Tesmec S.p.a. · MIL:TES
Tesmec — Le Eccellenze del Made in Italy Conference 2024
59 slides from Tesmec's conference presentation, Sep 24, 2024
Slide 1: Le Eccellenze del Made In Italy Conference
Le Eccellenze del Made In Italy Conference September 24-25th, 2024 1
Slide 2: Tesmec Group
EC TESM +GRO | TESMEC
Slide 3: 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 4: 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 MARAIS TESM
Slide 5: 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 6: 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 7: 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 8: Tesmec Sustainability Path
TESMEC SUSTAINABILITY PATH TESMEC economic activities are eligible R&D Focus on developing innovative technologies and products to increase according to ANNEX I – Climate change &INNOVATION mitigation «3.Manufacturing» green and digital revenues. 3.1 - Manufacture of renewable energy technologies 3.
Slide 9: BU Energy Stringing Division
BU ENERGY STRINGING DIVISION
Slide 10: 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 11: 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 11
Slide 12: 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 13: 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 14: Reconductoring Operations, Digital Stringing Machine, Helicopter Stringing
RECONDUCTORING OPERATIONS Digital Stringing Machine HELICOPTER STRINGING CHINA Extreme project in Zhejiang Province Tower height: 380 m 14 Four bundled conductors 500 kV
Slide 15: BU Energy Automation Division
BU ENERGY AUTOMATION DIVISION
Slide 16: 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 operatio
Slide 17: 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 17
Slide 18: 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 19: 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 20: 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 21: Protection and Monitoring Solutions for Substations
PROTECTION AND MONITORING SOLUTIONS for primary and secondary substations Telecommunication solution 21
Slide 22: BU Trenchers & Surface Miners
BU TRENCHERS & SURFACE MINERS 22
Slide 23: 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 24: 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 24
Slide 25: 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 26: Wind Farms Projects Australia
WIND FARMS PROJECTS AUSTRALIA Automatic cable laying system 26
Slide 27: Surface Mining Gold and Bauxite
BAUXITE MINING WEST AFRICA (GUINEA, IVORY COAST) 1150 & 1475 Rock Hawg Surface mining Gold RUSSIA 1475 Rock Hawg 27
Slide 28: Fiber Optics Laying
Fiber Optics Laying UK Georadar Explorer 2.0 & Sidecut TUNNELING PROJECT AUSTRALIA 28 1475 Rock Hawg EVO
Slide 29: New Technologies for Detection & Mapping
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 30: BU Railway
BU RAILWAY
Slide 31: 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 32: Railway: Fields of application
RAILWAY: Fields of application • CATENARY INSTALLATION & MAINTENANCE • DIAGNOSTIC VEHICLES AND SYSTEMS • INTEGRATED PLATFORM FOR SAFE INFRASTRUCTURE 32
Slide 33: 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 34: Safety of Railway Infrastructure
SAFETY OF RAILWAY INFRASTRUCTURE ITALY 34 2 Diagnostic Vehicles
Slide 35: 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 35
Slide 36: 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 37: Tesmec Group 2024.H1 Results
TESMEC GROUP 2024.H1 RESULTS 37
Slide 38: 2024.H1 Tesmec Group at a Glance
