Slide 1: 2020.9M Results Presentation
Stringing Energy Automation Integrated Solutions Provider Railway Trencher 2020.9M Results Presentation www.tesmec.com 30 October 2020
Slide 2: Index
Index > Tesmec Group at a glance > 2020.9M results > Outlook > COVID-19 > ANNEX A - 2020.9M Profit & Loss statement - Balance Sheet 30 October 2020 2
Slide 3: Tesmec Group at a glance
Tesmec Group at a glance VISION MISSION VALUE PROPOSITION STRATEGY To be a technological To operate in the market To supply added-value Innovation partner in a changing of infrastructure for the integrated solutions world Internationalization transport of energy, data for our customers and material
Slide 4: Business initiatives with impact on 2020.3Q Order Intake and M/L term forecast
Business initiatives with impact on 2020.3Q Order Intake and M/L term forecast Game changer in T&D industry Launch of full electric solutions & innovative maintenance technologies in US & European markets E STRINGING North America: strong order acquisition N Digital machines are the best seller for
Slide 5: Index
Index > Tesmec Group at a glance > 2020.9M results > Outlook > COVID-19 > ANNEX A - 2020.9M Profit & Loss statement - Balance Sheet 30 October 2020 5
Slide 6: 2020.9M Closing
2020.9M Closing 2020.9M* Delta vs. (1) Revenues: (mainly TRS Sales) affected by the GROUP (€ mln) 2020.9M 2019.9M Proforma% actions taken by public authorities to contain proforma the spread of the COVID-19. After the REVENUES (1) 119,0 116,8 144,2 -17,5% slowdown and lockdown phases, the Group rest
Slide 7: 2020.9M Proforma Closing – Business Breakdown
2020.9M Proforma Closing – Business Breakdown ENERGY 2020.9M 2019.9M Delta % > The decrease is related to the lockdown and slowdown in the 1H Revenues 29,2 31,5 -7,3% > Improved 3Q performance compared to 2019.3Q EBITDA 3,8 3,8 -0,9% thanks to resiliency of the Energy sector % on Revenues 12,8% 12,0
Slide 8: 2020.9M Euro/mln
2020.9M Euro/mln 1H 3Q 9M_YTD 2020 pf 2019 Var. 2020 pf 2019 Var. 2020 pf 2019 Var. REVENUES 73,0 97,5 -25,1% 46,0 46,7 -1,5% 119,0 144,2 -17,5% EBITDA 9,8 12,1 7,8 5,3 47,2% 17,6 17,4 -18,8% 0,9% 13,4% 12,4% 14,6% 11,4% 14,8% 12,1% EBIT (1,4) 3,3 1,8 0,6 0,4 3,9 After facing a first half characteri
Slide 9: Backlog
BACKLOG Euro/mln BACKLOG 30/06/2020 Sales 2020.Q3 Intake 2020.Q3 30/09/2020 (2) 49,0 77,0 40,4 Energy 12,4 68,0 92,0 Trencher 49,4 25,4 77,2 8,2 69,0 Railway (1) Total 194,2 46,0 89,8 238,0 (1) The acquisition of rail backlog has been impacted by the slowdown in the award of the Public Tender, but t
Slide 10: 2020.9M Revenues: sales spread over different geographical area
2020.9M Revenues: sales spread over different geographical area INTERNATIONAL SCALE, FOCUS ON EU-USA IMPORTANCE OF THE ITALIAN MARKET 2020.9M 2019.9M 23% 18% 19% 24% 12% 7% 16% 30% 17% 21% 8% 5% ITALY: railway business & automation impact Italy Europe Middle East BRICs and Oceania USA&EU: trencher a
Slide 11: 2020.9M Proforma EBITDA
2020.9M PROFORMA EBITDA € mln 20,0 0,0 1,0 (0,8) 17,4 17,6 17,5 15,0 12,5 10,0 7,5 5,0 2,5 0,0 2019.9M Energy Trencher Railway 2020.9M Positive impacts from the trencher rental business. 2019.9M The focus on high margin sales and costs reductions compensated the 2020.9M low performance of 2020.1H 30
Slide 12: 2020.9M Financial Results
2020.9M Financial Results Financial Information (€ mln) 2020.9M 2019 Net Working Capital 79,5 73,0 Non Current assets 76,4 66,8 Right of use - IFRS 16/IAS 17 23,6 20,1 Other Long Term assets/liabilities 6,9 4,2 Net Invested Capital 186,4 164,2 Net Financial Indebtness 114,7 98,5 Lease liability - IF
Slide 13: Working Capital evolution
