Tesmec S.p.a. · MIL:TES
Tesmec — Le Eccellenze del Made in Italy Conference 2025
56 slides from Tesmec's conference presentation, Oct 1, 2025
Slide 1: Le Eccellenze del Made in Italy Conference
LE ECCELLENZE DEL MADE IN ITALY CONFERENCE Milan I September 30th & October 1st, 2025 1
Slide 2: Le Eccellenze del Made in Italy 2025
LE ECCELLENZE DEL MADE IN ITALY 2025 1 TESMEC GROUP 2 BUSINESS OUTLOOK 3 H1.2025 FINANCIALS 4 ANNEX All rights reserved LE ECCELLENZE DEL MADE IN ITALY 2 Milan I October 1st, 2025
Slide 3: Tesmec at a Glance
TESMEC AT A GLANCE All rights reserved LE ECCELLENZE DEL MADE IN ITALY 3 Milan I October 1st, 2025
Slide 4: Our Vision, Our Mission
OUR VISION OUR MISSION FOR THE FUTURE FOR THE PLANET COMMITTED TO ENERGY TRANSITION, DIGITALIZATION AND ELECTRIFICATION Technology partner in markets driven by energy transition, digitalization and sustainability with INNOVATIVE, ADDED-VALUE INTEGRATED SOLUTIONS for the construction, maintenance and
Slide 5: Italian DNA, Global Footprint
16 SALES SUBSIDIARIES 7 PRODUCTION PLANTS ITALY: Grassobbio, Sirone, Monopoli, Fidenza, Patrica ITALIAN USA: Alvarado; FRANCE: Durtal DNA, GLOBAL FOOTPRINT 70+ YEARS OF EXPERIENCE 35+ PATENTS DEVELOPED 900+ EMPLOYEES WORLDWIDE TESMEC GROUP HEADQUARTERS BERGAMO, ITALY Founded in northern Italy in the
Slide 6: History of Innovation, Diversification & Growth
HISTORY OF INNOVATION, DIVERSIFICATION & GROWTH All rights reserved LE ECCELLENZE DEL MADE IN ITALY 6 Milan I October 1st, 2025
Slide 7: Energy ready to unleash energy in all its shades
ENERGY-STRINGING ENERGY-AUTOMATION READY • Solutions for power lines • Telecommunications solutions for HV Grids TO UNLEASH construction & maintenance • Advanced methodologies for • Grid Management: protection and metering solutions ENERGY automating jobsite • Advanced sensors for fault passage • Ze
Slide 8: Technological developments: the common thread of our history
TESMEC GROUP TECHNOLOGICAL DEVELOPMENTS STRINGING OF LAYING OF LAYING OVERHEAD CABLES SYSTEMS FOR ELECTRICAL ENERGY ELECTRIC CABLES UNDERGROUND CABLES FOR RAILWAY NETWORKS SUBSTATIONS THE COMMON THREAD OF OUR HISTORY ENERGY 1984 | TRENCHERS 2017 | AUTOMATION 2012 | RAILWAY • Systems and devices for
Slide 9: Drivers: Innovation, Diversification & Growth
TESMEC ADDED-VALUE SOLUTIONS AND MONITORING STRATEGIC SYSTEMS OFFER A HIGH-LEVEL PERFORMANCE IN COMPLEX PROJECTS DRIVERS INNOVATION, • Growing long-term trends in cross-cutting development drivers: DIVERSIFICATION energy transition, sustainability and digitalization • Selective approach on key growt
Slide 10: Market Drivers Transform to Grow
TESMEC ADDED-VALUE SOLUTIONS AND MONITORING SYSTEMS OFFER A HIGH-LEVEL PERFORMANCE IN COMPLEX PROJECTS MARKET IOT, BIG DATA AND ARTIFICIAL INTELLIGENCE DRIVERS • Combine Operational Data in the cloud and apply Advanced Analytics • Diagnostic and Digitalization for the Predictive Maintenance • Roboti
Slide 11: Digital Innovation: AI as a Game Changer
DIGITAL MAPPING AUTONOMOUS VEHICLES • Digitalization of existing infrastructures • Smart fleet management • Live and synchronized working environment for • Automated jobsite DIGITAL professionals • High standard safety • Virtual reconstruction of under and above earth INNOVATION PREDICTIVE MAINTENAN
Slide 12: Sustainable Innovation: Renewables as a Game Changer
