Eurotech S p A : Earnings Call - Q1 2023

2023 first quarter results

INVESTORS LIVE STREAMING PRESENTATION

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Q1 2023 financial highlights

Organic double-digit growth YoY continues +23% at constant exchange rates

Gross Profit Margin close to aspired run-rate 47.7% (w/o InoNet), 46.9% (with InoNet)

EBITDA positive streak continues

YoY swing from -1M€ in Q1 '22 to +1.6M€ in Q1 '23

Net profit in black numbers

thanks to operating leverage and good GPM

Opex in line with Q4 '22

delta YoY vs Q1 '22 mostly due to InoNet consolidation

Net Working Capital still affected by temporary inventory build-up easing during next quarters

Net Financial Position trend chasing NWC some cash parked in inventory

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business

update

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main

initiatives in 2023

to accelerate our journey…

• aimed at shorter Time-To-Market business

win in Assisted & Autonomous Driving win in Consolidated Edge

• aimed at longer

Time-To-Market business

win Edge IoT with Hyperscalers

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