Slide 1: FY 2015 Financial Results
FY 2015 Financial Results March 16, 2016 9 Months 2015 Financial Results & Strategy Evolution “Red Line North Underground” Doha – QATAR Riyadh Underground, Line 3 – SAUDI ARABIA
Slide 2: Agenda – Full Year 2015 Financial Results
Agenda – Full Year 2015 Financial Results Strategy and Business Update Pietro Salini Chief Executive Officer Financial Update Massimo Ferrari General Manager Finance & Corporate Group CFO 2
Slide 3: Extension of the Panama Canal – Third set of locks
Extension of the Panama Canal – Third set of locks Completion Progress: 95% FY15 Financial Results 3
Slide 4: Riyadh Underground, Line 3 – Saudi Arabia
Panama Riyadh Underground, Line 3 - SAUDI ARABIA Completion Progress: 14% Backlog: 2,507 million FY15 Financial Results 4
Slide 5: Red Line North Underground, Doha Metro – Qatar
Panama “Red Line North Underground” Doha Metro System - QATAR Completion Progress: 27% Backlog: 1,443 million FY15 Financial Results 5
Slide 6: Grand Ethiopian Renaissance Dam Project
Panama Grand Ethiopian Renaissance Dam Project Completion Progress: 50% Backlog: 1,842 million FY15 Financial Results 6
Slide 7: Solid delivery in the first 2 years of the Business Plan
Solid delivery in the first 2 years of the Business Plan 2013 2015 Achievements Pro-forma Actual Revenue €3,789mn €4,739mn +25% EBITDA €362mn €487mn +35% EBITDA margin 9.5% 10.3% Improved EBITDA margin EBIT €211mn €273mn +29% EBIT margin 5.6% 5.8% Improved EBIT margin EBT €139mn €183mn +32% Lowered
Slide 8: Financial Update
Financial Update Massimo Ferrari General Manager Finance & Corporate Group CFO 8
Slide 9: FY 2015 New Orders & Commercial Activity
FY 2015 New Orders & Commercial Activity New Orders Commercial Activity Asia & Australia Africa 4% €m Tenders 12% Tenders awaiting outcome 13,778 26 Middle of which " Best Offer" 2,140 3 Main new orders in 2015: East Tender in Preparation 14,110 31 Al Bayt stadium – Qatar Americas 40% €5.4 bn Expe
Slide 10: Backlog Evolution
Backlog Evolution Total Backlog Increase (€/billion) Dec-15 Construction Backlog Asia & Australia 32.4 33.3 3% Americas 13% Africa 21% 7.1 7.1 Europe Concession 9% Exposure to high/critical Construction €26.2 bn countries reduced to 28% 25.3 26.2 from 33% in the last year Middle East 19% Italy 35% D
Slide 11: P&L Bridge
P&L Bridge 2014 2015 Revenues by Geography €/million 2015 Change restated Asia & Australia 7% Revenues 4,241.5 4,738.9 11.7% Americas Africa 25% EBITDA 427.9 486.5 13.7% 15% Ebitda margin 10.1% 10.3% EBIT 245.0 272.7 11.3% €4.7 bn Europe Ebit margin 5.8% 5.8% 20% 4,739 (4,252) EBT 112.2 183.4 63.5%
Slide 12: Capital Structure & Debt Evolution
Capital Structure & Debt Evolution €mn Dec 2015 Dec 2014 Net debt reduced by 87% Cash & Cash Equivalents 1,411 1,031 in the first 2 years of Other Financial Assets 380 246 Business Plan Total Cash & Other Financial Assets 1,791 1,277 Gross Debt Bank Loan (1,284) (704) Bond (406) (561) Leasing (129)
Slide 13: Financial Policy & Structure
Financial Policy & Structure 2014 2015 Financial Costs Optimization Significantly reduced average total debt cost 5.3% 3.8% Objectives of which average bank debt cost 4.3% 2.6% Maintaining a sound & solid Capital Structure Financial charges reduction (€/mn) 135.6 -21% 107.5 optimized to suppor
Slide 14: Cash-flow
Cash-flow OPERATING CASH OPERATI FREE CASH FLOW FLOW +540 NG FREE +62 CASH 53 FLOW 487 +239 (301) (104) (73) (27) (89) NFP EBITDA WC variations CAPEX taxation ad other minor NFP december 14 financial items december 15 charges FY15 Financial Results 14
Slide 15: Key Messages
Key Messages Solid delivery on our business plan targets for 2015 Significantly reduced net debt and lowered financial costs Completed the acquisition of Lane Industries Inc. Successful disposal of Todini Costruzioni Generali Strengthened internal management structure Reduced global risk profile Mar
Slide 16: Appendix
salini impregilo @ @ Appendix 16
Slide 17: Income Statement
Income Statement Reclassified Income Statement of Salini Impregilo Group Thousand € 12 months 2015 12 months 2014 * Change Operating revenue 4,595,483 4,136,361 459,122 Other revenue 143,393 105,119 38,274 Total revenue 4,738,876 4,241,480 497,396 Costs (**) (4,252,366) (3,813,628) (438,738) Gross o
Slide 18: Statement of Financial Position
Statement of Financial Position Reclassified Consolidated Statement of Financial Position of the Salini Impregilo Group Thousand € 31 December 2015 31 December 2014 change Non-current assets 919,440 832,355 87,085 Non-current assets held for sale, net 41,594 84,123 (42,529) Provisions for risks (106
Slide 19: Net Financial Position
Net Financial Position NET FINANCIAL POSITION OF SALINI IMPREGILO GROUP €/000 31 December 2015 31 December 2014 Change Non current financial assets 67,832 89,124 (21,292) Current financial assets 312,104 156,908 155,196 Cash & Cash equivalents 1,410,775 1,030,925 379,850 Total cash and cash equivale
Slide 20: 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 21: we build value
=. impact ZB Ce we build value