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CLICK TO ADD TITLE CLICK TO ADD TITLE SUBTITLE GOES HERE Table of Contents Financial Health Solvency and Coverage Liquidity Profitability Investment Opportunity Lorem ipsum dolor sit amet, consectetur adipiscing elit phasellus auctor efficitur. Lorem ipsum dolor sit amet, consectetur adipiscing elit phasellus auctor efficitur. NTD: Replace pic Financial Health [NTD: check comps and credit rating] 1 Solvency and Coverage Click to add title here Cash on the balance sheet of 200M, an increase of []% from []M end of 2019 . Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus auctor efficitur dui et facilisis. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Etiam molestie in quam ac viverra. Debt to Equity consistently improving since 2016 Debt20202019201820172016393443378498386965366079369915Equiy2020201920182017201629054626008820927713471087640 Positive working capital indicates the company has sufficient current assets to meet its current obligations. Working capital improvement of []% from 2019. With a current ratio of [] and quick ratio of [] [NTD: compare to industry standard] Collecting accounts receivable faster than paying vendors by [] days in 2020 and [] days in 2019. AR turned over in [] days in 2020 compared to [] days in 2019. This compares to AP turning over in [] days in 2020 and [] days in 2019. Liquidity [] Working Capital [] Working Capital Current Ratio 2020 – [] +[]% 2020 – [] + []% Quick Ratio 2019 – [] 2019 – [] Current assets 20202019384505341095Current liabilities[SERIES NAME] 20202019245141268856 Profitability The Company has generated positive earnings and operating cash flow for both 2020 and 2019. However, there was a decline in earnings and cash flow in 2020 vis-à-vis 2019 due to []. Margins show a slight decline in 2020 but still relatively consistent with prior years. The Company has been paying dividends for [] [] EPS 2019 – [] [] EBITDA per Shares 2019 = [] Gross Margin 2019 – []% [] Return on Assets 2019 – [] [] Return on Equity 2019 – [] [] Return on Capital Employed 2019 – [] [] Operating Profit Margin 2019 – []% EBITDA2020201989484139466 Net Operating cash flow20202019102408135752 Investment Opportunity 2 One Column Layout Click to add title here Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus auctor efficitur dui et facilisis. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Etiam molestie in quam ac viverra. Cras consequat gravida aliquam. Maecenas cursus eleifend risus, in vulputate velit imperdiet non.Etiam molestie in quam ac viverra. Click to Add Picture Title Here Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus auctor efficitur duiet facilisis. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus auctor efficitur duiet facilisis. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus auctor efficitur duiet facilisis. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus auctor efficitur duiet facilisis. Click to Add Icon Slide Title Here SUBTITLE GOES HERE Lorem ipsum dolor sit amet, consectetur adipiscing elit. Phasellus auctor efficitur dui et facilisis. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Etiam molestie in quam ac viverra. Cras consequat gravida aliquam. Maecenas cursus eleifend risus, in vulputate velit imperdiet non. Aenean tincidunt euismod ultricies. Fusce tempor dui ipsum, nec ultricies ante eleifend vel curabitur. Click to Add Team Slide Title Here Lorem ipsum dolor sit amet, consectetur adipiscing elit. ADD NAME Lorem ipsum dolor sit amet, consectetur adipiscing elit. ADD NAME Lorem ipsum dolor sit amet, consectetur adipiscing elit. ADD NAME Lorem ipsum dolor sit amet, consectetur adipiscing elit. ADD NAME Photo Collage Assignment Reqts Max 5 slide powerpoint excluding title page, table of contents and appendices. Unlimited appendices. 1. Evaluate Technogym financial statement in 2019 and 2020, and comment on the state of health of the company in the analyzed years; (est. 2-3 slides) 2. Identify a new investment opportunity for Technogym. The investment should be consistent with the vision and the strategy of the company. 