Slide 1: H1 2021 Results Conference Call
© esprinet’ enabling your tech experience H1 2021 Results Conference Call September 7, 2021
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation may contain forward-looking statements that are subject to risks and uncertainties, including those pertaining to the anticipated benefits to be realized from the proposals described herein. Forward-looking statements may include, in particular, statements
Slide 3: Esprinet
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Slide 4: H1 2021 in a snapshot
H1 2021 in a snapshot • H1 2021 P&L performance in further acceleration: The results of constant and consistent discipline in balance sheet management: I. Sales up +22% yoy to 2,237 M€ ▪ Q2 2021 sales of 1,071 M€ (+16% yoy) with a remarkable • Cash Cycle closes at 9 days, with an improvement of -3 d
Slide 5: H1 2021 Financial Highlights
H1 2021 Financial Highlights (M/€) 30/06/2021 30/06/2020 Var. % (M/€) 30/06/2021 30/06/2020 31/03/2021 Sales from contracts with customers 2,236.8 1,834.7 22% Fixed Assets 139,3 117,6 137,9 Gross Profit 117.3 82.8 42% Operating Net Working Capital 232,2 61,5 235,1 Gross Profit % 5.24% 4.51% Other cu
Slide 6: Working Capital Metrics 4-qtr average
Working Capital Metrics 4-qtr average • As of June 30, 2021 working capital days stand at 9 improving year-on-year (-3) • Compared to Q1 2021 metrics, Idays decreased -1 day, DSO increased +1 day and DPO decreased -4 days for a final results at 9 days • The impact of the favorable mismatch between D
Slide 7: Working Capital Metrics quarter-end
Working Capital Metrics quarter-end • As of June 30, 2021 working capital days stand at 16. • Inventory days amount to 45 days, DSOs amount to 40 days, the DPOs stand at 70 days. Idays (Inventory Days): quarter-end Inventory / quarterly Sales * 90 DSO (Days of Sales Outstanding): quarter-end Trade R
Slide 8: ROCE Evolution Up To H1 2021
ROCE Evolution Up To H1 2021 Average Capital Employed last 5 quartes: equal to the average of “Loans” at the closing date of the period and at the four previous quarterly closing dates NOPAT Adj last 4 quarters: equal to the sum of the EBIT of the last four quarters less adjusted taxes. ROCE: NOPAT
Slide 9: Strategy & Execution
@ esprinet’ enabling your tech experience STRATEGY & EXECUTION
Slide 10: ROCE Driven Strategy
ROCE Driven Strategy CORE BUSINESS IN PROGRESS The tangible result of the value of • Customer Satisfaction • Consumption Model: Cloud, DaaS and the strategy and its execution Managed Print Service to grow profitability • PCs & Smartphones: volumes without additional fixed costs • Outsourcing of logi
Slide 11: Drivers of profitability
Drivers of profitability • Taking advantage from the trend of digital transformation, accelerated by the pandemic, which is seeing more and more companies with investments in infrastructures and in high-margin business lines, the EBITDA Adj. grew organically by 59% • At the same time, the constant a
Slide 12: Sales Evolution in H1 2021
Sales Evolution in H1 2021 Esprinet Market(*) Esprinet Market(*) Esprinet Market(*) Retailers & 1,400 M€ Italy 18% 16% 1,221 M€ IT Clients 20% 20% 945 M€ 13% 26% E-tailers Consumer 776 M€ Spain 26% 19% 692 M€ 17% 24% 1,375 M€ IT Resellers 33% 11% Electronics 40 M€ Portugal 76% 13% Advanced 57% 4% 40
Slide 13: Sales Evolution in Q2 2021
Sales Evolution in Q2 2021 Esprinet Market(*) Esprinet Market(*) Esprinet Market(*) Retailers & 667 M€ Italy 14% 11% 565 M€ IT Clients 7% 5% 464 M€ 3% 18% E-tailers Consumer 370 M€ Spain 17% 17% 349 M€ 12% 27% 651 M€ IT Resellers 28% 10% Electronics 23 M€ Portugal 100% 13% Advanced 67% 13% 200 M€ So
Slide 14: Drill down on sales
Drill down on sales • Sales of Advanced Solutions grew by 57% compared to H1 2020 (+67% in Q2 2021 compared to Q2 2020), in a market(*) that has changed its course and after a -4% in Q1 grew by 13% in Q2 In detail, the growth in the first half was: - Hardware (networking, storage, servers and others
Slide 15: Guidance
Guidance ❑ In light of the permanent uncertainty linked above all to the evolution of consumer demand ❑ In light of the difficulties related to the prolonged level of shortage of electronic components, which will affect the availability of PCs but also of other product categories and which we do not
Slide 16: Share performance since launch of ROCE driven strategy
Share performance since launch of “ROCE driven strategy” ESPRINET (PRT:IM) FTSE Italia STAR Index 16
Slide 17: Upcoming Events
Upcoming Events Industrial & Healthcare Day 2021 September 8, 2021 organized byBorsa Italiana S.p.A. Berenberg Pan-European Discovery Conference September 8-9, 2021 organized by Berenberg Amsterdam Virtual MidCap Conference September 20, 2021 organized by Intermonte STAR Conference Fall 2021 October
Slide 18: Esprinet
e ® @ esprinet enabling your tech experience
Slide 19: Thank you
Thank you GRAZIE + GRACIAS - OBRIGADO« DANKE « MERCI « ZA} « iff! « RR © esprinet’ enabling your tech experience