Implenia (IMPN) Investor presentation summary

Market positioning and growth drivers

• Operates in structurally growing markets, focusing on urban infrastructure, energy systems, and sustainable buildings, leveraging megatrends like urbanisation, sustainability, and digitalisation.

• Maintains a balanced, diversified portfolio across geographies, segments, and project sizes, with about half of revenues generated outside Switzerland.

• Market leader in high-margin sectors such as data centres, tunnelling, and property management, with strong positions in Switzerland and across Europe.

• Positioned to benefit from public investment programs and modernisation demand, especially in data centres, healthcare, tunnelling, and energy infrastructure.

Strategic focus and operational excellence

• Refined strategy targets profitable growth, operational excellence, and capability expansion along the value chain, structured in three phases: differentiate, scale, and lead.

• Value Assurance approach ensures disciplined project selection, risk management, and margin control, resulting in higher and more predictable margins.

• Emphasis on digitalisation and AI, with early adoption of cloud, SAP S/4HANA, and proprietary AI solutions to drive efficiency and innovation.

• Industrialisation strategy leverages BIM, prefabrication, and lean optimisation to improve project delivery, safety, and cost control.

Financial performance and resilience

• Improved profitability, free cash flow, and reduced net debt in 2025, with an operating margin (EBIT) of 4.0% and a strong order book of CHF 8.5bn.

• All divisions showed financial progress, with Buildings and Civil Engineering driving revenue and margin growth, and Service Solutions delivering high margins.

• Diversified contract models and customer base, with a shift towards collaborative, low-risk models like Design & Build and Alliance, reducing volatility and enhancing value creation.

• Well-financed with a balanced bond maturity profile and strong liquidity, aiming to further reduce leverage.