3. Once the investment opportunity is identified, evaluate the project by structuring a three-year plan (2022 – 2024). (est. 1-2 slides) The last appendix must be sources DO NOT DELETE ANY TABS FROM THIS FILE Assignment Content & Layout Layout:Content: Slide # 1Title pagePart 1: Financial Health - Assess the viability and sustainability of Technogym 2Table of Contentsmax: 5 slides3 parts: Risk 3Section subtitle: Financial Health- assess operative risk (change in EBIT/change in revenues) 4Financial Health Slide- assess capital structure 5Financial Health Slide- assess financial risk 6Financial Health Slide if neededInclude the following: 7Section subtitle: Capital Budgeting / Acquisition- Ratio analysis and comparison to comps including Liqiditity, Leverage/Solvency, Coverage, Profitability 8Capital Budgeting / Acquisition slide- Overall health and trajectory of th industry in which it operates (1-2 sentences) 9Capital Budgeting / Acquisition slide- Mkt Value / Book Value - > or <1 - assess future expectations 10capital budgeting / acquisition slide if needed- have a conclusion 11section subtitle: appendices other comments or to do's: minimum required appendices but can add more:- check whats happened in 2020 - why earnings down and how this impacts the trajectory going forward. 1ratio page showing ratios for technogym and with industry or comp data- technogym seems to underlevered but not sure how this compares to industry 2financial stmts for technogym- what is their debt situation ( will need to look at the financial stmt notes to see what debt they have exactly) 3comp listing - check mkt cap vs book value 4analyst coverage- check if any concentration of risk 5technogym capital structure slide- what is the financial trajectory of the company 6technogym strategy slide and history- get analyst predictions 7capital budgeting: opportunity - who, what and why- quality of customers 8capital budgeting 3 year cash flow slide- regional diversification or concentration 9capital budgeting - investment opportunity assumptions 10capital budgeting metrics - npv, payback, etcnote: current assets exclude cash fo finance purposes 11proforma financials 12wacc calcpart 2: capital budget 13sensitivities - less revenue, increase in costs 14sources- calculate 3 year cash flows based on assumptions in capital budgeting tab - calculate wacc - need npv, irr and payback calculated - conclusion on whether should pursue or not pursue investment opportunity and why - assume hurdle rate of 20% - need sensitivity to revenues and costs other comments or to do's: - comment on externalities - assume project will not have an impact on other revenue streams (no erosion of other revenue streams) - nominal vs real dollars and discount rate - consistency is needed about technogym foundedemployeesceowebsite 19832,067nerio alessandrihttps://www.technogym.com investor hub: https://corporate.technogym.com/ technogym s.p.a., a wellness company, designs, manufactures, and sells fitness equipment worldwide. the company offers a range of wellness, physical exercise, and rehabilitation solutions. its products include treadmills, exercise bikes, elliptical cross trainers, rowers, stair climbers, upper body trainers, selectorized equipment, plate loaded equipment, multigyms and cable stations, benches and racks, free weights, functional training equipment, and stretching equipment; and exercise tools, such as exercise mat, floor mat, set loop band resistance, elastic bands, power band resistance, jump rope, foam roller, wellness ball, balance pad, balance dome, slam ball, and medicine ball, as well as personal line products. the company markets its products to fitness and wellness clubs; hospitality and residential; health, corporate, and performance; and home and consumer segments through field and inside sales, retail, and wholesale channels. technogym s.p.a. was founded in 1983 and is based in cesena, italy. technogym s.p.a. was formerly a subsidiary of wellness holding srl. technogym is recognised the world over as “the wellness company”. our vision is to be a world leader as a wellness solution provider. mission our mission is to help people live a better life through wellness. wellness is the lifestyle defined and promoted by technogym aimed at improving people’s quality of life though regular physical exercise, healthy nutrition and positive mental approach. wellness means: energy and vitality efficiency in any situation