GVS S p A : H1 2022 Results - Slide Presentation

GVS SPA

06.09.2022

Agenda

1	YTD Jun 2022 Outlook

2	Company Presentation

Appendix: Additional Materials

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YTD Jun 2022 GVS Performance Highlights

Sales: 166,6 M€ +17% on the normalized (net Disp. Mask) H1 2021 and +14% on H2 2021.

• HC&LS positive trend with +2% on H1 2021 and +11% on H2 2021.
• E&M stable on the H1 2021 and with a +23% on the H2 2021.
• H&S +273% on the H1 2021, due to the RPB addition, and +17% on the H2 2021.

Adjusted EBITDA: 40 M€ and 24% of Adjusted EBITDA Margin

• H1 2022 Adj EBITDA Margin slightly higher than H2 2021, absorbing all the variables from the scenario (inflactions, freights cost, energy cost, labor cost increase,…) but still reflecting the growth of the organizational structure.

NFP: 396 M€ of Net Financial Position.

• 40 M€ of net operative cash generation.
• STT Acquisition in February 2022.
• Haemotronic Acquisition in June 2022.
• Right of Use about 24 M€, including 14M€ from HT consolidation.

Leverage KPI: Debt/Equity 1,2 e NFP/EBITDA 4,2 on proforma basis

• The two key financial KPI reached the higher level due to the M&A activities concentration.
• 15 days of HT and 4 months of STT need of a proforma recalculation.

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YTD Jun 2022 Evolution of Sales

TOTAL Normalized SALES YTD Jun 2022: 166,6 M€ +14% vs H2 2021 and +17% vs H1 2021

The Healthcare & Lifesciences division is growing on H1 2021 (+2%) and more on the H2 2021 absorbing the slow down of the Air&Gas business with the Liquid business growth due to the organic trend and the M&A addition.

The Energy & Mobility division increases 23% on H2 2021, orders with positive trend for the H2 2022.

The Health & Safety division reflects the seasonability of the blasting business in the SAR product Family (RPB business) registered in the Q1 2022 and the delay of the dust mask of GVS professional business but with positive signals in terms of POs starting from June.

Sales	€ 189,7	€ 148,4	€ 166,6
Normalized		€ 145,5
Sales	€ 141,7	€ 166,6
YTD Giu 2022

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YTD Jun 2022 Evolution of Main Financials

• H1 2022 impacted by the addition of RPB acquisition, STT acquisition (4 months) and half month of Haemotronic acquisition.
• H2 2021 impacted by the addition of RPB acquisition (4 months) and a residual part of the Covid related extraordinary sales
• H1 2021 impacted by the extraordinary sales generated by the Covid 19 needs.
• Normalization: Sales and EBITDA less the extraordinary impact generated by Covid 19.

* Organic EBITDA %

36,6%*

22,6%*

23,4%*

This document and all its contents are property of GVS. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than GVS, is severely forbidden.