Slide 1: 2024.H1 Results
2024.H1 Results Grassobbio, August 6th 2024 1
Slide 2: 2024.H1 Tesmec Group Results
2024.H1 TESMEC GROUP RESULTS 01 Tesmec Group at a glance 02 Opening remarks 03 2024.H1 Group Financials & Key Metrics 04 2024 Outlook 05 Annex August 6th 2024 2
Slide 3: Tesmec Group: Integrated Solutions Provider for Energy and Data Transport
Tesmec 2024.H1 Results TESMEC GROUP: INTEGRATED SOLUTIONS PROVIDER FOR ENERGY AND DATA TRANSPORT Technology partner in markets driven by ENERGY TRANSITION, DIGITALISATION and SUSTAINABILITY with INNOVATIVE, VALUE-ADDED INTEGRATED SOLUTIONS for the construction, maintenance and efficiency of the in
Slide 4: Tesmec Business Units
Tesmec 2024.H1 Results TESMEC BUSINESS UNITS ENERGY STRINGING ENERGY AUTOMATION TRENCHERS & SURFACE MINERS RAILWAY • Solutions for power lines • Telecommunications solutions • Telecom networks, FTTH & long • Catenary lines installation construction & for HV Grids distance, power cable & maintenance
Slide 5: Tesmec Sustainability Path
Tesmec 2024.H1 Results TESMEC SUSTAINABILITY PATH TESMEC economic activities are eligible R&D Focus on developing innovative technologies and products to increase according to ANNEX I – Climate change &INNOVATION mitigation «3.Manufacturing» green and digital revenues. 3.1 - Manufacture of renewable
Slide 6: 2024.H1 Tesmec Group Results
2024.H1 TESMEC GROUP RESULTS 01 Tesmec Group at a glance 02 Opening remarks 03 2024.H1 Group Financials & Key Metrics 04 2024 Outlook 05 Annex August 6th 2024 6
Slide 7: Tesmec Group at a Glance
Tesmec 2024.H1 Results 2024.H1 TESMEC GROUP AT A GLANCE SALES BREAKDOWN BY BUSINESS SALES €M 124,2 (H1’23 €M 125,3) Energy €M 38,6 EBITDA Trencher €M 19,0; 15,3% (H1’23 €M 15,9; 12,7%) €M 66,0 124,2 €M Rail EBIT €M 7,1 €M 19,6 (H1’23 €M 4,5) NET RESULT €M (2,2) SALES BREAKDOWN BY REGION (H1’23 €M (2
Slide 8: Highlights
Tesmec 2024.H1 Results 2024.H1 HIGHLIGHTS First-half results in line with the Redesign of the industrial Net result impacted by higher “value before volume” strategy, footprint, with the concentration interest expenses due to with sales substantially stable of Stringing manufacturing at the increase
Slide 9: 2024.H1 Highlights
Tesmec 2024.H1 Results 2024.H1 HIGHLIGHTS Array rollers tailored Grassobbio site revamping and KAFD project – Saudi ASAT system installation designed to support Catenary lines installation & extended photovoltaic plant Arabia customer’s projects maintenance Trencher 1875EVO - Automation Fidenza plan
Slide 10: 2024.H1 Tesmec Group Results
2024.H1 TESMEC GROUP RESULTS 01 Tesmec Group at a glance 02 Opening remarks 03 2024.H1 Group Financials & Key Metrics 04 2024 Outlook 05 Annex August 6th 2024 10
Slide 11: 2024.H1 Profit & Loss Statement
Tesmec 2024.H1 Results 2024.H1 PROFIT&LOSS STATEMENT (€ mln) Profit & Loss 2024.H1 2023.H1 Δ vs.2023 RESULTS’ COMMENTARY REVENUES (1) 124,2 125,3 (0,85)% (1) Revenues: substantially in line with 2023.H1, with positive contribution from Energy volumes, both Automation EBITDA (2) 19,0 15,9 +19,0% and
Slide 12: Statement of Financial Position
