COMPANY PRESENTATION
CONFERENCE CALL
FY 2023 Financial results
March 15th, 2024
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.
2
Income Statement - FY 2023
Euro '000 | 31/12/22 | % | 31/12/23 | % | Var. % |
unaudited | |||||
Medical | 382.063 | 56,7% | 392.434 | 56,7% | 2,7% |
Industrial | 291.518 | 43,3% | 299.856 | 43,3% | 2,9% |
Revenues | 673.581 | 100,0% | 692.290 | 100,0% | 2,8% |
Gross margin | 249.695 | 37,1% | 261.430 | 37,8% | 4,7% |
Operating Expenses | 56.250 | 8,4% | 59.436 | 8,6% | 5,7% |
Staff espenses | 98.194 | 14,6% | 111.129 | 16,1% | 13,2% |
EBITDA | 95.251 | 14,1% | 90.866 | 13,1% | -4,6% |
Depr., amort., accruals | 14.250 | 2,1% | 18.130 | 2,6% | 27,2% |
EBIT | 81.001 | 12,0% | 72.736 | 10,5% | -10,2% |
Net financ.income(charges) | (1.934) | -0,3% | (1.533) | -0,2% | -20,7% |
Other income (expense) net | (79) | 0,0% | (69) | 0,0% | -12,9% |
EBT | 78.988 | 11,7% | 71.134 | 10,3% | -9,9% |
Income taxes | 19.953 | 3,0% | 21.068 | 3,0% | 5,6% |
Minorities | 3.925 | 0,6% | 1.827 | 0,3% | -53,4% |
NET INCOME | 55.111 | 8,2% | 48.239 | 7,0% | -12,5% |
3
Income Statement - Q4 2023
Euro '000 | Q4-2022 | % | Q4-2023 | % | Var. % |
unaudited | unaudited | ||||
Revenues | 189.232 | 100,0% | 199.278 | 100,0% | 5,3% |
Gross margin | 70.199 | 37,1% | 74.219 | 37,2% | 5,7% |
Operating Expenses | 14.739 | 7,8% | 15.043 | 7,5% | 2,1% |
Staff espenses | 27.773 | 14,7% | 30.191 | 15,2% | 8,7% |
EBITDA | 27.687 | 14,6% | 28.985 | 14,5% | 4,7% |
Depr., amort., accruals | 4.610 | 2,4% | 8.028 | 4,0% | 74,1% |
EBIT | 23.077 | 12,2% | 20.958 | 10,5% | -9,2% |
Net financ.income(charges) | (1.927) | -1,0% | (667) | -0,3% | -65,4% |
Other income (expense) net | (81) | 0,0% | (26) | 0,0% | -67,4% |
EBT | 21.069 | 11,1% | 20.264 | 10,2% | -3,8% |
4
Balance sheet - 2023
Euro '000 | 31/12/22 | 31/12/23 | Var.% |
restated | unaudited | ||
Total non current assets | 165.786 | 166.200 | 0,2% |
Net Working Capital | 200.536 | 230.449 | 14,9% |
Other receivables/payables ST | (80.154) | (54.244) | -32,3% |
Net financial position | 75.363 | 54.586 | -27,6% |
Long term liabilities | 18.077 | 21.533 | 19,1% |
Net Equity | 343.455 | 375.458 | 9,3% |
Net capital employed | 268.092 | 320.872 | 19,7% |
Net Working Capital on sales | 29,8% | 33,3% |
ROCE | 30,2% | 22,7% |
(EBIT/Net capital employed) | ||
Operating Capex | 28.514 | 13.546 |
5
Cash Flow
34 mln
25 mln
13 mln
19 mln
6
Revenue breakdown by business
Medical: +3% | -5% | 2022 | |
2023
238,8 | 226,0 | +25% | +10% | |||||
+1% | ||||||||
77,2 | 15,9 | 63,9 | 70,1 | |||||
61,9 | 15,7 | |||||||
Aesthetic | Surgical | Physioth. | Service |
+0%
2022
in Euro million
2023
243,8 | 242,6 | |||||||
+22% | +15% | |||||||
Industrial: +3% | ||||||||
25,4 | 31,1 | +33% | 20,4 | |||||
3,9 | 5,2 | 17,7 | ||||||
Cutting | Marking | Laser sources | Service | 7 | ||||
Revenue breakdown by area
+3%
Medical | 2022 | |
in Euro million
2023
+4%
-2%
230,5 237,2
113,2 117,7
38,4 37,5
Italy | RoEU | RoW |
-1%
Industrial +2% 2022
2023
+25%
148,4 146,3
111,6 114,2
31,5 39,3
Italy | RoEU | RoW | 8 |
2024 Guidance
Revenue 2024 > Revenue 2023
EBIT 2024 > EBIT 2023
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CONTACTS
El.En. S.P.A.
Enrico Romagnoli
Investor Relations Manager
tel. +39 055-8826807E-mail:finance@elen.it
POLYTEMS HIR
Financial Communication, IR and Press Office
Bianca Fersini Mastelloni - b.fersini@polytemshir.it
Silvia Marongiu - s.marongiu@polytemshir.it
Tel. +39 06-69923324
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El.En. S.p.A. published this content on 15 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 March 2024 12:09:10 UTC.