EL En S p A : Conference call - H1 2023- Financial results - Sept. 13

COMPANY PRESENTATION

CONFERENCE CALL

H1 2023 Financial results

September 13th, 2023

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DISCLAIMER

Certain statements in this slide show, including those addressing the Company's beliefs, plans, objectives, estimates or expectations of possible future results or events, are forward-looking statements. Forward- looking statements involve known or unknown risks, including general economic and business conditions, and conditions in the industry we operate and may be affected should our assumptions turn out to be inaccurate. Consequently, no forward-looking statement can be guaranteed and actual future results, performance, or achievements may vary materially from those expressed or implied by such forward- looking statements. The Company undertakes no obligation about the contents nor to update the forward- looking statements to reflect events or circumstances that may arise after the date hereof.

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Income Statement - H1 2023

Euro '000	30/06/22	%	30/06/23	%	Var. %
				unaudited
Medical	182.936	55,9%	198.505	57,4%	8,5%
Industrial	144.038	44,1%	147.120	42,6%	2,1%
Revenues	326.975	100,0%	345.625	100,0%	5,7%
Gross margin	121.855	37,3%	131.473	38,0%	7,9%
Operating Expenses	27.646	8,5%	30.622	8,9%	10,8%
Staff espenses	46.982	14,4%	55.197	16,0%	17,5%
EBITDA	47.227	14,4%	45.654	13,2%	-3,3%
Depr., amort., accruals	5.836	1,8%	6.780	2,0%	16,2%
EBIT	41.391	12,7%	38.874	11,2%	-6,1%
Net financ.income(charges)	255	0,1%	(1.028)	-0,3%
Other income (expense) net	7	0,0%	(5)	0,0%
EBT	41.653	12,7%	37.842	10,9%	-9,1%
Income taxes	11.011	3,4%	10.991	3,2%	-0,2%
Minorities	2.219	0,7%	1.075	0,3%	-51,5%
NET INCOME	28.422	8,7%	25.776	7,5%	-9,3%

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Balance Sheet - H1 2023

Euro '000	31/12/22	30/06/23	Var.%
	restated	unaudited
Total non current assets	165.786	166.269	0,3%
Net Working Capital	200.536	256.157	27,7%
Other receivables/payables ST	(80.154)	(65.361)	-18,5%
Net financial position	75.364	10.156	-86,5%
Long term liabilities	18.077	17.307	-4,3%
Net Equity	343.455	349.915	1,9%
Net capital employed	268.092	339.759	26,7%

Net Working Capital on sales	29,8%	37,1%
ROCE	30,2%	22,9%
(EBIT/Net capital employed)
Operating Capex	23.150	7.730

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Restatment 2022

		Restated
Reclassified balance sheet	31/12/22	31/12/22	Diff.
Fixed asset	165.786	165.786	0
Net working capital	200.536	200.536	0
Other receivables / payables ST	(80.154)	(80.154)	0
Net financial position	88.546	75.364	(13.182)
Long term liabilities	18.077	18.077	0
Total Net Equity	356.637	343.455	(13.182)
Net capital employed (PN-PFN)	268.092	268.092	0

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