Tesmec S.p.a. · MIL:TES
Tesmec — STAR Conference 2015 - London
37 slides from Tesmec's conference presentation, Oct 5, 2015
Slide 1: STAR Conference – London: Partner in a changing world
STAR Conference – London 5/10/2015 Partner in a changing world
Slide 2: 2015 company overview
2015 company overview
Slide 3: People change history
People change history Tesmec was established in 1951 in Bergamo - Italy as From FOCUS on a pioneering stringing equipment manufacturer. FAMILY company INTEGRATION to PUBLIC FOCUS on Second company INNOVATION Since then Tesmec Group has FOCUS on product FOCUS on evolved as one of the most INVENTION l
Slide 4: Vision and mission
Imagination for progress Modern societies, as well as the emerging ones, face future challenges to vision invest in energy and Tesmec Advanced technologies are developed in accordance with the ISEQ telecommunications sectors. philosophy "Innovation, Safety, Efficiency, Quality" always respecting the
Slide 5: A widespread network of people
A widespread network of people 600 Tesmec Group is Leader 60 in the market of the + infrastructures related to the transport and distribution of energy, data and material. + years of experience people Tesmec people are pioneers 8% since the origins, and their proud R&D spread the name towards huge a
Slide 6: Global partner with local presence
Global partner with local presence Tesmec Group headquarters are located in Grassobbio, in the vicinity of the Northern Italian town of Bergamo. Tesmec has also other five production plants: three in 6 2 9 2 Italy, in Endine Gaiano (Bergamo), Sirone (Lecco), Production Joint Subsidiaries Associated
Slide 7: Strategic Innovation
Strategic Innovation The development of better or more effective technologies, processes PRODUCTS SUPPLIER VALUE ADDED SOLUTIONS PROVIDER and products is a priority Equipment, machines, tools and Intelligence, specialists’ competences, for everyone in Tesmec. technical services expertise, technologi
Slide 8: 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 9: Committed to quality
Committed to quality ENERGY POWER LINES UNDERGROUND GRID MANAGEMENT & CONSTRUCTION & CABLES AUTOMATION MAINTENANCE LAYING DEVICES 9
Slide 10: Energy main projects
5 1 4 3 2 6 7 8 2 3 1 Reconductoring Top efficiency In altitude 1 USA 2 BRAZIL 3 PERU 4 Fjord NORWAY crossing 1 Fault BRAZIL passage indicators NHPL Texas jobsite 500 kV line, 6 T&D lines 500 kV line at 1000 mt a.s.l., Special machines for fjord Fault detectors for MV lines Live line reconductoring
Slide 11: Entrepreneurs of efficiency
Entrepreneurs of efficiency RAILWAY CATENARY INSTALLATION MAINTENANCE POWERING & REPOWERING 11
Slide 12: Railway main projects
2 3 4 5 6 1 7 8 Eagle P3 Project Huge, top performing unit TGV High level maintenance 1 USA 2 USA 3 FRANCE 4 ITALY Constant Tension Stringing Unit Special-purpose equipment for TGV high speed railway Multipurpose machines (APV), for a very fast rail wire installation stringing and recovering wires.
Slide 13: Maximized attitude
Maximized attitude UNDERGROUND PIPELINES, TELECOM, BULK EXCAVATION, SPECIALIST DIGGING DRAINAGE SURFACE MINING SERVICE 13
Slide 14: Trenchers main projects
1 7 2 6 3 4 8 10 9 5 11 Permafrost cutting Hard rock trenching Agricultural drainage Gas Pipeline Desert Pipeline 1 CANADA 2 USA 3 USA 4 MEXICO 5 CHILE 675 miles natural gas pipeline Granite, quarz and massive Fully automatic guidance system 382 km 36” gas pipeline Double parallel water pipeline dep
Slide 15: Human Values
308 7 7 Human Values 5 117 17 137 40 4 9 Tesmec identifies in honesty, membership and respect the values that distinguish our history. Figures as at We are resolute to continue 30/06/2015 building our future on human respect, acting with coherence and honesty towards colleagues, clients and supplier
Slide 16: 1H2015 business highlights
1H2015 business highlights
Slide 17: Main business highlights: Energy
Main business highlights ENERGY POSITIVE IMPACT OF EUROPE AND SOUTH AMERICA AUTOMATION SEGMENT: GOOD TREND OF 1Q CONFIRMED ALSO IN 2Q END OF DEVELOPMENT PHASE FOR THE INNOVATIVE DEVICE FOR SMART GRIDS (PILOT PHASE TO START) PROJECTS ACTIVITIES POSTPONED IN KEY MARKETS (NORTH AMERICA, INDIA, RUSSIA)
Slide 18: Execution of Brazil order
Execution of Brazil order Execution of big order of stringing equipment for overhead power lines construction in Brazil in timing with the tough project schedule.
