Slide 1: Partner in a changing world
BOARD OF DIRECTORS 14.03.2016 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: Energy segment
Energy segment Equipment for FROM new power lines construction Integrated systems for TO maintenance of existing power lines and management and monitoring of grids Safety RECONDUCTORING operations: solutions to maintain the transmission Reliability efficiency over time or to increase the capacity of
Slide 4: Solution for HV-MV-LV lines
Solution for HV-MV-LV lines Reconductoring Digital Power Line Carrier Smart Metering Tool Line refurbishment: solutions for Innovative terminal for data Innovative system specifically designed renewing the old conductor avoiding transmission over High Voltage power for the measurement of energy and
Slide 5: Railway segment
Railway segment FROM Traditional rail vehicles Advanced railcars TO able to perform without line interruption AUTOMATIC TRAIN CONTROL SYSTEM : designed to provide enhanced levels of rail safety through continuous train control and protection Safety ADVANCED COMMUNICATION INTERFACE : special system t
Slide 6: Top technological units
Top technological units Multipurpose unit for catenary installation and maintenance especially designed for high speed railway lines with particular focus on operating efficiency, safety matters and low emission. EN14033 certified
Slide 7: Underground segment
Underground segment FROM Supplier of equipment Complete package of solutions TO (advanced equipment + complementary services) to offer value added solutions to the customers SPECIALISTS AND DEEP EXPERTISE to efficiently manage the jobsite Experience increasing performances and reducing risks HIGH TE
Slide 8: Solutions for different applications
Solutions for different applications TELECOM Fiber optic laying - Germany Wind farm - Australia (fiber optic cable laying., FTTH and long distance..) ENERGY (underground energy cable, wind farm...) HEAVY CIVILS New Orbital Highway - Qatar Water pipeline - Chile (construction, bulk excavation..) PIPE
Slide 9: R&D - Innovation platform
R&D - Innovation platform R&D strategy is developed through an OPEN INNOVATION approach Growth through Innovation platform TECHNOLOGICAL DISCONTINUITY Integrated platform aimed at CONNECTIVITY, SMART SOLUTIONS and GREEN- SUSTAINABLE TECHNOLOGIES 9
Slide 10: 2015 Economic and financial data
2015 Economic and financial data
Slide 11: 2015 Economic Results
2015 Economic Results GROUP 2015 2014 Delta % Revenues 164,4 114,9 43,1% ENERGY 2015 2014 Delta % EBITDA 24,0 18,3 31,1% Revenues 72,1 50,1 43,9% % on Revenues 15% 16% EBITDA 11,4 9,5 20% EBIT 12,8 10,5 21,9% % on Revenues 15,8% 19,0% % on Revenues 8% 9% TRENCHERS 2015 2014 Delta % Profit Before Tax
Slide 12: Revenues
Revenues 2014 2015 INTERNATIONAL SCALE AND EXPOSURE TO GROWING ECONOMIES 12% 7% 20% 31% Italy 18% Europe 34% Middle East 13% BRICs and Oceania Africa 5% 16% 11% North-Central America 17% 15% 12
Slide 13: EBITDA 2015
EBITDA 2015 70 49,5 60 50 40 (27,3) 30 (8,3) 1,8 20 (8,4) (1,0) (0,5) 24,0 10 18,3 0 EBITDA Revenues Raw Cost for Personnel Equity Capitalized Other EBITDA 2014 materials & Services Costs Investments R&D operating 2015 other costs Expenses cost/revenues EBITDA improvement mainly thanks to volumes 20
Slide 14: 2015 Financial Results
2015 Financial Results Financial Information (Euro mln) 2015 2014 Net Working Capital 63,5 57,9 Non Current assets 83,9 65,3 Other Long Term assets/liabilities (1,7) (1,7) Net Invested Capital 145,7 121,5 Net Financial Indebtness 89,9 73,4 Equity 55,8 48,1 Total Sources of Financing 145,7 121,5 14
Slide 15: Working Capital Evolution
Working Capital Evolution Working Capital Evolution 75 (4,9) 9,6 3,5 (1,3) (1,3) 50 63,5 57,9 25 0 2014 Inventories WIP Trade Trade Other current 2015 Net Working Receivables Payables ass. / liab. Net Working capital capital Days Days Euro Mln 2015 2014 2015 2014 Trade Receivables 50,9 41,3 111 129
Slide 16: Net Financial Position Evolution
Net Financial Position Evolution 90 Operating Net Financial Position without figurative debt 80 for Grassobbio premises ias 17 18,9 3,7 1,9 70 4,2 89,9 ias 17 60 20,1 72,1 2,3 13,6 50 10,1 2,0 40 30 54,5 54,5 20 10 0 NFP Operating OFCF NWC Dividend Marais Other Int.exp. Taxes Operating Capex NFP FY
Slide 17: Exchange exposure 2015
Exchange exposure 2015 MARGIN EFFECT 2015 2014 2013 AVERAGE EUR/USD EX. RATE 1,11 1,329 1,328 FX NET ASSETS 2015 2014 2013 year end rate Eur/Usd 1,089 1,214 1,379 FX Gain/(Loss) mm/euro 1,7 2,8 -1,2 CONSOLIDATION PROCESS 2015 2014 2013 year end rate Eur/Usd 1,089 1,214 1,379 Net Equity change (mm/eu
Slide 18: Order Book 2015
Order Book 2015 ENERGY € mln 72,1 60 45,2 44,7 TRENCHERS 45 € mln 30 120 17,8 107,1 100 15 88,4 80 0 60 45,7 Order 2015 Order Order book Revenues Intake book 40 FY 2014 FY 2015 27,0 20 0 RAILWAY Order book 2015 Order Order book FY2014 Revenues Intake FY2015 € mln 15 10 17,8 7,7 5,9 5,6 71.2 5 3,8 45
Slide 19: Outlook 2016
Outlook 2016 OPPORTUNITIES INCREASING DEMAND OF MODERNIZATION OF POWER GRIDS WORLDWIDE PROJECTS OF GRIDS INTERCONNECTION AND INTEGRATION OF RENEWABLE ENERGIES IN THE NETWORKS GROWING OPPORTUNITIES IN THE TELECOM AND FIBER OPTIC MARKET BOTH FTTH AND LONG DISTANCE THREATS GROWING PRESSURE ON ENVIRONME
Slide 20: Summary 2015 Profit & Loss statement
Summary 2015 Profit & Loss statement Delta vs Profit & Loss Account (€ mln) 2015 2014 Delta % 2014 Net Revenues 164,4 114,9 49,5 43,1% Raw materials costs (-) (82,8) (55,5) (27,3) 49% Cost for services (-) (27,3) (19,0) (8,3) 44% Personnel Costs (-) (34,5) (26,1) (8,4) 32% Other operating revenues/c
Slide 21: Summary 2015 Balance Sheet
Summary 2015 Balance Sheet Balance Sheet (€ mln) 2015 2014 Inventory 62,7 60,6 Accounts receivable 50,9 41,3 Accounts payable (-) (39,0) (34,2) Op. working capital 74,6 67,7 Other current assets (liabilities) (11,1) (9,8) Net working capital 63,5 57,9 Tangible assets 65,3 48,1 Intangible assets 13,8
Slide 22: 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