Tesmec S.p.a. · MIL:TES
Tesmec — Euronext STAR Conference 2025
57 slides from Tesmec's conference presentation, Mar 27, 2025
Slide 1: Euronext STAR Conference 2025
Euronext STAR Conference 2025 March 27th, 2025 Palazzo Mezzanotte, Milan
Slide 2: Tesmec Group: Integrated Solutions Provider for Energy and Data Transport
TESMEC GROUP: INTEGRATED SOLUTIONS PROVIDER FOR ENERGY AND DATA TRANSPORT Technology partner in markets driven by ENERGY TRANSITION, DIGITALISATION and SUSTAINABILITY with INNOVATIVE, VALUE-ADDED INTEGRATED SOLUTIONS for the construction, maintenance and efficiency of the infrastructure related t
Slide 3: Tesmec Global Presence
TESMEC GLOBAL PRESENCE TESMEC AUTOMATION TESMEC AUTOMATION TESMEC USA TESMEC SPA TESMEC RAIL Fidenza (IT) Patrica (IT) Alvarado (USA) Sirone (IT) Monopoli (IT) (precision machining work) TESMEC SPA Grassobbio (IT) Energy Stringing Energy Automation Railway TESMEC AUTOMATION CONDUX TESMEC TESMEC FRAN
Slide 4: Tesmec Business Units
TESMEC BUSINESS UNITS ENERGY STRINGING ENERGY AUTOMATION TRENCHERS & SURFACE MINERS RAILWAY • Solutions for power lines • Telecommunications solutions • Telecom networks, FTTH & long • Catenary lines installation construction & for HV Grids distance, power cable & maintenance maintenance • Grid Mana
Slide 5: History of Innovation, Investment & Diversification
HISTORY OF INNOVATION, INVESTMENT & DIVERSIFICATION 1951-1960 1984 2010 2012 2015 Pioneer in stringing Trencher product line From FAMILY Company to Expansion strategy Acquisition of the French Group Marais solutions development PUBLIC Company in the RAILWAY business Establishment of “CRF -Officina M
Slide 6: Tesmec Business Drivers
TESMEC BUSINESS DRIVERS Sustainability Services Safety Solutions Systems The commitment in projects Maximum performance and Clean & fast solutions for Advanced products and New technologies to and concrete actions for a accompany the customer with human health care to avoid professional services to
Slide 7: Tesmec Sustainability Path
TESMEC SUSTAINABILITY PATH HUMAN RESOURCES R&D & INNOVATION ENVIRONMENTAL IMPACT & GOVERNANCE Invest in the well-being of employees and local Focus on developing Reduce emissions and communities through health, innovative technologies and environmental impact through safety, training and welfare pro
Slide 8: BU Energy Stringing Division
BU ENERGY STRINGING DIVISION
Slide 9: Energy – Stringing: Solutions
ENERGY – STRINGING: Solutions Digital & Green Solutions: new methodologies for construction and maintenance of energy transport and distribution infrastructures TECHNOLOGY FOR EFFICIENT STRINGING OPERATIONS A new concept of integrated systems 4.0 for energy transport and distribution: Simple, Safe a
Slide 10: Energy – Stringing: Fields of application
ENERGY – STRINGING: Fields of application • SOLUTIONS FOR CONSTRUCTION AND MAINTENANCE OF ELECTRICAL NETWORKS • ADVANCED METHODOLOGIES FOR AUTOMATED CONSTRUCTION SITES • ZERO EMISSION MACHINES 10
Slide 11: Energy – Stringing: Teo Tesmec Evolution Onwards
ENERGY – STRINGING: Teo TESMEC EVOLUTION ONWARDS Tesmec digital eco-system + Connected jobsite. A break through in the after sales Teo is in countinous Multiple applications, the A COMPLETE offer that speeds up the remote support and improvement: many other super powers of the AFTER-SALES offers a f