Slide 19: Tesmec RGDAT in South America
First orders and revenues in the new Energy Automation business. Tesmec RGDAT in South America Application: monitoring and protection of medium voltage power lines Supply: RGDAT Directional Fault Detector and Off Voltage Indicator device Location: ENEL Power Grids in South America
Slide 20: Main business highlights: Railway
Main business highlights RAILWAY INNOVATIVE RAILCAR EQUIPPED WITH SAFETY AND TECHNICAL DEVICES APPROVED BY THE ITALIAN RAILWAY AUTHORITY NEW CONTRACT AWARDED WITH EUROPEAN RAILWAY CORPORATION RAILCARS FOR THE US MARKET SUCCESSFULLY COMPLETED FACTORY TESTING PHASE AND GOING TO START DYNAMIC TESTS COM
Slide 21: Main business highlights: Trenchers
Main business highlights TRENCHERS IN THE BACKGROUND OF OIL&GAS AND COMMODITIES LOW PRICES, FOCUS ON DIFFERENT MARKET SEGMENTS: TELECOM: NEW PROJECTS FOR ENERGY CABLES AND FIBER OPTIC INSTALLATION ESPECIALLY IN EUROPE AND WEST AFRICA, THANKS TO THE ACQUISITION OF THE FRENCH COMPANY MARAIS WATER PIPE
Slide 22: New opportunities in TLC market
Ongoing projects for Energy Cables and Fiber Optic installation. New opportunities in TLC market UK: 2x47 km parallel cable routes, PE pipes installation for onshore underground cables connecting offshore wind farm Congo: 250 km of fiber optic cable laying between Pointe Noir e Mbinda Ivory Co
Slide 23: Chile water pipeline
TESMEC expertise has been chosen for the main infrastructural projects worldwide. Chile water pipeline Project: two 42” water pipeline Supply: TESMEC 1675 Chainsaw Location: between Caleta Coloso port and a copper mine in the Atacama Desert of northern Chile, 114 miles (185 km) away and 10,170
Slide 24: New Orbital Highway in Qatar
TESMEC expertise has been chosen for the main infrastructural projects worldwide. New Orbital Highway in Qatar Project: 47km of motorways Supply: TESMEC 1475 Rock Hawg Location: the new highway will connect the North Relief Road with Salwa Road, it will bypass Doha and relieve current traffic
Slide 25: 1H2015 Economic and financial data
1H2015 Economic and financial data
Slide 26: 1H2015 Economic Results
1H2015 Economic Results year-on-year statutory figures GROUP (€ mln) 1H2015 1H2014 Delta % Revenues 85,1 54,7 55,6% ENERGY 1H2015 1H2014Delta % EBITDA 14,2 8,9 59,6% Revenues 45,9 22,3 105,8% % on Revenues 17% 16% EBITDA 8,2 3,9 110,3% % on Revenues 18% 17% EBIT 9,6 5,3 81,1% % on Revenues 11% 10% T
Slide 27: 1H2015 Economic Results: organic growth
1H2015 Economic Results organic growth statutory Marais Marais non- organic organic * GROUP (€ mln) 1H2015 recurring recurring 1H2015 1H2014 Δ% Revenues 85,1 5,6 / 79,5 54,7 45,3% EBITDA 14,2 0,3 2,1 11,8 8,9 33,1% % on Revenues 17% 5% 15% 16% EBIT 9,6 -0,3 2,1 7,8 5,3 46,4% % on Revenues 11% -5% 10
Slide 28: Revenues by geography