feeling at ease with ourselves and others all our efforts are focused on finding high quality, innovative and engaging solutions to helping people achieve wellness. vision our vision is to be a world leader as a wellness solution provider. our business approach is to be the operator business partner thanks to our total wellness solution made of products, services and software and to provide end users with an engaging wellness experience. strategy “wellness on the go” is our strategy. wellness on the go means being able to provide end user with a personalized wellness experience everywhere, everyday thanks to “technogym ecosystem”, in which wellness products and services are available to people whenever they want and wherever they are. within this ecosystem: each person can find and access information and training programs on any machine, in any worldwide location and from any personal device (mobile, tablet, smart tv, pc, mywellness key) – becoming part of a global community of people dedicated to wellness professional operators can manage, engage and guide their customers at any time and everywhere, creating new opportunities to enhance customer attraction and loyalty. acquisitions and initiatives apr-16 partnership to complete the connected wellness experience technogym, one of the leading companies in the international fitness and wellness market, today announced to have entered into a share purchase agreement for the acquisition of a majority stake in exerp, a global digital specialist in fitness club member engagement software, based in denmark. the partnership between technogym and exerp strengthen the digital ecosystem and increases the company capability to offer fitness operators a complete solution to improve the end user experience. the integration between technogym’s mywellness cloud – the wellness lifestyle crm – and the exerp platform – one of the best fitness club erp – completes the world’s first and only lifestyle management “open platform”, thanks to the integration of proprietary and third party apps, the most popular wearable devices and biometric tracking devices. the deal with exerp fosters technogym capability to ensure industry operators the possibility to define new business models to provide end users with new services, not only indoor, but also outdoor through an easy, engaging and seamless interface. exerp has developed a vast knowledge of the business requirements that underlie the operations of some of the world’s largest and most recognised fitness chains. the exerp platform aim is to transform operator’s businesses by reducing cost, promoting simplicity and fundamentally changing the way they interact with their members. “this deal confirms the technogym commitment to digital innovation in the industry and strengthen our strategic approach toward solution selling to offer operators the opportunity to generate better profits and to enable end users to get better results in terms of fitness, sport and health” said nerio alessandri, founder and ceo of technogym and added “moreover, the technogym ecosystem allows fitness clubs to shape new business models by connecting with insurances, corporate and -="" assess="" future="" expectations="" 10="" capital="" budgeting="" acquisition="" slide="" if="" needed="" -="" have="" a="" conclusion="" 11="" section="" subtitle:="" appendices="" other="" comments="" or="" to="" do's:="" minimum="" required="" appendices="" but="" can="" add="" more:="" -="" check="" whats="" happened="" in="" 2020="" -="" why="" earnings="" down="" and="" how="" this="" impacts="" the="" trajectory="" going="" forward.="" 1="" ratio="" page="" showing="" ratios="" for="" technogym="" and="" with="" industry="" or="" comp="" data="" -="" technogym="" seems="" to="" underlevered="" but="" not="" sure="" how="" this="" compares="" to="" industry="" 2="" financial="" stmts="" for="" technogym="" -="" what="" is="" their="" debt="" situation="" (="" will="" need="" to="" look="" at="" the="" financial="" stmt="" notes="" to="" see="" what="" debt="" they="" have="" exactly)="" 3="" comp="" listing="" -="" check="" mkt="" cap="" vs="" book="" value="" 4="" analyst="" coverage="" -="" check="" if="" any="" concentration="" of="" risk="" 