SALCEF GROUP S.P.A. Company Presentation
STAR Conference
21 March 2024
Speakers
Fabio De Masi | Alessio Crosa |
Chief Corporate & | Chief Communication & |
Financial Officer | Sustainability Officer |
2
Agenda
04
Salcef Group Overview
05
Business Units
06
Sector and Market highlights
FY 2023 Results
Sustainability at Salcef
Contacts
3
Salcef Group Overview
Salcef Group in a nutshell
Global leader in the railway infrastructure
Business Units | 7 |
Operating 15 Companies1
Foreign8
Branches1countries
Plants6
Employees1>2,000
Experience and track record to guarantee execution and quality
>1,100 Railway machines in fleet
>8,900 km railways renewed
2,600 km railways built
348 km of High-Speed lines built
>1,200 km catenary renewed
> € 180 Mln CAPEX in 2020-2023
Well positioned for sustainable growth
Investments in railway industry increase globally
Unique business model to maximize synergies and provide
opportunities for diversification
Best-in-class technologies and capabilities, continuously updated
and innovated
Financial flexibility to implement organic CAPEX Plan and catch external growth opportunities, with proven track record in M&A
5
1. Figures at 31 December 2023
Group Structure
HOLDING
- Listed Euronext Milan Market, STAR segment
- 64.77% controlled by Finhold S.r.l. - 35.23% Floating & Treasury shares
OPERATING COMPANIES
100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 99.48% | |||||
COGET | Colmar | SALCEF | |||||||||||||
SALCEF USA Inc. | |||||||||||||||
SALCEF S.p.A. | EURO FERROVIARIA S.r.l. | FRANCESCO | IMPIANTI S.r.l. RECO S.r.l. | SRT S.r.l. | Technik S.p.A. OVERAIL S.r.l. | DEUTSCHLAND GmbH | SALCEF EGYPT | ||||||||
VENTURA | CONSTRUCTION | ||||||||||||||
COSTRUZIONI | |||||||||||||||
55% | FERROVIARIE S.r.l. | ||||||||||||||
Consorzio | 100% | 100% | |||||||||||||
Stabile | |||||||||||||||
Contese | 25% | 100% | 90% | ||||||||||||
Consorzio Armatori | Salcef Railroad | Delta Railroad | |||||||||||||
Services Inc. | Construction Inc. | ||||||||||||||
Ferroviari S.c.p.A. | |||||||||||||||
96% | 60% | ||||||||||||||
Consorzio Stabile | |||||||||||||||
Itaca S.c.a.r.l. | Salcef | ||||||||||||||
Nordic AS |
COMMERCIAL BRANCHES
100%
CROATIA NORWAY UAE ROMANIA SWITZERLAND AUSTRALIA EGYPT
100%
ROMANIA | SAUDI ARABIA | EGYPT |
6
Active in the railway sector for more than 70 years
Establishment of the | Salciccia family acquires |
first company | the business and |
operating in Italy in | launches an important |
track maintenance | development plan |
Growth phase through:
- Capacity building
- Sector consolidation in Italy
- Business development in Eastern Europe and Middle East
First
international | Listing on the |
acquisition in | Euronext Growth |
Germany | Milan market |
1949 | 1975 | 1975-2017 | 2018 |
2023 | 2022 | 2021 |
2019
2020
Acquisition of Colmar Technik
• Acquisition of PSC Group's business | Second |
unit operating in the railway sector | acquisition in |
(signaling, electrification, Telco, electrical | Germany |
substations and safety systems)
• Acquisition of Francesco Ventura Costruzioni Ferroviarie (track maintenance and construction)
- Debut on the Euronext Milan market
- Acquisition of Delta
Railroad Construction in the US
7
Bigger than ever, targeting further growth
- Mln
2023 vs. 2020 | |
2023 vs. 2022 | |
Backlog | |
+268.0% | +30.4% |
Revenues1
EBITDA1 | Adj. Net Income1,2 | ||
2,218 |
1,701 |
1,200 |
+133.5% | +40.5% | ||
794.7 | |||
565.6 | |||
440.1 | |||
340.3 | |||
2020 | 2021 | 2022 | 2023 |
+103.5% | +39.6% | ||
160.5 | |||
115.0 | |||
97.3 | |||
78.9 | |||
2020 | 2021 | 2022 | 2023 |
+53.4% | +13.5% | ||
DPS (€) | 64.0 | ||
52.2 | 56.3 | 0.55 | |
41.7 | |||
0.50 | |||
0.46 | |||
0.42 | |||
2020 | 2021 | 2022 | 2023 |
603 | |||
2020 | 2021 | 2022 | 2023 |
Headcount
+61.9% | +5.6% | ||
1,929 | 2,037 | ||
1,258 | 1,409 | ||
2020 | 2021 | 2022 | 2023 |
1. 2022 and 2023 figures, where applicable, has been restated to retroactively reflect the effects resulting from the completion of the purchase price allocation related to the acquisitions of the railway business unit of PSC
Group and of Francesco Ventura Costruzioni Ferroviarie s.r.l., in accordance with the accounting principles in force | 8 | |
2. 2020 and 2021 adjusted to exclude the impact on financial expenses of the fair value gains and losses on the "warrant in compendio e integrativi" and the tax impact of the reversal of deferred tax assets on revaluations. |
2022 and 2023 adjusted to exclude the tax impact of the reversal of deferred tax assets on revaluations, the impact on financial expenses of the fair value change on financial investments and non-recurring tax expenses
Rail transportation value chain
B2G
B2C
INFRASTUCTURE | OPERATIONS |
DESIGN | CONSTRUCTION | MANAGEMENT | ROLLING STOCK | PASSENGERS OR |
MANUFACTURING | FREIGHT TRANSP. | |||
• | Pre-feasibility and | • | Civil Works | • | Inspection |
feasibility studies | • | Trackworks | • | Maintenance | |
Environmental | |||||
• | • | Electrification | • | Renewal | |
impact studies | |||||
• | Signalling | ||||
• | Project management | ||||
• | Other technologies | ||||
• | Testing | ||||
MACHINES + MATERIALS
9
1 Strategic BU and 7 vertically integrated Operative BUs
FY 2023
Revenues
Industrial presence
58.0%Track & Light
€ 461.1 Mn | Civil Works |
14.6% | Energy, Signalling & | RAILWAY |
€ 115.8 Mn | Telecommunication | INDUSTRY |
6.1% | Railway |
€ 48.2 Mn | Materials |
1. 100% intercompany
Railway Machines
Heavy Civil Works
Rail Grinding & Diagnostics
Engineering
2.7%
€ 21.8 Mn
16.1%
€ 127.6 Mn
2.6%
€ 20.3 Mn
0.0%1
10
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Disclaimer
Salcef Group S.p.A. published this content on 20 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 March 2024 07:52:06 UTC.
