Somec S.p.a. · MIL:SOM
Somec — Munich Capital Market Conference 2025
44 slides from Somec's conference presentation, Nov 12, 2025
Slide 1: Munich Capital Market Conference
Munich Capital Market Conference 12 November 2025
Slide 2: Today Speakers
TODAY SPEAKERS Oscar Marchetto Daniel Bicciato Chairman and CEO Group CFO 2
Slide 3: Company Overview, H1 2025 Financial Results, Q&A
1. COMPANY OVERVIEW 2. H1 2025 FINANCIAL RESULTS 3. Q&A ANNEX
Slide 4: Somec Group is one of the world's leading experts in complex turnkey projects
SOMEC GROUP IS ONE OF THE WORLD’S LEADING EXPERTS IN THE CONSTRUCTION OF COMPLEX TURNKEY PROJECTS Somec Group encompasses an ecosystem of expert companies specialised in engineering, design and deployment of complex turnkey projects in both civil and naval engineering. Our companies excel through in
Slide 5: 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 6: Somec Group international presence
SOMEC GROUP INTERNATIONAL PRESENCE 6
Slide 7: A world of companies specialising in three macro segments
A WORLD OF COMPANIES SPECIALISING IN THREE MACRO SEGMENTS 7
Slide 8: Focus on Marine & Cruise Industry
FOCUS ON MARINE & CRUISE INDUSTRY 37 MILLION ECO-FRIENDLY SHIPS PASSENGERS AND PERSONALIZED GLOBALLY IN 2025 TRAVEL EXPERIENCES Consistent Growth in Passenger Volume. Top companies like Royal Caribbean, Carnival Corporation, and Norwegian Cruise The cruise industry is expected to exceed 37 million p
Slide 9: Focus on Land-Based Area
FOCUS ON LAND-BASED AREA 4.5 EVOLVING % CAGR LUXURY INTERIOR DESIGN RETAIL SECTOR Investments in boutiques and flagship stores Growth of turnkey contracting in both public and private building: the interior design with high aesthetic and technological standards market is experiencing significant gro
Slide 10: Invest in people, invest in the future
INVEST IN PEOPLE, INVEST IN THE FUTURE "People are the greatest asset in a company. The continuous innovation at customer’s service and the constant enhancement of performances are the objectives reached by working in team.” Oscar Marchetto Attracting, retaining and valuing talent is pivotal in the
Slide 11: People Empowerment
PEOPLE EMPOWERMENT TEAM GROWTH HEADCOUNT BY DEPARTMENT Somec Group organization boasts an experienced and skilled team that grows day by day through an on going program of training and development. 11
Slide 12: 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 13: 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 2021, Somec Group has been publishing its Sustainability Report - Consolidated N
Slide 14: Horizons: engineered systems for naval architecture and building façades
HORIZONS ENGINEERED SYSTEMS FOR NAVAL ARCHITECTURE AND BUILDING FAÇADES Marine glazing One of the major players in North America and Europe when it comes to the design, procurement, production, installation and maintenance of ship and building construction systems, characterised by the highest quali
Slide 15: Horizons marine projects
MEIN SCHIFF 7 ILMA ICON OF T HE SEAS Tui Cruises The Ritz Carlton Royal Caribbean ST AR OF T HE SEAS NORWEGIAN PRIMA Royal Caribbean Norwegian Cruise Line 15
Slide 16: Horizons marine projects
SUN PRINCESS DISNEY T REASURE Princess Cruises Disney Cruise Line MSC MERAVIGLIA CELEBRIT Y APEX MSC Crociere Celebrity Cruises CARNIVAL VIST A Carnival Cruise Line 16
Slide 17: Horizons land-based projects
THE PENDRY New York City - USA UMASS MEDICAL SCHOOL Worcester, MA - USA SVEN Long Island City, NY - USA 17