Tesmec 2024.H1 Results 2024.H1 STATEMENT OF FINANCIAL POSITION (€ mln) RESULTS’ COMMENTARY Jun. 30, 2024 Dec. 31, 2023 • Net Working Capital increase, due to higher trade receivables Net Working Capital 112,5 86,8 following quarter-end sales, with still high levels of inventory of which: inventory 1
Slide 13: Trenchers: 2024.H1 Facts & Figures
Tesmec 2024.H1 Results TRENCHERS: 2024.H1 FACTS & FIGURES (€ mln) 80 KEY FACTS 68,9 66,0 70 60 -4% • Delays in US and slowdown in France energy and fiber optic 50 markets, and implementation of plans for corporate 40 reorganization, business development, and governance 30 +7,2% 10,2 • Positive busin
Slide 14: Rail: 2024.H1 Facts & Figures
Tesmec 2024.H1 Results RAIL: 2024.H1 FACTS & FIGURES (€ mln) 30 KEY FACTS 25,5 19,6 20 • Business Internationalization: promotion and discussions with -23% main European Railway Authorities, who have significant plans to renew their working vehicles fleet for 10 +7,2% 4,1 2,3 a safer railway infrast
Slide 15: Energy: 2024.H1 Facts & Figures
Tesmec 2024.H1 Results ENERGY: 2024.H1 FACTS & FIGURES (€ mln) KEY FACTS 50 Stringing 38,6 40 30,9 +25% • The new strategy for the Far East market, after few years of 30 stand-by, is now gaining momentum 20 • Strengthening presence in the Australian market by organizing +30% 6,5 training sessions fo
Slide 16: 2024.H1 Backlog
Tesmec 2024.H1 Results 2024.H1 BACKLOG (€ mln) 31/12/2022: 406,2 Backlog 31/12/2023: 402,2 evolution 30/06/2024: 370,3 Energy 104,3 250,0 200,0 Rail TOTAL 193,6 370€M 150,0 100,0 Trencher 72,4 50,0 • Long- term backlog in Automation and Rail 0,0 Energy Trencher Railway • Energy backlog including Aut
Slide 17: Revenues by Geography
Tesmec 2024.H1 Results 2024.H1 REVENUES BY GEOGRAPHY Africa; 10,2% Africa; 2,7% Middle East; Europe; 23,1% Europe; 27,7% 16,6% Middle East; 16,9% 2024.H1: BRIC & Others; 2023.H1: 124,2 €M 16,4% BRIC & Others; 125,3 €M 15,6% Italy; 16,9% North & Central Italy; 21,6% North & Central America; 19,6% Ame
Slide 18: Recurring vs Non-Recurring Revenues
Tesmec 2024.H1 Results 2024.H1 “RECURRING” VS “NON-RECURRING” REVENUES Recurring Non recurring Recurring Non recurring 53,2% 49,0% 46,8% 51,0% 2024.H1: 77 €M 2023.H1: 66,6 €M 58,7€M 63,3 €M 125,5 124,2 €M 126,4 60,9 €M 11,3 M€ 125,3 96,5€M 20,5€M €M €M M€ • Recurring: Rental, Projects, Spare Parts,
Slide 19: EBITDA Evolution by BU
Tesmec 2024.H1 Results 2024.H1 EBITDA EVOLUTION BY BU (€ mln) 25 +1,4 20 +3,4 (1,7) 15,3% 12,7% Volumes growth 19,0 Lower volumes, and operating 15 Improved sales partially mitigated by leverage 15,9 OPEX containment mix and reduced OPEX 10 5 0 2023.H1 Trencher Railway Energy 2024.H1 2023.H1: Positi
Slide 20: Net Financial Position Evolution and Free Cash Flow
Tesmec 2024.H1 Results 2024.H1 NET FINANCIAL POSITION EVOLUTION AND FREE CASH FLOW (€ mln) 200 183,6 51,0 183,6 150 153,5 25,6 (11,2) 153,5 39,2 3,9 132,6 100 114,3 A/R increase linked to end- 7,3€M net FCF quarter sales excl. ΔNWC and IFRS16 50 0 31/12/2023 IFRS 16 Net debt NWC OFCF CAPEX Net debt
Slide 21: Net Working Capital Evolution
Tesmec 2024.H1 Results 2024.H1 NET WORKING CAPITAL EVOLUTION (€ mln) 140 24,8 (7,1) 120 1,9 100 3,0 In coeherence with Taxes and 112,5 3,0 higher inventory others Increased A/R and A/R 80 linked to quarter- 86,8 end sales 60 Increase to support expected short-term volumes’ increase 40 20 0 31/12/202
