Somec S.p.a. · MIL:SOM
Somec — Investor Presentation (June 2026)
41 slides from Somec's investor presentation, June 2026
Slide 1: Company Presentation
GRUPI COMPANY PRESENTATION
Slide 2: Company Overview, FY 2025 Results, Q&A, Annex
COMPANY OVERVIEW FY 2025 RESULTS Q&A ANNEX
Slide 3: Somec Group, world leading expert in complex turnkey projects
SOMEC GROUP, WORLD LEADING EXPERT IN THE CONSTRUCTION OF COMPLEX TURNKEY PROJECTS IN BOTH CIVIL AND NAVAL SECTORS 3
Slide 4: Innovation-driven work culture
INNOVATION-DRIVEN WORK CULTURE MISSION Be a credible and reliable partner of excellence VISION To become the hub of Italian construction quality VALUES The freedom enjoyed by each individual, engineers, specialists and craftsmen, constantly searching for innovative solutions and processes 4
Slide 5: From local company to international group
FROM LOCAL COMPANY TO INTERNATIONAL GROUP 1978 1993 2005 Year of foundation Somec enters the The company adds another marine glazing business challenging business: the marine refitting 2013 2016-17 2018 Oscar Marchetto acquires With the acquisitions of Oxin Listing on the Italian stock the majority
Slide 6: 3 Divisions of the Group
3 DIVISIONS OF THE GROUP * ** * A brand of GICO / ** A brand of Pizza Group 6
Slide 7: Horizons: engineered systems of naval architecture and building façades
HORIZONS ENGINEERED SYSTEMS OF NAVAL ARCHITECTURE AND BUILDING FAÇADES Marine glazing newbuilding Horizons companies are recognised as major players in North America and Europe when it comes to the design, engineering, production, installation and maintenance of complex and innovative construction s
Slide 8: Marine glazing projects for cruise ships
MEIN SCHIFF 7 ILMA ICON OF T HE SEAS Tui Cruises The Ritz Carlton Royal Caribbean ST AR OF T HE SEAS NORWEGIAN PRIMA Royal Caribbean Norwegian Cruise Line 8
Slide 9: Marine glazing projects for cruise ships
SUN PRINCESS DISNEY T REASURE Princess Cruises Disney Cruise Line MSC MERAVIGLIA CELEBRIT Y APEX MSC Crociere Celebrity Cruises 9
Slide 10: Architectural envelope projects
UMASS MEDICAL SCHOOL Worcester, MA - USA SVEN Long Island City, NY - USA 10
Slide 11: Talenta: professional kitchen systems and products
TALENTA PROFESSIONAL KITCHEN SYSTEMS AND PRODUCTS Marine catering At Talenta, we produce bespoke integrated systems equipment for professional kitchens in the naval and civil sectors, seamlessly blend aesthetics with high performance. Turnkey projects tailored for the catering and hospitality indust
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Slide 14: J EZ
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Slide 15: Mestieri: design and production of bespoke interiors
MESTIERI DESIGN AND PRODUCTION OF BESPOKE INTERIORS Marine complex Mestieri is a group of Italian excellences dedicated projects management to the bespoke creation of high-end interiors and architectural elements, for land-based and marine applications. It combines engineering and project management
Slide 16: Mestieri projects
MUSÉE DE LA MARINE PRINT EMPS Paris - France New York- USA T IFFANY St ut t g art - Ger many DUO MILAN HOT EL Milan - Italy 16
Slide 17: Sheikh Zayed Grand Mosque Center
SHEIKH ZAYED GRAND MOSQUE CENT ER Abu Dhabi - UAE 17
Slide 18: Mestieri marine interior projects
SEVEN SEAS SPLENDOR Regent Seven Seas Cruises NORWEGIAN PRIMA Norwegian Cruise Line SUN PRINCESS NORWEGIAN VIVA 18 Princess Cruises Norwegian Cruise Line
