Italmobiliare S.p.a. · MIL:ITM
Italmobiliare — Italgen — Investor Day (October 2025)
9 slides from Italmobiliare's investor day presentation, October 2025
Slide 1: Italmobiliare Capital Market Day 2025 – Italgen
Italmobiliare Capital Market Day 2025 Italgen
Slide 2: Speaker
Speaker Luca Musicco CEO of Italgen since 2020 Previous experience in Italgen (CFO since 2016) and Italcementi (Group risk management and finance) 2
Slide 3: Italgen – the green energy company of Italmobiliare group
Italgen – the green energy company of Italmobiliare group Italgen operates in Italy in the production and transmission of electricity 100% from renewable sources with 30 hydroelectric concessions, 6 photovoltaic plants and 300 km of power lines +80% 57 103 160+ MW MW MW diversified energy mix Ing. C
Slide 4: Italgen is a benefit corporation that integrates specific common benefit purposes (UN SDG #7)
Italgen is a benefit corporation that integrates specific common benefit purposes (UN SDG #7) into its corporate mission, with a verified dedication to ESG ISO 45001, Safety best Code of Conduct, supplier’s ISO 14001, SBTi validated Governance, local practices, welfare, low ESG qualification, focus
Slide 5: Key financials – 2021-H1 2025
Key financials – 2021-H1 2025 Revenues and generation capacity growth thanks to expansion investments (greenfield projects and M&A), mainly financed through strong cash generation and non core asset disposals 66.8 387 Data in €m 56.8 316 50.0 45.3 267 184 Revenues 34.9 32.3 EBITDA adjusted 180 24.3
Slide 6: Sources & Uses 2021 - H1 2025
Sources & Uses 2021 - H1 2025 We financed growth and dividends manly trough cash-flows Data in €m 96 96 Self-financed business 46 Expansion capex Operating cash-flow 57 expansion 17 Maintenance capex Disposals of assets 25 abroad 34 Dividends Net debt increase 14 Sources Uses Note: data in €m 6
Slide 7: Power Purchase Agreements (PPAs) to provide certified renewable energy to selected industrial customers
Power Purchase Agreements (PPAs) to provide certified renewable energy to selected industrial customers Italgen has activated several long-term supply agreements to provide green energy at fixed prices to over 30 industrial customers, thus allowing to hedge selling energy prices over the years EXTER
Slide 8: Case study – Sun Giovanni solar project in Capitelli
Case study – Sun Giovanni solar project in Capitelli • Installed capacity: 4.8 MWp on 64,000 square metres of land • Technology: bifacial modules on single-axis trackers + battery to cover the factory's night-time consumption Battery • Production capacity: 7.2 GWh/year • Unlevered Project IRR: 10%,
Slide 9: A 58 MW pipeline that will allow to expand generation capacity and for further diversification
A 58 MW pipeline that will allow to expand generation capacity and for further diversification of sources and geography 103 MW +160 MW +58 MW in pipeline Greenfield 2025 TARGET 2028 projects in By source 94 MW pipeline Wind NORTH Wind 107 MW Solar 0% 22% 28% Hydro 46% 2 Hydro Solar 12 MW 72% 32% By