Edil San Felice S.p.a. · MIL:ESF
Edil San Felice — Edil San Felice S.p.A. S.B. — Mid&Small Paris 2025
46 slides from Edil San Felice's conference presentation, May 20, 2025
Slide 1: Investor Presentation Mid&Small Paris
INVESTOR PRESENTATION MID&SMALL PARIS May 20, 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 Business Overview Model
1. ESF BUSINESS OVERVIEWMODEL 4
Slide 5: 2024 Highlights
2024 HIGHLIGHTS 223 EcoVadis 315 +40 employees Vehicles Scorecard years of history vs. 239 vs. 150 +76 compared to 2023 +73 compared to 2023 16 16 +51 Mn 136,1 Mn certifications SOA categories Value of production Backlog vs. euro 45.8 million vs. euro 81.5 million in the previous year in 2023 (+12.7
Slide 6: Corporate Structure
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 Indepe
Slide 7: A 40+ History of Growth and Diversification
A 40+ HISTORY OF GROWTH AND DIVERSIFICATION 2 SITES ESF lands on Euronext Growth Milan on +1 in progress 27 September 2023, first day of trading on the Euronext Growth Milan market. Bologna The San Felice cooperative is born Lorenzo Francesco Di Palma founded 45,8 51,6 the San Felice cooperative in
Slide 8: Who We Are
WHO WE ARE VISION WE ARE SPECIALIZED IN: Edil San Felice provides maintenance services Road Maintenance of highways, primarily to highways and airports (substitution of safety To be a national leader maintenance bridges, viaducts, airport, etc.. barriers, road signs, damage repairs, etc.), improving
Slide 9: Who We Are
WHO WE ARE 2. CIVIL AND 1. ORDINARY 6. PUNCTUAL As part of the project to strengthen its organisational INDUSTRIAL 3. GREAT WORKS 4. SERVICES 5. INSTALLATIONS MAINTENANCE WORKS CONTRUCTIONS and managerial structure, the Company established two new Business Units: Green works Building Art Works Insta
Slide 10: What We Do
WHAT WE DO Edil San Felice provides a complete offer of infrastructure services of Ordinary and Extraordinary Maintenance works primarily for highways (like supply and installation of safety barriers and road signs) but also for other infrastructures (e.g. Airports). While the ordinary maintenance g
Slide 11: 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 12: Our Main Project: San Domenico Viaduct
OUR MAIN PROJECT SAN DOMENICO VIADUCT Seismic upgrading of the viaduct and structural strengthening works. Client Amplia Tangenziale di Napoli A56 Value € 8 mn Start Oct 2024 Duration 23 months 12
Slide 13: 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 months 13
Slide 14: Our Main Project: Grazing Lightning 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 6 months CONTROL ROOM Construction of the ASPI general management Control Room Client Movyon Tangenziale di Napoli A56 Valu
Slide 15: 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 months 15
Slide 16: 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 months URGENCY WORKS Urgent restoration and securing of the roads Client ASPI DT3 Bologna Value € 5 mn Start Dec 2023 Duration t.b.d.
Slide 17: ESF Sector & Market Highlights
2. ESF SECTOR & MARKET HIGHLIGHTS 17
Slide 18: 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 19: 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 20: ESF Competitive Positioning
3. ESF COMPETITIVE POSITIONING 20
Slide 21: Competitive Positioning
COMPETITIVE POSITIONING A comparison with others in the industry… (1) Source: Equity Research Team’s Analyst by Alantra Capital Market 21
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
4. ESF OVERVIEW 23
Slide 24: Edil San Felice in a Snapshot
EDIL SAN FELICE IN A SNAPSHOT Total Backlog New orders Revenues EBITDA Net Income €136.1mn (1) €28.8mn €51.6mn €9.4mn €6.5mn vs. €81.5mn FY23 vs. €4mn vs. €45.8mn FY23 vs. €11.6mn FY23 vs. €8.5mn FY23 Hard Backlog: € 84.9mn First quarter 2025 Higher than Positive despite a Maintained positive Soft B
Slide 25: Snapshot of FY24 Results: Backlog
SNAPSHOT OF FY24 RESULTS 8 €; 6% 0,8 €; 1% Backlog (in €mn) 9.5 €; 7% N.D. ~136.1 as at 31 Dec 2024 52.1 €; 38% P01 - MOR +67% vs. 81.5 P02 - EDILIZIA FY23 33.5 €; 25% 136,1 Mn P03 - GRANDI OPERE Hard Backlog: € 84.9mn Soft Backlog: € 51.2mn (1) P04 - SERVIZI P05 - IMPIANTI 0,3 €; 0% P06 - CANTIERI
Slide 26: Snapshot of FY24 Results: Value of Production and EBITDA
SNAPSHOT OF FY24 RESULTS 51.597 € 45.802 € Value of Production (in €mn) In 2024, the Value of Production increased by 12.7% to €51.6 million, driven by steady activity 51.6 in ordinary maintenance and the launch of major +12,65% vs. 45.8 infrastructure projects in several Italian regions FY23 under
