Tesmec S.p.a. · MIL:TES
Tesmec — European Midcap Event 2017
36 slides from Tesmec's conference presentation, Jun 28, 2017
Slide 1: Integrated Solutions Provider - European Midcap Event
Integrated Solutions Provider European Midcap Event Paris, 28- 29 June 2017 www.tesmec.com 28th- 29th June 2017
Slide 2: Index
Index > Corporate Strategy > Business Units > 1Q 2017 Results 28th- 29th June 2017 2
Slide 3: Tesmec Smart City
TESMEC SMART CITY Stringing Automation Railway Trencher 28th- 29th June 2017 3
Slide 4: The Business Units
The 4 Business Units STRINGING AUTOMATION > Overhead power lines > Telecommunication & construction & maintenance Teleprotection > Reconductoring and line > Electronic integrated sensors, improvement fault detection and FULLY measurement > Underground cable laying INTEGRATED > Protections & Electron
Slide 5: Tesmec "From Steel to Technology"
TESMEC “ From Steel to Technology ” OUR MISSION > Our mission is to be value added integrated solutions provider in the market of infrastructure for the transport of energy, data and material > We provide efficiency, digitalization, safety and sustainability for the modernization of the infrastructu
Slide 6: Strategy execution & Main milestones
Strategy execution & Main milestones EXPERTISE INTEGRATION FROM STRINGING TO TRENCHER FROM STRINGING TO RAILWAY FROM STRINGING TO AUTOMATION From machines for underground Markets saturation for power lines CONSOLIDATION Application of the tension stringing cable laying to digging solutions for elect
Slide 7: Global partner with local presence
Global partner with local presence Tesmec Group headquarters are KEY FIGURES located in Grassobbio, close to Milan. Tesmec pursues a "Glocal" growth 9 Production plants +650 people + 60 years strategy: we are global, 7 in Italy, 1 in USA, 1 in France of experience but at the same time we have a loca
Slide 8: Production plants
Production plants TESMEC S.p.A. Headquarters Grassobbio (BG) - Italy TESMEC S.p.A TESMEC S.p.A. TESMEC SERVICE Sirone - Italy Endine - Italy Monopoly - Italy SGE BERTEL CPT Padova - Italy Fidenza - Italy Patrica - Italy GROUPE TESMEC USA MARAIS Texas - USA Durtal - France 28th- 29th June 2017 8
Slide 9: Power of our Cross Solutions
Power of our Cross Solutions INTEGRATED SOLUTIONS PROVIDER TOP Intelligence, specialists’ competences, QUALITY expertise, technologies 2017 ÷ 2019 MANUFACTURER Equipment, Machines, GOOD Tools QUALITY Before WE ARE THE ONLY PROVIDER IN THE WORLD WE HAVE able to satisfy the infrastructure market's nee
Slide 10: Index
Index > Corporate Strategy > Business Units > 1Q 2017 Results 28th- 29th June 2017 10
Slide 11: Why our Trencher Solutions
Why our TRENCHER Solutions “ Advanced working methodology: integrated systems & technological solutions for a complete jobsite management ” > MODULAR SOLUTIONS Sales/Rental After-sales > AUTOMATIC DIGGING AND SELF DIAGNOSTIC > Ease use of the trencher > Increase productivity Engineering > Less depen
Slide 12: Main worldwide projects
Main worldwide projects 9 6 Hard rock trenching - USA 1 1 2 Gas Pipeline - MEXICO Granite, quarz and massive 5 382 km 36” gas pipeline - Soft soil micaschist trenching 4 to hard rock - 2 mt depth avg. Attachment: 6’x36” - Models: M5 2 7 Models: 2 x 1475 CS, 2 X 1575 BW 3 8 10 Desert Pipeline - CHILE
Slide 13: Why our Energy Automation Solutions
