Slide 1: 1H 2015 results: Partner in a changing world
1H 2015 results Partner in a changing world
Slide 2: Solutions partner for your world
We focus on strategic markets for the growth and modernization of every country. Solutions partner for your world Tesmec designs, manufactures and sells products, technologies and integrated solutions for the construction, maintenance and efficiency of infrastructures related to the transport and di
Slide 3: Main business highlights: Energy
Main business highlights ENERGY POSITIVE IMPACT OF EUROPE AND SOUTH AMERICA AUTOMATION SEGMENT: GOOD TREND OF 1Q CONFIRMED ALSO IN 2Q END OF DEVELOPMENT PHASE FOR THE INNOVATIVE DEVICE FOR SMART GRIDS (PILOT PHASE TO START) PROJECTS ACTIVITIES POSTPONED IN KEY MARKETS (NORTH AMERICA, INDIA, RUSSIA)
Slide 4: Execution of Brazil order
Execution of Brazil order Execution of big order of stringing equipment for overhead power lines construction in Brazil in timing with the tough project schedule.
Slide 5: Tesmec RGDAT in South America
First orders and revenues in the new Energy Automation business. Tesmec RGDAT in South America Application: monitoring and protection of medium voltage power lines Supply: RGDAT Directional Fault Detector and Off Voltage Indicator device Location: ENEL Power Grids in South America
Slide 6: Main business highlights: Trenchers
Main business highlights TRENCHERS IN THE BACKGROUND OF OIL&GAS AND COMMODITIES LOW PRICES, FOCUS ON DIFFERENT MARKET SEGMENTS: TELECOM: NEW PROJECTS FOR ENERGY CABLES AND FIBER OPTIC INSTALLATION ESPECIALLY IN EUROPE AND WEST AFRICA, THANKS TO THE ACQUISITION OF THE FRENCH COMPANY MARAIS WATER PIPE
Slide 7: New opportunities in TLC market
Ongoing projects for Energy Cables and Fiber Optic installation. New opportunities in TLC market UK: 2x47 km parallel cable routes, PE pipes installation for onshore underground cables connecting offshore wind farm Congo: 250 km of fiber optic cable laying between Pointe Noir e Mbinda Ivory Co
Slide 8: Chile water pipeline
TESMEC expertise has been chosen for the main infrastructural projects worldwide. Chile water pipeline Project: two 42” water pipeline Supply: TESMEC 1675 Chainsaw Location: between Caleta Coloso port and a copper mine in the Atacama Desert of northern Chile, 114 miles (185 km) away and 10,170
Slide 9: New Orbital Highway in Qatar
TESMEC expertise has been chosen for the main infrastructural projects worldwide. New Orbital Highway in Qatar Project: 47km of motorways Supply: TESMEC 1475 Rock Hawg Location: the new highway will connect the North Relief Road with Salwa Road, it will bypass Doha and relieve current traffic
Slide 10: Main business highlights: Railway
Main business highlights RAILWAY INNOVATIVE RAILCAR EQUIPPED WITH SAFETY AND TECHNICAL DEVICES APPROVED BY THE ITALIAN RAILWAY AUTHORITY NEW CONTRACT AWARDED WITH EUROPEAN RAILWAY CORPORATION RAILCARS FOR THE US MARKET SUCCESSFULLY COMPLETED FACTORY TESTING PHASE AND GOING TO START DYNAMIC TESTS COM
Slide 11: 1H2015 Economic Results
1H2015 Economic Results year-on-year statutory figures GROUP (€ mln) 1H2015 1H2014 Delta % Revenues 85,1 54,7 55,6% ENERGY 1H2015 1H2014Delta % EBITDA 14,2 8,9 59,6% Revenues 45,9 22,3 105,8% % on Revenues 17% 16% EBITDA 8,2 3,9 110,3% % on Revenues 18% 17% EBIT 9,6 5,3 81,1% % on Revenues 11% 10% T
