Slide 1: 9 Months 2015 Financial Results & Strategy Evolution
9 Months 2015 Financial Results & Strategy Evolution Riyadh Underground, Line 3 – SAUDI ARABIA
Slide 2: Strategy Update – Acquisition
Strategy Update Acquisition I-85 over the Yadkin River - NORTH CAROLINA 9M 2015 Financial Results 2
Slide 3: Lane Acquisition Rationale
Lane Acquisition Rationale ■ Strategic Creation of a larger and stronger Group ( approx. €6 billion revenues expected in 2015) Growth profile acceleration in North American market Rebalance of Salini Impregilo’s portfolio of projects ■ Business Strengthening the group positioning in the US
Slide 4: The US Market Opportunity
The US Market Opportunity ■ Importance of US construction market US non-residential market: 3rd largest market at a global level, expected to achieve $600 billion by 2020 US transport infrastructure is a ~$130 billion market (2014), expected to grow at 4% CAGR over the next 5 years US Global Non
Slide 5: Lane Overview: Leading Civil Construction Company in the US
Lane Overview Leading Civil Construction Company in the US ■ Family owned business with >100 Years of History Main Ongoing Projects ■ Specialized in heavy civil construction and construction materials in the transportation, I-4 Ultimate Project, FL infrastructure and energy industries Contract Value
Slide 6: A New Powerful Commercial Platform
A New Powerful Commercial Platform Salini Impregilo and Lane Presence in the US Synergies Main Assumptions Geographic and business expertise complementarity — Lane has a consolidated presence and customer WA relationships in the east coast where Salini Impregilo ME has no or limited presence OR WI
Slide 7: Transaction Highlights & Timetable
Transaction Highlights & Timetable The value of the transaction is equal to ~$400m (before any closing adjustment) and takes into account the value of Price Lane stakes in projects JVs The total value represents a multiple of approx. 6.5x 2015E proportional EBITDA Salini Impregilo expects to f
Slide 8: The New Group
The New Group 2014 Revenues Breakdown by Geography Salini Impregilo Pro-forma Combined1 APAC 8% APAC 7% US 4% Italy 11% I taly 13% US 21% LatAm Europe Revenues 14% Europe 16% 20% LatAm 11% Middle East Africa Africa 33% Middle East 9% 26% 8% Salini Impregilo + Lane EBITDA + Income from Revenues (€
Slide 9: 9M15 Financial Results
9M15 Financial Results Ulu Jelai Hydroelectric Project – MALAYSIA 9M 2015 Financial Results 9
Slide 10: Backlog Evolution
Backlog Evolution 2015 Construction Orders target: in line with 2014 Total Backlog Increase (€/billion) Main new orders in 2015: Al Bayt stadium – Qatar 33.7 32.4 El Shamal projects – Qatar A1 Motorway – Poland 7,1 7,2 Nenskra HPP – Georgia 1.881 5.904 76% Approx. 76% of 2015 order 1.264 25,
Slide 11: BP Revenues Coverage Almost Completed
BP Revenues Coverage Almost Completed Business Plan Revenues Backlog Coverage 20 € billion 6% Actual Backlog covers more 15 than 94% of Business Plan revenues 10 New Order 94% 18% Backlog 2% 5 98% 82% 100% 0 A very high level of visibility 2015 2016 2017 15 - 17 for the future revenues Construction
Slide 12: Financial Highlights
Financial Highlights €/million 9M 2014* 9M 2015 Change Revenues 3,106.6 3,367.5 8.4% 9M 2015 Revenues by Geography Revenues growth: +20.5% 3Q15 vs. 3Q14 EBITDA 306.3 340.4 11.1% +8.4% 9M15 vs. 9M14 Ebitda margin 9.9% 10.1% Italy 13% Africa EBIT 180.5 185.2 2.6% 26% Ebit margin 5.8% 5.5% Americas EBI
Slide 13: P&L Bridge
P&L Bridge 340 (155) EBITDA margin 10.1% EBIT margin 5.5% 185 (60) Both in line with FY 2015 targets (38) (8) (11) 69 Both margins include €6 million of non-recurring costs to realize future synergies EBITDA D&A EBIT Net Financing Income tax Profit from Minorities Net Income costs and net expense di
