Slide 1: 1Q 2023 Results
1Q 2023 Results Ended March 31, 2023 Milan – May 10, 2023
Slide 2: Agenda
Agenda 1 1Q’23 Highlights and Updates 2 1Q’23 Financial Results J. Mastragostino | Chief Investor Relations Officer O. Pozzi | Group Chief Financial Officer 3 Business Units Deep Dive 4 Closing Remarks + Q&A O. Pozzi | Group Chief Financial Officer J. Mastragostino | Chief Investor Relations Officer
Slide 3: 1Q'23 Highlights and Updates
1 1Q’23 Highlights and Updates J. Mastragostino | Chief Investor Relations Officer
Slide 4: Results at 31/03/2023: key figures
REVENUES € 86.1 M EBITDA Adjusted € 15.0 M (+3% vs PY) EBITDA +10% vs PY € 13.5 M (+17% vs PY) NET PROFIT € 39.7 M NFP € 3.8 M Results at 31/03/2023 vs € 77.6M in FY2022 4
Slide 5: 1Q 2023 Solid start of the year
1Q’23 Highlights and Updates 1Q 2023 Solid start of the year • Results1 showed continued growth: - Revenues at € 86.1M in 1Q’23 (+ 10.1% vs PY); - EBITDA Adjusted at € 15.0M in 1Q’23 (+ 3.1% vs PY) mainly driven by DT and CS, EBITDA2 at € 13.5M in 1Q’23 (+ 17.0% vs PY); - EBITDA Adjusted margin 17.4
Slide 6: 1Q 2023 Results
1Q’23 Highlights and Updates 1Q 2023 Results €M Growth was registered both in Revenues (c. +10%) and EBITDA Adjusted (c. +3%) EBITDA Adjusted amounted to 15.0 million euros up from 14.5 million in PY 86.1 Margin Margin EBITDA Adjusted margin was 17.4% (vs 18.6% in PY) 78.2 18.6% 17.4% EBITDA reporte
Slide 7: 1Q'23 Financial Results
2 1Q’23 Financial Results O. Pozzi | Group Chief Financial Officer
Slide 8: 1Q 2023 Results – Income Statement
1Q’23 Financial Results 1Q 2023 Results – Income Statement LFL 2022 €M 1Q’23 % 1Q’22R % Δ Δ% Revenues 86.1 100.0 78.2 100.0 7.9 10.1 Total Operating Costs 71.1 82.6 63.6 81.4 7.5 11.7 Service & Other Costs 32.6 37.9 29.1 37.2 3.6 12.3 Personnel Costs 38.5 44.7 34.6 44.3 3.9 11.2 EBITDA Adjusted 15.0
Slide 9: 1Q 2023 Results – Balance Sheet
1Q’23 Financial Results 1Q 2023 Results – Balance Sheet €M 479.6 Net invested capital decreased by €8.0 million compared to 31 December 471.6 2022 as a result of the decrease in NWC and Provisions (€14.7 million), Net -1.7% the deconsolidation of ReValuta (€5.0 million), amortization of Other Invest
Slide 10: 1Q 2023 Results – NFP & FCF
1Q’23 Financial Results 1Q 2023 Results – NFP & FCF €M NFP Adjusted FCF of continuing ops Main Changes in 1Q 2023: • - €2.0M Put Options 22.3 22.8 77.6 1.6 • - €1.6M Purchase of Treasury Shares 1.9 • + €42.1M Disposals Non recurring Costs & • - €1.1M Adjustments to leasing contracts Extraordinary Ta
Slide 11: 1Q 2023 Results – NFP Bridge
1Q’23 Financial Results 1Q 2023 Results – NFP Bridge €M 77.6 2.0 + € 2.0M Put Options 0.9 0.0 1.1 -22.8 1.6 1.0 0.2 1.6 13.0 -0.3 -42.1 3.8 -30.0 0.82x NFP/EBITDA1 0.04x (1) Calculated as NFP/LTM EBITDA Adjusted 11
Slide 12: 1Q 2023 Results – NFP LTM Bridge
1Q’23 Financial Results 1Q 2023 Results – NFP LTM Bridge €M • - € 13.9M acquisitions 0.0 229.5 30.6 • +€ 13.9M Put Options 21.0 5.1 -49.9 9.7 0.9 9.2 13.0 -4.5 -4.3 -171.6 -84.9 3.8 2.26x NFP/EBITDA1 0.04x (1) Calculated as NFP/LTM EBITDA Adjusted 12