Why our ENERGY AUTOMATION Solutions “From devices manufacturer to integrated solutions provider for the grids of tomorrow ” > ADVANCED TECHNOLOGIES > High performance solutions for energy efficiency > STRATEGIC PARTNERSHIP > Co-development of innovative products as technological partner with high-te
Slide 14: Main worldwide projects
Main worldwide projects 60,000 3 Indoor 4 FPI 2 8,000 Protection and monitoring relay 1 2,000 DGAs 10,000 400 Outdoor Line Traps FPI 750 1,000 PLC and Teleprotections RTU Systems 1 Distribution system 2 Electricity transmission system operator 3 Interregional and regional grid operator - RUSSIA 4 Op
Slide 15: Why our Stringing Solutions
Why our STRINGING Solutions “Aofnew concept integrated systems 4.0 for energy transport and distribution: Simple, Safe and Reliable ” > DURABILITY 25 YEARS > Maximum economic efficiency during life cycle of the equipment > PERFORMANCE RELIABILITY > Most trusted equipment for any project, optimum per
Slide 16: Main worldwide projects
Main worldwide projects 4 5 1 8 6 7 2 3 Fjord crossing 1 Reconductoring USA 2 Top efficiency BRAZIL 3 In altitude - PERU 500 kV line at 1000 mt a.s.l., 4 NORWAY NHPL Texas jobsite 500 kV line, 6 T&D lines 900 km long Special machines for fjord Live line reconductoring operations 5000 km long 2 modul
Slide 17: Why our Railway Solutions
Why our RAILWAY Solutions “Catenary specialist for the installation, maintenance and diagnostic for railway lines ” > TOP TECHNOLOGIES > High technological & innovative solutions which guarantee a > CONSULTING SERVICE > Advanced working methodologies to reduces time & operative costs successful effi
Slide 18: Main worldwide projects
Main worldwide projects 5 6 8 1 2 3 4 7 High maintenance level 1 Eagle P3 Project USA 2 Huge, top performing unit USA 3 TGV, high speed railway FRANCE 4 ITALY 1 Constant tension stringing unit 1 Work car + 1 Reel car 8 Constant tensions stringing 88 Multipurpose railway vehicles 1 Catenary maintenan
Slide 19: Index
Index > Corporate Strategy > Business Units > 1Q 2017 Results 28th- 29th June 2017 19
Slide 20: 1Q 2017 Closing
1Q 2017 Closing ENERGY 1Q2017 1Q2016 Delta % GROUP (€ mln) 1Q 2017 1Q 2016 Delta % Revenues 21,9 10,4 110,2% EBITDA 3,9 2,0 95,0% Revenues 49,8 40,5 23,1% % on Revenues 18% 19% EBITDA 5,6 (*) 5,4 4,8% % on Revenues 11% 13% TRENCHERS 1Q2017 1Q2016 Delta % Revenues 24,4 29,2 -16,5% EBIT 2,5 2,5 2,3% E
Slide 21: 1Q 2017 Revenues: Main features
1Q 2017 Revenues: Main features INTERNATIONAL SCALE AND EXPOSURE TO GROWING ECONOMIES 16% 10% 23% 24% 7% 25% 13% 15% 36% 5% 11% 15% Italy: growing weight thanks to Railways and Automation Segment Italy Europe Middle East BRICs and Others: increase due to Indonesian Stringing Contract BRICs and Ocean
Slide 22: EBITDA 1Q 2017
EBITDA 1Q 2017 18 16 9,3 14 12 10 8 0,3 0,2 6 (6,6) (0,4) (1,8) (0,3) (0,5) 4 5,4 6,1 5,6 2 0 EBITDA Revenues Raw materials Cost for Personnel Equity Capitalized Other Gross Grassobbio EBITDA 1Q 2016 & other costs Services Costs Investments R&D Expenses operating EBITDA rent cost 1Q 2017 cost/revenu
Slide 23: 1Q 2017 Financial Results
1Q 2017 Financial Results Financial Information (Euro mln) 1Q 2017 2016 Net Working Capital 73,7 76,0 Non Current assets 72,2 70,1 Other Long Term assets/liabilities 1,2 0,5 Net Invested Capital 147,1 146,6 Net Financial Indebtness 96,9 96,7 Equity 50,2 49,9 Total Sources of Financing 147,1 146,6 28
Slide 24: Working Capital Evolution
