Tinexta Spa · MIL:TNXT
Tinexta Spa — H1 2020 Earnings Presentation
22 slides from Tinexta Spa's earnings presentation, Aug 5, 2020
Slide 1: First Half 2020 Results
First Half 2020 Results 5 August 2020
Slide 2: Agenda
Agenda I. H1 2020 Group Results Highlights 2 II. Business Unit Performance 6 III. Balance Sheet Analysis 14 IV. Outlook 18 First Half 2020 Results 2 5 August 2020
Slide 3: Summary comments
Summary comments • The resilience of the business combined with the prompt I. H1 2020 Results Highlights responsiveness of the management generated positive results in the second quarter • All the BU contributed to the solid performance • Digital Trust is back to generating solid revenue and margin
Slide 4: Tinexta: 2020 H1 Highlights
I. H1 2020 Results Highlights Tinexta: 2020 H1 Highlights Income Statement First Half First Half ∆ ∆% (€m) 2020 2019 Revenues 123.8 126.6 -2.8 -2.2% EBITDA pre-Stock Options 34.5 35.7 -1.2 -3.4% EBITDA 34.4 32.4 2.0 6.3% EBIT 21.7 21.4 0.3 1.4% Net Income 16.0 14.0 2.0 14.1% Net Income adjusted 16.7
Slide 5: Consolidated Income Statement 1st Half
Tinexta: 2020 H1 Highlights Consolidated Income Statement 1st Half % 1st Half 2019 % Change Change % I. H1 2020 Results Highlights (in millions of Euro) 2020 Revenues 123.8 100.0% 126.6 100.0% -2.8 -2.2% Total Operating Costs1 89.4 72.2% 90.9 71.8% -1.6 -1.7% Costs of raw materials 4.5 3.6% 3.4 2.7%
Slide 6: Tinexta: 2020 Q2 Highlights
I. H1 2020 Results Highlights Tinexta: 2020 Q2 Highlights Income Statement Q2 2020 Q2 2019 ∆ ∆% (€m) Revenues 68.9 66.9 2.0 3.1% EBITDA pre-Stock Options 23.5 20.6 2.9 14.3% EBITDA 23.5 17.9 5.6 31.1% EBIT 17.0 12.2 4.8 39.3% Net Income 13.1 8.2 4.9 60.2% Net Income adjusted 12.8 11.6 1.2 10.1% Free
Slide 7: Agenda
Agenda I. H1 2020 Group Results Highlights 2 II. Business Unit Performance 6 III. Balance Sheet Analysis 14 IV. Outlook 18 First Half 2020 Results 7 5 August 2020
Slide 8: H1 & Q2 Summary Adjusted Income by BU
Tinexta: 2020 H1 & Q2 Summary Adjusted Income* by BU First Half EBITDA % First Half EBITDA % ∆ % Summary Income Statement by BU ∆ 2020 2020 2019 2019 I. H1 2020 Results Highlights Total Organic Perimeter Revenues Digital Trust 55.0 51.7 3.3 6.3% 6.3% 0.0% Credit Information & 35.0 37.9 -2.9 -7.6% -7
Slide 9: Digital Trust: 1st Half 2020
Digital Trust: 1st Half 2020* II. Business Unit Performance € ‘000 +6.3% € ‘000 60.0 55.0 H1 Q2 51.7 50.0 +9.6% 40.0 35.0 27.8% 27.6% 25.8% 25.4% 29.1 30.0 26.6 30.0 25.0 +4.5% 20.0 20.0 +9.1% 13.4 14.0 15.0 10.0 7.4 8.0 10.0 5.0 0.0 0.0 Revenues EBITDA Revenues EBITDA H1 2019 H1 2020 EBITDA Margin
Slide 10: DT: the growth continues
DT: the growth continues Trusted Onboarding Platform (TOP) Patented solution for identifying clients and signing the contract (flows - 101 clients, 13 outside Italy in milions) - Transactions: +44% vs H1’19 - New clients: • Banca Privata Leasing • Borica • Cassa Lombarda • Emil BCC • Landesbank • MP
Slide 11: GoSign: marches on
