Sys-dat S.p.a. · MIL:SYS
Sys-dat — Investor Day (May 2026)
30 slides from Sys-dat's investor day presentation, May 18, 2026
Slide 1: Unlocking the Future - Investor Day
May 18th, 2026 UNLOCKING THE FUTURE Investor Day STRICTLY CONFIDENTIAL: Contents in this document are strictly confidential and SYS-DAT property; it is forbidden to copy this document, to amend it, to share it and to print it without previous written authorization from SYS-DAT S.p.A. 1
Slide 2: Disclaimer
This document has been prepared by Sys-Dat Group S.p.A. (the “Company” or “Sys-Dat Group”) for information In particular, but without limitation, no representation or warranty, express or implied, is or will be given as to the purpose only, it contains only summary information and, therefore, it is
Slide 3: Guest Speaker: Gianmario Verona
GUEST SPEAKER GIANMARIO VERONA Former Rector of Bocconi University Professor of Innovation Management STRICTLY CONFIDENTIAL: Contents in this document are strictly confidential and SYS-DAT property; it is forbidden to copy this document, to amend it, to share it and to print it without previous writ
Slide 4: SYS-DAT: Unlocking the future
SYS-DAT: Unlocking the future 01 Our Strategic Vision 02 Winning the Italian ICT market 03 Financial guidance 2026-2028 04 The blueprint for growth Emanuele Angelidis Matteo Neuroni Andrea Baldini Vice Chairman CEO CFO STRICTLY CONFIDENTIAL: Contents in this document are strictly confidential and SY
Slide 5: Our Strategic Vision
01 Our Strategic Vision ‘| sys-DATGROUP
Slide 6: SW Solutions Driven by Deep Industry Expertise
SYS-DAT: SW SOLUTIONS DRIVEN BY DEEP INDUSTRY EXPERTISE Delivering measurable success proven by KPIs 2025 BUSINESS HIGHLIGHTS 20 650+ 6.000+ 66% 2.2% Vertical Companies Personnel Multisector customers Clients retained for 5+ Y Revenue Churn 2025 FINANCIAL HIGHLIGHTS € 89.6m 83% € 17.1m € 8.7m € 48.5
Slide 7: A Business Built for Value Creation and Predictability
A BUSINESS BUILT FOR VALUE CREATION AND PREDICTABILITY Embedding our software at the core of client operations to lock in recurring revenue MISSION Enabling AI powered new business models through proprietary software for vertical markets and ICT consulting services for mission critical processes PRO
Slide 8: Our Two Pillars for Sustained Growth
OUR TWO PILLARS FOR SUSTAINED GROWTH A focused execution plan for market consolidation and profitable expansion ORGANIC GROWTH STRATEGIC M&A ENGINE Technological Financial goals (T) goals (F) Market goals (M) STRICTLY CONFIDENTIAL: Contents in this document are strictly confidential and SYS-DAT prop
Slide 9: Our Two Pillars for Sustained Growth: Organic Growth
OUR TWO PILLARS FOR SUSTAINED GROWTH A focused execution plan for market consolidation and profitable expansion ORGANIC GROWTH Maximizing customer lifetime value through targeted up & cross-selling and solidifying our vertical market leadership GROWTH outpace IT market by more than 70% EBITDA & CASH
Slide 10: Our Two Pillars for Sustained Growth: Strategic M&A Engine
