Unidata S.p.a. · MIL:UD
Unidata — H1 2022 Earnings Presentation
33 slides from Unidata's earnings presentation, Oct 3, 2022
Slide 1: Company Presentation 1H 2022 Results
OCTOBER, 3 - 2022 COMPANY PRESENTATION 1H 2022 Results
Slide 2: Disclaimer
Disclaimer This document has been prepared by UNIDATA S.p.A. (the “Company”) solely for information purposes. It contains summary information only and is therefore preliminary in nature. It has also been prepared without any intention of being exhaustive. THIS PRESENTATION AND THE ASSOCIATED VERBAL
Slide 3: Index
INDEX COMPANY OVERVIEW MARKET FINANCIALS 1H 2022 ACHIEVEMENTS & NEXT STEPS APPENDIX INVESTOR PRESENTATION 3
Slide 4: Company Overview
COMPANY OVERVIEW INVESTOR PRESENTATION
Slide 5: A Leading and Integrated Infrastructure Player
A LEADING AND INTEGRATED INFRASTRUCTURE PLAYER VALUE PROPOSITION KEY OPERATIONAL DATA1 Unidata is a Fiber Company, leader in Telecommunications, Cloud & IoT Data Center Customer Base over 4,900 km over 13,500 property >80% business optical fiber laid customers TIER IV customers2 Fiber & Cloud & IoT
Slide 6: Wide Range of Offerings for Corporate, Retail and B2B Clients
WIDE RANGE OF OFFERINGS FOR CORPORATE, RETAIL AND B2B CLIENTS OFFERINGS Fiber & Cloud & IoT & Smart Infrastructure Cyber Managed Networking Datacenter Solutions Development Security Services P.A. & Business ~2,000 clients C Average monthly ARPU1 in 1H 2022: ~Eu 5042 U S T ~13 clients Wholesale O Ave
Slide 7: Market
MARKET INVESTOR PRESENTATION
Slide 8: Attractive Market with Strong Growth Potential
ATTRACTIVE MARKET WITH STRONG GROWTH POTENTIAL THE BROADBAND & ULTRABROADBAND MARKET IS RAPIDLY SHIFTING LINES FROM DSL TO RWA, FTTC AND FTTH TECHNOLOGIES WHICH ARE UNIDATA CORE BUSINESS FTTH 19.0% +33.3% YoY FWA FTTC 11.6% 34.7% 69.4% 50.1% 59.3% +7.0% YoY 69.7% 72.3% 74.4% 75.9% 78.1% +7.7% YoY 79
Slide 9: Rapidly Growing Cloud Market
RAPIDLY GROWING CLOUD MARKET DIGITAL TRANSFORMATION AND BUSINESS MODEL INNOVATION Companies stand investing in Cloud technologies to modernize Cloud is the technology with the strongest enabling role in major applications and systems to leverage on scalability, flexibility and time to digitalization
Slide 10: Financials 1H 2022
FINANCIALS 1H 2022 INVESTOR PRESENTATION
Slide 11: Financial Highlights
Financial FINANCIAL Highlights HIGHLIGHTS FY2021 1H 2022 +52% +53% 4.0 M€ Revenues EBITDA NFP 21.6 M€ 5.6 M€ (cash negative) vs 14.2 M€ in 1H2021 vs 3.6 M€ in 1H2021 vs 2.2 M€ in FY2021 +29% +722km Customer Growth Optical Fiber 13,788 >4,900 km vs 10,661 in 1H2021 vs 4,239 in FY2021 INVESTOR PRESENT
Slide 12: Strong Revenues Generation Driven by Customers Increase
Financial STRONG Highlights REVENUESFY2021 GENERATION DRIVEN BY CUSTOMERS INCREASE • Increasing volumes related to optical fiber infrastructure Revenues 1H 2022 breakdown by line of business development Fiber & Networking • Customer growth especially in Business & P.A. (+13% YoY) and 30.5% Infrastru
Slide 13: Outstanding and Continuous Growth (1/2)
