Unidata S.p.a. · MIL:UD
Unidata — H1 2023 Earnings Presentation
26 slides from Unidata's earnings presentation, Sep 13, 2023
Slide 1: Investor Presentation H1 2023 Results
13TH SEPTEMBER 2023 INVESTOR PRESENTATION H1 2023 Results
Slide 2: Today's Speakers
TODAY’S SPEAKERS Renato Brunetti Roberto Giacometti Chairman & CEO CFO & Investor Relations Officer Expert in IT systems and software projects. Expert in Administration, Finance, Planning and In 1985, he founded Unidata together with Control. He held the position of General Manager two partners, gui
Slide 3: Index
INDEX ACHIEVEMENTS FINANCIALS H1 2023 GROWTH STRATEGY APPENDIX
Slide 4: Achievements
ACHIEVEMENTS UNIDATA EOS
Slide 5: Achievements H1 2023
ACHIEVEMENTS H1 2023 February 13th February 21st February 28th March 16th March 27th June 6th Unidata wins the Capital increase Closing of the Unidata and TWT JV with Azimut to Listing on tender for the IoT through the issue acquisition of launch the first build 900 km of Euronext Milan – system of
Slide 6: Key Financials H1 2023
KEY FINANCIALS H1 2023
Slide 7: Financial Highlights H1 2023
Financial FINANCIALHighlights HIGHLIGHTSFY2021 UNIDATA GROUP H1 2023 +93% +68% 49.6 M€ Revenues EBITDA Adjusted NFP 41.7 M€ 9.4 M€ (cash negative) (21.6 M€ in H1 2022)* (5.6 M€ in H1 2022)* (9.6 M€ in FY 2022)* +15% +450km 15.5 M€ Direct Customer Growth Optical Fiber Total Investments in 20,956 >5,9
Slide 8: Strong Revenues Generation
Financial STRONG Highlights REVENUES FY2021 GENERATION Revenues H1 2023 breakdown • Consolidated revenues strongly increased by over Other Revenues 2.2% 93%, thanks to the inclusion of the recently acquired TWT Group in the perimeter. Consumer 4.8% Business 12.1% • “Stand-alone” revenues1 showed an
Slide 9: Outstanding and Continuous Growth (1/2)
OUTSTANDING AND CONTINUOUS GROWTH (1/2) EBITDA & Margin EBITDA bridge CAGR H1 2021 – H1 2023: 62% 25.7% 25.9% 22.6% 9.4 5.6 3.6 H1 2021 H1 2022 H1 2023 EBITDA EBITDA Adjusted H1 2022 H1 2023 EBITDA EBITDA margin • The improvement in EBITDA in H1 2023 is strictly related to the consolidation of TWT G
Slide 10: Outstanding and Continuous Growth (2/2)
OUTSTANDING AND CONTINUOUS GROWTH (2/2) EBIT & Margin Net Income & Margin CAGR H1 2021 – H1 2023: 95% 10.8% 14.1% 13.7% 3.0 Extraordinary fiscal impact ~1.8 mn 5.7 2.4 2.1 3.0 1.5 H1 2021 H1 2022 H1 2023 H1 2021 H1 2022 H1 2023 Adjusted EBIT EBIT margin Net Income +87% YoY +15% YoY
Slide 11: Net Financial Position Bridge
NET FINANCIAL POSITION BRIDGE 13.6 14.1 (1.0) (7.4) (1.5) (9.6) (4.9) 5.5 (1.1) (49.6) (57.3) Net Cash/ Net Cash/ (Net debt) (Net debt) Dec ‘22 June ‘23
Slide 12: Growth Strategy
GROWTH STRATEGY
Slide 13: Unidata: Next-Generation Communication Service Provider
UNIDATA: NEXT-GENERATION COMMUNICATION SERVICE PROVIDER UNIDATA HAS ALWAYS BEEN DIFFERENT FROM A TRADITIONAL TELCO We took a different path of innovation, anticipated the times and used new technologies, niche opportunities, speed of execution and ability to adapt. These are key characteristics in t
Slide 14: IoT and Smart Metering: Tenders Awarded in 2023
IoT AND SMART METERING: TENDERS AWARDED IN 2023 Award in Temporary Grouping of Award in Public Private Partnership of the Award of the contract for the Companies, with the role of Mandatory, concession for the implementation and Connectivity service for the meters of with BIP S.p.A. and Lektor S.r.l
Slide 15: Appendix
APPENDIX
Slide 16: Unlocking Hidden Value Across a Very Diversified Portfolio of Assets
