Slide 1: The Future Is Now: 2022 Results and Roadmap to 2025
THE FUTURE IS NOW 2022 Results and Roadmap to 2025 March 16, 2023
Slide 2: Agenda
Agenda 1 THE FUTURE IS NOW 2 FY 2022 RESULTS HOW WE SHAPED 3 OUR BUSINESS A GLOBAL LEADER 4 IN A PROMISING SECTOR ROADMAP TO 2025: STRATEGIC 5 PILLARS & FINANCIAL TARGETS
Slide 3: 1 The Future Is Now
Agenda 1 THE FUTURE IS NOW PIETRO SALINI CHIEF EXECUTIVE OFFICER 3
Slide 4: Ambitious achievement: a global champion focused on developed markets
Ambitious achievement: a global champion focused on developed markets Gained scale, meaningfully 83,000 people daily teaming up in over 50 countries 3.5X People 83,000 Revenues Nationalities €bn 8.2 +100 11,400 2.3 2012(1) 2022 2012(1) 2022 in 2022 Record high-quality backlog De-risking: greater exp
Slide 5: 2 FY 2022 Results
Agenda 2 FY 2022 RESULTS MASSIMO FERRARI GENERAL MANAGER CORPORATE AND FINANCE 5
Slide 6: Over €16bn of new orders acquired in 2022, doubling guidance
Over €16bn of new orders acquired in 2022, doubling guidance Record two-year period 2022-YTD Order Intake: >80% in low risk countries(1) with over €27 billion in new orders Europe NORWAY ROMANIA SWITZERLAND Total per • Sotra Connection PPP Project • Sibiu Pitesti Highway • Hyperscale €bn geographic
Slide 7: Strong growth of operating results, exceeding expectations
Strong growth of operating results, exceeding expectations Revenues 2022 EBITDA 2022 EBIT GUIDANCE GUIDANCE €m €m €m 7.0-7.5bn 7.0-7.5% +27% +63% 7.0% +22% 3.9% 6.7% 572 3.0% 321 8,163 EBITDA margin 4.8% 451 6,691 198 4,766 231 EBIT margin 0.6% 30 2020(1) 2021(1) 2022(1) 2020(1) 2021(1) 2022(1) 2020
Slide 8: Significant improvement of Adjusted Net Income at €118m
Significant improvement of Adjusted Net Income at €118m (€m) 2021(1) 2022(1) Var EBIT 198 321 124 1 Financial expenses (€m) 2021(1) 2022(1) Var Financial income 88 119 32 Bank charges, commissions and guarantees (54) (62) (8) Financial expenses (190) (213) 1 (22) Bond charges (69) (80) (11) Net exch
Slide 9: Strong balance sheet with net cash position
Strong balance sheet with net cash position Solid Net Cash Position Gross Debt reduced Solid Operating with negative maintained despite growth by €35m versus 2021 Net Equity Working Capital €m €m €m €m 2022 GUIDANCE Net Cash 467 +75m 441 3,560 2,071 265 1,935 1,860 2,655 2,619 (576) -35m (442) (805)
Slide 10: 86% of debt at fixed rate with limited maturities until late 2024
86% of debt at fixed rate with limited maturities until late 2024 Key Facts M/L Corporate Debt Maturities Bank Bond €400m 750 Average Cost of Debt 4.2% new “sustainability linked” 500 bond in Jan. 2022 400 250 Duration >85% 71 122 105 (years) ca. 3 corporate debt 2023 2024 2025 2026 2027 at fixed ra
Slide 11: 3 How We Shaped Our Business
Agenda 3 HOW WE SHAPED OUR BUSINESS PIETRO SALINI CHIEF EXECUTIVE OFFICER 11
Slide 12: We have delivered strategic projects that contribute to prosperity
We have delivered stategic projects that contribute to prosperity, improving hundreds of millions people’s lives Italy North America Australia Europe Genoa Long Beach Forrestfield Cityringen San Giorgio Bridge International Gateway Airport Link Metro €0.2bn - 2020 €1.0bn - 2020 €1.0bn - 2022 €2.5bn
Slide 13: A well recognized and more competitive player in developed markets
We have become a well recognized and more competitive player in developed markets GLOBAL AMONG TOP AMONG TOP 10 TOP 10 EUROPEAN LEADER 10 PLAYERS INTERNATIONAL PLAYER(2) IN WATER IN HIGHWAYS PLAYER IN US SECTOR(1) & RAILS(1) & AUSTRALIA(2) 1ST ITALIAN CONTRACTOR(3) Order backlog at record highs, cre
Slide 14: Investing in innovative solutions for project efficiency and safety
We are investing in innovative solutions for project efficiency and safety setting higher standards for the sector €148m ca. 340 >110 Investments in innovation Average annual employees involved Developed innovative 2017-2022 in innovation and R&D activities solutions 2017-2022 Innovative solutions f
Slide 15: Our remarkable achievements are thanks to our people
Our remarkable achievements are thanks to our people: our greatest asset Workforce increased by 70,000 Diversity and Inclusion 83.0k 44% +100 11.4k 2012(1) 2022(2) Employees Nationalities under 35 in 2022 Scholarship Programmes and Initiatives Premio Alberto yearly average Giovannini 400k training h
Slide 16: 4 A Global Leader in a Promising Sector
Agenda 4 A GLOBAL LEADER IN A PROMISING SECTOR PIETRO SALINI CHIEF EXECUTIVE OFFICER 16
Slide 17: Paradigm shift in the sector: infrastructure for global megatrends
Paradigm Shift in the sector: all parties aligned to deliver innovative infrastructures to address global megatrends 2050 Megatrends Driving Higher Need Customers, Contractors and Supply Chain for Infrastructure(1) all aligned to deliver on: GHG emission Increase in global Growth in in 2030 to achie
Slide 18: 2023-24 infrastructure investments driven by Next Generation EU, US and Australia
