Slide 1: 2026 Company Presentation
ye DBA 2026|company PRESENTATION
Slide 2: Disclaimer
DISCLAIMER This Investor Presentation (the "Report") has been prepared by DBA Group S.p.A. (the "Company") for informational purposes only. The information contained in this Report is subject to change without notice, and the Company makes no representation or warranty, express or implied, regarding
Slide 3: Agenda
AGENDA 1. COMPANY OVERVIEW 2. FINANCIAL HIGHLIGHTS 3. APPENDIX 3
Slide 4: 1. Company Overview
1. COMPANY OVERVIEW 4
Slide 5: DBA Group
DBA GROUP DBA Group is an independent holding (group of companies) specialized in Consultancy, Architecture, Engineering and Project Management services and ICT solutions focused on lifecycle management for buildings and infrastructures ~116 500+ 1100+ 9 34 €M ACTIVE SKILLED COUNTRIES YEARS OF SERVI
Slide 6: Manifesto of DBA Group Purposes and Values
MANIFESTO OF DBA GROUP PURPOSES and VALUES We inhabit the world of consulting, architecture, engineering and ICT with passion, audacity and vision. We want to be enablers of innovation and ecological transition, promoters and Purpose facilitators of change, working together with customers and partne
Slide 7: Geographical Presence
Value of Production FY2024 GEOGRAPHICAL PRESENCE 115,8 €M 17 offices in Italy 10 offices abroad 15% 85% PUBLIC PRIVATE DBA OFFICES PROJECT AREAS 40% Italy, Albania, Azerbaijan, Bosnia Angola, Bulgaria, Denmark, Egypt, Estonia, 60% 60% and Herzegovina, Croatia, Georgia, Germany, Greece, Jordan, Monte
Slide 8: Service Provided
SERVICE PROVIDED ARCHITECTURE & ENGINEERING Professional services from conception to A.E.P.M. maintenance of mission-critical works and infrastructure PROJECT MANAGEMENT OFFICE Management of complex projects, integrating process engineering and digital systems to ensure compliance with time and cost
Slide 9: A Simplified Group Structure
A SIMPLIFIED GROUP STRUCTURE ARCHITECTURE, ENGINEERING & PROJECT MANAGEMENT CONSULTING DIGITAL SYSTEMS DBA PRO & PROJEKTI 9
Slide 10: Sectors
SECTORS SECTORS’ CONTRIBUTION BUILDINGS 12% 32% 15% MCI & DATA CENTER ENERGY 13% 12% 16% FY2024 MCI & DATA CENTER 13,7 €M BUILDINGS (Pharma & Healthcare, 16,8 €M Real Estate & Retail, Industrial) IT INFRASTRUCTURES & ENERGY 14,2 €M TELECOMMUNICATION SOLUTIONS TELECOMMUNICATION 19,1 €M TRANSPORT & LO
Slide 11: Overview of the Italian Engineering Market
OVERVIEW OF THE ITALIAN ENGINEERING MARKET 5 €B MARKET CHARACTERISTICS Wide service perimeter Firms offer a broad spectrum: from design and consulting to full TOTAL MARKET VALUE project delivery Blended disciplines Architecture and engineering are deeply interwined, making clear segmentation challen
Slide 12: Top-Notch Client Base
