Slide 1: 9M 2024 Results
9M 2024 Results Ended September 30th 2024 Milan – November 8th 2024
Slide 2: Agenda
Agenda 1 Highlights and Updates 2 Financial Results J. Mastragostino | Chief Investor Relations Officer O. Pozzi | Group Chief Financial Officer 3 Business Units Deep Dive 4 Closing Remarks + Q&A O. Pozzi | Group Chief Financial Officer J. Mastragostino | Chief Investor Relations Officer
Slide 3: Highlights and Updates
1 Highlights and Updates J. Mastragostino | Chief Investor Relations Officer
Slide 4: Key data
Key data REVENUES € 305.7 M EBITDA Adjusted € 56.1 M (- 1% vs PY) EBITDA EBIT Adjusted + 13% vs PY € 45.5 M € 32.5 M NET PROFIT € 3.0 M NET PROFIT Adj. FCF Adj. NFP € 19.7 M € 38.1 M € 305.6 M Results at 30/09/2024 vs € 102 M in FY2023 4
Slide 5: 9M 2024: Achieved strong 3Q results; Pick-up expected in 4Q
Highlights and Updates 9M 2024: Achieved strong 3Q results; Pick-up expected in 4Q 9M 2024 Results1: • Revenues at € 305.7M in 9M’24 (+ 13.4% vs PY) • EBITDA Adjusted at € 56.1M in 9M’24 (- 1.5% vs PY) mainly impacted by ABF’s lack of expected contribution combined with temporary effects related to
Slide 6: Overview 3Q 2024
Highlights and Updates Steady growth in Group Revenues (+ 18.0% Overview 3Q 20241 vs PY) and EBITDA Adj. (+ 13.8% vs PY) €M Group Digital Trust Digital Trust EBITDA Adj. Margin reaching Margin Margin Margin Margin historical high 102.7 21.8% 21.0% 48.5 30.4% 31.6% Cybersecurity EBITDA Adj. growing h
Slide 7: 9M 2024 Results
Highlights and Updates 9M 2024 Results 9M 2024 results show Revenues for 305.7 million euros, EBITDA Adj. for 56.1 million euros and Net €M Profit for 3.0 million euros Double-digit growth in Revenues (+ 13.4%), with substantially flat EBITDA Adjusted (- 1.5%) EBITDA Adjusted at 56.1 million euros E
Slide 8: Financial Results
2 Financial Results O. Pozzi | Group Chief Financial Officer
Slide 9: 3Q 2024 Results – Income Statement
Financial Results 3Q 2024 Results – Income Statement 3Q 2024 with Acquisitions LFL2023 €M 3Q’24 % 3Q’23 % % on 2023 Δ Δ% Δ Δ% Revenues 102.7 100.0% 87.1 100.0% 91.0 100.0% 15.6 18.0% 4.0 4.5% Total Operating Costs -81.1 -79.0% -68.1 -78.2% -70.4 -77.3% -13.0 19.1% -2.3 3.4% Service & Other Costs -38
Slide 10: 9M 2024 Results – Income Statement
Financial Results 9M 2024 Results – Income Statement 9M 2024 with Acquisitions LFL2023 €M 9M’24 % 9M’23 % % on 2023 Δ Δ% Δ Δ% Revenues 305.7 100.0% 269.5 100.0% 277.4 100.0% 36.2 13.4% 7.8 2.9% Total Operating Costs -249.7 -81.7% -212.6 -78.9% -224.3 -80.9% -37.0 17.4% -11.6 5.5% Service & Other Cos
Slide 11: 9M 2024 Results – Having a clear view on P&L Adjustments
Financial Results 9M 2024 Results – Having a clear view on P&L Adjustments EBITDA Operating profit Net profit from continuing operations €M 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 Reported income statement results 45.5 51.1 7.4 21.4 3.0 12.2 Non-recurring service costs 4.3 2.0 4.3 2.0 4.3 2.
