Dexelance · MIL:DEX
Dexelance — Investor Presentation (October 2024)
27 slides from Dexelance's investor presentation, October 2024
Slide 1: Dexelance Investor Presentation October 2024
DE XELANCE CRAFTING DESIGN FOR EXCELLENCE INVESTOR PRESENTATION October 2024
Slide 2: Disclaimer
Disclaimer This presentation (the “Presentation’) has been prepared by Dexelance S.p.A. (the “Company” and together with its subsidiaries, the “Group’) for information purposes only and should not be reproduced or redistributed. The Presentation does not constitute an offer to sell or a solicitation
Slide 3: We strongly believe that today's living should be an experience
WE STRONGLY BELIEVE THAT TODAY’S LIVING SHOULD BE AN EXPERIENCE
Slide 4: put&call options/earnouts, PPA amortization and related fiscal effects. (3) Calculated as (Adj. EBITDA –
(1) Computed as Reported EBITDA + non-recurring costs + M&A transaction costs + IPO costs. (2) Adjusted for EBITDA adjustments, change in estimates of put&call options/earnouts, PPA amortization and related fiscal effects. (3) Calculated as (Adj. EBITDA – CAPEX)/Adj. EBITDA.
Slide 5: (1) Acquisition of a 20% stake in 2021 and acquisition of a further 31%
(1) Acquisition of a 20% stake in 2021 and acquisition of a further 31% stake in July 2023. Consolidated starting from 2H 2023. (2) Acquisition completed in January 2023.
Slide 6: (1) % incidence on 2023F revenue.
• • • • • • • • • • • (1) % incidence on 2023F revenue.
Slide 7: Source: Company elaboration based on Bain&Company – Altagamma «High-End Market Monitor» (June 2022) and
| ~25% ▪ ~20-25% ~20% ~20% ~15-20% ▪ ▪ Core HEDF Personal Luxury Goods Food, Beverages & Wine & Spirits Luxury Yachts & Restaurants Jets Source: Company elaboration based on Bain&Company – Altagamma «High-End Market Monitor» (June 2022) and «Luxury goods worldwide market study» (Fall 2023).
Slide 8: (1) % incidence on 2023F revenue. (2) Milan: Gervasoni, Meridiani, Davide Groppi, Turri. London:
(1) % incidence on 2023F revenue. (2) Milan: Gervasoni, Meridiani, Davide Groppi, Turri. London: Meridiani, Turri. New York: Meridiani, Davide Groppi, Gervasoni.
Slide 9: Proven growth track record, organic and M&A
Proven (and above reference market) growth track record, thanks to both organic and M&A opportunities Core HEDF market evolution (€bn | 2015-2023E) oacn +10% CAGR ~+4-5% 18 38 36 34 35 2015 2016 2017 2018 2019 2020 2024 2022 2023E Dexelance evolution (€m | 2015-2023) 266 growth age annual organic ve
Slide 10: (10) (20) (30) ▪ ▪ ▪ ▪ ▪
30 20 10 0 (10) (20) (30) ▪ ▪ ▪ ▪ ▪ 10
Slide 11: A distinctive value-added strategy
A distinctive value-added strategy... A partnership model based on alignment of interests. designed to preserve companies’ autonomy and DNA while leveraging on Dexelance’s structure and network to realize full growth potential and access to synergies. At Dexelance individuality harmonizes with a uni
Slide 12: (1) Modar, Cenacchi and Gervasoni obtained FSC official certification. (2) Thanks to voluntary carbon
▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ (1) Modar, Cenacchi and Gervasoni obtained FSC official certification. (2) Thanks to voluntary carbon credits acquired, financing a reforestation project in Uruguay and the construction and operation of a photovoltaic plant in Rajastan, India.
Slide 13: Project promoting dialogue between art and design
Aproject aiming to promote the dialogue between art and design and their harmonious synergy. a path to embrace the different souls of the group's companies to iconic works by enhancing the italian and international cultural and artistic heritage. VW ssimo III, Arnaldo Pomodoro lagship Store. Via Man
Slide 14: (1) Last update: 30 June 2024
• • • (1) Last update: 30 June 2024 14
Slide 15: Recent updates and 1H 2024 results
Recent updates and 1H 2024 results BDEXELANCE
Slide 16: het
ae het iba a ial = BDEXELANCE 16
Slide 17: Source: areapress.salonemilano.it
Source: areapress.salonemilano.it
Slide 18: New Gervasoni showroom
wy NEW Gervasoni showroom. Lexington Avenue, NY - 48 floor GERVASONI 1882 BDEXELANCE 18
Slide 19: enhagen,
enhagen, Bortolotto for Saba BDEXELANCE 19
Slide 20: Davide Groppi honored with Compasso d'Oro ADI Award
In June 2024, Davide Groppi has been honored with the third Compasso d’Oro ADI Award for the “Anima” lamp, as well as the second Mention of Honour ADI for the “FM” lamp PREMIO MENZIONE Davide Groppi Mention of Honour Compasso d'Oro AD! Awards: 2044 | SAM : Z TeTaTeT | 2016 2024 | ANIMA ™ ee oe — FM
Slide 21: Adjusted EBITDA – CAPEX)/Full Adjusted EBITDA.
• • (1) Full 1H 23 data prepared including 6 months of Cubo Design, despite exact acquisition date. (2) Computed as Reported EBITDA + non-recurring costs + M&A transaction costs + IPO costs. (3) Income Adjusted for EBITDA Adjustments, change in estimate of put&call options/earnouts, PPA amortization
Slide 22: (1) Full 1H 2023 data prepared including 6 months of Cubo Design, despite exact
Δ | (1) Full 1H 2023 data prepared including 6 months of Cubo Design, despite exact acquisition date.
Slide 23: (1) Full 1H 2023 data prepared including 6 months of Cubo Design, despite exact
Δ | (1) Full 1H 2023 data prepared including 6 months of Cubo Design, despite exact acquisition date.
Slide 24: (1) Full 1H 2023 data prepared including 6 months of Cubo Design, despite exact
Δ | (1) Full 1H 2023 data prepared including 6 months of Cubo Design, despite exact acquisition date.
Slide 25: NWC, capex and net financial position
2024 started with usual quarterly swings, but NWC is on track for usual neutral impact looking at year-end. NET WORKING CAPITAL | €m 8.3 (3,8) (9.7) 1Q 23 2Q 23 3Q 23 FY 23 1Q 24 CAPEX | €m 2.8 25 2.0 42 14 a2 2Q2%8 8Q2%e 4QBB—s«1Q4 BEXELANCE 2Q 24 19 2Q 24 NET FINANCIAL POSITION | €m FY 23 4H 24 14
Slide 26: Core HEDF market normalization phase not over yet
Core HEDF market normalization phase is not over (yet). 1H 2024 order intake remains solid, confirming the expectation of a positive trajectory looking at the year-end. A 183.4 _ [ FIH 24 Residential BDEXELANCE 26
Slide 27: Dexelance S.p.A.
DE XELANCE Dexelance S.p.A. China branch UK branch USA branch BDEXELANCE TURRI FLEXALIGHTING davide groppi rN GERVASONI 1882 saba Axelight _Binova wooD MERIDIANI ws GAMMA