Slide 12: Energy – Stringing: Main worldwide experiences
ENERGY – STRINGING: Main worldwide experiences Reconductoring Underground Cable Laying Stringing Machines 4.0 Fjord crossing USA UK BELGIUM NORWAY Continuous Linear Puller Romford 4.0 Machines Special machines for fjord Type of line: transmission, 138kv 3 x 33 kV cable pulling ACPR Lo-Sag Nexans con
Slide 13: Reconductoring, Digital Stringing Machine, Helicopter Stringing
RECONDUCTORING OPERATIONS Digital Stringing Machine HELICOPTER STRINGING CHINA Extreme project in Zhejiang Province Tower height: 380 m 13 Four bundled conductors 500 kV
Slide 14: BU Energy Automation Division
BU ENERGY AUTOMATION DIVISION
Slide 15: Energy – Automation: Solutions
ENERGY – AUTOMATION: Solutions Grid Reliability, Efficiency and Security: a full portfolio of power grid technologies, tailored and integrated solutions to face fast-changing grid challenges PROTECTION & METERING SOLUTIONS FOR SMART GRID From selectivity to reliability, ensuring continuous operation
Slide 16: Energy – Automation: Fields of application
ENERGY – AUTOMATION : Fields of application • PROTECTION & MONITORING SOLUTIONS • REMOTE CONTROL SOLUTIONS • SERVICE TELECOMMUNICATIONS SOLUTIONS FOR HV GRIDS • SMART METERING SOLUTIONS 16
Slide 17: Energy – Automation: Tech hub
ENERGY – AUTOMATION: Tech hub EMBEDDED SOLUTIONS FOR PRIMARY AND SECONDARY SUBSTATIONS • Protection • Monitoring • Remote control INTEGRATED SOLUTIONS FOR ENERGY MONITORING • Overhead lines • MV switchgears TELECOMMUNICATION SERVICES • Power-line carriers • Line traps • Teleprotection SUBSTATION AUT
Slide 18: Energy – Automation: Substation Automation System (SAS)
ENERGY – AUTOMATION : Substation Automation System (SAS) Protection, monitoring and control, for the management and safety of electrical infrastructures Bay Control Unit (BCU) It represents the heart of the SAS. It allows to control all the organs relating to theparticular UF. Station Computer (SCAD
Slide 19: Energy – Automation: Main worldwide references
ENERGY – AUTOMATION: Main worldwide references Telecommunication Substation Automation solution System ALGERIA ITALY Remote management of HV Protection and control systems for HV substations and protection substations (SAS) based on IEC systems against unexpected grid 61850 faults Fault Passage Indi
Slide 20: Protection and Monitoring Solutions
PROTECTION AND MONITORING SOLUTIONS for primary and secondary substations Telecommunication solution 20
Slide 21: BU Trenchers & Surface Miners
BU TRENCHERS & SURFACE MINERS 21
Slide 22: Trenchers and Surface Miners: Solutions
TRENCHERS AND SURFACE MINERS : Solutions Advanced working methodology: integrated systems & technological solutions for a complete jobsite management VALUE CHAIN Complete offer combining internal and partner’s solutions DIGITALIZATION Wide range of machines equipped with the latest digital technolog
Slide 23: Trenchers and Surface Miners: Fields of application
TRENCHERS AND SURFACE MINERS: Fields of application • TELECOM NETWORKS, FTTH & LONG DISTANCE, POWER CABLE INSTALLATION • OIL & GAS, WATER PIPELINES, RENEWABLES • BULK EXCAVATION, QUARRIES & SURFACES MINING 23
Slide 24: Trenchers and Surface Miners - Main worldwide experience
