Espe (ESPE) Investor presentation summary

Key achievements and business highlights

• Over 790 photovoltaic plants and 200 mini wind turbines installed since inception, with 670 MWp of capacity delivered since 2003.

• 2024 marked by a successful IPO, strategic acquisitions, and expansion into engineering and O&M services.

• Backlog reached €104.9 million as of May 2025, with 97% related to photovoltaic projects and strong visibility through 2026.

• Major contracts signed in 2024–2025 for large-scale photovoltaic plants, totaling over 100 MWp and significant revenue.

• Workforce grew to 118 employees by end of 2024, with ISO and other industry certifications maintained.

Financial performance FY 2024

• Consolidated production value reached €66.0 million, with EBITDA at €8.6 million and net profit of €3.4 million.

• Standalone revenue grew 10.7% to €65.8 million, EBITDA more than doubled to €8.4 million, and net profit rose 132% to €3.8 million.

• Net financial debt increased to €13.9 million, supporting business growth and order backlog expansion.

• Top 10 clients, mainly in the photovoltaic sector, accounted for 95% of 2024 revenues, reflecting market concentration.

• Dividend proposal of €0.15 per share, with a 212% IPO performance as of June 2025.

Market context and growth drivers

• Italian photovoltaic market saw record installations in 2023–2024, driven by residential, industrial, and utility-scale demand.

• Significant investments planned in grid and storage, with €21 billion for the national grid and a target of 22.5 GW storage by 2030.

• Competitive incentives and simplified permitting processes are accelerating renewable energy deployment.