Investor Presentation • May 5, 2022
Investor Presentation
Open in ViewerOpens in native device viewer
We develop software, technologies and services to help innovating the models of care, assistance and prevention of the health care systems, optimizing processes and containing costs
A partnership to make health systems sustainable and help improve people's health and well -being
History of Growth
30 years of experience, management team with a track record of internal growth and M&As
International footprint
solutions used by 2,500 customers in more than 70 countries
Leadership
1st player in Italy: services granting access to care
2nd player in Italy: software solutions for healthcare and social systems
Uniqueness
integrated software, technology and service solutions to optimise the clinical, care, administrative and social processes.
Quality of life
our work helps improve the quality of life
• Increasing healthcare utilization, thus increasing costs
70-80% of Health budget
86.8% of total revenue
Care
ICT
Pay
Automation • automated pharmacy warehouse • automated hospital pharmacy supply chain
other SBAs
13.2 % of totalrevenue
Haemonetics operation \$ 11.3 M Rev. |35% EBITDA 100 clients in the USA (2020)
€ 3.9 M Rev. | 36% EBITDA 60 clients NHS UK, Army (France, Belgium)
Hemasoft Software acquisition of the residual 40% of shares of Gpi's subsidiary
Real answers to Covid- 19: concretely implementing the Group's vision: the Patient at the Centre
Informational Services 24/7
APPs indoor navigation and patient tracking
SW for the management of swab tests and vaccine jabs Vaccination programme Artificial Intelligence based, risk stratification and vaccine jabs prioritization
Drive-in swabs solutions, reducing the waiting time from hours to minutes
APP for the queue management and access regulation to phamacies, health care facilities, etc. Digital Display Totem
Virtual Care (Software, wearables, technological and medical operational centre, services)
| €M | FY21 | FY20 |
|---|---|---|
| Revenue & other income |
326.9 | 271.0 |
| Adjusted Revenue(1) | 298.1 | 250.9 |
| EBITDA | 49.8 | 40.2 |
| EBITDA % on total revenue | 15.2% | 14.8% |
| EBITDA % on adj. revenue | 16.7% | 16.0% |
| EBIT | 23.5 | 19.0 |
| EBIT % on total revenue | 7.2% | 7.0% |
| EBIT % on adj. revenue | 7.9% | 7.6% |
| EBT | 16.7 | 13.2 |
| Net profit | 11.3 | 12.3 |
(1) Net of Temporary Consortia (RTI)
Revenue € 326.9 M +20.6% | 16.2% organic thanks to the contribution of the SBAs:
| • | SW | € 117.6M | +14.6% |
|---|---|---|---|
| • | Care | €166.2 M | +25.4% |
| • | Other | € 43.1 M | +20.1% |
thanks to the contribution of the SBAs:
| • | SW | € 33.0 M | 28.3% | on adj. Revenue |
|---|---|---|---|---|
| • | Care | € 8.8 M | 6.4% | on adj. Revenue |
| • | Other | € 8.0 M | 18.7% | on total Revenue |
EBIT: € 23.5 M
after depr. & amort. and provisions of € 26.3 M
Net Profit: € 11.3 M tax impact for € 5.4 M – (in FY20 patent box)
payout ratio ≈81% | Date of Record 17 May 2022
A3.1 CERVED Rating A- S&P |A3 Moody's | A-1 Fitch equivalent
| €M | FY21 | FY20 Restated |
|---|---|---|
| Non-current assets | 166.8 | 158.4 |
| Net working capital |
140.2 | 109.1 |
| Other operating assets/(liabilities) | (45.3) | (39.5) |
| NET INVESTED CAPITAL | 261.7 | 227.9 |
| Shareholders' equity | 106.2 | 83.4 |
| Net Debt | 155.4 | 144.5 |
| TOTAL SOURCES | 261.7 | 227.9 |
The increase in Non-current is linked to the investments, including the acquisition of Medinfo
The increase is due to the rising amount of receivables, mainly linked to the revenues growth
Reflects the operating flows, the investments of the Group and the equity movements
(1) Net Debt is determined in accordance with the provisions of Guideline No. 39 issued by ESMA on 4/3/2021, and in line with the related Warning Notice No. 5/21 issued by Consob on 29/4/2021. For consistency of presentation, the corresponding value as at 31/12/2020 has also been restated.
