Slide 1: Full Year 2021 Financial Results
Naples Metro – Capodichino Station, Line 1 Extension, Italy Milan – Genoa High-Speed Railway, Italy Full Year 2021 Financial Results Naples – Bari High-Speed Railway, Italy Forrestfield Airport Link, Australia March 18, 2022
Slide 2: Agenda
Agenda Business Update Pietro Salini Chief Executive Officer Financial Update Massimo Ferrari General Manager Corporate and Finance Q&A 2
Slide 3: 2021 Key Highlights
2021 Key Highlights RECOVERY OF OPERATIONS AND STRONG BALANCE SHEET ▪ Strong rebound in operations vs 2020 despite pandemic: revenues +40%; EBITDA +95% ▪ Positive year-end financial position (net cash) of €467m, best result ever; gross debt down by >€900m ▪ On track to deliver €120m cost efficiency
Slide 4: 2021 Financial Highlights
2021 Financial Highlights Book-to-bill Revenues EBITDA margin Net Cash Position 1.8x €6.7bn 6.7% €467m 0.6x in FY 2020 €4.8bn in FY 2020 4.8% in FY 2020 Net Debt €442m in FY 2020 >1.0 Slight decrease €0.3-0.5bn 2021 €6.5-7.2bn GUIDANCE average 2021-23 versus ~8% targeted Net Debt Backlog Backlog tha
Slide 5: Outstanding order intake and intense high-quality commercial activity
Outstanding order intake and intense high-quality commercial activity Key Facts Record new orders in core markets: Italy, Australia, United States, France and Austria Europe Italy €5.6bn North America €11.3bn €2.0bn AUSTRIA Brennero Tunnel H41 - €0.7bn Sillschlucht Pfons Pedemontana Fortezza-Ponte G
Slide 6: Italy becomes core market with major PNRR infrastructure investments
Italy becomes core market with major PNRR infrastructure investments Key Facts Contracts assigned in Italy(1) more than doubled since 2016 PNRR funds assigned to strategic infrastructure projects €bn €bn €24bn of infrastructure +85% projects still to be tendered in next coming 16.5 +65% years 12.2 >
Slide 7: Record construction backlog at over €36bn
Record construction backlog at over €36bn Key Facts 2021 Construction Backlog by geography Main countries per area: Italy; 44% (37%) +10% vs FY 2020 Italy Europe €45.4bn Europe; 10% North America (9%) total backlog, of which South €37bn Australia America; 7% €36.8bn construction(1) (8%) Middle East
Slide 8: ESG at core of Webuild’s strategy
ESG at core of Webuild’s strategy Pillar 1: Contribute to Global Challenges Advancing Sustainable Development Goals(1) to be delivered with our backlog EU Taxonomy eligibility We help clients in sustainability 7,000+ 857 M 14,400+ 99% mobility, water, hydropower and additional m³ of treated MW of ne
Slide 9: Webuild group’s sustainability goals
Webuild group’s sustainability goals #WeInvest in Sustainability Sustainability …has been clustered in 3 pillars… …with clear and ambitious targets priorities identified… Target KPI 2021 Green Builders Fighting climate change Lost Time Injury -40% -31% Frequency(1) 2022 vs 2017 vs 2017 Promoting a c
Slide 10: Deliver value with strong backlog, greater efficiency, cash flow and new business lines
Deliver value with strong backlog, greater efficiency, cash flow and new business lines Main drivers ▪ Execute order backlog that covers >89% of 2022-24 targeted revenues with strict control over cost and contract management ▪ Continue to consolidate presence in Italy amid increase in infrastructure
Slide 11: 2022-2024 financial trajectory
2022-2024 financial trajectory 2022 2024 2021 target trajectory Sustainable Average Book-to-bill >1.0x growth (€bn) 8.2-8.5 Rigorous project Revenues 6.7 7.0-7.5 management Efficiency EBITDA 7.2%(1) 7.0%-7.5% >8.0% margin Cash generation (€m) 467 Net Cash Position Maintain Net Cash Position New busi
Slide 12: Financial Update
Agenda Financial Update Massimo Ferrari General Manager Corporate and Finance 12
Slide 13: Operating performance above pre-pandemic levels
Operating performance above pre-pandemic levels Operating results (€m) +40% 6,691 5,331 Excluding Top line growth by 40% as 4,766 COVID-19 a result of operational 7,386 effects resumption of construction Revenues sites and Astaldi acquisition (1) (1) 2019 2020 2021 EBITDA 7.9% 4.8% 6.7% 7.2% margin
