Slide 1: First Half 2021 Financial Results
Naples Bari High Speed, Italy Ship Canal Water Quality Project – Storage Tunnel, USA Gerald Desmond Replacement Bridge, USA Metro Milan line 4, Italy First Half 2021 Financial Results 30 July 2021
Slide 2: Agenda
Agenda Business Update Pietro Salini Chief Executive Officer Financial Update Massimo Ferrari General Manager Corporate and Finance Outlook Pietro Salini Chief Executive Officer Q&A 2
Slide 3: Highlights
Highlights Key Facts ▪ Acceleration on de-risking process: ▪ Record New Orders in Core Markets: Italy, Australia, United States, France and Switzerland ▪ 70% Construction Backlog and 80% Revenues in low-risk areas ▪ Net Debt more than halved: down from €1.1bn to €0.5bn in last 12 months ▪ Positive o
Slide 4: Solid first half of the year amid global infrastructure investment boost
Solid first half of the year amid global infrastructure investment boost A January B April C July Tap 2025 Bond €200m Launched 2021-2023 ESG Fitch affirmed BB rating, Sustainability Plan improving outlook to stable EGM approved the plan for demerger of Astaldi S&P affirmed BB- rating, improvin
Slide 5: Outstanding order intake: €9.6bn, reaching €23bn with Texas high-speed railway mega contract
Outstanding order intake: € 9.6bn, reaching € 23bn with Texas high-speed railway mega contract € 9.6 bn(1) € 13.1 bn € 5.0 in Italy bn Acquired or in the process of being finalized and Texas High-Speed Rail tenders for which Webuild identified as best bidder Project >70% in high speed railways Focus o
Slide 6: Solid Backlog boosting visibility: ~5x 2021 revenue target
Solid Backlog boosting visibility: ̴5x 2021 revenue target Key Facts Construction Backlog by geography Construction Backlog by activity Europe; 9% (9%) Clean Water; 4% €43.3bn North America; 10% (3%) Other; 8% (11%) Total backlog(1), of which (11%) €34.5bn Construction(1) Italy; 44% Australia; 9% Gr
Slide 7: Core strategic countries make up bulk of revenues: over 80% in 1H 2021
Core strategic countries(1) make up bulk of revenues: over 80% in 1H 2021 Continuing focus on projects that contribute to SDG(2) advancement (93%) and Revenues by activity(3) to the fight against climate change (low carbon: 61%) Clean Hydro Energy; Low carbon; 61% 14% Green Buildings; 5% Revenues in
Slide 8: Astaldi integration
Astaldi integration Transaction structure On July 29th, 2021 all the conditions related to the partial and proportional demerger of Astaldi in favour of Webuild were met. The demerger is expected to become effective on August 1st, 2021 Pre Spin-off Post Spin-off Astaldi Webuild Astaldi “New sharehol
Slide 9: Commercial efforts focused on Italy, Europe, North America and Australia
Commercial efforts focused on Italy, Europe, North America and Australia Key Facts Commercial pipeline by geography Core addressable market 21-23 Commercial pipeline(1) Total €125bn 37% €7.0bn Total awaiting outcome(1), of 15% €34bn 19% Europe which €0.8bn related to North America Italy maintenance
Slide 10: Encouraging outlook under Italian National Plan for Recovery and Resilience
Encouraging outlook under Italian National Plan for Recovery and Resilience(1) Key Facts Main high speed railway included in the PNRR €24bn €10bn Total value of strategic €15bn Additional funds in infrastructure projects Infrastructure Ministry plan included in PNRR(1) PNRR direct financing(1) thank
Slide 11: Financial Update
Agenda Financial Update Massimo Ferrari General Manager Corporate and Finance 11
Slide 12: 1H 2021 Operating Results improve as activities steadily return to pre-COVID levels
1H 2021 Operating Results improve as activities steadily return to pre-COVID levels Operating results +42% (€m) 3,137 ▪ Top line growth by 42% as a 2,213 result of operational resumption of construction sites and Astaldi acquisition, despite restrictive Revenues measures still in place across (1) di
Slide 13: 1H 2021 Group Net Income
1H 2021 Group Net Income (€m) 1H 2020(1) 1H 2021(1) Var Net Financial charges (€m) 1H 2020(1) 1H 2020(1) Var EBIT 35 61 26 Bank charges and commissions (24) (24) (0) Financial income 43 29 (14) Bond charges (19) (36) A (16) Financial expenses (77) (102) (26) Leasing (3) (3) 0 Other (31) (39) B (8) N