ELECTRIFICATION LOW CARBON FOOTPRINT • Full electric stringing machines • Clean and Fast solutions • Hybrid and electric railcars • Innovative methodologies to reduce the environmental impact • Path towards electrification for small size trenchers • New generation of engines SMART & STRONG GRID SUST
Slide 13: ESG Strategy
ENVIRONMENT SOCIAL GOVERNANCE INCREASE GREEN & INVEST IN PEOPLE EFFECTIVE ESG DIGITAL SOLUTIONS ▪ Improving energy efficiency with increasing renewable energy sources & LOCAL COMMUNITIES ▪ Strategies for Talent Acquisition and Employer AND SUSTAINABLE GOVERNANCE ▪ Promotion of a responsible corporat
Slide 14: Business Units
TESMEC BUSINESS UNITS All rights reserved LE ECCELLENZE DEL MADE IN ITALY 14 Milan I October 1st, 2025
Slide 15: Energy Stringing
ENERGY STRINGING • SOLUTIONS FOR CONSTRUCTION AND MAINTENANCE OF ELECTRICAL NETWORKS • ADVANCED METHODOLOGIES FOR AUTOMATED CONSTRUCTION SITES • ZERO EMISSION MACHINES DIGITAL & GREEN SOLUTIONS: NEW METHODOLOGIES FOR CONSTRUCTION AND MAINTENANCE OF ENERGY TRANSPORT AND DISTRIBUTION INFRASTRUCTURES A
Slide 16: Energy – Stringing
ENERGY – STRINGING TOWER NEW POWERLINE HELICOPTER POWERLINE ERECTION CONSTRUCTION STRINGING REFURBISHMENT The perfect match between For the installation of any type The solution for the “direct Line refurbishment & hydraulic winches and derricks. of conductor, including htls. stringing” by helicopte
Slide 17: Energy – Stringing: Main Worldwide Experiences
ENERGY – STRINGING MAIN WORLDWIDE EXPERIENCES Reconductoring Underground Cable Laying Stringing Machines 4.0 Fjord crossing USA UK BELGIUM NORWAY Continuous Linear Puller Romford 4.0 Machines Special machines for fjord crossing Type of line: transmission, 3 x 33 kV cable pulling and modular machines
Slide 18: Reconductoring, Digital Stringing Machine, Helicopter Stringing
RECONDUCTORING OPERATIONS Digital Stringing Machine HELICOPTER STRINGING CHINA Extreme project in Zhejiang Province All rights reserved Tower height: 380 m LE ECCELLENZE DEL MADE IN 18 18ITALY Four bundled conductors 500 kV Milan I October 1st, 2025
Slide 19: From Energy Stringing to Energy Automation
FROM ENERGY STRINGING... BU ENERGY STRINGING OH DIVISION OH OH OH HV PS SS UG UG UG PRODUCTION TRANSMISSION DISTRIBUTION PROSUMER OH UG HV PS SS OVERHEAD UNDERGROUND SUBSTATION PROTECTION, Solutions for the Complete range for AUTOMATION MONITORING installation and cable laying and SYSTEMS (SAS) AND
Slide 20: Energy Automation
ENERGY AUTOMATION • PROTECTION & MONITORING SOLUTIONS • REMOTE CONTROL SOLUTIONS • SERVICE TELECOMMUNICATIONS SOLUTIONS FOR HV GRIDS • SMART METERING SOLUTIONS GRID RELIABILITY, EFFICIENCY AND SECURITY: A FULL PORTFOLIO OF POWER GRID TECHNOLOGIES, TAILORED AND INTEGRATED SOLUTIONS TO FACE FAST-CHANG
Slide 21: Energy – Automation
ENERGY – AUTOMATION SUBSTATION SERVICE AUTOMATION SYSTEMS PROTECTION & MONITORING TELECOMMUNICATIONS Protection and control systems for HV Integrated solution for protection, substations. control and automation of modern Integrated solution of service and complex electric systems.. telecommunication
Slide 22: Energy – Automation: Main Worldwide Experiences
ENERGY – AUTOMATION MAIN WORLDWIDE EXPERIENCES Telecommunication Substation Automation solution System ALGERIA ITALY Remote management of HV Protection and control systems for HV substations and protection substations (SAS) based on IEC 61850 systems against unexpected grid faults Fault Passage Indi
Slide 23: Protection and Monitoring Solutions
