Slide 1: GVS SPA
GVS SPA 09.11.2022
Slide 2: Agenda
Agenda 1 YTD Sep 2022 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 2022 GVS Performance Highlights
YTD Sep 2022 GVS Performance Highlights Sales: 273,5 M€ +30% on the normalized (net Disp. Mask) 9M 2021 and +6% without normalization on the same period. FX with positive impact about 7%. • HC&LS positive trend with +22,7% on 9M 2021, with the two new M&A additions. • E&M with a +6% of growth on 9M
Slide 4: YTD Sep 2022 Evolution of Sales
YTD Sep 2022 Evolution of Sales TOTAL Normalized SALES YTD Sep 2022: 274 M€ +6% vs 2021 and +30% vs Normalized 2021 The Healthcare & Lifesciences division is growing on 9M 2021 (+23%) thanks the M&A addition on the HC Liquid. The weight on the total for the division overcomes the 60%. The Energy & M
Slide 5: YTD Sep 2022 Evolution of Sales - HC & LS
YTD Sep 2022 Evolution of Sales TOTAL HC & LS SALES Q3 2022: 71,6 M€ +70% vs Q3 2021 and +40% vs Q2 2022 The HC Liquid subdivision is recovering its normal organic growth trend (+17% on Q3 2021 and +13% on last quarter) even without considering the M&A additions (39M€ YTD 2022). Laboratory is runnin
Slide 6: YTD Sep 2022 Evolution of Sales - E & M
YTD Sep 2022 Evolution of Sales TOTAL E & M SALES Q3 2022: 19,5 M€ +22% vs Q3 2021 and +4% vs Q2 2022 The positive trend is quite splitted on the three subdivision. € 20,1 € 19,5 € 18,8 € 16,0 € 15,8 This document and all its contents are property of GVS. All unauthorised use, reproduction or distri
Slide 7: YTD Sep 2022 Evolution of Sales - H & S
YTD Sep 2022 Evolution of Sales TOTAL H & S SALES Q3 2022: 15,7 M€ +54% vs Q3 2021 and +1% vs Q2 2022 The Health & Safety division reflects the seasonability of the blasting business in the SAR product Family (RPB business) registered in the Q1 2022 and the delay of the dust mask of GVS professional
Slide 8: Key Financial Highlights — EBITDA and EBIT
Key Financial Highlights — EBITDA and EBIT ADJUSTED EBITDA1 (€M) KEY COMMENTS % on Sales Adjusted EBITDA: • Q3 2022 adjusted EBITDA lower level compared with the historical GVS trend: • Higher variable cost incidence in the last quarter due to the delay in the price list increase vs cost increase. T
Slide 9: 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 2,1 M€ in Q3 2022, increasing compared with the previous quarters due to the gene
Slide 10: 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 Proforma Sales R&D2 (€M) KEY COMMENTS % on Sales • About 14 M€ as YTD Capex, excluding 3,7 M€ of one off capex due to the new plant in China and extraordinary activities for M&A, with a trend in
Slide 11: Key Financial Highlights — Net Financial Position
Key Financial Highlights — Net Financial Position NET FIN. INDEBTEDNESS (€M) AND CASH CONVERSION1 Cash conversion 69.3% 74.7% 79.0% 78.2% 78.5% 75,0% On Proforma Basis KEY COMMENTS NFP increased up to 404M€ due to the concentration of the last three acquisitions and the slow down of profitability; L
Slide 12: Key Financial Highlights — Net Financial Position
Key Financial Highlights — Net Financial Position NET FIN. INDEBTEDNESS (€M) BRIDGE 2022 VS 2021 KEY COMMENTS NFP has increased due to the last acquisitions and the slow down of profitability up to 404 M€: • STT + HT Acquisition 268M€ cash + 38,3 M€ as NPV of future earn-outs. • Operative Cash flow
Slide 13: Visibility on Future Performance and Q4 Focus
VISIBILITY ON FUTURE PERFORMANCE AND Q4 FOCUS The actual forecasts shows a double digit growth, over 10%, for the Full Year 2022 including all the new acquisition made. We expect a final Adj EBITDA margin in line with the 9M YTD 2022. Three main topics under focus for the next quarter: 1 Industrial
Slide 14: Agenda
Agenda 1 YTD Sep 2022 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 15: Company Presentation: The Only Way to Say Filtration
COMPANY PRESENTATION Healthcare & Life Sciences Health & Safety Energy & Mobility THE ONLY WAY TO SAY FILTRATION
Slide 16: Board of Directors
BOARD OF DIRECTORS Grazia Massimo Marco Valentini Scagliarini Scagliarini Chairman CEO VP Energy & Mobility Matteo Mario Nadia Viola Saccone Buttignol COO CFO Indipendent Director Arabella Alessandro Michela Caporello Nasi Schizzi Indipendent Indipendent Indipendent Director Director Director This d
Slide 17: Key People
KEY PEOPLE Massimo Mario Matteo Marco Scagliarini Saccone Viola Scagliarini CEO CFO COO VP E&M • 37 years in GVS • 26 years in GVS • 13 years in GVS • 37 years in GVS • Started as Sales Manager • MBA from Profingest Management School, • Started as controller in GVS, • Held several managerial positio
Slide 18: 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 19: GVS economic and production improvement over the last years
GVS economic and production improvement over the last 40 years 2021 Turnover € 288M* *This graph excludes the sales of disposable masks which occurred as a result of the global pandemic, while mask sales in 2021 as a result of Covid-19 stood at € 338M. This document and all its contents are property
Slide 20: Employees breakdown by geography - 2022