2024.H1 TESMEC GROUP AT A GLANCE SALES BREAKDOWN BY BUSINESS SALES €M 124,2 (H1’23 €M 125,3) Energy €M 38,6 EBITDA Trencher €M 19,0; 15,3% (H1’23 €M 15,9; 12,7%) €M 66,0 124,2 €M Rail EBIT €M 7,1 €M 19,6 (H1’23 €M 4,5) NET RESULT €M (2,2) SALES BREAKDOWN BY REGION (H1’23 €M (2,6)) Europe North& Cent
Slide 39: 2024.H1 Highlights
2024.H1 HIGHLIGHTS First-half results in line with the Redesign of the industrial Net result impacted by higher “value before volume” strategy, footprint, with the concentration interest expenses due to with sales substantially stable of Stringing manufacturing at the increased rates and peak in deb
Slide 40: 2024.H1 Highlights
2024.H1 HIGHLIGHTS Array rollers tailored Grassobbio site revamping and KAFD project – Saudi ASAT system installation designed to support Catenary lines installation & extended photovoltaic plant Arabia customer’s projects maintenance Trencher 1875EVO - Automation Fidenza plant Catenary lines instal
Slide 41: 2024.H1 Profit & Loss Statement
2024.H1 PROFIT&LOSS STATEMENT (€ mln) Profit & Loss 2024.H1 2023.H1 Δ vs.2023 RESULTS’ COMMENTARY REVENUES (1) 124,2 125,3 (0,85)% (1) Revenues: substantially in line with 2023.H1, with positive contribution from Energy volumes, both Automation EBITDA (2) 19,0 15,9 +19,0% and Stringing segments % on
Slide 42: 2024.H1 Statement of Financial Position
2024.H1 STATEMENT OF FINANCIAL POSITION (€ mln) RESULTS’ COMMENTARY Jun. 30, 2024 Dec. 31, 2023 • Net Working Capital increase, due to higher trade receivables Net Working Capital 112,5 86,8 following quarter-end sales, with still high levels of inventory of which: inventory 113,6 110,6 and WIP (to
Slide 43: Trenchers: 2024.H1 Facts & Figures
TRENCHERS: 2024.H1 FACTS & FIGURES (€ mln) 80 KEY FACTS 68,9 66,0 70 60 -4% • Delays in US and slowdown in France energy and fiber optic 50 markets, and implementation of plans for corporate 40 reorganization, business development, and governance 30 +7,2% 10,2 • Positive business performance in the
Slide 44: Rail: 2024.H1 Facts & Figures
RAIL: 2024.H1 FACTS & FIGURES (€ mln) 30 KEY FACTS 25,5 19,6 20 • Business Internationalization: promotion and discussions with -23% main European Railway Authorities, who have significant plans to renew their working vehicles fleet for 10 +7,2% 4,1 2,3 a safer railway infrastructure, targeting job
Slide 45: Energy: 2024.H1 Facts & Figures
ENERGY: 2024.H1 FACTS & FIGURES (€ mln) KEY FACTS 50 Stringing 38,6 40 30,9 +25% • The new strategy for the Far East market, after few years of 30 stand-by, is now gaining momentum 20 • Strengthening presence in the Australian market by organizing +30% 6,5 training sessions for end users in collabor
Slide 46: 2024.H1 Backlog
2024.H1 BACKLOG (€ mln) 31/12/2022: 406,2 Backlog 31/12/2023: 402,2 evolution 30/06/2024: 370,3 Energy 104,3 250,0 200,0 Rail TOTAL 193,6 370€M 150,0 100,0 Trencher 72,4 50,0 • Long- term backlog in Automation and Rail 0,0 Energy Trencher Railway • Energy backlog including Automation’s (88€M) and 31
Slide 47: 2024.H1 Revenues by Geography
2024.H1 REVENUES BY GEOGRAPHY Africa; 10,2% Africa; 2,7% Middle East; Europe; 23,1% Europe; 27,7% 16,6% Middle East; 16,9% 2024.H1: BRIC & Others; 2023.H1: 124,2 €M 16,4% BRIC & Others; 125,3 €M 15,6% Italy; 16,9% North & Central Italy; 21,6% North & Central America; 19,6% America; 12,6% 2023.H1 202
Slide 48: 2024.H1 Recurring vs Non-Recurring Revenues
