Amplifon Spa · MIL:AMP
Amplifon Spa — Q2 2024 Earnings Presentation
13 slides from Amplifon Spa's earnings presentation, Jul 30, 2024
Slide 1: Q2 & H1 2024 Results
Q2 & HI 2024 Results Milan, July 30% 2024 amplifon
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 2024: Strong revenue growth, fostered by M&A continued momentum
Q2 2024: Strong revenue growth, fostered by M&A continued momentum, in a softer-than-expected European market ae v= 160.4me Revenues: =. *:® EBITDA recurring oe ; Marginat 26.6% Operating _ Leverage 2me OP L70x- vs. 138m in HI 2023 | NFP at L009mé vs 852mé€ at YE 23 after ~275m€ of capex, M&A cash-
Slide 4: Q2 & H1 2024 Financial highlights
Q2 & HI 2024 Financial highlights Top-line strong growth sustained by bolt-on M&A acceleration = Strong revenue growth at 7.1% at constant FX vs Q2 2023 * Solid and above-market organic growth REVENUES 604.1 SS) 45.3% - Global market demand driven by a healthy US market (though growing at a slower p
Slide 5: Financial results by Region: EMEA
Financial results by Region EMEA: positive top-line performance in a flattish market. Field productivity measures delivering good results and limiting the impact of lower operating leverage due to a soft market = Revenue growth at +1.5% at constant FX vs Q2 2023 Data in € V eres G2 2024 G2 2023 A% *
Slide 6: Financial results by Region: Americas
Financial results by Region AMERICAS: Excellent revenue growth driven by strong organic growth and significant M&A contribution Data in €m Q2 2024 Q2 2023 L% REVENUES 129.6 MLS. 415.9% Organic growth +15 4% Acquisitions +9.3% FX -8.8% EBITDA ScD) 323 +9.9% Margin % 27.4% 28.9% -150 bps Data in €m HI
Slide 7: Financial results by Region: APAC
Financial results by Region APAC: Strong top-line performance and continued profitability improvement Data in €m @2 2024 Q2 2023 A% = Excellent revenue growth at constant FX vs Q2 2023 = Strong and well-above-market organic growth vs a remarkable REVENUES 93.0 858 8.4% comparison base (+I5% organic
Slide 8: Q2 2024 Financial results
Q2 2024 Financial results Delivering solid results despite a still flattish demand in Europe Data in €m Q2 2024 Q2 2023 A Rec (unless specified) Recurring Reported Recurring Reported 24/23 REVENUES 604.1 604.1 5755 573.5 45.3% EBITDA 160.4 158.1 152.5 149.1 45.2% Margin % 26.6% 26.2% 26.6% 26.0% = O
Slide 9: H1 2024 Financial results
Hi 2024 Financial results Strong half-year results Data in €m HI 2024 HI 2023 A Rec (unless specified) Recurring Reported Recurring Reported 24/23 REVENUES 1177.3 1177.3 1,113.8 1,113.8 45.7% EBITDA 297.2 293.8 276.0 264.8 47.7% Margin % 25.2% 25.0% 24.8% 23.8% a ORDINARY D&A (119.5) (II9.5) (104.0)
Slide 10: H1 2024 Financial results: cash flow and NFP
HI! 2024 Financial results NFP reflecting strong M&A cash-out, more than doubled vs HI 2023 Data in €m HI 2024 HI 2023 4 Operating cash flow before repayment of lease liabilities 175.7 194.2 (18.4) Repayment of lease liabilities (63.6) (56.2) (7.4) Operating cash flow 12.2 138.0 (25.9) Capex (net) (
Slide 11: H1 2024 Financial results: leverage
Hi! 2024 Financial results Leverage at .7x after strong investments (~€210m Capex & M&A cash-out) and dividends (€66m) Data in €m 30/06/2024 31/12/2023 Liquidity (155.8) (194.0) Short-term debt 487.0 326.7 Medium/long-term debt 678.1 719.4 Net financial debt 1,009.3 852.1 Lease liabilities 512.4 497
Slide 12: 2024 Outlook
2024 Outlook = InQ2 2024 » The European market was softer than expected, in particular from the second half of May to the end of June * The US market was still strong and in line with expectations (although decelerating vs Ql) = Field productivity measures taken in 2023 counterbalanced the slower gr
Slide 13: Investor Relations & Sustainability Contacts
Investor Relations & Sustainability Contacts FRANCESCA RAMBAUDI AMANDA HART GIRALDI OLGA LEPECHKINA Investor Relations & Sustainability Sr Director Investor Relations Manager Assistant Tel: +39 02 5747 2261 Tek +39 02 5747 2317 Tek +39 02 5747 2542 i amanda.giraldi@amplifon.com olga.lepechkina@ampli