TBS GROUP: Clinical Engineering & ICT outsourced Services with e-health & e-government Integrated Solutions

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1 TBS GROUP: Clinical Engineering & ICT outsourced Services with e-health & e-government Integrated Solutions Diego Bravar, Chairman Marco Bosatra, Investor Relator Milan, April 15 th 2015

2 Medical Technology market in Europe The European medical technology market is estimated at rouglhy 100 Billion. Based upon manufacturer prices, the European medical technology market is estimated to comprise approximately 30% of the world market. It is the second largest medical technology market after US (~40%). The European medical technology market is growing around 4% per annum in the last 6 years. Based upon manufacturer prices, for TBS Group, Medical Technology Management Service s Market is estimated to cover over 5% of Medical Technology World Market. Source: MedTech Europe,

3 TBS Group: Clinical Engineering & ICT outsourced Services with e-health & e-government Integrated Solutions Source: MedTech Europe,

4 TBS Group: value proposition for customers throughclinical Engineering & ICT Services with e-health & e-government Integrated Solutions Reduction of costs for medical technology and ICT management Single medical technology and ICT technical reference point with multiple best practices Improved safety for patients healthcare and social organizations related to medical technology and ICT use Favourthe continuity of care treatment by extending medical technology and ICT services from hospitals to patient s homes increasing citizen s quality of life 4

5 TBS Group: competitive advantages Strong competences in healthcare and social processes and domain IT platform for the management of outsourcing services and for sharing medical technology and ICT know-how (more than 850,000 biomedical equipment, 145,000 ICT systems and solutions, 36,000 telecare and telemedicine systems for multivendor maintenance and a big data bank with more than medical technology models, manufacturers and medical technology coded classes) International network of over 1,650 clinical/it graduated engineers and biomedical & IT technicians and 200 telecare & telemedicine operators that develop the operations in more than over 300 in-hospital workshops and 20 specialist centers High market share in Clinical Engineering outsourcing services and few big international competitors Strong references and track record for bids Integrated Clinical Engineering and ICT outsourcing innovated services portfolio Presence in all major European countries, India, China and Latin America. Multivendor Service and Products provider to more than 1,000 hospitals / healthcare institutions and over 200 other public and private organizations 5

6 TBS Group: Revenues ( M) in the last 15 years 232,1 190,7 197,5 209,0 218,1 158,0 126,0 88,0 102,0 111,0 70,0 42,0 45,0 9,0 13,0 24, Clinical Engineering Services in Italy Expansion to Clinical Engineering Services integrated with telehealthcare and e-health products and services European expansion in clinical engineering integrated outsourcing services Global expansion in clinical engineering & ICT outsourcing services with e-health & e- Government solutions

7 TBS Group: leadership position & strong potential development for clinical engineering outsourced services in the EU Top 5 Position of TBS Group Potential Development Country TBS Group Position Market Share 1 36% 1 18% 1 33% 2 14% Already outsourced Potential market 996M 771M 675M 688M 307M 204M 166M 78M 60M 41M - 3% Overall 1 20% 26% 17% 12% 20% 6% Penetration Rate (%) Source: A.T. Kearney October 2009 (report commissioned by the Company, 2008 figures) Note: The potential market includes the Clinical Engineering services managed both in house, by original equipment manufacturers (OEM) and by outsourcers 7

8 Revenues FY M shows a growth of 6.4% compared to FY M. MED&ICT e-health&e-gov Total revenues Analysis of business line revenues for FY 2014 shows the following: MED & ICT Systems BU increased of 11.0M, from 188.3M infy2013to 199.3M infy2014(+5.8%). Integrated Solutions of e-health & e-government BU increased of 2.9M from 29.8M in FY 2013 to 32.7M in FY2014(+9.7%). Analysis of country revenues for FY 2014 shows the following: 14.5% 12.9% 13.6% 2,1% 3,6% 1,1% 2,4% 5,0% ITALY 85.5% 87.1% 86.4% 5,7% 11,5% UK FRANCE AUSTRIA SPAIN 68,7% GERMANY Other EU MED&ICT e-health&e-gov Other NO EU 8

