Slide 1: FY2015 Results
FY2015 RESULTS Milan - March 2nd, 2016
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: FY2015 Financial Highlights
FY2015 FINANCIAL HIGHLIGHTS RECORD HIGH REVENUES, EBITDA AND FREE CASH FLOW Data in €m FY2015 FY2014 Δ% REVENUES 1,034.0 890.9 +16.1% Organic growth +8.2% Acquisitions +3.1% FX +4.7% EBITDA RECURRING 167.4 137.7 +21.6% Margin % 16.2% 15.5% • Record revenues thanks to the contribution from all three
Slide 4: FY2015 Key Takeaways
FY2015 KEY TAKEAWAYS OUTPACING THE GLOBAL MARKET • Overall positive market dynamics, growing around 4% in units* • Leadership consolidation and market share gains in all main countries • Growth led by volume increase and stable ASP • Solid organic growth • Effectiveness of new marketing & communicat
Slide 5: 4Q2015 Financial Highlights
4Q2015 FINANCIAL HIGHLIGHTS CONTINUED STRONG MOMENTUM IN TOP-LINE GROWTH Data in €m 4Q2015 4Q2014 Δ% REVENUES 300.2 267.6 +12.2% Organic growth +6.7% Acquisitions +2.8% FX +2.8% EBITDA RECURRING 59.1 54.4 +8.5% Margin % 19.7% 20.3% • Continued revenue growth in 4Q, in line with the trends experience
Slide 6: Revenues Roadmap by Geography
REVENUES ROADMAP BY GEOGRAPHY STRONG MOMENTUM ACROSS ALL THREE REGIONS EMEA (66.5% of FY15 Revenues) FY15: +9.7% in LC YoY Q415: +7.8% in LC QoQ AMERICAS (19.2% of FY15 Revenues) FY15: +18.5% in LC YoY APAC (14.2% of FY15 Revenues) Q415: +18.7% in LC QoQ FY15: +10.7% in LC YoY Q415: +6.8% in LC QoQ
Slide 7: Financial Results by Region: EMEA
FINANCIAL RESULTS BY REGION EMEA: ROBUST PROFITABLE GROWTH • Solid organic growth, further boosted by Data in €m FY2015 FY2014 Δ% acquisitions and FX in Q4 and for FY15 REVENUES 688.1 617.7 +11.4% • European market growing ~1% in units in 2015, due Organic growth +6.3% to market contraction in Germa
Slide 8: Financial Results by Region: Americas
FINANCIAL RESULTS BY REGION AMERICAS: TOP-LINE ACCELERATION AND MARKET SHARE GAINS • Market share gains in a structurally growing market Data in €m FY2015 FY2014 Δ% (+7.8% in units in 2015*) REVENUES 198.5 140.9 +40.8% • Continued strong momentum in 4Q2015, achieving Organic growth +16.4% record rev
Slide 9: Financial Results by Region: APAC
FINANCIAL RESULTS BY REGION APAC: GROWTH & OPERATIONAL EXCELLENCE • Continued positive performance also in Data in €m FY2015 FY2014 Δ% 4Q2015, despite negative FX impact REVENUES 146.9 132.3 +11.0% • Market in Australia and New Zealand growing Organic growth +8.1% ~6% in units in 2015* Acquisitions
Slide 10: FY 2015 Financials
FY 2015 FINANCIALS STRONG FINANCIAL RESULTS Data in €m (unless specified) FY2015 FY2015 FY2014 FY2014 Δ% Recurring Reported Recurring Reported Recurring REVENUES 1,034.0 1,034.0 890.9 890.9 +16.1% EBITDA1 167.4 165.2 137.7 137.7 +21.6% Margin % 16.2% 16.0% 15.5% 15.5% EBIT2 116.1 111.0 90.6 90.6 +28
Slide 11: FY 2015 Cash Flow
FY 2015 CASH FLOW RECORD FREE CASH FLOW PRIMARILY DRIVEN BY PROFITABILITY IMPROVEMENT Data in €m FY2015 FY2014 OPERATING CASH FLOW (A) 128.1 116.1 CAPEX (B) (48.1) (42.9) DISPOSALS (B) 9.7 5.2 FREE CASH FLOW (A+B) 89.7 78.4 ACQUISITIONS (C) (41.1) (35.9) OTHER ACQUISITIONS/DISPOSALS (D) 9.4 (0.1) CA
Slide 12: FY 2015 Balance Sheet
FY 2015 BALANCE SHEET SOLID CAPITAL STRUCTURE TO SUSTAIN FUTURE GROWTH OPPORTUNITIES Data in €m 31/12/2015 31/12/2014 CASH (196.7) (211.1) SHORT-TERM DEBT 19.1 17.1 MEDIUM/LONG-TERM DEBT 382.5 442.5 NET DEBT 204.9 248.4 EQUITY 500.2 443.2 NET DEBT/EBITDA 1.21x 1.77x NET DEBT/TOTAL EQUITY 0.41x 0.56x
Slide 13: Upcoming Events
UPCOMING EVENTS ANALYST & INVESTOR DAY: A KEY EVENT IN COMPANY’S FINANCIAL CALENDAR • March 3rd: Go live of new corporate website • Enhance corporate identity • March 17th: Analyst & Investor Day • Presentation of current business momentum, strategy & growth opportunities • Detailed agenda and webca
Slide 14: Annexes
ANNEXES
Slide 15: FY15 Financial Results: Revenue Breakdown by Country
FY15 FINANCIAL RESULTS REVENUE BREAKDOWN BY COUNTRY Δ% in Data in €m FY 2015 % FY 2014 % Δ% Δ% FX OG % local currency Italy 247.7 24.0% 229.0 25.7% 8.2% 7.6% France 117.9 11.4% 105.9 11.9% 11.4% 5.4% The Netherlands 75.6 7.3% 73.3 8.2% 3.0% 3.0% Germany 64.4 6.2% 55.6 6.2% 15.8% 1.0% United Kingdom
Slide 16: 4Q15 Financial Results: Revenue Breakdown by Country
4Q15 FINANCIAL RESULTS REVENUE BREAKDOWN BY COUNTRY Δ% in Data in €m Q4 2015 % Q4 2014 % Δ% Δ% FX OG % local currency Italy 79.6 26.5% 76.5 28.6% 4.1% 4.1% France 33.7 11.2% 32.3 12.1% 4.3% -1.0% The Netherlands 26.8 8.9% 25.5 9.5% 5.1% 5.1% Germany 18.8 6.2% 14.8 5.5% 27.0% 3.4% United Kingdom 10.0
Slide 17: Investor Relations Contacts
INVESTOR RELATIONS CONTACTS INVESTOR RELATIONS AMPLIFON Via G. Ripamonti. 133 20141 Milano (MI) - Italy Phone: +39 02 5747 21 Fax: +39 02 5730 0033 ir@amplifon.com INVESTOR RELATIONS TEAM FRANCESCA RAMBAUDI AMANDA HART GIRALDI OLGA LEPECHKINA Investor Relations Director Investor Relations Analyst As