Slide 1: FY 2025 Financial Results
IIISQMEC FY 2025 FINANCIAL RESULTS
Slide 2: Speakers
SPEAKERS OSCAR MARCHETTO ALESSANDRO ZANCHETTA DANIEL BICCIATO Chairman and Chief Executive Officer Chief Corporate Officer Group Chief Financial Officer 25 MARCH 2026 FY 2025 FINANCIAL RESULTS 2
Slide 3: Somec Group, world leading expert in complex turnkey projects
SOMEC GROUP, WORLD LEADING EXPERT IN THE CONSTRUCTION OF COMPLEX TURNKEY PROJECTS IN BOTH CIVIL AND NAVAL SECTORS 25 MARCH 2026 FY 2025 FINANCIAL RESULTS 3
Slide 4: 3 Divisions of the Group
3 DIVISIONS OF THE GROUP * ** * A brand of GICO SpA / ** A brand of Pizza Group Srl 25 MARCH 2026 FY 2025 FINANCIAL RESULTS 4
Slide 5: FY 2025 Results Highlights
FY 2025 RESULTS HIGHLIGHTS INDICATOR FY 2024 RESULT FY 2025 RESULT YoY VS TARGET (-3.3 %) TOTAL REVENUES 382.3 €M 370.0 €M -2.1 % Constant forex EBITDA ADJUSTED 30.1 €M 34.3 €M +14 % EBITDA MARGIN ADJUSTED 7.9 % 9.3 % +1.4 BPS STRONG NET RESULT -0.5 €M 7.1 €M RESULT ACCELERATED NET FINANCIAL POSITIO
Slide 6: Total Revenues
TOTAL REVENUES TOTAL REVENUES TOTAL REVENUES BREAKDOWN BY GEOGRAPHY €M % ON TOTAL -2.1% YoY ROW ROW 7.4% 6.4% 4.8 CONSTANT FOREX NORTH NORTH AMERICA AMERICA 382.8 42.8% 36.5% 370.0 EUROPE EUROPE 49.8% 57.1% FY 2024 FY 2025 FY 2024 FY 2025 Total revenues stood at 370.0 million Euro, down slightly fro
Slide 7: Revenues by Division
REVENUES BY DIVISION HORIZONS REVENUES TALENTA REVENUES MESTIERI REVENUES €M €M €M -8.0% +6.1% +6.4% YoY YoY YoY 239.0 62.5 95.3 219.8 89.6 58.9 FY 2024 FY 2025 FY 2024 FY 2025 FY 2024 FY 2025 This drop is primarily due to the dollar exchange rate effect, which impacted The growth is driven by an in
Slide 8: EBITDA Adjusted
EBITDA ADJUSTED Group improved its profitability EBITDA ADJUSTED EBITDA ADJUSTED BRIDGE €M / % €M +14.0% 8 34 YoY 30 1 (5) 34.3 EBITDA EBITDA 30.1 MARGIN MARGIN 9.3% 7.9% EBITDA ADJ Δ HORIZONS Δ TALENTA Δ MESTIERI EBITDA ADJ FY 2024 FY 2025 2024 2025 Group improved its profitability, confirming its
Slide 9: EBITDA Adjusted by Division
EBITDA ADJUSTED BY DIVISION Strong contribution by Mestieri Division HORIZONS EBITDA ADJUSTED TALENTA EBITDA ADJUSTED MESTIERI EBITDA ADJUSTED €M / % €M / % €M / % -1.2 BPS +0.8 BPS +8.4 BPS YoY YoY YoY EBITDA EBITDA EBITDA MARGIN MARGIN 25.5 EBITDA EBITDA 5.0 MARGIN 8.3 10.7% MARGIN MARGIN 4.2 8.0%
Slide 10: Net Result
NET RESULT Group’s return to robust profitability BRIDGE EBITDA ADJ - NET RESULT NET RESULT €M €M 34 33 (1) 7 19 -0.5 (14) 17 FY 2023 FY 2024 FY 2025 (3) 12 (5) 7 -10.4 (5) EBITDA NON EBITDA DEPR EBIT NON EBIT NET EBT TAX NET ADJ RECURRING AND ADJ RECURRING FINANCIAL RESULT COST AMORT IMPAIRMENT EXP
Slide 11: Net Financial Position
NET FINANCIAL POSITION Strong cash conversion, debt profile heading in the right direction NET FINANCIAL POSITION CASH FLOW €M €M NFP NFP ex. IFRS16-DEBT 37.6 -4.0 -3.4 -37.7% -61.8% YoY YoY -18.6 47.5 -7.5 47.7 -3.0 -0.9 58.6 36.5 36.1 13.8 FY 2024 FY 2025 FY 2024 FY 2025 CASH AS AT NET CASH FLOW C