PROTECTION AND MONITORING SOLUTIONS for primary and secondary substations All rights reserved Telecommunication LE ECCELLENZE DEL MADE IN23 ITALY solution 23 Milan I October 1st, 2025
Slide 24: Trenchers & Surface Miners
TRENCHERS & SURFACE MINERS • TELECOM NETWORKS, FTTH & LONG DISTANCE, POWER CABLE INSTALLATION • OIL & GAS, WATER PIPELINES, RENEWABLES • BULK EXCAVATION, QUARRIES & SURFACES MINING ADVANCED WORKING METHODOLOGY: INTEGRATED SYSTEMS & TECHNOLOGICAL SOLUTIONS FOR A COMPLETE JOBSITE MANAGEMENT All rights
Slide 25: Trenchers & Surface Miners
TRENCHERS & SURFACE MINERS FIBER ENERGY PIPELINES OPTIC CABLES & UTILITIES Urban fiber optic networks Underground energy Oil and gas pipelines, (FTTx), suburban networks cables, especially in canals, water and sewage (city rings) and long- renewable energy utilities networks and distance networks DE
Slide 26: Trenchers & Surface Miners: Main Worldwide Experiences
TRENCHERS & SURFACE MINERS MAIN WORLDWIDE EXPERIENCES Fiber Optics Laying Gas Pipeline UK USA Georadar Explorer 2.0 & Sidecut 1150XHD Chainsaw Surface mining Gold Water Pipeline RUSSIA CHILE 1475 Rock Hawg 1675 Chainsaw Bauxite Mining Limestone quarry UZBEKISTAN WEST AFRICA (GUINEA, IVORY COAST) 147
Slide 27: Fiber Optics Laying and Tunneling Project
Fiber Optics Laying UK Georadar Explorer 2.0 & Sidecut TUNNELING PROJECT All rights reserved AUSTRALIA LE ECCELLENZE DEL MADE IN27 ITALY 27 1475 Rock Hawg EVO Milan I October 1st, 2025
Slide 28: Railway
RAILWAY • CATENARY INSTALLATION & MAINTENANCE • DIAGNOSTIC VEHICLES AND SYSTEMS • INTEGRATED PLATFORM FOR SAFE INFRASTRUCTURE GLOBAL CATENARY SPECIALIST FOR THE INSTALLATION AND MAINTENANCE OF RAILWAY LINES: SOLUTIONS WITH INTEGRATED SYSTEMS AND RAIL VEHICLES FOR A SAFE, EFFICIENT AND SUSTAINABLE RA
Slide 29: Railway: Catenary and Diagnostics
RAILWAY & SURFACE MINERS TRENCHERS CATENARY INSTALLATION DIAGNOSTIC OF INFRASTRUCTURE & MAINTENANCE Solutions for construction and refurbishment of railway line and Integrated systems, vehicles, solutions for the diagnostic of rail and civil Certified vehicles for catenary maintenance infrastructure
Slide 30: Railway: Main Worldwide Experiences
RAILWAY MAIN WORLDWIDE EXPERIENCES Stringing & recovering RER Catenary renewal Safety of Railway Catenary maintenance wires FRANCE ITALY 9 vehicles (6 different models) Infrastructure 88 Multipurpose railway vehicles USA ITALY 16 Revamping maintenance units Engineered to allow a correct execution of
Slide 31: Railway: Main Worldwide Experience
ELECTRIFICATION OF NEW LINES HIGH SPEED CHINA RAILWAY: Main worldwide experience > 30 stringing units 1,318 km BEIJING-SHANGHAI CUSTOMIZED SOLUTIONS POLAND 4 Stringing units Tensioning system for railway wiring operations composed by working units mounted on ISO 20 size flat modules All rights reser
Slide 32: 2025 Business Outlook
2025 BUSINESS OUTLOOK All rights reserved LE ECCELLENZE DEL MADE IN ITALY 32 Milan I October 1st, 2025
Slide 33: Transform to Grow
TRANSFORM TO GROW BUILDING ON THE STRENGTHEN THE INDUSTRIAL BASE PROFITABILITY AND CASH TRANSFORMATION AND IMPROVE CAPITAL GENERATION OVER VOLUME STARTED IN 2024 EFFICIENCY/FINANCIAL STRUCTURE LE ECCELLENZE DEL MADE IN ITALY 33 Milan I October 1st, 2025
Slide 34: From a Disruptive 2024 to Embracing a Leaner Future
FROM A LONG-TERM FLEXIBLE INDUSTRIAL FOCUSED AND TRENDS IN FOOTPRINT COHERENT PORTFOLIO POSITIVE AND INTERNATIONAL CROSS-CUTTING VALUE-DRIVEN DISRUPTIVE 2024 DEVELOPMENT PRESENCE BUSINESS MODELS DRIVERS TO EMBRACING A LEANER ENERGY AUTOMATION Significant backlog growth with FUTURE internationalizati
