Investor Presentation • Mar 10, 2021
Investor Presentation
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This document has been prepared by Datalogic S.p.A. (the "Company") for use during meetings with investors and financial analysts and is solely for information purposes. The information set out herein has not been verified by an independent audit company. Neither the Company nor any of its subsidiaries, affiliates, branches, representative offices (the "Group"), as well as any of their directors, officers, employees, advisers or agents (the "Group Representatives") accepts any responsibility for/or makes any representation or warranty, express or implied, as to the accuracy, timeliness or completeness of the information set out herein or any other related information regarding the Group, whether written, oral or in visual or electronic form, transmitted or made available. This document may contain forward-looking statements about the Company and/or the Group based on current expectations and opinions developed by the Company, as well as based on current plans, estimates, projections and projects of the Group. These forward-looking statements are subject to significant risks and uncertainties (many of which are outside the control of the Company and/or the Group) which could cause a material difference between forward-looking information and actual future results. The information set out in this document is provided as of the date indicated herein. Except as required by applicable laws and regulations, the Company assumes no obligation to provide updates of any of the aforesaid forward-looking statements. Under no circumstances shall the Group and/or any of the Group Representatives be held liable (for negligence or otherwise) for any loss or damage howsoever arising from any use of this document or its contents or otherwise in connection with the document or the aforesaid forward-looking statements. This document does not constitute an offer to sell or a solicitation to buy or subscribe to Company shares and neither this entire document or a portion of it may constitute a recommendation to affect any transaction or to conclude any legal act of any kind whatsoever.
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December 31, 2019 economic data were restated following the classification of Solution Net Systems Inc. as discontinued operation as required by the accounting standard IFRS 5. 1
1
4
* Including capitalized R&D expenses and excluding D&A
Ebitda Margin
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❑ Retail: Decline driven mainly by Americas and base effect from end of major FRS Roll-outs in 2019
❑ Manufacturing: 40.3% growth in APAC. EMEAI and Americas impacted by Covid particularly in Automotive
| €m | FY 2020 | FY 2019 Restated* |
Var % vs. FY 2019 |
|---|---|---|---|
| Retail | 198.3 | 231.1 | (14.2%) |
| Manufacturing | 110.7 | 117.7 | (5.9%) |
| Transportation & Logistics | 53.9 | 74.4 17.7 |
(27.6%) (2.6%) |
| Healthcare | 17.2 | ||
| Channel | 84.5 | 127.3 | (33.6%) |
| Total DL Business | 464.6 | 568.1 | (18.2%) |
| Informatics | 16.4 | 18.7 | (12.3%) |
| Intra division | (1.2) | (1.1) | 7.4% |
| Total Datalogic | 479.8 | 585.8 | (18.1%) |
* December 31, 2019 comparative data have been restated to reflect the new allocation of Group's revenues to geographic areas and business sectors, as redefined by the " New Sales Organization" model launched in 2020 and the classification of Solution Net Systems Inc. as discontinued operation according to IFRS 5.
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❑ EMEAI: performance affected by Covid-19 and phase-out of major Fixed Retail Scanners roll-outs. Signs of recovery in H2, with
❑ Americas: Most affected market during the pandemic. Restriction to mobility severely affected the development of the
| €m | FY 2020 | FY 2019 Restated* |
Var % vs. FY 2019 |
|---|---|---|---|
| EMEAI | 254.8 | 307.1 | (17.0%) |
| Americas | 151.2 | 210.1 | (28.0%) |
| APAC | 73.8 | 68.5 | 7.7% |
| Total Datalogic | 479.8 | 585.8 | (18.1%) |
* December 31, 2019 comparative data have been restated to reflect the new allocation of Group's revenues to geographic areas and business sectors, as redefined by the " New Sales Organization" model launched in 2020 and the classification of Solution Net Systems Inc. as discontinued operation according to IFRS 5.
❑ Vitality Index (New products*/ sales) at 20.0% in line with 20.1% in 2019 ❑ R&D spending**, amounted to approximately € 63.0 m, reaching 13.1% as a percentage of Revenues compared to 10.8% in the 2019
consecutive quarters
| € m | FY 2020 | FY 2019 Restated |
Variance Reported |
Constant F X |
|
|---|---|---|---|---|---|
| Revenues Gross Margin % on Revenues |
479.8 219.9 45.8% |
585.8 288.1 49.2% |
(18.1%) -3.4 pp |
(17.0%) | ▪ Gross Margin at 45.8%, decrease driven by lower volumes and price/mix effects ▪ Operating expenses at €185.8m down 14.7% executing cost reduction plans to protect margin: |
| Operating expenses % on Revenues Adjusted EBITDA % Adj. Ebitda margin |
(185.8) (38.7%) 58.3 12.2% |
(217.9) (37.2%) 92.1 15.7% |
-1.5 pp -3.5 pp |
✓ Continue investing in R&D (10.8% on revenues vs 10.0% in 2019) |
|
| EBIT % Ebit margin Net Result % on Revenues |
18.4 3.8% 13.9 2.9% |
62.7 10.7% 50.3 8.6% |
-6.9 pp -5.7 pp |
✓ S&D cost decreased by 21.2% due to both tactical savings and efficiencies ▪ Adj Ebitda at 12.2% in 2020 on Revenue, reaching |
|
| 15.9% in Q4 vs 14.5% in Q4-2019 pre-Covid ▪ Net Result at €13.9m consolidating recovery for three |
* December 31, 2019 economic data were restated following the classification of Solution Net Systems Inc. as discontinued operation as required by the accounting standard IFRS 5.
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€ m
* December 31, 2019 economic data were restated following the classification of Solution Net Systems Inc. as discontinued operation as required by the accounting standard IFRS 5.
€ m
▪ In this unprecedent context, the Group has promptly reacted this fast-moving scenario implementing aggressive cost
▪ Encouraging signs of end markets recovery in all geographical areas, corroborated by a significantly improved trend in order intake versus early 2020. Despite high levels of uncertainty continues, under Covid emergency and shortage of some components in the short-term, Datalogic expects to see a gradual recovery in 2021 Revenues and an
▪ In this context, the Group's strategy confirms its focus on innovation and investment in strategic market segments
IR Manager Laura Bernardelli Tel. +39 051 3147109
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 E-mail [email protected]
[email protected] Via Candini, 2 40012 Lippo di Calderara di Reno Bologna – Italy
www.datalogic.com
March 23-25, 2021 STAR Conference Milan
April 29, 2021 Shareholders' Meeting
May 13, 2021 Q1 2021 Results
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
© 2019 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.
Via Candini, 2 - 40012 Lippo di Calderara di Reno - Bologna (Italy) Tel. +39 051 3147011 | Fax +39 051 3147205 [email protected] ww.datalogic.com
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