Slide 12: Net Financial Position
NET FINANCIAL POSITION Accelerated deleverage FINANCIAL POSITION E BREAKDOWN LEVERAGE REDUCTION PATH €M €M / % FY 2023 FY 2024 FY 2025 -84.3 -58.6 -36.5 -57% VS 2023 21.9 28.1 27.7 47.0 47.5 47.7 FY 2023 FY 2024 FY 2025 84.3 -77.7 -110.6 -96.2 58.6 36.5 -11.5 -15.6 -22.8 -18.3 -22.4 FY 2023 FY 2024
Slide 13: Order Backlog as of 31 December 2025
ORDER BACKLOG AS OF 31 DECEMBER 2025 Solid growth driven by improved synergies across the three divisions TOTAL BACKLOG TOTAL BACKLOG BREAKDOWN BY SCHEDULED YEAR AND DIVISION €M / % €M +3.6% YoY 313 189 744 771 +95 ORDERS SECURED AFTER 31 DECEMBER 2025 77 56 64 40 25 7 FY 2024 FY 2025 2026 2027 2028
Slide 14: Market Outlook
MARKET OUTLOOK Impact across the divisions GEOPOLITICAL TENSION CRUISE INDUSTRY HOSPITALITY Subsequent to the close of the financial year, The cruise industry outlook remains broadly The luxury hospitality and interiors market the international geopolitical context was characterized positive, suppor
Slide 15: Q&A
FY 2025 FINANCIAL RESULTS Q&A
Slide 16: Annex
FY 2025 FINANCIAL RESULTS ANNEX
Slide 17: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT FY 2025 / Reclassified ‘000 Euro 31.12.2025 % 31.12.2024 % ∆ Revenues from contracts with customers 365,975 98.9% 377,627 98.6% (11,652) Other revenues and income 4,047 1.1% 5,196 1.4% (1,149) Total revenues 370,021 100.0% 382,823 100.0% (12,802) Materials, services and
Slide 18: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET FY 2025 / Reclassified ‘000 Euro 31.12.2025 31.12.2024 Intangible assets 39,831 46,012 of which Goodwill 31,229 33,063 Tangible assets 18,081 18,012 Right-of-use assets 29,461 21,933 Investments in associates 321 289 Non-current financial assets 335 326 Other non-current a
Slide 19: Consolidated Net Financial Position
CONSOLIDATED NET FINANCIAL POSITION FY 2025 ‘000 Euro 31.12.2025 31.12.2024 A. Cash and cash equivalents 46 65 B. Bank deposits 47,672 47,413 C. Total liquidity (A+B) 47,718 47,478 D. Current financial assets 27,728 28,149 E. Current bank debt (30,922) (43,302) F. Current portion of long-term debt (
Slide 20: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT FY 2025 / Reclassified ‘000 Euro 31.12.2025 31.12.2024 Cash flows from operating activities 37,604 27,444 Cash flows from investing activities (7,170) (5,254) Free Cash Flow 30,434 22,190 Cash flows from financing activities (29,204) (22,703) Effect of exchange rate
Slide 21: Disclaimer and Notes
DISCLAIMER AND NOTES This document has been prepared by SOMEC S.p.A. (the ‘Company’) solely for the purposes of this presentation. This document may not be reproduced or distributed in whole or in part by any other person with any way than the Company. The Company takes no responsibility for the use
Slide 22: Investor Relations
INVESTOR RELATIONS investorrelations@somecgroup.com