Eurotech S p A : Conference Call Presentation - November 16th

2020

NINE MONTHS RESULTS CONFERENCE CALL

November 16th, 2020

Disclaimer

This presentation has been prepared by Eurotech S.p.A. (or "Eurotech") and has to be read in conjunction with its oral presentation.

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FINANCIAL

HIGHLIGHTS

30 September 2020

3

3

REVENUES
30 September 2020-2019(€/000)
90
80
	-34.0%
70
60
50
40
30
20
10
-
2020	9M	2019

4

REVENUES BY GEOGRAPHIC AREA

30 September 2020-2019(€/000)

€'000	9M 2020	%	9M 2019	%	VAR. %
BREAKDOWN BY GEOGRAPHIC AREA
European Union	12,639	24.0%	19,454	24.4%	-35.0%
United States	19,427	37.0%	38,456	48.3%	-49.5%
Japan	17,403	33.1%	18,693	23.5%	-6.9%
Other	3,103	5.9%	3,095	3.9%	0.3%

	TOTAL SALES AND SERVICE REVENUES	52,572	100.0%	79,698	100.0%	-34.0%
	Other					Other
6%					4%
				Japan
	European Union	24%			European Union
Japan	24%				24%
33%
2020					2019

United States

37%United States

48%5

GROSS PROFIT MARGIN

	30 September 2020-2019(€/000)
45
		50.3%
40
35
30	53.0%
25
20
15
10
5
-
		9M
	2020	2019

6

18

16

14

12

10

8

6

4

2

-

EBITDA

30 September 2020-2019(€/000)

20.3%

16,192

9.3%

4,869

	9M
2020	2019

7

	EBIT
30 September 2020-2019(€/000)
14	16.6%
12
10
8
6
4
3.4%
2
-
	9M
2020	2019

8

GROUP's NET RESULT

	30 September 2020-2019(€/000)
14.000
	15.0%
12.000
10.000
8.000
6.000
4.000
2.000	1.3%
0	0,672
	9M 9M

2020		2019

9

NET DEBT - CASH POSITIVE

30 September 2020, 31 December 2019 and 30 September 2019 (€/000)

at Sep 30, 2020 at Sep 30, 2020 at Dec 31, 2019

at Sep 30, 2019

(NO IFRS 16)

10

EQUITY, CASH AND NET DEBT

30 September 2020 and 31 December 2019 (€/000)

140.000
120.000
100.000
80.000
60.000	6,357	29,894
40.000
20.000
0
			at Sep 30, 2020
		SHAREHOLDERS' EQUITY		NET FINANCIAL POSITION

12,249

30,687

at Dec 31, 2019

CASH & CASH EQUIVALENTS

11

NET WORKING CAPITAL

30 September 2020, 31 December 2019 and 30 September 2019 (€/000)

at Sep 30, 2020

at Dec 31, 2019

at Sep 30, 2019

12

EMPLOYEES

Headcount at the end of each period

0

0

0

0

0

at Sep 30, 2020

at Dec 31, 2019

at Sep 30, 2019

13

CONSOLIDATED INCOME STATEMENT

€'000	9M 2020	%	9M 2019	%
OPERATING RESULTS
SALES REVENUES	52,572	100.0%	79,698	100.0%
GROSS PROFIT	27,889	53.0%	40,050	50.3%
EBITDA	4,869	9.3%	16,192	20.3%
EBIT	1,802	3.4%	13,250	16.6%
PROFIT (LOSS) BEFORE TAXES	1,630	3.1%	13,116	16.5%
GROUP NET PROFIT (LOSS) FOR THE PERIOD	672	1.3%	11,927	15.0%

14

CONSOLIDATED BALANCE SHEET

	at Sep 30, 2020	at Dec 31, 2019
(€'000)
ASSETS
Intangible assets	88,135	88,905
Property, Plant and equipment	6,186	6,565
Investments in other companies	557	162
Deferred tax assets	7,841	7,981
Medium/long term borrowing allowed to affiliates
companies	60	89
Other non-current assets	674	665
Total non-current assets	103,453	104,367
Inventories	19,442	21,256
Trade receivables	14,819	11,707
Income tax receivables	612	269
Other current assets	2,319	2,115
Other current financial assets	93	108
Cash & cash equivalents	29,894	30,687
Total current assets	67,179	66,142
Total assets	170,632	170,509

	at Sep 30, 2020	at Dec 31, 2019
(€'000)
LIABILITIES AND EQUITY
Share capital	8,879	8,879
Share premium reserve	136,400	136,400
Other reserves	( 22,976)	(20,623)
Group shareholders' equity	122,303	124,656
Equity attributable to minority interest	0	0
Total shareholders' equity	122,303	124,656
Medium-/long-term borrowing	16,366	11,590
Employee benefit obligations	2,762	2,604
Deferred tax liabilities	3,243	3,097
Other non-current liabilities	1,032	1,060
Total non-current liabilities	23,403	18,351
Trade payables	9,616	11,562
Short-term borrowing	7,246	7,001
Derivative instruments	78	44
Income tax liabilities	427	1,182
Other current liabilities	7,559	7,713
Total current liabilities	24,926	27,502
Total liabilities	48,329	45,853
Total liabilities and equity	170,632	170,509

15

THANK

YOU!

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