Slide 12: 9M 2024 Results – Balance Sheet
Financial Results 9M 2024 Results – Balance Sheet Net invested capital increased by € 190.4 million vs FY’23 mainly due to: €M 747.4 • Acquisitions: ABF (€ 134.0 million); DTH (€ 45.0 million); Lenovys (€ Net 17.4 million); Warrant Funding Project and Camerfirma Colombia (€ 2.0 Invested 557.0 + 34.2
Slide 13: 9M 2024 Results – NFP & FCF
Financial Results 9M 2024 Results – NFP & FCF €M NFP Adjusted FCF of continuing ops 305.6 Main Changes in 9M 2024: 40.3 38.1 2.8 • - € 6.9M PUT Options 12.4 • + € 4.5M Treasury Shares • - € 184.3M Acquisitions 37.4 102.0 • - € 6.5M Adjustments to leasing contracts 25.7 • - € 3.9M OCI hedging Derivat
Slide 14: 9M 2024 Results – NFP Bridge
Financial Results 9M 2024 Results – NFP Bridge + € 184.3M Acquisitions €M + € 6.9M PUT Options 12.4 305.6 191.2 3.9 1.6 - 3.6 - 4.5 102.0 29.1 6.5 5.1 - 38.1 0.99x NFP/EBITDA1 2.99x (1) Calculated as NFP/LTM EBITDA Adjusted 14
Slide 15: 9M 2024 Results – NFP LTM Bridge
Financial Results 9M 2024 Results – NFP LTM Bridge €M + € 189.9M Acquisitions 305.6 14.2 210.7 0.5 7.0 2.1 + € 20.8M PUT Options - 3.3 - 4.7 91.5 29.1 8.3 5.0 - 54.8 0.94x NFP/EBITDA1 2.99x (1) Calculated as NFP/LTM EBITDA Adjusted 15
Slide 16: Business Units Deep Dive
3 Business Units Deep Dive O. Pozzi | Group Chief Financial Officer
Slide 17: Overview 9M'24
Business Units Deep Dive Digital Trust Cybersecurity Overview 9M’24 150.8 70.7 5.1 9.6 Margin Margin Margin Margin €M 28.9% 29.7% 12.7% 12.0% 141.2 44.8 8.5 130.2 62.7 65.6 2.7 Group 0.7 37.7 42.1 8.0 7.8 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 9M 2023 9M 2024 REVENUES EBITDA Adj. REVENUES E
Slide 18: Digital Trust 9M'24
Business Units Deep Dive Digital Trust 9M’24 150.8 9.6 €M Margin Margin 28.9% 29.7% 141.2 44.8 130.2 2.7 37.7 42.1 9M 2023 9M 2024 9M 2023 9M 2024 REVENUES EBITDA Adj. LFL 2023 Δ Acquisitions • Revenues amounted to 150.8 million euros, up by 15.8% (+ 8.4% on a 2023 basis) of which 7.3% attributable
Slide 19: Cybersecurity 9M'24
Business Units Deep Dive Cybersecurity 9M’24 70.7 5.1 Margin Margin €M 12.7% 12.0% 8.5 62.7 65.6 0.7 8.0 7.8 9M 2023 9M 2024 9M 2023 9M 2024 REVENUES EBITDA Adj. LFL 2023 Δ Acquisitions • Revenues amounted to 70.7 million euros, up 12.6% (+ 4.5% on a 2023 basis) of which 8.1% attributable to the acq
Slide 20: Business Innovation 9M'24
Business Units Deep Dive Business Innovation 9M’24 90.7 13.7 €M Margin Margin 27.5% 17.4% 80.6 77.0 15.8 22.1 16.1 9M 2023 9M 2024 9M 2023 9M 2024 REVENUES EBITDA Adj. LFL 2023 Δ Acquisitions • Revenues amounted to 90.7 million euros (+ 12.6% vs PY) due to the contribution of acquisitions (ABF, Leno
Slide 21: Defence Tech Takeover Bid – Explained
Business Units Deep Dive Defence Tech Takeover Bid – Explained April 2023 June 2024 October 2024 November 2024 STARLIFE c.85% c.15%* 100% TINEXTA DEFENCE S.R.L 100% 40.09% In June 2024: Takeover Bid Closing of Exercise of the call option triggers a takeover bid € 3.80 Mandatory Tender (Public Offer)
Slide 22: Closing Remarks + Q&A
4 Closing Remarks + Q&A J. Mastragostino | Chief Investor Relations Officer
Slide 23: Group's Financial Targets – Explained
Closing Remarks + Q&A Group’s Financial Targets1 – Explained • Guidance has been updated, following the analysis of 9M’24 results and the consolidation of Defence Tech Holding (“DTH”) from August 1st 2024 • As of November 7th 2024 Tinexta Defence holds over 95% of DTH, leading to a successful comple
Slide 24: Disclaimer
Disclaimer This company presentation includes: ➢ forward-looking data based on internal management assumptions that are subject to material changes, including changes due to external factors beyond the Group's control ➢ management data, when presented, are identified as such Business unit data are d
Slide 25: Thanks.
Thanks. Tinexta.com Investor Relations Contacts Tinexta Presentation Piazzale Flaminio, 1/B E-mail info@tinexta.com Josef Mastragostino Download the presentation Roma, 00196, Italia Pec tinexta@legalmail.it Chief Investor Relations Officer Tel. +39.06.42012631 LinkedIn: Tinexta investor@tinexta.com