILITY ON FY 2021 PERFORMANCE The actual expectation is to close in a range between 340 – 350 M€ including the addition of the last acquisition which will compensate part of the delay due to the Health & Safety transition which is slower than the initial previsions. ~ +50% on 2019 Actual YoY % p
Slide 11: Update on GVS Business: H2 2021 Focus
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 H2 2021 5 Increa
Slide 12: Agenda
Agenda 1 YTD June 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 Director
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 solution for critical application 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 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 worldwide
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 Nhion Nypro Controls Sales licenses in Japan Germa Remploy Personal safety Medical Filtration EPA Laboratory Filt
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
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 June 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