Gpi Spa · MIL:GPI
Gpi Spa — FY2025 Earnings Presentation
28 slides from Gpi Spa's earnings presentation, 2026
Slide 1: FY 2025 Results
Innovation for Sustainable Healthcare FY 2025 Results A. DI SANTO – CEO M. SANTORO – GM
Slide 2: Agenda
AGENDA 1 GPI GROUP OVERVIEW 2 FY25 RESULTS 3 Q&A
Slide 3: Agenda: GPI Group Overview
AGENDA 1 GPI GROUP OVERVIEW 2 FY25 RESULTS 3 Q&A
Slide 4: Key Messages
4 KEY MESSAGES STRATEGY FY 2025 Execution of the 2025–2029 Industrial Plan is on track, supported by a more scalable operating model aligned with our BP ambitions. GROWTH Revenue EBITDA 2025 marks another year of double-digit international growth with an € 546.2 M € 113.5 M increased profitability.
Slide 5: We deliver software excellence to empower digital health
5 We deliver software excellence to empower digital health Software Software STRATEGIC CORE SOLUTIONS VERTICAL PRODUCTS DIVERSIFICATION HIS BLOOD CARE & TELEMONITORING EMR - Electronic Medical Record, & Substances Of Human Origin etc. ICT & CYBERDEFENCE DIAGNOSTICS TREATING & CARING AUTOMATION Labor
Slide 6: Strategic Business Plan 2025-2029
6 Strategic Business Plan 2025-2029 Software SBA: Consolidating our Italian leadership. Capture additional value from recent acquisitions(1) while scaling global vertical software products(2) (3) and expanding international presence. STRATEGIC PILLARS Enhancement of the organizational model, to impr
Slide 7: We are on track with our Business Plan targets
7 We are on track with our Business Plan targets 2027E 2029E Revenue > € 600 M > € 700 M o/w overseas % 25% - 27% 27% - 30% EBITDA margin > 22% > 25% CAPEX ca. 7-9% of revenue ROIC > 11% > 15% DEBT NFP/EBITDA < 2.7x < 2.5x
Slide 8: We scale healthcare innovation across borders
8 We scale healthcare innovation across borders GPI global footprint: Navigating international data regulations & enabling interoperability Revenue Breakdown (FY25, %) Main geographies Other countries Health Public 69% Health Private 19% Offices ◼ Hospitals ◼ Nursing homes UK Germany HQs ◼ Healthcar
Slide 9: Key business highlights
Key business highlights Addressable market Our tender results and key contract wins confirm our ability to capture a growing addressable market, translating opportunities into tangible revenue and long-term partnerships. Innovation pathway We are focusing our investments on continuously enhancing ou
Slide 10: Agenda: FY25 Results
AGENDA 1 GPI GROUP OVERVIEW 2 FY25 RESULTS 3 Q&A
Slide 11: Key highlights of 2025 results
11 Key highlights of 2025 results Double-digit international growth, maintaining the leadership reference in the 1 Italian market. 2 On track with respect to the Strategic Business Plan 2025-2029. 3 Increased focus on software business with positive results on EBITDA. 4 Completed M&A operations alig
Slide 12: Economic Results
12 Economic Results FY 25 FY 24 REVENUE: € 546.2 M +7.0% | o/w 5.8% Organic Restated Software-Led Growth Accelerates Scale MAIN FIGURES - €Mln • International markets driving strong expansion. Revenue & Other Income 546.2 510.3 • Leadership position in Italy further strengthened. EBITDA: € 113.5 M +
Slide 13: Outstanding International Expansion
13 Outstanding International Expansion REVENUE BREAKDOWN RoW 2025 % 2024 % 24% Revised Italy REVENUE BY GEOGRAPHICAL AREA - €M 76% 36% of Software Italy 415.8 76.1% 399.4 78.3% revenues from abroad Overseas 130.4 23.9% 110.9 21.7% Total revenue and REVENUE GROWTH other consolidated 546.2 100% 510.3
Slide 14: SBA Software leads the results
14 SBA Software leads the results 2025 % of total 2024 Revised % of Total Change % FY25 REVENUE MIX Revenues Revenues / FY24 REVENUE BY SBA - €M Software 343.2 62.8% 304.6 59.7% 12.7% Care 158.0 28.9% 162.2 31.8% -2.6% 63% Others (Automation and ICT) 45.0 8.3% 43.6 8.5% 3.2% Software Total revenue a
