Slide 1: 2022 first quarter results
2022 first quarter results INVESTORS LIVE STREAMING PRESENTATION
Slide 2: Disclaimer
disclaimer This presentation has been prepared by Eurotech S.p.A. (or “Eurotech”) and has to be read in conjunction with its oral presentation. The information contained in this presentation does nor purport to be comprehensive. Neither Eurotech nor any of its officers, employees, advisers or agents
Slide 3: Our journey on the long run
our journey on the long run 2022: transitioning Strategy building blocks execution Embedded business sustaining double digit growth Creating and closing healthy Edge IoT pipeline Close 1st M&A deal 2023: transforming Edge IoT growing stronger than Embedded Sustainable re-occurring revenues growing d
Slide 4: Financial highlights
financial highlights Double digit growth: +35% YoY, +32% net of forex effect 3.5M€ orders not delivered due to lack of components driving a weaker mix Gross Margin negatively affected by components shortage premium costs and a different product mix OPEX growing YoY in line with Management estimates
Slide 5: Line of sight @ 83M€
line of sight Invoiced + Backlog for the year allowing visibility @83M€ Smart agriculture in USA still strong Strong order intake in H2 2021 in Japan coming to fruition but with lower marginality than @83M€ history linked to PPV effect Volume of Gateways shipped in FY2022 confirmed at +40% YoY SW re
Slide 6: Business update
business update Autonomous driving business coming back: 5.2M€ orders received, 3.6M€ billing in 2022 33M€ order intake in Q1 2 new IoT design wins in medical & industrial automation worth 5M€ over next 4Y of which 2.5M€ software 18 new IoT customers in Pilot and POC stage Frontline transformation:
Slide 7: Financial
UNLEASHING THE POWER OF THE EDGE
Slide 8: Revenues growing double digit
revenues growing double digit 4.0 0.3 0.2 #IoT trend confirmed in line with FY2021 12.9 17.4 #Growth driven by Embedded business Q1 FX IoT Embedded Q1 ‘21 ‘22 #8
Slide 9: US and Japan growing more than EU
US and Japan growing more than EU #US sustained by solid trend on legacy business other other EU EU 11% 7% 18% 15% #Japan boosted by strong q1 q1 order intake in second half of 2021 2022 2021 35% 41% JP 37% 36% US JP US # Europe potential still not expressed in this quarter, growth will come to frui
Slide 10: GPM hit historic low, but is set to reverse trend
GPM hit historic low, but is set to reverse trend GPM @ 48%-50% PPV & Shortage FY-22 GPM in standard Shortage mitigation actions back to market plus Change kicking-in standard conditions in mix plus Mix improving net of PPV #PPV mitigation actions done Price increase 50.0 48.9 Redesign for dual sour
Slide 11: EBITDA hit by low GPM
EBITDA hit by low GPM 2.1 - 1.3 1.1 - 0.7 0.1 - 1.1 - 1.0 - 1.8 EBITDA Non EBITDA FX Volume Mix & Net EBITDA 1Q Recur 1Q PPV Opex 1Q 21 ring 21 22 costs adj #11
Slide 12: Solid balance sheet
solid balance sheet Net Capital Employed All values in € million NFP impacted by 3.5M€ NWC increase Non currents Long-term assests NWC Liabilities 0.3 101.0 99.2 13.9 10.4 -22.7 6.2 -4.9 -25.1 110.4 106.9 -0.5 1.2 FY FX Cashflow from Cashflow for Q1 ‘21 operation investment ‘22 -6.2 -1.2 Shareholder
Slide 13: key
@eurotech UNLEASHING THE POWER OF THE EDGE
Slide 14: Key takeaways
key takeaways Good start in Q1, double digit Shortage still risk #1 growth on revenues YoY Solid 2022 backlog allows Strengthening of go-to-market visibility @83M€ with some organisation progressing well upsides still possible throughout 2022 Components shortage hit Q1 Lead generation increasing, as
Slide 15: Ready to take questions
@eurotech UNLEASHING THE POWER OF THE EDGE qsxa- -Teady to take Bahction’ |
Slide 16: Thank you
@eurotech thank — yon —