Next Geosolutions Europe Spa · MIL:NXT
Next Geosolutions Europe Spa — FY2024 Earnings Presentation
31 slides from Next Geosolutions Europe Spa's earnings presentation, Mar 4, 2025
Slide 1: FY 2024 Results
FY 2024 Results 4 March 2025
Slide 2: Message from the CEO
Message from the CEO ”2024 has been a year of strong growth for NextGeo, with double-digit increases across all key financial indicators, a solid expansion of our backlog and commercial pipeline. We continue to demonstrate the strength of our business model and our ability to meet the evolving deman
Slide 3: NEXTGEO at a Glance
NEXTGEO at a Glance N) NEXTGEO
Slide 4: Key 2024 Results
Key 2024 Results 36.8% €203.3 m Total Revenues Total Revenues YoY Growth 60.4% 31.2% 3.6% 4.8% Interconnector Wind Farm Oil & Gas Other 80% Renewables €54.0 m €47.9 m EBITDA EBIT 26.5% 23.6% EBITDA EBIT Margin1 Margin2 Backlog3 ~€335 m as of 31.12.2024 4 Notes: 1) EBITDA / Total Revenues; 2) EBIT /
Slide 5: 2024 Revenues by Area & Market
2024 Revenues by Area & Market North Sea Main Projects of 2024 Mediterranean Sea Geographic Area Nederwiek 1&2 Offshore Wind Farm 43% 57% SACOI 3 Bay of Biscay Interconnector Interconnector Courseulles Poseidon Offshore Offshore Wind Farm Wind Farm Interconnector 122.8 M Interconnector Market segmen
Slide 6: 2024 Top Client by Revenues
2024 Top Client by Revenues Client 1 44.7 M 22 % by 2024 Revenues Client 2 39.3 M Top 5 Client 21 % Client 3 29.3 M 14 % Client 4 22.8 M 11 % Client 5 19.4 M 10 % Other 47.8 M 22 % 0 10 20 30 40 50 Value expressed in millions of Euro 6
Slide 7: Roadmap since IPO
Roadmap since IPO IPO on Award of Purchasing of Acquisition of Euronext Growth Milan ISPRA project - €42.5 M HD ROV – Schilling “Subonica Srl” May July July Augut 2024 2024 2024 2024 January January January December December 2025 2025 2025 2024 2024 Award of Purchasing of Award of Award of Purchasin
Slide 8: Backlog & Pipeline
Backlog & Pipeline 1 BACKLOG ~Euro 335 M 2028 As of Last year 31.12.2024 covered PIPELINE 2 ~Euro 510 M 2031 As of Last year 31.12.2024 covered Value expressed in millions of Euro 8 Notes: 1) Represents the value of signed or awarded contracts/orders; 2) Represents the value of submitted bids for wh
Slide 9: 2024 Financial Results
2024 Financial Results NY NEXTGEO
Slide 10: Economics
Economics 2023 - 2024 Growth 2023 - 2024 Total Revenues 203.3 • Total revenues growth driven by: 148.6 Total 36.8% • Projects with higher size; Revenues YoY Growth • Increasing number of projects; • Favourable market trends. 2023 2024 26.5% • Impressive marginality thanks to: EBITDA margin 27.3% • E
Slide 11: Financials
Financials 2023 - 2024 Growth 2023 - 2024 68.9 • Fixed assets increases due to the FIXED +26.6M 42.4 significant capex (32.7 millions, 16.1% ASSETS YoY of Total revenues), mainly in vessels and equipment made in 2024. 2023 2024 • Net Working Capital decreases 19.7 primarily driven by the dynamics NE
Slide 12: Focus on income statement
Focus on income statement 203.3 FY 2024 54.0 47.9 43.1 (149.3) (6.1) (0.2) 26.5% 23.6% (4.6) 21.2% TOTAL Operating EBITDA D&A EBIT Net Taxes NET REVENUES costs financial INCOME expenses 148.6 FY 2023 40.5 35.3 29.2 (108.1) (5.1) 27.3% 23.8% (1.9) (4.3) 19.6% TOTAL Operating EBITDA D&A EBIT Net Taxes
Slide 13: Costs details
Costs details 2023 2024 TOTAL TOTAL +36.8% REVENUES REVENUES % on Total revenues 148.6 M 203.3 M % on Total revenues • Pay-per-use strategy guaranteeing high-cost flexibility Other operating costs 0.2 Other operating costs and keeping the D&A costs 0.1% 0.1% relatively low. 6.1 D&A and writedown 14.
Slide 14: Financials details
Financials details Net Invested Capital Capex Evolution +17.0 M % on +12.1 M % on 58.9 75.9 Total 20.6 32.7 Total revenues revenues 13.8% 16.1% 9.0 0.5 Net working capital 0.0 - Business Acquisition 19.7 0.0 Financial Fixed assets 27.9 68.9 18.9 Tangible 42.4 Other non-current Intangible 1.7 4.3 (3.
