Gpi — Investor Presentation 2022

Mar 30, 2022

CONFERENCE CALL FY21 30 MARZO 2022

Sostenibilità e mercato della Sanità DIGITAL

Aumento della SPESA SANITARIA

• Fattori demografici (invecchiamento popolazione)
• Aspettative di Cittadini e Pazienti
• Nuove tecnologie e nuove terapie

Malattie croniche hanno impatto globale

• Aumento uso Sanità, aumento dei costi

40-50% ha almeno una malattia cronica (Paesi benestanti)

70-80% del budget sanitario

Covid-19

• Situazione aggravata
• Spinta alla digitalizzazione
• Piano Nazionale di Ripresa e Resilienza
• Crescita della spesa sanitaria preme sui budget e spinge a ridurre i costi

TRANSFORMATION

• Nuova organizzazione dei processi
• Prevenzione e controllo delle cronicità
• Integrazione di persone, processi e strutture
• Riduzione costi e migliore qualità della vita

SISTEMI SANITARI SOSTENIBILI

TECNOLOGIE

49,2%

SERVIZI

50,8%

Integrare il valore delle Persone con il valore delle Tecnologie.

• € 22,3 M incassati dall'esercizio dei warrant Finanziamento M&As
• CERVED conferma il rating A3.1 equivalente A- S&P |A3 Moody's | A-1 Fitch
• partecipato a 147 Gare| Win-ratio 63% | Contratti per € 246 M
• Telemedicina & Cartella Clinica Elettronica Accordo Quadro CONSIP Gpi guida il RTI primo classificato Migliore punteggio tecnico Gpi 37% | fino € 600 M | 48 mesi | tutta Italia

In evidenza F21 M&As - Blood Bank

operazione Haemonetics \$ 11,3 M Ricavi |35% EBITDA 100 clienti negli USA (2020)

Medinfo Group

€ 3,9 M Ricavi | 36% EBITDA 60 clienti NHS Regno Unito, Eserciti (Francia, Belgio)

Hemasoft Software

acquisizione del 40% delle quote residue della controllata di Gpi

Forte Crescita FY21

€M	FY21	FY20
Ricavi & altri proventi	326,9	271,0
Adjusted(1) Ricavi	298,1	250,9
EBITDA	49,8	40,2
EBITDA % su ricavi tot.	15,2%	14,8%
EBITDA % su ricavi adj.	16,7%	16,0%
EBIT	23,5	19,0
EBIT % su ricavi tot.	7,2%	7,0%
EBIT % su ricavi adj.	7,9%	7,6%
EBT	16,7	13,2
Risultato dell'esercizio	11,3	12,3

(1) Al netto di RTI

Ricavi € 326,9 M +20,6% | 16,2% organic Grazie al contributo delle ASA:

•	SW	€ 117,6M	+14,6%
•	Care	€ 166,2 M	+25,4%
•	Altre	€ 43,1 M	+20,1%

EBITDA: € 40,8 M | 16,7% su Ricavi adj.

Grazie al contributo delle ASA:

•	SW	€ 33,0 M	28,3%	su ricavi adj.
•	Care	€ 8,8 M	6,4%	su ricavi adj.
•	Altre	€ 8,0 M	18,7%	su ricavi totali

EBIT: € 23,5 M

dopo ammortamenti e accantonamenti per € 26,3 M

Risultato netto: € 11,3 M

imposte per € 5.4 M – (nel FY20 patent box)

Dividendo proposto dal CdA: € 0.50 p.a.

payout ratio ≈81%

Highlights Patrimoniali FY21

Rating CERVED A3.1 equivalente A- S&P |A3 Moody's | A-1 Fitch

€M	FY21	FY20 Restated
Immobilizzazioni	166,8	158,4
Capitale Circolante Netto	140,2	109,1
Altre attività / (passività) operative	(45,3)	(39,5)
CAPITALE INVESTITO NETTO	261,7	227,9
Patrimonio Netto	106,2	83,4
Indebitamento Finanziario Netto	155,4	144,5
TOTALE FONTI	261,7	227,9

Immobilizzazioni

L'aumento è legato agli investimenti, inclusa l'acquisizione di Medinfo

Capital Circolante Netto

L'aumento è dovuto all'ammontare crescente dei crediti, principalmente legato alla crescita dei ricavi

Patrimonio Netto

• (-) Dividendi (€ 7,9 M)
• (+) Proventi warrant (€ 22,3 M)
• (-) Parti correlate (€ 3,3 M quote di minoranza Riedl e Argentea)

Indebitamento Finanziario Netto(1)

Riflette i flussi operativi, gli investimenti del Gruppo e i movimenti di capitale

(1) L'IFN è determinato secondo quanto previsto dalle Linee Guida ESMA n. 39 del 4/3/2021, in linea con il relativo Avviso Consob n. 5/21 del 29/4/2021. Per omogeneità di presentazione è stato rideterminato anche il corrispondente valore al 31/12/2020.

