First Half 2023 Group Results and Corporate Presentation
December 19, 2022
Agenda
Alessandro Fabbroni
Chief Executive Officer
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Business Model and Strategic Achievements
First Half Results as of October 31, 2022
Business Sectors Overview
Financial Annexes
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Business Model and Strategic Achievements
Leading digital partner for Enterprises and Organizations
- Leading digital partner for the business segment: technology, digital services and business applications
- Over 35,000 customers (o/w 4,000 abroad) and about Eu 2.8 Bn revenues expected in FY as of April 30, 2023
- Human resources and technological skills development (4,434 employees as of H1 2023, +19.4% Y/Y) as driver of organic growth
- Outstanding Long-TermTrack Record: 11Y 2011-22 CAGR revenues +11.2%, EBITDA +15.5%, EAT Adjusted +19.5%
Continuous growth embracing digitalization path
- Technology and skills developments on main digital trends: cloud, security, digital platform, vertical applications, sustainability
- Growth acceleration in the last 3Y: 2019-22 CAGR revenues +15.5%, EBITDA +31.2%, EAT Adjusted +37.6%
- Great performance in H1 2023: revenues +26.5% Y/Y1, EBITDA +27.5% Y/Y1, EAT Adjusted +23.5% Y/Y1
- Positive FY 2023 outlook: 195-205 Mn of Ebitda (+16-22% Y/Y, targeting high-end range) and about 20% revenues growth
Great capability to scout integrate Bolt- on M&As accelerating organic growth
- Small-midskilled intensive M&As as booster of organic and long-term growth
- 55 M&As in 2015-22period with additional 2,100 HRs and Eu 500 Mn annual revenues at acquisition time (Eu 800 Mn as of today)
- 15 M&As in 2021 Year (Eu 210 mn revenues, Ebitda margin 12%, with 500 new human resources)
- 18 M&As in 2022 Year (Eu 160 mn revenues, Ebitda margin 15%, with 550 new human resources)
Commitment to long-term sustainable growth
- Industrial business model focused on vertical digital skills development and long-term value generation
- Steady cash flow generation: Avg 80% Ebitda Cash Conversion, with Eu 150 Mn Operating Cash Flow LTM
- Long-termcommitment of Group key people, involved in Sesa share capital through the holding company ITH SpA and long-term incentives plan
(1) Change of revenues and profitability in the 6M period as October 31, 2022, compared to H1 2022 (6M period as of October 31, 2021)
3
Scalable matrix organization focusing on vertical digital skills
Group Governance
Italian leading player in technological
innovation and digital services, with revenues
for Eu 2.39 Bn in FY 2022
140
Group Governance, Human Resources, Finance and Control, Compliance, ICT, Operations, M&A and Sustainability Programs
Technology Solutions, Digital Services
and Business Applications for
Enterprises and Organizations with
about 4,200 employees
SSI Sector | Business Services Sector | VAD Sector |
Revenues | Ebitda Margin | Revenues | Ebitda Margin | Revenues | Ebitda Margin | ||||
2,850 | Eu 572 Mn | ∼ 12% | 550 | Eu 59 Mn | ∼ 10% | 630 | Eu 1.86 Bn | ∼ 5% | |
Strategic Business Units | Strategic Business Units | ||||||||
Strategic Business Units | |||||||||
Cloud Technology | ERP & Vertical | Base Digitale | Base Digitale | Cloud, Security | Datacenter | ||||
Services and | Data Science | Process Management | Experience | ||||||
Solutions | Software Solution | Solutions | |||||||
Security Solutions | BDM | BDX | |||||||
Customer & | Digital Engineering | Base Digitale | Base Digitale | Device & Digital | Networking & | ||||
Digital Workspace | Business | Platform | Security | Digital Green | |||||
Digital Industries | Workplace | Collaboration | |||||||
Experience | BDP | BDS | |||||||
Software and System Integration («SSI») | Business Services («Base Digitale Group») | Value Added Distribution («VAD») | |||||||
Software andSystem integration solutions for Italian and | Business Process Services and technological solutions for the | Value-added distribution ("VAD") solutions, with over 20,000 | |||||||
European SMEs and Enterprises with over 12,500 customers, | Financial Services Industry, through the controlled company | business partners, through the fully owned company | |||||||
through the fully owned company Var Group S.p.A. | (86% stake) Base Digitale Group S.p.A. | Computer Gross S.p.A. |
Matrix and Industrial Organization focusing on vertical business units and long-term value generation
Revenues and Human Resources as of April 30, 2022
4
Human capital skills development programs
5700
CAGR 2011-2022∼ 16% (+21% in FY 2022)
2,806
Technological Skills on main digital trends 4,434 employees as of October 31, 2022
5200
4700
3700
HR development programs: 20% HR annual growth over last 3Y period, thanks to continuous improvement of Group hiring and the integration of bolt-on M&As (55 M&As in the last 5Y period with 2,100 additional skilled resources)
Hiring programs: 607 new hires in Full Year 2022 (of which 50% under 30)
Training: ∼ 61,000 hours of education in the Fiscal Year 2022 (+132% Y/Y) focusing on Security, Compliance and Soft Skills
1,776
Welfare: extensive welfare programs, to improve well-being,work-life balance and retention of Group Human Resources
2,390
4,200
2,037
3,441
5,000
1,375 | 650 | 550 | 300 |
ERP & Vertical Software | Digital Security | Digital Platform, Vertical | Digital Engineering for |
Application, Business | |||
Solutions for Enterprise | Services | European manufacturing | |
Services for Financial | |||
and solutions | districts | ||
Services | |||
3200
2700
Revenues Eu Mn
1,551
2,547
1,363
2200
1700
1200
1,271 | ||||
HRs (at Year-end) | 1,230 | |||
1,900 | ||||
1,060 | ||||
948 | ||||
1,642 | ||||
812 | 832 | 1,427 | ||
747 | 1,215 | |||
1,150 | ||||
665 | 974 | |||
912 | ||||
818 | 863 | |||
777 | ||||
775 | 350 | 334 | 100 |
Digital Cloud & Managed | Customer Experience & | Digital Workspace & | A.I. & Data Science |
Infrastructure Services | Digital Marketing | Collaboration |
350 abroad (o/w 200 in DACH region)
700
2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023E |
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SeSa S.p.A. published this content on 19 December 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 December 2022 15:14:04 UTC.