Trevi Finanziaria Industriale S.p.a. · MIL:TFIN
Trevi Finanziaria Industriale — Investor Presentation (May 2020)
32 slides from Trevi Finanziaria Industriale's investor presentation, May 6, 2020
Slide 1: Investor Presentation
Investor Presentation May 6, 2020
Slide 2: Disclaimer and other information (1/2)
Disclaimer and other information (1/2) This document has been prepared by and is the sole responsibility of Trevi Finanziaria Industriale S.p.A. (the “Company”) for the sole purpose described herein. The information contained herein does not contain or constitute an offer of securities for sale, or
Slide 3: Disclaimer and other information (2/2)
Disclaimer and other information (2/2) This presentation includes certain forward looking statements, projections, objectives and estimates reflecting the current views of the management of the Company with respect to future events. Forward looking statements, projections, objectives, estimates and
Slide 4: Why invest in Trevi Group
Why invest in Trevi Group Leadership in a highly specialized niche market Solid business model focused on the foundations sector which benefits from the complementarity between services and equipment Strong global presence… with over 90% of revenues generated outside Italy (less dependence on the do
Slide 5: High professional and experienced top management team
High professional and experienced top management team New professional management team, with recognized experience in the sector, together with new corporate governance and projects management practices will lead to a radical improvement of Group core business and overall performance Giuseppe Casell
Slide 6: Restructuring process overview
Restructuring process overview Overall restructuring process carried out in the context of art. 182 of Bankruptcy law Financial manoeuvre key features Key milestone of the restructuring process • Capital strengthening transaction, to be implemented • 2 August 2019 - viability of the restructuring ag
Slide 7: Index
Index I Trevi Group: overview of the Group and performance outlook II Trevi Group: quality, health, safety and environment policy III Financial restructuring plan overview IV Capital increase Indicative Timeline 7
Slide 8: The new structure of the Group
The new structure of the Group Group structure pre manoeuvre New Group structure • The disposal of the O&G division to MEIL Group is • Group structure simplification and focused on subsoil Engineering & effective from March 31st 2020 Construction activities (Trevi core business). Synergies deriving
Slide 9: Key strengths of the Group - take-away of the restructuring plan
Key strengths of the Group - take-away of the restructuring plan • Leading integrated Group in the field of specialized underground engineering with consolidated experience Consolidated in the execution of complex interventions, such as special foundations, soil consolidation, restoration and experi
Slide 10: Trevi: key strategic pillars
Trevi: 7 key strategic pillars Geographic Footprint Operations Costs Credit collect- Asset base focalization optimization optimization right-sizing tion boost optimization Focus on Shut down / Optimize project Review Boost Accelerate asset countries with freezing execution and organization at outsta
Slide 11: Soilmec: key strategic pillars
Soilmec: 5 key strategic pillars Focus on Core Shift towards Operations Right-sizing Shift to "Service Business High-end optimization Indirect Costs company" products Focus on Soilmec core Concentrate Revision and Review organization at Evolve market products, as Rotary production on high streamlini
Slide 12: Trevi consolidated experience: the most recognizable projects (1/2)
Trevi consolidated experience: the most recognizable projects (1/2) Jobsites Worldwide Jobsites in Italy Vasco da Gama Torre di Pisa Pisa bridge World Trade San Giovanni Rome Center metro station Arco Mirelli Panama Canal Naples metro station San Marco Wolf Creek Dam bell tower Venice restoration Pa
Slide 13: Trevi consolidated experience: the most recognizable projects (2/2)
Trevi consolidated experience: the most recognizable projects (2/2) Jobsites Worldwide Jobsites in Italy Casueway on Wind Tunnel Ferrari Modena Kuwait Gulf High Speed Florence- Mosul Dam Railwail Bologna Costa Concordia Herbert Hoover recovering Giglio Dike project Island New eastern Frankfurt Four
Slide 14: Soilmec extensive portfolio of offerings
Soilmec extensive portfolio of offerings… Piling Hydromill & Attachment CFA Cranes Microdrilling rigs Grabs rigs Ancillaries Mud Grout Drilling and line line tools DMS APS controls 14
Slide 15: Outstanding products in terms of technology and commercial development
…with outstanding products in terms of technology and commercial development Machine “Machines at work”: the main jobsites equipment Hydromill Hydromill 135 Tiger Hydromill 135 Tiger Hydromill 135 Tiger 4 Frankfurt Project Metro Grand Paris Metro Guangzhou 135 Tiger SR-125 HD SR-125 HD SR-125 HD SR-
Slide 16: Trevi Group positioning will allow to exploit market trends
Trevi Group positioning will allow to exploit market trends • Foundations market expected to grow leveraging the significant exposure to high-growth infrastructure segment. Mass- urbanization driving the growth of mega-cities increasing demand of high-quality infrastructure and mobility (e.g. Metros
Slide 17: New contracts awarded and the current order backlog
