Erredue S.p.a. · MIL:RDUE
Erredue — ISMO Milano 2025
36 slides from Erredue's conference presentation, May 29, 2025
Slide 1: ISMO-MILANO
ISMO-MILANO May 29th, 2025 WWW.ERREDUEGAS.IT 1
Slide 2: Speakers
SPEAKERS ENRICO D’ANGELO FRANCESCA BARONTINI FOUNDER CHIEF EXECUTIVE OFFICER ELIANA BOLLINO INVESTOR RELATIONS OFFICER & ESG DEPT. 2
Slide 3: Index
INDEX • BUSINESS FOCUS • KEY SUCCESS FACTORS • MARKET OVERVIEW • FY2024 FINANCIAL PERFORMANCE • STRATEGIC INITIATIVE • APPENDIX 3
Slide 4: Executive Summary
EXECUTIVE SUMMARY TOTAL BACKLOG €22.5 M • High growth of backlog with €22.5M. • The 80% is referred to FY 2025 • Composed by : A h i g h - t e c h i n d u s t r i a l c o mp a n y i n t h e g a s ✓ €15.9M sales of generator, generation sector worldwide (nitrogen, oxygen BACKLOG * ✓ €6.6M recurring r
Slide 5: Business Focus
BUSINESS FOCUS 5
Slide 6: Three Business Units, One Goal
THREE BUSINESS UNITS, ONE GOAL ENERGY TRANISTION INDUSTRIAL APPLICATION LABORATORY LINE Transportation Agriculture and Fertilizers Gas Carrier Power Generation and Storage Food and Beverage Industry Laboratory instruments Residential and Commercial Heating Pharmaceuticals and Healthcare Renewable En
Slide 7: Hydrogen, Other Gases, Lab and Traditional Business
HYDROGEN OTHER GASES LAB TRADITIONAL LAB BUSINESS LAB TRADITIONAL BUSINESS ENERGY TRANSITION TRADITIONAL BUSINESS 7
Slide 8: Key Success Factors
KEY SUCCESS FACTORS 8
Slide 9: Key Success Factors
KEY SUCCESS FACTORS CUSTOMIZATION RELIABILITY FULL SYSTEM OFFERING WHITE SPACE IN PILOT CUSTOMIZED FOR PROJECTS FOR H2 DIVERSIFIED PLANT TO ACHIEVE NET END-MARKET ZERO EMISSION APPLICATIONS VERTICALLY INTEGRATED SCALABILITY BUSINESS MODEL EVERY ON-SITE GAS TECHNOLOGICAL GENERATION COMPONENTS IS SCAL
Slide 10: An Incomparable Track Record, Technology Leader
AN INCOMPARABLE TECHNOLOGY LEADE TRACK RECORD AWE AND PEM EXTENSIVE EXPERIENCE TECH,RELIABLE AND COVERING DECADES, PROVEN PERFORMANCE OVER 20 YEARS OF GUARANTEES EXPERIENCE REVOLUTIONARY NEXT-GENERATION SOLUTIONSLEADERSHIP IN COST AND SCALE COMMITMENT TO INDUSTRY LEADER SUSTAINABILITY SOLUTIONS ALIG
Slide 11: Vertically Integrated Business Model
VERTICALLY INTEGRATED BUSINESS MODEL All design and production know how is internal. ErreDue’s production department is capable of producing in a short time, gas generators of different sizes and related accessories. 01 02 Electrolytic cell Metal shell The heart of the machine, it Component without
Slide 12: Market Overview
MARKET OVERVIEW 12
Slide 13: Energy Transition
HYDROGEN ‘STORAGE ELECTRICITY GENERATIO CONVERTED TO AMMONIA HYDROGEN PRODUCTION SUPPLY AND waTeR ELECTROLYSIS Rio DISTRIBUTION services NATURAL GAS. NETWORK STEAM REFORMATION (AND CRACKING. RESIDENTIAL APPLICATIONS FUEL CELL INDUSTRY VEHICLES APPLICATIONS ENERGY TRANSITON 3
Slide 14: Market Overview Energy Transition
MARKET OVERVIEW ENERGY TRANSITION The surging global demand for low-emission hydrogen opens up significant growth opportunities >300 Mt H2 Government funding for hydrogen in Low-emission hydrogen $308 bn 2023, +46% vs 2022 from electrolysis +3.000x >50 Mt H2 Formalized 2030 targets of countries’ 119
Slide 15: ErreDue Pipeline H2 Projects
ERREDUE PIPELINE H2 PROJECTS 39MW 27MW 15
Slide 16: Traditional Business
• LASER TECNOLOGIA SATURN • CUTTING • HEAT TREATMENTS • WELDING • ENOLOGYS • SINTERING • PACKAGING • NAVY • JEWELLERY TRADITIONAL BUSINESS
Slide 17: Market Overview Traditional Business
MARKET OVERVIEW TRADITIONAL BUSINESS In the first nine months of 2024, Italian industrial production saw a decline of -3.3% compared to the same period in 2023. This downturn was primarily driven by a significant drop in Q1 (-1.4% on a cyclically adjusted basis), with a gradual easing through late s
Slide 18: ErreDue Competitive Advantage and Vision
ERREDUE COMPETITIVE ADVANTAGE AND VISION In order to have a stronger presence in our traditional business, we have a number of initiatives in place, which are as follows: • Recruitment of a new business developer to promote Erredue's presence in foreign markets LOW POWER CONSUPTION * • Strategic par
Slide 19: Laboratory Line
LABORATORY LINE TECNOLOGIA SATURN • GAS CHROMATOGRAPHY • GAS CHROMATOGRAPHY/MASS SPECTROMETRY • LIQUID CHROMATOGRAPHY/MASS SPECTROMETRY • HIGH PERFORMANCE LIQUID CHROMATOGRAPHY • TOTAL ORGANIC CARBON ANALYSIS
Slide 20: Market Overview Laboratory Line
