Intercos S p A : Earning Call FY21

Disclaimer

IMPORTANT NOTICE

This presentations is being furnished to you solely for your information and may not be reproduced or redistributed to any other person.

This presentation might contain certain forward-looking statements that reflect the Company's management current views with respect to future events and financial and operational performance of the Company and its subsidiaries.

These forward-looking statements are based on Intercos current expectations and projections about future events. Because these forward-looking statements are subject to risks and uncertainties, actual future results or performance may differ materially from those expressed in or implied by these statements due to any number of different factors, many of which are beyond the ability of Intercos to control or estimate. You are cautioned not to place undue reliance on the forward-looking statements contained herein which are made only as of the date of this presentation. Intercos does not undertake any obligation to publicly release any updates or revisions to any forward-looking statements to reflect events or circumstances after the date of this presentation.

Any reference to past performance or trends or activities of Intercos shall not be taken as a representation or indication that such performance, trends or activities continue in the future.

This presentation does not constitute an offer to sell or the solicitation of an offer to buy the Group's securities, nor shall the document form the basis of or be relied on in connection with any contract or investment decision relating thereto, or constitute a recommendation regarding the securities of Intercos.

Intercos securities referred to in this document have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Pietro Oriani, the Manager in charge of preparing the corporate accounting documents, declares that, pursuant to art. 154-bis, paragraph 2, of the Legislative Decree no.58 of February 24, 1998, the accounting information contained herein correspond to document results, books and accounting records.

2

Agenda

3

2021 Executive Summary
Net Sales		Adj. EBITDA		Adj. Net income
€673.7m		€101.1m		€41.2m
		15.0% on Net Sales
+11.1% Rep FX				+57.7%
+11.8% c.FX		+16.3%
		+68Bps EBITDA on net sales

Cash Flow	Net Debt	ESG Rating
before IPO proceeds	€126.6m	Platinum medal awarded
€29.8m
1.25x Net Debt to EBITDA ratio	by EcoVadis
+€41.4m(*)	-€67.3m	Intercos within the Top 1% of
	-0.98x	companies in its sector

(*) in FY20 Cash Flow was affected by the acquisition of Intercos Korea

Delivered strong sales and earning growth

4

2021 and Q4 results overview

€m	2021	2020	2020 LfL	% vs 2020	% vs 2020 LfL
Revenues	673,7	606,5	637,3	Rep FX	c FX	Rep FX	c FX
+11,1%	+11,8%	+5,7%	+6,4%
Adj. EBITDA	101,1	87,0	88,4	+16,3%		+14,5%
Adj. EBITDA %	15,0%	14,3%	13,9%
Adj. Net Income	41,2	26,1	25,3	+57,7%		+62,7%
Adj. Net Income %	6,1%	4,3%	3,9%
Net Debt	126,6	194,0	194,0
Net Debt/EBITDA	1,25x	2,23x	2,19x

€m	Q4 2021	Q4 2020		% vs 2020
Revenues	188,3	167,9	Rep FX		c FX
+12,2%	+10,4%
Adj. EBITDA
30,6	24,7	+24,0%
Adj. EBITDA %	16,4%	14,7%

5

YoY sales changes are based on both reported FX (Rep. FX) and constant FX (c. FX)