Slide 15: SBA Software deep dive
15 SBA Software deep dive REVENUE € M EBITDA € M Our software solutions 36% streamline healthcare 343 Margin of Software’s operations, enhance care 305 total revenues 29.8% 29.9% quality, improve patient are generated abroad outcomes and reduce costs. 103 91 • Recurring Revenues 52% Europe 26% • Ret
Slide 16: SBA Software: Product Area Break Down
16 SBA Software: Product Area Break Down Patient-centric Hospital Information System (HIS) providing real-time access HIS 29.7% to health data. Social Care: central hub where healthcare providers, patients and caregivers Treating & can collaborate to manage complex medical conditions. Software 13.4%
Slide 17: Financial Highlights FY25
17 Financial Highlights FY25 FY 25 FY 24 Restated FIXED ASSETS REVENUE BY GEOGRAPHICAL AREA - €MLN Strategic Investments increase: Fixed Assets 493.0 457.3 • Goodwill: Logiprem-F SAS: €19.4 M; Mondo EDP S.r.l.: €3.6 M • New assets: Policura Hospital, Tylent Net Working Capital 287.4 263.2 NET WORKIN
Slide 18: Net Debt Bridge FY25
18 Net Debt Bridge FY25 Net Debt Bridge - €M 450,0 0,4 396,4 30,7 400,0 15,9 27,4 (113,5) 22,6 350,0 336,5 30,9 9,9 300,0 35,5 250,0 200,0 150,0 100,0 50,0 0,0 NFD EBITDA M&A NWC and Taxes CAPEX CAPEX Dividends Net Financial Others NFD 31/12/2024 other non- intangible tangible Expenses 31/12/2025 fu
Slide 19: Business Plan - Next Steps
19 Business Plan - Next Steps Integration & Organization Processes synergies We are transforming our We are redesigning core processes governance model globally to to increase efficiency, We are accelerating integration support a more scalable and standardization and execution and actively capturing
Slide 20: Take aways
20 Take aways Solid 2025 performance 03 2026 outlook in line with Business Plan milestones towards 2027 02 Accelerating global expansion 01
Slide 21: Agenda: Q&A
AGENDA 1 GPI GROUP OVERVIEW 2 FY25 RESULTS 3 Q&A
Slide 22: Question & Answers
22 Question & Answers SOLID 2025 EXPECTATIONS CONSISTENT ACCELERATING CLEAR AI & RESULTS ALIGNED WITH ITALIAN INTERNATIONAL INNOVATION BUSINESS PLAN LEADERSHIP BUSINESS PATHWAY DEVELOPMENT
Slide 23: Appendix
Appendix Financial Statements FY25
Slide 24: Consolidated Statement of Financial Position
24 CONSOLIDATED STATEMENT OF FINANCIAL 31 December 2024 POSITION, 31 December 2025 Revised in EUR thousands Assets Goodwill 209,070 187,564 Other intangible assets 199,208 199,847 Property, plant and equipment 69,030 57,783 Equity-accounted investments 405 459 Non-current financial assets 15,229 11,
Slide 25: Consolidated Income Statement
25 CONSOLIDATED INCOME STATEMENT, 2024 2025 in EUR thousands Revised Revenue 530,247 496,883 Other income 15,933 13,459 Total revenue and other income 546,180 510,342 Costs for materials (27,877) (25,878) Service costs (126,370) (121,632) Personnel costs (268,093) (250,155) Amortisation, depreciatio
Slide 26: Statement of Cash Flows
26 2024 STATEMENT OF CASH FLOWS, in EUR thousands 2025 Revised Cash flows from operating activities Profit/Loss for the period 15,210 103,191 Adjustments for: - Depreciation of property, plant and equipment 11,994 11,688 - Amortisation of intangible assets 43,681 41,493 - Amortisation of contract co
Slide 27: Disclaimer
27 Disclaimer The material in this presentation was prepared by GPI S.p.A. ("GPI” or the “Company”) without any form Order; and (C) other persons to whom this presentation can be legally distributed and disclosed in of independent verification; it is general, basic information about the current busi
Slide 28: IR Contacts details
Innovation for Sustainable Healthcare IR Contacts details Via Ragazzi del '99, 13 - 38123 Trento t. +39 0461 381515 investor.relations@gpi.it Fabrizio Redavid Lorenzo Giollo fabrizio.redavid@gpi.it lorenzo.giollo@gpi.it