Slide 12: 1H2015 Economic Results: organic growth
1H2015 Economic Results organic growth statutory Marais Marais non- organic organic * GROUP (€ mln) 1H2015 recurring recurring 1H2015 1H2014 Δ% Revenues 85,1 5,6 / 79,5 54,7 45,3% EBITDA 14,2 0,3 2,1 11,8 8,9 33,1% % on Revenues 17% 5% 15% 16% EBIT 9,6 -0,3 2,1 7,8 5,3 46,4% % on Revenues 11% -5% 10
Slide 13: Revenues 1H2014 1H2015
Revenues 1H2014 1H2015 INTERNATIONAL SCALE AND EXPOSURE TO GROWING ECONOMIES 13% 6% 22% 33% Italy 18% Europe 9% 43% Middle East BRICs and Oceania 8% Africa 5% 10% North-Central America 20% 12% 13
Slide 14: EBITDA 1H2015
EBITDA 1H2015 40 35 30 25 20 (18,3) 15 (4,9) 10 (3,4) 2,1 (0,5) (0,1) 30,4 14,2 5 8,9 0 EBITDA Revenues Raw Cost for Personnel Equity Capitalized Marais non- EBITDA 1H2014 materials & Services Costs Investments R&D recurring 1H2015 other costs Expenses EBITDA boosted by Stringing Equipment volumes 1
Slide 15: Working Capital Evolution
Working Capital Evolution Working Capital Evolution 100 17,2 80 (0,7) 8,0 (11,4) (3,9) 60 40 67,2 57,9 20 0 2014 Inventories WIP Trade Trade Other current 1H2015 Net Working Receivables Payables ass. / liab. Net Working capital capital statutory Marais Marais non- organic Days Days 2014 Euro Mln 1H2
Slide 16: Net Financial Position Evolution
Net Financial Position Evolution Operating Net Financial Position without figurative debt for Grassobbio premises 90 IAS17 13,6 75 18,3 IAS17 0,7 2,6 60 (13,1) 2,4 18,9 6,8 5,0 45 72,5 30 54,5 15 0 NFP OFCF NWC Other Dividend Int.exp. Taxes Marais NFP FY 2014 capex Net paid net acquisition 1H2015 NF
Slide 17: Order Book 1H2015
ENERGY Order Book 1H2015 € mln 50 45,2 45,9 40 30 24,3 23,6 TRENCHERS 20 € mln 10 38,6 48,3 36,7 40 0 Order 1H2015 Order Order 27,0 book Revenues Intake book 30 FY 2014 1H2015 20 10 0 RAILWAY Order book 1H2015 Order Order book FY2014 Revenues Intake 1H2015 € mln 12 9,9 23,6 8 70.2 5,9 36,7 4,6 mln 4
Slide 18: Outlook 2015
Outlook 2015 Revenues Euro 45% REVENUES: good performance also in the second half of 2015 enhanced by: 55% ENERGY: confirmation of the growth in the Automation segment. Stringing keep on growing USD but at a slower pace compared to the first half of the year TRENCHERS: growth especially in: - teleco
Slide 19: Summary 1H2015 Profit & Loss statement
Summary 1H2015 Profit & Loss statement Delta vs Profit & Loss Account (€ mln) 1H2015 1H2014 Delta % 2014 Net Revenues 85,1 54,7 30,4 55,6% Raw materials costs (-) (44,0) (25,7) (18,3) 71% Cost for services (-) (13,8) (8,9) (4,9) 55% Personnel Costs (-) (16,1) (12,8) (3,3) 26% Other operating revenue
Slide 20: Summary 1H2015 Balance Sheet
Summary 1H2015 Balance Sheet Balance Sheet (€ mln) 1H2015 2014 Inventory 63,4 55,4 W ork in progress contracts 4,6 5,2 Accounts receivable 58,5 41,3 Accounts payable (-) (45,6) (34,2) Op. working capital 80,9 67,7 Other current assets (liabilities) (13,7) (9,8) Net working capital 67,2 57,9 Tangible
Slide 21: Disclaimer
Disclaimer The Manager responsible for preparing the company’s financial reports, Andrea Bramani, 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 acc