Slide 1: 2019.Q1 Results Presentation
Stringing Energy Automation Integrated Solutions Provider Railway Trencher 2019.Q1 Results Presentation www.tesmec.com 6th May 2019
Slide 2: Index
Index > Corporate Strategy > 2019.Q1 Results > 2019 Outlook 6th May 2019 2
Slide 3: Integrated Solutions Provider for Energy and Data transport
Integrated Solutions Provider for Energy and Data transport VISION MISSION > To be a > To operate in the technological market of partner in a infrastructure for the changing world transport of energy, data and material (oil and derivatives, gas, ENERGY AND water). DATA TRANSPORT VALUE STRATEGY PROPO
Slide 4: Business Units
4 Business Units STRINGING ENERGY ENERGY AUTOMATION > Overhead power lines > Telecommunications solutions for construction & maintenance HV Grids > Advanced methodologies for > Grid Management: protection and powerlines improvement PLATFORMS metering solutions > Zero emissions underground FOR > Adva
Slide 5: Index
Index > Corporate Strategy > 2019.Q1 Results > 2019 Outlook 6th May 2019 5
Slide 6: BAUMA exhibition (8-14 April 2019)
BAUMA exhibition (8-14 April 2019) KEY MESSAGES ▪ INTEGRATED solutions Complete offer package combining internal and partner’s solutions ▪ DIGITAL & CONNECTED systems Fully connected machines – digital platforms for the highest SAFETY ▪ CLEAN & FAST working methodologies Integrated systems & technol
Slide 7: Energy Stringing business highlights
2019.Q1 Energy Stringing business highlights POWERLINES MAINTENANCE: ADVANCED WORKING LAUNCH OF THE BRAND NEW FULL ELECTRIC MACHINE METHODOLOGIES • Design and development of a revolutionary machine for • Focus on new methodology for reconductoring in order to underground cable laying in urban area:
Slide 8: Energy Automation business highlights
2019.Q1 Energy Automation business highlights PUSH ON HIGH QUALITY PRODUCTS TO PROVIDE AND ACCELERATING INTERNATIONAL GROWTH ENHANCE GRID RELIABILITY AND STABILITY • ENEL MARKET: • RUSSIA: - Homologation of new protection solutions - Market Consolidation through product awareness - Supply of MV smar
Slide 9: Trencher business highlights
2019.Q1 Trencher business highlights RELEVANT OPPORTUNITIES IN GROWING BUSINESS FOCUS ON DIGITAL AND SUSTAINABLE WORKING SECTORS – 5G PROCESSES • Business model as service provider and proposal of the • RH as a competitive surface mining smart solution: innovative “clean & fast” methodology ✓ High p
Slide 10: Railway business highlights
2019.Q1 Railway business highlights METHODOLOGY FOR SAFE & FAST CATENARY SOLUTIONS TO ASSURE RAILWAY INFRASTRUCTURES MAINTENANCE OPERATIONS RELIABILITY • Approved solution (convoy of 4 vehicles with remote • Specialized vehicles equipped with diagnostic devices and control) for replacement of the co
Slide 11: 2019.Q1 Closing
2019.Q1 Closing GROUP (€ mln) 2019.Q1 2018.Q1 Delta % REVENUES 49,8 46,7 6,6% (1) (1) + 4,5% at constant currencies EBITDA ante IFRS 16 (2) 4,9 6,1 -19,3% % on Revenues 9,8% 13,0% (2) The EBITDA has not yet impacted by the full effectiveness of the positive management EBITDA post IFRS 16 (3) 5,7 6,1
Slide 12: 2019.Q1 Closing by segment
2019.Q1 Closing ENERGY 2019.Q1 2018.Q1 Delta % Revenues 10,3 9,2 11,8% EBITDA ante IFRS16 1,0 1,2 -17,4% > Energy Automation Growth % on Revenues 9,8% 13,3% > European Market Driven EBITDA post IFRS 16 1,2 1,2 1,5% % on Revenues 12,1% 13,3% TRENCHERS 2019.Q1 2018.Q1 Delta % Revenues 31,0 33,4 -7,2%
Slide 13: Revenues: sales spread over different geographical area
2019.Q1 Revenues: sales spread over different geographical area INTERNATIONAL SCALE AND EXPOSURE TO GROWING ECONOMIES JOINT WITH A GROWING IMPORTANCE OF THE ITALIAN MARKET 2019.Q1 2018.Q1 22% 22% 15% 27% 12% 14% 21% 14% 18% 3% 28% 4% ITALY: impact of railway business & automation Italy Europe Middle
