Somec S.p.a. · MIL:SOM
Somec — H1 2026 Earnings Presentation
31 slides from Somec's earnings presentation, Sep 16, 2026
Slide 1: H1 2026 Financial Results
GRUPI H1 2026 FINANCIAL RESULTS
Slide 2: Speakers
SPEAKERS OSCAR MARCHETTO ALESSANDRO ZANCHETTA DANIEL BICCIATO Chairman and Chief Executive Officer Chief Corporate Officer Group Chief Financial Officer 25 MARCH 2026 FY 2025 FINANCIAL RESULTS 2
Slide 3: Somec Group, world leading expert in complex turnkey projects
SOMEC GROUP, WORLD LEADING EXPERT IN THE CONSTRUCTION OF COMPLEX TURNKEY PROJECTS IN BOTH CIVIL AND NAVAL SECTORS 3
Slide 4: From local company to international group
FROM LOCAL COMPANY TO INTERNATIONAL GROUP 1978 1993 2005 Year of foundation Somec enters the The company adds another marine glazing business challenging business: the marine refitting 2013 2016-17 2018 Oscar Marchetto acquires With the acquisitions of Oxin Listing on the Italian stock the majority
Slide 5: 3 divisions of the group
3 DIVISIONS OF THE GROUP * ** * A brand of GICO / ** A brand of Pizza Group 5
Slide 6: Backlog: orders first 9 months
BACKLOG: ORDERS FIRST 9 MONTHS
Slide 7: More than 0.5 € bln orders announced in 2026
MORE THAN 0.5 € BLN ORDERS ANNOUNCED IN 2026 ORDER VALUE €M HORIZONS NOT DISCLOSED TALENTA MESTIERI 56 60 53 54 41 38 19 14 January February February May May June June June September 7
Slide 8: Fabbrica LLC: 83,600 sqm of curtain walling, 350 Park Avenue NY
FABBRICA LLC: 83,600 SQM OF CURTAIN WALLING 350 PARK AVENUE NY DESIGNED BY FOSTER+PARTNERS 8
Slide 9: Contracts for marine glazing, onboard kitchens and bespoke interiors
SOMEC: >208 MILLION EURO CONTRACTS FOR MARINE GLAZING SYSTEMS OXIN: 53 MILLION EURO CONTRACT FOR ONBOARD KITCHENS TSI: 41 MILLION EURO CONTRACT FOR BESPOKE INTERIORS 9
Slide 10: H1 2026 Results Highlights
H1 2026 RESULTS HIGHLIGHTS I N D I C AT O R H1 2025 RESULT H1 2026 RESULT YoY V S T AR G E T (-3.3 %) TOTAL REVENUES 192.7 €M 186.3 €M -1.4 % Constant forex EBITDA 15.8 €M 17.5 €M +11 % EBITDA MARGIN 8.2 % 9.4 % +120 BPS NET RESULT 2.0 €M 6.1 €M EXCELLENT RESULT REDUCTION PATH NET FINANCIAL POSITION
Slide 11: Total Revenues
TOTAL REVENUES TOTAL REVENUES TOTAL REVENUES BREAKDOWN BY GEOGRAPHY €M % ON TOTAL -3.3% YOY ROW ROW AT CONSTANT FOREX 3.8 5.0% 6.1% -1.4% CONSTANT FOREX NORTH NORTH AMERICA AMERICA 43.5% 35.3% 192.7 186.3 EUROPE EUROPE 51.5% 58.6% H1 2025 H1 2026 H1 2025 H1 2026 Consolidated revenues amounted to €18
Slide 12: Revenues by Division
REVENUES BY DIVISION HORIZONS REVENUES TALENTA REVENUES MESTIERI REVENUES €M €M €M -3.7% +41.3% -25.7% YoY YoY YoY 117.0 40.3 50.8 112.7 28.5 37.8 H1 2025 H1 2026 H1 2025 H1 2026 H1 2025 H1 2026 Performance mainly reflected EUR/USD exchange rate movements and the Strong growth was supported by the p
Slide 13: EBITDA
EBITDA The highest half-year EBITDA in the Group’s history EBITDA EBITDA BRIDGE €M / % €M +10.8% 3.0 17.6 YoY 15.8 -0.1 -1.1 EBITDA EBITDA 17.5 MARGIN MARGIN 15.8 9.4% 8.2% H1 2025 H1 2026 EBITDA H1 2025 Delta Horizons Delta Talenta Delta Mestieri EBITDA H1 2026 EBITDA reached an all-time high for t
Slide 14: EBITDA by Division
EBITDA BY DIVISION Excellent performance of Talenta HORIZONS EBITDA TALENTA EBITDA MESTIERI EBITDA €M / % €M / % €M / % -60 BPS +580 BPS +250 BPS YoY YoY YoY EBITDA EBITDA EBITDA MARGIN MARGIN MARGIN EBITDA EBITDA 8.7% MARGIN MARGIN 4.6 11.3% 10.3% 8.1% 5.5% 4.0 3.9 10.2 9.1 1.6 EBITDA MARGIN H1 202
Slide 15: Net Result
NET RESULT Group’s net profit exceeds 6 million euros, up three-fold BRIDGE EBITDA - NET RESULT NET RESULT €M €M 17.5 6.1 11.2 -6.3 9.5 -1.8 2.0 6.1 -3.3 H1 2024 H1 2025 H1 2026 -1.2 EBITDA DEPR EBIT NET EBT TAX NET AND FINANCIAL RESULT AMORT EXPENSES 15
Slide 16: Net Financial Position
NET FINANCIAL POSITION NET FINANCIAL POSITION CASH FLOW €M €M NFP NFP ex. IFRS16-DEBT 1.8 -1.1% -9.2% 47.7 YoY YoY -1.6 -0.3 -4.6 38.3 -3.5 -0.2 -1.0 36.5 36.1 13.8 12.5 FY 2025 H1 2026 FY 2025 H1 2026 CASH AS AT NET CASH FLOW CAPEX P&C AND LOAN LEASE DIVIDEND OTHER CASH AS AT 31.12.2025 FROM OPERAT
Slide 17: Net Financial Position