Working Capital Evolution 100 15,3 80 2,7 (6,8) (6,0) 60 (7,5) 40 76,0 73,7 20 0 2016 Inventories WIP Trade Trade Other current 1Q 2017 Net Working Receivables Payables ass. / liab. Net Working capital capital Days Days Euro Mln 1Q 2017 2016 1Q 2017 2016 Trade Receivables 64,7 49,4 117 138 Inventori
Slide 25: Net Financial Position Evolution
Net Financial Position Evolution OPERATING NET FINANCIAL POSITION € mln 140 120 5,4 0,7 100 80 (3,6) (2,3) 60 96,7 96,9 40 20 0 NFP OFCF NWC Capex Int.exp. NFP FY 2016 net Q1 2017 > Net Financial Position substantially unchanged 2016 > Capex absorbed by Internally generated cash and WC Q1 2017 reduc
Slide 26: Backlog 2017.Q1
Backlog 2017.Q1 BACKLOG 31/12/2016 Sales Q1.2017 In take Q1 Backlog 31/3 26,0 21,9 16,6 20,7 Energy 45,0 34,2 54,8 24,4 Trencher 110,0 112,5 3,5 6,0 Railway 181,0 56,8 188,0 Total 49,8 28th- 29th June 2017 26
Slide 27: Main business highlights: Stringing Automation
Main business highlights STRINGING AUTOMATION Enhance market presence of advanced Launch of new stringing machines 4.0 automation solutions for HV and MV on target market (EU, Germany, North power lines and strengthen our value America) proposition Strengthen our sales force: Entering in extra EU ma
Slide 28: Main business highlights: Railway
Main business highlights RAILWAY Implementation of our railway working methodology on target markets, focus on EU: for the 1st time attendance to IAF in Germany, the largest fair in the world in the field of track technology. Increase international sales channel: ongoing negotiations with key player
Slide 29: Main business highlights: Integrated Solutions
Main business highlights INTEGRATED SOLUTIONS FTTx & CABLES ENERGY CABLES (WIND, SOLAR) France: rental activity regional deployment Business integration with automation and Ivory Coast: rental projects for the automatic stringing cable laying with key accounts New Zealand & Australia: UK: Feasibilit
Slide 30: Main business highlights: Trencher
Main business highlights TRENCHER BULK EXCAVATION & SURFACE MINING PIPELINE Good results in the rental industry Consolidation of huge opportunities Few large oil&gas pipeline projects in Kuwait 28th- 29th June 2017 30
Slide 31: 2017 Trend & Outlook
2017 Trend & Outlook TREND Upturn USA economy BUSINESS xxx Impact of new service model (Energy/Telecom) Rail and energy automation projects impacts OUTLOOK Sales: 2Q.2017 increase compared to SPPY in line with 1Q.2017 ECONOMICS & 2017 Sales: 160–170 M€ (after 1Q.2017 closer to top range) xxx FINANCI
Slide 32: Summary 1Q 2017 Profit & Loss statement - Appendix A
Summary 1Q 2017 Profit & Loss statement - Appendix A Delta vs Profit & Loss Account (€ mln) 1Q 2017 1Q 2016 Delta % 2016 Net Revenues 49,8 40,5 9,3 23,0% Raw materials costs (-) (24,4) (17,8) (6,6) 37% Cost for services (-) (8,1) (7,7) (0,4) 5% Personnel Costs (-) (11,2) (9,4) (1,8) 19% Other operat
Slide 33: Summary 1Q 2017 Balance Sheet - Appendix B
Summary 1Q 2017 Balance Sheet - Appendix B Balance Sheet (€ mln) 1Q 2017 2016 Inventory 65,7 70,5 Accounts receivable 64,7 49,4 Accounts payable (-) (38,0) (31,2) Op. working capital 92,4 88,7 Other current assets (liabilities) (18,7) (12,7) Net working capital 73,7 76,0 Tangible assets 49,4 47,3 In
Slide 34: 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
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Slide 36: www.tesmec.com
www.tesmec.com 28th- 29th June 2017