Edil San Felice S.p.a. · MIL:ESF
Edil San Felice — Investor Presentation (October 2024)
30 slides from Edil San Felice's investor presentation, Oct 2, 2024
Slide 1: Investor Presentation
INVESTOR PRESENTATION Oct 2, 2024
Slide 2: People Speaking Today
PEOPLE SPEAKING TODAY LORENZO DI PALMA VINCENZO DI PIETRO MARIKA SGRITTO CEO & FOUNDER CFO IR +20 years of experience at +25 years of experience in accounting Graduate in Business economics Edil San Felice finance and control for companies in the Master’s degree in Finance construction and infrastru
Slide 3: Agenda
AGENDA 1. ESF Overview 2. ESF Business Model 3. ESF Key Facts 4. ESF Strategy 5. ESF Sustainability
Slide 4: ESF Overview
1. ESF OVERVIEW
Slide 5: Active in the maintenance sector for more than 40 years
ACTIVE IN THE MAINTENANCE SECTOR FOR MORE THAN 40 1979 1982 1997 2002 The San Felice The company becomes The cooperative “Zero Outsourcing” is cooperative is born a contractor for becomes a joint introduced Lorenzo Di Palma, Lorenzo Francesco Di Autostrade company Carlo Di the founder’s grandson of
Slide 6: Snapshot of 1H 2024 results: another semester of robust organic growth
SNAPSHOT OF 1H 2024 RESULTS: YET ANOTHER SEMESTER OF ROBUST ORGANIC GROWTH Total Backlog New orders Revenues EBITDA Net Income €114.8mn €57.8mn(1) €24.6mn €5.7mn €4.2mn Hard Backlog: € 62.5mn From January to Higher than Up net of Capex Maintained positive Soft Backlog: € 52.3mn(1) FY2020 revenues in
Slide 7: One year ago..
One year ago.. Wednesday, June 5, 2024. ESF: 4,50 Even without extraordinary transactions, the stock market has been able to appreciate Edil San Felice's growth. The stock has gained more than 60 percent since its landing on Piazza Affari a year ago (September 27, 2023), at a time when small caps ha
Slide 8: ESF Business Model
2. ESF ESF BUSINESS OVERVIEW MODEL
Slide 9: Full control over the awarding and execution process
FULL CONTROL OVER THE AWARDING AND EXECUTION PROCESS 1. PARTECIPATION 2. AWARDING Average of 2 months between tender awarding and project start 3. EXECUTION - Signing of contracts (the value enters into the backlog; - Work start; - Periodic WIP notice to the 4. CASH IN client (bimonthly typically) 6
Slide 10: Resilient growth play to bet on infrastructure maintenance
RESILIENT GROWTH PLAY TO BET ON INFRASTRUCTURE MAINTENANCE 37%* O U ORDINARY MAINTENANCE R Activities made to preserve and keep the serviceable condition of highways as normal as possible RECURRENT BUSINESS LOWER RISK OF BACKLOG DELAYS M PROXIMITY BUSINESS A GARGASSA VIADUCT MADONNELLA VIADUCT ALENT
Slide 11: Full control over the execution process
FULL CONTROL OVER THE EXECUTION PROCESS «ZERO-OUTSOURCING» The production will continue to build on the policy that has rewarded ESF so far: zero subcontracting, which has allowed ESF to protect the safety of workers, reducing risks and maximising operational efficiency. «RELIABILITY, VERSATILITY, E
Slide 12: ESF Key Facts
3. ESF KEY FACTS OVERVIEW
Slide 13: Key Facts
KEY FACTS 1. NEW ORDER FROM GEN – 24: Signed new two-year Framework Agreement with renewal option of max 24 months for the contracting of Ordinary and Recurring Maintenance services in the freeway section of the DT3 - Bologna Direction Section in the amount of € 4 Mln. GIU – 24: ESF signed 3 new con
Slide 14: Half-Year Overview
HALF-YEAR OVERVIEW BACKLOG AT Eu114.8mn FURTHER GROWING THANKS TO NEW AWARDINGS 1H24 HIGHLIGHTED STRONG VoP THANKS TO AN ACCELERATION IN EXTRAORDINARY BUSINESS OUTSIDE CAMPANIA FOR A TOTAL VALUE OF Eu24.6mn (63% ON NET REVENUES) HEALTHY EBITDA AT Eu5.6mn CONFIRMING PROFITABILITY AT ABOVE 23% SOLID C
Slide 15: Full-Year Overview
FULL-YEAR OVERVIEW AS ESF MAINTENANCE SERVICES ARE DELIVERED IN A SHORT PERIOD (SERVICE-LIKE), MOST OF THE BACKLOG TURNS INTO REVENUES IN THE FOLLOWING 12 MONTHS, GIVING STRONG TOP LINE VISIBILITY ON CURRENT ACCOUNTING PERIOD. 22,5 Backlog ORDINARY MAINTENACE: All awarded tenders are included in the
