A.b.p. Nocivelli S.p.a. · MIL:ABP
A.b.p. Nocivelli — Nocivelli ABP — H1 2023/2024 Earnings Presentation
27 slides from A.b.p. Nocivelli's earnings presentation, 2024
Slide 1: Nocivelli ABP H1 2023/2024 Financial Results
NOCIVELLI ABP H1 2023/2024 Financial Results
Slide 2: Agenda
AGENDA 1. COMPANY AT A GLANCE 2. FINANCIAL HIGHLIGHTS H1 ‘23/’24 3. KEY TAKEAWAYS & FUTURE OUTLOOK 4. Q&A ANNEX ABP | H1 2023/2024 RESULTS 2
Slide 3: Agenda
AGENDA 1. COMPANY AT A GLANCE 2. FINANCIAL HIGHLIGHTS H1 ‘23/’24 3. KEY TAKEAWAYS & FUTURE OUTLOOK 4. Q&A ANNEX ABP | H1 2023/2024 RESULTS 3
Slide 4: Leader in supplying PA with energy services
LEADER IN SUPPLYING PA WITH ENERGY SERVICES Nocivelli ABP is specialised in supplying public administrations with energy services thanks to a solid know- how gained over the last 60 years, which includes the promotion of PPP projects (involving the building of hospitals and the supply of energy and
Slide 5: More than 60 years of successful achievements
MORE THAN 60 YEARS OF SUCCESSFUL ACHIEVEMENTS Business diversification. The company enters new Awarded tender in RTI* businesses switching to natural IPO AIM Italia – Now - Energy efficiency and seismic upgrading of a gas in heating systems. Euronext Growth Milan. Renovation and expansion of the sch
Slide 6: Key factors for success
KEY FACTORS FOR SUCCESS Integrated Offer Know-how Certifications Long-lasting Solid BS and High visibility experience financial growth with over 800 m backlog 6 ABP | H1 2023/2024 RESULTS
Slide 7: Business units
BUSINESS UNITS 1 SERVICES Technological and facility management services v Energy: supply of goods and services aimed at maintaining the “comfort conditions” of buildings, while focusing on the optimised use of resources v Heat: management of the entire cycle of technological systems, energy supply,
Slide 8: PPPs sponsored by private companies
PPPs SPONSORED BY PRIVATE COMPANIES • Public bodies and private companies cooperate to fund, design, build and PPP manage public infrastructure or services with a long-term view Public-Private Partnership • The company’s interest is aligned to the PA’ through long-term agreements (average length 25Y
Slide 9: Agenda
AGENDA 1. COMPANY AT A GLANCE 2. FINANCIAL HIGHLIGHTS H1‘23/’24 3. KEY TAKEAWAYS & FUTURE OUTLOOK 4. Q&A ANNEX ABP | H1 2023/2024 RESULTS 9
Slide 10: Value of production keeps growing
VALUE OF PRODUCTION KEEP GROWING VALUE OF PRODUCTION REVENUES 42.6M 39.6M Revenues slightly decreasing manly due to the delay accumulated by the YOY GROWTH +4.5% (40.8M as 31.12.2022) - 5.2% public administration in approving the preliminary design necessary for (41.8 M as 31.12.2022) the execution
Slide 11: Solid and positive margins confirmed
SOLID AND POSITIVE MARGINS CONFIRMED Values in €mln EBITDA EBIT NET INCOME 9.3M 8.2M 6.4M +2.0% YOY +1.0% YOY +8.8% YOY GROWTH GROWTH GROWTH EBITDA MARGIN EBIT MARGIN NET INCOME MARGIN 21.9% 19.2% 15.0% ABP | H1 2023/2024 RESULTS 11
Slide 12: Profitability in line with previous period
PROFITABILITY IN LINE WITH PREVIOUS PERIOD EBITDA (€mln) EBIT (€mln) Ebitda% 12 30.0% Ebit% 23.8% 22.5% 21.9% 20 30.0% 9.3 21.2% 19.8% 9.2 19.2% 16 8 7.1 12 EBITDA (€m) EBITDA % 8.1 8.2 +2.0% 8 EBIT (€m) 4 YoY 6.3 EBIT% +1.0% 4 20 YoY 0 -40.0% 0 (40.0%) 16 H1 2021-2022 H1 2022-2023 H1 2023-2024 H1 2
Slide 13: Continuous improvement of the financial position
CONTINUOUS IMPROVEMENT OF THE FINANCIAL POSITION Net financial position (cash) €mln Shareholders’ Equity €mln H1 2022-2023 FY 2022-2023 H1 2023-2024 67.7 62.8 57.9 -40.1 -45.2 -49.9 The financial position cash positive for 49.9 mln H1 2022-2023 FY 2022-2023 H1 2023-2024 improved compared to the slig
Slide 14: Agenda
