Slide 1: GVS SPA
GVS SPA 06.09.2022
Slide 2: Agenda
Agenda 1 YTD Jun 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 Jun 2022 GVS Performance Highlights
YTD Jun 2022 GVS Performance Highlights Sales: 166,6 M€ +17% on the normalized (net Disp. Mask) H1 2021 and +14% on H2 2021. • HC&LS positive trend with +2% on H1 2021 and +11% on H2 2021. • E&M stable on the H1 2021 and with a +23% on the H2 2021. • H&S +273% on the H1 2021, due to the RPB addition
Slide 4: YTD Jun 2022 Evolution of Sales
YTD Jun 2022 Evolution of Sales TOTAL Normalized SALES YTD Jun 2022: 166,6 M€ +14% vs H2 2021 and +17% vs H1 2021 The Healthcare & Lifesciences division is growing on H1 2021 (+2%) and more on the H2 2021 absorbing the slow down of the Air&Gas business with the Liquid business growth due to the orga
Slide 5: YTD Jun 2022 Evolution of Main Financials
YTD Jun 2022 Evolution of Main Financials • H1 2022 impacted by the addition of RPB acquisition, STT acquisition (4 months) and half month of Haemotronic acquisition. • H2 2021 impacted by the addition of RPB acquisition (4 months) and a residual part of the Covid related extraordinary sales • H1 20
Slide 6: Key Financial Highlights — EBITDA and EBIT
Key Financial Highlights — EBITDA and EBIT ADJUSTED EBITDA1 (€M) KEY COMMENTS % on Adjusted EBITDA: Normalized Sales • H1 2022 adjusted EBITDA slightely improved vs the H2 2021 due to: • Positive management of price increase and improvement of variable cost incidence, as a reference H1 2021 had the
Slide 7: 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 Normalized % EBT Sales ADJUSTED GROUP NET INCOME1 (€M) KEY COMMENTS % on Normalized • Net Financial expenses at 1,2 M€ in H1 2022, increasing Sales compared with the H1 2021 due
Slide 8: Key Financial Highlights — CapEx, TWC and R&D
Key Financial Highlights — CapEx, TWC and R&D CAPEX1 (€M) TRADE WORKING CAPITAL (€M) % on Normalized % on LTM Sales Sales R&D2 (€M) KEY COMMENTS % on Normalized • About 9 M€ as Capex, excluding 3,7 M€ of one off capex due to Sales the new plant in China and extraordinary activities for M&A, with a t
Slide 9: 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% 78,0% On Proforma Basis Expected Full Year value at 31/12/22 < 3,5x KEY COMMENTS NFP increased up to 396M€ due to the concentration of the last three acquis
Slide 10: Key Financial Highlights — Net Financial Position
Key Financial Highlights — Net Financial Position NET FIN. INDEBTEDNESS (€M) BRIDGE 2021 VS 2020 KEY COMMENTS NFP has increased due to the last HT acquisition up to 395,9 M€: • STT Acquisition 60,8M€ cash + 7,7 M€ as NPV of future earn-out. HT Acquisition 207M€ Cash + 28,4 as NPV of future earn-out.
Slide 11: Visibility on Future Performance and H2 Focus
VISIBILITY ON FUTURE PERFORMANCE AND H2 FOCUS GVS is on track with the long term vision. The stand alone forecasts confirm the 2022 expectations with a level near to the one reached in 2021, with a slight growth in sales and a diluition in terms of EBITDA margin. Three main topics under focus for th
Slide 12: Agenda
Agenda 1 YTD Dec 2021 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 13: Company Presentation: The Only Way to Say Filtration
COMPANY PRESENTATION Healthcare & Life Sciences Health & Safety Energy & Mobility THE ONLY WAY TO SAY FILTRATION
Slide 14: 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 15: 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 16: GVS provides advanced filtration solution for critical applications
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 17: 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 18: 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 19: 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 20: GVS evolved 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 21: 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 22: 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 23: 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 24: Divisions differentiate for an integrated and 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 25: Success based on 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 26: 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 27: 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 28: 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 29: 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 30: Agenda
Agenda 1 YTD Sep 2021 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 31: Key Financial Highlights — Income Statement
Key Financial Highlights — Income Statement H1 2022 (€m) YTD Jun 2021A H2 2021A YTD Jun 2022A YoY Var. % Var. % H1 22 vs H2 21 Healthcare & Life Sciences 94,1 86,2 95,5 1,5% 10,8% Energy & Mobility 39,0 31,7 38,9 -0,3% 22,7% Health & Safety 8,6 27,6 32,2 274,4% 16,7% Norm alized Revenues 141,7 145,5
Slide 32: Key Financial Highlights — Adjustments Overview
Key Financial Highlights — Adjustments Overview YTD Giu YTD Giu H1 2022 (€m) 2021A 2022A EBITDA 71,5 36,5 Capital gains from sale processes and leaseback (2,2) Start-up costs Write-off of tax receivables Personnel reorganization costs Non recurring Provisions to restructuring fund 1,4 costs (income)
Slide 33: Key Financial Highlights — Balance Sheet
Key Financial Highlights — Balance Sheet H1 2022 (€m) 2021 YTD Giu 2022A Property Plant & Equipment 77,6 106,9 Intangible Assets 227,7 495,7 Right of use 10,4 20,9 Financial Fixed Assets 1,3 4,8 Net Fixed Assets 317,1 628,3 Inventories 72,4 113,6 Trade Receivables 53,0 73,4 Trade Payables (23,8) (48
Slide 34: Key Financial Highlights — Cash Flow Statement
Key Financial Highlights — Cash Flow Statement H1 2022 (€m) 2021 YTD Jun 2022A Earning Before Tax 89,8 42,5 D&A 23,5 15,8 Others (3,7) (18,2) Operative Cash Flow 109,6 40,0 Δ Trade Working Capital (20,6) (7,8) Δ Other Current Liabilities (33,6) (4,1) Operating Cash Flow 55,4 28,1 Ordinary Capex (23,
Slide 35: 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 36: 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