Revenues 1H2014 1H2015 INTERNATIONAL SCALE AND EXPOSURE TO GROWING ECONOMIES 13% 6% 22% 33% Italy 18% Europe 9% 43% Middle East BRICs and Oceania 8% Africa 5% 10% North-Central America 20% 12% 28
Slide 29: Group Structure
Group Structure Operating Companies TESMEC S.P.A. Fully Consolidated Equity Method Equity Method TESMEC USA (67%)* TESMEC RUS (100%) TESMEC SA (100%) TESMEC PENINSULA BERTEL (49%) (40%) TESMEC SERVICE (100%) TESMEC BALKANI CONDUX TESMEC LOCAVERT (100%) (50%) (38,63%) SGE S.r.l. (100%) TESMEC NEW TEC
Slide 30: EBITDA 1H2015
EBITDA 1H2015 40 35 30 25 20 (18,3) 15 (4,9) 10 (3,4) 2,1 (0,5) (0,1) 30,4 14,2 5 8,9 0 EBITDA Revenues Raw Cost for Personnel Equity Capitalized Marais non- EBITDA 1H2014 materials & Services Costs Investments R&D recurring 1H2015 other costs Expenses EBITDA boosted by Stringing Equipment volumes a
Slide 31: Working Capital Evolution
Working Capital Evolution Working Capital Evolution 100 17,2 80 (0,7) 8,0 (11,4) (3,9) 60 40 67,2 57,9 20 0 2014 Inventories WIP Trade Trade Other current 1H2015 Net Working Receivables Payables ass. / liab. Net Working capital capital statutory Marais Marais non- organic Days Days 2014 Euro Mln 1H2
Slide 32: Net Financial Position Evolution
Net Financial Position Evolution Operating Net Financial Position without figurative debt for Grassobbio premises 90 IAS17 13,6 75 18,3 IAS17 0,7 2,6 60 (13,1) 2,4 18,9 6,8 5,0 45 72,5 30 54,5 15 0 NFP OFCF NWC Other Dividend Int.exp. Taxes Marais NFP FY 2014 capex Net paid net acquisition 1H2015 NF
Slide 33: Order Book 1H2015
Order Book 1H2015 ENERGY € mln 50 45,2 45,9 40 30 24,3 23,6 TRENCHERS 20 € mln 10 38,6 48,3 36,7 40 0 Order 1H2015 Order Order 27,0 book Revenues Intake book 30 FY 2014 1H2015 20 10 0 RAILWAY Order book 1H2015 Order Order book FY2014 Revenues Intake 1H2015 € mln 12 9,9 23,6 8 70.2 5,9 36,7 4,6 mln 4
Slide 34: Outlook 2015
Outlook 2015 Revenues Euro 45% REVENUES: good performance also in the second half of 2015 enhanced by: 55% ENERGY: confirmation of the growth in the Automation segment. Stringing keep on growing USD but at a slower pace compared to the first half of the year TRENCHERS: growth especially in: - teleco
Slide 35: Summary 1H2015 Profit & Loss statement
Summary 1H2015 Profit & Loss statement Delta vs Profit & Loss Account (€ mln) 1H2015 1H2014 Delta % 2014 Net Revenues 85,1 54,7 30,4 55,6% Raw materials costs (-) (44,0) (25,7) (18,3) 71% Cost for services (-) (13,8) (8,9) (4,9) 55% Personnel Costs (-) (16,1) (12,8) (3,3) 26% Other operating revenue
Slide 36: Summary 1H2015 Balance Sheet
Summary 1H2015 Balance Sheet Balance Sheet (€ mln) 1H2015 2014 Inventory 63,4 55,4 W ork in progress contracts 4,6 5,2 Accounts receivable 58,5 41,3 Accounts payable (-) (45,6) (34,2) Op. working capital 80,9 67,7 Other current assets (liabilities) (13,7) (9,8) Net working capital 67,2 57,9 Tangible
Slide 37: 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