Tinexta Spa · MIL:TNXT
Tinexta Spa — 9M 2020 Earnings Presentation
28 slides from Tinexta Spa's earnings presentation, Nov 12, 2020
Slide 1: Results at 30 September 2020
Results at 30 September 2020 12 November 2020
Slide 2: Agenda
Agenda I. 9M YTD 2020 Group Results Highlights 2 II. Business Unit Performance 9 III. Balance Sheet Analysis 17 IV. Outlook 21 Results at 30 September 2020 2 12 November 2020
Slide 3: Summary comments
Summary comments • After a slowdown in March and April, due to the restrictive I. 9M YTD 2020 Results Highlights measures imposed by the Covid-19 pandemic, the resumption of activity from May allowed the Group to report results that exceeded our forecasts in the first 9 months of the year: o YTD Res
Slide 4: 2020 YTD 9M Highlights
I. 9M YTD 2020 Results Highlights Tinexta: 2020 YTD 9M Highlights Summary Economic Data 9M 9M ∆ ∆% (€m) 2020 2019 Revenues 188.9 181.2 7.7 4.3% EBITDA pre-Stock Options 56.1 49.7 6.3 12.7% Operating EBITDA 55.6 46.2 9.4 20.4% Leverage EBIT 37.1 29.6 7.5 25.1% Net Profit 26.3 19.1 7.2 37.8% Adjusted
Slide 5: 2020 9M Consolidated Income Statement
Tinexta: 2020 9M Consolidated Income Statement 9M 9M (€ m) 2020 % 2019 % Change Change % I. 9M YTD 2020 Results Highlights Revenues 188.9 100.0% 181.2 100.0% 7.7 4.3% Total Operating Costs1 132.8 70.3% 131.4 72.5% 1.4 1.1% Costs of raw materials 6.6 3.5% 5.1 2.8% 1.5 28.6% Service costs 59.1 31.3% 5
Slide 6: 2020 3Q Highlights
I. 9M YTD 2020 Results Highlights Tinexta: 2020 3Q Highlights Income Statement 3Q 2020 3Q 2019 ∆ ∆% (€m) Revenues 65.1 54.6 10.5 19.2% EBITDA pre-Stock Options 21.6 14.1 7.5 53.4% EBITDA 21.2 13.8 7.4 53.4% OL EBIT 15.4 8.3 7.1 86.1% Net Profit 10.3 5.1 5.3 103.2% Adjusted Net Profit 11.8 7.0 4.8 68
Slide 7: Adjusted Income Statement by BU
I. 9M YTD 2020 Results Highlights Tinexta: 9 Month Adjusted Income Statement by BU ∆% 9M at EBITDA % 9M at EBITDA % (€ m) ∆ 30/09/2020 30/09/2020 30/09/2019 30/09/2019 Total Organic Perimeter Revenues Digital Trust 82.6 76.8 5.8 7.5% 7.5% 0.0% Credit Information & Management 55.6 52.7 2.8 5.4% 5.4%
Slide 8: LuxTrust: Conversion of the JV in Commercial Alliance
LuxTrust: Conversion of the JV in Commercial Alliance • At the end of the two-year period following the investment, the shareholders InfoCert and LuxTrust Development S.A.1 have verified a divergence of strategic objectives. In fact, LuxTrust Development believes that it is a priority in the coming
Slide 9: Agenda
Agenda I. 9M YTD 2020 Group Results Highlights 2 II. Business Unit Performance 9 III. Balance Sheet Analysis 17 IV. Outlook 21 Results at 30 September 2020 9 12 November 2020
Slide 10: Digital Trust: 9M YTD 2020
Digital Trust: 9M YTD 2020* +9.9% €m +7.5% YTD 9M €m 3Q II. Business Unit Performance 27.5 82.6 25.1 76.8 30.8% 29.2% 27.4% 26.6% +4.2% +4.4% 22.0 7.7 8.0 21.1 Revenues EBITDA Revenues EBITDA 30/09/2019 30/09/2020 Q3'19 Q3 '20 • Demand for Digital Trust continued to be robust in Q3, with particular
Slide 11: DT: the growth continues
DT: the growth continues II. Business Performance: Digital Trust Trusted Onboarding Platform (TOP) Patented solution for identifying clients and signing the contract - 109 clients. 13 outside Italy - Transactions: +44% vs 3Q ’19 - New clients: • Procredit Kosovo • BNL (Gruppo BNP Paribas) • Erste Cr
Slide 12: GoSign: marches on
GoSign: marches on II. Business Performance: Digital Trust The digital solution for qualified signature E-signatures 3Q ’20 vs - Digitization of procedures that 3Q ’19 require a qualified signature 40 37 - 93 Clients. of which 10 non-Italian +18% 35 - more than 100.000 users 29 29.6 - New Customers:
Slide 13: CIM: 9M YTD 2020
CIM: 9M YTD 2020* €m YTD 9M €m 3Q II. Business Unit Performance +5.4% 55.6 +38.7% 52.7 20.5 31.6% 24.0% 36.2% 14.8 21.2% +38.8% +136.4% 17.6 7.4 12.7 3.1 Revenues EBITDA Revenues EBITDA 30/09/2019 30/09/2020 3Q 2019 3Q 2020 • Innolva Group benefited from a different business mix related to the extra
Slide 14: FBS Next: a new partnership for Non-Performing Exposures