Slide 14: Net Financial Position
Net Financial Position September December € million 2015 2014 Cash & Cash Equivalents 995 1,031 Other Financial Assets 320 246 Standard & Poor’s upgraded Total Cash & Other Financial Assets 1,316 1,277 SAL rating to BB+ Gross Debt Bank Loan (1,000) (704) Bond (560) (561) Leasing (144) (163) M/L Bank
Slide 15: Cash-flow 9M 2015
Cash-flow 9M 2015 (€/ million) Operating cash flow:163 340 (177) (124) (179) (357) (43) (38) (48) (25) (20) (43) NFP EBITDA WC variations CAPEX (*) Share taxation financial assests held dividends Other (*) NFP 2014 acquisition expenses for sale 9M2015 restated effects on intangible assets EBITDA 340
Slide 16: Closing Remarks
Closing Remarks New Gerald Desmond Bridge - CALIFORNIA 9M 2015 Financial Results 16
Slide 17: Putting Today's Announcement into Context
Putting Today’s Announcement into Context SALINI IMPREGILO TODAY SALINI IMPREGILO STRATEGIC DIRECTION Grow beyond the 2014-17 Business Plan Global leader in heavy civil engineering and construction Increase scale and global leadership with new focus on North American region Strong presence i
Slide 18: 2014 – 2017 BP Targets and Strategy Update
2014 – 2017 BP Targets and Strategy Update 2014 2015 2017 Reconfirmed 2014 – 2017 Guidance Guidance Targets Business Plan Targets +10% >15% €7B Revenues On track towards BP targets EBITDA EBITDA >10% ~ 10.5% ~ €800M margin Synergies to improve Ebit margin EBIT EBIT >5% ~ 5.5% ~ €500M margin Ebit mar
Slide 19: Appendix
Appendix Extension of the Panama Canal 9M 2015 Financial Results 19
Slide 20: Lane Business Overview: Integrated Business Model
LANE BUSINESS OVERVIEW Integrated Business model Lane Industries Incorporated Construction Projects International Plants & Paving and P3s Construction Projects WUM 6% 40% Revenues¹ (FY 2014) Breakdown 54% Largest US private asphalt Design- Build, traditional Started in 2011 producer Bid-Build
Slide 21: Lane Track Record: Portfolio of High Quality Projects in Execution
LANE TRACK RECORD Portfolio of High Quality Projects in Execution I-4 Ultimate Project, Orange & IH-35E Managed Lanes, Dallas & I-95 Express Lanes, Fairfax and Seminole Counties, FL Denton Counties, TX Stafford Counties, VA Contract Value: $2.3bn (Lane share Contract Value: $849 (Lane shar
Slide 22: Financial Appendix
Financial Appendix South Norfolk Jordan Bridge - VIRGINIA 9M 2015 Financial Results 22
Slide 23: Income Statement
Income Statement Reclassified Income Statement of Salini Impregilo Group 9M 2015 9M 2014 (*) Change Thousand € Operating revenue 3,285,006 3,043,977 241,029 Other revenue 82,485 62,623 19,862 Total revenue 3,367,491 3,106,600 260,891 Costs (**) (3,027,132) (2,800,291) (226,841) Gross operating profi
Slide 24: Statement of Financial Position
Statement of Financial Position Reclassified Consolidated Statement of Financial Position of the Salini Impregilo Group Thousand € 30 September 2015 31 December 2014 change Non-current assets 897,621 832,355 65,266 Non-current assets held for sale, net 68,740 84,123 (15,383) Provisions for risks (10
Slide 25: Net Financial Position
Net Financial Position Net Financial Position of Salini Impregilo Group €/000 30 September 2015 31 December 2014 Change Non-current financial assets 100,015 89,124 10,891 Current financial assets 220,379 156,908 63,471 Cash and Cash equivalents * 995,221 1,030,925 (35,704) Total cash and cash equiva
Slide 26: Disclaimer
Disclaimer This presentation may contain forward-looking objectives and statements about Salini Impregilo’s financial situation, operating results, business activities and expansion strategy. These objectives and statements are based on assumptions that are dependent upon significant risk and uncert
Slide 27: We build value
=. impact ZB Ce we build value