Slide 1: 9M & Q3 2024 Results Presentation
© esprinet’ enabling your tech experience 9M & Q3 2024 Results Presentation November 14, 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: 9M & Q3 2024 Results
enabling your tech experience 9M & Q3 2024 RESULTS
Slide 4: Q3 2024 highlights: market outperformance and growth in Southern Europe
The Group once again outperformed the market, Cash Conversion Cycle closed at 22 days, -8 days compared to Q3-23 returning to growth in all Southern European countries in Q3-24, and unchanged compared to Q2-24. with an 8% increase in Gross Sales, continuing on the path of strengthening its share Net
Slide 5: Q3-24 Net Sales and Gross Sales by country and segment
Italy Screens Devices Solutions 8.9% 6.3% 2.9% 1.2% 2.5% 0.9% -3.0% -2.8% -3.7% -4.9% -10.1% -11.4% Spain Screens Devices Solutions Q3-24 Net Sales Q3-24 Gross Var. vs Var. vs 9M-24 Net Sales 9M-24 Gross Var. vs Var. vs As Reported Sales(2) Q3-23 Q3-23 As Reported Sales 9M-23 9M-23 6.6% 3.9% 5.2% 0.
Slide 6: Market dynamics: Q3-24 growth acceleration and PC recovery
• Q3-24 growth marks an acceleration within an overall positive sentiment following a more muted Q2-24. • This market dynamic is even more remarkable considering the macroeconomic backdrop which is still influenced by both geopolitical tensions as well as inflationary pressure that put a drag on con
Slide 7: Key financial results: gross profit, EBITDA, cash cycle, net financial position
9M-24 Gross Profit at 153.8 M€ (-0% compared to 9M-23), 5.53% on sales, compared to 5.61% of 9M-23. Q3-24 Gross Profit at 48.9 M€ (+1% compared to Q3-23), 5.25% on sales, compared to 5.80% of Q3-23. 9M-24 EBITDA Adj. at 36.3 M€ (-1% compared to 9M-23); 1.31% on sales (1.33% on sales in 9M-23). Q3-24
Slide 8: Esprinet and V-Valley results by pillar
100% 237.3 80% 3.46% 60% 493.9 459.4 34.5 8% 3.7 3.3 0.4 12% 0.75% 0.72% 0.03% 200.6 198.8 1.8 1% -0.3 1.2 -1.5 >100% -0.15% 0.60% -0.75% 40% 694.5 694.5 658.2 36.3 6% 3.4 4.5 -1.1 -24% 0.49% 0.68% -0.19% 20% 234.3 178.5 55.8 31% 6.6 5.9 0.7 12% 2.82% 3.31% -0.49% 0.49% 3.0 2.4 0.6 25% 1.6 1.3 0.3 2
Slide 9: Gross Profit up in Q3-24 compared to the same period last year
. • Gross Profit up in Q3-24 compared to the same period last year (M/€) Q3 2024 Q3 2023 Var. % 9M 2024 9M 2023 Var. % benefited from improving IT spending environment and recovery of market share. Gross profit margin stood at 5.25% in Q3-24. The increase in 9M sales is unable to compensate for the
Slide 10: Net Invested Capital and net financial position
• Net Invested Capital as of September 30th, 2024 stands at 718.5 M€ and is covered by: (M/€) 30/09/2024 30/09/2023 30/06/2024 o Shareholders’ equity for 374.1 M€ (356.0 M€ as of September 30th, 2023); o Cash negative for 344.3 M€ (negative for 260.6 M€ as of September 30th, 2023). Fixed Assets 169.
Slide 11: Working capital unchanged from previous quarter (4-quarter average)
100 35 32 31 90 30 28 30 80 26 26 23 24 25 70 22 22 21 60 20 20 17 50 12 13 13 13 84 88 87 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 55 47 47 46 49 55 54 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 20
Slide 12: Working capital days: quarter-end view
100 50 90 44 41 40 80 36 35 33 31 30 70 29 29 25 26 60 22 20 15 50 16 16 14 12 89 90 88 86 10 85 85 40 82 81 77 76 70 73 72 72 73 68 68 69 30 2 60 66 61 60 66 3 66 59 57 59 5759 59 0 55 53 54 55 51 48 51 48 48 51 51 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
Slide 13: ROCE pre- and post-IFRS 16
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% 6.4% 7.1% 7.9% 8.0% 7.6% 7.1% 6.5% 6.7% 7.1% 5.0% 6.9% 6.3% 5.5% 5.9% 5.5%
Slide 14: Final Remarks
@ esprinet’ enabling your tech experience J FINAL al all REMARKS =
Slide 15: ICT distribution market: back to growth
• ICT distribution market: back to growth • According to the sector analysts, the ICT market is returning to growth, exceeding GDP growth. Q3-24 growth confirms an overall positive sentiment even more so considering the acceleration • Despite the outlook for the Eurozone economy remains highly uncer
Slide 16: Q&A
enabling your tech experience Q&A
Slide 17: Upcoming investor events
EVENT DATE European MidCap Conference - Virtual Edition November 27, 2024 organized by Intermonte Mid & Small in Milan 2024 December 3, 2024 organized by Virgilio IR 17
Slide 18: Thank you
Thank you GRAZIE + GRACIAS - OBRIGADO« DANKE « MERCI « ZA} « iff! « RR © esprinet’ enabling your tech experience