TOP-NOTCH CLIENT BASE MCI & DATACENTER BUILDINGS ENERGY TELECOMMUNICATION TRANSPORT & LOGISTICS Real Estate & Retail Energy & Utilities TLC Network Central Offices Roads & Airports Generation & Storage Pharma & Healthcare Sustainable Mobility Ports & Dryports Industrial 12
Slide 13: Backlog Visibility as of 30/06/2025
BACKLOG VISIBILITY AS OF 30/06/2025 (€M) GROUP LEVEL DBA ACTUAL IT 2H 2025 2026 onward 2H 2025 2026 onward 2H 2025 2026 onward 58,9 119,0 73,7 32,0 60,1 26,9 45,3 41,7 18,4 Backlog in 2025 to cover ~ 85% of VoP expected in 2H 2025 13
Slide 14: People in DBA Group: Headcount as of 31/12/2024
PEOPLE IN DBA GROUP: HEADCOUNT AS OF 31/12/2024 MAIN INDICATORS 1% 88% 32% 37% 62% 68% PROFESSIONALS 858 Male Female Degree Diploma Other GROUP 24% 19% HEADCOUNT 43% 45% 12% 57% 12% STAFF STEM Staff IT & Other < 30y 30y - 50y > 50y 14
Slide 15: 2. Financial Overview
2. FINANCIAL OVERVIEW 15
Slide 16: Highlights FY2024 and 2025E
HIGHLIGHTS FY2024 and 2025E Value of Production at 115,8 €M in 2024 (+3,3% vs 2023). In 2025 higher contribution expected from new acquisitions in AEPM, reaching a total amount of 126,9 €M (+9,5% vs 2024). EBITDA Adjusted : flat in 2024 at 12,5 €M. In 2025 expected growth at 14,3 €M mainly driven by
Slide 17: Financial Highlights FY2024 and 2025E
FINANCIAL HIGHLIGHTS FY2024 and 2025E (€M) VALUE OF PRODUCTION EBITDA ADJUSTED NET FINANCIAL POSITION +9,5% +13,9% 126,9 115,8 14.3 12.5 (5,7) -38,0% (9,2) FY2024 2025E FY2024 2025E FY2024 2025E N.F.P/ EBITDA 0,7x 0,4x 17
Slide 18: Promising Results from 1H2025
PROMISING RESULTS FROM 1H2025 (€M) VALUE OF PRODUCTION EBITDA ADJUSTED NET RESULT +6,7% 53,4 57,0 +3,1% 5,7 5,9 +22,4% 2,1 1,7 1H 2024 1H 2025 1H 2024 1H 2025 1H 2024 1H 2025 18
Slide 19: Net Working Capital & Capex Breakdown
NET WORKING CAPITAL & CAPEX BREAKDOWN NET WORKING CAPITAL CAPEX (€M) 25,1 23,3 0,5 1,1 1,5 33,1 40,7 3,4 4,5 6,8 2,8 1 2 (14,8) 2,9 1,9 (20,2) M&A Tangibles M&A Tangibles Others 1H2025 FY2024 Inventories Trade receivables Trade payables 1H2025 FY2024 ✓ Days Inventory Outstanding 12 ✓ Days Sales Outs
Slide 20: Net Financial Debt Evolution
NET FINANCIAL DEBT EVOLUTION Long term Cash (€M) Debt available Cash Long term available Debt (6,4) 8,8 7,3 (5,1) Short term Short term Debt Debt (11,0) (11,7) (9,2) (8,8) (0,5) 4,2 (2,9) (1,6) 1,3 (0,1) FY 2024 FCFO CAPEX M&A DIVIDENDS BUYBACK OTHERS 1H 2025 20
Slide 21: Final Takeaways
FINAL TAKEWAYS ➢ Solid reputation and reliable track record in engineering services gained in more than 30 years ➢ High retention rate for DBA customers ➢ Growth strategy focused on most promising sectors like MCI Data Centers, Energy Transition and Infrastructures ➢ Agile business model with low Ca
Slide 22: 3. Appendix
3. APPENDIX 22
Slide 23: FY 2024 Financial Highlights
