Interpump Group S.p.a. · MIL:IP
Interpump — FY2024 Earnings Presentation
68 slides from Interpump's earnings presentation, February 2025
Slide 1: Interpump Group February 2025
INTERPUMP GROUP February 2025
Slide 2: Index
INDEX INTERPUMP GROUP ▪• GROUP OVERVIEW KEY HIGHLIGHTS ▪• 2025 OUTLOOK 4Q-2023 PRELIMINARY FINANCIAL RESULTS ▪ 4Q2024 FINANCIAL RESULTS • GROUP SUSTAINABILITY PATH ▪ ANNEX • OUTLOOK • ANNEX 1
Slide 3: Index
INDEX ▪• GROUP OVERVIEW KEY HIGHLIGHTS • 4Q-2023 PRELIMINARY FINANCIAL RESULTS • GROUP SUSTAINABILITY PATH • OUTLOOK • ANNEX 2
Slide 4: Interpump a delivering group
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP ▪ € 2.078m of turnover and € 457m of EBITDA (22% on net sales) in 2024 divided between two divisions − Hydraulics and Water Jetting ▪ Hydraulics: around 70% of Group sales, EBITDA margin around 20% − Wide range of components for mobile and non-mobile hydraul
Slide 5: Excellence track record
2023 INTERPUMP A DELIVERING GROUP – EXCELLENCE TRACK RECORD ▪ Since IPO in 1996 a track record of excellence and GROUP 1996-2024 SALES EVOLUTION (€ million) resilience 2024: post COVID normalisation Sales: -7.2% ▪ Sales: around 8% of growth (1), with only 5 years 2020: COVID crisis Sales: -5.4% of d
Slide 6: Excellence track record
2023 INTERPUMP A DELIVERING GROUP – EXCELLENCE TRACK RECORD ▪ FCF: growing generation and consistent GROUP 1996-2024 FCF EVOLUTION (€ million) exploitation in worsening environment 2024: post COVID normalisation – EBITDA excellence and resilience Sales: -7.2% and EBITDA: -14.9% EBITDA margin: from 2
Slide 7: Sales diversification
ANNEX INTERPUMP A DELIVERING GROUP – SALES DIVERSIFICATION GROUP 2024 sales: € 2.078m OTHERS: 1% EARTH MOVING MACHINE: 6% GENERIC DEALERS: 16% PACIFIC AREA: 13% CONSTRUCTION: 8% REST of THE WORLD: 9% CLEANING: 5% AGRICOLTURE: 8% GENERIC CONTRACTORS: 4% EUROPE: 50% OTHER INDUSTRIAL LIFT: 6% SECTOR: 8
Slide 8: Market diversification
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – MARKET DIVERSIFICATION WATER JETTING HYDRAULICS HIGH PRESSURE PUMPS DEVICES FLOW HANDLING COMPONENTS & SYSTEMS • Power take-offs, cylinders, hydraulic motors & gear • Piston pumps 1-2,000hP used in • Stainless steel agitators, mixers, pumps, valves high-pr
Slide 9: Application diversification
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – APPLICATION DIVERSIFICATION HYDRAULICS WATER JETTING TRUCK OUTFITTERS FOOD, COSMETICS (1) AUTOMOTIVE EARTH MOVING Tipping trucks High-pressure homogenizers Rail engine heads deburring Excavators Trash collection Water-jet food cutting, Bodywork cutting Bac
Slide 10: Brand & product diversification
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – BRAND&PRODUCT DIVERSIFICATION WATER JETTING HYDRAULICS HIGH PRESSURE PUMPS FLOW HANDLING COMPONENTS DEVICES & SYSTEMS INTERPUMP BERTOLI INTERPUMP HYDRAULICS PRATISSOLI Homogenizers WALVOIL – WHITE - EUROFLUID MUNCIE POWER Directional control valves, ALFA V
Slide 11: Strategy milestones
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – STRATEGY MILESTONES FLEXIBILITY • Vertically integrated manufacturing DIVERSIFICATION (wherever possible) Product mix and sales strategy • Across the widest possible range • Use of general-purpose programmable of applications, products, can adapt fast to m
Slide 12: Strategy milestones
