Slide 1: FY 2017 Results
FY 2017 Results Milan | March 1st, 2018
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 2017 Key takeaways
FY 2017 Key takeaways Third year in a row of record results ▪ Overall positive market dynamics, growing ~3.5%1 ▪ Outpacing the global hearing aids retail market (>3x market growth) ▪ Leadership consolidation and market share gains in all main countries ▪ Record revenues delivering solid top-line gro
Slide 4: FY 2017 Financial highlights
FY 2017 Financial highlights Record Revenues and EBITDA for third year in a row. All-time high Net Profit at €100m ▪ Strong sales in all Regions Data in €m FY 2017 FY 2016 Δ% ▪ Outstanding performance in EMEA: +14.2%1 REVENUES 1,266.0 1,133.1 +11.7% ▪ Robust momentum in Americas: +8.5%1 Organic grow
Slide 5: Q4 2017 Financial highlights
Q4 2017 Financial highlights An outstanding year-end: excellent organic growth and profitability expansion ▪ Outstanding top-line growth (+13.6%1) Data in €m Q4 2017 Q4 2016 Δ% ▪ Organic growth back at highest levels of +8.4% REVENUES 364.2 329.2 +10.7% ▪ Outpacing market growth of ~+5%2 Organic gro
Slide 6: Revenue roadmap by Region
Revenue roadmap by Region Consistent and above market growth across Regions FY 2017: +12.5%1 Organic growth2: +6.6% Acquisitions: +5.9% FX: -0.8% Q4 2017: +13.6%1 Organic growth2: +8.4% Acquisitions: +5.2% FX: -2.9% AMERICAS EMEA APAC 18.1% of FY 2017 Revenues 67.6% of FY 2017 Revenues 14.1% of FY 2
Slide 7: Financial results by Region: EMEA
Financial results by Region EMEA: outstanding top-line growth along with profitability expansion ▪ Performance well above market reference Data in €m FY 2017 FY2016 Δ% ▪ EMEA market growing ~3.5%1 REVENUES 855.6 753.7 +13.5% ▪ Outstanding revenue growth of +14.2% in LC Organic growth +6.5% ▪ Solid o
Slide 8: Financial results by Region: Americas
Financial results by Region AMERICAS: solid performance and strong profitability improvement ▪ Market share gain in a structurally growing market (+4%1) Data in €m FY 2017 FY 2016 Δ% ▪ Solid revenue growth at +8.5% in LC, driven by effective REVENUES 228.9 214.9 +6.5% execution of Miracle-Ear and AH
Slide 9: Financial results by Region: APAC
Financial results by Region APAC: robust trading performance ▪ Performance well above market reference Data in €m FY 2017 FY 2016 Δ% ▪ Australian market environment contracting by ~2%1, though REVENUES 179.0 162.9 +9.9% steadily improving and back to growth in Q4 Organic growth +7.2% ▪ New Zealand m
Slide 10: Q4 2017 Financial results
Q4 2017 Financial results Delivering excellent results in all P&L items Recurring Reported Data in €m (unless specified) Q4 2017 Q4 2016 Δ% Q4 2017 Q4 2016 Δ% REVENUES 364.2 329.2 +10.7% 364.2 329.2 +10.7% EBITDA1 76.7 67.7 +13.2% 75.6 67.7 +11.6% Margin % 21.1% 20.6% - 20.8% 20.6% D&A2 (17.1) (15.7
Slide 11: FY 2017 Financial results
FY 2017 Financial results Sharp improvement in all profitability lines, leading to Company’s all-time high Net Profit Recurring Reported Data in €m (unless specified) FY 2017 FY 2016 Δ% FY 2017 FY 2016 Δ% REVENUES 1,266.0 1,133.1 +11.7% 1,266.0 1,133.1 +11.7% EBITDA1 217.5 189.4 +14.9% 212.5 186.9 +
Slide 12: FY 2017 Financial results: cash flow
FY 2017 Financial results High cash flow conversion sustained higher investment, primarily for openings & M&A Data in €m FY 20171 FY 20162 Δ Operating cash flow (a) 168.6 143.6 +25.0 Capex (net) (b) (70.7) (61.1) (9.5) Free cash flow (a+b) 98.0 82.5 +15.5 Acquisitions (net) (c) (111.5) (79.3) (32.2)
Slide 13: FY 2017 Financial results: capital structure
FY 2017 Financial results Solid capital structure to sustain future growth opportunities Data in €m 31/12/2017 31/12/2016 Cash (124.1) (183.8) Short-term debt1 301.1 28.7 Medium/long-term debt1 119.3 379.6 Net debt 296.3 224.4 Equity 588.4 557.7 Net debt/EBITDA 1.35x 1.17x Net debt/total equity 0.50
Slide 14: 2018 Outlook
2018 Outlook Entering 2018 with sound optimism ▪ Amplifon’s strong momentum is expected also in 2018 ▪ Key update on Amplifon strategy and growth opportunities as well as on the Company’s financial ambitions for the three-year period 2018-2020 will be provided on March 26th, 2018 at Amplifon’s Capit
Slide 15: Investor Relations Contacts
Investor Relations Contacts FRANCESCA RAMBAUDI PAOLA BEZZI ELISA GUIDOTTI OLGA LEPECHKINA Director Junior specialist Stagiaire Assistant Tel: +39 02 5747 2261 Tel: +39 02 5747 2310 Tel: +39 02 5747 2317 Tel: +39 02 5747 2542 francesca.rambaudi@amplifon.com paola.bezzi@amplifon.com elisa.guidotti@amp