Slide 14: Net Debt more than halved in last 12 months, despite COVID-19 restrictions
Net Debt more than halved in last 12 months, despite COVID-19 restrictions Key Facts Strong cash flow generation despite typical working capital first half cyclicality 1H 1H 1 Working capital sharply improves against (€m) Var 2020(1) 2021 1H 2020 and usual seasonality in an EBITDA for cash environme
Slide 15: Limited debt maturities until mid-year 2022
Limited debt maturities until mid-year 2022 Key Facts M/L Corporate Debt – schedule as at June 2021 €m €237m June 2021 bond repaid 750 500 450 €200m 5 250 3 41 52 New bond issued 2021 2022 2023 2024 2025 2026 2027 in Jan. 2021 % on 1% 22% 2% 27% 37% 0% 12% total Bank Bond 3.5% Average Cost of Debt 2
Slide 16: Outlook
Agenda Outlook Pietro Salini Chief Executive Officer 16
Slide 17: Strategic Drivers 2021-23
Strategic Drivers 2021-23 Guidelines Consolidate presence in Italy • Accelerating work on projects in the order book • Taking advantage of the Group’s greater scale to seize opportunities arising from Italy’s latest measures for the infrastructure sector (PNRR(1), new advance payment regime and a si
Slide 18: 2021-2023 Financial Trajectory of Core Business
2021-2023 Financial Trajectory of Core Business KPI 2021 2023 Average >1.0(1) Book-to-bill (x) 7.4 8.3 Range 6.5 7.2 Revenues(2) (€bn) EBITDA Margin % ~8% >8.5% Net Debt 100-130m (€m) (500) (300) Annual reduction (300) (40) These targets may be susceptible to change as a result of the unpredictable
Slide 19: #WeInvest in Sustainability
Our Sustainability Strategy and priorities… #WeInvest in Sustainability With clear and ambitious targets Green Builders -35% Carbon intensity(1) (2022 vs 2017) -40% Safe and Inclusive Builders Lost Time Injury Frequency (LTIFR)(2) (2022 vs 2017) 20% Female identified in key roles’ succession plannin
Slide 20: …are highly appreciated by independent ratings
…are highly appreciated by independent ratings Main ESG Ratings MSCI ESG CDP Climate ISS ESG VigeoEiris EcoVadis Rating A Rating B Rating Prime Rating Advanced Rating Gold A C+ 60 72 B B BB C+ 53 62 2018 2021 2018 2020 2018 2020 2018 2020 2018 2020 Most recent sustainability awards Italian Europe Cl
Slide 21: Appendix
Appendix 21
Slide 22: Our contribution to Sustainable Development Goals
Our contribution to Sustainable Development Goals(1) a sustainable world We improve people’s lives Enhancing local economies Adopting the highest ESG standards 82% Best-in-class Local personnel hired Safety performance ≈87m 91% Local purchases 40% Women in the BoD People benefiting from ongoing 8x 7
Slide 23: Income Statement (adjusted)
Income Statement Webuild Group Reclassified statement of profit or loss adjusted Financial Statement June 30, 2021 1st half 2020 Adjusted 1st half 2021 Adjusted Webuild Joint ventures not Condotte out-of-court Webuild Joint ventures not (€/000) Total Adjusted Total Adjusted Group controlled by Lane
Slide 24: Income Statement
Income Statement Webuild Group Reclassified statement of profit or loss Financial Statement June 30, 2021 1H 2020 1H 2021 (€/000) Total revenue and other income 2,033,181 3,047,148 Gross operating profit (EBITDA) 87,127 183,354 EBITDA % 4.3% 6.0% Impairment losses (27,118) (6,360) Provisions, amorti
Slide 25: Statement of Financial Position
Statement of Financial Position Webuild Group Reclassified statement of financial position Financial Statement June 30, 2021 31 december (€/000) 30 june 2020 2020 30 june 2021 Non-current assets 1,337,742 1,868,750 1,975,269 Goodwil 76,291 70,020 72,151 Non-current assets (liabilities) held for sale
Slide 26: Net Financial Position
Net Financial Position Webuild Group Net financial indebtedness Financial Statement June 30, 2021 31 december (€/000) 30 june 2020 2020 30 june 2021 Non-current financial assets 424,403 321,951 319,094 Current financial assets 237,901 339,003 388,762 Cash and cash equivalents 1,331,827 2,455,125 1,7
Slide 27: Safe Harbour
Safe Harbour This presentation may contain forward-looking objectives and statements about Webuild’s financial situation, operating results, business activities and expansion strategy. These objectives and statements are based on assumptions that are dependent upon significant risk and uncertainty f
Slide 28: Thank you
Thank you