Edil San Felice S.p.a. · MIL:ESF
Edil San Felice — H1 2025 Earnings Presentation
41 slides from Edil San Felice's earnings presentation, Dec 3, 2025
Slide 1: Investor Presentation H1 2025 Results
INVESTOR PRESENTATION H1 2025 Results 3 Dec 2025
Slide 2: Disclaimer
DISCLAIMER “This document (the “Document”) has been prepared by Edil San Felice S.p.A. S.B. (“Edil San Felice”) The Document is confidential in nature and is for the internal use of the recipient (hereinafter the “Recipient”) who, upon receiving it, agrees not to distribute, make known or quote the
Slide 3: People Speaking Today
PEOPLE SPEAKING TODAY LORENZO DI PALMA VINCENZO DI PIETRO MARIKA SGRITTO CEO & FOUNDER CFO IR +20 years of experience at +25 years of experience in Graduate in Business Economics Edil San Felice accounting finance and control for Master’s degree in Finance 3rd generation - Funding Family companies i
Slide 4: ESF Overview
1. ESF OVERVIEW 4
Slide 5: Highlights of the First Half of 2025
HIGHLIGHTS OF THE FIRST HALF OF 2025 In the first half of 2025, Edil San Felice S.p.A. recorded a solid economic and financial performance, consistent with the objectives outlined in the industrial plan, consolidating its position in the critical infrastructure sector, with particular focus on the m
Slide 6: Backlog & Soft Backlog
BACKLOG & SOFT BACKLOG € 214.8M +67% vs. €136.1M as of 31/12/2024 Hard Backlog* : € 88.4mn Soft Backlog** : € 126.3mn Business Lines/Type of Backlog (€/mn) % Hard Backlog 88,4 € 41,2% P01 - MOR 35,8 € 16,7% € 214.8M P02 - EDILIZIA 0,5 € 0,2% P03 - GRANDI OPERE 33,2 € 15,5% P04 - SERVIZI 7,5 € 3,5% P
Slide 7: Value of Production
VALUE OF PRODUCTION Production value reached €26.05M, up 5.7% from €24.65M in H1 2024. Growth drivers: • Expansion of the portfolio • Sustained on-site operational efficiency • Strengthened relationships with public and private clients in a highly regulated, competitive market Result: Confirms the c
Slide 8: Profitability Overview
PROFITABILITY OVERVIEW EBITDA: €6.04M → Margin: 23.2% (vs. 23.1% in H1 2024) EBIT: €5.31M → +3.4% YoY, Margin: 20.4% (vs. 20.8%) EBITDA (€/thousands) Key Drivers of Margin Stability • Cost control (direct & indirect) • Digitalization of technical & management processes • Predictive maintenance model
Slide 9: Net Financial Position
NET FINANCIAL POSITION +€7.30M as of 30 June 2025 → Significant improvement vs. +€2.82M as of 31 Dec 2024 PFN (€/thousands) Main Drivers of Improvement • Strong operating cash flow • Tight working capital management • €6M VAT credit sold (non-recourse) to UniCredit Factoring S.p.A. Financial Structu
Slide 10: Vehicles / Workers
MILESTONES 2024 A growing reality for more than ten years… New site in Bologna 2021 First works in Emilia-Romagna and 325 Puglia 315 2017 … Transformation of the company 239 into a joint stock company … 245 185 VEHICLES / WORKERS 223 2011-12 163 First projects outside 150 Campania 144 As of 30 June
Slide 11: ESF Business Overview
2. ESF BUSINESS OVERVIEW 11
Slide 12: What We Do
WHAT WE DO 40%* of VoP ORDINARY MAINTENANCE Activities made to preserve and keep the serviceable MAIN CLIENTS condition of highways as normal as possible RECURRENT BUSINESS LOWER RISK OF BACKLOG DELAYS Bologna PROXIMITY BUSINESS EXTRAORDINARY MAINTENANCE Nola Intervention of repairing, replaci
Slide 13: Full Control Over the Awarding and Execution Process
FULL CONTROL OVER THE AWARDING AND EXECUTION PROCESS PARTICIPATION We have a Tender&Order’s team with a high degree of specialization and a long AWARDING experience ESF has signed new executive contracts for a total value of Eu107,1mn (1) Average of 2 months between tender awarding and project start