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – STRATEGY MILESTONES Volatility reduction through multiple cycles exposure Effective reaction to unexpected swings FLEXIBILITY • Vertically integrated manufacturing DIVERSIFICATION (wherever possible) Product mix and sales strategy • Across the widest possi
Slide 13: 2023-25 Group commitments
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – 2023-25 GROUP COMMITMENTS ▪ 2023-25 commitments, 1 target with 2 guidelines (1) 2023-25 GROUP EXPECTED SALES EVOLUTION (1) 3,500 2022-2025 sales growth: +25% ▪ One target: sales 3,000 – around 25% of total growth(2) 2,500 2,000 ▪ Two guidelines: profitabil
Slide 14: Index
INDEX ▪• GROUP OVERVIEW KEY HIGHLIGHTS ▪• 2025 OUTLOOK 4Q-2023 PRELIMINARY FINANCIAL RESULTS • GROUP SUSTAINABILITY PATH • OUTLOOK • ANNEX 13
Slide 15: Solid bases to face the future
2023 2025 SOLID BASES TO FACE THE FUTURE ▪ 2025 entrance consistent with 2024 trends (1) 2010-2025YTD BACKLOG EVOLUTION (1) Million € ‒ Water Jetting on going strength 1500.0 1400.0 ‒ Hydraulic stagnation at the curve bottom 1300.0 1200.0 1100.0 2021-23 average 1000.0 ▪ 2025 financial expectations 9
Slide 16: Index
INDEX A DELIVERING GROUP ▪• GROUP OVERVIEW KEY HIGHLIGHTS ▪• 2025 OUTLOOK 4Q-2023 PRELIMINARY FINANCIAL RESULTS ▪ 4Q2024 FINANCIAL RESULTS • GROUP SUSTAINABILITY PATH • OUTLOOK • ANNEX 15
Slide 17: Top level cash generation
4Q-2024 RESULTS A DELIVERING GROUP – TOP LEVEL CASH GENERATION ▪ Margin protection and cash improvement delivered 2009-2020-2024 SALES & EBITDA EVOLUTION (2) % change compared to previous reporting period in the 2nd worst year of Group history in terms of sales (1) 2009 2020 2024 ‒ Margin protection
Slide 18: Profitability resilience
3Q-3Q2023YTD 4Q-2024 RESULTS A DELIVERING GROUP – PROFITABILITY RESILIENCE ▪ 2024 EBITDA: profitability resilience confirmed ▪ Capability to match extraordinary market swings and acquisitions dilution impact – Complementary nature of two divisions – Increased diversification by division, geography,
Slide 19: Top level cash generation
3Q-3Q2023YTD 4Q-2024 RESULTS A DELIVERING GROUP – TOP LEVEL CASH GENERATION ▪ 2024 FCF: top level cash generation GROUP 1996-2024 FCF EVOLUTION (€ million) 2024: post COVID normalisation ▪ Slightly better than 2020 despite worst addends Sales: -7.2% and EBITDA: -14.9% EBITDA margin: from 24% to a 22
Slide 20: Normalisation stronger than expected
3Q-3Q2023YTD 4Q-2024 RESULTS GROUP – NORMALISATION STRONGER THAN EXPECTED ▪ 2024 – Sales: normalisation in Hydraulics much heavier than expected – Profitability: diversification, business model flexibility and integration capability allowed to minimise negative flow through – NFP: execution of FCF c
Slide 21: Divisions - completely different evolution
3Q-3QYTD2023 4Q-2024 RESULTS DIVISIONS – COMPLETELY DIFFERENT EVOLUTION ▪ Hydraulics – Sales: normalisation much heavier than expected – Profitability: margin protection effective for the most part of the year ▪ Water-Jetting – Sales: post COVID recovery going on – Profitability: improved capability
Slide 22: Sales - normalisation versus growth
3Q-3Q2023YTD 4Q-2024 RESULTS SALES – NORMALISATION VERSUS GROWTH ▪ 4Q2024: normalisation still affecting Hydraulics − Hydraulics: “Earth moving machine” and “Construction” are still stagnating at the bottom, while “Agri” and “Lift” decrease halved − Water Jetting: “revenues for projects” and “proces
Slide 23: Sales evolution by division