OUR TWO PILLARS FOR SUSTAINED GROWTH A focused execution plan for market consolidation and profitable expansion Technological goals (T) Financial goals (F) STRATEGIC M&A ENGINE Executing our disciplined ‘serial acquirer’ strategy to consolidate markets, Market goals (M) integrate new technologies an
Slide 11: Our Proven Formula for Continuous Growth and Value Creation
OUR PROVEN FORMULA FOR CONTINUOUS GROWTH AND VALUE CREATION A consistent track record of leveraging our dual-engine model: disciplined M&A and solid organic expansion Consistently outpacing the market (‘19-’25) Business size doubled every 3 years 90 2025 SYS-DAT organic growth: 9.8% 80 70 X 1.7 Ital
Slide 12: 2028 ca. Doubling 2025 KPIs
2028 CA. DOUBLING 2025 KPIs Future targets consistent with our historical trend ca. doubling our size every 3 years 2028 2025 2022 2019(1) Revenue: € 18.5m Revenue: € 38.0m Revenue: € 89.6m Revenue: EBITDA: Target EBITDA: € 4.0m EBITDA: € 7.9m EBITDA: € 17.1m Net Inc. Adj : € 1.8m (2) Net Inc. Adj :
Slide 13: Winning the Italian ICT market
02 Winning the Italian ICT market
Slide 14: The Resilient Italian ICT Market Fueled by Digital Enablers
THE RESILIENT ITALIAN ICT MARKET FUELED BY DIGITAL ENABLERS SYS-DAT outperforms the market thanks to Cross-selling, Up-selling and innovation Italian IT Market (€ b) 32.6 31.1 29.7 Artificial Intelligence 28.4 26.8 25.3 23.4 Big Data 20,8 22,0 18,6 19,7 17,3 14,8 16,2 Cybersecurity Cloud 9,5 9,8 10,
Slide 15: Our Main Target Markets
OUR MAIN TARGET MARKETS All markets expected growth(*) provide positive signals 2026-2028 exp. growth 2026-2028 exp. growth 2026-2028 exp. growth 8.8% Logistics & 8.0% 7.0% Healthcare Fashion&Luxury Transportation 2026-2028 exp. growth 2026-2028 exp. growth 2026-2028 exp. growth 6.0% 5.5% 5.0% Retai
Slide 16: Competitive Landscape
COMPETITIVE LANDSCAPE Deep industry expertise. Proven technology solutions Vertical Market Specialist Extremely specialised Comprehensive players with limited offer specialised offering and potential M&A targets favours customers loyalty Limited Solutions End-to-End Solutions Blue chip players high
Slide 17: Our Integrated Offering: Driving Growth and Loyalty
OUR INTEGRATED OFFERING: DRIVING GROWTH AND LOYALTY Three distinct solution families engineered to capture the full customer value OUR SOLUTIONS STRATEGIC RELEVANCE REASONS TO BUY %’25 REV. • High exit barriers ERP • Tailored for vertical market needs MES • 10-15Y Customer stickiness 66.4% WMS
Slide 18: SYS-DAT Leveraging on AI Opportunities
SYS-DAT LEVERAGING ON AI OPPORTUNITIES Pervasive AI capabilities in internal processes and commercial offering AI-POWERED VALUE Embedding AI across our business to deliver superior product value and unlock new levels of operational efficiency ACTIVITY IMPACT Cust. engagement efficient effective
Slide 19: A Resilient Customer Base Built on Diversification and Longevity
A RESILIENT CUSTOMER BASE BUILT ON DIVERSIFICATION AND LONGEVITY Strong share of Recurring and Repeatable Revenues from a loyal customer base (66% of clients with 5+ years) Revenue by market sector Revenue by customer size 1%1% 1% 4% Manufacturing 18% € > 50m Services 25% Commerce 40% 45% 10m < € <
Slide 20: Financial guidance 2026-2028
03 Financial guidance 2026-2028
Slide 21: Solid FY 2025 Execution and Strong Q1 2026 Start
