Slide 1: Partner in a changing world
BOARD OF DIRECTORS 12.3.2015 Partner in a changing world
Slide 2: Solutions partner for your world
Tesmec focus on strategic markets for the growth and modernization of every country. Solutions partner for your world Tesmec designs, manufactures and sells products, technologies and integrated solutions for the construction, maintenance and efficiency of infrastructures related to the transport an
Slide 3: Main highlights update: Energy
STRINGING EQUIPMENT Global Leadership Main highlights update ENERGY AUTOMATION Italy, South America, USA, ENERGY Russia + CIS, Turkey EXECUTION OF BIG ORDER IN BRAZIL FOR OVERHEAD POWER LINES STRATEGIC COLLABORATION WITH MAIN POWER COMPANIES AND UTILITIES FOR AUTOMATION PROJECTS IN ITALY AND LATIN A
Slide 4: Energy main projects
5 1 4 3 2 6 7 8 2 3 1 Reconductoring Top efficiency In altitude 1 USA 2 BRAZIL 3 PERU 4 Fjord NORWAY crossing 1 Fault BRAZIL passage indicators NHPL Texas jobsite 500 kV line, 6 T&D lines 500 kV line at 1000 mt a.s.l., Special machines for fjord Fault detectors for MV lines Live line reconductoring
Slide 5: Focus on Brazil project
Focus on Brazil project Tesmec proposal includes not only the supply of equipment but also technical consultancy on the use of equipment and the management of the jobsite. Thanks to this advice, there is an increase of up to 40% in the efficiency of the jobsite operations. Project: 5.416 km of 500
Slide 6: Main highlights update: Railway
RAILWAY EQUIPMENT Italy, North Europa, USA, Russia, China Main highlights update RAILWAY DEVELOPMENT OF EFFICIENT MAINTENANCE METHOD OF RAILWAY LINES, ESPECIALLY FOR THE NATIONAL NETWORK COMPLETION OF THE ORDER TO THE US NATIONAL RAILROAD PASSENGER CORPORATION (AMTRAK) TOP PERFORMING SNOW REMOVAL MA
Slide 7: Railway main projects
2 3 4 5 6 1 7 8 Eagle P3 Project Huge, top performing unit TGV High level maintenance 1 USA 2 USA 3 FRANCE 4 ITALY Constant Tension Stringing Unit Special-purpose equipment for TGV high speed railway Multipurpose machines (APV), for a very fast rail wire installation stringing and recovering wires.
Slide 8: Main highlights update: Trenchers
TRENCHERS North America, Middle East, Main highlights update South Equatorial Africa, France TRENCHERS SALES RECOVERY IN THE MIDDLE EAST AREA POSITIVE PERFORMANCE IN NORTH AMERICA BIG INFRASTRUCTURE PROJECT (eg RIYADH METRO, CHILE PIPELINE..) ON GOING INVESTMENT IN DIGITALIZATION PROCESS - SMART TRE
Slide 9: Trenchers main projects
1 7 2 6 3 4 8 10 9 5 11 Permafrost cutting Hard rock trenching Agricultural drainage Gas Pipeline Desert Pipeline 1 CANADA 2 USA 3 USA 4 MEXICO 5 CHILE 675 miles natural gas pipeline Granite, quarz and massive Fully automatic guidance system 382 km 36” gas pipeline Double parallel water pipeline dep
Slide 10: Focus on Riyadh Metro Station
TESMEC expertise has been chosen for the main infrastructural projects worldwide Focus on Riyadh Metro Station Project: rock excavation activities for Metro Station construction Supply: TESMEC 1475 Rock Hawg Location: Riyadh - Kingdom of Saudi Arabia Contractor: BACS consortium (Bechtel, Alm
Slide 11: Strategic Innovation
Strategic Innovation The development of better or more effective technologies, processes PRODUCTS SUPPLIER VALUE ADDED SOLUTIONS PROVIDER and products is a priority Equipment, machines, tools and Intelligence, specialists’ competences, for everyone in Tesmec. technical services expertise, technologi
Slide 12: 2014 Economic Results
2014 Economic Results GROUP 2014 2013 Delta % GROUP Q42014 Q42013 Delta% Revenues 33.9 28.5 19% Revenues 114.9 113.5 1.2% EBITDA 5.8 3.6 61% % on Revenues 17% 13% EBITDA 18.3 19.5 -6% STRINGING 2014 2013 Delta % Q42014 Q42013 Delta% % on Revenues 16% 17% Revenues 50.1 52.1 -4% 16.4 10.9 50% EBITDA 9
