Earnings Release • Feb 15, 2023
Earnings Release
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PRESS RELEASE
Trento, 15 February 2023
GPI S.p.A. (GPI:IM), a company listed on the EXM and a leader in Information Systems and services for Healthcare and Social Services, reports that today the Board of Directors examined the preliminary consolidated results for 2022, which have not yet been independently audited.
The Board of Directors will approve the results for 2022 on 28 March 2023, as scheduled in the financial calendar.
The strength and uniqueness of the offer take total Revenue to exceed 355 million euros, an increase of 28 million euros (> 8.6%) compared to the 326.9 million euros earned in 2021.
The increase in revenue is mostly attributable to organic growth.
The non-organic contribution mainly came from the Tesi Group, the acquisition of which was finalised at the end of November 2022.
It is the technological Strategic Business Areas (SBAs) that have contributed most to the excellent result; in particular, the good performance of the Software SBA (> 15%) is highlighted, driven by the start-up of contracts linked to the resources of the National Recovery and Resilience Plan through CONSIP Framework Agreements and by the good results of new contracts abroad, especially relating to the Gpi4Blood transfusion software suite.
The growth in Care SBA (approx. 1%) was more moderate, as expected from the market trend projections, where the recovery of ordinary access to care activities and the decrease of all Covid emergency management related activities were compensated.
The other technology SBAs grew organically by more than around 17% compared to FY 2021, with the good results of Automation (>24%), achieved especially in the retail pharmacy sector in Italy, and Pay (>20%), which strengthens and increases its positioning thanks to the greater propensity to use electronic payments by the public, and finally ICT (> 10%) constantly growing in its niche segment.
The Group confirms a growing presence in foreign markets, accounting for more than 10% of revenues, thanks to a good performance in transfusion software and robotics, a result that is still unaffected by the acquisition of the Tesi Group (finalised at the end of November 2022).
EBITDA exceeds 53 million euros and the EBITDA margin is approximately 15%, in line with guidance and up by about 3 million euros from the 49.8 million euros in 2021.
Net Financial Debt was about 140 million euros, down from 155.4 million euros in 2021.
The figure particularly reflects the impact of the extraordinary transactions finalised in the second half of 2022: the capital increase for a total of 140 million euros and M&A transactions for more than 90 million euros, in addition to the investments made during the year and the distribution of dividends.
Should the final results for FY 2022 turn out to be in line with the preliminary results reviewed today, the Board of Directors believes that dividends in line with last year can be distributed.
«Preliminary figures confirm the positive and continuous progression of the Gpi Group, - comments Fausto Manzana, CEO of the Gpi Group - The numbers tell of an important organic growth, of reinforcing on the Italian market, where the start of the Consip Framework Agreements pushes us towards important goals for us and for the Country. I am very satisfied with the growth abroad, which confirms the quality of our proposal in sectors with high technological content and where reliability is perceived by customers as one of the rewarding criteria. Abroad we also count on pushing synergies with the TESI Group, which we recently acquired and which will strengthen us especially in the American markets».
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Further to what was announced on 14 December 2022, we would hereby inform you that today the Board of Directors resolved to appoint, in addition to the current Board Committees and until the next Shareholders' Meeting, the Chairman Giuseppina Di Foggia as a member of the Remuneration Committee and the Control, Risk and Sustainable Development Committee. The Board found in both cases that Mr Di Foggia met the requirements of the Corporate Governance Code and the applicable regulations.
Therefore, until the next Shareholders' Meeting, the Control, Risk and Sustainable Development Committee - which is also assigned the duties of the Committee for Related Party Transactions - and the Remuneration Committee, are made up as follows:
GPI is the preferred partner for software, technologies and services for healthcare, social services and the public administration. Founded more than 30 years ago in Trento, GPI has grown through significant investments in M&A (in Italy and abroad) and R&D, which it carries out in partnership with leading Italian research centres and universities to share scientific, technological, functional and process knowledge applied to the e-health, e-welfare, well-being sectors.
Also drawing on the solutions and know-how gained from the companies that have joined its ecosystem, the Group has masterfully translated the needs of the healthcare industry into cutting-edge high-tech solutions and new service models that optimise prevention, diagnosis and care processes, improving people's lives.
The offer combines specialised IT expertise with advisory and design capabilities enabling it to operate in a range of business areas: Software, Care, Automation, ICT and Payment services.
The Company reported consolidated revenues of €326.9 million in 2021, with over 7,200 employees at year end and more than 2,700 customers in over 70 countries.
GPI was listed on Borsa Italiana in 2016 (AIM segment) and moved to the MTA (now EXM) market in 2018. ISIN ordinary shares: IT0005221517
Press release available at www.gpi.it and
GPI | Fabrizio Redavid, Lorenzo Giollo | [email protected] | T: +390461381515 | Via Ragazzi del '99, 13 - 38123 Trento
GPI | Daniela Filbier, Enrico Orfano| [email protected] | T: +390461381515 | Via Ragazzi del '99, 13 - 38123 Trento
Banca Akros | Bruno Mestice | [email protected] | T. +3902434441 | Viale Eginardo, 29 – 20149 Milan
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