Technogym S.p.a · MIL:TGYM
Technogym — H1 2022 Earnings Presentation
25 slides from Technogym's earnings presentation, Aug 3, 2022
Slide 1: Technogym Financial Results H1 2022
Technogym Financial Results H1 2022 Investor presentation Cesena, August 3rd 2022
Slide 2: Disclaimer
Disclaimer This presentation is being furnished to you solely for your information and may not be reproduced or redistributed to any other person. This presentation might contain certain forward-looking statements that reflect the Company’s management’s current views with respect to future events an
Slide 3: Technogym market update
SPOR STATU T S HEALTH FITNE Technogym market update Strictly private & confidential 3
Slide 4: Recovery ongoing across all the BtoB segments
Recovery ongoing across all the BtoB segments Hotels activity improved driven by re-openings with daily average rates already above pre-COVID level Wellness Real Estate / Residences proved to be in a better shape than general construction with a continuous interest from developers Corporates are inv
Slide 5: Home demand in line with pre-pandemic trend
Home demand in line with pre-pandemic trend Demand for at-home training solutions is still high in a normalized market scenario across all the geographies where the company operates; Gradual international expansion is still the key to penetrate new customers leveraging the Technogym unique Luxury &
Slide 6: Technogym to catch new opportunities by ……..
Technogym to catch new opportunities by …….. The new biocircuit for Health & Medical fitness Strictly private & confidential 6
Slide 7: Technogym Ecosystem to catch new opportunities by ……
Technogym Ecosystem to catch new opportunities by …… New MyWellness CRM Platform & Technogym App Technogym App Clubs Technogym App B2C2B The A.I. based Technogym Smart Coach, guides end-users among Sessions, Routines and Signature programs customizing their wellness journey according to equipment av
Slide 8: Technogym content to catch new opportunities by ……
Technogym content to catch new opportunities by …… Training experiences video on-demand library After years supporting professional operators Clubs Technogym started populating the Technogym Live platform with own filmed Precision Training content: any training goal can now be achieved quicker and e
Slide 9: Technogym products to catch new opportunities by ……
Technogym products to catch new opportunities by …… New solutions for cyclists & home fitness Clubs New home products Technogym is enlarging its product and solution portfolio to serve different end-users needs Strictly private & confidential 9
Slide 10: In Sport Performance with high intensity training format
In Sport Performance with high intensity training format Strictly private & confidential 10
Slide 11: In Fitness with Cardio & Strength training
In Fitness with Cardio & Strength training Strictly private & confidential 11
Slide 12: The widest ecosystem of SW, Content, Service & Equipment
The widest ecosystem of SW, Content, Service & Equipment Strictly private & confidential 12
Slide 13: Financial Results H1 2022
Financial Results H1 2022 Strictly private & confidential 13
Slide 14: H1 2022 results at a glance
H1 2022 results at a glance € million H1 - 2022 vs H1 - 2022 H1 - 2021 H1 - 2021 Revenue (€m) 325.2 276.3 +17.7% EBITDA ADJ (€m) 51.8 48.0 +8.0% Margin (%) 15.9% 17.4% EBIT ADJ (€m) 30.3 27.7 +9.2% Margin (%) 9.3% 10.0% Net Profit ADJ (€m) 25.0 20.0 +24.7% Margin (%) 7.7% 7.3% Net Financial 46.4 70.
