Gpi Spa · MIL:GPI
Gpi Spa — Investor Day (April 2025)
27 slides from Gpi Spa's investor day presentation, Apr 1, 2025
Slide 1: FY2024 Results Capital Markets Day
FY2024 RESULTS C a p i t a l M a r ke t s D a y Tr e n t o , 1 A p r i l 2 0 2 5 Video Conference
Slide 2: Agenda
Agenda GPI OVERVIEW 1 F. Manzana CEO FY 2024 MAIN RESULTS 2 M. Santoro GM 3 Q&A SESSION
Slide 3: Agenda
Agenda GPI OVERVIEW 1 F. Manzana CEO FY 2024 MAIN RESULTS 2 M. Santoro GM 3 Q&A SESSION
Slide 4: GPI Overview: Key Messages
4 GPI OVERVIEW: KEY MESSAGES 1 Leader in Healthcare Software in Italy (successful Consip/NRRP tenders acquisitions). Source: Netconsulting Cube 2024 Sustained growth (CAGR 2020-2024): Revenue 17%, EBITDA 27%. 2 M&A 2017-2024 €400M Improvement of marginality (EBITDA/Revenue) from 18.4% to 20.6% 3 tha
Slide 5: GPI's Vision, Mission & Values
5 GPI'S VISION, MISSION & VALUES VISION MISSION Developing innovative software and Enhancing quality of life by leading technologies to streamline healthcare healthcare’s digital transformation. interactions and optimize prevention, diagnosis, and treatment. VALUES ETHICS RESPONSIBILITY CARE FOR PEO
Slide 6: Revenue and EBITDA: Impressive Double Digit Growth
6 REVENUE AND EBITDA: IMPRESSIVE DOUBLE DIGIT GROWTH Significant growth in 2024 mainly thanks to SBA Acceleration in 2022-2023 Software and the 100% inclusion of Evolucare thanks to NRPP kick-off and financials and strong growth of Tesi Group Tesi and Evolucare acquisitions 510 €M 433 20.6% Focus on
Slide 7: Global Presence at a Glance
7 GLOBAL PRESENCE AT A GLANCE Revenue Breakdown (FY24, %) Gpi global footprint and international reach By geography Main geographies Other countries 33% Software Offices international 22% Italy UK HQs revenues Germany Belgium Switzerland Poland RoW 78% France Austria Italy Spain By client type Malta
Slide 8: Market Leadership
8 MARKET LEADERSHIP GPI is the Italian market leader in the healthcare software and healthcare BPO markets in the 2021 2024 period. SBA HEALTHCARE SOFTWARE HEALTHCARE Business Process Outsourcing Year 2021 2024 2021 2024 Italian Healthcare €1.2B €1.7B €290M €304M IT Mkt Size1 1° 1° 1° 1° Market Shar
Slide 9: Healthcare IT Market Size and Expected Growth Rate
9 HEALTHCARE IT MARKET SIZE AND EXPECTED GROWTH RATE Market Size Expected CAGR 2024 (€B) 2024-2030 (%) Global Market > 60 8-10% Main Target Countries for Development > 25 11-12% France, DACH, USA, Italy Italy ca. 1.7 > 11% Sources: Statista – Digital Health; NetConsulting – ICT Research; GrandivewRe
Slide 10: Offering Framework
10 OFFERING FRAMEWORK DIVERSIFICATION: CORE OFFERING: VERTICAL OFFERING: PROFITABLE BUSINESS AROUND SOLUTIONS PRODUCTS HEALTHCARE MODEL EHR/EMR (Electronic Health Record, Electronic BLOOD CARE & TELEMONITORING Medical Record) MANAGING DIAGNOSTICS (Human Resources, Booking, Electronic (Laboratory inf
Slide 11: 4 Pillars – Strategic Business Plan 2025-2029
11 4 PILLARS – STRATEGIC BUSINESS PLAN 2025 - 2029 1. SBA Software. Consolidation of the national leadership position. 2. Capture additional value from recent acquisitions whilst developing vertical global products (e.g. Blood, Diagnostics(1), Critical care) and expanding the international presence
Slide 12: Agenda
Agenda GPI OVERVIEW 1 F. Manzana CEO FY 2024 MAIN RESULTS 2 M. Santoro GM 3 Q&A SESSION
Slide 13: FY 2024: Key Messages
13 FY 2024: KEY MESSAGES 1 GPI, A LEADING PLAYER IN DIGITAL HEALTHCARE. Strengthening our software leadership in Italy and expanding internationally, INNOVATIVE, HIGH-QUALITY SOFTWARE SOLUTIONS. 2 Creating value for customers and patients through continuous innovation and security. STRONG DOUBLE DIG
Slide 14: FY2024: Strong Double Digit Growth
14 FY2024 : STRONG DOUBLE DIGIT GROWTH Revenue € 509.9 M +17.7% €M FY24 FY23 o/w Software € 304.1 M restated (1) • Driven by organic (+10.0%) and inorganic growth (+7,7%); Revenue & other income 509.9 433.4 • Software increased by € 76.7 M (+33.7%). EBITDA 104.8 79.8 EBITDA: € 104.8 M +31.3% | margi
