Gpi Spa · MIL:GPI
Gpi Spa — Investor Presentation (June 2022)
36 slides from Gpi Spa's investor presentation, Jun 29, 2022
Slide 1: Investor Presentation FY21
INVESTOR PRESENTATION FY21 28 -29 June 2022
Slide 2: Values, Vision, Mission
VALUES History of > 30 years of experience, management team with a track Growth record of internal growth and ETHICS RESPONSIBILITY M&As PERSON-CENTERED PASSION solutions used by 2,700 International customers in more than CARE footprint 70 countries VISION To be the protagonists in the path of 1st p
Slide 3: Digital Transformation for Sustainable Health Systems
Digital Trasformation for Sustainable Health Systems Current environment Digital health solution Effects and streamlining Resources optimization and Shortage of medical staff AUTOMATION impact on average (doctors, nurses) hospitalization Complex and intricate Process facilitation and MANAGEMENT SOFT
Slide 4: A History of Steady Growth
+ 30.6% + 20.6% 326.9 YoY YoY EXPORT 9.6% 70% 271.0 a Recurring fees History of Steady 16,7% on adj. Revenue Growth ITALY 90.4% 15,2% on tot. Revenue 16.0% 14.8% H Public 49.8 81.3% 40.2 7,217 Employees 2,700 Clients 70 Countries € 100 M M&A deals in the last 5 years 6.2% H Private FY 20 FY 21 FY 20
Slide 5: 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 6: Supply Lines
Supply Lines • hospital information system • health social care • blood transfusion & tissue bank Software • health administration • Business Intelligence, data analytics main SBAs • other 86.8% of total revenue • BPO health care administrative svc. (AtC,..) • telemedicine Care • other • automated p
Slide 7: Software FY21
Software FY21 +15.5% 2° player ITA 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 8: 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 9: Other SBAs
Other SBAs AUTOMATION Automated warehouse sales, maintenance and service fees +20% • Retail Pharmacies • Hospital Pharmacies 43.1 • Wholesaler and other industries 35.8 PAY 14.0 Automation ePayment services 11.9 POS rental and related software 8.0 • Large-scale Retail; 11.3 Pay • Local PA 9.0 5.4 •
Slide 10: 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 11: 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 12: 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 13: 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 14: Competitive environment and strategic guidelines
Competitive environment and strategic guidelines
Slide 15: Global and European market of IT software and services in Healthcare
Global and European market of IT softwares and services in Healthcare Global sales ($ bn) European Sales ($ bn) +12.2% 112.5 +12.2% 35.7 100.2 31.4 89.0 27.9 79.7 59.1 25.3 69.4 52.0 21.5 45.9 41.5 35.7 48.2 53.4 38.2 43.1 33.7 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Rest of World USA EU S
Slide 16: Digital Healthcare & BPO in Italy
Digital Healthcare & BPO in Italy Potential effects of NRRP on the Italian digital healthcare market CAGR $ bn 21-24 €5.8 bn +10.9% 2021-2026 Funds dedicated to the SW & IT Services1 2.3 digitalization of healthcare of which: BPO (Business Process Outsourcing) 2.0 Telemedicine2 1.8 1.7 • €3.6 bn 1.5
Slide 17: Competitive ranking – Italian Top Players
Competitive ranking – Italian Top Players Software BPO AtC (Business Process Outsourcing) Company Focus on Addressable market Company HC ca. € 1 bn 5 Top Players Through 35%1 ~50% dedicated healthcare division Reply’s subsidiary Through GPI has a potential reach dedicated healthcare division of
Slide 18: Financial Targets 2024
Financial Targets 2024 Including Capital Increase of € 140 mn € mn 2021 2024 Organic Revenue >420 mn CAGR 2021-2024 > 8.5% REVENUE 327.0 >500.0 Organic & inorganic > 500 mn CAGR 2021-2024 > 15% EBITDA 15.2% >17.0% Margin NFI1 3.1 X EBITDA <2.5 X EBITDA pro forma2 Notes: (1) NFI includes liabilities
Slide 19: Strategic pillars of the SBP 2022 – 2024
Strategic pillars of the SBP 2022 – 2024 Values, Mission and Vision 1. 2. 3. 4. Global Leader Interconnected Innovative and Secure Structure, Processes and Governance Sustainability, Impact, Brand and Reputation
