Tesmec S.p.a. · MIL:TES
Tesmec — STAR Conference 2017, London
30 slides from Tesmec's conference presentation, Oct 9, 2017
Slide 1: Integrated Solutions Provider
Integrated Solutions Provider STAR Conference 2017, London Mon. 9, Tue. 10 October 2017 www.tesmec.com 9th,10th October 2017
Slide 2: Index
Index > Corporate Strategy > 1H 2017 Results > Outlook 2H 2017 9th,10th October 2017 2
Slide 3: Tesmec Smart City
TESMEC SMART CITY Stringing Energy Automation Railway Trencher 9th,10th October 2017 3
Slide 4: The Business Units
The 4 Business Units STRINGING ENERGY AUTOMATION > Overhead power lines > Telecommunication & construction & maintenance Teleprotection > Reconductoring and line > Electronic integrated sensors, improvement fault detection and FULLY measurement > Underground cable laying INTEGRATED > Protections & E
Slide 5: Tesmec: From Steel to Technology
TESMEC “ From Steel to Technology ” OUR MISSION > Our mission is to be value added integrated solutions provider in the market of infrastructure for the transport of energy, data and material > We provide efficiency, digitalization, safety and sustainability for the modernization of the infrastructu
Slide 6: Strategy execution & Main milestones
Strategy execution & Main milestones EXPERTISE INTEGRATION FROM STRINGING TO TRENCHER FROM STRINGING TO RAILWAY FROM STRINGING TO AUTOMATION From machines for underground Markets saturation for power lines CONSOLIDATION Application of the tension stringing cable laying to digging solutions for elect
Slide 7: Power of our Cross Solutions
Power of our Cross Solutions INTEGRATED SOLUTIONS PROVIDER TOP Intelligence, specialists’ competences, QUALITY expertise, technologies 2017 - 2019 MANUFACTURER Equipment, Machines, GOOD Tools QUALITY Before WE ARE THE ONLY PROVIDER IN THE WORLD WE HAVE able to satisfy the infrastructure market's nee
Slide 8: Index
Index > Corporate Strategy > 1H 2017 Results > Outlook 2H 2017 9th,10th October 2017 8
Slide 9: 1H 2017 Closing
1H 2017 Closing ENERGY 1H2017 1H2016 Delta % GROUP (€ mln) 1H 2017 1H 2016 Delta % Revenues 32,0 22,2 44,2% EBITDA 5,6 2,5 119,7% Revenues 91,1 74,0 23,2% % on Revenues 17% 11% EBITDA 8,7 (*) 7,4 18,3% % on Revenues 10% 10% TRENCHERS 1H2017 1H2016 Delta % EBIT 2,0 1,4 39,0% Revenues 51,3 49,4 3,7% %
Slide 10: 1H 2017 Revenues: sales spread over different geographical area
1H 2017 Revenues: sales spread over different geographical area INTERNATIONAL SCALE AND EXPOSURE TO GROWING ECONOMIES JOINT WITH A GROWING IMPORTANCE OF THE ITALIAN MARKET 14% 18% 11% 22% 8% 21% 19% 19% 31% 15% 6% 16% Italy: growing weight thanks to Railways and Automation Segment Italy Europe Middl
Slide 11: EBITDA 1H 2017: increase despite higher rent costs
EBITDA 1H 2017: increase despite higher rent costs 26 17,1 24 22 20 18 16 14 12 (10,4) (0,1) 0,2 0,1 10 (3,9) 8 (0,7) (1,0) 6 9,7 8,7 4 7,4 2 0 EBITDA Revenues Raw materials Cost for Personnel Equity Capitalized Other Gross Grassobbio EBITDA 1Q 2016 & other costs Services Costs Investments R&D Expen
Slide 12: 1H 2017 Financial Results
1H 2017 Financial Results Financial Information (Euro mln) 1H 2017 2016 Net Working Capital 66,0 76,0 Non Current assets 70,1 70,1 Other Long Term assets/liabilities 1,5 0,5 Net Invested Capital 137,6 146,6 Net Financial Indebtness 91,5 96,7 Equity 46,1 49,9 Total Sources of Financing 137,6 146,6 9t
Slide 13: Working Capital Evolution
Working Capital Evolution 100 6,8 3,5 80 60 (8,3) (7,6) (4,4) 40 76,0 66,0 20 0 2016 Inventories WIP Trade Trade Other current 1H 2017 Net Working Receivables Payables ass. / liab. Net Working capital capital Days Days Euro Mln 1H 2017 2016 1H 2017 2016 Trade Receivables 56,2 49,4 111 138 Inventorie