Working Capital evolution 90 8,2 0,3 (6,9) 2,6 80 2,4 70 60 50 40 73,0 79,5 30 20 10 0 2019 Inventories WIP Trade Trade Other current 2020.9M Net Working Receivables Payables ass. / liab. Net Working capital capital Days Days € Mln 2020.9M 2020.1H 2019.FY 2020.9M 2019.FY Trade Receivables 61,0 59,8
Slide 14: Net Financial Position Evolution
Net Financial Position Evolution € mln NET FINANCIAL POSITION 14,2 143,0 (4,5) (3,9) 3,2 137,8 140 3,4 118,0 (2,9) 10,3 120 100 80 60 40 20 0 NFP OFCF NWC Capex Change NFP OFCF NWC Capex NFP 2019 of Cons. 2020.1H 2020.9M Area Impacted by the change of Cons Area and NWC, starting from Q3 the 2019 Gro
Slide 15: Net Financial Position Evolution
Net Financial Position Evolution NET FINANCIAL POSITION € mln 143,0 137,8* 140 123,8 120 112,5 112,5 115,6 118,0 10,2 11,0 119,2 114,7 100 105,0 97,8 99,8 80 92,6 94,1 60 40 20 0 1Q 2019 1H 2019 9M 2019 2019 1Q 2020 1H 2020 9M 2020 NFP ante IFRS 16 IFRS 16 4service NFP impact * From 1st January 2019
Slide 16: Index
Index > Tesmec Group at a glance > 2020.9M results > Outlook > COVID-19 > ANNEX A - 2020.9M Profit & Loss statement - Balance Sheet > ANNEX B - Business strategy deep dive 30 October 2020 16
Slide 17: Strategy of growth
Strategy of growth ▪ Focus on existing business ▪ From equipment manufacturer to solution provider able to provide added value services Corporate for the customers strategy ▪ Focus on maintenance and management of infrastructures in addition to their construction to increase recurring revenues strea
Slide 18: 2020-2023 Business Plan guidelines - Confirmed
2020-2023 Business Plan guidelines - Confirmed 2019pf 2020pf 2023 >> Significant performance of the Energy Automation TURNOVER 199.6 M€ ~ 170 M€ segment; Stringing segment back to historical 275 ~ 290 M€ performances cagr19-23: 8.5%~10.0% >> Focus on recurring revenues (rental & services) >> Growth
Slide 19: Index
Index > Tesmec Group at a glance > 2020.9M results > Outlook > COVID-19 > ANNEX A - 2020.9M Profit & Loss statement - Balance Sheet 30 October 2020 19
Slide 20: COVID-19 impact
COVID-19 impact Different impacts on the several businesses and key countries of the Group 1st PHASE Stop of the production activities in Europe Health emergency No impacts in the Tesmec markets/sector but delays due to the production and logistic lock down 1st 2nd PHASE Essential services granted i
Slide 21: Index
Index > Tesmec Group at a glance > 2020.9M results > Outlook > COVID-19 > ANNEX A - 2020.9M Profit & Loss statement - Balance Sheet 30 October 2020 21
Slide 22: Summary 2020.9M Profit & Loss statement - Appendix A
Summary 2020.9M Profit & Loss statement - Appendix A Delta vs Profit & Loss Account (Euro mln) 2020.9M 2019.9M Delta % 2019.9M Net Revenues 116,8 144,2 (27,4) -19,0% Raw materials costs (-) (49,8) (63,2) 13,4 -21,2% Cost for services (-) (21,0) (26,4) 5,4 -20,5% Personnel Costs (-) (35,3) (38,7) 3,4
Slide 23: Summary 2020.9M Balance Sheet - Appendix B
Summary 2020.9M Balance Sheet - Appendix B Balance Sheet (€ mln) 2020.9M 2019 Inventory 78,1 69,9 Work in progress contracts 16,6 16,3 Accounts receivable 61,0 67,9 Accounts payable (-) (55,1) (57,5) Op. working capital 100,6 96,7 Other current assets (liabilities) (21,2) (23,6) Net working capital
Slide 24: Notes Disclaimer
Notes The pro-forma results were prepared for illustrative purposes only, and were obtained by making appropriate pro-forma adjustments to the historical data to retroactively highlight the effects of the 4Service Group's transaction, as if this transaction had occurred on 1st January 2020, instead
Slide 25: www.tesmec.com
TESMEC www.tesmec.com