MARKET OVERVIEW LABORATORY LINE Emerging Markets: Developing countries are investing in healthcare infrastructure, creating a demand for laboratory instruments. For example, the Indian medical devices market grew from $2.02 billion in 2009 to $3.9 billion in 2015, with a CAGR of 15.8%.Point-of-Care
Slide 21: FY2024 Financial Performance
FY2024 FINANCIAL PERFORMANCE 21
Slide 22: Revenues Breakdown FY2024
REVENUES BREAKDOWN FY2024 OTHER PRODUCTS RENTALS OF +45% VS FY23 0.4M GENERATORS +6.5% VS FY23 ENERGY 5M 2.4M €15.9M TRANSITION +26% VS 1H23 TRADITIONAL BUSINESS 10.5M 3.5M €15.9M -37%VS FY23 SERVICE E SPARE PARTS 10M +4% VS FY23 SALES OF REVENUES BREAKDOWN OF GENERATORS BREAKDOWN BY REVENUES BY TYP
Slide 23: Recurring Revenues
RECURRING REVENUES Long T erm Rent al Aft er M a rket • Highly specialised Technical Department takes care of clients • The rental of the plant breaks down the wall of diffidence along all the journey, from plant design to installation, and keeps regarding new technology and its introduction in a pr
Slide 24: H2 Revenues
H2 REVENUES The energy transition segment has seen significant growth, driven by the ecological transition and promising developments in the energy sector. Along with the sharp increase in sales in the financial year, there has been a substantial rise in orders for plants to be delivered by 2025. (€
Slide 25: EBITDA Value and EBITDA Margin
(€M) EBITDA VALUE 7.000 6.000 5.000 4.000 3.000 5.888 KEY DRIVERS OF THIS TEMPORARY MARGIN 5001 IMPACT INCLUDE: 2.000 4.353 3.955 In 2024, the company achieved an EBITDA of 1.000 EUR 5,088 thousand, slightly down from EUR 5,888 thousand in 2023. - 2021A 2022A 2023A 2024A The decrease is mainly due t
Slide 26: Capex, Net Financial Position, Trade Working Capital, ROIC
(€M) CAPEX (€M) NET FINANCIAL POSITION (CASH) € 17,3M € 4M € 17,3M € 16,3M 0,6 0,08 1,7 9,2 0,5 0,8 1,7 0,9 2,2 (4,7) (7,4) 4,73 0,75 (13,6) (19,0) 1,23 0,03 2,04 (14,3) (13,5) 1,31 1,33 1,04 2020A 2021A 2022A 2023A 2024 2021A 2022A 2023A 2024A Tangible Assets Intangible Assets Cash & cash equivalen
Slide 27: Strategic Initiative
STRATEGIC INITIATIVE 27
Slide 28: Strategic Growing
STRATEGIC GROWING NEW PRODUCTION FOREIGN EXPANSION SITE • ErreDue will be able to produce up to 60 • It’s scouting opportunity in Europe and discussing plants per year in a single shift; production will partnership agreement with company in Spain, be doubled in the case of two shifts Portugal and Fr
Slide 29: Strategic Positioning
STRATEGIC POSITIONING Leadership in the Strategic Vision of the Opportunities in Large- Proven Technological Hydrogen Market: Quality and Reliability: Small to Medium-Scale Scale Projects: Electrolyzer Niche: Erre Due s e e s t he Wi t h ov e r 30 y e ars of By focusing on the 1 to hy d rogen mar k
Slide 30: New Production Site
NEW PRODUCTION SITE 60 4 plants per year production lines on one shift 17,000 sqm new area increasing to 27,000 sqm total area 30
Slide 31: Appendix
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Slide 32: ESG Agenda 2030
ESG AGENDA 2030 ErreDue pays a lot of attention to ESG policy and has therefore started a path towards obtaining the m ajor certifications in this area Environment Social Governance The intrinsic nature of ErreDue 's success is ErreDue is actively ErreDue's business is thanks to the engaged in centr
Slide 33: Environmental Achievements
ENVIROMENTAL ACHIEVEMENTS RENEW ABLE CARBO N S US T AINABILITY ENERGY FO O T PRI NT REPO RT Installation of 650 Kw of solar Measurement of emissions (direct The C omp any wil l p r odu ce and panels on the roof. and indirect) of greenhouse gases publ is h the Sust ai n abi li ty Repor t In addition
Slide 34: Social Achievements
SOCIAL ACHIEVEMENTS GENDER EDUCAT ION W E LFARE EQ U ALITY &BO NUS Women make u p 25 per cent of the The val ori z ati on of hum an capit al The valorisati on of human capital empl oyees, a gre at achieve ment has al w ays bee n fun dament al f or has always been fundamental for f or an in dust ry s
Slide 35: Governance Achievements
GOVERNANCE ACHIEVEMENTS M I CRO PUBLI C ENVI ROMENTAL COMPANY MANAGEMENT S YS T EM Erre due ’s f ocu s on pe ople i s an integ ral part of the com pany's The part conformi ng to the ISO DNA. 14001 environmental standard will The f ounde rs' phi l osophy was to be added to the certified sh are the be
Slide 36: Thank you
Thank you www.erreduegas.it 36