2023-24 infrastructure investments driven by Next Generation EU, US and Australia Market value, Infrastructures(1) North Other EU (€bn) America countries Including UK, Nordic, Switzerland 2023-24 637 1,000 Italy growing in 2023-24 113 driven by Next Generation EU Fund 76 North America continue Saudi
Slide 19: Core for Italy growth, building strategic projects
We are core for Italy growth, building strategic projects at the highest health, safety and quality standards with a vast supply chain Operating 29 17.7 €bn >13 €bn projects in Italy Ongoing projects Construction backlog PNRR financed 10,000 of which €9.4bn included in PNRR projects expected Busines
Slide 20: Webuild expands footprint in Australia
Webuild expands footprint in Australia Energy €135bn Infrastructure Energy Installed (GW) Transmission Lines market (Australia) 2023-24 Market 2020-30 €20bn +43 GW in 10 years €20bn CAGR €12bn investments up to 2030 Backlog (1) +5% 111 105 94 99 82 88 77 68 68 68 71 Renewables MAIN PROJECTS (1) Prod
Slide 21: Potential growth in promising key sectors
Potential growth in promising key sectors Water Sustainable buildings es. Data Centers, Hospitals Market Market (Global) CA GR €25bn Global leader in water treatment and desalination plants serving €18bn over 20m people +5% €16bn CSC: Data Center with double- digit growth (+10%) driven by €168bn €12
Slide 22: The future is now: ready to deliver
The future is now: ready to deliver 1 Platform and backlog already in hand to deliver targets: Webuild Group Organization, people, know-how, local platform in core markets, in 2025 Revenues like US and Australia, already in place Backlog €10.5-11.0bn to develop projects and meet targets ca. €57bn 80
Slide 23: 5 Roadmap to 2025: Strategic Pillars & Financial Targets
Agenda 5 ROADMAP TO 2025: STRATEGIC PILLARS & FINANCIAL TARGETS MASSIMO FERRARI GENERAL MANAGER CORPORATE AND FINANCE 23
Slide 24: Strategic 2023-2025 drivers: Business Evolution
Strategic 2023-2025 drivers: Business Evolution 1 Leverage on robust order backlog 2 Act as partner for clients 3 Enhance presence in currently covering >95% of 2023-25 to address: core markets: targeted revenues and EBITDA Climate transition Energy transition PNRR opportunities in Italy: >€9bn of b
Slide 25: Strategic 2023-2025 drivers: Operating Efficiencies and Cash Generation
Strategic 2023-2025 drivers: Operating Efficiencies and Cash Generation 1 Operating efficiencies improving 2025 EBITDA margin for 100 bps 2 Other levers for cash generation I. Asset reutilizations CAPEX II.Optimization of contracts Rigorous management of projects and payment with suppliers cycle I.
Slide 26: Strategic 2023-2025 drivers: Priority on Safety & Environment
Strategic 2023-2025 drivers: Priority on Safety & Environment Safety first Lost Time Injury Frequency 2022 Programmes and innovative solutions TARGET 4.75 -41% -40% -9% >2.8 Smart Innovative safety safety mln training 2.79 Remote- AUTONOMOUS EXPLORATION ELECTRIFIED VEHICLE Controlled 2017 2022 Rover
Slide 27: Target of >€10bn revenues and €1bn EBITDA, maintaining net cash
Target of >€10bn revenues and €1bn EBITDA, maintaining net cash position 2022 2023E 2025E Average >85% of landing backlog Book-to-bill >1.1x in low-risk countries(2) Backlog distribution per geography Revenues 10.5-11.0 1 8.2 9.0-9.5 +30%(1) Other >75% >85% Low-risk(2) €bn 55% EBITDA 572 720-760 990
Slide 28: Appendix
Appendix FY 2022 RESULTS 28
Slide 29: Income Statement
Income Statement Webuild Group FY 2021 Adjusted FY 2022 Adjusted Reclassified statement of profit or loss adjusted Webuild Joint Joint ventures not ventures not controlled controlled PPA PPA backlog Ethiopian CAVTOMI CAVTOMI Ethiopian nonrecurring Webuild Joint Joint ventures not ventures controlled
Slide 30: Income Statement
Income Statement Webuild Group Reclassified statement of profit or loss FY 2021 (*) FY 2022 (€/000) Revenue Revenue from contracts with customers 6,109,730 7,656,006 Other income 442,513 435,147 Total revenue and other income 6,552,243 8,091,153 Gross operating profit (EBITDA) 445,619 582,745 EBITDA
Slide 31: Statement of Financial Position
Statement of Financial Position Webuild Group Reclassified statement of financial position (€/000) December 31, 2021 December 31, 2022 Non-current assets 1,992,500 1,976,156 Goodwil 78,496 82,884 Non-current assets (liabilities) held for sale 24,849 848 Provisions for risks (222,591) (198,879) Post-
Slide 32: Net Financial Position
Net Financial Position Webuild Group Net financial indebtedness (€/000) December 31, 2021 December 31, 2022 Non-current financial assets 418,511 518,439 Current financial assets 313,241 439,356 Cash and cash equivalents 2,370,032 1,921,177 Total cash and cash equivalents and other financial assets 3
Slide 33: Safe Harbour
Safe Harbour These objectives and statements are Additional based on assumptions that information on the factors are dependent upon that could have an impact on This presentation may contain significant risk and uncertainty Webuild’s financial results is forward-looking objectives and factors that m
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