Slide 15: 2024 CAPEX of Euro 32.7 millions focused on vessels and equipment
2024 CAPEX of Euro 32.7 millions focused on vessels and equipment TANGIBLE ASSET INTANGIBLE ASSET Business Acquisition Breakdown Breakdown Subonica Srl NG Surveyor 3.6 Eur M Leasehold imprvm. & ICT 0.6 Eur M Acquisition of 100% of 0.5 Eur M Subonica Srl NG Explorer 6.9 Eur M Cost for IPO process 3.7
Slide 16: Detail of changes in NFP
Detail of changes in NFP Impressive EBITDA, superior investments and excellent capital collection through successful IPO NFP 2023 (9.7) Changes in NFP 76.5 NFP 2024 66.8 Free cash flow from operations 50.0 66.8 13.0 (0.2) 0.3 58.9 54.0 (8.2) 0.2 (32.7) (9.7) NFP 2023 EBITDA Changes in Net financial
Slide 17: Operating KPIs
Operating KPIs Vessel days sold in 2024 Days Sold / Total Capacity NextGeo Fleet 639 days 89% Marnavi Fleet 1,379 days 77% Other external 185 days vessels 0 500 1,000 Personnel days sold in 2024 ROV days sold in 2024 Days Sold / Total Capacity NextGeo 7.388 days Owned Personnel 802 days ROV 74% Exte
Slide 18: Sustainability
Sustainability N) NEXTGEO
Slide 19: Sustainability - Reporting
Sustainability - Reporting Joined the “Water Sustainability EcoVadis Gold Three-Year Strategic Carbon Disclosure Defenders Alliance” Report 2023 Medal Gender Equality Plan Project Sustainability Increasing GHG Gender Equality Open-Es Card Report 2024 Reporting Scope Certification 19
Slide 20: Market Outlook & Trends
Market Outlook & Trends N) NEXTGEO
Slide 21: Market Outlook – 2024 Snapshot
Market Outlook – 2024 Snapshot Offshore 77.9 GW Capacity currently installed globally Wind Farm Market N. of turbines currently installed 14,124 globally, generating power Length of subsea cables for OWF, 36,135 km globally installed Share of European Market on the 46% global installed capacity in G
Slide 22: Market Trends: Interconnector and OWF Cables Europe
Market Trends Interconnector Market – Europe (in € bln) OWF Cables Market – Europe (in € bln) The total amount of EPCI expenditure for Interconnectors Cumulative installation costs for OWF subsea cables cables between 2025-2035 estimated to be ˷60€ bln Between 2025-2035 estimated to be ˷33€ bln Incr
Slide 23: Market Trends: OWF Drilling and Opex Europe
Market Trends OWF Drilling Market - Europe (in # of turbines) OWF Opex Market – Europe (in € bln) Between 2025-2035 there’re 5,125 offshore turbines to be The OWF Opex until 2040 is estimated to reach approx. ˷ 26€ bln installed (on a total of ˷ 64€ bln until 2040) ( approx. 90% fixed – 10% floating
Slide 24: Market Trends: Oil&Gas Subsea Backlog and Capex
Market Trends Oil&Gas – Subsea EPC Contractors Backlog (in € bln) Oil&Gas – European Capex (in € bln) Total Backlog for top 3 EPC Oil&Gas-Subsea The European Capex for all the Oil&Gas activities, contractors has reached ˷ 48€ bln in 2024 until 2030 is estimated to reach ˷ 205€ bln 50 45 200 45 40 40
Slide 25: Future strategies
Future.ccoillli sania rr strategies (N) NEXTGEO
Slide 26: Fleet & Geographic Expansion Through Organic and Inorganic Growth
Fleet & Geographic Expansion Through Organic and Inorganic Growth Organic Expansion Inorganic Expansion Following the purchase of: Next Geo has identified few european target companies for inorganic expansion MPSC vessel ROV HD Schilling & «NG Surveyor» other equipment (tot. Investment value 21 Eur
Slide 27: Thanks for the attention
Thanks for the attention The presentation contains economic, financial and equity data as of December 31, 2024 compared with the same data for the previous financial year. The figures in absolute value and percentage are calculated on the basis of precise financial data. Some of the differences foun
Slide 28: Appendix
Appendix NY NEXTGEO
Slide 29: Income Statement
Income Statement Value expressed in millions of Euro 2023 2024 Operating revenues 79.9 301.8 Changes in contract work in progress 64.0 (102.4) Other revenues 4.6 3.9 TOTAL REVENUES 148.6 203.3 Raw materials (10.2) (12.5) Cost of services (46.3) (75.6) Leases and rentals (39.8) (46.7) Personnel expen
Slide 30: Balance Sheet
Balance Sheet Value expressed in millions of Euro 2023 2024 Tangible assets 39.3 63.1 Intangible assets 3.1 5.8 Financial assets 0.0 0.0 FIXED ASSETS 42.4 68.9 Inventories 123.9 23.3 Trade receivables 39.6 35.0 Trade payables (29.2) (27.1) Advances (116.6) (19.6) TRADE WORKING CAPITAL 17.7 11.7 TWC
Slide 31: Cash Flow Statement
Cash Flow Statement Value expressed in millions of Euro 2023 2024 A) Cash flow from operating activities Net Income 29.2 43.1 Taxes 4.3 4.6 Financial expenses (income) 1.7 0.5 1) Profit before income taxes, interest, dividends and capital gains / losses on disposal 35.2 48.2 Provision to funds 0.4 0
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