SOLID FY 2025 EXECUTION AND STRONG Q1 2026 START Significant value creation signalled by robust Q1 2026 EBITDA FY 2025 REVENUES FY 2025 EBITDA FY 2025 NET INCOME 4,2 26,5 6,9 12,8 6,2 63,1 11,6 57,5 FY 2024 FY 2025 FY 2024 FY 2025 FY 2024 FY 2025 Inorganic Revenue Organic Revenue Inorganic EBITDA Or
Slide 22: 2028 ca. Doubling 2025 KPIs
2028 CA. DOUBLING 2025 KPIs Future targets consistent with our historical trend ca. doubling our size every 3 years 2028 2025 2022 2019(1) Revenue: € 18.5m Revenue: € 38.0m Revenue: € 89.6m Revenue: EBITDA: Target EBITDA: € 4.0m EBITDA: € 7.9m EBITDA: € 17.1m Net Inc. Adj : € 1.8m (2) Net Inc. Adj :
Slide 23: Our Building Blocks for 2026-2028 Organic Growth
OUR BUILDING BLOCKS FOR 2026-2028 ORGANIC GROWTH Our guidance is built upon a foundation of recurring revenues, recent M&A, and a robust Q1 2026. ORGANIC GROWTH 2026-2028 PRIORITIES ORGANIC GROWTH: target up to 10% (over 70% IT market growth rate) 2026 EBITDA MARGIN: target c.19%, while integrat
Slide 24: Our 3-Year Organic Growth Guidance
OUR 3-YEAR ORGANIC GROWTH GUIDANCE We will continue to outpace the Italian ICT market by a factor of ~1.7x through 2028 Main KPIs FY2025 FY’26 organic(2) FY ‘28 organic • Revenue € 89m c. € 105m c. € 126m • EBITDA € 17m c. € 20m c. € 26m • EBITDA margin 19.0% 19.4% 20.6% • Net Income adj.(1) € 9m c.
Slide 25: Our Building Blocks for 2026-2028 Inorganic Growth
OUR BUILDING BLOCKS FOR 2026-2028 INORGANIC GROWTH Our guidance is built upon an evidence of 20 acquisitions made between 2021 and beginning of 2026 INORGANIC GROWTH 2026-2028 PRIORITIES REVENUE TO BE ACQUIRED: € 45m to € 60m (€ 38m to € 53m plus et.ics & Technis Blu acq. in Q126) EBITDA MARGIN:
Slide 26: Our 3-Year Total Growth Trajectory
OUR 3-YEAR TOTAL GROWTH TRAJECTORY A clear path to doubling our Revenue and EBITDA by 2028, powered by our dual-engine growth model Main KPIs 2028 Organic (1) 3Y M&A (2) 2028 w/ M&A • Revenue c. € 126m c.€ 38 / 53m c.€ 164 / 179m • EBITDA c. € 26m c.€ 6 / 9m c.€ 32 / 35m • Net Inc. adj. (3) c. € 13m
Slide 27: 2028 ca. Doubling 2025 KPIs
2028 CA. DOUBLING 2025 KPIs Future targets consistent with our historical trend ca. doubling our size every 3 years 2028 2025 2022 2019(1) Revenue: € 18.5m Revenue: € 38.0m Revenue: € 89.6m Revenue: € 164 / 179m EBITDA: € 4.0m EBITDA: € 7.9m EBITDA: € 17.1m EBITDA: € 32 / 35m Net Inc. Adj : € 1.8m (
Slide 28: The blueprint for growth
04 The blueprint for growth ‘| sys-DATGROUP
Slide 29: The Investment Case
THE INVESTMENT CASE FOR A unique combination of market leadership, strategic clarity and proven execution STRONG HISTORY OF PROFITABLE GROWTH IN A GROWING MARKET PROVEN TRACK RECORD OF EFFECTIVE M&A AND INTEGRATION SOLID FINANCIAL POSITION AND CASH GENERATION TO PURSUE OUR PLAN STICKY CUSTOMERS ENSU
Slide 30: STRICTLY CONFIDENTIAL: Contents in this document are strictly confidential and SYS-DAT property; it is
STRICTLY CONFIDENTIAL: Contents in this document are strictly confidential and SYS-DAT property; it is forbidden to copy this document, to amend it, to share it and to print it without previous written authorization from SYS-DAT S.p.A.