Cellularline Spa · MIL:CELL
Cellularline Spa — H1 2022 Earnings Presentation
13 slides from Cellularline Spa's earnings presentation, Sep 9, 2022
Slide 1: H1 2022 Financial results
H1 2022 Financial results Reggio Emilia – 09 September 2022
Slide 2: Disclaimer
Disclaimer This document has been prepared for preliminary discussions in relation to Cellularline S.p.A. (the “Company”) and its affiliates (together, the “Group”). This document, the information contained herein, and any information provided at any presentation in connection herewith (the “Materia
Slide 3: H1 2022 Highlights
H1 2022 Highlights Strong momentum in Revenues continues in Q2 (+35,3%), thanks to strong performance both in Italian and International markets Revenues +37.4% YTD, as a results of the strategic initiatives carried out by the management and the restart of mobility. despite of challenging economi
Slide 4: Key financials (€M)
Key financials (€M) Revenues EBITDA Adj. (1) 60,0 (€M) 3,6 (€M) 0,6 3,2 50,0 2,8 40,0 2,4 30,0 2,0 54,0 20,0 39,7 1,6 3,3 1,2 10,0 0,8 1,6 0,0 0,4 H1 2021 H1 2022 0,0 Organic Coverlab H1 2021 H1 2022 Net Result Adj. (1) Net Debt (€M) 0,0 50,0 (€M) (€M) 24,62,3x 49,0 2,3x -0,1 40,0 (0,2) -0,1 30,0 -0
Slide 5: Focus on Revenues
Focus on Revenues Revenues bridge (€M) 60 3,5 -0,1 Red line 9,9 -0,4 79% 50 Product Black line 2,0 Line 8% 40 30 Blue line 54,6 Others 13% 0% 20 39,7 Italy 10 47% International 53% 0 Geo H1 2021 Red line Red line Black line Blue line Other H1 2022 Italy Int. Revenues had a remarkable +37,4% YTD 20
Slide 6: Focus on EBITDA Adj.
Focus on EBITDA Adj. EBITDA Adj. bridge (€M) -0,5% impact on Gross Margin. 2,6% impact on Op.Ex. (% on Revenues)% 8,0 on Revenue -2.6% impact on Adj. Gross Margin(1) +2.0% impact on Adj. Op.Ex. 7,0 6,0 -4,0 5,0 (3,8%) 5,7 4,0 3,0 2,0 3,3 3,3 1,0 1,6 (6,1%) 1,6 (4,0%) 0,0 H1 2021 Gross Margin Op.Ex.
Slide 7: Focus on Net Result Adj.
Focus on Net Result Adj. Net Result Adj. bridge (€M) 2,0 1,5 -0,4 -0,2 -0,1 1,0 (3,8%) 1,7 1,2 0,5 1,0 0,9 -1,2 0,0 -0,2 -0,3 -0,5 Net Result Adj. EBITDA Adj. D&A Net Financials Investments Taxes Net Result Adj. H1 2021 (include FX differences) H1 2022 Net Result Adj. -€0.3M substantially stable i
Slide 8: Focus on Net Debt
Focus on Net Debt Net Debt bridge (€M) (X) Leverage ratio(1) 45,0 -0,2 -1,6 40,0 1,8 3,2 -0,3 -0,1 35,0 40,2 (2,3x) 37,4 (,2,3x) 30,0 0,7x FY 2021 Financial Warrant Oth. IFRS 16 FV Put & Call Cash & Eq. H1 2022 Liabilities Fin. assets Net Debt Net Debt as of 30 June 2022 (€40.2M) increased €2.8M c
Slide 9: Overview on FY 2022
Overview on FY 2022 The Management is fully focused on four main streams: Brand and products: innovation and expansion of the product range, a distinctive element of the Group's DNA, in order to meet the needs of the final consumer by interpreting market trends; Core business: confirmation of
Slide 10: 1. Impairment test on Goodwill
Appendix 1. Impairment test on Goodwill 10
Slide 11: Appendix: Impairment test on Goodwill
Appendix: Impairment test on Goodwill The Group tests Goodwill for impairment annually and whenever there is any indication of loss: • the recoverable amount was determined using the Discounted cash flow method • the Company conducted an analysis on impairment of Goodwill as the Group’s net equity
Slide 12: Q&A session
H1 2022 Financial Results Q&A session % cellularline
Slide 13: IR contact
IR contact Davide Danieli Group Corporate & Financial Officer Alessandro Brizzi IR & Group Finance Manager ir@cellularlinegroup.com www.cellularlinegroup.com Ph: +39 0522 33 40 02 13