Slide 14: >80% Revenue generated from low-risk countries
>80% Revenue generated from low-risk countries(1) Revenues in FY 2018 Revenues by activity(3) Revenues in FY 2020 Sustainable Clean Water; 6% 18% Revenues in FY 2021 14% Mobility; 65% 12% Other; 8% Green Buildings; 5% Europe 32% Clean Hydro 22% Energy; 16% 28% 29% 26% 10% 21% Continuing focus on pro
Slide 15: Profit and loss
Profit and loss Net Financial expenses 1 2020(1) 2021(1) Var (€m) (€m) 2020(1) 2021(1) Var Bank charges, commissions and guarantees (58) (54) 4 Bond charges (42) (69) (27) EBIT 30 198 168 Leasing (6) (8) (2) Financial income 81 88 7 Other (50) (59) A (9) Financial expenses (156) (190) (35) Financial
Slide 16: Positive cash flow generation: 2021 closed with net cash and gross debt down by €906m
Positive cash flow generation: 2021 closed with net cash and gross debt down by €906m Key Facts Strong cash flow generation: : €909m of improvement compared with year-end 2020 OFCF: €1.06bn €467m (€m) 965 Net cash in 2021 (€909 improvement (154) (104) 909 vs 2020) (117) (53) (47) (50) 469 >€900m Gro
Slide 17: Limited debt maturities until 2024
Limited debt maturities until 2024 Key Facts M/L Corporate Debt – pro forma after January 2022 issuance Average M/L Corporate 3.8% €400m 12% Cost of Debt new bond in Jan. 2022 Fixed Rate composition Duration (years) 3.69 Variable 88% Cost of new issues decreased by 200bps >85% since December 2020 co
Slide 18: Revenues, EBITDA development supported by solid backlog and cost efficiency plan
Revenues, EBITDA development supported by solid backlog and cost efficiency plan 2022-24 revenues covered by existing 2022-24 expected revenues Construction backlog geographic Key Facts backlog geographic distribution distribution evolution Italy; ~40% >89% 2022-24 revenues covered by current Europe
Slide 19: On track to create operating efficiencies and capture Astaldi synergies
On track to create operating efficiencies and capture Astaldi synergies Key Facts Key work streams Progress Key action 20+ initiatives related to personnel & €120m facility management, consulting, travelling; Corporate Benefits expected on 1 branch reorganization and adoption of and Branches spans &
Slide 20: Potential upside to targets
Potential upside to targets Key Facts Infrastructure network maintenance Innovation as enabler to build sustainable projects efficiently >600,000km of roads and highways, of which the vast Robot monitoring/cleaning Vertical Risers majority with more than 50 years, and >16,000km of railways €9-11bn y
Slide 21: Appendix
Appendix 21 webuild G
Slide 22: Income Statement
Income Statement Webuild Group Reclassified statement of profit or loss adjusted FY 2020 Adjusted FY 2021 Adjusted Joint ventures Condotte Joint ventures not CAVTOMI Webuild Webuild not PPA backlog Impairment out-of- Impairment controlled by PPA backlog Ethiopian non- Group Adjusted Group Adjusted c
Slide 23: Income Statement
Income Statement (*) The reclassified 2020 statement of profit or loss figures have been restated considering the final results of the Purchase Price Allocation of Astaldi (**) The estimated charge, amounting to € 131.9 million, relating to the development of the dispute with the Customer in relatio
Slide 24: Statement of Financial Position
Statement of Financial Position (*) The statement of financial position figures at 31 December 2020 have been restated considering the final results of the Purchase Price Allocation of Astaldi (**) This item shows assets of € 15.8 million classified in net financial indebtedness and related to the G
Slide 25: Net Financial Position
Net Financial Position Full Year 2021 Financial Results 25
Slide 26: Safe Harbour
Safe Harbour This presentation may contain forward-looking objectives and statements about Webuild’s financial situation, operating results, business activities and expansion strategy. These objectives and statements are based on assumptions that are dependent upon significant risk and uncertainty f
Slide 27: Thank you
Thank you