Slide 16: Facing the future with confidence
FACING THE FUTURE WITH CONFIDENCE ROAD TO (1) (2) 2024 2023 2024E Ongoing Maintenance Plan 2020-2038 Total backlog €mn 80.5 Eu 7 Bn 45.8 > 50 Maintenance in 2020-2038 Revenues €mn EBITDA €mn 11.6 > 12 Ongoing investment plan 2022-2031 Net cash position (5.1) >9 €mn Eu 50 Bn With a significant share
Slide 17: ESF Strategy
4. ESF STRATEGY OVERVIEW
Slide 18: M&A to speed-up growth in adjacent attractive markets
M&A TO SPEED-UP GROWTH IN ADJACENT ATTRACTIVE MARKETS RAILWAYS RESTORATION OF CULTURAL HERITAGE SITES Looking for a company active in railways maintenance In October 2023, ESF has completed the acquisition of the entire services to growth in an adjacent sector. A potential one, (100%) shareholding o
Slide 19: Vertical integration
VERTICAL INTEGRATION METAL CARPENTRY & SIGNALLIGN Edil San Felice has finalised the agreement for the acquisition of a new industrial site in Nola, adjacent to the current headquarters, to increase its production capacity in particular aimed at (i) expanding its road and airport signaling business,
Slide 20: ESF Sustainability
5. ESF SUSTAINABILITY OVERVIEW
Slide 21: SDG Mapping
SDG MAPPING ESF IS COMMITTED TO OPERATING RESPONSIBLY, INTEGRATING SUSTAINABILITY INTO ITS BUSINESS MODEL Integration of the SDGs in the business model 12 of the 15 SDGs were considered key, based on their coherence with the company’s business model and sector as well as its ability to contribute to
Slide 22: Sustainable supply chain management
PEOPLE SPEAKING SUSTAINABLE SUPPLY CHAIN MANAGEMENT TODAY ESF IS INVOLVED IN SOME PROJECTS TO ENSURE CIRCULAR MANAGEMENT OF MATERIALS AND SUSTAINABLE PROCUREMENT ESF HAS STARTED TO CONSUME RENEWABLE ENERGY Return of used batteries with the aim of Using Mapei’s sustainable mortars Production and cons
Slide 23: Human Capital
PEOPLE HUMAN CAPITAL SPEAKING TODAY GOVERNANCE 50% of the BoD are in the 35-50 age group, while the remaining half are in the >50 age Group while the remaining half is in the >50 age group. The management team includes a significant proportion of women, with 5 out of 13 members, almost all of whom u
Slide 24: Governance and shareholdings structure
GOVERNANCE AND SHAREHOLDINGS STRUCTURE POST-IPO SHAREHOLDING POST-IPO PERIMETER BOD LORENZO DI PALMA BENEFIT CEO 11% CORPORATION CARMELO INTRISANO 6% CHAIRMAN NICOLA ROSSI 7% INDEPENDENT DIRECTOR CARLO DI PALMA 100% 90% DIRECTOR 76% FABIOLA DE SARNO Wesigns S.r.l. (Italy) Aurest S.r.l. (Italy) Compa
Slide 25: Appendix
APPENDIX ay Foard
Slide 26: Balance Sheet
Balance Sheet Giu-24 Dic-23 Var % (Figures in thousands of Euro) Intangible fixed assets 1.024 1.095 -6,4% Tangible fixed assets 12.164 10.658 14,1% (i) Net Working Capital is calculated as the sum of inventories, Financial fixed assets 440 445 -1,0% trade receivables, trade payables, other current
Slide 27: Income Statement
Income Statement At 30 June 2024 % (i) 2023 % (i) Var % (Figures in thousands of Euro) Revenues from sales 21.177 85,9% 18.353 85,4% 15,4% Changes in contracted work in progress 2.900 11,8% 2.494 11,6% 16,3% Increases in fixed assets for internal - 0,0% 11 0,0% -100,0% (i) As a percentage of Product
Slide 28: Net Financial Position
Net Financial Position Jun-24 Dec-23 Var % (Figures in thousands of Euro) A. Cash and cash equivalents 5.898 5.261 12,1% B. Cash equivalents to liquid assets - - n/a C. Other current assets 7.166 7.010 2,2% D. Liquidity (A) + (B) + ( C ) 13.064 12.272 6,5% E. Current financial debt 894 923 -3,1% (i)
Slide 29: Key Takeaways
KEY TAKEAWAYS 6.ESF SUSTAINABILITY
Slide 30: Question & Answer
QUESTION & ANSWER CONTACTS Via On.le Davide Barba S.C. 80035 - Nola (NA) +39 081 213 86 info@edilsanfelice.it ir@edilsanfelice.it
Edil San Felice — Investor Presentation (October 2024) on 6ix