Gpi Spa · MIL:GPI
Gpi Spa — Investor Presentation (December 2021)
33 slides from Gpi Spa's investor presentation, December 2021
Slide 1: Investor Presentation December 2021
INVESTOR PRESENTATION DECEMBER 2021
Slide 2: Sustainability and the Health Care Market
Sustainability and the Health Care Market DIGITAL TRANSFORMATION Population ageing • Redesign processes • around 1/3 over 60 yo (Italy) • general trend • Prevention and control of NCDs Chronic diseases (NCDs1) befall the world at large • increasing prevalence of (multiple) chronic conditions • Integ
Slide 3: Your Global Partner for a Better Future
> 30 years of experience, management History of Your Global Partner Growth team with a track record of internal growth and M&As for a Better Future International footprint solutions used by 2,500 customers in more than 70 countries We develop software, technologies and services to help innovating th
Slide 4: History of Steady Growth
> 315 2013 Orizzonte fund providing equity financing First minibond issued. 271.0 a 2016 merger between GPI and the SPAC CFP1. 240.9 History of Joining the stock market AIM Italia. 203.7 Steady Growth 2018 graduated from AIM FY +29.6% to MTA main market of Borsa Italiana. 151,8 YoY > € 100 M M&A dea
Slide 5: Strategic Business Areas
Strategic Business Areas % revenue by SBA out of total revenue in FY 2020 TECHNOLOGIES 51.1% Pay 3.3% Automation 4.4% ICT 5.5% Software 37.9% SERVICES 48.9% Care
Slide 6: Supply Lines
Supply Lines • hospital information system • health social care • blood transfusion & tissue bank Software • health administration • Business Intelligence, data analytics main SBAs • other 86.8% of total revenue • BPO health care administrative svc. (AtC,..) • telemedicine Care • other • automated p
Slide 7: Segmentation H1 2021
Segmentation H1 2021 Revenue by EBITDA by Revenue by Revenue by Strategic Business Area Strategic Business Area Geographic area Client type* 6.4% 4.4% 12.9% 17.5% 10.3% 34.2% 6.9% 14.3% 68.3% 52.9% 82.3% 89.7% Software Care Other Software Care Other Italy Export H-Pub H-Pri NH-Pri NH-Pub *FY 2020 da
Slide 8: Highlights
1H2021 FY2020 • Contracts awarded as at 30 June 2021 € 79 M • Oslo Italia (Business Intelligence Health Care SW, Big Data & Win ratio 48% Analytics) | € 4.3 M Rev. | 30% EBITDA • Contract awarded Region Lazio • Umana Medical Technologies, Malta start up - innovative Multichannel mgmt svc Servizio Re
Slide 9: Actual Projects
Actual Projects Real answers to Covid- 19: concretely implementing the Group’s vision Virtual Care Vaccination programme Drive-in Swabs Region Lombardia Region Valle d’Aosta Region Lazio Telemedicine Software, Artificial Intelligence, Software solutions and devices wearables, technological and consu
Slide 10: Solid Growth H1 2021
Solid Growth H1 2021 Revenue +29.6% (22% organic) EBITDA +35.2% €M H1 2021 H1 2020 Revenue € 151.8 M thanks to the contribution of: Revenue & other income 151.8 117.2 • SW € 51.9 M +25.0% 8.2% Org. • Care € 80.3 M +31.7% 31.1% Org. Adjusted Revenue(1) 138.1 108.1 • Other € 19.6 M +33.7% 23.4% Org. E
Slide 11: Financial Highlights H1 2021
Financial Highlights H1 2021 A3.1 CERVED Rating A- S&P |A3 Moody’s | A-1 Fitch equivalent €M H1 2021 FY 2020 Restated Net working capital 126.2 109.1 Non-current assets 167.7 158.4 Other operating assets/(liabilities) (72.6) (59.2) NET INVESTED CAPITAL 221.6 208.2 Shareholders’ equity 73.5 83.4 Net
Slide 12: Software
Software 2° player ITA * 42% Recurring fees* 1-3 years Average contract length 30% Tenders win-ratio* Δ +25.0% 101.1 89.1 27.0% 25.3% 32.2% FY HY Δ +13.6% 24.8% 27.3 7.4% 51.5 FY HY 18.7% 8.7% 22.1 13.9% 41.1 12.5% 17.8% 9.7 Clinical Health ERP 7.3 90.8 Blood MS HR 90.3 Business Intelligence Other 2
Slide 13: Care
Care 1° player ITA * 81% Recurring fees* 4-6 years Average contract length Δ +9.3% 37% Tenders win-ratio* 113.9 104.2 4.7% 1.3% Δ +31.7% FY HY 67.0 52.4 FY 6.1% 6.5% HY 94.0% 7.4 6.4 3.2% 3.0% AtC - administr. svc. Telemedicine 1.7 2.0 90.8 90.3 Other 22.3* Adj. Revenue €M EBITDA €M Revenues by Segm
Slide 14: Other SBAs
Other SBAs AUTOMATION Automated warehouse sales, maintenance and service fees FY HY • Retail Pharmacies • Hospital Pharmacies Δ +19.4% • Wholesaler and other industries 35.9 30.0 12.0 PAY 11.5 Automation Δ +33.7% ePayment services POS rental and related software 9.0 19.6 FY HY Pay 14.7 5.3 Automatio
Slide 15: Competitive environment and strategic guidelines
Competitive environment and strategic guidelines
