Gpi

Earnings Release • Feb 8, 2021

PRESS RELEASE

GPI: FY 2020 PRELIMINARY CONSOLIDATED RESULTS REVENUES AND EBITDA ARE UP AND ABOVE GUIDANCE

• FY2020 REVENUES of around €270 M (FY2019: €240.9 M)
• FY2020 EBITDA of roughly €40 M (FY2019: €32.2 M)
• FY2020 NFP of approximately €120 M (1H2020: €90.9 M, FY2019: €82.8 M)

Trento, 8 February 2021

Today, the Board of Directors of GPI (GPI:IM), a company listed on the MTA and a leader in Information Systems and services for Healthcare and Social Services, examined the preliminary consolidated results for 2020, which have not yet been independently audited. The Board of Directors will approve the complete, definitive data for 2020 on 30 March 2021, as scheduled in the financial calendar.

The preliminary consolidated results for 2020 confirm the Group's growth capacity even in the current global public health emergency. The growth is mainly attributable to the increase in sales of highly innovative solutions, to the international expansion, and to the increase of private customers.

Revenues rose to approximately €270 million, up by roughly 12% on 2019 (€240.9 million). The growth in EBITDA was even more dynamic, reaching close to €40 million (2019: €32.2 million), up +24% and bringing the EBITDA margin to over 14.5%. The net financial position came to around €120 million. The 2020 results reflect the impact of the M&As of the year, worth about €30 million.

The strong performance of revenues was driven by both organic and inorganic growth.

Most of the organic growth can be attributed to ASA Care, which more than offset the initial uncertainties tied to the Covid-19 pandemic by relying more extensively on remote services, developing innovative services and implementing telemedicine contracts, which are so crucial to the processes that improve chronic patient intake services and the management of Covid patients.

The inorganic growth consisted, in particular, of the contribution of Oslo Italia S.r.l. and Gpi USA, through which the Group acquired the assets of Haemonetics (USA) last July. These acquisitions are in line with the ASA Software internationalisation and development strategy, which is geared towards solutions that present attractive profit margins and stand apart for their high performance and customer satisfaction rates.

The Gpi Group participated in nearly 200 public tenders in 2020, winning close to 30%, for a contract value assigned to Gpi of around €80 million.

Fausto Manzana, President and CEO of Gpi, announced,

"The preliminary data for 2020 confirm Gpi's role as a healthcare partner, first and foremost in Italy, but increasingly at international level as well. This pandemic has put tremendous, unexpected pressure on healthcare services everywhere. On our end, aware of the mission we are called to pursue and supported by the fine efforts of our workers, we are focused on doing our utmost to help overcome this difficult period. We have demonstrated our ability to react with resilience, ensuring the continuity of essential healthcare services for residents. And, in certain cases, we have surpassed expectations, facilitating the transition towards a tighter integration of technology in healthcare. Our strength today gives us confidence for tomorrow."

GPI GROUP

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 €241 million in 2019, with over 5,300 employees at year end and more than 2,200 customers in over 60 countries.

GPI was listed on Borsa Italiana in 2016 (AIM segment) and moved to the MTA market in 2018.

ISIN ordinary shares: IT0005221517 - ISIN "Warrant GPI SpA": IT0005221475

Press release available at www.gpi.it and

CONTACTS

Investor Relations

GPI | Fabrizio Redavid, Lorenzo Giollo | investor.relations@gpi.it | T: +390461381515 | Via Ragazzi del '99, 13 - 38123 Trento

Media Relations

GPI | Daniela Filbier, Enrico Orfano| media.relations@gpi.it | T: +390461381515 | Via Ragazzi del '99, 13 - 38123 Trento

Specialist

Banca Akros | Bruno Mestice | bruno.mestice@bancaakros.it | T. +3902434441 | Viale Eginardo, 29 – 20149 Milan