Grupo Ezentis (EZE) Investor update summary

Strategic plan update and growth targets

• Targets doubling revenues and tripling EBITDA between 2025 and 2028, with a focus on growth through acquisitions, operational excellence, and organic expansion.

• Revenue target set to exceed €160 million by 2028, up from €42.3 million in 2025, with EBITDA expected to surpass €12 million and a margin close to 8%.

• Growth strategy combines organic growth, selective M&A, and sector integration, focusing on installations, maintenance, and operational synergies.

• Plan leverages a renewed operating platform, a committed executive team, and disciplined financial management.

• Active M&A pipeline in industrial installations and maintenance, with a disciplined approach to margin protection.

Financial structure and capital strategy

• Leverage expected at 3.0x EBITDA short-term, normalizing to 1.5x long-term, with growth financed through operating cash flow, bank loans, and potential equity raises.

• Financial discipline emphasized to create shareholder value and support inorganic growth.

• Net financial debt at €6.6 million, equity at €5.4 million, and final cash position of €3.1 million projected for 2025.

• Two strategic acquisitions in 2025: EDA (installations/energy, €31.4m sales, €4m EBITDA) and Elías Equipamientos Ganaderos (agroindustrial, €4.4m sales, €0.6m EBITDA).

Market positioning and business lines

• Three business lines: communications networks, technological solutions, and integrated installations, with a focus on comprehensive solutions and national execution capacity.

• Positioned to benefit from trends in energy transition, digitalization, and sustainability, with strong demand for modern infrastructure.

• Highly fragmented Spanish market offers consolidation opportunities, especially among family-owned businesses.

• Aims to consolidate as a sector integration platform, leveraging market fragmentation and intelligent solutions.