GPI S p A (GPI) Investor Presentation summary

Market context and strategic positioning

• Healthcare sector is pivotal for economic stability, social equity, and innovation, with health expenditure at 9.1% of GDP in OECD countries in 2022.

• Demand for care is rising due to demographic shifts, chronic diseases, technology advances, and policy changes, driving the need for sustainable, efficient health systems.

• Digital health solutions, including automation, AI, and telemedicine, address workforce shortages and process complexity, improving patient journeys and resource optimization.

• Focus on innovation areas such as population health management, digital therapeutics, and augmented telemedicine aligns with evolving market trends.

• Strong competitive positioning in Italy with a potential reach of 29 million citizens and a top-five market share in a €1.35B addressable market.

Financial performance and business areas

• FY23 revenue reached €433.4M (+24.9%), with 11.4% organic growth; pro forma revenue including acquisitions was €463.1M.

• EBITDA for FY23 was €79.8M (+64.3%), with a margin of 19.5% on adjusted revenue; pro forma EBITDA was €90.2M.

• Software segment led growth, contributing €227.4M in revenue (+61.8%) and €67.2M in EBITDA (29.6% margin); Care and Automation segments also performed well.

• Net profit for FY23 was €6.8M, with a proposed dividend of €0.50 per share.

• Significant M&A activity in 2023, with ~€173M invested, including the acquisition of Evolucare and Tesi.

International expansion and market trends

• International revenue share increased to 23% pro forma in 2023, with strong growth in automation and software exports.

• Presence in 70 countries with 9,000 customers and 17 international locations.

• Software and IT services markets show double-digit CAGR (2021-2027), with Italy at 12.3% and DACH at 14.3%.

• Consolidated leadership in Italy through national tenders, ranking first or second in major Consip contracts worth €3.3B.