3Q-3Q2023YTD 4Q-2024 RESULTS SALES – NORMALISATION VERSUS GROWTH 4Q2024 SALES EVOLUTION 2024 SALES EVOLUTION 500 -13.5% -13.9% 1,900 450 € 1.634m -14.0% +0.3% 1,700 -0.1% HYDRAULICS 400 € 366m -14.1% € 1.407m 1,500 350 0% 1,300 +0.7% € 317m 300 1,100 900 250 700 200 500 2023 ORGANIC PERIMETERS FX 20
Slide 24: EBITDA - minimising normalisation
3Q-3QYTD2023 4Q-2024 RESULTS 26.0% EBITDA – MINIMISING NORMALISATION 25.5% 2024 EBITDA EVOLUTION (1-2) 25.0% (% on Net Sales) 24.5% 24.0% 24.0% 23.6% 23.5% 23.0% 22.5% 22.1% 22.0% 22.0% 21.5% 21.0% 2023 2023 2023 Purchase Labour Other 2024 Perimeters 2024 one-off excl. one-off operating constant cha
Slide 25: NFP - top level cash generation
3Q-3Q2023YTD 4Q-2024 RESULTS NFP – TOP LEVEL CASH GENERATION ▪ NFP equal to € 409m compared to € 486m NFP EVOLUTION (1) (€ m) of December 2023(1) 600 € 486m € 205m ▪ Cash generation at top level: FCF up by almost 40%, 500 € 35m € 10m € 10m €1 € 409m to € 205m 400 € 92m – TWC (2) : € 60m of cash gene
Slide 26: NFP - TWC - normalisation slowed down
3Q-3Q2023YTD 4Q-2024 RESULTS NFP – TWC – NORMALISATION SLOWED DOWN ▪ Normalisation process slowed down by sales drop – Trade receivable and payable evolution consistent with sales evolution – Inventory lower adjustment • More difficult to promptly and consistently follow sales evolution ▪ Commitment
Slide 27: NFP - CAPEX - delivering normalisation
3Q-3Q2023YTD 4Q-2024 RESULTS NFP – CAPEX – DELIVERING NORMALISATION 2019-2024 CAPEX EVOLUTION ▪ CAPEX(1) normalisation process ongoing: (% on total CAPEX) down by around 20%, from € 165m to € 128m 200 10% 7.3% 6.7% 6.2% ▪ Different evolution, different CAPEX approach 5.4% 6.1% – Hydraulics down acco
Slide 28: New Interpump Hydraulics headquarter
3Q-3Q2023YTD 4Q-2024 RESULTS NFP – CAPEX – DELIVERING NORMALISATION ▪ New Interpump Hydraulics headquarter – 62,000 sq. metres, a total area increase of around 30% – Best environmental standards ▪ Relocation started at 2024 end – New machine delivered, shipping and PTOs assembly departments already
Slide 29: New Inoxpa India headquarter
3Q-3Q2023YTD 4Q-2024 RESULTS NFP – CAPEX – DELIVERING NORMALISATION ▪ New Inoxpa India headquarter – A total area of 32,000 sq. metres, of which 17,500 for the factory and 4,500 for office space – Investment main targets • Increase of production capacity • Operations centralization • Alignment of wo
Slide 30: Acquisitions - perfect fit with Group strategy
3Q-3Q2023YTD 4Q-2024 RESULTS NFP – ACQUISITIONS – PERFECT FIT WITH GROUP STRATEGY ▪ Acquisitions with a perfect fit with Group growth and diversification strategy – Strengthening Group’s global network • PP China & YRP, “Flow Processing” in China: entry into the plant engineering market and expansio
Slide 31: ESG Path
INDEX ESG PATH ▪• GROUP OVERVIEW KEY HIGHLIGHTS ▪• 2024 OUTLOOK 4Q-2023 PRELIMINARY FINANCIAL RESULTS ▪ 4Q2024 FINANCIAL RESULTS • GROUP SUSTAINABILITY PATH ▪ ESG PATH • OUTLOOK • ANNEX 30
Slide 32: ESG path concreteness
3Q2023YTD ESG PATH CONCRETENESS “A falling tree makes more noise than a growing forest” Lao Tzu 31
Slide 33: ESG path a delivering group
3Q2023YTD ESG PATH A DELIVERING GROUP ▪ All 2024 ESG Plan actions delivered (1) – 2023-2025 ESG Journey: conclusion of “foundation” phase ▪ Multi annual actions delivery on track – S.4 action of 2025 - Global Mobility Program – anticipated to 2024 ▪ Each action drove Group enhancement – CPPA (2): fo
Slide 34: Three priorities for three pillars
