Edil San Felice S.p.a. · MIL:ESF
Edil San Felice — Investor Presentation (November 2023)
26 slides from Edil San Felice's investor presentation, November 2023
Slide 1: Investor Presentation November 2023
INVESTOR PRESENTATION November 2023 1
Slide 2: Edil San Felice – People Speaking Today
EDIL SAN FELICE – PEOPLE SPEAKING TODAY LORENZO DI PALMA Danilo Cagnazzi VINCENZO Roberto DI PIETRO Bettelli MARIKA SGRITTO CEO CFO IRM Background Background Background Graduate in Business Economics +20 years of experience +25 years of experience in + at Edil San Felice accounting finance and contr
Slide 3: After IPO Overview: Key Facts and Operations
AFTER IPO OVERVIEW KEY FACTS AND OPERATIONS 1. VERY POSITIVE HALF-YEAR FINANCIAL RESULTS 1H23 EBITDA has more than doubled to 5.4 million euros compared with 2.6 million euros 1H23 REVENUES increasing by 37.5 percent from 15.6 million as of June 30, 2022, carried forward to June 30, 2022, benefitted
Slide 4: Resilient growth play to bet on infrastructure maintenance
RESILIENT GROWTH PLAY TO BET ON INFRASTRUCTURE MAINTENANCE EDIL SAN FELICE IS A PLAYER SPECIALIZED IN HIGHWAYS SAFETY WITH > 40Y OF HISTORY VIADUCTS AND OTHER WORK-OF-ART MAINTENANCE ROAD SAFETY SERVICES 7,6 % Other services(1) SAFETY BARRIERS JOINTS SUBSTITUTION SUBSTITUTION 1H23 M REVENUES 70,6 %
Slide 5: Active on both ordinary and extraordinary maintenance services
RESILIENT GROWTH PLAY TO BET ON INFRASTRUCTURE MAINTENANCE EDIL SAN FELICE IS ACTIVE BOTH ON ORDINARY AND EXTRAORDINARY MAINTENANCE SERVICES 48% ORDINARY MAINTENANCE Main Clients EXTRAORDINARY MAINTENANCE 52% Activities made to preserve and keep the serviceable Intervention of repairing, replacing o
Slide 6: Full control over the awarding and execution process
FULL CONTROL OVER THE AWARDING AND EXECUTION PROCESS PARTICIPATION In 2022 ESF has taken part to 39 tenders, AWARDING for a total value of Eu71mn ESF has been awarded with 9 tenders for a total value of Eu41mn (1) 57% success rate Average of 2 months between With the new Codice degli Appalti tender
Slide 7: A 40+ history of growth and diversification
A 40+ HISTORY OF GROWTH AND DIVERSIFICATION ESF HAS GAINED A UNIQUE POSITIONING IN THE HIGHWAYS MAINTENANCE FIELD THANKS TO A STRONG LEVEL OF DIVERSIFICATION, BOTH BY GEOGRAPHY (12 REGIONS REACHED) AND BY SERVICE PROVIDED (BOTH ORDINARY AND EXTRAORDINARY) 1°CONTRACT WITH ASPI Edil San Felice VoP (Eu
Slide 8: ESF could consolidate its leading positioning in a fragmented market
ESF COULD CONSOLIDATE ITS LEADING POSITIONING IN A FRAGMENTED MARKET GEOGRAPHICAL DIVERSIFICATION, PRESENCE ON BOTH ORDINARY AND EXTRAORDINAY MAINTEINANCE, A NUMBER OF CERTIFICATION ALLOW ESF TO STAND OUT FROM SMALLER COMPETITIOR ACTIVE ON ORDINARY MAINTAINANCE MAIN CERTIFICATIONS Competitive landsc
Slide 9: Ordinary maintenance is #1 priority in highways clients agenda
ORDINARY MAINTENANCE IS #1 PRIORITY IN HIGHWAYS CLIENTS AGENDA KEY ACTIONS FROM POLICYMAKERS Eu 7 bn ITALY - NATIONAL PLAN FOR ROAD 384 SAFETY 2030 301 Maintenance in 2020-2038 AVERAGE YEARLY INVESTMENTS AVERAGE YEARLY INVESTMENTS BENEFITTING ALSO FROM IN ORDINARY MANITENANCE IN ORDINARY MAINTENANCE
Slide 10: Half-Year Overview
HALF-YEAR OVERVIEW KEY MESSAGES BACKLOG AT Eu83.6mn FURTHER GROWING THANKS TO NEW AWARDINGS 1H23 HIGHLIGHTED STRONG VoP THANKS TO AN ACCELERATION IN EXTRAORDINARY BUSINESS OUTSIDE CAMPANIA (49% on net revenues) HEALTHY EBITDA AT Eu5.4mn CONFIRMING PROFITABILITY AT ABOVE 25% SOLID CASH POSITION (Eu3.
