Edil San Felice (ESF) Investor presentation summary

Financial performance and growth

• Production value rose 5.7% to €26.05M in H1 2025, driven by portfolio expansion and operational efficiency.

• EBITDA increased to €6.04M with a stable margin of 23.2%; EBIT grew 3.4% YoY to €5.31M.

• Net financial position improved to +€7.30M, reflecting strong cash flow and tight working capital management.

• Backlog reached €214.8M (+67% YoY), with €88.4M hard backlog and €126.3M soft backlog.

• Net income for H1 2025 was €4.12M, slightly down from €4.28M in H1 2024.

Business operations and contracts

• Focus on ordinary (40% of production) and extraordinary (60%) maintenance for highways and civil infrastructure.

• Major clients include Autostrade per l'Italia, ANAS, Gruppo FS Italiane, and Avio.

• Key projects in 2025 include Vega-C launch base (€1.8M), railway station maintenance (€12M), and safety barrier upgrades.

• Over €112M in new contracts awarded in H1 2025, including significant deals with ASPI and Anas.

• Efficient contract execution with zero late deliveries or penalties and rapid project start post-award.

Market environment and positioning

• Italian infrastructure maintenance market is growing, supported by EU funds and increased focus on safety.

• Estimated annual market size for highway maintenance is €840M, with main players being Autostrade per l'Italia and ANAS.

• Company differentiates through direct execution, high specialization, and strong ESG credentials.

• Geographic and sector diversification continues, with expansion into new regions and client segments.