3Q2023YTD ESG PATH THREE PRIORITIES FOR THREE PILLARS SUPPORTED GRI 2023-2025 KEY TARGETS and SDG ▪ Definition of Group “Carbon neutrality” strategy 2023 E ▪ Reduction of Group “Carbon intensity” 2025 ▪ Increase of renewed electricity consumption 2025 305-1 and 2 302-1 ▪ Injury rate improvement 2024
Slide 35: ESG path a delivering group
ESG PATH A DELIVERING GROUP ANALYSIS AND MEASUREMENT BUILDING GROUP LEADING TO ESG FOUNDATIONS 2030 AND 2050 DECARBONISATION TARGETS 2022 2023 2024 2025 2027 ▪ E.1 - Carbon neutrality strategy ▪ E.2 - Carbon intensity reduction ▪ S.2 - ISO 45001 extension ▪ E.4 - Circular economy (phase 1) ▪ E.3 - I
Slide 36: Index
INDEX ▪• GROUP OVERVIEW KEY HIGHLIGHTS ▪• 2025 OUTLOOK 4Q-2023 PRELIMINARY FINANCIAL RESULTS ▪ 4Q2024 FINANCIAL RESULTS • GROUP SUSTAINABILITY PATH ▪ ANNEX • OUTLOOK • ANNEX 35
Slide 37: Annex
ANNEX ANNEX ▪ DISCLAIMER ▪ 4Q-2023 DETAILS ▪ 2023-2025 ESG JOURNEY 36
Slide 38: Disclaimer
ANNEX DISCLAIMER ▪ DISCLAIMER 37
Slide 39: Disclaimer - performance indicators
ANNEX DISCLAIMER − PERFORMANCE INDICATORS The Group uses several alternative measures that are not identified as accounting parameters in the framework of IFRS standards, to allow better evaluation of the trend of economic operations and the Group's financial position. Such indicators are also tools
Slide 40: Disclaimer - forward looking statements
ANNEX DISCLAIMER – FORWARD LOOKING STATEMENTS This document has been prepared by Interpump Group S.p.A for aforesaid forward-looking statements. This document does not use during meetings with investors and financial analysts and is constitute an offer to sell or a solicitation to buy or subscribe t
Slide 41: 4Q-2024 details
ANNEX 4Q-2023 DETAILS ▪ DISCLAIMER ▪ 4Q-2024 DETAILS 40
Slide 42: Sales breakdown - Group
ANNEX ANNEX SALES DETAILS – SALES BREAKDOWN (1) – GROUP GROUP 2024 sales: € 2.078m OTHERS: 1% EARTH MOVING MACHINE: 6% GENERIC DEALERS: 16% PACIFIC AREA: 13% CONSTRUCTION: 8% REST of THE WORLD: 9% CLEANING: 5% AGRICOLTURE: 8% GENERIC CONTRACTORS: 4% EUROPE: 50% OTHER INDUSTRIAL LIFT: 6% SECTOR: 8% S
Slide 43: Sales breakdown - Hydraulics
ANNEX SALES DETAILS – SALES BREAKDOWN (1) – HYDRAULIC HYDRAULICS 2024 sales: € 1.407m OTHERS: 1% PACIFIC AREA: 10% EARTH MOVING MACHINE: 10% GENERIC DEALERS: 17% REST of THE WORLD: 10% CONSTRUCTION: 8% OTHER INDUSTRIAL SECTOR: 9% AGRICOLTURE: 12% F&B: 1% ENERGY&UTILITIES: 1% MINING: 1% SHIPYARD-MARI
Slide 44: Sales breakdown - Water Jetting
ANNEX SALES DETAILS – SALES BREAKDOWN (1) – WATER JETTING WATER JETTING 2024 sales: € 671m OTHERS: 1% PACIFIC AREA: 17% CONSTRUCTION: 7% GENERIC DEALERS: 13% ADAPTORS INDUSTRIAL VEHICLES: 4% AUTOMOTIVE: 4% REST of THE WORLD: 10% SHIPYARD-MARINE: 5% CLEANING: 14% OIL&GAS: 5% RAILWAY: 0% ENERGY&UTILIT
Slide 45: Sales details - organic evolution
ANNEX SALES DETAILS – ORGANIC EVOLUTION GROUP 2020-2024 ORGANIC GROWTH EVOLUTION by QUARTER 50% 39.4% 40% 2020: -12.6% - 2021: +20.1% - 2022: +13.7% - 2023: +6.9% - 2024: -9.0% 30% 17.9% 18.7% 20% 15.7% 14.2% 10% 11.6% 14% 9.1% 12.6% 12.5% 4% 0% -7.8% -3.4% -10% -1.7% -11.2% -9.2% -16.2% -9.5% -9.4%
Slide 46: Acquisition details
ANNEX ACQUISITION DETAILS 2024 INTERPUMP GROUP ACQUISITIONS FINANCIAL DATA (1) IMPLIED First consolidation ACQUIRED COMPANIES EBITDA Additional Total EV/EBITDA Group division Sales Margin Information consideration PP CHINA April 2024 9 April YRP FLOW TECNOLOGY € 10m 10% - € 2.9m 2.9x Water Jetting d
Slide 47: 2024 actions
