Slide 1: H1 2024 Results Presentation
© esprinet’ enabling your tech experience H1 2024 Results Presentation September 12, 2024
Slide 2: Forward-looking statements disclaimer
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 about future events, futu
Slide 3: H1 2024 Results
enabling your tech experience H1 2024 RESULTS
Slide 4: Q2-24 market and Group highlights
In Q2-24, the ICT distribution market in Southern Europe returned to growth and Further progressive improvement of working capital thanks to the balance between this positive trend continued in July. inventory level and financing by suppliers. In this context, the Group outperformed the market with
Slide 5: Q2-24 Net Sales by country and product segment
Italy Screens Devices Solutions 14.2% 7.2% 6.3% 1.2% 2.9% 0.9% 0.9% -3.0% -2.4% -2.8% -10.1% -11.4% Spain Screens Devices Solutions Q2-24 Net Sales Q2-24 Gross Var. vs Var. vs H1-24Net Sales H1-24 Gross Var. vs Var. vs 8.3% As Reported Sales(2) Q2-23 Q2-23 As Reported Sales H1-23 H1-23 0.4% Esprinet
Slide 6: Market outlook and ICT spending trends
• The results of the second quarter 2024, confirmed by the market performance recorded in July, seem to indicate the recovery of private consumer purchases and the continued growth of the business segment, in a context that is still in the stabilization phase. • ICT spending in Europe is expected to
Slide 7: H1-24 and Q2-24 gross profit, EBITDA, cash conversion, NFP
H1-24 Gross Profit at 104.8 M€ (-1% compared to H1-23), 5.67% on sales, compared to 5.53% of H1-23. Q2-24 Gross Profit at 51.7 M€ (+1% compared to Q2-23), 5.59% on sales, compared to 5.75% of Q2-23. H1-24 EBITDA Adj. at 24.7 M€ (-1% compared to H1-23); 1.33% on sales (1.31% on sales in H1-23). Q2-24
Slide 8: Esprinet and V-Valley revenues and EBITDA Adj.
100% 224.1 80% 60% 3.53% 482.9 473.0 9.9 2% 1.9 1.3 0.6 46% 0.39% 0.27% 0.12% 216.7 211.0 5.7 3% 0.5 1.8 -1.3 -72% 0.23% 0.85% -0.62% 40% 699.6 699.6 684.0 15.6 2% 2.4 3.1 -0.7 -23% 0.34% 0.45% -0.11% 20% 220.6 201.0 19.6 10% 6.3 5.2 1.1 21% 2.86% 2.59% 0.27% 0.34% 3.5 2.2 1.3 59% 1.6 1.2 0.4 33% 45
Slide 9: Q2 and H1 2024 income statement
• In Q2-24 Gross Profit returns to growth compared to the same (M/€) Q2 2024 Q2 2023 Var. % H1 2024 H1 2023 Var. % period last year benefited from improving IT spending environment and recovery of market share. Gross profit margin stood at 5.59% in Q2-24 and 5.67% in H1-24. Sales from contracts with
Slide 10: Net Invested Capital and working capital
• Net Invested Capital as of June 30, 2024 stands at 534.9 M€ and is covered by: (M/€) 30/06/2024 30/06/2023 31/03/2024 o Shareholders’ equity for 370.9 M€ (353.6 M€ as of June 30, 2023); o Cash negative for 164.0 M€ (negative for 207.2 M€ as of June 30, 2023). Fixed Assets 168.2 158.2 169.1 Operati
Slide 11: Working capital days average trend
100 35 32 31 90 30 28 30 80 26 26 23 24 25 70 22 21 60 20 20 17 50 12 13 13 13 84 88 15 40 78 77 77 80 72 75 75 73 69 70 68 70 68 66 66 30 59 62 62 9 59 58 10 8 8 52 57 54 54 53 54 55 47 47 46 49 55 45 44 42 5 4239 42 44 20 37 38 38 37 3937 3837 3738 4039 39 40 55 36 50 53 54 5 10 0 0 2019 Q3 2019 Q
Slide 12: Working capital days quarterly trend
100 50 90 44 41 40 80 36 33 31 30 70 29 29 25 26 60 22 20 15 50 16 16 14 12 89 90 88 85 85 10 40 82 81 77 76 73 72 72 73 68 70 68 69 2 66 61 66 3 30 59 60 60 59 55 57 5759 59 0 53 54 51 51 51 51 48 48 48 45 45 44 20 40 39 40 4041 40 39 41 4143 37 36 37 3432 34 34 32 -8 -11 24 -10 -10 10 0 -20 2019 Q
Slide 13: ROCE trend
30.0% 25.0% 25.1% 23.2% 20.5% 20.0% 19.7% 17.6% 15.7% 15.8% 16.2% 15.2% 15.0% 14.0% 12.9% 13.3% 11.4% 14.4% 13.1% 10.9% 11.0% 10.0% 9.4% 9.8% 11.6% 10.8% 9.6% 8.2% 8.1% 8.4% 10.2% 9.1% 8.0% 7.0% 8.3% 8.6% 8.6% 8.2% 7.3% 6.9% 7.1% 7.9% 8.0% 7.6% 7.1% 7.1% 6.4% 6.0% 6.7% 5.0% 6.9% 6.3% 5.9% 5.5% 0.0%
Slide 14: Final Remarks
@ esprinet’ ‘enabling your tech experience J FINAL a all REMARKS —_—
Slide 15: Final remarks: market growth, share gains, cost control
• ICT distribution market: back to growth The ICT distribution market in Southern Europe returned to growth in Q2-24, and this positive trend continued in July. • Market share growth In Q2-24, the Group continued to strengthen its market share in Italy and Spain, focusing above all on Solutions and
Slide 16: Q&A
enabling your tech experience Q&A
Slide 17: Upcoming events
EVENT DATE Le Eccellenze del Made in Italy, September 25, 2024 organized by Intermonte IT Value-Added-Reseller (VAR) Day, October 8, 2024 organized by Kepler Cheuvreux 2024 ITALIAN EXCELLENCES Mid Corporate Conference, October 9, 2024 organized by Intesa Sanpaolo Board of Directors November 13, 2024
Slide 18: Thank you
Thank you GRAZIE + GRACIAS - OBRIGADO« DANKE « MERCI « ZA} « iff! « RR © esprinet’ enabling your tech experience