New contracts awarded and the current order backlog Main project awarded beginning of February 2020 for a total value of # Jobsites €86m ✓ Veidekke Entreprenør, the largest Norwegian construction company, has awarded Trevi S.p.A. the retention and soil 1 improvement work for the Drammen cut&cover an
Slide 18: Geographical footprint
Geographical footprint 1H2019A Europe Company Revenues Company % revenues ~€202m ~18% ~€93m ~27% North America Conclusion of existing Company % revenues active projects in riskier Latin American countries ~20% (e.g. Venezuela) ~27% Asia & Middle-East Company % revenues Africa ~33% Company % revenues
Slide 19: High professional and experienced top management team
High professional and experienced top management team New professional management team, with recognized experience in the sector, together with new corporate governance and projects management practices will lead to a radical improvement of Group core business and overall performance Best practices
Slide 20: The Business Plan 2019-2022 of the Trevi Group
The Business Plan 2019-2022 of the Trevi Group The Business Plan, approved by the Board of Directors on April 1st 2019, assumed the completion of financial manoeuvre in 2019 and does not take into account the potential impacts of the COVID-19 CAGR ’19-22BP: +5% 783 724 747 642 674 Revenues and EBITD
Slide 21: Comparison between 2019 Business Plan and pre-closing figures
Comparison between 2019 Business Plan(2) and pre-closing figures • Differences between Business Plan and pre- 674 closing revenues and EBITDA are mainly 624 related to: Revenues • higher extraordinary costs due to (€m) delays in the restructuring process • early termination of the Mosul Dam project,
Slide 22: 2020 Business Plan figures and sensitivity on COVID-19 impact
2020 Business Plan figures(2) and sensitivity on COVID-19 impact The negative impact on 2020 figures deriving from the COVID-19, together with the deviations between the 2019 Business Plan and pre- closing figures, falls within the ranges considered in the context of the sensitivity analyses carried
Slide 23: Index
Index I Trevi Group: overview of the Group and performance outlook II Trevi Group: quality, health, safety and environment policy III Financial restructuring plan overview IV Capital increase Indicative Timeline 23
Slide 24: The objectives in the Group's integrated health and safety system
The objectives in the Group's integrated health and safety system Consciousness Integrated compliance • The principle of accountability requires the Group to manage its business responsibly, taking into account the risks associated with its activities and ensuring an effective and Rule 231/2001 effi
Slide 25: Safety Policy adopted by the Group aims to avoid risks and costs of non-compliance
Safety Policy adopted by the Group aims to avoid risks and costs of non-compliance Group’s actions The Group has considered of fundamental importance to invest in safety, also through specific activities of the control bodies in order to limit risks and create a safer and, in some respects, even mor
Slide 26: Quality Health Safety and Environment Awards
Quality Health Safety and Environment Awards Award Description Wolf Creek Dam ✓ Treviicos-Soletanche JV received a certificate from USACE (Nashville District) in recognition of achieving 1 million man- hours without No Lost Time Accidents Metro Ryad ✓ Trevi Arabian Soil Contractors (ASC) received a
Slide 27: Index
Index I Trevi Group: overview of the Group and performance outlook II Trevi Group: quality, health, safety and environment policy III Financial restructuring plan overview IV Capital increase Indicative Timeline 27
Slide 28: The three pillars of the financial restructuring plan
The three pillars of the financial restructuring plan 1 Capital 2 Debt 3 Disposal of the Increase Restructuring Oil&Gas division Disposal of the Oil&Gas division to Rights offering to be subscribed in Debt conversion into ordinary the MEIL Group for €116m on a cash for an amount equal to €130m share
Slide 29: Financial manoeuvre impact on equity
Financial manoeuvre impact on equity Total capital strengthening estimated in a range between ca. €381m and €434m depending on the effective subscription from the market • Rights offering to be subscribed in cash for an amount to be offered pre- emptively to the shareholders of €130m, with underwrit
Slide 30: Financial manoeuvre impact on Group net financial position
Financial manoeuvre impact on Group net financial position Total manoeuvre impact on Group Net Debt estimated in a range between ca. €480m and €533m depending on the effective subscription from the market • Conversion of bank loans in to ordinary shares with a conversion ratio of Conversion of €284.
Slide 31: Index
Index I Trevi Group: overview of the Group and performance outlook II Trevi Group: quality, health, safety and environment policy III Financial restructuring plan overview IV Capital increase Indicative Timeline 31
Slide 32: Right Issue
Right Issue Indicative Timeline Key features Capital increase max c. €130m 1 Prospectus publication amount 100% guaranteed Prospectus release: April 29th N° of share issued 13,000,118,907 2 Trevi BoD Approving the prospectus and launch of the offering April 23rd Issuance price €0.01 3 Start of offer
Trevi Finanziaria Industriale — Investor Presentation (May 2020) on 6ix