Tinexta Spa · MIL:TNXT
Tinexta Spa — Deutsches Eigenkapitalforum 2022
26 slides from Tinexta Spa's conference presentation, Nov 28, 2022
Slide 1: Company Presentation Deutsches Eigenkapitalforum 2022
Company Presentation Deutsches Eigenkapitalforum 2022 Frankfurt November 28-29, 2022
Slide 2: Agenda
Agenda 1 Company Overview 2 9M 2022 Results 3 2022 – 2024 Plan 4 Appendix 2
Slide 3: Tinexta's Management
1 Tinexta’s Management PIER ANDREA CHEVALLARD ODDONE POZZI JOSEF MASTRAGOSTINO General Manager & Chief Executive Officer Group Chief Financial Officer Chief Investor Relations Officer ▪ Former CEO of Tecno Holding ▪ Group Chief Financial Officer and ▪ Head of Investor Relations ▪ General Secretary o
Slide 4: Tinexta's history & evolution
1 Tinexta’s history & evolution Tinexta has successfully grown into one of the largest qualified operators in the Financial Services sector in Italy Entrance in Spain + Tecno Holding Listing on AIM Italia Listing on the STAR Internationalization Cyber Security + France Sale of CIM 2009 2014-2015 201
Slide 5: Tinexta's Business
1 Tinexta’s Business Key metrics (FY’21, Restated) – 2022 Guidance restated for CI&M Revenues* EBITDA Adj.* NFP/EBITDA Adj. Net Profit FCF Dividend Employees €375M €99M 2.67x €40M >€55M €0.30 or 35% 2,259 * Include CertEurope as of November 2021 and Forvalue as well as other minor acquisitions. Reve
Slide 6: Pro forma Financials on 2021 Results by Business Unit
1 Pro forma Financials on 2021 Results by Business Unit CREDIT INFORMATION & INNOVATION & DIGITAL TRUST CYBER SECURITY MANAGEMENT MARKETING SERVICES Revenues €131M €73M €79M €95M EBITDA Adj. €36M €10M €23M €41M EBITDA Adj. Margin 28% 14% 29% 43% Pre transaction 2021 Pro forma 25% 32% 35% Revenues 44
Slide 7: Results 2021 – Trend
1 Results 2021 – Trend Tinexta Group's Revenues grew at a 25.5% CAGR from 2014 to 2021. EBITDA Adjusted grew at a 36.6% CAGR over the same period. Revenues (€M) EBITDA Adjusted (€M) NFP (€M) NFP/EBITDA Adj.* 375.4* 2.67x 98.7* Considering Bregal’s investment of €70M completed on 3 February 2022: 85.
Slide 8: Agenda
Agenda 1 Company Overview 2 9M 2022 Results 3 2022 – 2024 Plan 4 Q&A 8
Slide 9: 9M'22 Results
2 9M’22 Results Data, and PY comparisons, are provided excluding CIM activities. Forvalue is included in IMS 9M 2022 show Revenues of 246.7 million euros, EBITDA adjusted of 54.8 million euros and Net Profit from continuing operations of 18.5 million euros. EBITDA Reported is 48.9 million euros. • 9
Slide 10: Agenda
Agenda 1 Company Overview 2 9M 2022 Results 3 2022 – 2024 Plan - 2022 – 2024 Plan - 2022 – 2024 Plan + M&A 4 Q&A 10
Slide 11: Key pillars of our strategy – 2022-2024 Plan
3 Key pillars of our strategy – 2022-2024 Plan Strengthen our leadership in Continue to leverage on Selective M&A + our reference markets strong organic growth Internationalization 1 2 3 People & Organization Increase integration + Laser focused financial policy ESG 4 5 6 PNRR «Piano Nazionale di Ri
Slide 12: Key pillars of our strategy – Strengthen leadership 1/6
3 Key pillars of our strategy – 2022-2024 Plan 1/6 ➢ Strengthen market presence via vertical integration in: ❖ Digital Trust ❖ Cyber Security ❖ Digital Innovation Strengthen our leadership in ❖ Digital Marketing our reference markets ➢ Grow presence in the Public Administration market 1 ➢ Foster cro
Slide 13: Key pillars of our strategy – Organic growth 2/6
3 Key pillars of our strategy – 2022-2024 Plan 2/6 ➢ Strong sector organic growth yields continuous momentum for Tinexta Continue to leverage on ➢ The markets in which the Group operates are growing at attractive rates strong organic growth ➢ The Group’s product offering is constantly fine tuned to
Slide 14: Key pillars of our strategy – Selective M&A 3/6
