Slide 1: 1Q23 Results Presentation
This content is classified as Internal 1Q23 Results Presentation May 11th, 2023
Slide 2: Disclaimer
This content is classified as Internal Disclaimer ▪ This Presentation may contain written and oral “forward-looking statements”, which includes all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-looking statements rely on
Slide 3: Key messages
This content is classified as Internal Key messages Double-digit volume growth Strong financial performance, Continued progress in creating in 1Q23 across all geographies with solid margin expansion the European PayTech leader ▪ Sustained double-digit volume growth ▪ Revenue growth at +9.0% vs 1Q22
Slide 4: Double-digit volume growth in 1Q23 across all geographies
This content is classified as Internal Trend vs prev. Year Double-digit volume growth in 1Q23 across all geographies High impact consumption Basic consumption Discretionary consumption Total Net of discontinued clients due to optimised risk profile 44% --- Italian Cards --- Foreign Cards ITALY 80 76
Slide 5: Focus on 1Q23 results
This content is classified as Internal Focus on 1Q23 results
Slide 6: Strong Revenue and EBITDA growth with continued margin expansion
This content is classified as Internal Strong Revenue and EBITDA growth, also supported by January easier comparison, with continued Margin expansion Net Net Revenues Revenues (€M) (€M) EBITDA (€M) +11.0% Y/Y EBITDA margin 43% 45% Gross of scheme fees + 183 bps +9.0% 741.7 680.2 +13.6% 335.7 295.4 1
Slide 7: Merchant Solutions: double-digit revenue growth in 1Q23
This content is classified as Internal Merchant Solutions: double-digit revenue growth in 1Q23 supported by strong volumes and installed base expansion Net Revenues (€M) Managed Transactions (#M) Key Highlights +14.0% Y/Y International +20.2% ▪ Sustained growth in value of 56%1 Gross of scheme fees
Slide 8: Issuing Solutions: strong revenue growth supported by volumes
This content is classified as Internal Issuing Solutions: strong revenue growth supported by volumes and strategic initiatives Net Revenues (€M) Managed Transactions (#M) Key Highlights 33%1 International Schemes +17.4% ▪ Double-digit revenue growth in Italy and mid-single-digit growth in the +14.1%
Slide 9: Digital Banking Solutions: revenue performance in 1Q23
This content is classified as Internal Digital Banking Solutions: revenue performance in 1Q23 supported by volume growth despite impacts from banking consolidation occurred last year Net Revenues (€M) Key Highlights ▪ 1Q23 revenues flat y/y with strong volume growth broadly offset by 11%1 impacts fr
Slide 10: Strong revenue performance across geographies in 1Q23
This content is classified as Internal Strong revenue performance across geographies in 1Q23 58%1 Italy 19%1 Nordics2 +11.8% Y/Y +7.5% Y/Y Gross of scheme fees Gross of scheme fees +9.5% 431.9 394.3 +7.7% 131.7 141.8 1Q22 1Q23 1Q22 1Q23 10%1 13%1 DACH & Poland SE Europe & Other +13.1% Y/Y +10.7% Y/Y
Slide 11: Cost evolution driven by business growth, people investments and inflation
This content is classified as Internal Cost evolution driven by business growth, people investments in key strategic areas and inflation Total Costs (€M) Key Highlights Personnel Costs Operating Costs ▪ 1Q23 increase y/y as planned due to volume and business growth and +9.4% Y/Y Gross of scheme fees
Slide 12: Net Financial Debt / EBITDA in line with plan
This content is classified as Internal Net Financial Debt / EBITDA in line with plan, at ˜2.9x including run-rate synergies Net Financial Debt (€M) Key Highlights ▪ Upgrade to “BB+” (positive outlook) by S&P’s, Mar 22 June 22 Sept 22 Dec 22 Mar 23 the 4th positive rating action since Jan ’22, on the
Slide 13: Closing remarks
This content is classified as Internal Closing remarks
Slide 14: 2023 Guidance confirmed, consistent with CMD ambition
This content is classified as Internal 2023 Guidance confirmed, consistent with CMD medium-term growth ambition Net ▪ More than 7% y/y growth Revenues EBITDA ▪ More than 10% y/y growth Excess cash ▪ At least 600 €M2 generated1 Net ▪ ~2.9x EBITDA (~2.6x EBITDA incl. run rate synergies) leverage3 Norm
Slide 15: Key messages
This content is classified as Internal Key messages Double-digit volume growth Strong financial performance, Continued progress in creating in 1Q23 across all geographies with solid margin expansion the European PayTech leader ▪ Sustained double-digit volume growth ▪ Revenue growth at +9.0% vs 1Q22
Slide 16: Q&A
This content is classified as Internal Q&A
Slide 17: Annex
This content is classified as Internal Annex
Slide 18: Group P&L
This content is classified as Internal Group P&L Revenues gross of scheme fees, Group P&L shifted to Opex 1Q23 M&A Δ% vs. For illustrative purpose only Δ% vs. FX impact 1Q232 1Q222 1Q23 Reported impact1 1Q22 1Q22 €M €M Merchant Solutions 401.7 6.0 4.8 412.5 370.1 11.5% Merchant Solutions 514.5 +14.0
Slide 19: Debt maturities as at 1Q23
This content is classified as Internal Debt maturities as at 1Q23 Nexi Group Debt Maturity Schedule1 (€M) Senior Notes Term Loans 1,976 Convertible Notes 1,050 1,400 900 756 1,000 1,050 926 696 507 500 60 2023 2024 2025 2026 2027 2028 2029 Note: (1) Expressed at nominal value, excludes the other M/L
Slide 20: Well diversified revenue base by business and geography
This content is classified as Internal Well diversified revenue base both in terms of business and geography at scale, with exposure to fast growing European markets 1Q23 Revenues breakdown 1Q23 Costs breakdown by type By business By geography By type Merchant Solutions Installed based Italy Nordics
Slide 21: 2021-2025 CMD Guidance (organic basis)
This content is classified as Internal 2021-2025 CMD Guidance (organic basis) Net ▪ ⁓9% CAGR Revenues EBITDA ▪ ⁓14% CAGR EBITDA margin ▪ ⁓+900 bps 2021-2025 Excess cash ▪ ⁓2.8 €B 2023-2025 generated1 Net leverage ▪ ~1.0x - 1.5x EBITDA by 2025 on organic basis Normalised ▪ ⁓20% CAGR EPS2 Note: (1) Op
Slide 22: Investor Relations
This content is classified as Internal Investor Relations investor.relations@nexigroup.com Stefania Mantegazza stefania.mantegazza@nexigroup.com