5="" technogym="" capital="" structure="" slide="" -="" what="" is="" the="" financial="" trajectory="" of="" the="" company="" 6="" technogym="" strategy="" slide="" and="" history="" -="" get="" analyst="" predictions="" 7="" capital="" budgeting:="" opportunity="" -="" who,="" what="" and="" why="" -="" quality="" of="" customers="" 8="" capital="" budgeting="" 3="" year="" cash="" flow="" slide="" -="" regional="" diversification="" or="" concentration="" 9="" capital="" budgeting="" -="" investment="" opportunity="" assumptions="" 10="" capital="" budgeting="" metrics="" -="" npv,="" payback,="" etc="" note:="" current="" assets="" exclude="" cash="" fo="" finance="" purposes="" 11="" proforma="" financials="" 12="" wacc="" calc="" part="" 2:="" capital="" budget="" 13="" sensitivities="" -="" less="" revenue,="" increase="" in="" costs="" 14="" sources="" -="" calculate="" 3="" year="" cash="" flows="" based="" on="" assumptions="" in="" capital="" budgeting="" tab="" -="" calculate="" wacc="" -="" need="" npv,="" irr="" and="" payback="" calculated="" -="" conclusion="" on="" whether="" should="" pursue="" or="" not="" pursue="" investment="" opportunity="" and="" why="" -="" assume="" hurdle="" rate="" of="" 20%="" -="" need="" sensitivity="" to="" revenues="" and="" costs="" other="" comments="" or="" to="" do's:="" -="" comment="" on="" externalities="" -="" assume="" project="" will="" not="" have="" an="" impact="" on="" other="" revenue="" streams="" (no="" erosion="" of="" other="" revenue="" streams)="" -="" nominal="" vs="" real="" dollars="" and="" discount="" rate="" -="" consistency="" is="" needed="" about="" technogym="" founded="" employees="" ceo="" website="" 1983="" 2,067="" nerio="" alessandri="" https://www.technogym.com="" investor="" hub:="" https://corporate.technogym.com/="" technogym="" s.p.a.,="" a="" wellness="" company,="" designs,="" manufactures,="" and="" sells="" fitness="" equipment="" worldwide.="" the="" company="" offers="" a="" range="" of="" wellness,="" physical="" exercise,="" and="" rehabilitation="" solutions.="" its="" products="" include="" treadmills,="" exercise="" bikes,="" elliptical="" cross="" trainers,="" rowers,="" stair="" climbers,="" upper="" body="" trainers,="" selectorized="" equipment,="" plate="" loaded="" equipment,="" multigyms="" and="" cable="" stations,="" benches="" and="" racks,="" free="" weights,="" functional="" training="" equipment,="" and="" stretching="" equipment;="" and="" exercise="" tools,="" such="" as="" exercise="" mat,="" floor="" mat,="" set="" loop="" band="" resistance,="" elastic="" bands,="" power="" band="" resistance,="" jump="" rope,="" foam="" roller,="" wellness="" ball,="" balance="" pad,="" balance="" dome,="" slam="" ball,="" and="" medicine="" ball,="" as="" well="" as="" personal="" line="" products.="" the="" company="" markets="" its="" products="" to="" fitness="" and="" wellness="" clubs;="" hospitality="" and="" residential;="" health,="" corporate,="" and="" performance;="" and="" home="" and="" consumer="" segments="" through="" field="" and="" inside="" sales,="" retail,="" and="" wholesale="" channels.="" technogym="" s.p.a.="" was="" founded="" in="" 1983="" and="" is="" based="" in="" cesena,="" italy.="" technogym="" s.p.a.="" was="" formerly="" a="" subsidiary="" of="" wellness="" holding="" srl.="" technogym="" is="" recognised="" the="" world="" over="" as="" “the="" wellness="" company”.="" our="" vision="" is="" to="" be="" a="" world="" leader="" as="" a="" wellness="" solution="" provider.="" mission="" our="" mission="" is="" to="" help="" people="" live="" a="" better="" life="" through="" wellness.="" wellness="" is="" the="" lifestyle="" defined="" and="" promoted="" by="" technogym="" aimed="" at="" improving="" people’s="" quality="" of="" life="" though="" regular="" physical="" exercise,="" healthy="" nutrition="" and="" positive="" mental="" approach.="" wellness="" means:="" energy="" and="" vitality="" efficiency="" in="" any="" situation="" feeling="" at="" ease="" with="" ourselves="" and="" others="" all="" our="" efforts="" are="" focused="" on="" finding="" high="" quality,="" innovative="" and="" engaging="" solutions="" to="" helping="" people="" achieve="" wellness.="" vision="" our="" vision="" is="" to="" be="" a="" world="" leader="" as="" a="" wellness="" solution="" provider.