Slide 19: Focus on marine & cruise industry
FOCUS ON MARINE & CRUISE INDUSTRY 37 MILLION PASSENGERS GROWTH DRIVERS GLOBALLY IN 2025 PASSENGER GROWTH & PREMIUM DEMAND Rising number of cruise passengers combined with strong momentum in premium/luxury segments +41.8% TEN YRS → increasing demand for higher-quality onboard experiences [CAGR 3.6%]
Slide 20: Market outlook
MARKET OUTLOOK Impact across the divisions GEOPOLITICAL TENSION CRUISE INDUSTRY HOSPITALITY Subsequent to the close of the financial year, The cruise industry outlook remains broadly The luxury hospitality and interiors market the international geopolitical context was characterized positive, suppor
Slide 21: Developing, preserving and passing on the Italian know-how
DEVELOPING, PRESERVING AND PASSING ON THE ITALIAN KNOW-HOW Somec Group was set up and developed as a local business based on the skilled hands of expert craftsmen. As it has expanded, it has always recognised the priceless value of Italian expertise, which is precise when it comes down to fine detai
Slide 22: Building a better future every day
BUILDING A BETTER FUTURE EVERY DAY Somec Group embraces responsibility. In a time where technology enables high-performance and sustainable solutions, we ensure full accountability for our environmental footprint. Since 2021, Somec Group has been publishing its Sustainability Report - Consolidated N
Slide 23: Company Overview, FY 2025 Results, Q&A, Annex
COMPANY OVERVIEW FY 2025 RESULTS Q&A ANNEX
Slide 24: FY 2025 results highlights
FY 2025 RESULTS HIGHLIGHTS I N D I C AT O R FY 2024 RESULT FY 2025 RESULT YoY V S T AR G E T (-3.3 %) TOTAL REVENUES 382.3 €M 370.0 €M -2.1 % Constant forex EBITDA ADJUSTED 30.1 €M 34.3 €M +14 % EBITDA MARGIN ADJUSTED 7.9 % 9.3 % +140 BPS STRONG NET RESULT -0.5 €M 7.1 €M RESULT ACCELERATED NET FINAN
Slide 25: Total revenues
TOTAL REVENUES TOTAL REVENUES TOTAL REVENUES BREAKDOWN BY GEOGRAPHY €M % ON TOTAL -2.1% YoY ROW ROW 7.4% 6.4% 4.8 CONSTANT FOREX NORTH NORTH AMERICA AMERICA 382.8 42.8% 36.5% 370.0 EUROPE EUROPE 49.8% 57.1% FY 2024 FY 2025 FY 2024 FY 2025 Total revenues stood at 370.0 million Euro, down slightly fro
Slide 26: Revenues by division
REVENUES BY DIVISION HORIZONS REVENUES TALENTA REVENUES MESTIERI REVENUES €M €M €M -8.0% +6.1% +6.4% YoY YoY YoY 239.0 62.5 95.3 219.8 89.6 58.9 FY 2024 FY 2025 FY 2024 FY 2025 FY 2024 FY 2025 This drop is primarily due to the dollar exchange rate effect, which impacted The growth is driven by an in
Slide 27: EBITDA adjusted
EBITDA ADJUSTED Group improved its profitability EBITDA ADJUSTED EBITDA ADJUSTED BRIDGE €M / % €M +14.0% 8.0 34.3 YoY 30.1 0.8 -4.6 34.3 EBITDA EBITDA 30.1 MARGIN MARGIN 9.3% 7.9% FY 2024 FY 2025 EBITDA ADJ 2024 Delta Horizons Delta Talenta Delta Mestieri EBITDA ADJ 2025 Group improved its profitabi
Slide 28: EBITDA adjusted by division
EBITDA ADJUSTED BY DIVISION Strong contribution by Mestieri Division HORIZONS EBITDA ADJUSTED TALENTA EBITDA ADJUSTED MESTIERI EBITDA ADJUSTED €M / % €M / % €M / % -120 BPS +80 BPS +840 BPS YoY YoY YoY EBITDA EBITDA EBITDA MARGIN 8.3 MARGIN MARGIN 25.5 EBITDA EBITDA 5.0 10.7% MARGIN MARGIN 8.0% 8.8%
Slide 29: Net result
NET RESULT Group’s return to robust profitability BRIDGE EBITDA ADJ - NET RESULT NET RESULT €M €M 34.2 33.2 -1.0 7.0 -0.5 19.2 FY 2023 FY 2024 FY 2025 -13.9 16.7 -2.6 12.1 -10.4 -4.6 7.1 -5.0 EBITDA NON EBITDA DEPR EBIT NON EBIT NET EBT TAX NET ADJ RECURRING AND ADJ RECURRING FINANCIAL RESULT COST A