AGENDA 1. COMPANY AT A GLANCE 2. FINANCIAL HIGHLIGHTS H1 ‘23/’24 3. KEY TAKEAWAYS & FUTURE OUTLOOK 4. Q&A ANNEX ABP | H1 2023/2024 RESULTS 14
Slide 15: Key takeaways and future outlook
KEY TAKEAWAYS AND FUTURE OUTLOOK 1 The financial performance in the first half of 2023-2024 period proves that the company is proceeding regularly with the execution of contracts ensuring positive profitability. The company has recent started the works for the modernization and safety of the Gavardo
Slide 16: Agenda
AGENDA 1. COMPANY AT A GLANCE 2. FINANCIAL HIGHLIGHTS FY ‘22/’23 3. STRATEGIC ACHIEVEMENTS & UPDATES Q&A ANNEX ABP | H1 2023/2024 RESULTS 17
Slide 17: Q&A
Q&A
Slide 18: Agenda
AGENDA 1. COMPANY AT A GLANCE 2. FINANCIAL HIGHLIGHTS FY ‘22/’23 3. STRATEGIC ACHIEVEMENTS & UPDATES 4. Q&A 5. APPENDIX ABP | H1 2023/2024 RESULTS 19
Slide 19: Appendix 1: Shareholding & Governance
APPENDIX 1: SHAREHOLDING & GOVERNANCE Free Float 11.3% Alessandra Perego Bruno Nocivelli 0.9% 57.6% Nicola Turra 3.5% Bruno N ocive lli Laura Salvatore Laura Salvatore Nicola Turra 26.6% Alessandra Pe rego Fre e Float Board of Directors Board of Auditors Bruno Nocivelli – CHAIRMAN AND CEO Beatrice B
Slide 20: Appendix 2: Profit & Loss
APPENDIX 2: PROFIT & LOSS H1 2022-2023 H1 2023-2024 % change PROFIT & LOSS 31.12.2022 31.12.2023 H1 '22/'23 - H1 '23/'24 Revenues 41.8 39.6 -5.2% Other revenues and change in WIP (1.0) 3.0 -395.0% Value of production 40.8 42.6 4.5% EBITDA 9.2 9.3 2.0% EBITDA margin 22.5% 21.9% -0.6bp D&A and other (
Slide 21: Appendix 3: Balance Sheet
APPENDIX 3: BALANCE SHEET BALANCE SHEET FY 2022-2023 H1 2023-2024 % change 30.06.2023 31.12.2023 H1 '22/'23 - H1 '23/'24 Intangible fixed assets 7.8 7.5 -4.5% Tangible Fixed Assets 0.3 0.3 0.8% Financial Fixes assets 0.8 0.8 0.0% Fixed assets 8.9 8.6 -3.9% Inventories 12.1 14.6 19.9% Trade Receivabl
Slide 22: Appendix 4: Cash Flow
APPENDIX 4: CASH FLOW CASH FLOW H1 2022-2023 H1 2023-2024 Reclassified statement (€/m) 31.12.2022 31.12.2023 Operating cash flow before change in NWC+/- 9.6 9.2 +/-Change in NWC 0.1 2.2 -Interest, taxes, other -1.4 0.6 Operating cash flow 8.2 11.9 -Capex -1.5 -0.6 -Other 0.0 0.0 Investing activity -
Slide 23: Appendix 5: Key player in all industry's segments
APPENDIX 5: KEY PLAYER IN ALL INDUSTRY’S SEGMENTS SERVICES – FACILITY MANAGEMENT ENGIE SPA BU SERVICES SIRAM SPA REKEEP SPA BU CONSTRUCTION/SERVICES CPL SPA COMPETITOR/PARTNER PPP EDISON SPA MIECI SPA CMB SPA APLONA SPA ITINERA SPA ANTAS SPA WEBUILD SPA (EX SALINI IMPREGILO) SALC SPA RIZZANI DE ECCH
Slide 24: Appendix 6: Traditional public tender, and PPP
APPENDIX 6: “TRADITIONAL” PUBLIC TENDER, AND PPP • Given the typical size of the projects Novicelli usually bids as a part of a temporary consortium, ATI or RTI (respectively Associazione Temporanea d’Imprese or Raggruppamento Temporaneo d’Imprese). The entity is usually a “consortium-like joint-sto
Slide 25: Appendix 7: Certifications
APPENDIX 7: CERTIFICATIONS “SOA certified”, i.e. legally allowed to bid for public tenders (requirements checked every five years) • “General construction” ü OG 11 “Technological systems”, class VIII: supply, installation, management and maintenance of technological systems; ü OG 1 “Civil and indust
Slide 26: Safe Harbour
SAFE HARBOUR This presentation may contain forward looking objectives and statements about Nocivelli ABP (“Nocivelli ABP” or “the Company”) financial situation, operating results, business activities and expansion strategy. These objectives and statements are based on assumptions that are dependent
Slide 27: Thank you for your time
THANK YOU FOR YOUR TIME www.abpnocivelli.com investor.relations@abpnocivelli.com nocivelli-spa@twin.services