ANNEX 2024 ACTIONS ▪ DISCLAIMER ▪ 4Q-2023 DETAILS ▪ 2023-2025 ESG JOURNEY – 2024 ACTIONS (1) – 2023-2025 ESG JOURNEY (1) Please refers to Group web site for specific documentation on the topic (“2024 ESG Actions Overview”, January 2025) (1) Please refers to Group web site for specific documentation
Slide 48: Actions E.2 & E.3 - Corporate power purchase agreement
ANNEX ACTIONS E.2 & E.3 – CORPORATE POWER PURCHASE AGREEMENT E POWER PURCHASE AGREEMENT MAIN FEATURES Plant technology Photovoltaic – New plant Plant location Italy PPA typology Physical sleeved (1) Consumption volumes 20GWh Contract length 10 years, starting from 1° January 2025 Price Fix 5 Italian
Slide 49: Avoid waste creation
ANNEX ACTIONS E.7 – PRODUCT ECO-DESIGN GUIDELINES E REUSE AVOID WASTE CREATION RECYCLE REPAIR 48
Slide 50: Actions E.7 - Product eco-design guidelines
ANNEX ACTIONS E.7 – PRODUCT ECO-DESIGN GUIDELINES E CORE PRINCIPLES GOALS ▪ Increased use of renewable energy sources Efficient material ▪ Seeking design solutions to reduce materials used while preserving performance levels management ▪ Adopt cross-product logics to optimise production and warehous
Slide 51: Action S.4 - Global mobility program
ANNEX ACTION S.4 – GLOBAL MOBILITY PROGRAM (1) S GLOBAL MOBILITY PROGRAM 4 GOALS Group strategy Group 2023-25 ESG Journey Professional growth Value creation implementation alignment fast track Mobility is key tool for driving Mobility is a key lever Mobility promotes Mobility accelerates professiona
Slide 52: Action S.6 - Responsible supply chain
ANNEX ACTION S.6 – RESPONSABLE SUPPLY CHAIN G ▪ Approach: leverage on existing best practices at subsidiaries level ▪ Methodology: internally performed activities – Harmonise business model variety between and inside divisions – Overcome decentralised organisation at operational level – Consider the
Slide 53: Action S.6 - Responsible supply chain
ANNEX ACTION S.6 – RESPONSABLE SUPPLY CHAIN G ▪ Focus: “Cost of sales”, the most important cost item of P&L – 4 most important cost items • Purchase of raw materials, semi-finished products, finished products • External manufacturing costs • Consumable tools • Consumables ▪ Sample: all Italian manuf
Slide 54: Action G.4 - Tax compliance consolidation
ANNEX ACTION G.4 – TAX COMPLIANCE CONSOLIDATION G EXTERNAL REGULATORY FRAMEWORK GROUP CODE of ETHICS 2013 & 2016 OCSE Guidelines (1) - D. Lgs. 128/2015 (2) TAX CONTROL FRAMEWORK TAX STRATEGY Goals – Principles – Guidelines - Application TAX COMPLIANCE MODEL 53
Slide 55: Action G.4 - Tax compliance consolidation - TCF
ANNEX ACTION G.4 – TAX COMPLIANCE CONSOLIDATION – TCF G TAX CONTROL FRAMEWORK Detect, measure, manage and control the tax risk 4 GOALS Tax regulations application Sustainable development Tax and reputational risk Tax culture spread consistency and reliability and Group asset integrity minimization a
Slide 56: G.6 Updating on ESG journey
ANNEX G.6 UPDATING ON ESG JOURNEY G ▪ Improvement of communication transparency – 360° approach, not only ESG topics ▪ 2023-25 ESG Journey – Quarterly updating – Ad hoc presentations • «Tax Compliance Consolidation», 14 November 2024 • «Corporate Purchase Power Agreement», 21 November 2024 • «Eco-De
Slide 57: G.6 Updating on ESG journey
ANNEX G.6 UPDATING ON ESG JOURNEY G 56
Slide 58: 2023-2025 ESG journey
ANNEX 2023-2025 ESG JOURNEY ▪ DISCLAIMER ▪ 4Q-2023 DETAILS ▪ 2023-2025 ESG JOURNEY – 2024 ACTIONS (1) – 2023-2025 ESG JOURNEY (1) Please refers to Group web site for specific documentation on the topic (“2024 ESG Actions Overview”, January 2025) (1) Please refers to Group web site for specific docum