GoSign: marches on The digital solution for qualified signature (flows - Digitization of procedures that in milions) require a qualified signature - 77 Clients, of which 5 non- H1’20 vs H1’19 Italian +33% - more than 100,000 users - GoSign Pipeline is solid, supported by GoSign Grapho program - New
Slide 12: CIM: 1st Half 2020
CIM: 1st Half 2020* II. Business Unit Performance € ‘000 -7.6% € ‘000 H1 Q2 40.0 37.9 35.0 35.0 -2.7% 30.0 20.0 18.5 18.1 36.4% 29.0% 25.0 25.1% 15.0 20.0 22.9% +6.6% 15.0 10.0 10.2 +55.0% 6.6 9.5 10.0 4.2 5.0 5.0 0.0 0.0 Revenues EBITDA Revenues EBITDA H1 2019 H1 2020 EBITDA Margin Q2 2019 Q2 2020
Slide 13: IMS: H1 2020
IMS: H1 2020* II. Business Unit Performance € ‘000 € ‘000 -8.8% 52.6% 53.3% 40.0 36.9 47.1% -0.1% 33.7 44.4% 35.0 25.0 21.8 21.7 30.0 20.0 25.0 -14.0% +0.1% 20.0 17.4 15.0 11.6 15.0 11.5 15.0 10.0 10.0 5.0 5.0 0.0 0.0 Revenues EBITDA Revenues EBITDA H1 2019 H1 2020 EBITDA Margin Q2 2019 Q2 2020 • H1
Slide 14: IMS: business resilience
IMS: business resilience R&D Tax Credit Applications Processed 500 450 400 350 300 250 200 150 100 50 0 Jan Feb Mar Apr May Jun 2018 2019 2020 • As demonstrated in the above graph the activity related to Tax Credits for R&D continued in Q1 and remained at a high level in Q2 • The backlog of applicat
Slide 15: Agenda
Agenda I. H1 2020 Group Results Highlights 2 II. Business Unit Performance 6 III. Balance Sheet Analysis 14 IV. Outlook 18 First Half 2020 Results 15 5 August 2020
Slide 16: 2020 H1 Results: Principal Balance Sheet Highlights
2020 H1 Results Principal Balance Sheet Highlights at 30 June 2020 (€ million): III. Balance Sheet Analysis - 3.7% The change in net invested capital was 278.6 affected by the dynamics of working capital in which receivables decreased 268.1 more than proportionally with respect to Net Invested €268.
Slide 17: Analysis of Net Financial Indebtedness
CONSOLIDATO TINEXTA 2020 30-giu-20 A. DEBITO BANCARIO A MLT (117,3) Debito bancario MLT nominale (119,8) Costo ammortizzato finanziamenti 2,6 B. ALTRI DEBITI FINANZIARI (40,1) Debiti Bancari correnti (anticipazioni C/C, carte di credito) (0,3) Debiti da acquisizioni (Vendor Loan, Earn Out e Put) (22
Slide 18: Development of Net Financial Indebtedness
III. Balance Sheet Analysis Development of Net Financial Indebtedness €m 140 129.1 -28.9 120 9.0 114.6 1.8 0.4 0.1 0.1 105.6 0.4 0.4 2.2 100 80 129.1 60 40 20 0 NFI Dividends Adjustments Put Option Other NFI Buy-Back NFI 31/12/19 distributed to Derivatives Adjustments at at to minorities Adjustment
Slide 19: Agenda
Agenda I. H1 2020 Group Results Highlights 2 II. Business Unit Performance 6 III. Balance Sheet Analysis 14 IV. Outlook 18 First Half 2020 Results 19 5 August 2020
Slide 20: Outlook
Outlook • The positive performance of the Group in First Half 2020 highlighted Conclusions the resilience of the business areas, as well as the ability of management to react promptly to the new scenario. This occurred both by speeding up the time to market of the offer of innovative products and se
Slide 21: 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 to
Slide 22: Investor relations
Investor relations: [email protected]