Sesa S.p.a. · MIL:SES
Sesa — Mediobanca Italian Mid Cap Conference 2025
29 slides from Sesa's conference presentation, Jan 29, 2025
Slide 1: Sesa Group presentation
Sesa Group presentation Mediobanca Italian Mid Cap Conference Milan, January 29, 2025
Slide 2: Agenda
Alessandro Fabbroni Agenda Group Chief Executive Officer Caterina Gori IR, Corporate Finance M&A Manager ▪ Group’s Business Model and Operations Jacopo Laschetti Stakeholder and Corporate Sustainability Officer ▪ Group’s financial results and planning ▪ Annexes Financial Statements 2
Slide 3: Sesa Group Overview
Sesa Group Overview ▪ Leading player for the digitalization of corporates and organizations, with consolidated revenues for Eu 3.2 Bn Leading Digital (+10.4% Y/Y) and 5,700 people (+21% Y/Y) in the Fiscal Year ending April 30, 2024 Partner for ▪ European player mainly operating in Italy (Headquarter
Slide 4: Business Model and Organization
Business Model and Organization ▪ Business Model focus on Technology, Consulting, Vertical Applications on the cutting-edge technology (Data/AI, Cloud, Cyber Security, Digital Platforms); Organization in Vertical Strategic Business Units, with skills development in main digital trends ▪ Eu 3.2 Bn co
Slide 5: Management Team long-term committed to the Group
Management Team long-term committed to the Group Key people equity commitment and sustainable growth Group Long-term track record achievements REVENUES FY11 Eu 747.0 Mn Group EAT Adj FY11 Eu 11.5 Mn Sesa Group equity partners’ focus on long-term development growth REVENUES FY25E Eu 3,400.0 Mn Group
Slide 6: People and Talent Management Programs
People and Talent Management Programs 3,400* FY 2024 HC Highlights 3,211 6,400 Headcount CAGR 2012-2024 +17.0% New Hires Permanent Contract 5,700 2,908 5,691 Revenues CAGR 2012-2024 +12.1% 1,000 98% 6,181 people as of October 31, 2024 (+15.2% Y/Y) 4,700 4,720 2,390 Entry Turn Over Average Senior
Slide 7: Sustainability programs
Sustainability programs Sesa Purpose to create long-term sustainable value for all stakeholders, promoting the digital innovation of companies and organizations and the well-being of people. Progressive improvement of ESG performances driven by international best practices adoption ▪ Sustainable gro
Slide 8: Italian IT market trend, driven by digitalization path
Italian IT market trend, driven by digitalization path ▪ The Italian IT market (Source Sirmi, January 2025) Currency: €'m 2017 2018 2019 2020 2021 2022 2023 2024 2025E 2026E shows a declining growth in 2023-24 with 2.7% annual Hardware 6,044 6,025 6,172 6,266 6,770 6,392 5,917 5,850 5,830 5,810 aver
Slide 9: Bolt-on industrial M&A to accelerate long-term organic growth
Bolt-on industrial M&A to accelerate long-term organic growth Bolt-on M&As as crucial driver of long-term growth and Group’s transformation, to attract skills and competencies: • 78 M&As starting from 2015 with additional 3,000 HCs and about Eu 800 Mn annual revenues at acquisition date; 13 M&As in
Slide 10: SSI: Digital Partner for European Enterprises
SSI: Digital Partner for European Enterprises 822.8 Mn revenues (+17.1% Y/Y), Ebitda margin 12.1% and 3,850 people1 Revenues breakdown1 Digital Workspace; ▪ Leading System Integrator and Software Solutions provider with growing focus on Business Integration and Digital 4.0% Data/AI; 3.0% Consultancy
Slide 11: Business Services: Digital Transformation for Financial Services
Business Services: Digital Transformation for Financial Services Base Digitale Group: 114.0 Mn revenues (+35.2% Y/Y), Ebitda margin 15.9% and 720 people1 Revenues breakdown1 ▪ Group Sector started on February 2020 and focused on Digital Platforms, Vertical Banking Applications and Security for Finan
Slide 12: VAS: Digital partner of ICT ecosystems
VAS: Digital partner of ICT ecosystems IT Value Added Solutions: 2.14 Bn revenues (+14.7% Y/Y), Ebitda margin 5% and 695 people1 Italian market share VAD2 ▪ Value-added Solutions aggregator: consulting, marketing and training services to habilitate the emerging Computer technologies across ICT eco
Slide 13: Digital Green: enabling sustainability of corporates and organizations
Digital Green: enabling sustainability of corporates and organizations Digital Green: 241 Mn revenues (-33.8% Y/Y), Ebitda margin 10% and 55 people1 ▪ Joining the Group in 2021, thanks to the acquisition of PM Service (Eu 30 Mn revenues at acquisition time), the Sector is focused on technologies (
Slide 14: Agenda
Alessandro Fabbroni Agenda Group Chief Executive Officer Caterina Gori IR, Corporate Finance M&A Manager ▪ Group’s Business Model and Operations Jacopo Laschetti Stakeholder and Corporate Sustainability Officer ▪ Group’s financial results and planning ▪ Annexes Financial Statements 14
Slide 15: H1 2025 Group's results
H1 2025 Group’s results (last Financial Results public announcement) CAGR H1 2024 - 2025 FY 2020 - FY 2024 H1 2024 - 2025 without Digital Green Key comments Variance H1 H1 2025 Resilient trend in H1 2025 despite the Eu million FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 2012-24 2020-24 H1 2024 H1 2025 2
Slide 16: H1 25 Group's results by Sector
H1 25 Group’s results by Sector (first decline after Years of consecutive growth) REVENUES EBITDA GROUP EAT ADJUSTED Eu million H1 19 H1 20 H1 21 H1 22 H1 23 H1 24 H1 25 H1 19 H1 20 H1 21 H1 22 H1 23 H1 24 H1 25 H1 19 H1 20 H1 21 H1 22 H1 23 H1 24 H1 25 Software & System Integration 151.9 177.6 211.