Slide 59: ESG 2023-25 plan - climate change
ANNEX ESG 2023-25 PLAN – LEADING TO 2030-50 TARGETS E ▪ 3 main streams – Climate change – Product life cycle – Water efficiency ▪ Formalisation of Group “E” strategy and policies is the cornerstone ▪ Approximately € 10m of CAPEX and not material impact on Group G&A in the plan horizon – CAPEX: aroun
Slide 60: ESG 2023-25 plan - product life cycle
ANNEX ESG 2023-25 PLAN – LEADING TO 2030-50 TARGETS E ACTION ID DESCRIPTION GRI and SDG KPI TIMING K.P.I. Carbon intensity reduction tCO2eq/€ (1) ▪ Focus on Scope 1 and 2 Base year: 2021 E.2 ▪ Main leverages: photovoltaic plants installation Target: -30% Target year: 2025 and renewable purchase ener
Slide 61: ESG 2023-25 plan - water efficiency
ANNEX ESG 2023-25 PLAN – LEADING TO 2030-50 TARGETS E ACTION ID DESCRIPTION GRI and SDG KPI TIMING WATER EFFICIENCY Water monitoring system ▪ Phase 1: mapping of the installed water Base year: 2022 E.6 monitoring systems across the Group N.A. Target year: 2025 ▪ Phase 2: implementation of a continuo
Slide 62: ESG 2023-25 plan - health & safety
ANNEX ESG 2023-25 PLAN – EXPANDING THE SILENT GROWING FOREST S ▪ 4 main streams – Health & safety – People development – Responsible supply chain – Diversity & inclusion ▪ “Pilot projects” will be crucial to capitalise on already existing best practices at subsidiaries level – Walvoil for “ESG suppl
Slide 63: ESG 2023-25 plan - people development
ANNEX ESG 2023-25 PLAN – EXPANDING THE SILENT GROWING FOREST S ACTION ID DESCRIPTION GRI and SDG KPI TIMING HEALTH & SAFETY K.P.I. % Group turnover ISO 45001 extension Base year: 2021 S.2 ▪ Focus on subsidiaries with manufacturing sites Target year: 2027 Base: 22% Target: 45% K.P.I. Increase of non-
Slide 64: ESG 2023-25 plan - responsible supply chain
ANNEX ESG 2023-25 PLAN – EXPANDING THE SILENT GROWING FOREST S ACTION ID DESCRIPTION GRI and SDG KPI TIMING SUPPLY CHAIN RESPONSIBLE ESG supply chain evaluation model extension ▪ First focus on Italy (100% of manufacturing Base year: 2023 S.6 N.A. subsidiaries) Target year: 2024 ▪ Feasibility study
Slide 65: ESG 2023-25 plan - ESG cornerstone
ANNEX ESG 2023-25 PLAN – BUILDING ESG FOUNDATIONS G ▪ 3 main streams – ESG as governance cornerstone – Spread of ESG principles, actions and results inside and outside the Group – Tax compliance consolidation in line with best practices ▪ “G” actions will follow the natural path of Group governance
Slide 66: ESG principles-actions-results
ANNEX ESG 2023-25 PLAN – BUILDING ESG FOUNDATIONS G ACTION ID DESCRIPTION GRI and SDG KPI TIMING ESG PRINCIPLES-ACTIONS-RESULTS Code of Ethics revision Base year: 2022 G.2 N.A. Target year: ▪ To reflect ESG principles in Code of Ethics 1H2023 SPREAD Succession plan formalization G.3 ▪ Succession pla
Slide 67: ESG principles-actions-results
ANNEX ESG 2023-25 PLAN – BUILDING ESG FOUNDATIONS G ACTION ID DESCRIPTION GRI and SDG KPI TIMING ESG PRINCIPLES-ACTIONS- RESULTS SPREAD Base year: 2022 Updating on ESG journey G.6 N.A. Target year: ▪ Periodic updating on actions implementation annual 66
Slide 68: Manager in charge declaration
The Manager in charge of preparing the company’s financial reports declares - pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance - that the accounting information contained in this presentation corresponds to the document results, books and accounting records. S.Ilario d’E