Slide 15: SBA Software: FY24 vs FY23
15 SBA SOFTWARE: FY24 vs FY23 REVENUE EBITDA +77 M +24M Focusing on Software enhanced the Group’s profitability +34% Organic +19% +35% Software 304 29.9% EBITDA margin 29.6% • Retention 96% 227 91 • Tender Win Ratio 44% 67 • Avarage Contract term 1-3 years • Public customers 79% FY 23 FY 24 FY 23 FY
Slide 16: SBA Software: Product Area Break Down
16 SBA SOFTWARE: PRODUCT AREA BREAK DOWN Segments % SW Rev. ’24E Key highlights ◼ Patient-centric Hospital Information System (HIS) providing real-time access to health data for professionals, ensuring 39.1% coordination of patient care throughout their hospital stay. It includes various integrated
Slide 17: Other SBAs FY24 vs FY23
17 OTHER SBAs FY24 vs FY23 Care Automation Robots for Pharmacy Warehouse Automation • Optimizing workflows of the healthcare system • Retention (BPO) 93% (hospital & retail) BPO healthcare administrative svc. Access to Care • Tender Win Ratio 30% ICT HW & SW maintenance & assistance 164 162 System s
Slide 18: Consolidating the Italian Leadership
18 CONSOLIDATING THE ITALIAN LEADERSHIP Centralization of Tendering Procedures in Italy Since 2021, Italy's public tendering has become concentrated within the national central procurement body, Consip. 17.5 Major Health Digitization Tenders Consip has launched five nationwide tenders for health dig
Slide 19: Innovation: Artificial Intelligence to Evaluate, Plan, Predict, and Manage Critical Issues
19 INNOVATION: ARTIFICIAL INTELLIGENCE TO EVALUATE, PLAN, PREDICT, AND MANAGE CRITICAL ISSUES Gpi4AI uses emerging Artificial Intelligence technologies to create cutting-edge, versatile and highly effective solutions that help healthcare organizations improve processes and services, benefiting the s
Slide 20: Software Drives GPI's Increasing Geographical Presence
20 SOFTWARE DRIVES GPI’S INCREASING GEOGRAPHICAL PRESENCE +44% YoY 17.5 UE € 100 M € 71 M € 29 M 23% revenues generated EU revenues extra-EU revenues Software abroad: 167.1 FY 24 Extra UE 33% of Software’s mainly mainly Italy 67% 10% total revenues France, Spain, DACH Mexico, USA, (Germany, Austria,
Slide 21: Financial Highlights FY24
21 FINANCIAL HIGHLIGHTS FY24 Fixed Assets €M FY24 FY23 • Increase mainly due to investments in new products and restated (1) innovative solutions, particularly SBA Software. Fixed assets 453.2 449.4 Net Working Capital Net working capital 263.1 224.6 • (+) increase in trade receivables and contract
Slide 22: Net Debt Bridge (€M)
22 NET DEBT BRIDGE (€M) Strong compliance with covenants The impact €0.50 on total p.s. revenue Ordinary decreased, o/w + mainly due €30.4M €0.35 to a Intang. p.s. reduction in NWC Extra- net Increase Mainly ordinary financial mainly R&D Net expenses, driven by Proceeds driven by activities from the
Slide 23: Key Points
23 KEY POINTS Improve competitive position in Europe (Software) Software & European Market Integration of acquired companies Strengthening Group Corporate Financial Control Organization & Cash Generation Improve organization and operations for Accounts Receivable & NWC management Strengthen Software
Slide 24: Main Targets Strategic Business Plan 2025-2029
24 MAIN TARGETS STRATEGIC BUSINESS PLAN 2025-2029 2027E 2029E REVENUE >€600m >€700m (o/w international) (25% - 27%) (27% - 30%) ECONOMICS EBITDA >22% >25% ca. 7-9% ca. 7-9% CAPEX of revenue of revenue ROIC > 11% > 15% DIVIDENDS Stable distribution DEBT NFP/EBITDA < 2.7x < 2.5x
Slide 25: Agenda
Agenda GPI OVERVIEW 1 F. Manzana CEO FY 2024 MAIN RESULTS 2 M. Santoro GM 3 Q&A SESSION
Slide 26: 2024 Summary
26 2024 SUMMARY € 510 M € 105 M 20.6% € 400 M Revenue EBITDA EBITDA margin M&A + 77 M + 24 M + 220 bps 2017-2024 YoY YoY YoY Proposed Dividend € 0.50 per share • SUSTAINED GROWTH • LEADER IN HEALTHCARE SOFTWARE • STRONG INTERNATIONAL IMPULSE Innovation for Sustainable Healthcare
Slide 27: Disclaimer
27 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 busi