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Datalogic
Investor Presentation • May 12, 2023
4452_ct_2023-05-12_ece20977-d3ef-4002-a0f4-2b05202c0641.pdf
Investor Presentation
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INTERNAL Datalogic Confidential Copyright Datalogic 2023 – Confidential Proprietary Information
Q1 2023 Results Conference Call
Q1 2023 Results
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€m
Net Debt at €31.7M (-€10.3 vs Dec '22)
* GOM 2023 affected by reclassification of certain cost items mainly from S&D to COGS. Comparative 2022 figures consistently restated
Q1 2023 Highlights: Revenue growth, whilst improving profitability and cash flow generation
❑ Revenue growth at high single digit (+8.5%) with strong performance of EMEAI
❑ R&D Cash Out at €15.8M, steady at around 10.6% on revenues, executing technological roadmap
- ❑ A new Operating Model with two new Market Segments, to enhance strategy execution
-
❑ Gross Operating Margin at 41.7% compared to 40.2% in Q1 2022 (+1.5 pp) mainly thanks to price/mix offsetting decline in volumes, in an eased environments on the procurement side
-
❑ Adj EBITDA margin at 9.0% (8.5% in Q1 2022), mainly due to improving Gross Margin
- ❑ Net Debt down at €31.7M, thanks to operating cash generation in the quarter, fueled by tight control on Net Working Capital
Group Revenues by Geography
| €m | Q1 2023 | Q1 2022 | Var % |
|---|---|---|---|
| EMEAI | 86.6 | 75.6 | 14.5% |
| Americas | 41.8 | 40.6 | 2.9% |
| APAC | 21.3 | 21.7 | (1.9%) |
| Total Datalogic | 149.7 | 137.9 | 8.5% |
❑ EMEAI: Group's first market up by 14.5%, led by DACH, Italy & Middle East
❑ AMERICAS: Group's second-largest market with an overall growth at +2.9%,driven by double digit growth in logistic and manufacturing applications
❑ APAC: -1.9% YoY, despite double-digit growth in China
Group Revenues by Market Segment*
❑ Data Capture: +9.3%, led by a double digit EMEAI growth (+20.3%)
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❑ Industrial Automation: growth across all geographical areas: double digit growth in Americas and APAC
* With the aim of better aligning the operating model with its strategic goals and prioritizing product and solution offerings, Datalogic introduced two new Market Segments which operate with distinct sales models, and liaise with different representatives and purchasing needs of the client: Data Capture and Industrial Automation. Consistently with that, starting from 2023 revenue breakdown for the Datalogic Division is presented by Market Segment, which replaces previous breakdown by Industries
New Product Launches and Innovation
❑ R&D Cash Out at 10.6% in line with the Q1 2022 (10.5%). Commitment to Product Development Roadmap continues *
❑ Vitality Index at 6.3%
Page 6 *Including capitalized R&D expenses and excluding D&A
Q1 2023 P&L
| € m | Q1 2023 | Q1 2022 restated* |
Var % |
|---|---|---|---|
| Revenues | 149.7 | 137.9 | 8.5% |
| Gross Margin | 62.4 | 55.4 | |
| % on Revenues | 41.7% | 40.2% | +1.5 pp |
| Operating expenses | (57.0) | (50.9) | |
| % on Revenues | (38.1%) | (36.9%) | -1.2 pp |
| Adjusted EBITDA | 13.5 | 11.8 | |
| % Adj. Ebitda margin | 9.0% | 8.5% | +0.5 pp |
| Adjusted EBIT | 5.4 | 4.5 | |
| % Adj. Ebit margin | 3.6% | 3.2% | +0.3 pp |
| EBIT | 3.9 | 2.3 | |
| % Ebit margin | 2.6% | 1.7% | +1.0 pp |
| Net Result | 3.2 | 1.3 | |
| % on Revenues | 2.1% | 1.0% | +1.2 pp |
▪ Adj EBITDA margin at 9.0% (+0.5 pp YoY), mainly due to improved industrial profitability, partially offset by higher operating expenses
▪ Net Result at €3.2m vs €1.3m in Q1 2022
Page 7 *Restatement mainly due to reclassification of some installation costs from S&D to COGS. GOM 2023 before reclassification equal to 43.8%, GOM 2022 before restatement equal to 42.0%.
EBITDA Adj: actual vs last year
Net Debt & Cash Flow Analysis : Dec'22 – Mar'23
€ m
Contact
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IR CONTACTS
IR Manager Alessandro D'Aniello Tel. +39 051 3147109 [email protected] Via Candini, 2 40012 Lippo di Calderara di Reno Bologna – Italy
IR Advisor
Vincenza Colucci CDR Communication Srl Tel. +39 335 6909547 [email protected]
IR Assistant
Daniela Giglioli Tel. +39 051 3147109 Fax +39 051 3147205 [email protected]
NEXT EVENTS
May 25, 2023 Italian Investment Conference – Unicredit/Kepler Cheuvreux
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This presentation contains statements that are neither reported financial results nor other historical information. These statements are forward-looking statements. These forward-looking statements rely on a number of assumptions and are subject to a number of risks and uncertainties, many of which are outside the control of Datalogic S.p.A., that could cause actual results to differ materially from those expressed in or implied by such statements, such as future market conditions, currency fluctuations, the behavior of other market participants and the actions of governmental and state regulators
© 2023 Datalogic S.p.A. and/or its affiliates - All rights reserved. • Without limiting the rights under copyright, no part of this documentation may be reproduced, stored in or introduced into a retrieval system, or transmitted in any form or by any means, or for any purpose, without the express written permission of Datalogic S.p.A. and/or its affiliates • Datalogic and the Datalogic logo are registered trademarks of Datalogic S.p.A. in many countries, including the U.S. and the E.U. • All other trademarks and brands are property of their respective owners.
INTERNAL Datalogic Confidential
Datalogic S.p.A.
Copyright Datalogic 2023 – Confidential Proprietary Information
Page 11
Via Candini, 2 - 40012 Lippo di Calderara di Reno - Bologna (Italy) Tel. +39 051 3147011 | Fax +39 051 3147205 [email protected] www.datalogic.com
