Amplifon SpA · MIL:AMP
Amplifon SpA — Debt Investor Presentation (March 2021)
17 slides from Amplifon SpA's debt investor presentation, Mar 9, 2021
Slide 1: Update for Credit Investors Q4 & FY 2020 Results
Update for Credit Investors Q4 & FY 2020 Results Milan, March 9th, 2021 amplifon
Slide 2: Disclaimer
Disclaimer The following applies to this document, the oral presentation of the information in this document by Amplifon S.p.A. (the “Company”) or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the “Information”). In accessi
Slide 3: ▪ ▪ ▪ ▪ ▪ 1000.0 4.00 ▪ 800.0 3.00 600.0 ▪ 2.00 400.0
▪ ▪ ▪ ▪ ▪ 1000.0 4.00 ▪ 800.0 3.00 600.0 ▪ 2.00 400.0 ▪ 1.00 200.0 0.0 0.00
Slide 4: Strong recovery and excellent structural profitability improvement
Strong recovery and excellent structural profitability improvement Decisive reaction to the unprecedent Covid-19 pandemic further strengthening Amplifon’s unique positioning = Strong finish of the year despite new lockdown measures across markets and extremely challenging comparison basis Revenues u
Slide 5: FY 2020 Financial highlights
FY 2020 Financial highlights Swift recovery and strong ability in managing cost base and cash flow Data in €m FY 2020 FY 2019 A% REVENUES 1555.5 17321 10.2% Organic growth -ILO% Acquisitions 41.7% FX -0.9% EBITDA Recurring 371.0 392.8 5.6% Margin % 23.8% 22.7% - © Amplifon S.p.A. March 9th, 2021 Rev
Slide 6: Q4 2020 Financial highlights
Q4 2020 Financial highlights Best-ever profitability reflecting structural improvement thanks to the decisive actions on the cost structure = Revenues up ~+3% at constant FX, despite new lockdown Data in €m Q4 2020 Q4 2019 bh measures implemented across different markets * Organic growth at ~+2%, we
Slide 7: Financial results by Region: EMEA
Financial results by Region EMEA: solid top-line performance, well above market, and excellent profitability despite new lockdown measures at year-end = Revenues down 10.5% in LC in 2020 , 9 Pata in ém FY 2020 FY 2019 A% * Organic performance at -IL6% due to Covid-I9 outbreak, well above REVENUES 12
Slide 8: Financial results by Region: Americas
Financial results by Region AMERICAS: varied impact of Covid-I9 across the Region, with the core US market showing a strong recovery and back to solid organic growth in LC in H2 = Revenues down 8.6% in LC in 2020, above market Data in €m FY 2020 FY 2019 A% * Organic performance at -9%, due to Covid-
Slide 9: Acquisition of PJC Hearing: an exciting opportunity to further strengthen Amplifon's position in the US
Acquisition of PJC Hearing: an exciting opportunity to further strengthen Amplifon’s position in the US Expanding our direct retail footprint to drive growth and value to the entire network Startegic rationale = Further strengthens Amplifon’s position in the largest hearing care market worldwide, th
Slide 10: Financial results by Region: APAC
Financial results by Region APAC: leading the recovery on the top-line and showing an outstanding operating leverage, with an excellent finish of the year = Revenues flat in LC in 2020 * Organic performance at -8%, strongly accelerating at year-end REVENUES 182.4 187.8 -2.9% » M&A contribution at +7
Slide 11: Q4 2020 Financial results
Q4 2020 Financial results Record profitability in all P&L lines with EBITDA, EBIT, Net Profit and EPS growing double-digit vs Q4 2019 Data in €m Q4 2020 Q4 2019 A% Rec. (unless specified) Recurring Reported REVENUES 513.4 507.3 507.3 +1.2% EBITDA! 142.6 130.2 126.4 +9.6% Margin % 27.8% 25.7% 24.9% -
Slide 12: FY 2020 Financial results
FY 2020 Financial results Excellent results despite extraordinary Covid-19 impact on business Data in €m FY 2020 FY 2019 A% Rec. (unless specified) Recurring Reported REVENUES 1,555.5 1,732.1 1,732.1 10.2% EBITDA! 371.0 392.8 370.6 -5.6% Margin % 23.8% 22.7% 2A% - ORDINARY D&A (163.7) (153.8) (155.9
Slide 13: FY 2020 Financial results: Free cash flow
FY 2020 Financial results Record Free cash flow, up +71.4% vs PY, leading to a reduction in NFP of over €150 million vs December 2019 Data in €m FY 2020! FY 20197 A Operating cash flow before repayment of lease liabilities 386.9 319.8 67.1 Repayment of lease liabilities (72.8) (81.0) 8.2 Operating c
Slide 14: FY 2020 Financial results: net debt and leverage
FY 2020 Financial results Significant reduction in NFP and leverage at 1.63x Data in €m 31/12/2020 31/12/2019 Cash (545.0) (138.4) Short-term debt 75.4 172.4 Medium/long-term debt 1103.3 752.6 Net financial debt 633.7 786.7 Lease liabilities 422.8 424.6 Total financial debt & lease liabilities 1,056
Slide 15: Company's financial solidity further reinforced
Company’s financial solidity further reinforced Following the €350m successful 7-yr bond placement, 2020 refinancing secured additional ~€380 million credit lines and extended maturities for €270 million Committed credit lines after refinancing (€m) Committed credit lines maturity after refinancing
Slide 16: 2021 Outlook
2021 Outlook Entering 202I with even stronger foundations = The current developments of the pandemic and the rise of new variants as well as the uncertainties on the timing for the rol-out of the Covid-I9 vaccines in many countries limit the visibility on the next months and require us, as in the re
Slide 17: Investor Relations and Sustainability Contacts
Investor Relations and Sustainability Contacts FRANCESCA RAMBAUDI AMANDA HART GIRALDI FRANCESCO ROMEO OLGA LEPECHKINA Investor Relations Director Investor Relations Manager Sustainability Manager Assistant Tel: +39 02 5747 2261 Tel: +39 02 5747 2317 Tel: +39 344 2723 416 Tel: +39 02 5747 2542 france