GPI S p A (GPI) Investor Presentation summary

Business overview and strategy

• Delivers digital healthcare solutions with a focus on sustainability and cost reduction, operating through strategic business areas (SBAs) tailored to healthcare complexity.

• Software SBA achieved a 23.4% CAGR from 2021–2024, driven equally by organic and inorganic growth.

• Care SBA (BPO services) provides access to 30 million Italians and supports market access and customer engagement.

• Strategic plan 2025–2029 focuses on consolidating software leadership, leveraging acquisitions, expanding internationally, and diversifying into telemedicine, cyberdefence, and automation.

• Targets for 2029 include revenue over €700m (27–30% international), EBITDA margin above 25%, and NFP/EBITDA below 2.5x.

Financial performance

• FY2024 revenue reached €509.9m (+17.7%), with software contributing €304.1m (+33.7%).

• EBITDA rose to €104.8m (+31.3%), with a margin of 20.6% (+220bps YoY); EBIT increased to €36.7m (+43.4%).

• Net income from continuing operations was €14.6m, and total net income was €103.4m.

• Net financial indebtedness decreased by €32.2m to €332.7m, supported by strong cash generation and reduced financial expenses.

• Approved ordinary dividend of €0.50 per share for FY2024.

Market position and growth

• Market leader in Italian healthcare software and BPO, with growing international presence; 33% of software revenue is international.

• Offices in 18 countries, serving over 70 countries globally.

• Software segment shows high retention (96%) and win ratio (44%), with 79% public and 21% private customers.

• Major product lines include Hospital Information Systems, Blood management, Diagnostics, Telemedicine, and Critical Care.

• Success in all major Italian public health digitization tenders, often ranking first.