Slide 18: Horizons projects
ECOSTA P F L - SMERALDA BÂT IMENT ME 2050 M STREET LCosta a u s aCrociere nne - Switzerland W ashington DC - USA T WA FLIGHT CENT ER HOT EL T HE RAGON INST IT UT E TNORWEGIAN H E J A C X PRIMA Jamai ca Queens, NY - USA Cambr i dge, MA- USA L Norwegian o n g I s l a nCruise d C i tLine y, NY- USA 18
Slide 19: Talenta: professional kitchen systems and products
TALENTA PROFESSIONAL KITCHEN SYSTEMS AND PRODUCTS Specialized integrated systems for professional kitchens Marine catering seamlessly blend aesthetics with high performance. equipment Turnkey projects tailored for the catering and hospitality industry adhere to the highest standards of certified eff
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Slide 23: Mestieri: design and production of bespoke interiors
MESTIERI DESIGN AND PRODUCTION OF BESPOKE INTERIORS Marine complex projects A selected group of high-end artisan brands, each an absolute excellence in its own sector. Under Mestieri direction and coordination, this integrated ecosystem applies its genius to the bespoke creation of fine interiors an
Slide 24: Mestieri land-based projects
MUSÉE DE LA MARINE PRINT EMPS Paris - France New York- USA T IFFANY St ut t g art - Ger many DUO MILAN HOT EL Milan - Italy 24
Slide 25: Sheikh Zayed Grand Mosque Center
SHEIKH ZAYED GRAND MOSQUE CENT ER Abu Dhabi - UAE 25
Slide 26: Mestieri marine projects
SEVEN SEAS SPLENDOR Regent Seven Seas Cruises NORWEGIAN PRIMA Norwegian Cruise Line SUN PRINCESS NORWEGIAN VIVA 26 Princess Cruises Norwegian Cruise Line
Slide 27: Company Overview, H1 2025 Financial Results, Q&A
1. COMPANY OVERVIEW 2. H1 2025 FINANCIAL RESULTS 3. Q&A ANNEX
Slide 28: H1 2025 financial highlights: strong margin recovery across the P&L
H1 2025 FINANCIAL HIGHLIGHTS: STRONG MARGIN RECOVERY ACROSS THE ENTIRE P&L NAVAL SECTOR & REFITTING ACTIVITY BOOSTING IMPROVEMENTS ACROSS DIVISIONS TOTAL REVENUES EBITDA NET RESULT 192.7 €m 15.8 €m 2.0 €m (185.6 €m H1 2024) (12.8 €m H1 2024) (-1.2 €m H1 2024) +3.9% +24.1% vs H1 2024 vs H1 2024 NET F
Slide 29: Consistent and sustainable top-line progression
CONSISTENT AND SUSTAINABLE TOP-LINE PROGRESSION REACHING € 192.7 MILLION REVENUES UP 3.9%, DRIVEN BY THE STRONG PERFORMANCE OF MESTIERI & TALENTA DIVISION TOTAL REVENUES €m REVENUES BREAKDOWN BY DIVISION % on total +3.9% vs H1 2024 21.0% 25.3% H1 2024 H1 2025 14.5% 64.5% 60.0% 14.8% REVENUES BREAKDO
Slide 30: Excellent improvement of marginality, EBITDA +24.1%, EBIT +230.8%
EXCELLENT IMPROVEMENT OF MARGINALITY, EBITDA + 24.1%, EBIT +230.8% STRONG RESULTS SUPPORTED BY NAVAL DIVISION, HIGHER REFITTING VOLUMES AND RIORGANIZATION EBITDA, EBITDA MARGIN €m/% EBIT, EBIT MARGIN €m/% + 130 bp +24.1% + 290 bp vs H1 2024 +230.8% EBIT EBITDA EBITDA EBIT vs H1 2024 Margin Margin Ma
Slide 31: Order backlog
ORDER BACKLOG CAPTURING OPPORTUNITIES IN FAST-GROWING MARKETS WITH STRONG MOMENTUM BACKLOG €m BACKLOG BREAKDOWN BY SCHEDULED YEAR % 744 769* 79.4% 82.7% Backlog Awarded Option contracts 20.6% 17.3% FY 2024 H1 2025 * The figures includes € 110 million orders announced on 14 July 2025 NEW ORDERS +57 €
Slide 32: Horizons
HORIZONS PROFITABILITY STRENGTH OFFSET BY MODEST REVENUES DECLINE REVENUES OF THE DIVISION €m -3.5% • vs H1 2024 Stable division revenues reflect different project timing, with robust backlog and proven service quality. EBITDA AND EBITDA MARGIN OF THE DIVISION €m/% +17.9% Vs H1 2024 EBITDA Margin 9.
