Tesmec S.p.a. · MIL:TES
Tesmec — H1 2025 Earnings Presentation
29 slides from Tesmec's earnings presentation, Aug 6, 2025
Slide 1: 1H.2025 Results
1H.2025 RESULTS Grassobbio, August 6th, 2025 1
Slide 2: 1H.2025 Results agenda
1H.2025 RESULTS TESMEC GROUP AT A GLANCE HIGHLIGHTS, GROUP FINANCIALS & KEY METRICS 2025 BUSINESS GUIDELINES ANNEX
Slide 3: Tesmec at a Glance
TESMEC AT A GLANCE TESMEC
Slide 4: Our Vision, Our Mission
OUR VISION OUR MISSION FOR THE FUTURE FOR THE PLANET COMMITTED TO ENERGY TRANSITION, DIGITALIZATION AND ELECTRIFICATION Technology partner in markets driven by energy transition, digitalization and sustainability with INNOVATIVE, ADDED-VALUE INTEGRATED SOLUTIONS for the construction, maintenance and
Slide 5: Drivers: Innovation, Diversification & Growth
STRATEGIC VALUE-ADDED SOLUTIONS AND MONITORING SYSTEMS DRIVERS DELIVERING HIGH PERFORMANCE ON COMPLEX PROJECTS INNOVATION, • Growing long-term trends in cross-cutting development drivers: DIVERSIFICATION energy transition, sustainability and digitalization • Selective approach on key growth sectors:
Slide 6: Market Drivers: Transform to Grow
IOT, BIG DATA AND ARTIFICIAL INTELLIGENCE MARKET • Combine Operational Data in the cloud and apply Advanced Analytics • DRIVERS Diagnostic and Digitalization for the Predictive Maintenance • Robotization, Connectivity and Servitization • Cyber Security and Blockchain TRANSFORM TO GROW ENERGY TRANSIT
Slide 7: Energy Ready to Unleash Energy in All Its Shades
READY ENERGY-STRINGING • Solutions for power lines ENERGY-AUTOMATION • Telecommunications solutions for HV Grids TO UNLEASH construction & maintenance • Advanced methodologies for • Grid Management: protection and metering solutions ENERGY automating jobsite • Advanced sensors for fault passage • Ze
Slide 8: Highlights, Financials & Key Metrics
1H.2025 RESULTS HIGHLIGHTS, FINANCIALS & KEY METRICS 8
Slide 9: 1H.2025 Highlights
1H.2025* HIGHLIGHTS WHAT WORKED WELL ▪ Results’ improvement compared to 1H.2024, WHERE WE ARE with positive discontinuity in NFP, despite MAKING PROGRESS unfavorable context WHAT ▪ Efficiency initiatives lowering incidence of ▪ Pre-Tax result reached a substantial breakeven, operating costs on reven
Slide 10: 1Q 2025 Highlights
1H.2025 HIGHLIGHTS 1Q 2025 HIGHLIGHTS Diagnostic vehicle TIPO 4 in the testing phase, marking a milestone in the deployment of next-generation Tesmec at Bauma 2025, Munich, Germany Tesmec at Cired 2025, in Geneve, Switzerland Tesmec host a technical forum with DSO’s in Fidenza discussing the topics
Slide 11: 1H.2025 Profit & Loss Statement
1H.2025* PROFIT&LOSS STATEMENT “1H.2024 Pro-Forma” excludes Groupe Marais discontinuing operations (after JV operation in France) PROFIT & LOSS (€M) 1H.2025 Actual 1H.2024 Pro-Forma Δ Δ% REVENUES 128,6 117,7 10,9 +9,2% ▪ REVENUES growing by ca. 9%, with improvement in EBITDA 21,2 19,4 1,8 +9,4% Ener
Slide 12: 1H.2025 Statement of Financial Position
1H.2025* STATEMENT OF FINANCIAL POSITION Jun. 30, Dec. 31, Jun. 30, Δ Jun.30, 2025 vs €M 2024 2024 2025 Dec.31,2024 KEY VARIATIONS VS. DEC. 31, 2024: Net Working Capital 112,5 99,8 93,3 (6,5) Fixed Assets 126,5 106,9 102,5 (4,4) ▪ 6,5€M decrease in NWC Other Long Term assets/liabilities 22,4 21,9 21
Slide 13: Trenchers: 1H.2025 Facts & Figures
TRENCHERS: 1H.2025* FACTS & FIGURES (€M) 100 KEY FACTS 80 ▪ USA: growth aligned with expectations, despite market uncertainties 59,5 60,2 due to political and external factors 60 ▪ West Africa: positive market trend in the mining sector has enabled organizational structuring and ongoing operations.