Slide 35: 2020-2024 Equity Story and 2025 Outlook
2020-2024 EQUITY STORY and 2025* OUTLOOK (€M) 17,2% LEVERAGING STRONG CAPABILITIES IN THE FACE OF 41,1 CURRENT MACROECONOMIC CHALLENGES AND 153,5 245,2 14,5% 147 UNCERTAINTY 236 239,5 35,2 13,9% ▪ Leverage proprietary technologies developed to seize the strong 153,5 32,8 128,4 growth opportunities i
Slide 36: Key Consolidated Financials
KEY CONSOLIDATED FINANCIALS REVENUE BY BU (% ON TOTAL REVENUE) EBITDA BY BU (EBITDA MARGIN) NET FINANCIAL POSITION (€M) (€M) (€M) TOT. TOT. TOT. 236,0 239,5 41,1 153,5 147,0 46,9 50,4 (19,9%) (21,0%) TOT. 9,5 32,8 (18,9%) 8,6 67,7 77,3 (18,3%) 11,3 (28,7%) (32,2%) (14,7%) 10,0 (14,7%) 121,4 111,9 20
Slide 37: Key Consolidated KPIs
KEY CONSOLIDATED KPIs BACKLOG SALES BY MARKETS RECURRING BUSINESS ▪ Long- term backlog in Automation and Rail ▪ Recurring: Rental, Projects, Spare Parts, Services (maintenance, ▪ Trencher backlog 2023 net of Groupe Marais revamping & refurbishing, consulting & training), LT backlog; discontinuing op
Slide 38: Business Guidelines - Trenchers
BUSINESS GUIDELINES - TRENCHERS Strengthening of the South American market due to promising Strengthening conditions in the pipeline and mining sectors, the conclusion of the South strategic deals, and the consolidation of commercial relations. American market Marketing Business development and stra
Slide 39: Business Guidelines - Rail
BUSINESS GUIDELINES - RAIL TESMEC FRANCE: Strategic platform for the growth of French activities in the railway Growth of French sector: development of a specialized center to support the Railway activities business, in France and cross the Francophone market aimed at meeting local needs for railway
Slide 40: Business Guidelines - Energy
BUSINESS GUIDELINES - ENERGY STRINGING AUTOMATION Continue leading the growth and extend the Growth at a fast pace while improving market share, we will implement strategic diversification, exploiting our current portfolio initiatives and innovative solutions. Profitability Digitalization and addres
Slide 41: Tesmec Financials
TESMEC FINANCIALS All rights reserved LE ECCELLENZE DEL MADE IN ITALY 41 Milan I October 1st, 2025
Slide 42: H1.2025 Key Consolidated Financials
H1.2025* KEY CONSOLIDATED FINANCIALS REVENUE BY BU (% ON TOTAL REVENUE) EBITDA BY BU (EBITDA MARGIN) NET FINANCIAL POSITION (€M) (€M) (€M) 183,6 TOT. TOT. 128,6 117,7 TOT. 146,4 TOT. 21,2 25,0 (19,5%) 19,4 (16,5%) 19,6 (16,7%) (16,4%) 4,5 44,4 2,3 (16,9%) 38,6 (11,8%) (32,8%) (33,7%) 6,5 7,9 (16,7%)
Slide 43: 1H.2025 Key Consolidated KPIs
1H.2025* KEY CONSOLIDATED KPIs BACKLOG MARKETS RECURRING BUSINESS • Long- term backlog in Automation and Rail • Recurring: Rental, Projects, Spare Parts, Services (maintenance, revamping & refurbishing, consulting & training), LT backlog; Africa; 16% Europe; 18% • Non-recurring: Sales of goods Rail
Slide 44: 1H.2025 Profit & Loss Statement
1H.2025* PROFIT&LOSS STATEMENT “1H.2024 Pro-Forma” excludes Groupe Marais discontinuing operations (after JV operation in France) PROFIT & LOSS (€M) 1H.2025 Actual 1H.2024 Pro-Forma Δ Δ% REVENUES 128,6 117,7 10,9 +9,2% ▪ REVENUES growing by ca. 9%, with improvement in EBITDA 21,2 19,4 1,8 +9,4% Ener
Slide 45: 1H.2025 Statement of Financial Position