Slide 17: Confirmation of Guidance for the FY 2025 and market consensus for FY26B
Confirmation of Guidance for the FY 2025 and market consensus for the FY26B REVENUES EBITDA GROUP EAT ADJUSTED Eu million FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 Software & Syste
Slide 18: Group Net Financial Expenses trend
Group Net Financial Expenses trend FY 2025 FY 2024 Variances Eu thousand H1 H2 H1 H1 25 vs H2 24 H1 25 vs H1 24 Interest expenses and income, bank expenses (19,185) (21,015) (16,015) -8.7% +19.8% and other financial costs Profit and loss on exchange rates (134) (180) 1,117 -25.6% -112.0% Profit and
Slide 19: Group Financial Results (NFP, IFRS 16, IFRS 3 and NWC) Apr20-Apr25E
Group Financial Results (NFP, IFRS 16, IFRS 3 and NWC) Apr20-Apr25E Net Financial Position (Apr20A - Apr25E) Oct24 The table opposite presents the Net Currency: €'m Apr20 Oct20 Apr21 Oct21 Apr22 Oct22 Apr23 Oct23 Apr24 Apr25E Pro-forma Financial Position reported by Half Shareholders Equity 253.9 27
Slide 20: Group long-term growth path: guidance for FY 2025, consensus for FY 2026
Group long-term growth path: guidance for FY 2025, market consensus for FY 2026 Sales and other Revenues (Eu Mn) EBITDA (Eu Mn) EBIT Adjusted3 (Eu Mn) ~ 211.52 ~ 3,6002 ~ 2702 ~ 3,4001 ~ 2501 ~ 198.71 3,211 192.7 +6.4% +5.9% 239.5 +8.0% +3.1% Y/Y CAGR 2012-24 +12.1% 2,908 +5.9% Y/Y CAGR 2012-24 +15.
Slide 21: FY25 Outlook and Long-term drivers of growth
FY25 Outlook and Long-term drivers of growth ▪ Positive H2 2025 outlook confirmed, forecasting high-single digit growth both in consolidated revenues, Ebitda and Group EAT Adjusted, considering the favourable revenues and backlog trends in November and December 2024. ▪ FY 2025 mid-single digit growt
Slide 22: Agenda
Alessandro Fabbroni Agenda Group Chief Executive Officer Caterina Gori IR, Corporate Finance M&A Manager ▪ Group’s Business Model and Operations Jacopo Laschetti Stakeholder and Corporate Sustainability Officer ▪ Group’s financial results and planning ▪ Annexes Financial Statements 22
Slide 23: Group H1 Results as of October 31, 2024 by segment
Group H1 Results as of October 31, 2024 by segment 1 Segment Informations 6M Period Pro-forma as of October 31, 2024 6M Period Reported as of October 31, 2023 Digital Digital H1 2025 Pro-forma results In Euro Mn VAS Green SSI BS Corporate Group VAS Green SSI BS Corporate Group (May 2024 – October 20
Slide 24: Income Statement as of October 31, 2024 as reported
Income Statement as of October 31, 2024 as reported October 31, October 31, October 31, October 31, 2024 Pro- Change Change Consolidated reclassified Income Statement (Euro/thousand) 2022 % 2023 % % 2024 % 2024PF/23 2024/23 Reported Reported forma1 Reported Revenues 1,298,771 1,482,856 1,491,342 0.6
Slide 25: Income Statement as of April 30, 2024 as reported
Income Statement as of April 30, 2024 as reported Change FY Consolidated reclassified Income Statement (Euro/thousand) April 30, 2022 % April 30, 2023 % April 30, 2024 % 2024/23 Revenues 2,362,603 2,867,700 3,164,477 10.3% Other income 27,220 39,939 45,940 15.0% Total Revenues and Other Income 2,389
Slide 26: Balance Sheet as of October 31, 2024 as reported
Balance Sheet as of October 31, 2024 as reported October 31, October 31, October 31, October 31, Change Change Consolidated Reclassified Balance Sheet (Euro/thousand) 2022 2023 2024 2024 1 2024PF/23 2024/23 Reported Reported Pro-forma Reported Intangible assets 282,066 435,374 502,487 67,113 493,093
Slide 27: Balance Sheet as of April 30, 2024 as reported
Balance Sheet as of April 30, 2024 as reported Consolidated Reclassified Balance Sheet (Euro/thousand) April 30, 2022 April 30, 2023 April 30, 2024 Change 2024/23 Intangible assets 228,280 368,488 457,071 88,583 Property, plant and equipment 111,943 125,901 149,819 23,918 Investments valued at equit
Slide 28: Sesa Group M&As starting from FY 2015
Sesa Group M&As starting from FY 2015 SSI Sector Business Services Sector VAS Sector Digital Green Sector Company Revenues Company Revenues Company Revenues Company Revenues APRA Eu 16 Mn PANTHERA Eu 6.5 Mn PBU CAD S. GMBH Eu 9 Mn ACCADIS Eu 18 Mn 9 M&As FY 2015-20191 SAILING Eu 2.5 Mn New Group Sec
Slide 29: www.sesa.it
www.sesa.it This document has been prepared by Sesa SpA (“SeSa” or the “Company”) solely for this presentation and does not represent any investment research, recommendation, consulting or suggestion, concerning the Company or its shares or any other securities/financial instruments issued by the Co
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