Tesmec S.p.a. · MIL:TES
Tesmec — European Midcap Event 2025
54 slides from Tesmec's conference presentation, Jun 11, 2025
Slide 1: European Midcap Event
EUROPEAN MIDCAP EVENT Paris I June 11th, 2025 1
Slide 2: European Midcap Event agenda
EUROPEAN MIDCAP EVENT 1 TESMEC GROUP 2 BUSINESS UNITS 3 FINANCIALS 4 2025 BUSINESS GUIDELINES 5 ANNEX All rights reserved EUROPEAN MIDCAP EVENT 2 June 11th, 2025
Slide 3: Tesmec at a Glance
TESMEC AT A GLANCE All rights reserved EUROPEAN MIDCAP EVENT 3 June 11th, 2025
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: Italian DNA, Global Footprint
16 SALES SUBSIDIARIES 7 PRODUCTION PLANTS ITALY: Grassobbio, Sirone, Monopoli, Fidenza, Patrica ITALIAN USA: Alvarado; FRANCE: Durtal DNA, GLOBAL FOOTPRINT 70+ YEARS OF EXPERIENCE 35+ PATENTS DEVELOPED 900+ EMPLOYEES WORLDWIDE TESMEC GROUP HEADQUARTERS BERGAMO, ITALY Founded in northern Italy in the
Slide 6: History of Innovation, Diversification & Growth
HISTORY OF INNOVATION, DIVERSIFICATION & GROWTH All rights reserved EUROPEAN MIDCAP EVENT 6 June 11th, 2025
Slide 7: Energy ready to unleash energy in all its shades
ENERGY-STRINGING ENERGY-AUTOMATION READY • Solutions for power lines • 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: Tesmec Group Technological Developments
TESMEC GROUP TECHNOLOGICAL DEVELOPMENTS STRINGING OF LAYING OF LAYING OVERHEAD CABLES SYSTEMS FOR ENERGY ELECTRIC CABLES UNDERGROUND CABLES FOR RAILWAY NETWORKS ELECTRICAL SUBSTATIONS THE COMMON THREAD OF OUR HISTORY ENERGY 1984 | TRENCHERS 2017 | AUTOMATION 2012 | RAILWAY • Systems and devices • In
Slide 9: Drivers: Innovation, Diversification & Growth
TESMEC ADDED-VALUE SOLUTIONS AND MONITORING STRATEGIC SYSTEMS OFFER A HIGH-LEVEL PERFORMANCE IN COMPLEX PROJECTS DRIVERS INNOVATION, • Growing long-term trends in cross-cutting development drivers: DIVERSIFICATION energy transition, sustainability and digitalization • Selective approach on key growt
Slide 10: Market Drivers Transform to Grow
TESMEC ADDED-VALUE SOLUTIONS AND MONITORING SYSTEMS OFFER A HIGH-LEVEL PERFORMANCE IN COMPLEX PROJECTS MARKET IOT, BIG DATA AND ARTIFICIAL INTELLIGENCE DRIVERS • Combine Operational Data in the cloud and apply Advanced Analytics • Diagnostic and Digitalization for the Predictive Maintenance • Roboti
Slide 11: Digital Innovation: AI as a Game Changer
DIGITAL MAPPING AUTONOMOUS VEHICLES • Digitalization of existing infrastructures • Smart fleet management • Live and synchronized working environment for • Automated jobsite DIGITAL professionals • High standard safety • Virtual reconstruction of under and above earth INNOVATION PREDICTIVE MAINTENAN
Slide 12: Sustainable Innovation: Renewables as a Game Changer
ELECTRIFICATION LOW CARBON FOOTPRINT • Full electric stringing machines • Clean and Fast solutions • Hybrid and electric railcars • Innovative methodologies to reduce the environmental impact • Path towards electrification for small size trenchers • New generation of engines SMART & STRONG GRID SUST
Slide 13: ESG Strategy
