Erredue S.p.a. · MIL:RDUE
Erredue — Investor Access Paris (April 2025)
29 slides from Erredue's conference presentation, Apr 2, 2025
Slide 1: Investor Acces-Parigi
INVESTOR ACCES-PARIGI April 2nd, 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: 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 high-tech industrial company in the gas ü €15.9M sales of generator, generation sector worldwide (nitrogen, oxygen BACKLOG * ü €6.6M recurring revenues and hydrogen) using
Slide 4: 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 5: Hydrogen, Other Gases, Lab, Traditional Business
HYDROGEN OTHER GASES LAB TRADITIONAL LAB BUSINESS LAB TRADITIONAL BUSINESS ENERGY TRANSITION TRADITIONAL BUSINESS 5
Slide 6: Key Success Factors
KEY SUCCESS FACTORS CUSTOMIZATION RELIABILITY FULL SYSTEM OFFERING W H I T E S PA CE I N PI L O T CU S T O M I Z E D F O R P R O JE CT S F O R H 2 DIVERSIFIED P L A N T T O A CH I E V E N E T END-MARKET ZERO EMISSION A PPL I CA T I O N S VERTICALLY SCALABILITY INTEGRATED BUSINESS MODEL EVERY ON-SITE
Slide 7: 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 8: 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 9: Energy Transition
HYDROGEN STORAGE HYDROGEN PRODUCTION SUPPLY AND ELECTROLYSIS. GRID DISTRIBUTION senvices NATURAL GAS NETWORK STEAM REFORMATION Nearing AND CRACKING RESIDENTIAL APPLICATIONS e inoustay VEHICLES APPLICATIONS ENERGY TRANSITON
Slide 10: Market Overview Energy Transition; Strategic Positioning
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 <0,1 Mt H2 Formalized 2030 targets of 119
Slide 11: Pipeline H2 Projects
PIPELINE H2 PROJECTS 39MW 27MW 11
Slide 12: Traditional Business
TECNOLOGIA SATURN • LASER • CUTTING • HEAT TREATMENTS • WELDING • ENOLOGYS • SINTERING • PACKAGING • NAVY • JEWELLERY TRADITIONAL BUSINESS
Slide 13: Market Overview Traditional Business
MARKET OVERVIEW TRADITIONAL BUSINESS In the first nine months of 2024, Italian industrial production saw a decline up to -20% 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
Slide 14: Competitive Advantage Vision
COMPETITIVE ADVANTAGE 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 LOW POWER CONSUPTION markets high purity of nitrogen * COM
Slide 15: 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 16: 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 17: Revenues Breakdown FY2024
REVENUES BREAKDOWN FY2024 OTHER PRODUCTS RENTALS OF +45% VS FY23 0.4M GENERATORS +6.5% VS FY23 HYDROGEN 5M +26% VS 1H23 2.4M €15.9M OTHER GASES -37%VS FY23 10.5M 3.5M €15.9M SERVICE E SPARE PARTS 10M +4% VS FY23 SALES OF REVENUES BREAKDOWN OF GENERATORS BREAKDOWN BY REVENUES BY TYPE -8.2% VS FY23 PR
Slide 18: Recurring Revenues
RECURRING REVENUES Long Term Rental After Market • 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 product
Slide 19: H2 Revenues
DOUBLE DIGIT GROWTH H2 REVENUES IN ENERGY TRANSITION 6.000,00 € 5.000,00 € 12.3 0,6 4.000,00 € 0,4 11.1 N2 3.000,00 € 5,0 0,7 7,8 2.000,00 € 0,5 N2 7.1 N2 1.000,00 € 4,7 6,6 - € 0,2 N2 2023A 2024A H2 3,4 10,5 H2 H2 8,0 H2 5,9 The energy transition segment has seen significant growth, driven by 5,0 3
Slide 20: 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 21: Capex, Net Financial Position, 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) (13,6) 4,73 0,75 (19,0) 1,23 (14,3) 0,03 (13,5) 2,04 1,04 1,31 1,33 2020A 2021A 2022A 2023A 2024 2021A 2022A 2023A 2024A Tangible Assets Intangible Assets Cash & cash equivalen
Slide 22: 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 partnership agreement with company in Spain, will be doubled in the case of two shifts Portugal and 22
Slide 23: 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: ErreDue sees the With over 30 years of By focusing on the 1 to hydrogen market as a ErreDue
Slide 24: 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 24
Slide 25: ESG Agenda 2030
ESG AGENDA 2030 ErreDue pays a lot of attention to ESG policy and has therefore started a path towards obtaining the major 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 centre
Slide 26: Environmental Achievements
ENVIROMENTAL ACHIEVEMENTS RENEWABLE CARBON SUSTAINABILITY ENERGY FOOTPRINT REPORT Installation of 650 Kw of solar Measurement of emissions (direct The Company will produce and panels on the roof. and indirect) of greenhouse gases publish the Sustainability Report In addition, a hydrogen refuelling (
Slide 27: Social Achievements
SOCIAL ACHIEVEMENTS GENDER EDUCATION WELFARE EQUALITY &BONUS Women make up 25 per cent of the The valorization of human capital The valorisation of human capital employees, a great achievement has always been fundamental for has always been fundamental for for an industry specialising in ErreDue. Th
Slide 28: Governance Achievements
GOVERNANCE ACHIEVEMENTS MICRO PUBLIC ENVIROMENTAL COMPANY MANAGEMENT SYSTEM Erredue’s focus on people is an integral part of the company's The part conforming to the ISO DNA. 14001 environmental standard will The founders' philosophy was to be added to the certified share the benefit of the company
Slide 29: Thank you
Thank you www.erreduegas.it 29