1H.2025* STATEMENT OF FINANCIAL POSITION Jun. 30, Dec. 31, Jun. 30, Δ Jun.30, 2025 vs €M 2024 2024 2025 Dec.31,2024 KEY VARIATIONS VS. DEC. 31, 2024: Net Working Capital 112,5 99,8 93,3 (6,5) Fixed Assets 126,5 106,9 102,5 (4,4) ▪ 6,5€M decrease in NWC Other Long Term assets/liabilities 22,4 21,9 21
Slide 46: 1H.2025 EBITDA Evolution by BU
1H.2025* EBITDA EVOLUTION BY BU (€M) 30 +1,4 +1,9 (1,5) 20 Stringing Higher volumes 21,2 19,4 Mix effect revenues and growth and due to favourable mix increased streamlining thanks to focus marginality planning and on higher value- 10 production added 19,7 21,2 17,8 on focused contracts fixed capita
Slide 47: 1H.2025 Net Financial Position Evolution
1H.2025* NET FINANCIAL POSITION EVOLUTION (€M) 200 150 147,0 33,8 30,7 146,4 (6,5) 6,7 3,0 (0,6) 100 113,2 115,8 50 0 Dec. 31, 2024 IFRS16 Net debt NWC OFCF CAPEX EQUITY ADJ.** Net debt IFRS16 Jun.30, 2025 31/12/2024 30/06/2025 €M Jun. 30,2025 Dec. 31,2024 Jun.30,2024 Inventories 96,8 96,1 113,6 Wor
Slide 48: Trenchers: 1H.2025 Facts & Figures
TRENCHERS: 1H.2025* FACTS & FIGURES (€M) 100 KEY FACTS 80 ▪ USA: growth aligned with expectations, despite market uncertainties 59,5 60,2 due to political and external factors 60 ▪ West Africa: positive market trend in the mining sector has enabled organizational structuring and ongoing operations.
Slide 49: Rail: 1H.2025 Facts & Figures
RAIL: 1H.2025 FACTS & FIGURES (€M) 40 KEY FACTS ▪ Deployment of diagnostic technologies in the Italian railway 30 25,0 infrastructure market driving safety and performance improvements: 19,6 ▪ 3 diagnostic vehicles are currently operating in key 20 interconnections - Milan, Florence and Rome; ▪ Dyna
Slide 50: Energy: 1H.2025 Facts & Figures
ENERGY: 1H.2025 FACTS & FIGURES (€M) 60 KEY FACTS 50 43,4 Stringing 38,6 40 ▪ Strong order intake supported by a dedicated task force managing key opportunities. 30 ▪ Significant business prospects in strategic regions such as South Asia and the Middle East; technical challenges and new leads 20 6,5
Slide 51: Annex
ANNEX All rights reserved LE ECCELLENZE DEL MADE IN ITALY 51 Milan I October 1st, 2025
Slide 52: Strategic Pool Financing for Euro 55 Million
KEY ENABLER FOR THE GROUP’S DEVELOPMENT THROUGH STRATEGIC POOL A BALANCED GROWTH STRATEGY FOCUSED ON FINANCING FOR PROFITABILITY AND FINANCIAL SOLIDITY EURO 55 MILLION FULLY ALIGNED WITH TESMEC’S LONG-TERM STRATEGY, LEVERAGING TECHNOLOGICAL LEADERSHIP AND HIGH-POTENTIAL CORE MARKETS AIMED TO REFINAN
Slide 53: Annex: 1H.2025 Summary Profit & Loss Statement
ANNEX: 1H.2025* SUMMARY PROFIT & LOSS STATEMENT PROFIT & LOSS (€ Mln) 1H.2025 1H.2024 PRO-FORMA NET REVENUES 128,6 117,7 Raw materials costs (-) (58,3) (53,9) Cost for services (-) (23,8) (20,3) Personnel Costs (-) (27,3) (26,8) Other operating revenues/costs (+/-) (3,4) (2,7) Non recurring revenues
Slide 54: Annex: 1H.2025 Balance Sheet
ANNEX: 1H.2025* BALANCE SHEET BALANCE SHEET (€ Mln) Jun. 30, 2025 Dec.31, 2024 Inventory 96,8 96,1 Work in progress contracts 44,3 36,7 Accounts receivable 56,0 55,4 Accounts payable (-) (93,8) (79,9) Op. working capital 103,3 108,4 Other current assets (liabilities) (10,0) (8,6) Net working capital
Slide 55: Disclaimer
DISCLAIMER This presentation has been prepared by Tesmec S.p.A. (“Tesmec”, the “Company” or the “Group”). As used herein, “Presentation” means this document, any oral presentation, the question and answer session and any written or oral material discussed or distributed during the presentation. The
Slide 56: Tesmec
+> ee TESMEC
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