Slide 13: Foreign subsidiaries
Foreign subsidiaries TESMEC RUS (100%) Revenue 1 million € (-74% vs PY) In the second part of 2014 the company suffered JV CONDUX-TESMEC (50%) the difficult economic situation of the Russia market Revenue 11 million € (-20% vs PY) * * JV TESMEC PENINSULA (49%) Revenue 11 million € (+ 144% vs PY) TES
Slide 14: EBITDA 2014
EBITDA 2014 30 24 1.3 0.9 0.5 0.7 18 (1,3) (3,3) 12 19.5 18.3 6 0 EBITDA Revenues Raw Cost for Personnel Equity Capitalized EBITDA 2013 materials Services Costs Investments R&D 2014 and other Expenses costs Lower than proportional revenues generation with 2013 2014 respect to cost increase 14
Slide 15: Net Profit 2014
NET PROFIT 2014 8 4,0 (1,5) (0,8) 4 4.4 (1,2) 4.9 0 Net EBITDA Forex Financial Taxes Depr. Net Income Charges & & Income 2013 Derivatives Amort. 2014 Increase in Net Income primarily due to positive 2013 2014 currency rates 15
Slide 16: 2014 Financial Results
2014 Financial Results Financial Information (Euro mln) 2014 Net Working Capital 57.9 Non Current assets 65.3 Other Long Term assets/liabilities (1,7) Net Invested Capital 121.5 Net Financial Indebtness 73.4 Equity 48.1 Total Sources of Financing 121.5 16
Slide 17: Working Capital Evolution
Working Capital Evolution Working Capital Evolution 75 09 04 02 03 50 8,7 58 25 53 0 2013 Inventories WIP Trade Trade Other current 2014 Net Working Receivables Payables ass. / liab. Net Working capital capital Days Days Euro Mln 2014 2013 2014 2013 2014 Trade Receivables 41.3 43.2 129 137 Net Worki
Slide 18: Net Financial Position Evolution
Net Financial Position Evolution Operating Net Financial Position without figurative debt 70 for Grassobbio premises ias 17 60 ias 17 18,9 73,4 20,1 2,3 3,9 50 0,7 6,3 54,5 1,7 40 20,2 10,9 30 48,9 48,9 20 10 0 NFP Operating OFCF NWC Dividend Inv. Other Int.exp. Taxes Operating Capex NFP FY 2013 NFP
Slide 19: Exchange exposure 2014
Exchange exposure 2014 MARGIN EFFECT 2015 2014 2013 AVERAGE EUR/USD EX. RATE 1,329 1,328 FX NET ASSETS 2015 2014 2013 year end rate Eur/Usd 1,214 1,379 FX Gain/(Loss) mm/euro 2,8 -1,2 CONSOLIDATION PROCESS 2015 2014 2013 year end rate Eur/Usd 1,214 1,379 Net Equity change (mm/euro) 3,6 -1,1 19
Slide 20: Order Book 2014
STRINGING Order Book 2014 € mln 80,7 50,1 TRENCHERS 45,2 45 € mln 51,3 52,8 30 40 14,6 15 28,4 27 0 20 Order 2014 Order Order book Revenues Intake book FY 2013 FY 2014 0 Order book 2014 Order Order book FY2013 Revenues Intake FY2014 RAILWAY € mln 15 Backlog Trend 11,9 12,0 100 27 10 80 62.1 52.7 58
Slide 21: Outlook 2015
Outlook 2015 STRENGTHS & OPPORTUNITIES EFFECT OF EUR / USD EXCHANGE RATE THAT POSITIVELY CONTRIBUTES, IN PARTICULAR TO THE MARGINALITY OF TRENCHER SECTOR BACKLOG STRONG POSITION IN THE ENERGY MARKET AND POSITIVE IMPACT OF THE NEW BUSINESSES - ENERGY AUTOMATION AND RAIL THREATS DIFFICULT MACROECONOMI
Slide 22: Summary 2014 Profit & Loss statement
Summary 2014 Profit & Loss statement Delta vs Profit & Loss Account (€ mln) 2014 2013 Delta % 2013 Net Revenues 114.9 113.5 1.4 1.2% Raw materials costs (-) (55.5) (54.8) (0.7) 1% Cost for services (-) (19.0) (19.9) 0.9 -5% Personnel Costs (-) (26.1) (22.7) (3.4) 15% Other operating revenues/costs (
Slide 23: Summary 2014 Balance Sheet
Summary 2014 Balance Sheet Balance Sheet (€ mln) 2014 2013 Inventory 60,6 48,1 Accounts receivable 41,3 43,2 Accounts payable (-) (34,2) (25,5) Op. working capital 67,7 65,8 Other current assets (liabilities) (9,8) (13,1) Net working capital 57,9 52,7 Tangible assets 48,1 43,2 Intangible assets 12,4
Slide 24: Disclaimer
Disclaimer The Manager responsible for preparing the company’s financial reports, Andrea Bramani, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this presentation corresponds to the document results, books and acc