Slide 14: Our Main Project: Vega-C
OUR MAIN PROJECT VEGA-C Modernisation and redevelopment of the Vega-c missile launch base Client Avio French Guyana Value € 1.8 mn Start Mar 2025 Duration 18 m 15
Slide 15: Our Main Project: Grazing Lighting System and Control Room
OUR MAIN PROJECT GRAZING LIGHTNING SYSTEM Installation of an experimental grazing lighting system Client Amplia Tangenziale di Napoli A56 Value € 0.8 mn Start Set 2023 Duration 6m CONTROL ROOM Construction of the ASPI general management Control Room Client Movyon Tangenziale di Napoli A56 Value €1.5
Slide 16: Our Main Project: Railway Station Buildings
OUR MAIN PROJECT RAILWAY STATION BUILDINGS Railways station mainteinance and restructuring Client RFI Mignanego Station Value € 12 mn Start Mar 2025 Duration 48 m 17
Slide 17: Our Main Project: Ordinary Maintenance and Urgency Works
OUR MAIN PROJECT ORDINARY MAINTENANCE Mowing the grass to maintain visibility standards for safety . Client ASPI DT3 Bologna Value € 4.7 mn Start Nov 2023 Duration 48 m URGENCY WORKS Urgent restoration and securing of the roads Client ASPI DT3 Bologna Value € 5 mn Start Dec 2023 Duration t.b.d. 18
Slide 18: ESF Sector & Market Highlights
3. ESF SECTOR & MARKET HIGHLIGHTS 19
Slide 19: The Italian Infrastructure Maintenance Market
THE ITALIAN INFRASTRUCTURE MAINTENANCE MARKET The Italian infrastructure maintenance market has unique characteristics, due to the country's history and configuration, and offers great opportunities, especially with the support of European funds and renewed interest in safety and sustainability. The
Slide 20: Critical Infrastructure in Crisis
CRITICAL INFRASTRUCTURE IN CRISIS Edil San Felice is primarily active in the maintenance works of highway infrastructures, with some minimal exposure also to airports. In the former vertical, Autostrade per L’Italia and ANAS are the main players, representing, respectively, 36% and 24% of the total
Slide 21: ESF Competitive Positioning
4. ESF COMPETITIVE POSITIONING 22
Slide 22: Competitive Positioning
COMPETITIVE POSITIONING Companies Services Distinguishing features of ESF Environmental Cleaning Civil Industrial Signage Roads AVR Execution of works without subcontracting REWAY GROUP EDIL MOTER High know-how with optimised industrial INTERGEOS processes GIOVETTI SISTAM Selection of projects with
Slide 23: ESF Overview: Key Facts
5. ESF ESF OVERVIEW KEY FACTS 24
Slide 24: New Corporate Structure
NEW CORPORATE STRUCTURE BoD(1) Post-IPO Shareholding Structure Lorenzo Di Palma 43% Francesco Di Ciommo CEO Women Chairman Colonna1 Market Indépendance AM 6% Carlo Di Palma Carmine Orsini Director Director Invitalia S.p.A. 7% Vincenza Patrizia Rutigliano Valentina Lazzareschi Independent director In
Slide 25: Key Facts in the First Half of the Year
KEY FACTS IN THE FIRST HALF OF THE YEAR Jenuary 2025 ESF, as a Benefit Corporation, is participating in the B Impact Assessment for the first time and has achieved a score of 72.4. February 2025 Edil San Felice issues a sustainability-linked bond worth 4 million euros with a five-year maturity. The
Slide 26: Key Facts in the First Half of the Year
KEY FACTS IN THE FIRST HALF OF THE YEAR March 2025 Edil San Felice has been awarded a contract by Avio worth 1.8 million euros for the construction of civil infrastructure at Avio's base in French Guiana. Additionally, Edil San Felice has secured two new contracts from ASPI totaling 11 million euros
Slide 27: Key Facts in the First Half of the Year
