Sesa S.p.a. · MIL:SES
Sesa — 9M FY2025 Earnings Presentation
28 slides from Sesa's earnings presentation, Mar 13, 2025
Slide 1: 9 months 2025 Group's Results
9 months 2025 Group’s Results March 13, 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 3.4 Bn (+5% Leading Digital Y/Y) and 6,500 people (+14.2% Y/Y) in the Fiscal Year ending April 30, 2025E 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 3.4 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 Sesa Group equity partners’ focus on long-term development growth REVENUES FY11 Eu 747.0 Mn Group EAT Adj FY11 Eu 11.5 Mn and sustainability: REVENUES FY25E
Slide 6: People and Talent Management Programs
People and Talent Management Programs ∼ 3,4002 FY 2024 HC Highlights 3,211 6,500 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% 6,500 people expected as of April 30 2025 (+14.2% Y/Y) 4,700 4,720 2,390 Entry Turn Over Average
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 Currency: €'m 2017 2018 2019 2020 2021 2022 2023 2024 2025E 2026E The Italian IT market (Source Sirmi, January 2025) shows a Hardware 6,044 6,025 6,172 6,266 6,770 6,392 5,917 5,850 5,830 5,810 declining growth in 2023-24 with 2.7% annual 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: • 80 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 Eu 910 Mn revenues (+10% Y/Y), Ebitda margin 11% and 4,300 people1 Revenues breakdown1 Digital Workspace; 4.0% Data/AI; 3.0% Leading System Integrator and Software Solutions provider with growing focus on Business Integration and Digital Experience; 2.
Slide 11: Business Services: Digital Transformation for Financial Services
Business Services: Digital Transformation for Financial Services Base Digitale Group: Eu 160 Mn revenues (+40% Y/Y), Ebitda margin 16% and 1,000 people1 Revenues breakdown1 Group Sector started on February 2020 and focused on Digital Platforms, Vertical Banking Applications and Security for Financ
Slide 12: VAS: Digital partner of ICT ecosystems
VAS: Digital partner of ICT ecosystems IT Value Added Solutions: Eu ~ 2.10 Bn revenues, Ebitda margin ∼ 4.4% and 700 people1 Italian market share VAD2 Value-added Solutions aggregator: consulting, marketing and training services to habilitate the emerging Computer Others; technologies across ICT e
Slide 13: Digital Green: enabling sustainability of corporates and organizations
Digital Green: enabling sustainability of corporates and organizations Digital Green: Eu 345 Mn revenues (+43% Y/Y), Ebitda margin ∼ 7% and 100 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: 9M 2025 Group's results as of January 31, 2025
9M 2025 Group’s results as of January 31, 2025 CAGR CAGR Eu million FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 9M 24 9M 25 Change % 3Q 24 3Q 25 Change % Great growth in revenues (up FY12-24 FY20-24 by 11.7%) and 2.6% increase in Revenues 1,776.0 2,037.4 2,389.9 2,907.6 3,210.4 12.1% 16.0% 2,396.1 2,516
Slide 16: 9M 2025 Group's results by Sector
9M 2025 Group’s results by Sector REVENUES EBITDA GROUP EAT ADJUSTED Eu million 9m 19 9m 20 9m 21 9m 22 9m 23 9m 24 9m 25 9m 19 9m 20 9m 21 9m 22 9m 23 9m 24 9m 25 9m 19 9m 20 9m 21 9m 22 9m 23 9m 24 9m 25 Software & System Integ. 253.7 308.5 355.1 419.3 501.8 609.3 646.7 19.2 27.3 39.8 50.5 61.2 75
Slide 17: Q3 2025 Group's results by Sector
Q3 2025 Group’s results by Sector REVENUES EBITDA GROUP EAT ADJUSTED Eu million Q3 19 Q3 20 Q3 21 Q3 22 Q3 23 Q3 24 Q3 25 Q3 19 Q3 20 Q3 21 Q3 22 Q3 23 Q3 24 Q3 25 Q3 19 Q3 20 Q3 21 Q3 22 Q3 23 Q3 24 Q3 25 Software & System Integ. 101.8 130.9 143.6 168.7 199.0 241.1 241.8 7.9 11.5 16.1 18.6 24.0 29.
Slide 18: Group's Net Financial Charges quarterly trend
Group’s Net Financial Charges quarterly trend Eu million Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 • In Q3 25 net financial charges were equal to Eu 10.4 Mn showing a first sight of recovery compared to H1 2025 trend, driven by Financial income / (charges) (7.3) (8.7) (9.1) (11.9) (7.7
Slide 19: Group Financial Results (NFP, IFRS 16, IFRS 3 and NWC) Apr 20-Apr 25E
Group Financial Results (NFP, IFRS 16, IFRS 3 and NWC) Apr 20-Apr 25E Net Financial Position (Apr 20A – Apr 25E) Oct 24 Currency: €'m Apr 20 Oct 20 Apr 21 Oct 21 Apr 22 Oct22 Apr 23 Oct 23 Jan 24 Apr 24 Jan 25 Apr 25E The table opposite presents the Pro-forma Net Financial Position reported Sharehol
Slide 20: Guidance for the FY 2025 and market consensus for the FY 2026B
Guidance for the FY 2025 and market consensus for the FY 2026B Eu million FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 251 FY 262 Revenue 1,363.0 1,551.0 1,776.0 2,037.4 2,389.9 2,907.6 3,210.4 3,400.0 3,600.0 Change Y/Y 13.8% 14.5% 14.7% 17.3% 21.7% 10.4% 5.9% 5.9% EBITDA 63.1 74.3 94.5 126.0 167.7
Slide 21: Group long-term growth path: guidance for FY 2025, market 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 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 9months results as of January 31, 2025 by segment
Group 9months results as of January 31, 2025 by segment Euro million 9M Period as of January 31, 2024 9M Period as of January 31, 2025 Digital Digital VAS SSI BS Corporate Group VAS SSI BS Corporate Group Green Green Total Revenues and Other Income 1,609.9 198.2 609.3 83.3 16.1 2,396.1 1,581.9 253.7
Slide 24: Balance Sheet as of Jan 31, 2025 reported
Balance Sheet as of Jan 31, 2025 reported Jan23 Jan24 Jan25 Var Jan25 Euro million reported reported reported vs Jan24 Intangible Assets 314.2 446.8 516.2 69.5 Property, plant and equipment 123.2 140.0 152.6 12.7 Investments valued at equity 15.3 24.0 24.5 0.4 Other non-current receivables and defer
Slide 25: Income Statement as of April 30, 2024 reported
Income Statement as of April 30, 2024 reported Consolidated reclassified Income Statement Change FY April 30, 2022 % April 30, 2023 % April 30, 2024 % (Euro/thousand) 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 2,389,82
Slide 26: Balance Sheet as of April 30, 2024 as reported
Balance Sheet as of April 30, 2024 as reported Change Consolidated Reclassified Balance Sheet (Euro/thousand) April 30, 2022 April 30, 2023 April 30, 2024 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 27: 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 28: 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