FY 2024 FINANCIAL HIGHLIGHTS (€M) FY 2024 FY 2023 FY24 vs FY23 VALUE OF PRODUCTION 115,8 112,1 3,3% Cost of Production (102,4) (98,0) (4,5%) Other Costs (1,5) (2,1) 30,4% EBITDA reported 12,0 12,1 (0,8%) Non recurring costs 0,6 0,5 EBITDA ADJUSTED 12,5 12,6 (0,4%) % on Value of Production 10,8% 11,2
Slide 24: 1H 2025 Financial Highlights
1H 2025 FINANCIAL HIGHLIGHTS (€M) 1H 2025 1H 2024 1H25 vs 1H24 VALUE OF PRODUCTION 57,0 53,4 6,7% Cost of Production (51,3) (47,4) (8,2%) Other Costs 0,2 (0,7) n.a. EBITDA reported 5,9 5,3 10,8% Non recurring costs 0,4 EBITDA ADJUSTED 5,9 5,7 3,1% % on Value of Production 10,3% 10,7% Amortization, d
Slide 25: Value of Production Breakdown: FY2023/2024
VALUE OF PRODUCTION BREAKDOWN: FY2023/2024 (€M) +3,3% 112,1 115,8 45,4 +3,8% 47,1 1,1 +52,1% 1,7 65,6 +2,1% 67,0 FY 2023 FY 2024 AEPM CONSULTING DIGITAL SYSTEM 25
Slide 26: EBITDA Adjusted Breakdown: FY2023/2024
EBITDA ADJUSTED BREAKDOWN: FY2023/2024 (0,4)% (€M) 12,6 12,5 3,2 +3,8% 3,4 0,1 n.a. 0,8 9,2 (10,1%) 8,3 FY 2023 FY 2024 AEPM CONSULTING DIGITAL SYSTEM 26
Slide 27: Mission Critical Infrastructures Data Center
>900 +160/18 2003 DATA CENTER EXPERTS IN THE DC ACTIVE SINCE Mission Critical Infrastructures & POPs SECTOR/ CERTIFIED EXPERTS Data Center >20 >300.000 >550 MAIN CLIENTS TOTAL SQM TOTAL MW IT POWER DATA CENTER (IRIDEOS) PUBLIC INSTITUTIONS, UNIVERSITIES, P.A. (LEPIDA, VSIX, UNI PD, MOSE, INSIEL, ETR
Slide 28: Telecommunication
1995 10 >100.000 ACTIVE SINCE COUNTRIES KM OF FIBER OPTIC Telecommunication NETWORKS >15 >30.000 3 MN MAIN CLIENTS RADIO SITES REAL ESTATE UNITS CONNECTED VIA FIBER OPTICS OPEN FIBER – TIM/FIBERCOP – FASTWEB – VODAFONE - A2A - OPEN FIBER – VODAFONE - HUAWEI – ZTE – WINDTRE – FASTWEB RETELIT/IRIDEOS
Slide 29: Buildings - Real Estate
1999 >1,000 KEYS >1,5 MN ACTIVE SINCE (HOSPITALITY SQM INVOLVED Buildings SECTOR) (REAL ESTATE) Real Estate > € 2,300 MN >2,000 Approx. 1 MN SQM INVOLVED APARTMENTS INVOLVED (OFFICES) (REAL ESTATE) (RESIDENTIAL) RAI HEADQUARTERS, 14 VIALE MAZZINI, ROME OFFICES ON CORSO EUROPA 18-20 IN MILAN • Prelim
Slide 30: Buildings - Retail
2003 6,000 >30,000 JOBS >800 ACTIVE SINCE STORES/BRANCHES IN 100+ INTERESTED Buildings INVOLVED BUILDINGS MUNICIPALITIES IN ITALY Retail 15 >1.5 MILLION SQM >5 MILLION SQM INTERVENTIONS IN MAIN CLIENTS INVOLVED INVOLVED ALL REGIONS OF ITALY (RETAIL) (REAL ESTATE) POSTE ITALIANE, BNL, N.D. BANK, ALLI
Slide 31: Buildings - Pharma
1970 >290.000 Buildings ACTIVE SINCE SQM ADDRESSED Pharma >25 >500.000 MAIN CLIENTS SQM ADDRESSED EDIFICIO 23 – TOSCANA LIFE SCIENCES FARMACEUTICI FORMENTI S.p.A. – ORIGGIO (VA) MASTERPLAN 2025 AND NASAL SPRAY DIVISION • Feasibility study • Master Plan • Safety Coordination • Integrated preliminary,
Slide 32: Buildings - Healthcare
1970 ~300 MN > 100 Buildings ACTIVE SINCE SQM ADDRESSED OPERATING ROOMS Healthcare >15 >940 MN >3 MN MAIN CLIENTS € INVOLVED BEDS INVITALIA – AQ BOX Covid-19 – Hospitals GENERAL REQUALIFICATION OF THE HUMANITAS Saronno, Busto Arsizio, Gallarate, Tradate, – GRADENIGO HOSPITAL COMPLEX Varese, Luino, C
