Slide 1: Q1 2025 Results
Q1 2025 Results M i l a n , M a y 6 th, 2 0 2 5
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”), and any question-and-answer session that follows the oral presentation (collectively, the “Information”). In accessing the Information, you agree to be bou
Slide 3: Changes to Alternative Performance Measures
Changes to Alternative Performance Measures Starting from Q1 2025, in order to facilitate the understanding of the economic and financial performance of the Group and in line with market practice, Amplifon made a change to the representation of the Alternative Performance Measures (APMs) used by t
Slide 4: Q1 2025 Highlights
Q1 2025 Highlights Highest-ever first-quarter profitability. Solid revenue growth despite the fewer trading days, the very high comparison base, and market softness, especially in the US Revenues EBITDA Adjusted Net Profit Adjusted 588m€ 140.4m€ 41.6m€ +2.6% at K FX vs Q1 2024 Margin at 23.9% Margin
Slide 5: Financial highlights
Q1 2025 Financial highlights Highest-ever first-quarter profitability. Solid revenue growth despite the fewer trading days, the very high comparison base, and market softness, especially in the US Revenue growth at 2.6% vs Q1 2024 Data in €m Q1 2025 Q1 2024 Δ% Flattish organic performance, despi
Slide 6: Financial results by Region: EMEA
Financial results by Region EMEA: Solid revenue growth, despite the fewer trading days, the very high comparison base, and the expected soft market. Excellent profitability, marking a strong start to the year Solid revenue growth at +2% vs. Q1 2024 Data in €m Q1 2025 Q1 2024 Δ% Flattish organic
Slide 7: Financial results by Region: Americas
Financial results by Region AMERICAS: Strong revenue growth, significantly outperforming the market, delivered in a soft market environment Strong revenue growth at approx. +7% vs. Q1 2024 Data in €m Q1 2025 Q1 2024 Δ% Solid and well above-market organic growth, despite REVENUES 118.4 110.8 +6.9
Slide 8: Financial results by Region: APAC
Financial results by Region APAC: Revenues reflecting the exit from the non-core wholesale business in China and the very high comparison base Positive revenue growth at +1.2% at constant FX vs. Q1 2024 Data in €m Q1 2025 Q1 2024 Δ% Organic performance at +0.5%, driven by REVENUES 85.8 86.2 -0.4
Slide 9: Financial results
Q1 2025 Financial results Solid revenue growth and strong profitability Data in €m (unless specified) Q1 2025 Q1 2024 ∆ 25/24 REVENUES 587.8 573.1 +2.6% EBITDA Adj. 140.4 135.7 +3.4% Margin % 23.9% 23.7% -- D&A (66.6) (58.7) -13.3% -4.2% EBIT Adj. 73.8 77.0 Margin % 12.6% 13.4% -- NET FINANCIAL EXPE
Slide 10: Financial results: operating cash flow
Q1 2025 Financial results Operating cash flow at 50 million euros Data in €m Q1 2025 Q1 2024 ∆ Operating cash flow before repayment of lease liabilities 83.9 97.3 (13.4) Repayment of lease liabilities (33.8) (30.1) (3.7) Operating cash flow 50.0 67.2 (17.2) Capex (net) (31.6) (29.9) (1.7) Free cash
Slide 11: Financial results: leverage
Q1 2025 Financial results Leverage at 1.67x, after significant investments of approx. €80m in Capex, M&A cash-out, and share buyback Data in €m 31/03/2025 31/12/2024 Liquidity (261.4) (288.8) Short-term debt 288.0 290.3 Medium/long-term debt 969.9 960.4 Net financial debt 996.6 961.8 Lease liabiliti
Slide 12: 2025 Outlook
2025 Outlook In Q1 2025, we achieved profitable growth, despite Fewer trading days and the highest comparison base of the year A soft US market and a European market that, as expected, did not show material improvement vs. Q4 Looking ahead to the remainder of 2025, we expect The US market
Slide 13: Annex
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Slide 14: Reported financials
Q1 2025 Reported financials Data in €m (unless specified) Q1 2025 Q1 2024 ∆ 25/24 REVENUES 587.8 573.1 +2.6% EBITDA 140.8 135.7 +3.8% Margin % 24.0% 23.7% -- ORDINARY D&A (66.7) (59.3) -12.5% PPA AMORTIZATION (12.7) (11.8) -7.6% EBIT 61.4 64.6 -4.9% Margin % 10.5% 11.3% -- NET FINANCIAL EXPENSES (14
Slide 15: Alternative Performance Measures - adjustments
Alternative Performance Measures - adjustments Alternative Performance Measures exclude the impact of unusual, infrequent or unrelated items to the normal course of business including Transaction and integration costs for acquisitions and changes in earn-out Costs for reorganization and effici
Slide 16: Q1 2025 Reconciliation to consolidated financial statements
Q1 2025 Reconciliation to consolidated financial statements Data in €m EBITDA EBIT Net Profit IFRS Financial Statements Measures (as reported) 140.8 61.4 32.9 Transaction and integration costs for acquisitions and changes in earn-out (0.4) (0.4) (0.4) Gain and loss on disposal of assets & businesses
Slide 17: Q1 2024 Reconciliation to consolidated financial statements
Q1 2024 Reconciliation to consolidated financial statements Data in €m EBITDA EBIT Net Profit IFRS Financial Statements Measures (as reported) 135.7 64.6 34.9 Transaction and integration costs for acquisitions and changes in earn-out (0.1) (0.1) (0.1) Gain and loss on disposal of assets & businesses
Slide 18: Historical EBITDA by Region
Historical EBITDA by Region Data in €m Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Adjusted Recurring Adjusted Recurring Adjusted Recurring Adjusted Recurring Adjusted Recurring EMEA 109.2 109.3 118.2 117.2 82.6 82.4 107.5 107.9 417.5 416.8 Margin % 29.0% 29.1% 31.0% 30.7% 24.0% 23.9% 25.0% 25.1% 27.3%
Slide 19: 2025 Financial Calendar
2025 Financial Calendar Corporate events March 6th: FY 2024 Results April 23rd: Shareholder’s General Meeting May 6th: Q1 2025 Results July 29th: Q2 & H1 2025 Results October 29th: Q3 & 9M 2025 Results 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