Slide 1: 1Q 2015 results
1Q 2015 results Partner in a changing world
Slide 2: Solutions partner for your world
We focus on strategic markets for the growth and modernization of every country. Solutions partner for your world Tesmec designs, manufactures and sells products, technologies and integrated solutions for the construction, maintenance and efficiency of infrastructures related to the transport and di
Slide 3: 1Q2015 Economic Results
1Q2015 Economic Results GROUP 1Q2015 1Q2014 Delta % Revenues 34,4 27,2 26,4% ENERGY 1Q20151Q2014Delta % EBITDA 4,4 3,2 37,5% Revenues 19,5 13,8 41,3% % on Revenues 13% 12% EBITDA 3,5 2,2 59,1% % on Revenues 17,9% 15,9% EBIT 2,4 1,6 50,0% % on Revenues 7% 6% TRENCHERS 1Q20151Q2014Delta % Profit Befor
Slide 4: Main business highlights
Main business highlights ENERGY Stringing EXECUTION OF BIG ORDER FOR OVERHEAD POWER LINES CONSTRUCTION IN BRAZIL IN TIMING WITH THE TOUGH PROJECT SCHEDULE Automation NEW ORDERS OF ELECTRONIC DEVICES AND SENSORS FOR SMART MANAGEMENT OF MEDIUM VOLTAGE GRIDS CONFIRMING THE ADDED VALUE OF TESMEC SOLUTIO
Slide 5: Revenues by geography
Revenues 1Q2014 1Q2015 INTERNATIONAL SCALE AND EXPOSURE TO GROWING ECONOMIES 10% 7% 24% 31% Italy 26% Europe 38% Middle East 4% BRICs and Oceania 5% 11% Africa 5% North-Central America 23% 16% 5
Slide 6: Foreign subsidiaries
Foreign subsidiaries TESMEC SERVICE (100%) SGE (100%) JV CONDUX-TESMEC (50%) Revenue 0.6 million € Revenue 0.6 million € Revenue 0.8 million € (-40% vs 1Q2014) First revenues of Automation business (-79% vs 1Q2014) * * JV TESMEC PENINSULA (49%) Revenue 1.7 million € (- 54% vs 1Q2014) TESMEC USA (100
Slide 7: EBITDA 1Q2015
EBITDA 1Q2015 12 9 7,2 6 (3,8) (1,0) (1,1) (0,1) 0 3 4,4 3,2 0 EBITDA Revenues Raw Cost for Personnel Equity Capitalized EBITDA 1Q2014 materials Services Costs Investments R&D 1Q2015 and other Expenses costs Increase both in absolute and in relative terms. 1Q2014 1Q2015 Different trend across Sector
Slide 8: 1Q2015 Financial Results
1Q2015 Financial Results Financial Information (Euro mln) 1Q2015 2014 Net Working Capital 70.9 57.9 Non Current assets 67.5 65.3 Other Long Term assets/liabilities (2.7) (1.7) Net Invested Capital 135.7 121.5 Net Financial Indebtness 80.9 73.4 Equity 54.8 48.1 Total Sources of Financing 135.7 121.5
Slide 9: Working Capital Evolution
Working Capital Evolution Working Capital Evolution 8,5 0,2 0,7 75 9,5 (5,9) 50 70,9 25 57,9 0 2014 Inventories WIP Trade Trade Other current 1Q2015 Net Working Receivables Payables ass. / liab. Net Working capital capital Days Days Euro Mln 1Q2015 2014 1Q2015 2014 Trade Receivables 49,8 41,3 130 12
Slide 10: Net Financial Position Evolution
Net Financial Position Evolution Operating Net Financial Position without figurative debt for Grassobbio premises 80 IAS17 70 IAS17 12,9 1,7 0,9 0,9 18,6 60 18,9 50 40 8,6 30 54,5 62,3 20 10 0 NFP OFCF NWC Other Int.exp. Taxes NFP FY 2014 capex Net net 1Q2015 NFP increase has been mainly influenced
Slide 11: TESMEC TF 6% AP21 EUR
TESMEC TF 6% AP21 EUR CERVED GROUP - CLASSES OF RISK Tesmec has been assigned a solicited rating by Cerved Group on March 19, 2015 A 1.1 A 1.2 A 2.2 A 1.3 corresponding to high credit rating SAFETY A 2.1 with Probability of Default index of 0.35% A 2.2 TESMEC S.p.A. 6% 2014-2021 A 3.1 Trading Venue:
Slide 12: Marais Acquisition - April 8, 2015
Marais Acquisition - April 8, 2015 The acquisition is of strategic importance for Tesmec in that it will allow the Group to use the technological skills developed by Marais as part of the service activities in telecommunications and laying of optical fibers and of underground electrical cables and t
Slide 13: Order Book 1Q2015
ENERGY Order Book 1Q2015 € mln TRENCHERS 45,2 40,5 45 € mln 30 30 27,0 24,8 19,5 14,8 15 14,3 12,1 15 0 Order 1Q2015 Order Order book Revenues Intake book FY 2014 FY 2015 0 Order book 1Q2015 Order Order book FY2014 Revenues Intake FY2015 RAILWAY € mln 10 Backlog Trend 100 24,8 5,9 5,8 80 62,1 52,7 5
Slide 14: Outlook 2015
Outlook 2015 Revenues Euro 45% CONFIRMATION OF THE GROWTH IN ENERGY AUTOMATION BUSINESS 55% USD NORMALIZATION OF RESULTS IN THE RAILWAY SECTOR THANKS TO THE FINALIZATION OF PROJECTS IN THE SECOND HALF OF THE YEAR STRATEGIC CHOICE TO INCREASE THE PRESENCE IN MARKET SEGMENTS SUCH Operating Costs AS WA
Slide 15: Summary 1Q2015 Profit & Loss statement
Summary 1Q2015 Profit & Loss statement Delta vs Profit & Loss Account (€ mln) 1Q2015 1Q2014 Delta % 2014 Net Revenues 34,4 27,2 7,2 26,4% Raw materials costs (-) (17,7) (13,9) (3,8) 28% Cost for services (-) (5,7) (4,8) (0,9) 19% Personnel Costs (-) (7,4) (6,3) (1,1) 17% Other operating revenues/cos
Slide 16: Summary 1Q2015 Balance Sheet
Summary 1Q2015 Balance Sheet Balance Sheet (€ mln) 1Q2015 2014 Inventory 64,8 55,4 W ork in progress contracts 5,4 5,2 Accounts receivable 49,8 41,3 Accounts payable (-) (40,1) (34,2) Op. working capital 79,9 67,7 Other current assets (liabilities) (9,0) (9,8) Net working capital 70,9 57,9 Tangible
Slide 17: 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