Gpi Spa · MIL:GPI
Gpi Spa — Investor Presentation (February 2022)
34 slides from Gpi Spa's investor presentation, February 2022
Slide 1: Investor Presentation February 2022
INVESTOR PRESENTATION FEBRUARY 2022
Slide 2: Sustainability and the Health Care Market
Sustainability and the Health Care Market DIGITAL TRANSFORMATION Population ageing • Redesign processes • around 1/3 over 60 yo (Italy) • general trend • Prevention and control of NCDs Chronic diseases (NCDs1) befall the world at large • increasing prevalence of (multiple) chronic conditions • Integ
Slide 3: Your Global Partner for a Better Future
> 30 years of experience, management History of Your Global Partner Growth team with a track record of internal growth and M&As for a Better Future International footprint solutions used by 2,500 customers in more than 70 countries We develop software, technologies and services to help innovating th
Slide 4: History of Steady Growth
+ ~ 20% 2013 Orizzonte fund YoY ~ 326 providing equity financing First minibond issued. 2016 merger between GPI 271.0 and the SPAC CFP1. a Joining the stock market 240.9 History of AIM Italia. 203.7 Steady 2018 graduated from AIM to MTA main market of Growth FY Borsa Italiana. > € 100 M M&A deals 15
Slide 5: Strategic Business Areas
Strategic Business Areas % revenue by SBA out of total revenue in FY 2020 TECHNOLOGIES 51.1% Pay 3.3% Automation 4.4% ICT 5.5% Software 37.9% SERVICES 48.9% Care Integrate the value of Persons with the value of Technologies.
Slide 6: Supply Lines
Supply Lines • hospital information system • health social care • blood transfusion & tissue bank Software • health administration • Business Intelligence, data analytics main SBAs • other 86.8% of total revenue • BPO health care administrative svc. (AtC,..) • telemedicine Care • other • automated p
Slide 7: Segmentation H1 2021
Segmentation H1 2021 Revenue by EBITDA by Revenue by Revenue by Strategic Business Area Strategic Business Area Geographic area Client type* 6.4% 4.4% 12.9% 17.5% 10.3% 34.2% 6.9% 14.3% 68.3% 52.9% 82.3% 89.7% Software Care Other Software Care Other Italy Export H-Pub H-Pri NH-Pri NH-Pub *FY 2020 da
Slide 8: Highlights
Highlights M&As - Blood Bank SW • Proceeds from exercise of warrants € 22.3 M Funding M&As Assets Haemonetics, USA $ 11.3 M Rev. |35% EBITDA • CERVED confirmes rating at A3.1 100 clients in the USA (2020) A- S&P |A3 Moody’s | A-1 Fitch equivalent • Tenders 147 | Bids Win-ratio 63% | Awarded € 246 M
Slide 9: Actual Projects
Actual Projects Real answers to Covid- 19: concretely implementing the Group’s vision Informational Services 24/7 APPs indoor navigation and patient tracking SW for the management of swab tests APP for the queue management and access regulation to phamacies, health care facilities... Virtual Care Re
Slide 10: Solid Growth H1 2021
Solid Growth H1 2021 €M H1 2021 H1 2020 Revenue & other income 151.8 117.2 Revenue € 151.8 M +29.6% (22% organic) thanks to the contribution of: Adjusted Revenue(1) 138.1 108.1 EBITDA 14.1 10.5 • SW € 51.9 M +25.0% 8.2% Org. • Care € 80.3 M +31.7% 31.1% Org. EBITDA % of adj. revenue 10.2% 9.7% • Oth
Slide 11: Financial Highlights H1 2021
Financial Highlights H1 2021 A3.1 CERVED Rating A- S&P |A3 Moody’s | A-1 Fitch equivalent €M H1 2021 FY 2020 Restated Net working capital 126.2 109.1 Non-current assets 167.7 158.4 Other operating assets/(liabilities) (72.6) (59.2) NET INVESTED CAPITAL 221.6 208.2 Shareholders’ equity 73.5 83.4 Net
Slide 12: Software H1 2021
Software H1 2021 2° player ITA * 42% Recurring fees* 1-3 years Average contract length FY 2021 +15% preliminary data 30% Tenders win-ratio* Δ +25.0% 101.1 89.1 27.0% 25.3% 32.2% FY HY Δ +13.6% 24.8% 27.3 7.4% 51.5 FY HY 18.7% 8.7% 22.1 13.9% 41.1 12.5% 17.8% 9.7 Clinical Health ERP 7.3 90.8 Blood MS
Slide 13: Care H1 2021
Care H1 2021 1° player ITA * FY 2021 +25% 81% Recurring fees* 4-6 years Average contract length Δ +9.3% preliminary data 37% Tenders win-ratio* 113.9 104.2 4.7% 1.3% Δ +31.7% FY HY 67.0 52.4 FY 6.1% 6.5% HY 94.0% 7.4 6.4 3.2% 3.0% AtC - administr. svc. Telemedicine 1.7 2.0 90.8 90.3 Other 22.3* Adj.
Slide 14: Other SBAs
Other SBAs AUTOMATION Automated warehouse sales, maintenance and service fees FY 2021 +19% FY preliminary data • Retail Pharmacies • Hospital Pharmacies Δ +19.4% • Wholesaler and other industries 35.9 HY 30.0 12.0 PAY 11.5 Automation Δ +33.7% ePayment services POS rental and related software 9.0 19.