Trenchers and Surface Miners - Main worldwide experience Fiber Optics Laying Gas Pipeline UK USA Georadar Explorer 2.0 & Sidecut 1150XHD Chainsaw Surface mining Gold Water Pipeline RUSSIA CHILE 1475 Rock Hawg 1675 Chainsaw Bauxite Mining Limestone quarry UZBEKISTAN WEST AFRICA (GUINEA, IVORY COAST)
Slide 25: Fiber Optics Laying
Fiber Optics Laying UK Georadar Explorer 2.0 & Sidecut TUNNELING PROJECT AUSTRALIA 25 1475 Rock Hawg EVO
Slide 26: Wind Farms Project Australia
WIND FARMS PROJECT AUSTRALIA Automatic cable laying system 26
Slide 27: Surface Mining Gold
BAUXITE MINING WEST AFRICA (GUINEA, IVORY COAST) 1150 & 1475 Rock Hawg Surface mining Gold RUSSIA 1475 Rock Hawg 27
Slide 28: Advanced set of tools, technologies and assets
NEW TECHNOLOGIES FOR DETECTION & MAPPING GEORADAR GEODRONE PRIMIS LIVE MOBILE LAB Advanced set of tools, technologies and assets to provide the most outstanding output DIGITALIZATION OF EXISTING INFRASTRUCTURES LIVE AND SYNCHRONIZED WORKING ENVIRONMENT VIRTUAL RECONSTRUCTION OF UNDER AND ABOVE TOWAR
Slide 29: BU Railway
BU RAILWAY 29
Slide 30: Railway: Solutions
RAILWAY: Solutions Global catenary specialist for the installation and maintenance of railway lines: solutions with integrated systems and rail vehicles for a safe, efficient and sustainable railway infrastructure. RELIABILITY Certified, automated and cloud connected vehicles DIGITALIZATION Centrali
Slide 31: Railway: Fields of application
RAILWAY: Fields of application • CATENARY INSTALLATION & MAINTENANCE • DIAGNOSTIC VEHICLES AND SYSTEMS • INTEGRATED PLATFORM FOR SAFE INFRASTRUCTURE 31
Slide 32: Railway: Main worldwide experience
RAILWAY: Main worldwide experience Stringing & recovering RER Catenary renewal Safety of Railway Catenary maintenance wires FRANCE ITALY 9 vehicles (6 different models) Infrastructure 88 Multipurpose railway vehicles USA Engineered to allow a correct execution of the ITALY 16 Revamping maintenance u
Slide 33: Safety of Railway Infrastructure Italy
SAFETY OF RAILWAY INFRASTRUCTURE ITALY 33 2 Diagnostic Vehicles
Slide 34: Installation of the Contact Line & Catenary Maintenance
INSTALLATION OF THE CONTACT LINE & CATENARY MAINTENANCE “EAGLE P3 PROJECT” USA 1 Stringing unit & 1 Catenary maintenance vehicle A very fast rail wire installation 34
Slide 35: Railway: Main worldwide experience
ELECTRIFICATION OF NEW LINES HIGH SPEED CHINA RAILWAY: Main worldwide experience > 30 stringing units 1,318 km BEIJING-SHANGHAI CUSTOMIZED SOLUTIONS POLAND 4 Stringing units Tensioning system for railway wiring operations composed by working units mounted on ISO 20 size flat modules
Slide 36: 2024 Results
TESMEC TECHNOLOGIES for ENERGY management 2024 RESULTS
Slide 37: Tesmec: Transform to Grow
TESMEC: TRANSFORM TO GROW FROM A POSITIVE DISRUPTIVE 2024 TO EMBRACING A LEANER FUTURE Continuing the transformation Prioritization of profitability Initiatives to strengthen the started in 2024 and cash generation industrial base and improve over volume capital efficiency/financial structure March
Slide 38: Transform to Grow: Key Pillars
TESMEC: TRANSFORM TO GROW FROM A POSITIVE DISRUPTIVE 2024 TO EMBRACING A LEANER FUTURE Key Pillars Growing long-term trends Focused and coherent Leverage in cross-cutting Selective approach portfolio, value-driven flexible on key growth sectors business models (including development drivers: industr
