A.b.p. Nocivelli S.p.a. · MIL:ABP
A.b.p. Nocivelli — FY2022/2023 Earnings Presentation
27 slides from A.b.p. Nocivelli's earnings presentation, Sep 26, 2023
Slide 1: Full Year 2022/2023 Results
NOCIVELLI ABP Full Year 2022/2023 Results 26th September 2023
Slide 2: Agenda
AGENDA 1. COMPANY AT A GLANCE 2. FINANCIAL HIGHLIGHTS FY ‘22/’23 3. STRATEGIC ACHIEVEMENTS & UPDATES 4. Q&A 5. APPENDIX ABP | FY RESULTS 2022/2023 3
Slide 3: Safe Harbour
SAFE HARBOUR This presentation may contain forward looking objectives and statements about ABP Nocivelli (“Nocivelli” or “the Company”) financial situation, operating results, business activities and expansion strategy. These objectives and statements are based on assumptions that are dependent upon
Slide 4: Agenda
AGENDA 1. COMPANY AT A GLANCE 2. FINANCIAL HIGHLIGHTS FY ‘22/’23 3. STRATEGIC ACHIEVEMENTS & UPDATES 4. Q&A 5. APPENDIX ABP | FY RESULTS 2022/2023 5
Slide 5: Leader in supplying PA with energy services
LEADER IN SUPPLYING PA WITH ENERGY SERVICES Nocivelli 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 faci
Slide 6: A story of achievements since 1963
A STORY OF ACHIEVEMENTS SINCE 1963 Business diversification. The company enters new IPO AIM Italia – Now businesses switching to natural May gas in heating systems. Euronext Growth Milan. Renovation and expansion of the Awarded tender in RTI* for Realisation of technological, Award for the supply of
Slide 7: 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 ABP | FY RESULTS 2022/2023 8
Slide 8: 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 9: 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 10: Agenda
AGENDA 1. COMPANY AT A GLANCE 2. FINANCIAL HIGHLIGHTS FY ‘22/’23 3. STRATEGIC ACHIEVEMENTS & UPDATES 4. Q&A 5. APPENDIX ABP | FY RESULTS 2022/2023 11
Slide 11: Steady and robust revenues growth
STEADY AND ROBUST REVENUES GROWTH REVENUES 73.9M VALUE OF PRODUCTION +43.1% 75.1M +22.4% YOY GROWTH YOY GROWTH 10 - YEARS BACKLOG 75.1 800M 64.2 61.3 New contracts and extension of existing contracts until 2033 3 - YEARS BACKLOG 300M Values in €mln FY 2020/21 FY 2021/22 FY 2022/23 Infrastructure pro
Slide 12: Keeping strong marginality at all levels
KEEPING STRONG MARGINALITY AT ALL LEVELS Values in €mln EBITDA EBIT NET INCOME 15.3M 13.4M 10.6M +9.6% YOY +8.7% YOY +10.9% YOY GROWTH GROWTH GROWTH EBITDA MARGIN EBIT MARGIN NET INCOME MARGIN 20.4% 17.9% 14.1% ABP | FY RESULTS 2022/2023 13
Slide 13: Sustainable profitability
SUSTAINABLE PROFITABILITY EBITDA (€mln) EBIT (€mln) 20 30.0% 20 Ebitda% 30.0% Ebit% 22.7% 20.2% 19.1% 20.4% 17.4% 17.9% 16 15.3 16 13.9 13.4 12.3 12.4 12 12 11.2 8 8 +9.6% YoY +8.7% 4 YoY 4 0 -40.0% 0 -40.0% FY 2020/21 FY 2021/22 FY 2022/23 FY 2020/21 FY 2021/22 FY 2022/23 17 30.0% 15.6% 14.1% 13 13
Slide 14: Capability to maintain a positive cash generation
CAPABILITY TO MAINTAIN A POSITIVE CASH GENERATION Net financial position (cash) €mln Shareholders’ Equity €mln FY2020/21 FY 2021/22 FY 2022/23 62.8 53.7 44.2 -31.5 -39.7 -40.1 Slight increasing of net financial position to Euro 40.1 million as of 30 June 2023 confirming FY2020/21 FY 2021/22 FY 2022/
Slide 15: Agenda
AGENDA 1. COMPANY AT A GLANCE 2. FINANCIAL HIGHLIGHTS FY ‘22/’23 3. STRATEGIC ACHIEVEMENTS & UPDATES 4. Q&A 5. APPENDIX ABP | FY RESULTS 2022/2023 16
Slide 16: A year of successful achievements
A YEAR OF SUCCESSFUL ACHIEVEMENTS Partner with competitors being a strategic suppliers for long-term, low-risk and inflation-hedged contracts Tender award for Euro 1.5 mln May 2023 Won a tender worth Euro 5 million as part of a temporary consortium with the company Pavoni SpA for the energy efficien
Slide 17: Future outlook
FUTURE OUTLOOK 1 Nocivelli is one of the key player able to address the execution of one big issue that Italy has today, which is to find a way to appropriately use the NRRP resources on projects that improve the environmental impact, by efficiently improving the energy performance of public places
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 | FY RESULTS 2022/2023 19
Slide 19: Q&A
Q&A
Slide 20: Agenda
AGENDA 1. COMPANY AT A GLANCE 2. FINANCIAL HIGHLIGHTS FY ‘22/’23 3. STRATEGIC ACHIEVEMENTS & UPDATES 4. Q&A 5. APPENDIX ABP | FY RESULTS 2022/2023 21
Slide 21: Appendix 1: Profit & Loss
APPENDIX 1: PROFIT & LOSS PROFIT & LOSS FY 2021-2022 FY 2022-2023 % change Reclassified statement (€/m) 30.06.2022 30.06.2023 FY'21/22-22/23 Sales 51.7 73.9 43.1% Other revenues and change in WIP 9.7 1.2 -88.1% Value of production 61.3 75.1 22.4% EBITDA 13.9 15.3 9.6% EBITDA margin 22.7% 20.4% -2.3b
Slide 22: Appendix 2: Balance Sheet
APPENDIX 2: BALANCE SHEET BALANCE SHEET FY 2021-2022 H1 2022-2023 FY 2022-2023 Reclassified statement (€/m) 30.06.2022 31.12.2022 30.06.2023 Intangible Fixed assets 6.5 7.1 7.8 Tangible Fixed Assets 0.8 0.3 0.3 Financial Fixed assets 1.1 1.1 0.8 Fixed assets 8.4 8.5 8.9 Inventories 12.5 11.7 12.1 Tr
Slide 23: Appendix 3: Cash Flow
APPENDIX 3: CASH FLOW CASH FLOW FY FY Reclassified statement (€/m) 30.06.2022 30.06.2023 Operating cash flow before change in NWC+/- 14.0 15.4 +/-Change in NWC 0.7 -8.7 -Interest, taxes, other -3.6 -2.8 Operating cash flow 11.1 3.9 -Capex -3.6 -3.0 -Other 0.7 0.8 Investing activity -2.9 -2.2 Financi
Slide 24: Key player in all industry's segments
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 ECCHER SPA CONSO
Slide 25: Appendix 4: Traditional public tender, and the PPP
APPENDIX 4: “TRADITIONAL” PUBLIC TENDER, AND THE 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
Slide 26: Appendix 5: Certifications
APPENDIX 5: 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 27: Thank you for your time
THANK YOU FOR YOUR TIME www.abpnocivelli.com investor.relations@abpnocivelli.com