Slide 16: Market Assessment Software and IT Services
Market Assessment Software and IT Services Source: Gartner Hospital + Physician survey (2021 Q2) value of the Global market for health care software + IT services in 2020 $67.7 B +7.3% 2020 on 2019 CAGR 20 – 24: 12.3% 50.5% North America CAGR 20 – 24: 12.0% 24.8% Western Europe CAGR 20 – 24: 11.0% $
Slide 17: IT Market 2018 – 2024 (Italy)
IT Market 2018 – 2024 (Italy) Source:Netconsulting Cube (June 2021 Q2) - data in € M, % TOTAL € 1,346.3 M CAGR 20-24 6.8% SW + Svc . € 1,091.3 M CAGR 20-24 6.9% 17
Slide 18: Competitive Ranking
Competitive Ranking Top Players in Italy Software BPO AtC Focus on Company Brief description HC Ranking >>29 28MMcitizens cittadinireached serviti ICT solutions and related services for public and private healthcare providers. 1st Company Brief description Ranking ICT solutions, administrative and
Slide 19: International Growth +101%
Footprint in 70 International Growth +101% Countries Export 10.3% of Total Revenue (6.6% H1 2020) Offices in 11 Countries Blood Management System Gpi is globally ranking among Top 5 providers Pro-forma earnings > € 20 M BMS strategic software for the Health Systems of all Countries
Slide 20: The Pillars
The 5 Pillars Strategic intentions 2020-2024 01 02 03 04 05 EVER PRIVATE MARKET INTEGRATED FROM HEALTH LEADERSHIP SOLUTIONS PROVIDER MORE CARE in ITALY TO PARTNER GLOBAL Strong increase Doubling up of Major regional and Greater integration Multi-business over the BP the Private HC national tenders o
Slide 21: Economic–Financial Targets Update for 2024
Economic–Financial Targets Update for 2024 New targets estimated by equal scope of consolidation as of 31/12/2020 Previous Targets Updated Targets > € 295 M REVENUE > € 330 M CAGR 19-24 > 4% CAGR 20-24 > 5% >15.0% EBITDA MARGIN >16.5% ≤ 1xEBITDA NET DEBT ≤ 1xEBITDA
Slide 22: M&A Guidelines
M&A Guidelines
Slide 23: Historic M&A process
established in October e Historic M&A process ACQUIRED Spid (16%) Selfin health) INCREASED HOLDING IN Sysline (70%) ESTABLISHED CRG ‘MADO ACQUIRED & CONSOLIDATED Logicast (100%) area (100%) Argentea (100%) ACQUIRED Sysline(65%) ESTABLISHED Selfin.it ACQUIRED GCS (health) ACQUIRED imtac (23%) CONSOLI
Slide 24: M&A Guidelines
M&A Guidelines Become a Major European Player TARGET • Product Portfolio • Structured software Evolution companies software|services| • Product Portfolio territories Evolution Blood Management System Software
Slide 25: M&A Guidelines
M&A Guidelines FUNDING SOURCES • EXERCISED WARRANTS € 22.3 M • BOND • DEBT FINANCING
Slide 26: Investment Attractiveness
Investment Attractiveness Leadership and Uniqueness GPI IN THE STOCK MARKET ISIN: IT0005221517 Ticker: GPI:IM Price 29 Nov 2021 € 13.30 Growth and Visibility Ordinary Shares 18,260,496 Capitalisation € M 243 Technology and Service ANALYSTS’ COVERAGE – Target price SHAREHOLDING STRUCTURE Banca Akros
Slide 27: A New Architecture of Integrated Solutions
A New Architecture of Integrated Solutions Threshold Value and alert Structured interaction with patients Monitoring Dashboard Proactivity and Care IoT – Sensors – specific Apps Intelligent Cloud Management Monitored data flow Direct interaction with patients
Slide 28: BPC - Business Package Capabilities
BPC - Business Package Capabilities POHEMA components <#@ POHEMA/APP <#@ POHEMA/TECH W POHEMA/CARE GAIA Population analysis and stratification TAKE CARE Individual assistance plan management system PHEBO Telemedicine and Telemonitoring Platform DOC-AVC Remote visit and consultation software PATIENT
Slide 29: POHEMA
POHEMA Micro-Services Architecture
Slide 30: Vein-to-Vein Process
Blood Donor Centers Hospitals «VEIN-TO-VEIN» PROCESS
Slide 31: Global Competitors
ranks 5th on the global market pro-forma revenue ca $ 26 M - 48% gross margin France USA USA USA GLOBAL Italy USA USA COMPETITORS Australia USA Germany USA China China China USA
Slide 32: IR Contact details
IR Contact details Via Ragazzi del '99, 13 - 38123 Trento T +39 0461 381515 investor.relations@gpi.it Fabrizio Redavid Lorenzo Giollo C. +39 335 1035499 C. +39 340 8223333 fabrizio.redavid@gpi.it lorenzo.giollo@gpi.it - Maggio 2018
Slide 33: Disclaimer
Disclaimer The material in this presentation was prepared by GPI S.p.A. ("GPI” or the “Company”) without any paragraph 2, letters a) to d) of the Order; and (C) other persons to whom this presentation can be form of independent verification; it is general, basic information about the current busines