Slide 33: Talenta
TALENTA REVENUES EXPANSION WITH EBITDA BROADLY UNCHANGED REVENUES OF THE DIVISION €m • Talenta posts healthy revenues expansion. 5.7% YoY EBITDA AND EBITDA MARGIN OF THE DIVISION €m/% -2.2% YoY EBITDA • EBITDA Margin Margin EBITDA almost in line due to the integration of production 8.0% 7.4% plants.
Slide 34: Mestieri
MESTIERI ROBUST REVENUES GROWTH COUPLED WITH EBITDA DOUBLING REVENUES OF THE DIVISION €m + 25.3% YoY • Mestieri achieves robust top-line growth driven by naval projects EBITDA AND EBITDA MARGIN OF THE DIVISION €m/% + 107.7% EBITDA Margin • EBITDA up by 108%, over two times higher YoY 5.8% EBITDA Mar
Slide 35: Consolidated net result 2025 returns to positive territory
CONSOLIDATED NET RESULT 2025 RETURNS TO POSITIVE TERRITORY PROFITABILITY RESTORED: EXECUTION HIGHLIGHTS BENEFITS OF REORGANIZATION CONSOLIDATED NET RESULT €m "People are the greatest asset in a company. The continuous innovation at customer’s service and the constant enhancement of performances are
Slide 36: Net financial position on the right track
NET FINANCIAL POSITION ON THE RIGHT TRACK DEBT PROFILE HEADING IN THE RIGHT DIRECTION FINANCIAL POSITION EX- IFRS16 - net debt €m CASH FLOW €m • Improved cash flow performance driven by tighter operational discipline. • EBITDA to cash conversion in the semester was affected by a temporary delay in c
Slide 37: Q&A
1. COMPANY OVERVIEW 2. H1 2025 FINANCIAL RESULTS 3. Q&A ANNEX
Slide 38: Annex
1. COMPANY OVERVIEW 2. H1 2025 FINANCIAL RESULTS 3. Q&A ANNEX
Slide 39: H1 2025 Consolidated Income Statement
H1 2025 CONSOLIDATED INCOME STATEMENT RECLASSIFIED ‘000 Euro 30.06.2025 % 30.06.2024 % ∆ ∆% Revenues from contracts with customers 191,661 99.4% 183,914 99.1% 7,747 4.2% Other revenues and income 1,063 0.6% 1,650 0.9% (587) -35.6% Revenues 192,724 100.0% 185,564 100.0% 7,160 3.9% Materials, services
Slide 40: H1 2025 Consolidated Balance Sheet
H1 2025 CONSOLIDATED BALANCE SHEET RECLASSIFIED ‘000 Euro 30.06.2025 31.12.2024 Intangible assets 42,593 46,012 of which Goodwill 32,244 33,063 Tangible assets 18,047 18,012 Right-of-use assets 27,233 21,933 Investments in associates 296 289 Non-current financial assets 335 326 Other non-current ass
Slide 41: H1 2025 Consolidated Net Financial Position
H1 2025 CONSOLIDATED NET FINANCIAL POSITION ‘000 Euro 30.06.2025 31.12.2024 A. Cash and cash equivalents 48 65 B. Bank deposits 31,485 47,413 C. Total liquidity (A+B) 31,533 47,478 D. Current financial assets 24,177 28,149 E. Current bank debt (31,941) (43,302) F. Current portion of long-term debt (
Slide 42: H1 2025 Consolidated Cash Flow Statement
H1 2025 CONSOLIDATED CASH FLOW STATEMENT RECLASSIFIED ‘000 Euro 30.06.2025 30.06.2024 Cash flows from operating activities 9,107 15,833 Cash flows from investing activities (3,571) (2,299) Free Cash Flow 5,536 13,534 Cash flows from financing activities (19,490) (13,853) Effect of exchange rate chan
Slide 43: 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 44: (…) The truth is that the technical, industrial and craft expertise of our people,
‘‘ (…) The truth is that the technical, industrial and craft expertise of our people, and the freedom with which everyone in the Group can be innovative, give us the energy to pursue our dream - to become the hub of Italian construction quality. ” OSCAR MARCHETTO CHAIRMAN & CEO somecgruppo.com