KEY FACTS IN THE FIRST HALF OF THE YEAR May 2025 Edil San Felice has been awarded two new contracts by ASPI, one worth over 16 million euros and another worth over 20 million euros, for extraordinary maintenance works. Additionally, Edil San Felice has secured a new 7.5 million euro contract from AN
Slide 28: Key Facts After the First Half of the Year
KEY FACTS AFTER THE FIRST HALF OF THE YEAR July 2025 Edil San Felice has been awarded a new contract worth over 9 million euros by ASPI for the regeneration of safety barriers. Contract awards in the first six months of 2025 exceed 65 million euros. Edil San Felice has also secured a contract worth
Slide 29: Key Facts After the First Half of the Year
KEY FACTS AFTER THE FIRST HALF OF THE YEAR October 2025 Edil San Felice has been awarded a new contract worth over 5 million euros by ASPI for the ordinary maintenance. October 2025 Edil San Felice has been awarded a new contract worth over 20 million euros by Anas S.p.A. for the maintenance of safe
Slide 30: ESF Financial Statement Overview
6. ESF ESF OVERVIEW STATEMENT FINANCIAL 30
Slide 31: Balance Sheet
BALANCE SHEET Balance Sheet June 2025 December 2024 Var % (Figures in thousands Euro) Intangible fixed assets 860 932 -7,7% Tangible fixed assets 12.593 13.008 -3,2% Financial fixed assets 395 395 0,0% Net fixed assets 13.848 14.335 -3,4% Inventories 20.049 16.479 21,7% Trade receivables 18.838 14.2
Slide 32: Profit & Loss
PROFIT & LOSS Profit & Loss June 2025 % (i) June 2024 % (i) Var % (Figures in thousands Euros) Revenues from sales 22.562 86,6% 21.177 85,9% 6,5% Changes in contract work in progress 2.835 10,9% 2.900 11,8% -2,3% Increases in fixed assets for internal work - 0,0% - 0,0% n/a Other revenue and income
Slide 33: Financial Debt
FINANCIAL DEBT Net Financial Debt Giugno 2025 Dicembre 2024 Var % (Figures in thousands Euros) A. Cash and cash equivalents 14.238 6.731 -12,4% B. Cash equivalents - - n/a C. Other current assets 3.701 2.197 226,2% D. Liquidity (A) + (B) + ( C ) 17.939 8.928 46,3% E. Current financial debt 2.414 1.0
Slide 34: ESF Overview & Digitalization Innovation
7. ESF ESF OVERVIEW & DIGITALIZATION INNOVATION 34
Slide 35: Innovation & Digitalization
INNOVATION & DIGITALIZATION Equipment Tracking Management Software Macchine Posaconi • App-based control panel and • Planning remote assistance • Reporting • Location of their assets • Management • Reporting generation Road Safety Cameras Hardware SkyVision Remote Connectivity GPS Logging 35
Slide 36: ESF Overview Sustainability
8. ESF ESF OVERVIEW SUSTAINABILITY 36
Slide 37: Sustainability
SUSTAINABILITY ESF IS COMMITTED TO OPERATING RESPONSIBLY, INTEGRATING SUSTAINABILITY INTO ITS BUSINESS MODEL Integration of the SDGs ESG Company goals Covered SDGs in the business model Health and safety in the workplace ------------------- Welfare and well-being of employees 12 of the 17 SDGs were
Slide 38: Governance
GOVERNANCE Edil San Felice’s core values—integrity, honesty, and respect—have enabled the company to develop diverse expertise across the sectors in which it operates. The company’s primary goal is to uphold high professional standards, fully aligned with its commitment to safety, ethics, quality, a
Slide 39: ESF Academy
ESF ACADEMY Training Training for new recruits and trainees 40 Ore di Formazione • Convenzione di Tirocinio di formazione con per inserimento l’università degli studi di Napoli Parthenope 1 Neo-assunto al • In sede:Attività di formazione specifica sulla massimo per ogni sicurezza Team • In cantiere:
Slide 40: Appendix
7. APPENDIX ar Foard
Slide 41: Question & Answer
QUESTION & ANSWER CONTACTS Via On.le Davide Barba S.C. 80035 - Nola (NA) +39 081 213 86 info@edilsanfelice.it ir@edilsanfelice.it