Slide 15: Top line grew by c. 18% in H1-2022
Top line grew by c. 18% in H1-2022 € million Revenue Key comments ▪ Strong rebound in BtoB led by a 17.7% double-digit growth in all the sub- 325.2 segments, from Health to Hotels, from 317.5 Residential to Clubs 276.3 14.9% ▪ North America is steering the growth coupled with remarkable growth in Eu
Slide 16: Strong revenue growth in North America
Strong revenue growth in North America € million 17.7% H1 2022 vs. Y-1 325.2 276.3 150.8 EUROPE +18.0% (46%) (excl. ITA) 127.8 (46%) 60.1 (18%) APAC +13.0% 53.2 (19%) 45.3 29.7 NORTH AMERICA +52.6% (14%) (11%) 28.0 32.1 +14.4% MEIA (10%) (10%) 31.5 29.4 ITALY -6.8% 5.9 (11%) 7.5 (9%) LATAM +26.4% (2
Slide 17: BtoB continue in a sound growth path
BtoB continue in a sound growth path € million 17.7% H1 2022 vs. Y-1 325.2 276.3 241.4 +34.8% (74%) BtoB 179.0 (65%) 97.2 -13.8% 83.8 (35%) (26%) BtoC H1 2021 H1 2022 Strictly private & confidential 17
Slide 18: Fieldsales and Distributors benefited from BtoB
Fieldsales and Distributors benefited from BtoB € million 17.7% H1 2022 vs. Y-1 325.2 276.3 207.3 FIELD SALES +30.2% (64%) 159.2 (58%) 68.6 77.8 +13.4% (25%) (24%) DISTRIBUTORS 42.3 33.5 INSIDE SALES -20.9% (15%) (10%) 6.1 6.6 RETAIL +8.4% (2%) (2%) H1 2021 H1 2022 Strictly private & confidential 18
Slide 19: Statutory Profit & Loss H1 2022
Statutory Profit & Loss H1 2022 (€m) June 2021 June 2022 Delta 2022 vs 2021 Total revenue 276,3 % on sales 325,22 % on sales 49,0 17,7% Comments Cost of raw, ancillary and consumable materials and (91,0) (32,9%) (108,2) (33,3%) (17,2) 18,9% goods for resale of which (cost) not recurrent (0,0) (0,0)
Slide 20: Trade Working Capital
Trade Working Capital € million Trade Working Capital evolution Comments Inventories Trade Receivables Trade Payable Inventories: growth driven by inflation 91.5 components and raw material to avoid 55.2 supply chain disruption and finished 111.1 products to allow fast delivery time to our 102.3 cus
Slide 21: Capex: increasing investments in Digital and IT
Capex: increasing investments in Digital and IT € million Comments % on Revenues Tangible Capex 4.0% 4.7% 15.2 • Tools and molds for new products • Production lines and manufacturing equipment 11.2 6.9 Intangible Capex 3.9 • Digital and content development • IT activities • New products development
Slide 22: Net Financial Position
Net Financial Position € million Net Financial Position Comments 70.4 Cash, cash equivalent and deposit stand at € 154m as of June 2022 46.4 Bank debt decreased by € 46m 203.5 compared to June 2021 153.9 Other financial debts: -28.8 ▪ Leasing exposure at € 48.8m vs € -75.1 32.7m of June 2021 -78.7 ▪
Slide 23: Net Financial Position path in H1
Net Financial Position path in H1 € million -49.6 -44.7 50.5 24.0 120.0 -33.8 -15.2 96.0 -9.7 75.4 -31.6 -4.9 46.4 -28.9 NFP DEC. IFRS16 NFP DEC. CF from NWC Capex Taxes Dividends Financial, NFP JUN 2022 IFRS16 NFP JUN 2021 Lease debt 2021 Excl. operat. paid leases costs Excl. IFRS16 Lease debt 2022
Slide 24: Balance Sheet as of June 2022 (vs. Dec-21 and June-21)
Balance Sheet as of June 2022 (vs. Dec-21 and June-21) % on LTM % on LTM % on LTM €m June 2021 Dec 2021 June 2022 Revenues Revenues Revenues Inventories 102,3 18,2% 108,5 17,8% 111,1 16,8% Trade receivables 83,3 14,8% 104,2 17,0% 114,1 17,3% Trade payables (130,4) (23,2%) (159,8) (26,1%) (133,6) (20
Slide 25: Strictly private & confidential – 25
Strictly private & confidential – 25