Edil San Felice (ESF) Investor presentation summary

Company background and leadership

• Over 40 years in infrastructure maintenance, evolving from a small cooperative to a listed company with a strong family leadership tradition.

• CEO Lorenzo Di Palma and CFO Vincenzo Di Pietro bring decades of sector experience.

• Recent expansion includes new headquarters, production units, and a branch in Emilia Romagna.

• Listed on Euronext Growth Milan since September 2023.

• Shareholding is concentrated, with 76% held by The Sight S.r.l. (Lorenzo Di Palma).

Business model and operations

• Focuses on both ordinary (37%) and extraordinary (63%) maintenance of highways and infrastructure.

• Maintains full control over project execution with a zero-outsourcing policy, enhancing safety and efficiency.

• Backlog is split into hard (€62.5mn) and soft (€52.3mn) components, providing strong revenue visibility.

• Recent projects include major viaduct repairs and upgrades across Italy.

• Business units established for operations and engineering/construction to streamline project management.

Financial performance and growth

• 1H 2024 revenues reached €24.6mn, up 14.6% YoY, with EBITDA at €5.7mn (23.1% margin).

• Net income for 1H 2024 was €4.2mn, with net cash at €6.5mn despite €6mn in capex.

• Total backlog at €114.8mn, supporting future revenue growth.

• Stock price has risen over 60% since IPO, outperforming the small-cap index.

• Balance sheet shows increased tangible assets and strong equity growth.