ENVIRONMENT SOCIAL GOVERNANCE INCREASE GREEN & INVEST IN PEOPLE ESG EFFECTIVE DIGITAL SOLUTIONS & LOCAL AND SUSTAINABLE ▪ Improving energy efficiency with increasing renewable energy COMMUNITIES GOVERNANCE ▪ Strategies for Talent ▪ Promotion of a responsible sources Acquisition and Employer corporat
Slide 14: Business Units
TESMEC BUSINESS UNITS All rights reserved EUROPEAN MIDCAP EVENT 14 June 11th, 2025
Slide 15: Energy Stringing
ENERGY STRINGING • SOLUTIONS FOR CONSTRUCTION AND MAINTENANCE OF ELECTRICAL NETWORKS • ADVANCED METHODOLOGIES FOR AUTOMATED CONSTRUCTION SITES • ZERO EMISSION MACHINES DIGITAL & GREEN SOLUTIONS: NEW METHODOLOGIES FOR CONSTRUCTION AND MAINTENANCE OF ENERGY TRANSPORT AND DISTRIBUTION INFRASTRUCTURES A
Slide 16: Energy – Stringing
ENERGY – STRINGING TOWER NEW POWERLINE HELICOPTER POWERLINE ERECTION CONSTRUCTION STRINGING REFURBISHMENT The perfect match between For the installation of any type The solution for the “direct Line refurbishment & hydraulic winches and derricks. of conductor, including htls. stringing” by helicopte
Slide 17: Energy – Stringing: Main Worldwide Experiences
ENERGY – STRINGING MAIN WORLDWIDE EXPERIENCES Reconductoring Underground Cable Laying Stringing Machines 4.0 Fjord crossing USA UK BELGIUM NORWAY Continuous Linear Puller Romford 4.0 Machines Special machines for fjord crossing Type of line: transmission, 3 x 33 kV cable pulling and modular machines
Slide 18: Reconductoring, Digital Stringing, Helicopter Stringing
RECONDUCTORING OPERATIONS Digital Stringing Machine HELICOPTER STRINGING CHINA Extreme project in Zhejiang Province All rights reserved Tower height: 380 m EUROPEAN MIDCAP18EVENT 18 June 11th, 2025 Four bundled conductors 500 kV
Slide 19: From Energy Stringing to Energy Automation
FROM ENERGY STRINGING... BU ENERGY STRINGING OH DIVISION OH OH OH HV PS SS UG UG UG PRODUCTION TRANSMISSION DISTRIBUTION PROSUMER OH UG HV PS SS OVERHEAD UNDERGROUND SUBSTATION PROTECTION, Solutions for the Complete range for AUTOMATION MONITORING installation and cable laying and SYSTEMS (SAS) AND
Slide 20: Energy Automation
ENERGY AUTOMATION • PROTECTION & MONITORING SOLUTIONS • REMOTE CONTROL SOLUTIONS • SERVICE TELECOMMUNICATIONS SOLUTIONS FOR HV GRIDS • SMART METERING SOLUTIONS GRID RELIABILITY, EFFICIENCY AND SECURITY: A FULL PORTFOLIO OF POWER GRID TECHNOLOGIES, TAILORED AND INTEGRATED SOLUTIONS TO FACE FAST-CHANG
Slide 21: Energy – Automation
ENERGY – AUTOMATION SUBSTATION SERVICE AUTOMATION SYSTEMS PROTECTION & MONITORING TELECOMMUNICATIONS Protection and control systems for HV Integrated solution for protection, substations. Integrated solution of service control and automation of modern telecommunications for HV grids. and complex ele
Slide 22: Energy – Automation: Main Worldwide Experiences
ENERGY – AUTOMATION MAIN WORLDWIDE EXPERIENCES Telecommunication Substation Automation solution System ALGERIA ITALY Remote management of HV Protection and control systems for HV substations and protection substations (SAS) based on IEC 61850 systems against unexpected grid faults Fault Passage Indi