OUTSTANDING AND CONTINUOUS GROWTH (1/2) EBITDA & Margin EBITDA bridge 39.3% 38.1% 36.8% 14.1 25.7% 25.9% 8.6 EBITDA EBITDA 5.2 5.6 1H 2021 1H 2022 3.6 • The improvement in EBITDA in 1H 2022 is mainly due to 2019A 2020A 2021A 1H 2021 1H 2022 the increase in network construction activity, which result
Slide 14: Outstanding and Continuous Growth (2/2)
OUTSTANDING AND CONTINUOUS GROWTH (2/2) EBIT & Margin Net Income & Margin 24.6% 20.9% 21.2% 15.9% 9.1 14.1% 14.5% 7.8 10.8% 10.6% 9.7% Extraordinary ~1.8 fiscal impact 4.9 3.0 3.4 3.0 2.1 2.1 1.5 1.4 ~1.8 1 1 2019A 2020A 2021A 1H 2021 1H 2022 2019A 2020A 2021A 1H 2021 1H 2022 EBIT Margin (%) Net Inc
Slide 15: Limited Financial Exposure
LIMITED FINANCIAL EXPOSURE 5.2% 8.2% Net Debt / (tang. + Net Debt / (tang. + intangible assets) intangible assets) Net Cash/ Net Cash/ (Net debt) (Net debt) Dec ‘21 Jun ‘22 INVESTOR PRESENTATION 15
Slide 16: Achievements & Next Steps
ACHIEVEMENTS & NEXT STEPS INVESTOR PRESENTATION
Slide 17: Overview of Our Projects
OVERVIEW OF OUR PROJECTS Project Year Objective Brief description Unidata role Key Partner Investments Execution and 2020 FTTH networks Deploy high-quality FTTH networks Eu 7.0 mn maintenance of – for residential in the “grey areas” characterized by (Eu 37 mn together network (30% share 2022 and bus
Slide 18: Key Points for the Next Unidata
KEY POINTS FOR THE NEXT UNIDATA UNIDATA BOARD OF DIRECTORS DELIBERATED • Share capital increase up to Eu 50mn • to be executed in one or more instalments before the end of 2023 • excluding option rights pursuant to art. 2441 c.c., par. 5-6, reserved to institutional investors CAPITAL INCREASE • Use
Slide 19: Appendix
APPENDIX INVESTOR PRESENTATION
Slide 20: A Leading Fiber Company
A LEADING FIBER COMPANY CUTTING EDGE NETWORK: focus on FTTH technology, with no risk of disruptive changes and limited maintenance capex in the long run STRATEGIC LOCATION: capillary future-proof FTTH network in the largest and most complex market for P.A. and residential clients. Not replicable net
Slide 21: A Cutting Edge Network
A CUTTING EDGE NETWORK… THE COMPANY’S FIBER OPTIC INFRASTRUCTURE COVERS OVER 4,900 KM CONNECTING STRATEGIC DISTRICTS • ~ 79% is owned by the company • ~ 21% is available indirectly through IRU1 agreements with other wholesale providers • ~ 60 Point of Presence • > Eu 54mn invested to build, develop
Slide 22: ...In an Area with High Potential
…IN AN AREA WITH HIGH POTENTIAL STRATEGIC LOCATION FOR BOTH NETWORK AND CLIENTS • First mover in fiber optic (FTTH) and radio (Fixed Wireless Access) infrastructure in the province of Rome • Proprietary network in strategic location • No availability to replicate the infrastructure by competitors bo
Slide 23: Attractive Risk-Return Profile
ATTRACTIVE RISK-RETURN PROFILE INFRASTRUCTURE, FIBER AND DATACENTER SERVICES Strong visibility on IRR Renowned reputation Key anchor client Well-established in Rome with Upfront capex with guaranteed Open Fiber (state-owned company) strong brand awareness and returns and stronger capital with target
Slide 24: Scalable Business Model
