TREVI - Finanziaria Industriale (TFIN) Investor Presentation summary

Executive leadership and company overview

• Led by CEO Giuseppe Caselli and CFO Vincenzo Auciello, both with extensive international EPC and industrial experience.

• Operates through two main divisions: Trevi (underground engineering) and Soilmec (machine manufacturing).

• 2024 revenues reached €663.3m with recurring EBITDA of €83.6m; 3,057 employees worldwide.

• Major shareholders include CDP Investimenti (21.3%), Polaris Capital Management (15%), and Praude Asset Management (5.1%).

Business performance and financial results

• FY24 revenues grew 11.5% YoY to €663.3m, with recurring EBITDA up 12.2% to €83.6m and net profit at €15.6m.

• Free cash flow from operations increased to €32.5m, supporting a net debt reduction to €198.9m and leverage ratio of 2.38x.

• Backlog at year-end was €700.9m, with order intake of €605.4m; 2025 order intake expected to rise 5–10%.

• Trevi Division revenues rose 14.8% to €537.5m, driven by new projects in Europe and the Middle East; Soilmec revenues declined 4.7% but improved margins.

• Geographic revenue mix is well diversified, with significant exposure in the Middle East (48% Trevi, 14% Soilmec), Europe, and North America.

Strategic projects and operational highlights

• Over 1,100 projects delivered globally, including iconic works like the Mosul Dam (Iraq), Grand Paris Express (France), and NEOM The Line (Saudi Arabia).

• 2024–2025 projects include North-East Link Tunnels (Australia), Florence High-Speed Rail (Italy), Metro Manila Subway (Philippines), and NEOM The Line.

• Trevi Division’s 2025–2028 plan targets increased volumes and profitability, with a robust pipeline in North America, Europe, Middle East, and Asia-Pacific.

• Soilmec Division focuses on high-margin equipment and spare parts, expected to account for 91% of 2025 revenues.