Slide 23: Protection and Monitoring Solutions
PROTECTION AND MONITORING SOLUTIONS for primary and secondary substations All rights reserved Telecommunication EUROPEAN MIDCAP23EVENT solution 23 June 11th, 2025
Slide 24: Trenchers & Surface Miners
TRENCHERS & SURFACE MINERS • TELECOM NETWORKS, FTTH & LONG DISTANCE, POWER CABLE INSTALLATION • OIL & GAS, WATER PIPELINES, RENEWABLES • BULK EXCAVATION, QUARRIES & SURFACES MINING ADVANCED WORKING METHODOLOGY: INTEGRATED SYSTEMS & TECHNOLOGICAL SOLUTIONS FOR A COMPLETE JOBSITE MANAGEMENT All rights
Slide 25: Trenchers & Surface Miners
TRENCHERS & SURFACE MINERS FIBER ENERGY PIPELINES OPTIC CABLES & UTILITIES Urban fiber optic networks Underground energy Oil and gas pipelines, (FTTx), suburban networks cables, especially in canals, water and sewage (city rings) and long- renewable energy utilities networks and DETECTION distance n
Slide 26: Trenchers: Main Worldwide Experiences
TRENCHERS & SURFACE MINERS MAIN WORLDWIDE EXPERIENCES Fiber Optics Laying Gas Pipeline UK USA Georadar Explorer 2.0 & Sidecut 1150XHD Chainsaw Surface mining Gold Water Pipeline RUSSIA CHILE 1475 Rock Hawg 1675 Chainsaw Bauxite Mining Limestone quarry UZBEKISTAN WEST AFRICA (GUINEA, IVORY COAST) 147
Slide 27: Fiber Optics Laying and Tunneling Project
Fiber Optics Laying UK Georadar Explorer 2.0 & Sidecut TUNNELING PROJECT All rights reserved AUSTRALIA EUROPEAN MIDCAP27EVENT 27 1475 Rock Hawg EVO June 11th, 2025
Slide 28: Railway
RAILWAY • CATENARY INSTALLATION & MAINTENANCE • DIAGNOSTIC VEHICLES AND SYSTEMS • INTEGRATED PLATFORM FOR SAFE INFRASTRUCTURE GLOBAL CATENARY SPECIALIST FOR THE INSTALLATION AND MAINTENANCE OF RAILWAY LINES: SOLUTIONS WITH INTEGRATED SYSTEMS AND RAIL VEHICLES FOR A SAFE, EFFICIENT AND SUSTAINABLE RA
Slide 29: Railway & Surface Miners Trenchers
RAILWAY & SURFACE MINERS TRENCHERS CATENARY INSTALLATION DIAGNOSTIC OF INFRASTRUCTURE & MAINTENANCE Integrated systems, vehicles, solutions for the diagnostic of rail and civil Solutions for construction and refurbishment of railway line and infrastructure Certified vehicles for catenary maintenance
Slide 30: Railway: Main Worldwide Experiences
RAILWAY MAIN WORLDWIDE EXPERIENCES Stringing & recovering RER Catenary renewal Safety of Railway Catenary maintenance wires FRANCE ITALY 9 vehicles (6 different models) Infrastructure 88 Multipurpose railway vehicles USA ITALY 16 Revamping maintenance units Engineered to allow a correct execution of
Slide 31: Railway: Electrification of New Lines, High Speed
ELECTRIFICATION OF NEW LINES HIGH SPEED CHINA RAILWAY: Main worldwide experience > 30 stringing units 1,318 km BEIJING-SHANGHAI CUSTOMIZED SOLUTIONS POLAND 4 Stringing units Tensioning system for railway wiring operations composed by working units mounted on ISO 20 size flat modules All rights reser
Slide 32: A Long History Partnering with Major Players
