Dexelance · MIL:DEX
Dexelance — Investor Presentation (November 2024)
29 slides from Dexelance's investor presentation, November 2024
Slide 1: Dexelance Investor Presentation Nov-Dec 2024
DE XELANCE CRAFTING DESIGN FOR EXCELLENCE INVESTOR PRESENTATION Nov-Dec. 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 Our mission is to inspire and enrich the lives of our customers by infusing the essence of refined living into everyday experiences, ensuring that at the core of everything we offer lies the art of crafting design for excellence. We are
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, a further 31% stake in July
(1) Acquisition of a 20% stake in 2021, a further 31% stake in July 2023 and the final 49% in October 2024. 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: Core HEDF and luxury market segments
| ~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 Bain&Company-Altagamma «Luxury goods worldwide market study»
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 | 2015-2023) CAGR- +4/5% 2 ae a 28 98 con Dexelance evolution (€m | 2015-2023) 23 De 2015 BDEXELANCE 2016 2017 a8 ante 2018 2010 om with ual organic gro ACO 08 740% 2
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: Art and design project
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 September 2024
• • • (1) Last update: 30 September 2024 14
Slide 15: Recent updates
Recent updates and 9M 2024 results BDEXELANCE
Slide 16: het
ae het iba a ial = BDEXELANCE 16
Slide 17: New Gervasoni store, New York
NEW Gervasor i Lexington Avenue, NY - 48 floor GERVASONI 1882 BDEXELANCE 7
Slide 18: Davide Groppi opens new flagship store in Milan
On the occasion of Salone del Mobile, Davide Groppi opened a new flagship store in Milan: a place of meeting, experience and seduction, where light is the true protagonist le, Natura, 4959/" ide Groppi Milan BDEXELANCE
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: BDEXELANCE a
BDEXELANCE a
Slide 22: Lighting of strategic value; Axolight acquisition of remaining 49%
Lighting is confirmed as of strategic value for Dexelance, with further synergies to be unlocked by the renewed synergistic interaction between Axolight and Flexalighting BDEXELANCE On 45th October the Group announced the acceleration to its ascent to 100% of the Axolight share capital through the a
Slide 23: 9M 2024 financial results
• • (1) Full 9M 2023 data prepared including 9 months of Cubo Design, Axolight and Turri, 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/earn
Slide 24: (1) Full 9M 2023 data prepared including 9 months of Cubo Design, Axolight and
Δ Δ | (1) Full 9M 2023 data prepared including 9 months of Cubo Design, Axolight and Turri despite exact acquisition date.
Slide 25: (1) Full 9M 2023 data prepared including 9 months of Cubo Design, Axolight and
Δ Δ | (1) Full 9M 2023 data prepared including 9 months of Cubo Design, Axolight and Turri despite exact acquisition date.
Slide 26: (1) Full 9M 2023 data prepared including 9 months of Cubo Design, Axolight and
Δ Δ | (1) Full 9M 2023 data prepared including 9 months of Cubo Design, Axolight and Turri despite exact acquisition date.
Slide 27: Net financial position and net working capital
Despite usual quarterly swings, NWC is on track for neutral impact at year-end. Solid cash generation expected in the last quarter NET FINANCIAL POSITION | €m NET WORKING CAPITAL | €m FY 23 9M 24 73 8.3 43 Net bank debt 14,2 cluding Minorities*, earnouts* and others 73,4 . y €60.2mcash + | | 6 a | €
Slide 28: coe
Be coe Doz z3e 2°? 7 239.4 2214 Resident y Contract mLuxury 28 BDEXELANCE
Slide 29: Dexelance group brands and locations
DE XELANCE Italia Cina UK USA GERVASONI 1882 C=NACCHI! MITON) VERY wood davide groppi FLEXALIGHTING MERIDIANI sebe" Axelight