="" our="" business="" approach="" is="" to="" be="" the="" operator="" business="" partner="" thanks="" to="" our="" total="" wellness="" solution="" made="" of="" products,="" services="" and="" software="" and="" to="" provide="" end="" users="" with="" an="" engaging="" wellness="" experience.="" strategy="" “wellness="" on="" the="" go”="" is="" our="" strategy.="" wellness="" on="" the="" go="" means="" being="" able="" to="" provide="" end="" user="" with="" a="" personalized="" wellness="" experience="" everywhere,="" everyday="" thanks="" to="" “technogym="" ecosystem”,="" in="" which="" wellness="" products="" and="" services="" are="" available="" to="" people="" whenever="" they="" want="" and="" wherever="" they="" are.="" within="" this="" ecosystem:="" each="" person="" can="" find="" and="" access="" information="" and="" training="" programs="" on="" any="" machine,="" in="" any="" worldwide="" location="" and="" from="" any="" personal="" device="" (mobile,="" tablet,="" smart="" tv,="" pc,="" mywellness="" key)="" –="" becoming="" part="" of="" a="" global="" community="" of="" people="" dedicated="" to="" wellness="" professional="" operators="" can="" manage,="" engage="" and="" guide="" their="" customers="" at="" any="" time="" and="" everywhere,="" creating="" new="" opportunities="" to="" enhance="" customer="" attraction="" and="" loyalty.="" acquisitions="" and="" initiatives="" apr-16="" partnership="" to="" complete="" the="" connected="" wellness="" experience="" technogym,="" one="" of="" the="" leading="" companies="" in="" the="" international="" fitness="" and="" wellness="" market,="" today="" announced="" to="" have="" entered="" into="" a="" share="" purchase="" agreement="" for="" the="" acquisition="" of="" a="" majority="" stake="" in exerp,="" a="" global="" digital="" specialist="" in="" fitness="" club="" member="" engagement="" software,="" based="" in="" denmark.="" the="" partnership="" between="" technogym="" and="" exerp="" strengthen="" the="" digital="" ecosystem="" and="" increases="" the="" company="" capability="" to="" offer="" fitness="" operators="" a="" complete="" solution="" to="" improve="" the="" end="" user="" experience.="" the="" integration="" between="" technogym’s="" mywellness="" cloud="" –="" the="" wellness="" lifestyle="" crm="" –="" and="" the="" exerp="" platform="" –="" one="" of="" the="" best="" fitness="" club="" erp="" –="" completes="" the="" world’s="" first="" and="" only="" lifestyle="" management="" “open="" platform”,="" thanks="" to="" the="" integration="" of="" proprietary="" and="" third="" party="" apps,="" the="" most="" popular="" wearable="" devices="" and="" biometric="" tracking="" devices.="" the="" deal="" with exerp fosters technogym capability="" to="" ensure="" industry="" operators="" the="" possibility="" to="" define="" new="" business="" models="" to="" provide="" end="" users="" with="" new="" services,="" not="" only="" indoor,="" but="" also="" outdoor="" through="" an="" easy,="" engaging="" and="" seamless="" interface.="" exerp="" has="" developed="" a="" vast="" knowledge of="" the="" business="" requirements that="" underlie="" the="" operations="" of="" some="" of="" the="" world’s="" largest="" and="" most="" recognised="" fitness="" chains. the="" exerp="" platform="" aim="" is="" to="" transform="" operator’s="" businesses="" by="" reducing="" cost,="" promoting="" simplicity="" and="" fundamentally="" changing="" the="" way="" they="" interact="" with="" their="" members.="" “this="" deal="" confirms="" the="" technogym="" commitment="" to="" digital="" innovation="" in="" the="" industry="" and="" strengthen="" our="" strategic="" approach="" toward="" solution="" selling="" to="" offer="" operators="" the="" opportunity="" to="" generate="" better="" profits="" and="" to="" enable="" end="" users="" to="" get="" better="" results="" in="" terms="" of="" fitness,="" sport="" and="" health” said="" nerio="" alessandri,="" founder="" and="" ceo="" of="" technogym="" and="" added="" “moreover,="" the="" technogym="" ecosystem="" allows="" fitness="" clubs="" to="" shape="" new="" business="" models="" by="" connecting="" with="" insurances,="" corporate="">