A LONG HISTORY PARTNERING WITH MAJOR PLAYERS ACQUISITION OF GROUPE MARAIS 2015 Trenchers focus STRINGING AUTOMATION TRENCHER RAIL • Sales • Support to • Sales& • Sales the Enedis Service PARTNERSHIP with OTE • Spare Parts • Spare Parts Strategic synergy for the Rental business Project • R&D & Servic
Slide 33: Financials
TESMEC FINANCIALS All rights reserved EUROPEAN MIDCAP EVENT 33 June 11th, 2025
Slide 34: Key Consolidated Financials
KEY CONSOLIDATED FINANCIALS REVENUE BY BU (% ON TOTAL REVENUE) EBITDA BY BU (EBITDA MARGIN) NET FINANCIAL POSITION (€M) (€M) (€M) TOT. TOT. TOT. 236,0 239,5 41,1 153,5 147,0 46,9 50,4 (19,9%) (21,0%) TOT. 9,5 32,8 (18,9%) 8,6 67,7 77,3 (18,3%) 11,3 (28,7%) (32,23%) (14,7%) 10,0 (14,7%) 121,4 111,9 2
Slide 35: Key Consolidated KPIs
KEY CONSOLIDATED KPIs BACKLOG SALES BY MARKETS RECURRING BUSINESS ▪ Long- term backlog in Automation and Rail ▪ Recurring: Rental, Projects, Spare Parts, Services (maintenance, ▪ Trencher backlog 2023 net of Groupe Marais revamping & refurbishing, consulting & training), LT backlog; discontinuing op
Slide 36: 1Q.2025 Actual Profit & Loss Statement
1Q.2025* ACTUAL PROFIT&LOSS STATEMENT “1Q.2024 Pro-Forma” excludes Groupe Marais discontinuing operations results (“after” JV operation in France) PROFIT & LOSS 1Q.2025 1Q.2024 €M Actual Pro-Forma Δ Δ% ▪ REVENUES growing by ca. 10% vs. 2024, with improvement in all business units REVENUES 61,4 55,8
Slide 37: 1Q.2025 Statement of Financial Position
1Q.2025* STATEMENT OF FINANCIAL POSITION €M Mar. 31, 2025 Dec. 31, 2024 Δ Net Working Capital 103,0 99,8 3,1 of which: inventory 94,2 96,1 (1,9) ▪ Increase in net working capital due to higher intra-year of which:A/R 61,2 55,4 5,7 receivables and WIP Fixed Assets 105,2 106,9 (1,7) ▪ Groupe Marais re
Slide 38: Trenchers: 1Q.2025 Facts & Figures
TRENCHERS: 1Q.2025* FACTS & FIGURES (€M) 50 KEY FACTS ▪ Solid business growth and market relaunch in Tesmec USA, 40 better than initial forecast even thought the uncertainty of the 30,7 31,8 market related to political and other developments 30 ▪ Enhancing local infrastructure in Australia with prom
Slide 39: Rail: 1Q.2025 Facts & Figures
RAIL: 1Q.2025 FACTS & FIGURES (€M) 20 KEY FACTS ▪ Significant milestones in internationalization: ✓ SWITZERLAND: successful achievement of the critical 9,6 design review (CDR). second significant milestone of the 10 sales contract for the design, production and 7,5 commissioning of the integrated di
Slide 40: Energy: 1Q.2025 Facts & Figures
ENERGY: 1Q.2025 FACTS & FIGURES (€M) 30 KEY FACTS 20,0 17,6 Stringing 20 ▪ Major opportunities in India and Middle East with development prospects and in US with the introduction of new innovative 10 tools. 2,9 3,2 ▪ PE1151 launch: a new full electrical machine complete the 16,4% 15,8% offer in the
Slide 41: 1Q.2025 EBITDA Evolution by BU
1Q.2025* EBITDA EVOLUTION BY BU (€M) 20 +0,6 (0,6) +0,3 10 Volumes and lower 9,1 Volumes Job-orders’ mix OPEX, more than 9,5 and lower OPEX offsetting quarterly mix 9,1 9,2 9,5 0 Pro-forma 1Q.2024 Trencher Railway Energy 1Q.2025 *Actual figures as of March 31, 2025 prepared in accordance with IFRS5.