SCALABLE BUSINESS MODEL HIGH DEGREE OF OPEATING LEVERAGE AND SPARE CAPACITY TO SERVE CLIENTS WITHOUT ADDITIONAL INVESTMENTS Geo-marketing activities for the evaluation of new geographical Scouting areas to be covered and new customer targets to be reached Planning and Strategic investment planning a
Slide 25: ESG
ESG IN THE LAST TWO YEARS, THE COMPANY HAS ACCELERATED ITS JOURNEY TOWARDS SUSTAINABILITY Achieved certifications ▪ 2nd Sustainability Report published (FY2021) and identification of the ESG objectives to achieve ▪ Implementation of corporate’s Sustainability Factors ▪ Unidata became a Benefit Compa
Slide 26: Shareholders & Governance
SHAREHOLDERS & GOVERNANCE Renato Brunetti Marcello Vispi President and CEO Giampaolo Rossini Vice-President CTO BOARD OF DIRECTORS UNINVEST S.r.l.* Paolo Bianchi Stefano Ciurli R. Brunetti Member Board of Non-Executive Member Directors Board of Directors Barbara Ricciardi Alessandra Bucci C. Bianchi
Slide 27: Unifiber (Newco)
UNIFIBER (NEWCO) Founded in 2020 as part of the greenfield broadband project Unifiber with an additional investment in 2022. OBJECTIVE: To deploy high-quality fiber-to-the-home (FTTH) networks for residential and business in the areas characterized by digital divide (the so-called “grey areas”) of L
Slide 28: Unicenter (JV with Azimut)
UNICENTER (JV WITH AZIMUT) OBJECTIVE: construction of a green and neutral Tier IV level data center with a power of about 16 MW and with 3,200 rack capacity, for a total area of 20,000 sqm with domestic and international customer base using renewable energy sources to the maximum extent possible Tot
Slide 29: Unitirreno
UNITIRRENO OBJECTIVE: construction of a system of underwater cables in the Tyrrhenian Sea of about 890 kilometers that will connect Mazara del Vallo (west coast of Sicily) with Genoa with a junction point near Rome - Fiumicino Total investment equal to €70 million Financial partner 51% 49% New Holdi
Slide 30: Income Statement
INCOME STATEMENT (Eu mn) 1H 2022 1H 2021 Δ YoY (%) Revenues 20.8 13.7 52.2% Other revenues 0.8 0.5 47.9% Total Revenues 21.6 14.2 52.0% Purchase of raw materials and consumables (5.2) (3.8) 39.5% Purchase of services (8.4) (4.3) 96.0% Personnel costs (1.8) (1.7) 8.1% Other operating costs (0.3) (0.7
Slide 31: Balance Sheet
BALANCE SHEET (Eu mn) 1H 2022 1H 2021 Δ YoY (%) (Eu mn) 1H 2022 1H 2021 Δ YoY (%) Share Capital 2.5 2.5 0.0% Other intangible assets 0.5 0.6 -29.2% Legal reserve 0.5 0.4 10.7% Extraordinary reserve 0.1 0.1 0.0% Fixed assets for right use 9.0 9.3 -3.1% Provision for post-employment benefits (0.5) (0.
Slide 32: Cash Flow Statement
CASH FLOW STATEMENT (Eu mn) 1H 2022 1H 2021 (Eu mn) 1H 2022 1H 2021 A) Cash Flow from operating activities B) Cash flows from investing activities Profit (loss) 2.1 3.0 (Investments)/Disinvestment in intangible fixed assets (4.0) (1.0) Income tax expenses 1.0 (1.5) (Investments)/Disinvestment in tan
Slide 33: Cap. Soc. € 2.464.642 I.V.
Unidata S.p.A. Viale A. G. Eiffel, 100 Commercity M26 00148 Roma T. +39 06 404 041 F. +39 06 404 040 02 info@unidata.it unidata.it N. REA 956645 Cap. Soc. € 2.464.642 I.V. C.F./P.IVA 06187081002