According to New ESMA Guideline No. 39, issued on March 4th 2021
Investments Tot. € 55.3 M M&A € 34.5 M(1) Capex € 20.7 M (incl. R&D 11 M)
(1) Of which € 30.5 cash-out and € 4.0 M impact on Net Debt arising according to the new ESMA Guideline
Automated warehouse sales, maintenance and service fees
PAY ePayment services POS rental and related software
ICT Desktop management services fees other system services
Competitive environment and strategic guidelines
Source: Gartner Hospital + Physician survey (2021 Q4)
| +14.8% 2021 on 2020 | CAGR 21 – | 24: 12.2% |
|---|---|---|
| 47.9% North America | CAGR 21 – | 24: 12.0% |
| 30.8% Western Europe | CAGR 21 – 24: |
12.1% |
value of the Italian market for health care software + IT services in 2021 10,5% 2021 on 2020
1.3% Italy CAGR 21 – 24: 8.9%
National Recovery and Resilience Plan
€ 5 B for digitizing health care of which € 1 B for Telemedicine
| Company | Brief description | Ranking | |
|---|---|---|---|
| ICT solutions and related services for public and private healthcare providers. |
| 1st | |
| ICT solutions, administrative and social-healthcare services for public and private healthcare providers. |
| 2nd | |
| ICT solutions for the segments: finance, industry, telco&utilities and PA. |
Through dedicated healthcare division |
3rd | |
| Software for hospital processes, orders and risk management. |
Reply's subsidiary |
4th | |
| Digital transformation & ICT services for industries, energy, aerospace, healthcare, PA, etc. |
Through dedicated healthcare division |
5th |
| Company | Brief description | Ranking |
|---|---|---|
| ICT solutions, administrative and social-healthcare services for public and private healthcare providers. |
1st | |
| Software and contact center svc. |
n.a. | |
| Administrative support svc. and customer relationship management for healthcare. |
n.a. | |
| Call center svc. telephone reservations/cancellations related to specialist health svc. |
n.a. | |
| Contact center and ustomer care svc. |
n.a. |
| 01 | 02 | 03 | 04 | 05 |
|---|---|---|---|---|
| EVER MORE GLOBAL |
PRIVATE HEALTH CARE |
MARKET LEADERSHIP in ITALY |
INTEGRATED SOLUTIONS |
FROM PROVIDER TO PARTNER |
| Strong increase over the BP |
Doubling up of the Private HC segment % |
Major regional and national tenders |
Greater integration of services SW technologies |
Multi-business nature with the |
| period Geographical areas of growth: |
weight | M&As Focus of R&D on Machine Learning |
to respond to the evolution of healthcare models and the healthcare |
contribution of all SBAs. |
and on the digital transformation
demand.