Slide 15: Competitive environment and strategic guidelines
Competitive environment and strategic guidelines
Slide 16: Market Assessment Software and IT Services
Market Assessment Software and IT Services Source: Gartner Hospital + Physician survey (2021 Q2) value of the Global market for health care software + IT services in 2020 $67.7 B +7.3% 2020 on 2019 CAGR 20 – 24: 12.3% 50.5% North America CAGR 20 – 24: 12.0% 24.8% Western Europe CAGR 20 – 24: 11.0% $
Slide 17: IT Market 2018 – 2024 (Italy)
IT Market 2018 – 2024 (Italy) Source:Netconsulting Cube (June 2021 Q2) - data in € M, % TOTAL € 1,346.3 M CAGR 20-24 6.8% SW + Svc . € 1,091.3 M CAGR 20-24 6.9% 17
Slide 18: Competitive Ranking
Competitive Ranking Top Players in Italy Software BPO AtC Focus on Company Brief description HC Ranking >>29 28MMcitizens cittadinireached serviti ICT solutions and related services for public and private healthcare providers. 1st Company Brief description Ranking ICT solutions, administrative and
Slide 19: International Growth +101%
Footprint in 70 International Growth +101% Countries Export 10.3% of Total Revenue (6.6% H1 2020) Offices in 11 Countries Blood Management System Gpi is globally ranking among Top 5 providers Pro-forma earnings > € 20 M BMS strategic software for the Health Systems of all Countries
Slide 20: The Pillars
The 5 Pillars Strategic intentions 2020-2024 01 02 03 04 05 EVER PRIVATE MARKET INTEGRATED FROM HEALTH LEADERSHIP SOLUTIONS PROVIDER MORE CARE in ITALY TO PARTNER GLOBAL Strong increase Doubling up of Major regional and Greater integration Multi-business over the BP the Private HC national tenders o
Slide 21: Economic–Financial Targets Update for 2024
Economic–Financial Targets Update for 2024 New targets estimated by equal scope of consolidation as of 31/12/2020 Previous Targets Updated Targets > € 295 M REVENUE > € 330 M CAGR 19-24 > 4% CAGR 20-24 > 5% >15.0% EBITDA MARGIN >16.5% ≤ 1xEBITDA NET DEBT ≤ 1xEBITDA
Slide 22: M&A Guidelines
M&A Guidelines
Slide 23: Historic M&A process
established in October e Historic M&A process ACQUIRED Spid (16%) Selfin health) INCREASED HOLDING IN Sysline (70%) ESTABLISHED CRG ‘MADO ACQUIRED & CONSOLIDATED Logicast (100%) area (100%) Argentea (100%) ACQUIRED Sysline(65%) ESTABLISHED Selfin.it ACQUIRED GCS (health) ACQUIRED imtac (23%) CONSOLI
Slide 24: M&A Guidelines Become a Major European Player
M&A Guidelines Become a Major European Player TARGET • Product Portfolio Evolution • Structured software software|services| companies territories • Product Portfolio Evolution Blood Management System Software 3 Jan 2022 - LOI acquisition of TESI Group LIS | RIS/PACS | Blood | AtC Italy, Poland, Spai
Slide 25: M&A Guidelines: Funding Sources
M&A Guidelines FUNDING SOURCES • EXERCISED WARRANTS € 22.3 M • BOND • DEBT FINANCING
Slide 26: Investment Attractiveness
Investment Attractiveness Leadership and Uniqueness GPI IN THE STOCK MARKET ISIN: IT0005221517 Ticker: GPI:IM Price 14 Feb 2022 € 13.30 Growth and Visibility Ordinary Shares 18,260,496 Capitalisation € M 243 Technology and Service ANALYSTS’ COVERAGE – Target price SHAREHOLDING STRUCTURE Banca Akros
Slide 27: 1 year
otal en llttae tne tude tun tilda Feb Mar Apr ‘Maggio Gu lug | sla hia oo 1 year +46.47%
Slide 28: A New Architecture of Integrated Solutions
A New Architecture of Integrated Solutions Threshold Value and alert Structured interaction with patients Monitoring Dashboard Proactivity and Care IoT – Sensors – specific Apps Intelligent Cloud Management Monitored data flow Direct interaction with patients
Slide 29: BPC - Business Package Capabilities
BPC - Business Package Capabilities POHEMA components <#@ POHEMA/APP <#@ POHEMA/TECH W POHEMA/CARE GAIA Population analysis and stratification TAKE CARE Individual assistance plan management system PHEBO Telemedicine and Telemonitoring Platform DOC-AVC Remote visit and consultation software PATIENT
Slide 30: POHEMA Micro-Services Architecture
POHEMA Micro-Services Architecture
Slide 31: «Vein-to-Vein» Process
Blood Donor Centers Hospitals «VEIN-TO-VEIN» PROCESS
Slide 32: Global Competitors
ranks 5th on the global market of Blood transfusion sw pro-forma revenue ca $ 26 M - 48% gross margin GLOBAL France COMPETITORS USA USA USA Italy USA USA Australia USA Germany USA China China China USA Source: QY Research
Slide 33: IR Contact details
IR Contact details Via Ragazzi del '99, 13 - 38123 Trento T +39 0461 381515 investor.relations@gpi.it Fabrizio Redavid Lorenzo Giollo C. +39 335 1035499 C. +39 340 8223333 fabrizio.redavid@gpi.it lorenzo.giollo@gpi.it - Maggio 2018
Slide 34: Disclaimer
Disclaimer The material in this presentation was prepared by GPI S.p.A. ("GPI” or the “Company”) without any paragraph 2, letters a) to d) of the Order; and (C) other persons to whom this presentation can be form of independent verification; it is general, basic information about the current busines