Gpi Spa · MIL:GPI
Gpi Spa — FY2021 Earnings Presentation
16 slides from Gpi Spa's earnings presentation, Mar 30, 2022
Slide 1: Conference Call FY21
CONFERENCE CALL FY21 30 March 2022
Slide 2: Sustainability and the Health Care Market
Sustainability and the Health Care Market DIGITAL Increasing Health Spending TRANSFORMATION • Demographic factors (population ageing) • Redesign processes • Citizens and patient expectations • New technologies and treatments • Prevention and control of NCDs Chronic diseases befall the world at large
Slide 3: A History of Steady Growth
+ 30.6% + 20.6% 326.9 YoY YoY EXPORT 9.6% 271.0 a 70% History of Steady Recurring fees Growth ITALY 90.4% H Public 49.8 81.3% 40.2 7,217 Employees 2,700 Clients 70 Countries > € 120 M M&A deals in the last 5 years 6.2% H Private FY 20 FY 21 FY 20 FY 21 6.70% Revenue €M EBITDA €M NFP € 155.4 M 5.80%
Slide 4: Strategic Business Areas
Segmentation FY21 TECHNOLOGIES Strategic TECHNOLOGIES 49.2% 82.4% Software 36.0% Business Software 66.3% Pay 3.4% Areas Pay 7.7% Automation 4.3% ICT 5.5% Automation 5.6% ICT 2.8% Care 50.8% Care 17.6% SERVICES SERVICES 50.8% 17.6% Revenue EBITDA Integrate the value of Persons with the value of Techn
Slide 5: Highlights FY21 M&As - Blood Bank
Highlights FY21 M&As - Blood Bank • Proceeds from exercise of warrants € 22.3 M Haemonetics operation Funding M&As $ 11.3 M Rev. |35% EBITDA 100 clients in the USA (2020) • CERVED confirmes rating at A3.1 A- S&P |A3 Moody’s | A-1 Fitch equivalent Medinfo Group € 3.9 M Rev. | 36% EBITDA • 147 Bids |
Slide 6: Solid Growth FY21
Solid Growth FY21 Revenue € 326.9 M +20.6% | 16.2% organic €M FY21 FY20 thanks to the contribution of the SBAs: • SW € 117.6M +14.6% Revenue & other income 326.9 271.0 • Care €166.2 M +25.4% Adjusted Revenue(1) 298.1 250.9 • Other € 43.1 M +20.1% EBITDA 49.8 40.2 EBITDA: € 49.8 M | 16.7% on adj. Rev
Slide 7: Financial Highlights FY21
Financial Highlights FY21 A3.1 CERVED Rating A- S&P |A3 Moody’s | A-1 Fitch equivalent Non-current assets €M FY21 FY20 The increase in Non-current is linked to the investments, Restated including the acquisition of Medinfo Non-current assets 166.8 158.4 Net Working Capital The increase is due to the
Slide 8: Net Debt
Net Debt Financial Net Debt Investments ass./liab. (M&A) 16.1 According to New ESMA Net Dividend & 34.5 Net Debt Guideline No. 39, issued Net Debt Capex (tang.) interests warrants 31/12/2021 on March 4th 2021 31/12/2020 Capex 5.5 14.3 155.4 restated EBITDA 6.4 49.8 (intang.) 144.5 14.3 NWC & other T
Slide 9: Software FY21
Software FY21 2° player ITA +15.5% 116.8 1-3 years Average contract length 49% 101.1 50% tenders win-ratio Recurring fees 89% Retention 28.3% Clinical 27.0% 14.5% Health ERP 32.1% 9.1% Blood MS 33.0 HR/PA 13.2% 27.3 BI & Data Analytics 12.0% 90.8 19.1% Other 22.3* Revenues by Business Unit Adj. Reve
Slide 10: Care FY21
Care FY21 +25.4% 138.2 1° player ITA 4-6 years Average contract length 113.9 91% 45% tenders win-ratio 97% Retention Recurring fees 1.7% 6.5% 6.4% AtC - administr. svc. & other Virtual Care 8.8 90.8 7.4 98.3% 22.3* Revenues by Business Unit Adj. Revenue €M % on total SBA’s revenue Net of Temporary C
Slide 11: Other SBAs
Other SBAs Revenue €M Δ +20% 43.1 Automation 35.8 Automated warehouse sales, maintenance and service fees 14.0 Automation 11.9 • Retail Pharmacies 11.3 • Hospital Pharmacies Pay 9.0 • Wholesaler and other industries 14.9 17.8 ICT Pay 2020 2021 ePayment services POS rental and related software • Larg
Slide 12: M&A Guidelines
M&A Guidelines (cTe)|
Slide 13: Historic M&A process
established in October e Historic M&A process ACQUIRED Spid (16%) Selfin health) INCREASED HOLDING IN Sysline (70%) ESTABLISHED CRG ‘MADO ACQUIRED & CONSOLIDATED Logicast (100%) area (100%) Argentea (100%) ACQUIRED Sysline(65%) ESTABLISHED Selfin.it ACQUIRED GCS (health) ACQUIRED imtac (23%) CONSOLI
Slide 14: M&A Guidelines: Become a Major European Player
M&A Guidelines Become a Major European Player • Structured software Product Portfolio companies Evolution software|services| • Product Portfolio Evolution territories Blood Management System Software TARGET 3 Jan 2022 - LOI acquisition of TESI Group LIS | RIS/PACS | Blood Italy, Mexico, Brazil FY20
Slide 15: Investment Attractiveness
Investment Attractiveness SHAREHOLDING STRUCTURE Leadership and Uniqueness GPI IN THE STOCK MARKET ISIN: IT0005221517 Treasury shares FM srl Ticker: GPI:IM 0.56% 57.31% Price 28 March 2022 € 13.65 Growth and Visibility Ordinary Shares 18,260,496 Capitalisation € M 249 Technology and Service ANALYSTS
Slide 16: Disclaimer
Disclaimer The material in this presentation was prepared by GPI S.p.A. ("GPI” or the “Company”) without any paragraph 2, letters a) to d) of the Order; and (C) other persons to whom this presentation can be form of independent verification; it is general, basic information about the current busines