M&A Guidelines
3 Jan 2022 - LOI acquisition of TESI Group LIS | RIS/PACS | Blood Italy, Mexico, Brazil FY20 Revenue ~ € 25 M | EBITDA € 9 M | EV € 90 M
| Leadership and Uniqueness | GPI IN THE STOCK MARKET ISIN: IT0005221517 |
Treasury shares |
|||
|---|---|---|---|---|---|
| Ticker: GPI:IM | 0.56% | ||||
| Price 4 May 2022 € | 13.04 | ||||
| Growth and Visibility |
Ordinary Shares | 18,260,496 | |||
| Capitalisation € M | 238 | ||||
| Technology and Service | ANALYSTS' COVERAGE – | Target price | |||
| Banca Akros |
30 March 2022 | € 17.50 | |||
| Intermonte SIM | 1 April 2022 | € 17.00 | |||
| Evolution of market/NRRP |
Midcap Tp Icap |
30 March 2022 | € 18.50 | ||
| Float |
42.13%
FM srl 57.31%
Patients
Technologies
Disease Management
| GAIA |
|---|
| Population analysis and |
| stratification |
Blood Donor Centers Hospitals
ranks 5th on the global market of Blood transfusion sw
GLOBAL COMPETITORS
Via Ragazzi del '99, 13 - 38123 Trento T +39 0461 381515 [email protected]
Fabrizio Redavid C. +39 335 1035499 [email protected]
C. +39 340 8223333 [email protected]
The material in this presentation was prepared by GPI S.p.A. ("GPI" or the "Company") without any form of independent verification; it is general, basic information about the current business of GPI as at the date of this presentation. This information is supplied in summary form and is not complete. This presentation is provided for information only and is not an offer or solicitation of an offer of purchase or sale of securities, nor shall there be any sale or purchase of securities in any jurisdiction in which such an offer, solicitation or sale should be illegal before the registration or qualification in accordance with the laws on securities of that jurisdiction. It is intended exclusively by way of a presentation to investors and is provided for information only. This presentation does not contain all information that may be relevant to an investor.
The information contained in this presentation, including the forecast financial information, must not be considered as advice or recommendations to investors or potential investors in connection with the holding, purchase or sale of securities or other products or financial instruments and does not take into account any specific investment targets nor the financial position. Before acting, it is important to consider the adequacy of information in relation to such subjects and, in particular, independent financial advice should be taken. All securities and product transactions or financial instruments entail risks, which include, amongst others, the risk of adverse or unforeseen market, financial or political developments and, in international transactions, the foreign exchange risk. The information contained in this presentation is confidential and is supplied to the user for information only and cannot be reproduced, re-sent or further distributed to anyone else, nor published, entirely or partly, for any purpose. This presentation is only distributed to and intended for: (A) persons in the European Economic Area Member States (excluding the United Kingdom), who are classed as "qualified investors" under Article 2, paragraph 1, letter e) of Directive 2003/71/EC (as amended and complete with any implementing measures applicable in each Member State); (B) in the United Kingdom, professional investment qualified investors coming under Article 19 (5) of the 2005 Order (financial promotion), the Order of Financial Services and markets and/or companies with high shareholders' equity and other persons to whom it can be lawfully disclosed, pursuant to Article 49,
paragraph 2, letters a) to d) of the Order; and (C) other persons to whom this presentation can be legally distributed and disclosed in accordance with applicable laws (all those pursuant to points (A) to (C) above, indicated as "relevant persons").
The information contained in this presentation may include forecasts. Although the Company believes it has a reasonable basis on which to make the forecasts given in this presentation, GPI warns that forecasts are no guarantee of future performance and that the effective operating results, financial conditions and conditions of liquidity and development of the segment in which GPI operates may differ considerably from those effectively achieved or suggested by the declarations given in this presentation or made by the GPI management team. Past performance is also not a reliable indication of future performance.
GPI makes no promise to update or publicly review the forecasts, even if new information is revealed or for any other reason. The information and opinions given in this presentation or in the declarations made by the GPI management team are given as at the date of this presentation or any other date, if indicated, and are subject to change without notice. Do not rely on the information given in this presentation for any purpose. No express or implicit declaration or guarantee is given by GPI, its subsidiaries or the respective consultants, functionaries, employees and agents, as regards the accuracy of information or opinions or for any loss as may derive directly or indirectly from any use of this presentation or its contents. This presentation is not intended for distribution or use by any person or entity that is a citizen or resident of a place, country or other jurisdiction in which such distribution, publication, availability or use may be in conflict with laws or regulations or which would require any registration or licence within such jurisdiction.
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.