Siav S.p.a. · MIL:SIAV
Siav — Siav S.p.A. società benefit — Next Gems 2025
31 slides from Siav's conference presentation, Oct 20, 2025
Slide 1: Next Gems 2025 Investor presentation
Next Gems 2025 Investor presentation Siav S.p.A. società benefit 20.10.2025
Slide 2: SIAV: Enterprise Content Management market leader
SIAV: Enterprise Content Management market leader Boasting a distinguished 35-year heritage of excellence in digital transformation, we proudly serve 4.000+ active clients with our proprietary software solutions. Underpinned by a robust 55% recurring revenue stream, we concluded FY2024 with a turnov
Slide 3: Today's Speakers
Today’s Speakers Nicola Voltan Daniele Boggian Chief Executive Officer (CEO) Chief Financial Officer (CFO) Nicola holds a degree in Philosophy from the University of Padua. In 2013, he completed Daniele obtained his Business Administration degree from the University of Verona in a Master in Business
Slide 4: Why SIAV Today?
Why SIAV Today? SIAV represents a compelling investment opportunity poised for scale-up as an Italian champion in digital transformation. 1 Loyal client base 2 Growing market opportunity Diversified portfolio of established 4,000+ private - and Positioned to capitalise on Italy's digital transformat
Slide 5: Loyal client base
Loyal client base SIAV serves a wide-ranging and diverse clientele, including private enterprises as well as local and central public administrations, covering various sectors and industries. The company’s profound integration within 1 client operations, bespoke solutions, and rigorous adherence to
Slide 6: Growing market opportunity
Growing market opportunity The market in which SIAV operates, although primarily focused on Italy, exhibits notable and sustained 2 prospective growth rates driven mainly by the increasingly widespread adoption of cloud technologies and, starting from 2024, by the surge of all topics related to AI.
Slide 7: AI driven cloud platform for ECM
AI driven cloud platform for ECM At SIAV, AI is not merely a marketing term; it represents a core pillar of our technological strategy and product 3 innovation. Content management engines operate on large Client’s dataset 1 scale data set to provide trusted and useful information Client’s dataset 2
Slide 8: M&A strategy in Italy and abroad
M&A strategy in Italy and abroad SIAV is currently evolving into a more contemporary, scalable, and globally competitive organisation, guided by a 4 rigorous M&A strategy. This approach is evidenced by a commendable history of three completed transactions, underscoring our proficiency in seamless in
Slide 9: Dual Growth Strategy
Dual Growth Strategy Organic Growth Initiatives 1 2 Acceleration Cross selling of new = to existing business / + customers sales model adoption Shareholders M&A Expansion of Connect Value creation International suite with expansion new modules and features 3 4 9
Slide 10: Dual Growth Strategy
Dual Growth Strategy 1 2 SIAV's product portfolio is organized into three distinct yet complementary business lines: Acceleration Proprietary Software, Direct Outsourced Services and Services, each playing a pivotal Cross selling of new to existing business / role in enhancing the group’s multifacet
Slide 11: Dual Growth Strategy
Dual Growth Strategy From an integrated business model >>> To date, SIAV has stood out as a true integrator 1 2 offering superior speed, reliability, and profitability through a comprehensive value chain Acceleration Cross selling of new approach. to existing business / customers sales model adoptio
Slide 12: Dual Growth Strategy
Dual Growth Strategy >>> To a vendor exclusively focused on software: SIAV is strategically evolving from a 1 2 direct sales approach to a hybrid go-to-market strategy, leveraging a partner-enabled Acceleration Cross selling to existing of new business / channel. Simultaneously, the company is exped
Slide 13: Dual Growth Strategy
Dual Growth Strategy Connect, in addition to being one of the most advanced platforms within the global ECM 1 2 platform offering, will enable commercial development through the partner ecosystem Acceleration Cross selling of new thanks to its technological features, and most importantly, it will op
Slide 14: Dual Growth Strategy
Dual Growth Strategy Connect, in addition to being one of the most advanced platforms within the global ECM 1 2 platform offering, will enable commercial development through the partner ecosystem Acceleration Cross selling of new thanks to its technological features, and most importantly, it will op