FBS Next: a new partnership for Non-Performing Exposures • 28 October FBS Next S.p.A. partnership announced: CIM Business Update o Tinexta invested circa €2 million for a 30% stake o Founded and controlled by the Strocchi family via Sun Up Holding; the Strocchi family has worked in NPLs for over 22
Slide 15: IMS: 9M YTD 2020
IMS: 9M YTD 2020* +15.7% €m -1.8% YTD 9M €m 3Q II. Business Unit Performance 17.0 51.6 50.7 50.8% 46.5% 14.7 39.6% 44.9% +48.4% +1.7% 8.6 23.2 23.6 5.8 Revenues EBITDA Revenues EBITDA 30/09/2019 30/09/2020 Q3'19 Q3'20 • 9M Results: in line with those of 2019 • Q3 continued the trend already in evide
Slide 16: EuroQuality: French beachhead for Warrant Hub
IMS Business Update EuroQuality: French beachhead for Warrant Hub ➢ 11 November Warrant Hub perfected the acquisition of: • Euroquality SAS ("Euroquality"), based in Paris, and • Europroject OOD ("Europroject"), based in Sofia (Bulgaria). ➢ Consultancy companies specialized in supporting their custo
Slide 17: Agenda
Agenda I. 9M YTD 2020 Group Results Highlights 2 II. Business Unit Performance 9 III. Balance Sheet Analysis 17 IV. Outlook 21 Results at 30 September 2020 17 12 November 2020
Slide 18: 9M 2020 YTD Results: Balance Sheet Highlights
9M 2020 YTD Results Principal Balance Sheet Highlights at 30 September 2020 (€ million): III. Balance Sheet Analysis 278.6 The change in net invested capital is 272.6 determined by significant reductions: • in net working capital (€ 17.8 m at Net Invested €256.4 31/12 vs. € 9.8 m at 30/09), and Capi
Slide 19: Net Financial Indebtedness Tinexta Group – Historic development
Net Financial Indebtedness Tinexta Group – Historic development €m 140.2 132.3 129.5 129.1 124.9 111.4 114.6 Dividend IFRS16 Distributions First €16.4m Application (€10.7 m Share Buy-Back 93.4 €15.0 m Tinexta, €5.7 €9.0 m (further Minorities) €1.0 m in Q3) Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 J
Slide 20: Development of Net Financial Indebtedness
Development of Net Financial Indebtedness 129.1 III. Balance Sheet Analysis 10.0 93.4 0.8 0.7 1.8 0.4 0.7 0.2 83.4 2.2 -52.6 Dividends Net Financial Privacy Lab Adjustment to Other NFI NFI Free Cash Lease Buy-Back NFI distributed Expenses Acquisition 31/12/19 Flow Contracts at at to minorities Adjus
Slide 21: Agenda
Agenda I. 9M YTD 2020 Group Results Highlights 2 II. Business Unit Performance 9 III. Balance Sheet Analysis 17 IV. Outlook 21 Results at 30 September 2020 21 12 November 2020
Slide 22: Outlook
Outlook In consideration of the results of the first nine months, as well as the Conclusions performance of the first weeks of the current quarter, it is reasonable to estimate that in 2020 the Group will achieve: • Revenues: over €260 million (previously: over €250 million); • EBITDA close to €80 m
Slide 23: Appendix
Appendix Results at 30 September 2020 23 12 November 2020
Slide 24: 3rd Q Adjusted Income Statement by BU
Tinexta: 3rd Q Adjusted Income Statement by BU ∆% Appendix EBITDA % EBITDA % (€ m) 3Q 3Q ∆ Peri- 3Q 3Q Total Organic meter Revenues Digital Trust 27.5 25.1 2.5 9.9% 9.9% 0.0% Credit Information & Management 20.5 14.8 5.7 38.7% 38.7% 0.0% Innovation & Marketing Services 17.0 14.7 2.3 15.7% 12.9% 2.8%
Slide 25: Results at 30 September 2020 12 November 2020
Results at 30 September 2020 25 12 November 2020
Slide 26: GoSign is the Open Signature Platform
A COMPLETE PLATFORM TO SIGN AND MANAGE WORKFLOWS GoSign is the Open Signature Platform by InfoCert which enables easy and smart management of signature processes GoSign offers an Omnichannel integrated User Experience GoSign offers all variety of electronic signatures and an easy way to achieve the
Slide 27: Giving users all the features they need
…GIVING USERS THE ALL FEATURES THEY NEED Whatever e-signature you have, whoever you want to involve, GoSign is open to all use cases Sign files in any format, .p7m, .pdf Easily create any kind of signature Apply time stamps to your and .xml! On your desktop, workflow: select the documents to be docu
Slide 28: GoSign unlocks all use cases
GOSIGN UNLOCKS ALL USE CASES Sign documents online or offline Create and manage signature workflows Introduce in presence electronic signature 12/11/2020 www.infocert.digital 28