Slide 14: Net Financial Position Evolution
Net Financial Position Evolution OPERATING NET FINANCIAL POSITION € mln 140 120 100 6,7 3,8 80 (5,6) (10,1) 60 96,7 91,5 40 20 0 NFP OFCF NWC Capex Int.exp. NFP FY 2016 net 1H 2017 > Net Financial Position reduction mainly thanks to lower working capital 1H 2016 > Capex more than absorbed by Interna
Slide 15: Backlog 2017.H1
Backlog 2017.H1 BACKLOG Backlog 31/3 Sales Q2.2017 In take Q2 Backlog 30/6 20,7 19,8 10,2 9,3 Energy 54,8 52,7 26,8 24,7 Trencher 112,5 109,5 4,3 1,3 Railway Total 188,0 182,0 41,3 35,3 9th,10th October 2017 15
Slide 16: Main 1H 2017 business highlights
Main 1H 2017 business highlights STRINGING: Significant orders in South America ENERGY xxx ENERGY AUTOMATION: New sensors for teleprotection+New A3 protection relays (tender) 9th,10th October 2017 16
Slide 17: Main 1H 2017 business highlights
Main 1H 2017 business highlights New technology developments on railway solutions: RAILWAY > Automation and Diagnostic systems xxx > Artic kit 9th,10th October 2017 17
Slide 18: Main 1H 2017 business highlights
Main 1H 2017 business highlights GREEN: Relevant projects & partnership agreements with international key players xxx TRENCHER Good achievements in infrastructure projects (Kuwait, Russia, USA) FTTH: Global solutions 9th,10th October 2017 18
Slide 19: Latest key projects
Latest key projects Stringing overhead Power Line - France Stringing machines 4.0 for the first time on jobsite A new concept in stringing machines: SIMPLE, SAFE, RELIABLE 9th,10th October 2017 19
Slide 20: Latest key projects
Latest key projects Catenary Specialist - Italy 9th,10th October 2017 20
Slide 21: Latest key projects
Latest key projects Wind and Solar Farm - Australia 9th,10th October 2017 21
Slide 22: Latest key projects
Latest key projects Pipeline Excavation - Kuwait 9th,10th October 2017 22
Slide 23: Latest key projects
Latest key projects Pipeline Excavation in tough conditions - France 9th,10th October 2017 23
Slide 24: Index
Index > Corporate Strategy > 1H 2017 Results > Outlook 2H 2017 9th,10th October 2017 24
Slide 25: 2H 2017 Milestones & Outlook
2H 2017 Milestones & Outlook MILESTONES ENERGY: Closing of important projects already announced (Russia, Italy, South America) RAILWAY: Strong effect of the rail start-up (acquired orders in Italy and US) BUSINESS xxx TRENCHER: definitive launch of traditional products for infrastructure projects >
Slide 26: Summary 1H 2017 Profit & Loss statement - Appendix A
Summary 1H 2017 Profit & Loss statement - Appendix A Delta vs Profit & Loss Account (€ mln) 1H 2017 1H 2016 Delta % 2016 Net Revenues 91,1 74,0 17,1 23,2% Raw materials costs (-) (41,5) (31,1) (10,4) 33,5% Cost for services (-) (15,6) (15,4) (0,2) 0,9% Personnel Costs (-) (23,7) (19,8) (3,9) 19,7% O
Slide 27: Summary 1H 2017 Balance Sheet - Appendix B
Summary 1H 2017 Balance Sheet - Appendix B Balance Sheet (€ mln) 1H 2017 2016 Inventory 69,6 70,5 Accounts receivable 56,2 49,4 Accounts payable (-) (39,5) (31,2) Op. working capital 86,3 88,7 Other current assets (liabilities) (20,3) (12,7) Net working capital 66,0 76,0 Tangible assets 47,7 47,3 In
Slide 28: 1H 2017 Exchange exposure
1H 2017 Exchange exposure Revenues Operating Costs 26% 34% 66% 74% Euro Other Currency Euro Other Currency Trade Receivable Financial Receivable Trade Payable 53% 26% 39% 61% 47% 74% Euro Other Currency Euro Other Currency Euro Other Currency 9th,10th October 2017 28
Slide 29: 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
Slide 30: www.tesmec.com
www.tesmec.com 9th,10th October 2017