Slide 1: 9M 2023 Results
9M 2023 Results Ended September 30, 2023 Milan – November 10, 2023
Slide 2: Agenda
Agenda 1 9M’23 Highlights and Updates 2 9M’23 Financial Results J. Mastragostino | Chief Investor Relations Officer O. Pozzi | Group Chief Financial Officer 3 Business Units Deep Dive 4 Closing Remarks + Q&A O. Pozzi | Group Chief Financial Officer J. Mastragostino | Chief Investor Relations Officer
Slide 3: 9M'23 Highlights and Updates
1 9M’23 Highlights and Updates J. Mastragostino | Chief Investor Relations Officer
Slide 4: Results at 30/09/2023
REVENUES € 269.5 M EBITDA Adjusted € 56.9 M (+ 4% vs PY) EBITDA + 9% vs PY € 51.1 M (+ 5% vs PY) NET PROFIT € 48.5 M NFP € 91.5 M Results at 30/09/2023 vs € 77.6 M in FY2022 4
Slide 5: 9M 2023: focused on results
9M’23 Highlights and Updates 9M 2023: focused on results • Results1 for the 9M 2023 registered further signs of growth: - Revenues at € 269.5M in 9M’23 (+ 9.3% vs PY) confirming high single digit top line growth; - EBITDA Adjusted at € 56.9M in 9M’23 (+ 3.9% vs PY) on very strong DT and CS, BI recor
Slide 6: 9M 2023 Results
9M’23 Highlights and Updates 9M 2023 Results €M Growth was registered both in Revenues (c. + 9%) and EBITDA Adjusted (c. + 4%) EBITDA Adjusted amounted to 56.9 million euros up from 54.8 million euros in PY 269.5 EBITDA Adjusted margin was 21.1% (vs 22.2% in PY) 246.7 Margin Margin EBITDA reported w
Slide 7: EBITDA Adjusted Quarter by Quarter – back end weighted business
9M’23 Highlights and Updates EBITDA Adjusted Quarter by Quarter – back end weighted business €M On track 40.0 29.5 22.6 22.9 19.1 19.0 17.7 16.2 14.5 15.0 11.7 Weight of each Q on Total EBITDA 15% 25% 21% 39% 15% 24% 19% 42% 14%* 22%* 18%* Adjusted 1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022 2Q 2022 3Q
Slide 8: 9M'23 Financial Results
2 9M’23 Financial Results O. Pozzi | Group Chief Financial Officer
Slide 9: 9M 2023 Results – Income Statement
9M’23 Financial Results 9M 2023 Results – Income Statement change €M 9M’23 % 9M’22R % Δ Δ% In top 5 products/services, all Business Units are Revenues 269.5 100.0% 246.7 100.0% 22.9 9.3% represented Total Operating Costs 212.6 78.9% 191.9 77.8% 20.8 10.8% Service & Other Costs 98.0 36.4% 90.6 36.7%
Slide 10: 9M 2023 Results – Balance Sheet
9M’23 Financial Results 9M 2023 Results – Balance Sheet Net invested capital increased by € 61.5 million compared to 31 December 2022 mainly due to the effect of the investment in Ascertia (€ €M 541.0 44.4 million at closing), Defence Tech (€ 25.6 million) and extraordinary 479.6 investments for the
Slide 11: 9M 2023 Results – NFP & FCF
9M’23 Financial Results 9M 2023 Results – NFP & FCF €M NFP Adjusted FCF of continuing ops Main Changes in 9M 2023: 40.3 • + € 3.8M Put Options 36.2 2.8 • - € 3.3M Purchase of Treasury Shares 8.1 • + € 43.7M Disposals Non-recurring • - € 33.3M Dividends components 91.5 Free Cash Flow of 37.4 Continui
Slide 12: 9M 2023 Results – NFP Bridge
9M’23 Financial Results 9M 2023 Results – NFP Bridge €M + € 71.5M Acquisitions - € 3.8M Put Options 91.5 77.6 0.82x NFP/EBITDA1 0.94x (1) Calculated as NFP/LTM EBITDA Adjusted 12
Slide 13: 9M 2023 Results – NFP LTM Bridge
9M’23 Financial Results 9M 2023 Results – NFP LTM Bridge + € 71.5M acquisitions €M 52.5 - € 19.0M Put Options 140.2 91.5 1.65x NFP/EBITDA1 0.94x (1) Calculated as NFP/LTM EBITDA Adjusted 13
Slide 14: Business Units Deep Dive
3 Business Units Deep Dive O. Pozzi | Group Chief Financial Officer
Slide 15: Overview 9M'23
Business Units Deep Dive Overview 9M’23 €M Group Digital Trust Cybersecurity 130.2 62.7 113.9 54.7 32.8 37.7 4.8 8.0 9M 2022 9M 2023 9M 2022 9M 2023 9M 2022 9M 2023 9M 2022 9M 2023 REVENUES EBITDA Adj. REVENUES EBITDA Adj. Business Innovation 79.7 80.6 27.7 22.1 9M 2022 9M 2023 9M 2022 9M 2023 REVEN
Slide 16: Digital Trust 9M'23
Business Units Deep Dive Digital Trust 9M’23 €M 130.2 Margin Margin 113.9 28.8% 28.9% 32.8 37.7 9M 2022 9M 2023 9M 2022 9M 2023 REVENUES EBITDA Adj. • Revenues amounted to 130.2 million euros, up by 14.4% and growing mostly organically (+12.9%) with Ascertia contributing only from August 1st • On th
Slide 17: Cybersecurity 9M'23
Business Units Deep Dive Cybersecurity 9M’23 €M 62.7 54.7 Margin Margin 8.7% 12.7% 4.8 8.0 9M 2022 9M 2023 9M 2022 9M 2023 REVENUES EBITDA Adj. • Revenues amounted to 62.7 million euros, growing 14.7% vs PY. The growth in revenues continued in all three subsidiaries and predominantly in the Cybersec
Slide 18: Business Innovation 9M'23
Business Units Deep Dive Business Innovation 9M’23 + 1.1% €M Margin Margin 79.7 80.6 34.8% 27.5% 27.7 22.1 9M 2022 9M 2023 9M 2022 9M 2023 REVENUES EBITDA Adj. • Revenues amounted to 80.6 million euros with a 1.1% growth • During the first nine months of 2023, Warrant Hub completed the corporate rat
Slide 19: Closing Remarks + Q&A
4 Closing Remarks + Q&A J. Mastragostino | Chief Investor Relations Officer
Slide 20: Guidance is confirmed
Closing Remarks + Q&A Guidance is confirmed Revenues EBITDA Adjusted NFP / EBITDA Adj.* Dividends Inflation 2023 +11-15% +8-12% 0.7-0.8x 30% of Net Profit 6% vs PY *Following the acquisitions that took place in the first nine months, as well as the lower proceeds due to the postponement by managemen
Slide 21: Disclaimer
Disclaimer This company presentation includes: ➢ forward-looking data based on internal management assumptions that are subject to material changes, including changes due to external factors beyond the Group's control ➢ management data, when presented, are identified as such Business unit data are d
Slide 22: Investor Relations Contacts
Tinexta.com Investor Relations Contacts Tinexta Presentation Piazza Sallustio, 9 E-mail info@tinexta.com Josef Mastragostino Download the presentation Roma, 00187, Italia Pec tinexta@legalmail.it Chief Investor Relations Officer Tel. +39.06.42012631 LinkedIn: Tinexta investor@tinexta.com