Slide 22: 2024.H1 Tesmec Group Results
2024.H1 TESMEC GROUP RESULTS 01 Tesmec Group at a glance 02 Opening remarks 03 2024.H1 Group Financials & Key Metrics 04 2024 Outlook 05 Annex August 6th 2024 22
Slide 23: 2020-2023 Equity Story and 2024 Outlook
Tesmec 2024.H1 Results 2020-2023 EQUITY STORY and 2024 OUTLOOK (€ mln) 2024 OUTLOOK «VALUE OVER VOLUMES» REVENUE 35,2 251,9 34,0 153,5 • Strategic continuity and selective 245,2 approach • Intensive go-to-market to support fully ~270 Mln€ 28,1 128,4 integrated digitalized sustainable 121,0 194,3 bus
Slide 24: Trencher: 2024 Business Guidelines
Tesmec 2024.H1 Results TRENCHER: 2024 BUSINESS GUIDELINES Tesmec is reviewing and adjusting the plan to relaunch business activities in France to enhance profitability and Relaunching financial stability. The company must business leverage its reputation and technology activities in to develop new m
Slide 25: Trencher: 2024 Business Guidelines
Tesmec 2024.H1 Results TRENCHER: 2024 BUSINESS GUIDELINES Exhibitor at InnoTrans the must-attend event in the rail industry (Berlin, 24-27/09). Our offer for the rail infrastructure market matches perfectly the focus of Growing Internationalization the leading international trade fair for transport
Slide 26: Energy: 2024 Business Guidelines
Tesmec 2024.H1 Results ENERGY: 2024 BUSINESS GUIDELINES STRINGING AUTOMATION Implementing a new sales strategy, Integrated market approach targeting premium countries, while combining preservation of leveraging strong relationships with New sales Business consolidated channels with utilities to enha
Slide 27: Annex
2024.Q1 RESULTS INDEX 01 Tesmec Group at a glance 02 Opening remarks 03 2024.H1 Group Financials & Key Metrics 04 2024 Outlook 05 Annex August 6th 2024 27
Slide 28: Appendix A: 2024.H1 Summary Profit & Loss Statement
Tesmec 2024.H1 Results APPENDIX A: 2024.H1 SUMMARY PROFIT & LOSS STATEMENT PROFIT & LOSS (€ Mln) 2024.H1 2023.H1 Delta vs 2023 Delta % NET REVENUES 124,2 125,3 (1,1) -0,8% Raw materials costs (-) (55,3) (52,1) (3,2) 6,0% Cost for services (-) (22,3) (27,6) 5,3 -19,2% Personnel Costs (-) (29,8) (32,2
Slide 29: Appendix B: Summary 2024.H1 Balance Sheet
Tesmec 2024.H1 Results APPENDIX B: SUMMARY 2024.H1 BALANCE SHEET BALANCE SHEET (€ Mln) Jun. 30, 2024 Dec. 31, 2023 Inventory 113,6 110,6 Work in progress contracts 32,3 29,2 Accounts receivable 70,4 45,6 Accounts payable (-) (89,9) (82,8) Op. working capital 126,4 102,7 Other current assets (liabili
Slide 30: 2024 Tesmec Group Conference Call Schedule
Tesmec 2024.H1 Results 2024 TESMEC GROUP CONFERENCE CALL SCHEDULE Approval of the Company’s Quarterly Report as of 30th Results presentation: Friday, 8 November 2024 September 2024 Time and details will be confirmed prior to the conference call Contacts: ir@tesmec.com www.tesmec.com August 6th 2024
Slide 31: Disclaimer
DISCLAIMER This presentation has been prepared by Tesmec S.p.A. (“Tesmec”, the “Company” or the “Group”). As used herein, “Presentation” means this document, any oral presentation, the question and answer session and any written or oral material discussed or distributed during the presentation. The