Slide 27: Vehicles / Workers
MILESTONES 2024 A growing reality for more than ten years… New site in Bologna 2021 315 First works in Emilia-Romagna and 2017 Puglia 239 Transformation of the company into a joint stock company 185 223 VEHICLES / WORKERS 2011-12 163 150 First projects outside Campania 144 144 103 €/mn 112 39 98 Val
Slide 28: Snapshot of FY24 Results: Net Debt
SNAPSHOT OF FY24 RESULTS Net Debt (in €mn) 2.8 5.092 -45,1% vs. 5.1 FY23 Cash Positive 2.820 2024 2023 Net Financial Debt (positive) for the year amounted to 2.8 million euros of net cash, compared to 5.1 million euros recorded as of December 31, 2023. This result results from the combined effect of
Slide 29: Snapshot of FY24 Results: Net Income
SNAPSHOT OF FY24 RESULTS Net Income (in €mn) 8.511 6.5 6.544 -19,85% vs. 8.11 FY23 Mainteined Positive 2024 2023 ALLOCATION OF THE ANNUAL RESULT 2024 The Board of Directors will propose to the Shareholders' Meeting to allocate the 2024 Net Profit, amounting to Euro 6,544, as follows: • Euro 5,043,83
Slide 30: ESF Overview: Key Facts
5. ESF ESF OVERVIEW KEY FACTS 30
Slide 31: Tax Credit
TAX CREDIT EDIL SAN FELICE OBTAINS A CONTRIBUTION OF OVER €5 MILLION FROM THE REGION Edil San Felice obtains a contribution of over €5 million from the region to finance the acquisition of the new industrial site in Nola and develop new growth projects. On 1 December 2023, Edil San Felice finalised
Slide 32: Tax Credit
TAX CREDIT PATENT BOX for SSR - SERENA SAFE REPORTS The 2015 Stability Law, L.190/2014, introduced an optional tax regime for income deriving from the use of copyrighted software, industrial patents, designs and models, as well as processes, formulas and information relating to experiences acquired
Slide 33: Obligation
OBLIGATION EDIL SAN FELICE ISSUES A SUSTAINABILITY-LINKED BOND WORTH EUR 4 MILLION Edil San Felice issued a sustainability-linked bond worth EUR 4 million with a duration of five years. The bond, characterised by sustainability objectives linked to specific pre-established targets, was fully subscri
Slide 34: ESF Overview: New Orders
6. ESF ESF OVERVIEW NEW ORDERS 34
Slide 35: New Orders
NEW ORDERS 2024 Regione/€ t Work Region/€ t Work Region/€ t Work Emilia- Ordinary and Liguria 2 years Extraordinary Campania Extraordinary Romagna Recurring 4 years 2 years + 2 optional Maintenance € 8 Mln Maintenance € 4 Mln Maintenance € 4 Mln Abruzzo Extraordinary 4 years Region/€ t Work € 24 Mln
Slide 36: ESF Innovation
7. ESF ESF OVERVIEW & DIGITALIZATION INNOVATION 36
Slide 37: 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 37
Slide 38: ESF Overview: Sustainability
8. ESF ESF OVERVIEW SUSTAINABILITY 38
Slide 39: 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 40: 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 41: Appendix
7. APPENDIX ar Foard 41
Slide 42: Balance Sheet
Balance Sheet (i) Net Working Capital is calculated as the sum of inventories, trade receivables, trade payables, other current assets, other current liabilities, tax receivables and payables, and net accruals and deferrals. Net Working Capital is not identified as an accounting measure by the relev
Slide 43: Profit & Loss
Profit & Loss (i) As a percentage of Production Value (ii) EBITDA is the operating result before income taxes, financial income and expenses, depreciation and amortisation of fixed assets, impairment and provisions for risks and charges. EBITDA is not identified as an accounting measure under nation
Slide 44: Financial Debt
Financial Debt (i) As a percentage of Production Value (ii) EBITDA is the operating result before income taxes, financial income and expenses, depreciation and amortisation of fixed assets, impairment and provisions for risks and charges. EBITDA is not identified as an accounting measure under natio
Slide 45: Cash-flow Statement
Cash-flow statement As at 31 December ‘Cash Flow 2024 2023 (Figures in thousands Euro) EBITDA 9.427 11.632 {nventories (77.058) (2.820) Trade receivables 5.666 (6.912) Trade payables 700 938 A of Operating Working Capital (4.692) (7.795) Other current assets 566 (458) Other current liabilities 102 1
Slide 46: Question & Answer
QUESTION & ANSWER CONTACTS Thank you for the attention! Via On.le Davide Barba S.C. 80035 - Nola (NA) +39 081 213 86 info@edilsanfelice.it ir@edilsanfelice.it