Slide 13: Business Units Deep Dive
3 Business Units Deep Dive O. Pozzi | Group Chief Financial Officer
Slide 14: Overview 1Q'23
Business Units Deep Dive Overview 1Q’23 €M Digital Trust Cybersecurity Group 42.4 20.7 38.0 18.0 10.4 11.6 1.2 2.1 1Q 2022R 1Q 2023 1Q 2022R 1Q 2023 1Q 2022R 1Q 2023 1Q 2022R 1Q 2023 REVENUES EBITDA Adj. REVENUES EBITDA Adj. Business Innovation 22.6 24.0 6.4 4.9 1Q 2022R 1Q 2023 1Q 2022R 1Q 2023 R =
Slide 15: Digital Trust 1Q'23
Business Units Deep Dive Digital Trust 1Q’23 €M Margin Margin 27.3% 27.4% 42.4 38.0 10.4 11.6 1Q 2022 1Q 2023 1Q 2022 1Q 2023 REVENUES EBITDA Adj. • Revenues amounted to 42.4 million euros, up by 11.6% with the contribution of Sferabit (Visura’s acquisition) and a new partnership with CRIF relating
Slide 16: Cyber Security 1Q'23
Business Units Deep Dive Cyber Security 1Q’23 €M 20.7 Margin Margin 18.0 6.5% 10.2% 1.2 2.1 1Q 2022 1Q 2023 1Q 2022 1Q 2023 REVENUES EBITDA Adj. • Revenues amounted to 20.7 million euros, growing 14.9% vs PY and registered very positive performance across all lines (Digital Transformation, Advisory,
Slide 17: Business Innovation 1Q'23
Business Units Deep Dive Business Innovation 1Q’23 €M 22.6 24.0 Margin Margin 28.3% 20.4% 6.4 4.9 1Q 2022 1Q 2023 1Q 2022 1Q 2023 REVENUES EBITDA Adj. • Revenues amounted to 24 million euros (+6.4% vs PY). In 1Q 2023, Warrant carried out a merger by incorporation of 5 companies (Warrant Innovation L
Slide 18: Closing Remarks + Q&A
4 Closing Remarks + Q&A J. Mastragostino | Chief Investor Relations Officer
Slide 19: Guidance is confirmed
Closing Remarks + Q&A Guidance is confirmed Revenues EBITDA Adjusted NFP / EBITDA Adj. Dividends Inflation 2023 +11-15% +8-12% Cash positive 30% of Net Profit 6% vs PY 2025 Low to mid-double digit double digit Cash positive 35% of Net Profit Assumed at 3% 2022-2025 CAGR by end of the plan by end of
Slide 20: Financial Policy – Business Units' Financial Targets – Organic
Closing Remarks + Q&A Financial Policy – Business Units’ Financial Targets – Organic Revenues EBITDA Adjusted Key Highlights Digital Trust +10% +11% Continues to generate healthy double-digit growth 2023 Cybersecurity +30% +43% Strong top line followed by even more solid EBITDA adjusted growth vs PY
Slide 21: Disclaimer
Disclaimer This company presentation includes: ➢ forward-looking data based on internal management assumptions that are subject to material changes, including changes due to external factors beyond the Group's control ➢ management data, when presented, are identified as such Business unit data are d
Slide 22: Investor Relations Contacts
Tinexta.com Investor Relations Contacts Tinexta Presentation Piazza Sallustio,9 E-mail info@tinexta.com Josef Mastragostino Download the presentation Roma, 00187, Italia Pec tinexta@legalmail.it Chief Investor Relations Officer Tel. +39.06.42012631 LinkedIn: Tinexta investor@tinexta.com