Slide 1: Q2 & H1 2023 Results
Q2 & H1 2023 Results M i l a n , J u l y 2 7 th 2 0 2 3
Slide 2: Disclaimer
Disclaimer The following applies to this document, the oral presentation of the information in this document by Amplifon S.p.A. (the “Company”) or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the “Information”). In accessi
Slide 3: Q2 2023: Very strong revenue growth in a softer than expected market
Q2 2023: Very strong revenue growth in a softer than expected market Revenues EBITDA recurring Net Profit recurring 574m€ 153m€ 54.5m€ ~+9% at K FX vs Q2 2022 Margin at 26.6% -4,6% vs Q2 2022 +6.6% organic growth ~+4% vs Q2 2022 Operating Cash Flow Leverage M&A bolt-ons 138m€ 1.57x +140 PoS & ~60m€
Slide 4: Q2 2023 Financial highlights
Q2 2023 Financial highlights Very strong and above market revenue growth in a softer than expected market and with one trading day less; temporary adverse factors affecting profitability Excellent revenue growth of +8.8% at constant FX vs Q2 2022 Data in €m Q2 2023 Q2 2022 Δ% Strong and above ma
Slide 5: H1 2023 Financial highlights
H1 2023 Financial highlights Delivering strong half-year results Excellent revenue growth of +9% at constant FX vs H1 2022 Data in €m H1 2023 H1 2022 Δ% Very strong and above market organic growth at +7% in a REVENUES 1,113.8 1,037.2 +7.4% softer than expected market, mainly due to returning cus
Slide 6: Financial results by Region: EMEA
Financial results by Region EMEA: sound performance in a softer than expected market and with one trading day less Revenues up +3.2% at constant FX vs Q2 2022 Data in €m Q2 2023 Q2 2022 Δ% Above market organic growth at +2.2% REVENUES 375.8 364.5 +3.1% − Still negative market demand, mainly driv
Slide 7: Financial results by Region: Americas
Financial results by Region AMERICAS: another outstanding and well-above-market performance for the Group’s fastest-growing Region Excellent revenue growth of +23.5% at constant FX vs Q2 2022 Data in €m Q2 2023 Q2 2022 Δ% Outstanding organic growth at +16.6% vs. a remarkable REVENUES 111.8 96.8
Slide 8: Financial results by Region: APAC
Financial results by Region APAC: excellent top-line performance across all markets and accelerating in Q2; profitability affected by one-time charge for leadership change Excellent revenue growth of +16.1% at constant FX vs Q2 2022 Data in €m Q2 2023 Q2 2022 Δ% Outstanding organic growth at ~+1
Slide 9: Q2 2023 Financial results
Q2 2023 Financial results Delivering solid results across the board Data in €m Q2 2023 Q2 2022 Δ Rec (unless specified) Recurring Reported Recurring Reported 23/22 REVENUES 573.5 573.5 541.4 541.4 +6.0% EBITDA 152.5 149.1 147.3 145.3 +3.6% Margin % 26.6% 26.0% 27.2% 26.8% -- ORDINARY D&A (53.9) (53.
Slide 10: H1 2023 Financial results
H1 2023 Financial results Strong half-year results Data in €m H1 2023 H1 2022 Δ Rec (unless specified) Recurring Reported Recurring Reported 23/22 REVENUES 1,113.8 1,113.8 1,037.2 1,037.2 +7.4% EBITDA 276.0 264.8 260.1 255.1 +6.1% Margin % 24.8% 23.8% 25.1% 24.6% -- ORDINARY D&A (104.0) (104.0) (94.
Slide 11: H1 2023 Financial results: cash flow
H1 2023 Financial results Operating Cash Flow slightly below exceptionally strong H1 2022 Data in €m H1 2023 H1 2022 Δ Operating cash flow before repayment of lease liabilities 194.2 207.8 (13.6) Repayment of lease liabilities (56.2) (52.2) (3.9) Operating cash flow 138.0 155.6 (17.6) Capex (net) (6
Slide 12: H1 2023 Financial results: leverage
H1 2023 Financial results Leverage at 1.57x after strong investments (>€120m Capex & M&A cash-out) and shareholders’ returns (€65m dividend distribution) Data in €m 30/06/2023 31/12/2022 Liquidity (215.5) (229.6) Short-term debt 432.4 251.7 Medium/long-term debt 666.9 807.9 Net financial debt 883.8
Slide 13: Company's financial solidity further reinforced
Company’s financial solidity further reinforced Successfully secured up to €650 million of additional finance Debt outstanding & committed credit lines YTD Debt maturity & committed credit lines YTD (€m) Final maturity Debt outstanding € mln Credit lines Irrevocable credit lines (undrawn) Bank loan
Slide 14: 2023 Outlook
2023 Outlook In Q2 market demand was softer than expected, primarily due to lower level of returning customers in EMEA Looking into H2 We expect to continue to grow faster than the market Organic and profitability comparative figures easing particularly in Q4 Positive start to Q3 with reve
Slide 15: Investor Relations & Sustainability Contacts
I n v e s t o r R e l a t i o ns & S u s t a i n a b i l i t y C o n t a c t s FRANCESCA RAMBAUDI AMANDA HART GIRALDI FRANCESCO ROMEO OLGA LEPECHKINA Investor Relations & Sustainability Sr Director Investor Relations Manager Sustainability Manager Assistant Tel: +39 02 5747 2261 Tel: +39 02 5747 231