Tesmec S.p.a. · MIL:TES
Tesmec — H1 2026 Earnings Presentation
20 slides from Tesmec's earnings presentation, Aug 5, 2026
Slide 1: H1.2026 Results
H1.2026 RESULTS Grassobbio, August 5th, 2026 1
Slide 2: H1.2026 Results
H1.2026 RESULTS GROUP FINANCIALS & KEY METRICS 2026 GUIDELINES ANNEX
Slide 3: Group Financials & Key Metrics
GROUP FINANCIALS & KEY METRICS 3
Slide 4: H1.2026 Highlights
H1.2026 HIGHLIGHTS WHAT WORKED WELL WHERE WE ARE ▪ Revenue growth +12,2% vs. H1.2025, driven by strong Energy business performance and MAKING PROGRESS signs of recovery in the Trencher division WHAT COULD ▪ EBITDA up 14,7% vs. H1.2025, with EBITDA ▪ Trenchers performance showing signs of margin impr
Slide 5: Profit & Loss Statement
H1.2026 PROFIT&LOSS STATEMENT (€M) PROFIT & LOSS H1.2025 H1.2026 Δ Δ% REVENUES 128,6 144,2 15,6 +12,2% ▪ REVENUES growing by 12,2%, driven by strong Energy performance and recovery in the Trencher business, with EBITDA 21,2 24,3 3,1 +14,7% increased manufactured volumes. Rail’s results, though in %
Slide 6: Statement of Financial Position
H1.2026 STATEMENT OF FINANCIAL POSITION (€M) Δ Jun. 30, 2026 vs Dec.31, 2025 Jun.30, 2026 Dec.31, 2025 NET WORKING CAPITAL 71,8 64,3 (7,5) ▪ NET INVESTED CAPITAL decreasing by 3,1€M vs. Dec-2025, mainly driven by Net working FIXED ASSETS 116,8 117,5 0,7 capital decreased by 7,5€M, thanks to the Ener
Slide 7: Net Financial Position Evolution
H1.2026 NET FINANCIAL POSITION EVOLUTION (€M) 130,4 27,6 6,8 2,6 24,3 120,3 7,5 102,8 1,9 95,9 8,2 Dec. 31,2025 IFRS16 Net debt OCF NWC CAPEX FLEET EQUITY ADJ.* Net debt IFRS16 Jun.30,2026 31/12/2025 EXCLUDING 30/06/2026 FLEET €M Jun.30, 2026 Dec.31,2025 Jun.30,2025 INVENTORIES 101,9 87,7 96,8 WORK
Slide 8: Trenchers: H1.2026 Facts & Figures
TRENCHERS: H1.2026 FACTS & FIGURES (€M) KEY FACTS 60,2 63,3 ▪ Recovery trajectory started in H1.2026, supported by higher production volumes and a progressively strengthening backlog, providing improved visibility for 9,1 9,1 the coming quarters 15,1% 14,3% ▪ Selective focus on high-value end-market
Slide 9: Rail: H1.2026 Facts & Figures
RAIL: H1.2026 FACTS & FIGURES (€M) KEY FACTS 25,0 ▪ Acceleration in execution activities expected in H2 2026, 20,7 supported by the progressive ramp-up of recently awarded contracts and the advancement of key projects through their respective operational phases 4,2 ▪ Continued progress of the new bi
Slide 10: Energy: H1.2026 Facts & Figures
ENERGY: H1.2026 FACTS & FIGURES (€M) KEY FACTS 60,2 STRINGING ▪ Strong growth momentum and a backlog up ~86% vs. Jun- 43,4 25, providing increasing visibility beyond the current year ▪ Condux Tesmec JV confirmed as a key growth platform in the U.S. market, supporting margin expansion through 13,7 si
Slide 11: 2026 Guidelines
2026 GUIDELINES | TESMEC
Slide 12: 2021-2025 Equity Story and 2026 Outlook
2021-2025* EQUITY STORY and 2026 OUTLOOK 2026 OUTLOOK: EXPECTED GROWTH OF KEY ECONOMIC INDICATORS VS. 2025 AND FURTHER REDUCTION OF NET FINANCIAL INDEBTENESS VS. JUNE 30, 2026, THANKS TO AN ACCELERATION OF BUSINESS MOMENTUM IN H2.2026 REVENUE EBITDA NFP Solid, high-quality order backlog, enduring vi
Slide 13: Annex
ANNEX TESMEC
Slide 14: H1.2026 Highlights
H1.2026 HIGHLIGHTS Strong performance in the U.S., Fidenza is evolving into Tesmec @ European Mid Cap Event MCRC Multi-Capability Railway Car driven by significant New UG-LINE range launched Tesmec’s Energy Automation (Paris 2026), organized by Intermonte – on the market to deliver enhanced achievem
Slide 15: EBITDA Trend by BU
H1.2026 EBITDA TREND BY BU (€M) (2,7) 5,8 0,0 Lower Business 24,3 21,2 volumes recovery Volume growth pending largely offset and margin execution of by the expansion recently unfavorable across both 24,3 awarded 24,2JV French 21,2 with segments, contracts and impact Stringing less favorable signific
Slide 16: H1.2026 KPI
H1.2026 KPI BACKLOG MARKETS RECURRING BUSINESS • Long- term backlog in Automation and Rail • Recurring: Rental, Projects, Spare Parts, Services (maintenance, revamping & refurbishing, consulting & training), LT backlog; • Non-recurring: Sales of goods Africa; 11% Europe; 16% Middle Energy East; 14%
Slide 17: Summary
H1.2026 SUMMARY (€M) PROFIT & LOSS (€ Mln) H1.2026 H1.2025 BALANCE SHEET (€ Mln) Jun.30,2026 Dec.31, 2025 NET REVENUES 144,2 128,6 Inventory 101,9 87,7 Raw materials costs (-) (67,8) (58,3) Work in progress contracts 30,6 34,3 Cost for services (-) (29,1) (23,8) Accounts receivable 72,9 61,1 Personn
Slide 18: Results Conference Call
H1.2026 RESULTS CONFERENCE CALL Wednesday 5th August, 2026 2.30 PM CET Diamond Pass Registration ir@tesmec.com Investors | Tesmec 2026 FINANCIAL CALENDAR ▪ 6 November 2026 Approval of the Company’s Quarterly Report as of 30th September 2026 18 H1.2026 RESULTS
Slide 19: 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
Slide 20: Tesmec
TESMEC 20