CELLULARLINE S.P.A.: Presentation HI 2023 Financial Results

H1 2023 - Financial Results Reggio Emilia - 7 September 2023

Disclaimer

This document has been prepared for preliminary discussions in relation to Cellularline S.p.A. (the "Company") and its affiliates (together, the "Group"). This document, the information contained

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Highlights

• Revenues for the period at €67,8M, growing 24,3% compared to H1 2022. International Revenues are now 55,5% of Group's Revenues (53% in H1 2022)
• Gross margin improving from 35,4% to 35,9% - but cost of goods sold still impacted by stock purchased in 2022 (high US $ and transportation costs)
• EBITDA Adj. at € 4,6M, with an increase of € 1,2M vs. H1 2022
• Net Result Adj. (€ -1,1M vs. - €0,3M in H1 2022), mainly impacted by higher interest rates
• Net Debt is €48.6M as of 30.06.2023 vs. € 40,4M as of 31.12.2022; growth mainly due to the acquisition of Peter Jäckel GmbH (€6.9M, including also valuation of the Put/Call options for the purchase of the remaining capital and net financial debt of the acquired company)
• Dividend distribution of 741.108 ordinary shares (1 ordinary share for every 28 ordinary shares held)
• Outlook for the remainder of the year is still positive, based on expected market evolution and management actions taken
• In addition, management believes that the Group is positioned to maintain solid growth in the medium term

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Key financials (€M)

Revenues	EBITDA Adj.
(€M)	(€M)

67,8

Net Result Adj.	Net Financial Position
(€M)	(€M)

2,7x

2,4x

48,6

1	acquisition

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Focus on Revenues

Revenues bridge

(€M)

Product

Line

Geo

• Revenues increased by +24,3% compared to last year, showing solid and significant growth
• Red line (approx. 80% of total Revenues) is the major contributor thanks to:
• • Increasing performance of Cellularline and Skross products in international markets
  • First consolidation of Peter Jäckel (€2,5M)
• International revenues are leading Group's growth and are now 55,5% of Group turnover (52,8% in 2022)

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