2024.H1 “RECURRING” VS “NON-RECURRING” REVENUES Recurring Non recurring Recurring Non recurring 53,2% 49,0% 46,8% 51,0% 2024.H1: 77 €M 2023.H1: 66,6 €M 58,7€M 63,3 €M 125,5 124,2 €M 126,4 60,9 €M 11,3 M€ 125,3 96,5€M 20,5€M €M €M M€ • Recurring: Rental, Projects, Spare Parts, Services (maintenance,
Slide 49: 2024.H1 EBITDA Evolution by BU
2024.H1 EBITDA EVOLUTION BY BU (€ mln) 25 +1,4 20 +3,4 (1,7) 15,3% 12,7% Volumes growth 19,0 Lower volumes, and operating 15 Improved sales partially mitigated by leverage 15,9 OPEX containment mix and reduced OPEX 10 5 0 2023.H1 Trencher Railway Energy 2024.H1 2023.H1: Positive contribution from Tr
Slide 50: 2024.H1 Net Financial Position Evolution and Free Cash Flow
2024.H1 NET FINANCIAL POSITION EVOLUTION AND FREE CASH FLOW (€ mln) 200 183,6 51,0 183,6 150 153,5 25,6 (11,2) 153,5 39,2 3,9 132,6 100 114,3 A/R increase linked to end- 7,3€M net FCF quarter sales excl. ΔNWC and IFRS16 50 0 31/12/2023 IFRS 16 Net debt NWC OFCF CAPEX Net debt IFRS 16 30/06/2024 31/1
Slide 51: 2024.H1 Net Working Capital Evolution
2024.H1 NET WORKING CAPITAL EVOLUTION (€ mln) 140 24,8 (7,1) 120 1,9 100 3,0 In coeherence with Taxes and 112,5 3,0 higher inventory others Increased A/R and A/R 80 linked to quarter- 86,8 end sales 60 Increase to support expected short-term volumes’ increase 40 20 0 31/12/2023 Inventories WIP Trade
Slide 52: 2020-2023 Equity Story and 2024 Outlook
2020-2023 EQUITY STORY and 2024 OUTLOOK (€ mln) 2024 OUTLOOK «VALUE OVER VOLUMES» REVENUE 35,2 251,9 34,0 153,5 • Strategic continuity and selective 245,2 approach • Intensive go-to-market to support fully ~270 Mln€ 28,1 128,4 integrated digitalized sustainable 121,0 194,3 business models 172,8 22,9
Slide 53: Trencher: 2024 Business Guidelines
TRENCHER: 2024 BUSINESS GUIDELINES Tesmec is reviewing and adjusting the plan to relaunch business activities in France to enhance profitability and Relaunching financial stability. The company must business leverage its reputation and technology activities in to develop new markets and new France p
Slide 54: Rail: 2024 Business Guidelines
TRENCHER: 2024 BUSINESS GUIDELINES Exhibitor at InnoTrans the must-attend event in the rail industry (Berlin, 24-27/09). Our offer for the rail infrastructure market matches perfectly the focus of Growing Internationalization the leading international trade fair for transport technology: how electri
Slide 55: Energy: 2024 Business Guidelines
ENERGY: 2024 BUSINESS GUIDELINES STRINGING AUTOMATION Implementing a new sales strategy, Integrated market approach targeting premium countries, while combining preservation of leveraging strong relationships with New sales Business consolidated channels with utilities to enhance market position. st
Slide 56: Appendix A: 2024.H1 Summary Profit & Loss Statement
APPENDIX A: 2024.H1 SUMMARY PROFIT & LOSS STATEMENT PROFIT & LOSS (€ Mln) 2024.H1 2023.H1 Delta vs 2023 Delta % NET REVENUES 124,2 125,3 (1,1) -0,8% Raw materials costs (-) (55,3) (52,1) (3,2) 6,0% Cost for services (-) (22,3) (27,6) 5,3 -19,2% Personnel Costs (-) (29,8) (32,2) 2,4 -7,5% Other opera
Slide 57: Appendix B: Summary 2024.H1 Balance Sheet
APPENDIX B: SUMMARY 2024.H1 BALANCE SHEET BALANCE SHEET (€ Mln) Jun. 30, 2024 Dec. 31, 2023 Inventory 113,6 110,6 Work in progress contracts 32,3 29,2 Accounts receivable 70,4 45,6 Accounts payable (-) (89,9) (82,8) Op. working capital 126,4 102,7 Other current assets (liabilities) (13,9) (15,8) Net
Slide 58: ir@tesmec.com www.tesmec.com
ir@tesmec.com www.tesmec.com 58
Slide 59: 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
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