9 EBITDA FY Mshowsagrowthof20.5%comparedtoFY M. MED&ICT e-health&e-gov Total EBITDA % 91.8% 8.0% 92.0% 11.2% 88.8% MED&ICT e-health&e-gov on Revenues 11.1% 9.2% 10.4% of which MED&ICT 11.9% 9.8% 10.7% e-health&e-gov 6.3% 5.4% 8.3% 9

10 EBIT and Net Result FY 2014 EBIT 13.6showsagrowthof119.4%comparedtoFY M. MED&ICT e-health&e-gov Total Ebit ,4 FY 2014 NET RESULT 2.3M shows a growth of 12.8M compared to FY 2013lossof 10.5M. 4,0 2,0 0,0 13,4 10,3 13,2-2,0-4,0-6,0-0,3-4,1-8,0-10,0 MED&ICT e-health&e-gov -12,0 on Revenues 6.3% 2.8% 5.9% of which on Revenues -0,7% -4,8% 1,0% MED&ICT 7.5% 5.5% 6.6% e-health&e-gov -1.0% -13.8% 1.2% 10

11 Operating Working Capital (OWC) OWC at 31/12/2014: 81.4Mshowsaslightincreaseof 3.2Mcomparedto31/12/2013 Inventories Accounts receivables Accounts payables Total OWC on Revenues 42.4% 35.9% 35.1% Total OWC Total revenues For a optimized management of the OWC, TBS Group Inventories Accounts receivables Accounts payables periodically carried out factoring operations which over the last years have been: 78.7Min Min M in

12 Capital Structure and NFD Capital Structure Capital Structure at 31/12/2014( M): Net Financial Debt breakdown at 31/12/2014 ( M): Group shareholders' Equity Net financial debt Net ST liab. Net LT liab. Net financial debt Leverage Net financial debt/ebitda

13 TBS Group: Corporate Governance From December 2013 the Board of Directors approved a new governance model for regulated market and aimed to optimize the organizational structure, increase the efficiency of decision-making and operational processes with the support of three specific Committees. Chairman Diego Bravar CEO Paolo Salotto BU MD & ICT Systems Italy Operations Fabio Faltoni BU MD & ICT Systems Foreign Operations Nicola Pangher Corporate Operations Paolo Salotto BU e-health & e-government Integrated Solutions Alberto Steindler Strategic Committee responsible for monitoring the implementation of strategies, the evolution of markets and the competitive position of TBS Group, and for proposing new strategies Internal Control Committee responsible for monitoring the internal control system and proposing updates to this system; collaborates with the Board of Auditors, Internal Auditor and Risk Manager Appointments, Compensation and Governance Committee responsible for giving opinions and makings proposals regarding appointments in the management bodies of the Group, the Group's remuneration policies for directors, managers and employees, in terms of topics related to corporate governance of the Group. 13

14 TBS Group: main shareholders and free float shareholders on AIM Stock Exchange Market (ISIN code IT ) Founders, Managers and financial Shareholders: Clinical Engineering & Information Technology S.p.A. High-profile financial shareholders Generali Group since 1999 Fondo Italiano di Investimento since 2012 Other shareholders <5% 490 shareholders at 31/12/2014 Governance and organizational practices of a public company already in place ready to join MTA market, as foreseen by the new rules (February 2015) on Free FloatfortheSMEs(<5%). 14

15 TBS Group: Shares Performance on AIM Stock Exchange Market from April 2014 to April 2015 Price: 1.80 per share(09/04/2015) 1 month performance: %, 6 months performance: +3.45%, 1 year performance: %(09/04/2015) 2.30 per share is the target price of Intermonte(specialist) research dated March 30th,

16 Clinical Engineering & ICT outsourced Services with e-health & e-government Integrated Solutions THANK YOU 16