Slide 11: A visible backlog for a service-like business
A «VISIBLE» BACKLOG FOR A SERVICE-LIKE BUSINESS AS ESF MAINTENANCE SERVICES ARE DELIVERED IN A SHORT PERIOD (SERVICE-LIKE), MOST OF THE BACKLOG TURNS INTO REVENUES IN THE FOLLOWING 12 MONTHS, GIVING STRONG TOP LINE VISIBILITY ON CURRENT ACCOUNTING PERIOD BACKLOG VALUE (Eu mn) Backlog Ordinary mainte
Slide 12: Key Financials – Resilient Growth
KEY FINANCIALS – RESILIENT GROWTH Value of Production evolution (Eu mn) EBITDA and EBITDA margin (Eu mn) 37,5% 1H23 revenues growth 1H23 EBITDA benefitted benefitted from: 25,2% from: 16,5% - Acceleration of - Normalization of the extraordinary projects incidence of raw outside Campania material cos
Slide 13: Key Financial – Healthy Balance Sheet
KEY FINANCIAL – HEALTHY BALANCE SHEET Net debt / (net cash) (Eu mn) Net working capital (Eu mn) Receivables 6.2 (28.7% of VoP) Inventory 4.6 (13.3% of VoP) Positive net cash Payables 12,4 Working capital position thanks to a Other 14,0 well under strong Operating free control despite Eu mn cash flow
Slide 14: M&A to speed-up growth in adjacent attractive markets
M&A TO SPEED-UP GROWTH IN ADJACENT ATTRACTIVE MARKETS RESTORATION OF CULTURAL RAILWAYS HERITAGE SITES In October 2023, ESF has completed SOA Looking for a company active in Description the acquisition of the entire (100%) OG2 railways maintenance services to shareholding of Sogem S.r.l., a growth in
Slide 15: Sustainability – SDG Mapping
SUSTAINABILITY – SDG MAPPING ESF IS COMMITTED TO OPERATING RESPONSIBLY, INTEGRATING SUSTAINABILITY INTO ITS BUSINESS MODEL Integration of the ESG Company goals Covered SDGs SDGs Health and safety in the workplace in the business model ------------------- Welfare and well-being of employees 12 of the
Slide 16: Sustainability – Human Capital
SUSTAINABILITY – HUMAN CAPITAL EDIL SAN FELICE RECOGNISES THE IMPORTANCE AND CENTRALITY OF ITS HUMAN CAPITAL, CONSIDERING IT A STRATEGIC ASSET FOR ITS OWN SUCCESS. THE COMPANY RECOGNISES THE IMPORTANCE OF THE SKILLS OF INDIVIDUALS AND THEIR DEGREE OF INVOLVEMENT, WHICH CONSTITUTE A GREAT COMPETITIVE
Slide 17: Sustainable Supply Chain Management
SUSTAINABLE SUPPLY CHAIN MANAGEMENT EDIL SAN FELICE IS INVOLVED IN SOME PROJECTS TO ENSURE CIRCULAR MANAGEMENT OF MATERIALS AND SUSTAINABLE PROCUREMENT Description Description Return of used batteries with the aim Using Mapei's sustainable mortars in of regenerating them building work Results Result
Slide 18: Key Takeaways
KEY TAKEAWAYS 40+ YEARS OF EXPERIENCE AND A BALANCED REVENUES MIX MAKE ESF A RESILIENT GROWTH PLAY TO BET ON INFRASTRUCTURE SAFETY SERVICES HIGHWAYS MAINTENANCE IS TOP PRIORITY AND ESF IS PERFECTLY PLACED TO ACT AS MARKET SHARES CONSOLIDATOR GROWING AND PROFITABLE BUSINESS COUPLED WITH A STRONG CASH
Slide 19: Appendix
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Slide 20: Governance and Shareholdings Structure
GOVERNANCE AND SHAREHOLDINGS STRUCTURE BoD Post-IPO Shareholding Structure IPO Perimeter Carmelo Intrisano, Chairman Colonna1 Market Lorenzo Di Palma, Nicola Rossi, 11% CEO Independent director Indépendance Benefit AM Corporation Edil San Felice SpA (Italy) Invitalia S.p.A. 7% 100% Carlo Di Palma, F
Slide 21: Financials – IS, BS, Cash Flow
FINANCIALS – IS, BS, CASH FLOW INCOME Var (%) BALANCE CASH FLOW 1H2022 FY2022 1H2023 1H2023 FY2022 1H2022 FY2022 1H2023 STATEMENT 1H22/1H23 SHEET STATEMENT Intangible assets 7 7 Net Profit 1.896 4.755 4.172 Revenues on Sales 13.970 30.736 18.353 31,40% Tangible assets 7.173 6.438 Interests 27 126 91
Slide 22: Organizational Structure
ORGANIZATIONAL STRUCTURE BoD ODV Statutory Board Lorenzo Di Palma Vincenzo Di Pietro CEO CFO Massimo Gentile Marika Sgritto Marketing Investor Relator Fabio Caruso Sofia Selcia 3 ICT Administration Chiara Gigante Giuseppe Marotta/ Antonio Melucci/ Gigliola Brogna HR Legal area Hanika Rossi Olimpia D
Slide 23: Main Clients
MAIN CLIENTS Top 5 clients on net revenue (FY22) 7,6% 2,7% 2,6% 3,3% 6,6% 100% 77,2% #1 #2 #3 #4 #5 Others Name Geography 23 Source: Edil San Felice
Slide 24: Main Suppliers
MAIN SUPPLIERS Top 5 suppliers on raw material costs (FY22) Top 5 suppliers weigh 48.9 % on total costs 51,1% Mainly Safety barriers 100% 5,2% 5,4% 5,6% 5,9% 26,8% #1 #2 #3 #4 #5 Others Geography 24 Source: Edil San Felice
Slide 25: Questions & Answers
QUESTIONS & ANSWERS CONTACTS Via On.le Davide Barba S.C. 80035 – Nola (NA) Tel: +39 081 213 86 95 E-mail: info@edilsanfelice.it Investor Relations: ir@edilsanfelice.it 25
Slide 26: Disclaimer
DISCLAIMER "Il presente documento (il “Documento”) è stato predisposto da Alantra Capital Markets SV S.A.U. (“Alantra”). Il Documento ha natura confidenziale ed è per uso interno del destinatario (di seguito il "Destinatario") che, ricevendolo, acconsente a non distribuire, rendere noto o citare il
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