NET FINANCIAL POSITION Debt reduction path still on track FINANCIAL POSITION E BREAKDOWN LEVERAGE REDUCTION PATH €M €M / % H1 2025 FY 2025 H1 2026 -61.8 -36.5 -36.1 -42% VS H1 2025 27.7 32.3 24.2 47.7 38.3 31.5 H1 2025 FY 2025 H1 2026 61.8 36.1 -81.2 -77.7 -71.8 36.5 -11.5 -11.3 -14.9 -23.6 H1 2025
Slide 18: Order Backlog as of 30 June 2026
ORDER BACKLOG AS OF 30 JUNE 2026 Record of orders collected TOTAL BACKLOG TOTAL BACKLOG BREAKDOWN BY SCHEDULED YEAR AND DIVISION €M / % €M 211 22.1% +24% MORE THAN YoY 1.1 €BLN 164 17.2% 157 16.4% 117 12.2% 99 90 10.4% 9.3% 956 53 771 5.6% 28 3.0% 17 13 7 1.4% 1.7% 0.7% FY 2025 H1 2026 AS OF TODAY 2
Slide 19: Focus on Marine & Cruise Industry
FOCUS ON MARINE & CRUISE INDUSTRY 42 MILLION PASSENGERS EXPECTED GLOBALLY IN 2029 40.3 41.2 42.1 38.3 37.2 34.6 31.1 29.7 28.5 26.7 25.2 21.6 20.4 18.4 17.5 16.3 16.9 14.8 13 13.4 12 12.6 10.6 11.3 9.6 8.7 7.6 7.6 6.1 6.6 5.1 5.5 5.8 4.1 4.3 4.7 4.8 4.8 4.8 3 3.2 3.7 1.9 2.3 2.6 1985 1986 1987 1988
Slide 20: Innovation-driven work culture
INNOVATION-DRIVEN WORK CULTURE MISSION Be a credible and reliable partner of excellence VISION To become the hub of Italian construction quality VALUES The freedom enjoyed by each individual, engineers, specialists and craftsmen, constantly searching for innovative solutions and processes 20
Slide 21: Developing, preserving and passing on the Italian know-how
DEVELOPING, PRESERVING AND PASSING ON THE ITALIAN KNOW-HOW Somec Group was set up and developed as a local business based on the skilled hands of expert craftsmen. As it has expanded, it has always recognised the priceless value of Italian expertise, which is precise when it comes down to fine detai
Slide 22: Building a better future every day
BUILDING A BETTER FUTURE EVERY DAY Somec Group embraces responsibility. In a time where technology enables high-performance and sustainable solutions, we ensure full accountability for our environmental footprint. Since 2020, Somec Group has been publishing its Sustainability Report. Starting from t
Slide 23: H1 2026 Results Q&A
H1 2026 RESULTS Q&A ANNEX
Slide 24: Annex
H1 2026 RESULTS Q&A ANNEX
Slide 25: Shareholding
SHAREHOLDING S H AR E H O L D E R S # O F S H AR E S % S H AR E C AP I T AL VENEZIA S.P.A.* 5,547,175 76.18% OSCAR MARCHETTO** 55,259 0.76% GIAN CARLO CORAZZA*** 10,000 0.14% ALESSANDRO ZANCHETTA**** 8,000 0.11% TREASURY SHARES 968 0.01% FREE FLOAT 1,660,473 22.80% TOTAL 7,281,875 100.00% * of which
Slide 26: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT H1 2026 / Reclassified Amounts in €/000 30.06.2026 % 30.06.2025 % ∆ ∆% Revenues from contracts with customers 184,809 99.2% 191,661 99.4% (6,852) -3.6% Other operating income 1,514 0.8% 1,063 0.6% 451 42.4% Total revenues 186,323 100.0% 192,724 100.0% (6,401) -3.3% Purc
Slide 27: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET H1 2026 / Reclassified ‘000 Euro 30.06.2026 30.06.2025 Intangible assets 38,989 39,831 of which Goodwill 31,409 31,229 Tangible assets 17,610 18,081 Right-of-use assets 30,270 29,461 Investments in associates 365 321 Non-current financial assets 398 335 Other non-current a
Slide 28: Consolidated Net Financial Position
CONSOLIDATED NET FINANCIAL POSITION H1 2026 ‘000 Euro 30.06.2026 31.12.2025 A. Cash 64 46 B. Bank deposits 38,221 47,672 C. Total liquidity (A+B) 38,286 47,718 D. Current financial receivables 32,253 27,728 E. Current bank debt (27,905) (30,922) F. Current portion of bank loans and credit facilities
Slide 29: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT H1 2026 / Reclassified ‘000 Euro 30.06.2026 30.06.2025 Cash flows from operating activities 1,762 9,107 Cash flows from investing activities (1,810) (3,571) Free Cash Flow (48) 5,536 Cash flows from financing activities (9,737) (19,490) Effect of exchange rate change
Slide 30: Disclaimer and Notes
DISCLAIMER AND NOTES This document has been prepared by SOMEC S.p.A. (the ‘Company’) solely for the purposes of this presentation. This document may not be reproduced or distributed in whole or in part by any other person with any way than the Company. The Company takes no responsibility for the use
Slide 31: Investor Relations
INVESTOR RELATIONS investorrelations@somecgroup.com