Digital Value Spa · MIL:DGV
Digital Value Spa — Investor Presentation (March 2022)
22 slides from Digital Value Spa's investor presentation, March 2022
Slide 1: Digital Value Group
Digital Value Group Italian leader in Digital Transformation CONFIDENTIAL INFORMATION
Slide 2: Disclaimer
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 a number of assumptions, expectations,
Slide 3: FY2021 – Leading the market
FY2021 – Leading the market Revenue Growth +115,5M€, +26,1% o/w 0rganic 104,5M€, +23,6% better than Consensus (+22,2% YoY) Revs on Infra & Digital Business Transformation Improved reveunue mix thanks to the future-proof Business Lines increase Ebitda Margin Confirmed > 10% both on a reported and a p
Slide 4: Key Highlights FY2021 – Reported Figures
Key Highlights FY2021 – Reported Figures M€ Revenues Ebitda +115,4 (26,1%) +12,1 (+26,7%) Revenues Ebitda 557,7 540,3 +17,4 557,7 (+3,2%) 11,0 TT 57,5 55,4 +2,1 57,5 442,3 Tecnosistemi (+3,8%) 1,4 TT 45,4 Tecnosistemi 10,3% 10,3% 9,5% 546,7 Digital Value 56,1 Digital Value 2020 2021 Consensus 2021 2
Slide 5: Key Highlights FY2021 - Pro Forma Figures
Key Highlights FY2021 - Pro Forma Figures M€ Revenues Ebitda 597,5 DV + TT TT first 10 61,2 39,8 months 11,0 540,3 +6,4 TT last 2 months 3,7 +104,5 (+1,2%) +10,7 1,4 55,4 +0,7 (+23,6%) 442,3 (+23,6%) 546,7 45,4 (+1,3%) Pro-forma 56,1 Digital Value Digital Value 2021 10,3% 10,2% 9,5% 2020 2021 Consen
Slide 6: Business Model
Business Model 6
Slide 7: HyperVAR: the single touchpoint for Vendors and Customers
HyperVAR: the single "touchpoint" able to create significant benefits to Vendors and Customers… Players involved in the value chain Vendors1 Customers2 Industry Experts ICT Logistic Partners Strategic Technology Consultants Distributors Advisor «Traditional» Company model Consultants Set Up Service
Slide 8: Addressing the customer's Infra ICT needs with a 360° approach
... addressing the customer’s Infra ICT needs with a “360° approach” Traditional model - VAR 360° Approach – the Hyper-VAR model Data collection and data analysis of the installed solutions performance, providing customer with full sets of KPIs required by the agreed SLAs. Measuring KPIs Information
Slide 9: Top TIER Strategic Partnership
Digital Value can rely on "TOP TIER" partnerships with leading Tech Players thanks to the deep knowledge of their products. Partner Partnership Partnership TIER Tier I Partner 1 Partnership TIER: 1 Gold Partner 1 Basic partnership Top TIER partnership situation in March 2022 Ecosystem Titanium 1 Par
Slide 10: A well diversified customer base, including some of the best Italian large players
A well diversified customer base, including some of the best Italian large players Shown by way of example are just a few of the major clients LARGE PUBLIC ADMIN Large Institutional Players TELCO and MEDIA Private and public companies in the telecommunications and media sectors INDUSTRY Private comp
Slide 11: Macro & Micro Economics Environment
Macro & Micro Economics Environment
Slide 12: EU27 digitization index confirms Italian digital under-development
The digitization index of EU272 countries (DESI1) confirms the Italian "digital under-development" with interesting opportunities for the future The DESI1 index monitors - at the European Commission level - the However, Italy shows a growth rate of its digitization level higher digitalization across
Slide 13: Italian IT market still smaller than main European peers
The size of the IT market, in Italy is still significantly smaller than the main European peers, leading to high potential for future growth 54bn IT Market / GDP (data 2020) Italy 1,2% avg. 1,7% 54bn Spain 1,6% 41bn Germany 1,6% 20bn France 1,8% 18bn UK 2,3% 0,0% 0,5% 1,0% 1,5% 2,0% 2,5% 13 Source :
Slide 14: The PNRR will play a key role in the prospective market scenario
The PNRR will play a key role in the prospective market scenario... Consistent with the evidence of strong "digital underdevelopment" - as highlighted by the DESI report - Italy is the main beneficiary of funds from the NextGeneration EU plan, with a national recovery and resilience plan of over 191
Slide 15: PNRR addressable potential of c.14bn€ for Digital Value
...being a further development opportunity for Digital Value, with an addressable potential of c.14bn€. Pillar PNNR: Digitalization, Innovation and Culture Addressable potential2 from Digital Value(2021-2026, bn€) (2021-2026, bn€) addressable non-addressable 1. Digitalization and Innovation in the P
Slide 16: Financial Results FY2021
Financial Results FY2021 16
Slide 17: Top line confirms for the 3rd year a growth rate >20%
Top line confirms for the 3rd year in a row a growth rate >20% M€ Revenues for LoB Digital Business Transformation Next Gen Data Centers c.23,6 115,4 Smart Workspace Transformation % (+26,1%) TT Tecnosistemi TT Tecnosistemi 557,7 11,0 (2,0%) CAGR 77,5 57,0% (+21,2%) 138,7 442,3 (24,9%) +42,0 (+43,4%
Slide 18: Revenues Bridge by Line of Business
Revenues Bridge by Line of Business +115,4 M€ (+26,1%) 11,0 557,7 42,0 11,0 50,0 43,4% (2,0%) 138,7 12,4 23,8% 442,3 (24,9%) TT Tecnosistemi 9,2% Digital Business 96,7 Trasformation (21,9%) 260,4 (46,7%) Next Generation 210,4 Data Center (47,6%) Smart Workplace 135,2 147,6 Trasformation (30,6%) (26,
Slide 19: Ebitda Bridge
Ebitda Bridge M€ / on revs 557,7 -434,6 (77,9%) -47,2 (8,5%) -17,4 57,5 (3,1%) -1,0 (0,2%) 10,3% REVENUES COGS Products COGS Services Personnel SG&A EBITDA 2020 442,3 -342,7 -39,9 -13,6 -0,7 45,4 (77,5%) (9,0%) (3,1%) (0,2%) (10,3%) Pro forma 2021 597,5 -457,6 -54,8 -22,7 -1,2 61,2 (12m TTT) (76,6%)
Slide 20: Net Financial Position & Net Cash Flow
Net Financial Position & Net Cash Flow M€ (32,9) (11,6) (21,3) NFP Net Cash NFP 2020 Flow 2021 57,5 -16,1 -29,3 -12,3 -0,7 -0,9 -8,5 -1,3 Ebitda Capex Change Cash Tax Net Funds TTT 51% Others NOWC Interest acquisition 20
Slide 21: BACK UP
BACK UP
Slide 22: CAPEX - On Premise IaaS: a business model adopted with Tier 1 Customers
CAPEX - ON PREMISE IaaS: a business model selectively adopted with Tier 1 Customers 22