UNLOCKING HIDDEN VALUE ACROSS A VERY DIVERSIFIED PORTFOLIO OF ASSETS UNIDATA: EV/EBITDA 23-24 on Market Cap approx. €120 million: 6.8 - 5.7 * 7-8x 5-6x B2B Telco Services 10-14x 100% 100% 100% B2C Telco Services Internet of Things 30% 25% UNICENTER 33.3% 18-20x 16-18x 12-13x *Source: Intermonte as a
Slide 17: TWT Group
TWT GROUP • Founded in 1995 in Milan, TWT Group is a primary Italian TLC, connectivity and ICT services operator specialized in the B2B segment1 • TWT Group’s vision is to become a recognized “atelier of telecommunications” with a bespoke B2B offering Proprietary optic fiber in Proprietary datacente
Slide 18: Unidata & TWT: Strong Complementarity
UNIDATA & TWT: STRONG COMPLEMENTARITY Central Italy & recent Domestic reach, with a strong Geography expansion in Puglia presence in entire Italy Corporate / Wholesale White Label / Corporate Commercial B2B & Consumer Only B2B Historical core Asset-light Infrastructure business (focus on services) N
Slide 19: Current Unidata Group Customers
CURRENT UNIDATA GROUP CUSTOMERS 20,956 32,986 Unidata & TWT Consumer and Business Active lines at national level through a network of Customers more than 350 partners 53,942 customers
Slide 20: Industrial Synergies 2023-2025
INDUSTRIAL SYNERGIES 2023-2025 The acquisition of TWT Group will allow several business synergies and cost savings that will generate year by year a positive impact on EBITDA and EBITDA Margin: Continuous growth of both Unidata and TWT core business in B2B channels Sale of the offering of Unidata th
Slide 21: Unitirreno (JV with Azimut)
UNITIRRENO (JV WITH AZIMUT) Closing signed in 2023 with Azimut - Fondo Infrastrutture per la Crescita ESG1 and the activity already started. Submarine cable system in Tirreno Sea of about 900 km from Mazara del Vallo to Genova, with a junction point near Rome-Fiumicino and one in Sardinia. INDUSTRIA
Slide 22: The Shortest and Most Reliable Path to Northern Europe
THE SHORTEST AND MOST RELIABLE PATH TO NORTHERN EUROPE 4Q 2022 – 2Q 2024 – 1Q 2025 2Q 2025 1Q 2024 4Q 2024 Marine Survey Subsea and System Ready for Process & Permits Equipment Cable Deployment Service Application Manufacturing KEY INDUSTRIAL PARTNERS Marine Deployment System vendor
Slide 23: Financial Structure of the Project
FINANCIAL STRUCTURE OF THE PROJECT FINANCIAL INVESTMENT % of Total Investment % of Equity Investment Unidata Eu 12.0 - 18.0 mn ~ 33.3 - 51.0% Azimut Eu 18.0 - 24.0 mn ~ 49.0 - 67.7% IRR DOUBLE DIGIT Equity Eu 36.0 mn 100% 45.0% Last M&A transactions multiples1 External and Self Eu 44.0 mn 55.0% Fina
Slide 24: Shareholders & Governance
SHAREHOLDERS & GOVERNANCE UNINVEST S.r.l.1 2 BOARD OF DIRECTORS BOARD OF STATUTORY AUDITORS 1) Equally owned by R. Brunetti, M. Vispi and C. Bianchi; 2) Entirely owned by M. Colli; 3) Including treasury shares.
Slide 25: Disclaimer
Disclaimer This document has been prepared by UNIDATA S.p.A. (the “Company") solely for information purposes. It contains summary information only and is therefore preliminary in nature. Tt has also been prepared without any intention of being exhaustive. THIS PRESENTATION AND THE ASSOCIATED VERBAL
Slide 26: Unidata S.p.A. Investor Relations Contacts
Unidata S.p.A. ROBERTO GIACOMETTI CFO & Investor Relations Officer +39 329 2478696 [email protected] CDR Communication S.r.l. Investor Relations Consultant SILVIA DI ROSA +39 335 7864209 [email protected] ELEONORA NICOLINI +39 333 9773749 [email protected]