3 Key pillars of our strategy – 2022-2024 Plan 3/6 Major M&A Stringent criteria Digital Trust Credit Information & Mgmt Solid Business Fundamental Only Selective M&A with key strategic criteria to enter Tinexta Growing market segment Group Selective M&A + Strategic Fit & Finish Internationalization
Slide 15: Key pillars of our strategy – Integration 4/6
3 Key pillars of our strategy – 2022-2024 Plan 4/6 ➢ Centralized CRM ➢ Group Sales & Marketing enables: ❖ Central coordination for the development of an integrated offer of the Group and the related “go to market” ❖ Streamlining the newly instituted Forvalue channel to strengthen the Increase integr
Slide 16: Key pillars of our strategy – People & Organization 5/6
3 Key pillars of our strategy – 2022-2024 Plan 5/6 Group FTE & by BU ➢ Higher growth of employment - driven by business expansion (mainly M&A) - 2259 requires solid grounds of project analysis and involves the redefining of the: 1272 1285 ❖ Organization & integration of People & Organization process
Slide 17: Key pillars of our strategy – ESG
3 Key pillars of our strategy – 2022-2024 Plan - ESG 5/6 Environment, Social & Governance Key accomplishments in 2021 What to expect Beyond 2022 Main activities: Environmental Social ✓ From Compliance to Engagement ▪ Benchmark ✓ Performed Benchmark ESG with Gap analysis to better ▪ Gap Analysis unde
Slide 18: Key pillars of our strategy – Financial policy 6/6
3 Key pillars of our strategy – 2022-2024 Plan 6/6 ➢ Continue to focus on Cash Flow constantly applying a “Cash is King” approach ➢ Attractive leverage ratio ❖ Pro-forma leverage ratio for Bregal’s investment yields competitive Laser focused financial policy ratios ➢ Strong attention to cost 6 ➢ Env
Slide 19: Key pillars of our strategy – PNRR
3 Key pillars of our strategy – 2022-2024 Plan PNRR PNRR Funding (€B) PNRR Allocations (€M) Recovery Plan - PNRR «Piano Nazionale di Ripresa e Resilienza» 7 ➢ Among the PNRR’s priorities, Digitalization assumes a pivotal role of role and Tinexta is expected to strongly benefit from it in an indirect
Slide 20: Italy & Digitalization: critical aspects
3 Key pillars of our strategy – 2022-2024 Plan PNRR Italy & Digitalization: 4 critical aspects that deserve top priority Low digitalization of the economy and society Italy 25th in the European Commission's DESI digitization index Recovery Plan - PNRR Skills shortage Delays in the digitalization of
Slide 21: 2022 Guidance
3 2022 Guidance Data, and PY comparisons, are provided excluding CIM activities. Forvalue is included in IMS ✓ Guidance confirmed Guidance* 2022 (with acquisitions) Revenues ~ 21-23% growth vs PY EBITDA Adjusted ~ 25-27% growth vs PY NFP/EBITDA Adjusted ~ 0.6x * Guidance is calculated on a restated
Slide 22: Agenda
Agenda 1 Company Overview 2 9M 2022 Results 3 2022 – 2024 Plan - 2022 – 2024 Plan - 2022 – 2024 Plan + M&A 4 Q&A 22
Slide 23: M&A: The track record
3 M&A: The track record • A consolidated track record in delivering accretive M&A • Since 2013 Tinexta has completed 27 M&A Deals for a total investment of about €450M • Divested the Credit Information & Management division for €237.5M (EV) or c.11x EV/Adj. EBITDA 2020 2021 2022 Sep Oct Dec Jan Jun
Slide 24: Agenda
Agenda 1 Company Overview 2 9M 2022 Results 3 2022 – 2024 Plan 4 Q&A 24
Slide 25: Disclaimer
Disclaimer • This document was prepared by Tinexta Spa (the “Company”) for the sole purpose of presenting the performance and the activities of the Company. • The information provided with this document does not contain nor constitute an offer of securities for sale, or the solicitation of an offer
Slide 26: Digital link: download our presentation
Digital link: download our presentation Investor relations: [email protected]