Slide 33: Buildings - Industrial
1970 >500 MN Buildings ACTIVE SINCE SQM ADDRESSED Industrial >20 >350 MN MAIN CLIENTS € INVOLVED STELLANTIS LOGISTIC PARK - WAREHOUSE FRECCIA INTERNATIONAL – NEW PRODUCTION PIEDIMONTE SAN GERMANO S.p.A. FACILITY AND LOGISTICS HUB • Preliminary, final, and • BIM • Preliminary, final, and • Coordinati
Slide 34: Transport & Logistics
1995 10 >2.500 >400 MN OF TONS OF ACTIVE SINCE COUNTRIES KM OF GOODS HANDLED YEARLY Transport & Logistics HIGHWAYS IN THE PORTS WE SERVE Roads, Airports, Ports, Dryports >25 >200 >15 MAIN CLIENTS TUNNEL PORTS SERVED BY DESIGNED OUR SOFTWARE ANAS, SPEA, AUTOSTRADE, AVTODOR, GAVIO, ADSP IONIAN SEA – M
Slide 35: Energy - Transmission/Transformation
2007 >40 >2.000 Km OF POWER LINES ACTIVE SINCE SUBSTATIONS DESIGNED OR SUPERVISED Energy IN >100 PROJECTS Energy trasmission/transformation 10 >150 ENERGETIC RECHARGING STORAGES POINTS IN ITALY TERNA MINISTRY OF INFRASTRUCTURE – PORT SYSTEM AUTHORITY (ADSP) ITALY ITALY • Consulting and engineering s
Slide 36: Energy - Sustainable Mobility
2003 >6.000 7 ACTIVE SINCE GAS STATION COUNTRIES Energy ADRESSED Sustainable mobility 5 75 >250 MAIN CLIENTS GAS STATIONS GAS STATIONS SERVED NEWLY DESIGNED BY OUR SOFTWARE ENI, API, IP, TOTAL, ERG, Q8 ENI ITALY – ANGOLA ITALY • Engineering and Consultancy Services for • Engineering services for the
Slide 37: Energy - Energy Efficiency
2010 >20 Energy ACTIVE SINCE MAIN CLIENTS Energy Efficiency 2 >500 COUNTRIES ENERGY AUDITED BUILDINGS WINDTRE, VODAFONE, FASTWEB, BT, INSIEL, TIM ENAC ITALY ITALY • Energy Efficiency services for Data Center, • Energy Efficiency audits for 15 Airports Telecommunication Central Offices and PoP BENETT
Slide 38: Energy - Utilities
2005 40 Energy ACTIVE SINCE N. WORKS Utilities 50.000 Mn 4 TOTAL VALUE N. WATER OF WORKS TREATMENT PLANTS BIM, IREN ACQUA ACQUEVENETE ITALY ITALY • Design and Safety management for adjustment • Supervision of works for safety for springs and restructuring of purification plants interception for aque
Slide 39: Software Products
1998 >250 >200 ACTIVE SINCE GAS STATIONS SAFETY AND CONSTRUCTION Software SERVED PROJECTS MANAGED Products >15 >50 IT NETWORKS PORTS SERVED RISK-ASSESSED SINFONIST PORT-LINE • Solutions for Asset and Project Management Port Management System • WMS – Warehouse applied to FTTx and Mobile Networks proj
Slide 40: IT Infrastructures
1989 >100 >50.000 ACTIVE SINCE ENTERPRISE SATISFIED IT Infrastructures PROJECTS END-USERS Services & Solutions 24/7/365 >100 170.000 SECURITY OPERATIONS HIGH-LEVEL SERVICES CENTER CERTIFICATES REQUESTS IT Services SAP Solutions • Managed Services • SAP S/4 HANA • ICT outsourcing • SAP Cloud for Sale
Slide 41: Thank You!
yi DBA Thank You!