Slide 42: 1Q.2025 Net Financial Position Evolution
1Q.2025* NET FINANCIAL POSITION EVOLUTION (€M) 200 Total delta: -5,6€M Delta IFRS: -3,3€M 150 Delta Net NFP: +8,9€M 153,5 30,5 152,6 147,0 33,8 3,5 3,1 2,2 122,1 100 113,2 50 0 Dec. 31, 2024 IFRS 16 Net debt NWC OFCF CAPEX Net debt IFRS 16 Mar.31, 2025 31/12/2024 31/03/2025 €M Mar. 31,2025 Dec. 31,2
Slide 43: 2025 Business Guidelines
2025 BUSINESS GUIDELINES All rights reserved EUROPEAN MIDCAP EVENT 43 June 11th, 2025
Slide 44: 2020-2024 Equity Story and 2025 Outlook
2020-2024 EQUITY STORY and 2025 OUTLOOK (€ mln) 17,2% LEVERAGING STRONG CAPABILITIES IN THE FACE OF CURRENT 41,1 153,5 MACROECONOMIC CHALLENGES AND UNCERTAINTY 14,5% 147 245,2 239,5 236 153,5 35,2 13,9% ▪ Growing reference markets driven by energy transition 32,8 128,4 121,0 ▪ Solid order book and e
Slide 45: Trenchers
TRENCHERS The strengthening of North Africa, Strengthening driven by favorable conditions, the the North Africa resumption of key projects, and market the consolidation of local structure. Tesmec invests in the Business advancement of digital solutions Strategic and services and AI technology for ex
Slide 46: Rail
RAIL TESMEC FRANCE: Strategic platform for the growth of French Growth of French activities in the railway sector: development activities of a specialized center to support the Railway business, aimed at meeting local needs for railway infrastructure maintenance solutions. STRENGTHEN THE MARKET POSI
Slide 47: Energy
ENERGY STRINGING AUTOMATION Continue leading the growth and extend Growth at a fast pace while improving the market share, we will implement diversification, exploiting our current strategic initiatives and innovative Profitability Digitalization portfolio and addressing contingencies, by solutions.
Slide 48: Annex
ANNEX All rights reserved EUROPEAN MIDCAP EVENT 48 June 11th, 2025
Slide 49: Annex: 2024 Summary Profit & Loss Statement
ANNEX: 2024* SUMMARY PROFIT & LOSS STATEMENT PROFIT & LOSS (€ Mln) 2024 ACTUAL 2023 PRO-FORMA 2023 ACTUAL NET REVENUES 239,5 236,0 251,9 Raw materials costs (-) (109,0) (106,3) (108,8) Cost for services (-) (42,7) (47,9) (52,2) Personnel Costs (-) (53,0) (56,6) (63,3) Other operating revenues/costs
Slide 50: Annex: 2024 Balance Sheet
ANNEX: 2024* BALANCE SHEET BALANCE SHEET (€ Mln) Dec.31, 2024 Dec. 31, 2023 Inventory 96,1 110,6 Work in progress contracts 36,7 29,2 Accounts receivable 55,4 45,6 Accounts payable (-) (79,9) (82,8) Op. working capital 108,4 102,7 Other current assets (liabilities) (8,6) (15,8) Net working capital 9
Slide 51: Annex: 1Q.2025 Summary Profit & Loss Statement
ANNEX: 1Q.2025* SUMMARY PROFIT & LOSS STATEMENT PROFIT & LOSS (€ Mln) 1Q.2025 ACTUAL 1Q.2024 PRO-FORMA NET REVENUES 61,4 55,8 Raw materials costs (-) (28,6) (25,0) Cost for services (-) (11,0) (10,0) Personnel Costs (-) (13,6) (13,9) Other operating revenues/costs (+/-) (1,5) (1,3) Non recurring rev
Slide 52: Annex: 1Q.2025 Balance Sheet
ANNEX: 1Q.2025* BALANCE SHEET BALANCE SHEET (€ Mln) Mar. 31, 2025 Dec.31, 2024 Inventory 94,2 96,1 Work in progress contracts 40,6 36,7 Accounts receivable 61,2 55,4 Accounts payable (-) (86,3) (79,9) Op. working capital 109,7 108,4 Other current assets (liabilities) (6,8) (8,6) Net working capital
Slide 53: 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
Slide 54: Tesmec
+> ee TESMEC