Indebitamento Finanziario Netto

IFN

determinato conformemente a quanto previsto dall'Orientamento n° 39 emanato il 4 marzo 2021 dall'ESMA

• € 10,9 M YoY

Investimenti Tot. € 55,2 M M&A € 34,5 M(1) Capex € 20,7 M (incl. R&S € 11 M)

(1) Di cui € 30.5 M cash-out e € 4.0 M di impatto nuove Linee Guida Esma su IFN

Software FY21

Care FY21

Automation

Vendita HW Magazzini Automatizzati e canoni di manutenzione e assistenza

• Farmacie retail
• Farmacie ospedaliere

Pay

Servizi di ePayment, ricavi da noleggio POS e relativo software

• Grande Distribuzione Organizzata
• PAL
• System Integrator

ICT

Canoni per servizi di Desktop Management e altri servizi sistemistici

• Clienti Healthcare
• PA non Healthcare
• Altri clienti privati

M&A Guidelines

Linee Guida M&A Diventare player di riferimento europeo

3 Gennaio 2022 LOI acquisizione di TESI Group LIS | RIS/PACS | Blood Italia, Messico, Brasile FY20 Ricavi ~ € 25 M | EBITDA € 9 M | EV € 90 M

Opportunità di Investimento

Disclaimer

The material in this presentation was prepared by GPI S.p.A. ("GPI" or the "Company") without any form of independent verification; it is general, basic information about the current business of GPI as at the date of this presentation. This information is supplied in summary form and is not complete. This presentation is provided for information only and is not an offer or solicitation of an offer of purchase or sale of securities, nor shall there be any sale or purchase of securities in any jurisdiction in which such an offer, solicitation or sale should be illegal before the registration or qualification in accordance with the laws on securities of that jurisdiction. It is intended exclusively by way of a presentation to investors and is provided for information only. This presentation does not contain all information that may be relevant to an investor.

The information contained in this presentation, including the forecast financial information, must not be considered as advice or recommendations to investors or potential investors in connection with the holding, purchase or sale of securities or other products or financial instruments and does not take into account any specific investment targets nor the financial position. Before acting, it is important to consider the adequacy of information in relation to such subjects and, in particular, independent financial advice should be taken. All securities and product transactions or financial instruments entail risks, which include, amongst others, the risk of adverse or unforeseen market, financial or political developments and, in international transactions, the foreign exchange risk. The information contained in this presentation is confidential and is supplied to the user for information only and cannot be reproduced, re-sent or further distributed to anyone else, nor published, entirely or partly, for any purpose. This presentation is only distributed to and intended for: (A) persons in the European Economic Area Member States (excluding the United Kingdom), who are classed as "qualified investors" under Article 2, paragraph 1, letter e) of Directive 2003/71/EC (as amended and complete with any implementing measures applicable in each Member State); (B) in the United Kingdom, professional investment qualified investors coming under Article 19 (5) of the 2005 Order (financial promotion), the Order of Financial Services and markets and/or companies with high shareholders' equity and other persons to whom it can be lawfully disclosed, pursuant to Article 49,

paragraph 2, letters a) to d) of the Order; and (C) other persons to whom this presentation can be legally distributed and disclosed in accordance with applicable laws (all those pursuant to points (A) to (C) above, indicated as "relevant persons").

The information contained in this presentation may include forecasts. Although the Company believes it has a reasonable basis on which to make the forecasts given in this presentation, GPI warns that forecasts are no guarantee of future performance and that the effective operating results, financial conditions and conditions of liquidity and development of the segment in which GPI operates may differ considerably from those effectively achieved or suggested by the declarations given in this presentation or made by the GPI management team. Past performance is also not a reliable indication of future performance.

GPI makes no promise to update or publicly review the forecasts, even if new information is revealed or for any other reason. The information and opinions given in this presentation or in the declarations made by the GPI management team are given as at the date of this presentation or any other date, if indicated, and are subject to change without notice. Do not rely on the information given in this presentation for any purpose. No express or implicit declaration or guarantee is given by GPI, its subsidiaries or the respective consultants, functionaries, employees and agents, as regards the accuracy of information or opinions or for any loss as may derive directly or indirectly from any use of this presentation or its contents. This presentation is not intended for distribution or use by any person or entity that is a citizen or resident of a place, country or other jurisdiction in which such distribution, publication, availability or use may be in conflict with laws or regulations or which would require any registration or licence within such jurisdiction.