Slide 15: Leadership, Governance & Impact
Leadership, Governance & Impact BENEFIT As a listed benefit corporation, SIAV maintains robust governance practices while COMPORTATION integrating social responsibility into core business model. MANAGEMENT Nicola Voltan and the executive team maintain significant equity stakes, ensuring COMMITMENT a
Slide 16: Why Invest in SIAV: The Opportunity
Why Invest in SIAV: The Opportunity Profitable Growth Proprietary Technology Established profitability with Full ownership of software 22% EBITDA growth trajectory intellectual property with integrated AI capabilities and continuous innovation Market Opportunity Strong Client Base Positioned in expa
Slide 17: Consolidated Financial Results
CONSOLIDATED FINANCIAL RESULTS Siav S.p.A. società benefit
Slide 18: Main financial KPIs H1_2025
Main financial KPIs H1_2025 Strong recovery in operational efficiency, while decline in recurring revenues exclusively REVENUES (Euro) by Business line due to delays in contract renewals. Others Software OPERATING REVENUES (Euro) 0,2% 44,1% 0,0M 7,4M 16,8M H1_2024 +2% YoY (*) -76% YoY Prof. services
Slide 19: Main financial KPIs H1_2025
Main financial KPIs H1_2025 Until the end of H1_2026, significant focus on Public sector due to the closure of the PNRR REVENUES (Euro) by Sector windows. Partners Private OPERATING REVENUES (Euro) 2,5% 58,2% 0,4M 9,8M 16,8M H1_2024 +2% YoY (*) -19% YoY Healthcare -3% YoY Public 16,4M 19,8% 19,5% 3,
Slide 20: Main financial KPIs H1_2025
Main financial KPIs H1_2025 Improving trends with positive net result EBITDA (Euro) NET INCOME (Euro) 3,8M H1_2024 +22% YoY 0,4M H1_2024 +182% YoY 3,1M (0,5)M 22,3% 2,4% EBITDA margin NET INCOME margin 20
Slide 21: Main financial KPIs H1_2025
Main financial KPIs H1_2025 Capex reduction and back to cashflow Capex (Euro) 1,6M FY_2024 -33% YoY Net financial position (Euro) 17,6M 4,5M R&D 6,5% FY_2024 Archiflow 20,9M -16,2% YoY 37,5% Connect 56,2% 21
Slide 22: Income statement H1_2025 vs H1_2024
Income statement H1_2025 vs H1_2024 €M H1_2025 H1_2024 Δ+/- Notes: Software ≈ | in Q3 Nova effect REVENUES 16,8 16,4 +2,5% Prof. services ↑↑ due to Public Outsourcing ≈ Efficiency ↑↑ EBITDA 3,8 3,1 +22,5% G&A↓ Personnel ↓ EBITDA margin 22,3% 18,7% +22,5% --- EBIT 1,1 0,7 +45,9% Depreciation and amor
Slide 23: Balance sheet H1_2025 vs FY_2024
Balance sheet H1_2025 vs FY_2024 €M H1_2025 FY_2024 Δ+/- Notes: Capitalization and capex ↓ FIXED ASSETS 31,6 33,6 -5,9% WORKING CAPITAL (5,2) (4,1) +26,7% Supplier optimization CAPITAL EMPLOYED 26,3 29,4 -10,4% --- EQUITY 8,8 8,1 +9,2% --- Operating cahflow ↑↑ NFP 17,6 20,9 -16,2% Principal repaymen
Slide 24: Cashflow H1_2025 vs H1_2024
Cashflow H1_2025 vs H1_2024 €M H1_2025 H1_2024 Δ+/- Notes: Efficiency from operations ↑↑ FCFO 4,8 3,7 +29,3% Cost reduction / optimization INVESTMENT ACTIVITIES (0,8) (2,5) (67,0%) Development costs ↓ ↓ Debt repayments FINANCIAL ACTIVITIES (5,1) (1,6) +227,0% No new debt FCFE (1,1) (0,4) (198,6%) --
Slide 25: Outlook
Outlook ❑ For the H2_2025 the Company plans to continue on the development path already started; ❑ Strategic actions will continue to focus on technological innovation, the consolidation of the commercial presence (in the month of October, the new BU Manager for System Integration is expected to joi
Slide 26: Appendix
APPENDIX Siav S.p.A. società benefit
Slide 27: Governance
Governance Organizational Framework Directors' Board President Alfieri Voltan Siav S.p.A. Member (CEO) Nicola Voltan Member Leonardo Bernardi Member (CFO) Daniele Boggian Connect Dubai Siav East Consis Siav Suisse Credit Service FZE Europe Consortium Independent member Emanuele Campagnoli (Switzerla
Slide 28: Timeline
Timeline Archidoc birth: first Dubai Project Siav Connect FZE Alfieri Voltan application for Archiflow first Nicola Voltan new M&A: Epress S.p.A. IPO Euronext Growth (Mindware new established constitutes Siav electronic document release CEO (100%) Milan partnership) management 1989 1990 1992 1997 20
Slide 29: Certification and qualification
Certification and qualification 29
Slide 30: Disclaimer
Disclaimer This document has been prepared by Siav S.p.A. società benefit (hereafter referred to as the “Company” or “Siav”) exclusively for informational purposes and for use in discussions with institutional investors and financial analysts during presentations regarding the Company's outcomes and
Slide 31: Thank you for your attention
THANK YOU FOR YOUR ATTENTION Contacts: Nicola Voltan | CEO nicola.voltan@siav.it Daniele Boggian | CFO & Investor relations manager daniele.boggian@siav.it