Slide 39: Business Progress: 2024 Highlights
2024* HIGHLIGHTS Positive discontinuity compared to Strategic initiative in France to Net result impacted by loss of 2023, thanks to focus on higher strengthen the Group's competitive discontinuing operations of Groupe value-added activities, management position and synergies between Marais efficien
Slide 40: 2024 Highlights
2024 HIGHLIGHTS Recognition for Tesmec Tesmec 1875 XL in PE1151 in Nettverksuken, Enlit 2024, Milano Successful test of the 1st bimodal sustainable development Middle East Norway, with EB Elektro diagnostic vehicle "Type 4" with RFI Saudi Tesmec enters the Groupe Marais Joint Demo in Tesmec USA Inno
Slide 41: 2024 Same Perimeter Profit & Loss Statement
2024* SAME PERIMETER PROFIT&LOSS STATEMENT “2024 same perimeter” includes Groupe Marais discontinuing operations results → “before” JV operation in France Profit & Loss 2023 2024 2024 Δ (€ Mln) ACTUAL SAME PERIMETER ACTUAL 2024 ACTUAL VS. 2023 ACTUAL REVENUES 251,9 252,8 239,5 (12,4) EBITDA 34,0 41,
Slide 42: 2024 Actual Profit & Loss Statement
2024* ACTUAL PROFIT&LOSS STATEMENT “2023 pro-forma” excludes Groupe Marais discontinuing operations results → “after” JV operation in France 2024 2023 Δ Profit & Loss (€ Mln) ACTUAL PRO-FORMA vs. 2023 (1) Revenues: slight improvement compared to pro- REVENUES (1) 239,5 236,0 1,5% forma 2023, with po
Slide 43: 2024 Statement of Financial Position
2024* STATEMENT OF FINANCIAL POSITION Dec. 31, Dec. 31, 2024 2023 Net Working Capital 99,8 86,8 • Increase in net working capital due to higher receivables. Reduction of inventories still not Fixed Assets 106,9 119,6 reflecting full reduction potential Other Long Term assets/liabilities 21,9 25,3 •
Slide 44: Trenchers: 2024 Facts & Figures
TRENCHERS: 2024* FACTS & FIGURES (€ mln) 140 121,4 KEY FACTS 111,9 120 100 -8% Strategic & Operational moves: • JV for Groupe Marais rental business and strategic 80 reorganziation in France 60 • USA integration plan to enhance business and organization 20,2 • Strengthening local structures in Middl
Slide 45: Rail: 2024 Facts & Figures
RAIL: 2024 FACTS & FIGURES (€ mln) 60 KEY FACTS 50,4 46,9 +7% • Switzerland: 1st milestone for a medium-long term presence in 40 the Swiss rail market: Swiss Federal Railways tender award for the delivery, installation and commissioning of a peripheral system for a towed diagnostic vehicle of SBB to
Slide 46: Energy: 2024 Facts & Figures
ENERGY: 2024 FACTS & FIGURES (€ mln) KEY FACTS 100 Stringing 77,3 80 67,7 +14% • Results significantly exceeded expectations, indicating a 60 highly successful process despite the operational challenges throughout the year 40 +30% 11,3 • Significant orders received, creating a robust backlog for 10,
Slide 47: 2024 Backlog
2024*BACKLOG (€ mln) Pro-forma 31/12/2023: 382,5 Actual 30/09/2024: 363,2 Same perimeter 30/09/2024: 345,0 Actual 31/12/2024: 250,0 350,7 Rail 121,9 Energy 200,0 162,6 TOTAL 350,7 €M 150,0 100,0 Trencher 66,2 50,0 • Energy backlog: Automation (136,6€M) and Stringing (26,0€M) 0,0 Energy Trencher Rail
Slide 48: 2024 Revenues KPI