Slide 14: Rail: 1H.2025 Facts & Figures
RAIL: 1H.2025 FACTS & FIGURES (€M) 40 KEY FACTS ▪ Deployment of diagnostic technologies in the Italian railway 30 25,0 infrastructure market driving safety and performance improvements: 19,6 ▪ 3 diagnostic vehicles are currently operating in key 20 interconnections - Milan, Florence and Rome; ▪ Dyna
Slide 15: Energy: 1H.2025 Facts & Figures
ENERGY: 1H.2025 FACTS & FIGURES (€M) 60 KEY FACTS 50 43,4 Stringing 38,6 40 ▪ Strong order intake supported by a dedicated task force managing key opportunities. 30 ▪ Significant business prospects in strategic regions such as South Asia and the Middle East; technical challenges and new leads 20 6,5
Slide 16: 1H.2025 EBITDA Evolution by BU
1H.2025* EBITDA EVOLUTION BY BU (€M) 30 +1,4 +1,9 (1,5) 20 Stringing Higher volumes 21,2 19,4 Mix effect revenues and growth and due to favourable mix increased streamlining thanks to focus marginality planning and on higher value- 10 production added 19,7 21,2 17,8 on focused contracts fixed capita
Slide 17: 1H.2025 Net Financial Position Evolution
1H.2025* NET FINANCIAL POSITION EVOLUTION (€M) 200 150 147,0 33,8 30,7 146,4 (6,5) 6,7 3,0 (0,6) 100 113,2 115,8 50 0 Dec. 31, 2024 IFRS16 Net debt NWC OFCF CAPEX EQUITY ADJ.** Net debt IFRS16 Jun.30, 2025 31/12/2024 30/06/2025 €M Jun. 30,2025 Dec. 31,2024 Jun.30,2024 Inventories 96,8 96,1 113,6 Wor
Slide 18: 1H.2025 KPI
1H.2025* 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; Africa; 16% Europe; 18% • Non-recurring: Sales of goods Rail Middle East; 103€M
Slide 19: 2025 Business Guidelines
2025 BUSINESS _~ GUIDELINES™ TESMEC
Slide 20: 2020-2024 Equity Story and 2025 Outlook
2020-2024 EQUITY STORY and 2025* OUTLOOK (€M) 17,2% LEVERAGING STRONG CAPABILITIES IN THE FACE OF 41,1 CURRENT MACROECONOMIC CHALLENGES AND 153,5 245,2 14,5% 147 UNCERTAINTY 236 239,5 35,2 13,9% ▪ Leverage proprietary technologies developed to seize the strong 153,5 32,8 128,4 growth opportunities i
Slide 21: Business Guidelines - Trenchers
BUSINESS GUIDELINES - TRENCHERS Strengthening of the South American market due to promising Strengthening conditions in the pipeline and mining sectors, the conclusion of the South strategic deals, and the consolidation of commercial relations. American market Marketing Business development and stra
Slide 22: Business Guidelines - Rail
BUSINESS GUIDELINES - RAIL TESMEC FRANCE: Strategic platform for the growth of French activities in the railway Growth of French sector: development of a specialized center to support the Railway activities business, in France and cross the Francophone market aimed at meeting local needs for railway
Slide 23: Business Guidelines - Energy
BUSINESS GUIDELINES - ENERGY STRINGING AUTOMATION Continue leading the growth and extend the Growth at a fast pace while improving market share, we will implement strategic diversification, exploiting our current portfolio initiatives and innovative solutions. Profitability Digitalization and addres
Slide 24: 1H.2025 Annex
1H.2025 ANNEX TESMEC 24
Slide 25: Annex: 1H.2025 Summary Profit & Loss Statement
ANNEX: 1H.2025* SUMMARY PROFIT & LOSS STATEMENT PROFIT & LOSS (€ Mln) 1H.2025 1H.2024 PRO-FORMA NET REVENUES 128,6 117,7 Raw materials costs (-) (58,3) (53,9) Cost for services (-) (23,8) (20,3) Personnel Costs (-) (27,3) (26,8) Other operating revenues/costs (+/-) (3,4) (2,7) Non recurring revenues
Slide 26: Annex: 1H.2025 Balance Sheet
ANNEX: 1H.2025* BALANCE SHEET BALANCE SHEET (€ Mln) Jun. 30, 2025 Dec.31, 2024 Inventory 96,8 96,1 Work in progress contracts 44,3 36,7 Accounts receivable 56,0 55,4 Accounts payable (-) (93,8) (79,9) Op. working capital 103,3 108,4 Other current assets (liabilities) (10,0) (8,6) Net working capital
Slide 27: 1H.2025 Results Conference Call
1H.2025 RESULTS CONFERENCE CALL Wednesday 6th August, 2025: 2.30 PM CET Diamond Pass Registration ir@tesmec.com Investors | Tesmec 2025 FINANCIAL CALENDAR • Friday, 7th November 2025: approval of the Company’s Quarterly Report as of 30th September 2025 27 1H.2025 RESULTS
Slide 28: 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
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