Amplifon SpA · MIL:AMP
Amplifon SpA — FY2019 Earnings Presentation
16 slides from Amplifon SpA's earnings presentation, Mar 4, 2020
Slide 1: Q4 & FY 2019 Results
Q4 & FY 2019 Results Milan, March 4t*, 2020 amplifon
Slide 2: Disclaimer
Disclaimer The information contained herein and other material discussed during the conference call, particularly the ones regarding any possible or assumed future performance of the Amplifon Group, are or may be forward looking statements and in this respect they involve some risks and uncertaintie
Slide 3: FY 2019: another record year of proven execution
FY 2019: another record year of proven execution Outstanding profitable growth, also fostered by GAES successful integration = Outstanding top-line growth (Q4 2019: +26.2% in LC; FY 2019: +26.1% in LC), significantly outpacing the global hearing care retail market Excellent organic growth, well abov
Slide 4: FY 2019 Financial highlights
FY 2019 Financial highlights Excellent and well-balanced revenue growth, EBITDA above the €300 million mark = Outstanding top-line growth of +26.1% in LC FY 2019 FY 2018 A% — * Strong organic growth at +6.8% (excluding GAES), above market Data in €m W/IFRSI6 ~— w/o IFRSI6 w/o IFRSI6 and significantl
Slide 5: Q4 2019 Financial highlights
Q4 2019 Financial highlights Another excellent quarter: outstanding organic growth & profitability expansion across the board, supported by continued excellent performance of Spain = Another quarter of excellent top-line growth of +26.2% in LC Q4 2019 Q4 2018 A% eee . . . 1 . Data in€m W/IFRSI6 w/o
Slide 6: Continued strong success of the APE roll-out also in 2019
Continued strong success of the APE roll-out also in 2019 Excellent results in Italy as well as in the countries recently launched US - Miracle-Ear App (Q3) Netherlands (Q2), Germany! (Q2) Australia (Q3) & France (Q3) o Cw r © 4 * Penetration increasing steadily with target of reaching ~90%? within
Slide 7: Financial results by Region
Financial results by Region EMEA: excellent performance driven by strong organic growth and boosted by the outstanding results of Spain Outstanding revenue growth of over +31% in LC FY 2019 FY 2018 A% ° * Excellent organic growth at +7.4% (excluding GAES) Data in €1 /\FRSI 10 IFRSI /© IFRSI on WAIFR
Slide 8: Financial results by Region
Financial results by Region AMERICAS: strong top-line growth, significantly accelerating at year-end, and strong profitability expansion FY 2019 FY 2018 A% Data in €m w/IFRSI6 — w/o IFRSI6 w/o IFRSI6 REVENUES 285.3 285.3 231.8 423.1% Organic growth 44.5% Acquisitions +13.0% FX 45.6% EBITDA Rec. 64.6
Slide 9: Financial results by Region
Financial results by Region APAC: Solid growth boosted by double digit organic growth in Q4 FY 2019 FY 2018 A% Data in €m w/IFRSI6 — w/o IFRSI6 w/o IFRSI6 REVENUES 187.8 187.8 174.5 +7.6% Organic growth 45.7% Acquisitions +2.9% FX -1.0% EBITDA Rec. 55.0 44.3 43.8 41.2% Margin % 29.3% 23.6% 25.1% Q4
Slide 10: Building the strongest platform in the core Australian market
Building the strongest platform in the core Australian market Attune’s integrated medical model perfectly complements NHC retail business ational Hearing Care an amplifon brand Australia’s largest private retail player Classic consumer hearing care retail business model ~320 points of sale 4) © Ampl
Slide 11: Q4 2019 Financial results
Q4 2019 Financial results Very strong improvement in all recurring P&L lines, with Net Profit recurring and EPS Adjusted up, respectively, ~+18% and ~+20% Data in €m Q4 2019 w/IFRSI6 Q4 2019 w/o IFRSI6 Q4 2018 w/o IFRSI6 A% Rec. w/o (unless specified) Recurring Reported Recurring Reported Recurring
Slide 12: FY 2019 Financial results
FY 2019 Financial results Delivering excellent results in all P&L items; Net Profit recurring ~+24% and EPS Adjusted ~+30% bata iném FY 2019 w/IFRSI6 FY 2019 w/o IFRSI6 FY 2018 w/o IFRSI6 A% Rec. w/o (unless specified) Recurring Reported Recurring Reported Recurring _ Reported IFRSIG6 REVENUES 17321
Slide 13: FY 2019 Financial results
FY 2019 Financial results Strong cash flow generation: Operating Cash Flow recurring & Free Cash Flow recurring up, respectively, +34.I% and +45.2% vs FY 2018 Data in €m FY 2019! FY 2018? A Operating cash flow before repayment of lease liabilities 319.8 186.5 133.3 Repayment of lease liabilities (81
Slide 14: FY 2019 Financial results
FY 2019 Financial results Net Debt/EBITDA further reducing to 1.90x Data in €m 31/12/2019 31/12/2018! Cash (I38.4) (89.9) Short-term debt 172.4 53.1 Medium/long-term debt 752.6 877.7 Net financial debt 786.7 840.9 Lease liabilities 424.6 - Total financial debt & lease liabilities 120.3 840.9 Total n
Slide 15: 2020 Outlook
2020 Outlook The current uncertainty related to potential social and economic effects from the Covid-I9 makes premature today to assess any potential impact for the next few months So far, the impact on the business has been very minimal and January and February have been strong Medium/Long-term mar
Slide 16: Investor Relations Contacts
Investor Relations Contacts FRANCESCA RAMBAUDI AMANDA HART GIRALDI OLGA LEPECHKINA Director Specialist Assistant Tel: +39 02 5747 2261 Tel: +39 02 5747 2317 Tel: +39 02 5747 2542 iK ri i Mi amanda.giraldi@amplifon.com olga.lepechkina@amplifon.com amplifon