2024* REVENUES KPI Africa; 11% Europe; 23% Middle East; 16% 2024: Non recurring 2024: Recurring 49,2% 50,8% 239,5 €M 239,5 €M Italy; 23% BRIC & Others; 15% North & Central America; 12% Recurring: Rental, Projects, Spare Parts, Services (maintenance, revamping & refurbishing, consulting & training),
Slide 49: 2024 EBITDA Evolution by BU
2024* EBITDA EVOLUTION BY BU (€ mln) 50 +1,4 +5,9 +0,9 40 Margin Volume growth 41,1 improvement driven by Stringing towards a higher demand + Energy- 30 32,8 Improved margins, value-added Automation higher despite lower business model value-added volumes, thanks to contribution a better sales miX, 2
Slide 50: 2024 Net Financial Position Evolution
2024* NET FINANCIAL POSITION EVOLUTION (€ mln) 180 160 (9,5) 3,0 140 153,5 Increased JV Groupe 147,0 120 153,5 NWC Marais: 100 discontinuing operations 80 60 40 20 0 31/12/2023 France effect NWC effect 31/12/2024 Dec. 31, 2024 Dec. 31, 2023 Inventories 96,1 110,6 Work in progress contracts 36,7 29,2
Slide 51: 2020-2024 Equity Story and 2025 Outlook
2020-2024* EQUITY STORY and 2025 OUTLOOK (€ mln) 2025 17,2% 41,1 153,5 245,2 14,5% 147 Leveraging strong capabilities in the face of current 239,5 236 35,2 13,9% macroeconomic challenges: 32,8 128,4 14,5% 121,0 194,3 28,1 • Growing reference markets driven by energy transition 104,4 172,8 13,3% • So
Slide 52: Business Guidelines - Trenchers
BUSINESS GUIDELINES - TRENCHERS Strengthening of the Australian, US and French markets, supported by Strengthening favourable conditions, Australia, USA resumption of key projects and France and consolidation of local structures Structuring business development Tesmec invests in the and marketing ac
Slide 53: Business Guidelines - Railway
BUSINESS GUIDELINES - RAILWAY TESMEC FRANCE: Strategic platform for the growth of French Growth of French activities in the railway sector: development of activities a specialized center to support the Railway business, aimed at meeting local needs for railway infrastructure maintenance solutions. S
Slide 54: Business Guidelines - Energy
BUSINESS GUIDELINES - ENERGY STRINGING Continue leading the growth and extend the market share, we will implement strategic initiatives and innovative Profitability Digitalization AUTOMATION solutions. We are committed to leading the future through three fundamental pillars: Growth at a fast pace wh
Slide 55: Annex A) 2024 Summary Profit & Loss Statement
ANNEX A) 2024* SUMMARY PROFIT & LOSS STATEMENT PROFIT & LOSS 2024 ACTUAL 2023 PRO-FORMA 2023 ACTUAL (€ Mln) NET REVENUES 239,5 236,0 251,9 Raw materials costs (-) (109,0) (106,3) (108,8) Cost for services (-) (42,7) (47,9) (52,2) Personnel Costs (-) (53,0) (56,6) (63,3) Other operating revenues/cost
Slide 56: Annex B) Summary 2024 Balance Sheet
ANNEX B) SUMMARY 2024* BALANCE SHEET BALANCE SHEET Dec.31, 2024 Dec. 31, 2023 (€ Mln) Inventory 96,1 110,6 Work in progress contracts 36,7 29,2 Accounts receivable 55,4 45,6 Accounts payable (-) (79,9) (82,8) Op. working capital 108,4 102,7 Other current assets (liabilities) (8,6) (15,8) Net working
Slide 57: Disclaimer
DISCLAIMER This presentation has been prepared by Tesmec S.p.A. (“Tesmec”, the “Company” or the “Group”). As used herein, “Presentation” means this document, any oral presentation, the question and answer session and any written or oral material discussed or distributed during the presentation. The