Slide 20: Strategic initiatives
Strategic initiatives Increase in turnover Rationalization and Global market leader Software in Italy innovation of portfolio in Blood Become national reference Care & Virtual Consolidating BPO’s position in Development of a telemedicine operator and enabler of Care the public and private market dis
Slide 21: Strategic pillars of the SBP 2022 – 2024
Strategic pillars of the SBP 2022 – 2024 • Develop and implement a sustainability plan with particular reference to the social component, in the field of Sustainability, healthcare, measuring potential impacts through defined metrics (SDG n 3 Good Health Agenda 2030 UN) A Impact, Brand and • Positio
Slide 22: M&A Guidelines
M&A Guidelines (cTe)|
Slide 23: Historic M&A process
1988 Pi established inOctober e Historic M&A process ACQUIRED Spid (16%) Selfin health) INCREASED HOLDING IN sysline (70%) ESTABLISHED CRG MADO ACQUIRED & CONSOLIDATED ACQUIRED Logicast (700%) GCS thealin) Larea (100%) Argentea (100%) Spid (73%) ACQUIRED Sysline (90%) Sysline( 55%) Hit (20%) ESTABLI
Slide 24: M&A Guidelines
M&A Guidelines Become a Major European Player Gpi expects to keep on investing in software companies both abroad and in Italy to expand its product portfolio Focus on international software companies mainly operating in: Blood Management LIS HR /PA with an EBITDA margin > 16% Product Portfolio Evolu
Slide 25: Acquisition of Tesi Group
Acquisition of Tesi Group LIS & RIS/PACS Blood Acquisition of Put & Call Modular suite of Clinical activities 65% of the share options on the softwares capital remaining 35% Solid customer base Expected September >150 >30 >200 closing 30th 2022 Laboratories Transfusional Clinical imaging Strategic r
Slide 26: Capital Increase
Capital Increase Issuer Transaction type Amount Capital increase Pre-emptive € 140 mn Subscription rights Subscription price Commitments The smallest between: Subscriptions weighted average VWAPs for traded volumes in CDP Equity € 70 mn FM Srl € 35 mn the 6 months preceding the BoD1 and Underwriting
Slide 27: Shareholder structure and voting rights
Shareholder structure and voting rights Current Shareholder structure Post - Capital increase Shareholder structure1 Underwriting investors FM Srl (Manzana Family) 8.9% FM Srl (Manzana Family) CDP Equity 36.1% 42.1% 45.9% Treasury Shares 57.3% Treasury Shares Market 0.4% 0.6% Market 17.7% Current vo
Slide 28: 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 15 June 2022 € 14.00 Growth and Visibility Ordinary Shares 18,260,496 Capitalisation € M 256 Technology and Service ANALYSTS’
Slide 29: Gpi vs FTSE small cap and FTSE mid cap
1 Year YTD Gpi + 0.7% -14.6% FTSE small cap + 2.4% -10.2% FTSE mid cap -19.8% -29.1%
Slide 30: A New Architecture of Integrated Solutions
A New Architecture of Integrated Solutions Threshold Values and Alert Structured Interaction with Patients Monitoring Dashboard Proactivity and Care IoT – Sensors – Dedicated Apps Intelligent Cloud Management Dataflow Monitoring Direct Interaction with Patients Technologies for Enabling Disease Pati
Slide 31: BPC - Business Package Capabilities
BPC - Business Package Capabilities POHEMA components #7 POHEMA/APP GAIA Population analysis and stratification TAKE CARE Individual assistance plan management system PHEBO Telemedicine and Telemonitoring Platform DOC-AVC Remote visit and consultation software PATIENT PORTAL Patient engagement porta
Slide 32: POHEMA Micro-Services Architecture
POHEMA Micro-Services Architecture
Slide 33: Vein-to-Vein Process
Blood Donor Centers Hospitals «VEIN-TO-VEIN» PROCESS
Slide 34: Global Competitors
ranks 5th on the global market of Blood transfusion sw GLOBAL France COMPETITORS USA USA USA Italy USA USA Australia USA Germany USA China China China USA Source: QY Research
Slide 35: IR Contact details
IR Contact details Via Ragazzi del '99, 13 - 38123 Trento T +39 0461 381515 investor.relations@gpi.it Fabrizio Redavid Lorenzo Giollo C. +39 335 1035499 C. +39 340 8223333 fabrizio.redavid@gpi.it lorenzo.giollo@gpi.it - Maggio 2018
Slide 36: 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