Slide 30: Net financial position
NET FINANCIAL POSITION Strong cash conversion, debt profile heading in the right direction NET FINANCIAL POSITION CASH FLOW €M €M NFP NFP ex. IFRS16-DEBT 37.6 -4.0 -37.7% -61.8% -3.4 YoY YoY -18.6 47.5 -7.5 47.7 -3.0 -0.9 58.6 36.5 36.1 13.8 FY 2024 FY 2025 FY 2024 FY 2025 CASH AS AT NET CASH FLOW C
Slide 31: Net financial position
NET FINANCIAL POSITION Accelerated deleverage FINANCIAL POSITION E BREAKDOWN LEVERAGE REDUCTION PATH €M €M / % FY 2023 FY 2024 FY 2025 -84.3 -58.6 -36.5 -57% VS 2023 22 28 28 47 47 48 FY 2023 FY 2024 FY 2025 84.3 -78 -111 -96 58.6 36.5 -12 -16 -23 -18 -22 FY 2023 FY 2024 FY 2025 -24 LEVERAGE LEVERAG
Slide 32: Order backlog as of 31 December 2025
ORDER BACKLOG AS OF 31 DECEMBER 2025 Solid growth driven by improved synergies across the three divisions TOTAL BACKLOG TOTAL BACKLOG BREAKDOWN BY SCHEDULED YEAR AND DIVISION €M / % €M +3.6% YoY 313 189 744 771 +330 ORDERS SECURED AF T ER 31 DECEMBE R 2025 77 56 64 40 25 7 FY 2024 FY 2025 2026 2027
Slide 33: Company Overview, FY 2025 Results, Q&A, Annex
COMPANY OVERVIEW FY 2025 RESULTS Q&A ANNEX
Slide 34: Company Overview, FY 2025 Results, Q&A, Annex
COMPANY OVERVIEW FY 2025 RESULTS Q&A ANNEX
Slide 35: Shareholding
SHAREHOLDING S H AR E H O L D E R S # O F S H AR E S % S H AR E C AP I T AL VENEZIA S.P.A.* 5,547,175 76.18% OSCAR MARCHETTO** 55,259 0.76% GIAN CARLO CORAZZA*** 10,000 0.14% ALESSANDRO ZANCHETTA**** 8,000 0.11% TREASURY SHARES 968 0.01% FREE FLOAT 1,660,473 22.80% TOTAL 7,281,875 100.00% * of which
Slide 36: Consolidated income statement
CONSOLIDATED INCOME STATEMENT FY 2025 / Reclassified ‘000 Euro 31.12.2025 % 31.12.2024 % ∆ Revenues from contracts with customers 365,975 98.9% 377,627 98.6% (11,652) Other revenues and income 4,047 1.1% 5,196 1.4% (1,149) Total revenues 370,021 100.0% 382,823 100.0% (12,802) Materials, services and
Slide 37: Consolidated balance sheet
CONSOLIDATED BALANCE SHEET FY 2025 / Reclassified ‘000 Euro 31.12.2025 31.12.2024 Intangible assets 39,831 46,012 of which Goodwill 31,229 33,063 Tangible assets 18,081 18,012 Right-of-use assets 29,461 21,933 Investments in associates 321 289 Non-current financial assets 335 326 Other non-current a
Slide 38: Consolidated net financial position
CONSOLIDATED NET FINANCIAL POSITION FY 2025 ‘000 Euro 31.12.2025 31.12.2024 A. Cash and cash equivalents 46 65 B. Bank deposits 47,672 47,413 C. Total liquidity (A+B) 47,718 47,478 D. Current financial assets 27,728 28,149 E. Current bank debt (30,922) (43,302) F. Current portion of long-term debt (
Slide 39: Consolidated cash flow statement
CONSOLIDATED CASH FLOW STATEMENT FY 2025 / Reclassified ‘000 Euro 31.12.2025 31.12.2024 Cash flows from operating activities 37,604 27,444 Cash flows from investing activities (7,170) (5,254) Free Cash Flow 30,434 22,190 Cash flows from financing activities (29,204) (22,703) Effect of exchange rate
Slide 40: Disclaimer and notes
DISCLAIMER AND NOTES This document has been prepared by SOMEC S.p.A. (the ‘Company’) solely for the purposes of this presentation. This document may not be reproduced or distributed in whole or in part by any other person with any way than the Company. The Company takes no responsibility for the use
Slide 41: Investor Relations
INVESTOR RELATIONS investorrelations@somecgroup.com