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Datalogic
Investor Presentation • Aug 3, 2023
4452_ct_2023-08-03_f3083197-a1bd-4bcd-9841-767d3dfb8161.pdf
Investor Presentation
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INTERNAL Datalogic Confidential Copyright Datalogic 2023 – Confidential Proprietary Information
H1 2023 Results Conference Call
AUGUST 03, 2023
H1 2023 & Q2 2023 Results
1H 2023 Highlights: improving profitability and cash flows in an uncertain demand environment
- ❑ Revenues decreased by 5.3%, due to a soft demand and the continuing destocking cycle in distribution, in all geographical areas ❑ R&D Cash Out at €32.0M, steady at around 10.7% on revenues, maintaining solid levels of R&D investments
- ❑ Gross Operating Margin, improving on a quarterly basis, at 42.4% compared to 39.6% in H1 2022 (+2.8 pp) thanks to positive effects of price, mix and productivity in an eased environment on the procurement side ❑ Adj EBITDA margin at 11.1% (10.9% in H1 2022), thanks to the improvement in industrial margins and despite higher operating expenses and negative volumes
- ❑ Positive price/mix in the semester across main geographies and product lines ❑ Net Debt down at €25.1M, thanks to a sound +€31.8M operating cash flow generation, fueled by
tight control on Net Working Capital
Group Revenues by Geography
| €m | H1 2023 | H1 2022 | Var % |
|---|---|---|---|
| EMEAI | 164.0 | 170.3 | (3.7%) |
| Americas | 91.6 | 96.2 | (4.7%) |
| APAC | 42.3 | 48.1 | (12.0%) |
| Total Datalogic | 298.0 | 314.6 | (5.3%) |
❑ EMEAI: Group's first market down by 3.7%. DACH growing +9.4%, Italy down by 3.3%
- ❑ AMERICAS: Group's second-largest market down by 4.7%, despite positive trend in check out solutions and industrial scanners
- ❑ APAC: -12.0% YoY, (-8.7% Net FX), growing in SEA and ANZ
Group Revenues by Market Segment
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| €m | H1 2023 | H1 2022 | Var % |
|---|---|---|---|
| Data Capture | 178.9 | 190.7 | (6.2%) |
| Industrial Automation | 111.1 | 116.0 | (4.2%) |
| Total DL Business | 289.9 | 306.7 | (5.5%) |
| Informatics | 8.2 | 8.5 | (3.1%) |
| Intra division | (0.2) | (0.6) | |
| Total Datalogic | 298.0 | 314.6 | (5.3%) |
❑ Data Capture: -6.2%, down in all geographical areas, despite a double-digit growth in check out solutions in both EMEAI and Americas
❑ Industrial Automation: Americas growing +3.5%, down the other geographies
New Product Launches and Innovation
Hand Held Scanners Stationary Industrial Scanners Sensors, Safety & Machine Vision
Gryphon™ 4500 Fixed Series
Matrix 220X Premium
Matrix 320X Premium
Smart-VS+ smart vision sensor
MX-C50 vision processor
❑ R&D Cash Out at 10.7%, +0.9 bps vs H1 2022 (9.8%). Commitment to Product Development Roadmap continues *
❑ Vitality Index at 6.5% on H1
H1 2023 P&L
| € m | H1 2023 | H1 2022 restated* |
Var % |
|---|---|---|---|
| Revenues | 298.0 | 314.6 | (5.3%) |
| Gross Margin | 126.4 | 124.6 | |
| % on Revenues | 42.4% | 39.6% | +2.8 pp |
| Operating expenses | (109.5) | (105.4) | |
| % on Revenues | (36.7%) | (33.5%) | -3.2 pp |
| Adjusted EBITDA | 33.0 | 34.3 | |
| % Adj. Ebitda margin | 11.1% | 10.9% | +0.2 pp |
| Adjusted EBIT | 17.0 | 19.2 | |
| % Adj. Ebit margin | 5.7% | 6.1% | -0.4 pp |
| EBIT | 12.6 | 15.3 | |
| % Ebit margin | 4.2% | 4.9% | -0.6 pp |
| Net Result | 12.1 | 8.8 | |
| % on Revenues | 4.1% | 2.8% | +1.3 pp |
▪ Adj EBITDA margin at 11.1% (+0.2 pp YoY), thanks to improving industrial margins, despite higher operating expenses
investments in R&D and S&D
▪ Net Result at €12.1m vs €8.8m in H1 2022, up vs Y-1 thanks to financial items, mainly
EBITDA Adj: actual vs last year
Net Debt & Cash Flow Analysis : Dec'22 – Jun'23
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
October 10, 2023 Italian Excellences 2023 – Intesa Sanpaolo
November 9, 2023 9M 2023 Results
DATALOGIC ON LINE
www.datalogic.com
THANK YOU
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
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Via Candini, 2 - 40012 Lippo di Calderara di Reno - Bologna (Italy) Tel. +39 051 3147011 | Fax +39 051 3147205 [email protected] www.datalogic.com