Slide 14: Differences in Exchange
2019.Q1 Differences in Exchange Euro mln DIFFERENCES IN EXCHANGE 2 1 0,7 0 -1 (0,7) -2 2018.Q1 2019.Q1 GROUP (Euro mln) 2019.Q1 2018.Q1 Differences in Exchange 0,7 (0,7) of which: Realised 0,1 (0,1) Unrealised 0,6 (0,6) Differences in Exchange for currency: USD 0,2 (0,5) AUD 0,1 (0,1) OTHER 0,4 (0,1
Slide 15: EBITDA
2019.Q1 EBITDA € mln 10,0 7,5 0,0 (1,1) 0,8 6,1 5,7* 5,0 2,5 0,0 EBITDA Energy Trencher Railway EBITDA 2018.Q1 2019.Q1 * The impact of IFRS 16 is around 0,8 M€ The EBITDA is impacted by the results of the TRS segment, which has not 2018.Q1 yet positively impacted by the actions in place from last qu
Slide 16: Financial Results
2019.Q1 Financial Results Financial Information (€ mln) 2019.Q1 2018 Net Working Capital 64,4 48,9 Non Current assets 67,8 67,3 Right of use - IFRS 16 19,8 0,0 Other Long Term assets/liabilities 5,2 4,8 Net Invested Capital 157,2 121,0 Net Financial Indebtness 92,6 77,7 Lease liability - IFRS 16 19,
Slide 17: Working Capital evolution
Working Capital evolution € mln 80 70 4,7 3,0 (2,0) 64,4 7,2 60 2,6 50 48,9 40 30 20 10 0 2018 Inventories WIP Trade Trade Other current 2019.Q1 Net Working Receivables Payables ass. / liab. Net Working capital capital Days Days € Mln 2019.Q1 2018 2019.Q1 2018 Trade Receivables 57,3 52,6 96 97 Inven
Slide 18: Net Financial Position Evolution
Net Financial Position Evolution OPERATING NET FINANCIAL POSITION € mln 140 19,8 0,9 112,5 120 100 15,5 3,6 77,7 (5,0) 80 60 40 20 0 NFP OFCF NWC Capex Right of Use* Int.exp. NFP FY 2018 Net 2019.Q1 * Impacted of IFRS 16 Cash-Flow impacted by the NWC related to Railways and Trencher and 2018 the int
Slide 19: Net Financial Position Evolution
Net Financial Position Evolution OPERATING NET FINANCIAL POSITION € mln 140 120 112,5* 96,7 96,9 98,7 92,9 100 91,5 93,5 92,1 85,2 77,7 92,6 80 60 40 20 0 2016 1Q 2017 1H 2017 9M 2017 2017 1Q 2018 1H 2018 9M 2018 2018 1Q 2019 * From 1st January 2019, the new IFRS 16 has been introduced, the impact i
Slide 20: Index
Index > Corporate Strategy > 2019.Q1 Results > 2019 Outlook 6th May 2019 20
Slide 21: 2019 outlook
2019 outlook MACRO MARKET + - TRENDS New world technology Economy is slowing xxx Telecom – 5G China – USA → commercial Energy transition Middle East, Iran → embargo Mines – new methodology ENERGY > New products launching > Important development on digital grids with cyber-security needs > Integrated
Slide 22: Backlog
BACKLOG Euro/mln BACKLOG 31/12/2018 Sales Q1 2019 In take Q4 31/03/2019 26,0 28,0 10,3 12,3 Energy 62,0 68,0 Trencher 31,0 37,0 112,0 103,5 8,5 Railway 0,0 200,0 199,5 Total 49,8 49,3 6th May 2019 22
Slide 23: Summary 2019.Q1 Profit & Loss statement - Appendix A
Summary 2019.Q1 Profit & Loss statement - Appendix A Delta vs Profit & Loss Account (Euro mln) 2019.Q1 2018.Q1 Delta % 2018 Net Revenues 49,8 46,7 3,1 6,6% Raw materials costs (-) (23,5) (19,8) (3,6) 18,2% Cost for services (-) (8,1) (6,9) (1,2) 16,6% Personnel Costs (-) (13,0) (11,5) (1,5) 12,9% Ot
Slide 24: Summary 2019.Q1 Balance Sheet - Appendix B
Summary 2019.Q1 Balance Sheet - Appendix B Balance Sheet (€ mln) 2019.Q1 2018 Inventory 83,4 73,6 Accounts receivable 57,3 52,6 Accounts payable (-) (51,3) (54,4) Op. working capital 89,3 71,8 Other current assets (liabilities) (24,9) (22,9) Net working capital 64,4 48,9 Tangible assets 45,9 45,3 In
Slide 25: Disclaimer
Disclaimer The Manager responsible for preparing the company’s financial reports, Gianluca Casiraghi, 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
Slide 26: www.tesmec.com
TESMEC www.tesmec.com 6th May 2019 |