Edil San Felice (ESF) Investor presentation summary

Company history and overview

• Over 40 years in infrastructure maintenance, evolving from a small cooperative to a leading integrated operator with a zero-outsourcing policy since 2002, ensuring quality and safety control.

• Operates in 12 regions with 239 employees, focusing on both ordinary and extraordinary maintenance for critical infrastructures.

• Achieved significant revenue growth: €29.1M in 2021, €34.2M in 2022, and €45.8M in 2023, with EBITDA margin rising to 25.4%.

• Listed on Euronext Growth Milan since September 2023.

Business model and operations

• Maintains full control over project awarding and execution, with a typical two-month lead from tender to project start and cash collection within 60 days of invoicing.

• Zero-outsourcing approach maximizes operational efficiency and worker safety.

• Balanced revenue mix: 48% from ordinary maintenance and 52% from extraordinary maintenance, serving major clients like Autostrade per l’Italia and Gruppo FS Italiane.

• Backlog conversion to revenue is rapid due to short service delivery periods.

Post-IPO developments

• Acquired Sogem S.r.l. (now Aurest S.r.l.) to expand restoration and maintenance capabilities.

• Obtained new SOA certifications and acquired a new industrial site in Nola to boost production, supported by a €5M regional grant.

• Established two business units: Operations (BUOP) and Engineering & Construction (BUR) for focused growth.

• Secured major new contracts in both ordinary and extraordinary maintenance, including multi-million euro deals with Amplia and RFI.