Amplifon Spa · MIL:AMP
Amplifon Spa — Q3 2023 Earnings Presentation
15 slides from Amplifon Spa's earnings presentation, Oct 30, 2023
Slide 1: Q3 & 9M 2023 Results
Q3 & 9M 2023 Results M i l a n , O c t o b e r 3 0 th 2 0 2 3
Slide 2: Disclaimer
Disclaimer The following applies to this document, the oral presentation of the information in this document by Amplifon S.p.A. (the “Company”) or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the “Information”). In accessi
Slide 3: Q3 2023: All-time-high organic growth underpinned by strong investments
Q3 2023: All-time-high organic growth underpinned by strong investments in a softer-than-expected market in Europe Revenues EBITDA recurring Net Profit recurring 531m€ 110m€ 23.5m€ +11.4% at K FX vs Q3 2022 Margin at 20.7%, after strong investments Margin at 4.4% +9% organic growth in field capacity
Slide 4: Q3 2023 Financial highlights
Q3 2023 Financial highlights Excellent and well-above-market organic growth. Profitability affected by EMEA lower operating leverage after strong investments in a softer-than-expected European market Excellent revenue growth of +11.4% at constant FX vs Q3 2022 Data in €m Q3 2023 Q3 2022 Δ% All-t
Slide 5: 9M 2023 Financial highlights
9M 2023 Financial highlights Delivering strong first nine-months results Excellent revenue growth of ~+10% at constant FX vs 9M 2022 Data in €m 9M 2023 9M 2022 Δ% Very strong and above market organic growth at +7.6% in a REVENUES 1,645.1 1,539.7 +6.8% softer than expected market in Europe Organi
Slide 6: Financial results by Region: EMEA
Financial results by Region EMEA: strong revenue performance in a still negative market environment. Profitability affected by a lower operating leverage after strong investments in a softer-than-expected market Strong revenue growth of +5.8% at constant FX vs Q3 2022 Data in €m Q3 2023 Q3 2022 Δ%
Slide 7: Financial results by Region: Americas
Financial results by Region AMERICAS: excellent momentum continues with another outstanding and well-above- market performance. Significant FX headwind Excellent revenue growth of ~+25% at constant FX vs Q3 Data in €m Q3 2023 Q3 2022 Δ% 2022 REVENUES 109.3 101.3 +8.0% Outstanding organic growth
Slide 8: Financial results by Region: APAC
Financial results by Region APAC: outstanding top-line performance across all markets. Strong FX headwind Q3 2023 Q3 2022 Excellent revenue growth of +16.4% at constant FX vs Q3 2022 Data in €m Δ% Outstanding and well-above-market organic growth at ~+14% REVENUES 90.1 86.5 +4.2% M&A contributi
Slide 9: A key milestone in our journey in China: 300+ PoS
A key milestone in our journey in China: 300+ PoS Building a very solid platform ready for the future wave of growth Amplifon China today 300 PoS, of which 120+ acquired YTD Heilongjiang ~700 Employees Jilin ~600 HC Professionals Xinjiang Inner Liaoni ng Gansu Mongolia Beijing HQs in Shanghai Ningxi
Slide 10: Q3 2023 Financial results
Q3 2023 Financial results Delivering solid results in a softer-than-expected market in Europe, Group’s core geography Data in €m Q3 2023 Q3 2022 Δ Rec (unless specified) Recurring Reported Recurring Reported 23/22 REVENUES 531.3 531.3 502.5 502.5 +5.7% EBITDA 109.8 107.8 109.4 108.8 +0.3% Margin % 2
Slide 11: 9M 2023 Financial results
9M 2023 Financial results Strong first nine months results Data in €m 9M 2023 9M 2022 Δ Rec (unless specified) Recurring Reported Recurring Reported 23/22 REVENUES 1,645.1 1,645.1 1,539.7 1,539.7 +6.8% EBITDA 385.8 372.6 369.5 363.8 +4.4% Margin % 23.5% 22.6% 24.0% 23.6% -- ORDINARY D&A (156.3) (156
Slide 12: 9M 2023 Financial results: Operating Cash Flow
9M 2023 Financial results Operating Cash Flow comparing with the exceptional level of 2022. Strong investments in Capex and M&A to boost growth Data in €m 9M 2023 9M 2022 Δ Operating cash flow before repayment of lease liabilities 253.7 298.5 (44.8) Repayment of lease liabilities (85.1) (80.1) (5.0)
Slide 13: 9M 2023 Financial results: Leverage
9M 2023 Financial results Leverage at 1.63x after strong investments (>€180m Capex & M&A cash-out) and shareholders’ returns (€65m dividend distribution) Data in €m 30/09/2023 31/12/2022 Liquidity (197.7) (229.6) Short-term debt 449.4 251.7 Medium/long-term debt 666.0 807.9 Net financial debt 917.6
Slide 14: 2023 Outlook
2023 Outlook Playing offense in a softer-than-expected demand in the core European market In a global macroeconomic and geopolitical environment characterized by increasing uncertainty and volatility, we continue to grow very fast gaining market share Looking into Q4, we expect The US market t
Slide 15: Investor Relations & Sustainability Contacts
I n v e s t o r R e l a t i o ns & S u s t a i n a b i l i t y C o n t a c t s FRANCESCA RAMBAUDI AMANDA HART GIRALDI FRANCESCO ROMEO OLGA LEPECHKINA Investor Relations & Sustainability Sr Director Investor Relations Manager Sustainability Manager Assistant Tel: +39 02 5747 2261 Tel: +39 02 5747 231