Employees breakdown by geography - 2022 ASIA & EMEA NORTH & SOUTH PACIFIC AMERICA 14% 43% 46% 641 1.843 2.167 Team Team Team Members Members Members This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information containe
Slide 21: GVS has production facilities in several locations worldwide
GVS has 20 production facilities, in several locations worldwide RUSSIA ITALY ROMANIA JAPAN USA UK KOREA CHINA PUERTO RICO VIETNAM MEXICO INDIA MALAYSIA BRASIL Plant THAILAND Presence with production plants Offices ARGENTINA TURKEY Indirect sales NEW ZELAND This document and all its contents are pro
Slide 22: GVS evolved from a small healthcare components supplier into a global diversified filtration group
GVS evolved from a small healthcare components supplier into a global diversified filtration group 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 for
Slide 23: M&A Transactions Since 2009
17 M&A TRANSACTIONS SINCE 2009 Adding capabilities and strengthening presence across China, the UK and North America Nypro M. BU Healthcare Filtration Haemonetics Puerto Rico LLC Nihon Nypro Haemotronic Sales licenses in Japan Graphic Controls Germa Medical Remploy Personal safety Laboratory Filtrat
Slide 24: Divisions & Product Lines
DIVISIONS & PRODUCT LINES Healthcare & Life Sciences Health & Safety Energy & Mobility Healthcare & Liquid Personal Safety Powertrain & Drivetrain Vent IV caps Flow Blood Filters Transducer Disc Regulators Filters protectors filters Healthcare Air & Gas Air Safety Safety & Eletronics Spirometry Brea
Slide 25: Diversified Blue-Chip Client Base
DIVERSIFIED BLUE-CHIP CLIENT BASE Over 4,600 customers, long-tenured relationship with top clients 1. Excluding €3.2m other income not attributable to single categories; 2. Most of them are GVS clients. This document and all its contents are property of GVS. All unauthorised use, reproduction or dis
Slide 26: GVS's divisions differentiate for an integrated & highly synergistic business model
GVS’s divisions differentiate for an integrated & highly synergistic business model Healthcare Health Energy & Life Sciences & Safety & Mobility Sales & Distribution Similar Stringent Approval Processes Common Manufacturing Processes & Technologies High Quality Standards Required Shared R&D Activiti
Slide 27: Our success is based on strong focus on innovation and customer satisfaction
Our success is based on strong focus on innovation and customer satisfaction 8 ~6% 53 104 ~80 R&D Centers With Chemical And Of Sales Patents For Proprietary Highly Skilled R&D External Quality Audits Biological Know-How In R&D Products Professionals P.a. International quality certificates Preferred
Slide 28: Quality Certification
QUALITY CERTIFICATION GVS has obtained several Quality Certification, from several Certification Bodies 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 severel
Slide 29: 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 30: 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.” Massimo Scagliarini, CEO GVS Group This document and all its contents are prope
Slide 31: Strategic Goal Settings
STRATEGIC GOAL SETTINGS STRATEGIC PILLAR COMMITMENT TARGET IMPROVE THE PROTECTION LEVEL OF OUR PPE INNOVATE TO PROMOTE SAFETY AND PROMOTE AWARENESS AND BEST AND WELL-BEING PRACTISES IN ALL WORK ENVIRONMENTS DEVELOP AND DELIVER HEALTHCARE DEVICE INNOVATIVE WE BRING INNOVATION AND COMPONENTS THAT COMB
Slide 32: Agenda
Agenda 1 YTD Sep 2022 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 33: Key Financial Highlights — Income Statement
Key Financial Highlights — Income Statement YTD Sep 2022 (€m) YTD Sep 2021A YTD Sep 2022A YoY Var. % Healthcare & Life Sciences 88,2 165,8 88,0% Energy & Mobility 55,0 59,1 7,5% Health & Safety 66,8 48,5 -27,4% Normalized Revenues 210,0 273,4 30,19% Covid related mask 48,0 0,0 Revenues from contract
Slide 34: Key Financial Highlights — Adjustments Overview
Key Financial Highlights — Adjustments Overview YTD Sep YTD Sep YTD Sep 2022 (€m) 2021A 2022A EBITDA 85,0 49,3 Capital gains from sale processes and (2,4) leaseback Start-up costs Write-off of tax receivables Personnel reorganization costs Non recurring Provisions to restructuring fund 2,6 costs (in
Slide 35: Key Financial Highlights — Balance Sheet
Key Financial Highlights — Balance Sheet YTD Sep 2022 (€m) 2021 YTD Sep 2022A Property Plant & Equipment 77,6 117,3 Intangible Assets 227,7 509,8 Right of use 10,4 23,7 Financial Fixed Assets 1,0 3,8 Net Fixed Assets 316,8 654,6 Inventories 72,4 119,9 Trade Receivables 53,0 77,1 Trade Payables (23,8
Slide 36: Key Financial Highlights — Cash Flow Statement
Key Financial Highlights — Cash Flow Statement YTD Sep 2022 (€m) 2021 YTD Sep 2022A Earning Before Tax 89,8 60,5 D&A 23,5 26,4 Others (3,7) (38,1) Operative Cash Flow 109,6 48,8 Δ Trade Working Capital (20,6) (18,5) Δ Other Current Liabilities (33,6) 7,2 Operating Cash Flow 55,4 37,5 Ordinary Capex
Slide 37: 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 38: 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