Tesmec S p A: Revises the 2021 closing forecasts







TESMEC SPA REVIEWS 2021 CLOSING FORECAST

  • Preliminary 20211 income amounted to approx. €194 million (compared to previous guidance of around €200 million), generating preliminary EBITDA above 14% (compared to previous guidance of around 15%), with an increase in net financial debt of approx. 11 million euros (compared to the previous forecast of around 110 million euros).
  • The order book amounted to approx. €284 million, up from both €262.6 million as of September 30, 2021 and €282.4 million as of December 31, 2020.
  • The Board of Directors of the Company for the review and approval of the financial statements of Tesmec SpA and the consolidated financial statements of the Group as of December 31, 2021 is scheduled for March 11, 2022.

Grassobbio (Bergamo – Italy), February 11, 2022 Tesmec SpA (MTA, STAR: TES) (“Tesmec“or the”Society“), at the head of a leading group in the technology market for infrastructures (overhead, underground and rail networks) linked to the transport of energy, data and materials (oil and derivatives, gas and water), and surface mining technologies, revises the 2021 closing forecasts and communicate the Preliminary consolidated results 2021, which, although resulting in an improvement in terms of revenues and margins compared to 2020 (approximately 14% of revenues and 28% of margins respectively), are not in line with the objectives for the period due to the slowdown in the business of the trenchers segment which suffered from prolonged delays generated by external factors related to material sourcing, deliveries and exponential growth in utility and raw material costs; as well as due to the sudden aggravation of the state of emergency Covid19,which delayed the recovery in regions that had experienced slowdowns during the year, such as the United States of America and Australia. The rail sector and the energy sector, on the other hand, achieved the end of the yearobjectives with profitability in line with the Plan.

The delay in invoicing in the Trenching Sector, the slowdown in activities related to certain contracts in the Rail Sector and the change in the net working capital requirement resulting from orders to be filled mainly in the Trenching Sector impacted Net Financial Debt.

The Group has thus recorded the following items consolidated preliminary results for the year 2021: preliminary revenue of around €194 million (compared to the previous forecast of around €200 million), profitability of more than 14% (compared to the forecast by around 15%), thanks to the significant contribution of the Businesses have developed in recent years, Railway and Energy Automation, which have partially offset the difficulties of the Trenchers sector which has been most affected by the current situation, and Net Financial Debt up by approx. 11 million euros (compared to the previous forecast of around 110 million euros).

Despite the delays and criticalities in terms of revenues and margins for the year 2021, the Group confirms the medium-long term trend and the orientations of the 2020-2023 Plan, given that Tesmec operates in strategic sectors characterized by extreme vivacity and significant growth prospects.

1 Preliminary unaudited consolidated results prepared in accordance with IAS / IFRS standards.

Tesmec SpA – via Zanica, 17/O – 24050 Grassobbio (Bergamo) – Italy

Phone. +39.035.4232911 – Fax +39.035.4522444 – [email protected] – www.tesmec.com

the backlog amounted to approx. €284 million, up from both €262.6 million as of September 30, 2021 and €282.4 million as of December 31, 2020. The backlog confirms the validity of the investments made by Tesmec in the railway sector and in the energy automation segment characterized by solutions with higher added value and lower volatility.

On March 11, 2022, upon review and approval of the Financial Statements of Tesmec SpA and the Group Consolidated Financial Statements as at December 31, 2021 by the Company’s Board of Directors, Tesmec will disclose all major economic and the Group’s financial statements, as well as details relating to the business outlook for 2022 and the orientations of the business plan.

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The person responsible for the preparation of the company’s accounting documents, Marco Paredi, declares, in accordance with article 154-bis, paragraph 2, of Legislative Decree no. 58/1998 (“Consolidated Finance Law”) that the information contained in this press release the output corresponds to the results document, books and accounting documents.

It should be noted that in this press release, in addition to the financial indicators required by IFRS standards, there are also some alternative performance indicators (eg EBITDA) in order to allow a better understanding of economic and financial management. These indicators are calculated according to standard market practices.

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For more information:

Tesmec SpA

Image Creation – Media Relations

Marco Paredi

Alfredo Mele, Carlo Musa

Investor Relations Manager

Tel: +39 02 89011300

Tel: +39 035 4232840 – Fax: +39 035 3844606

E-mail: [email protected]

E-mail: [email protected]

The press release is also available on the website www.tesmec.com, in the “Investors” section: https://investor.tesmec.com/en/Investors/PressReleases.

Tesmec SpA – via Zanica, 17/O – 24050 Grassobbio (Bergamo) – Italy

Phone. +39.035.4232911 – Fax +39.035.4522444 – [email protected] – www.tesmec.com

Tesmec Group

Tesmec Group is active in the design, production and marketing of systems and integrated solutions for the construction, maintenance and diagnosis of infrastructures (overhead, underground and rail networks) for the transport of energy, data and materials (oil and derivatives, gas and water), as well as technologies for quarries and surface mining. The Group operates in the following segments: – Energy. Tesmec Group designs, manufactures and markets machines and integrated systems for the construction and maintenance of overhead and underground power lines, fiber optic networks (Stringing segment), as well as advanced equipment and systems for automation, efficiency, management and monitoring of high, medium and low voltage electrical networks and substations (Energy Automation Division); – Slicer. Tesmec Group carries out the design, production, sale and rental of functional trenchers for four types of activities (excavation and mining, excavations for the installation of pipelines, for the construction of telecommunications and optical fiber infrastructures, excavations for the construction of underground electrical installations networks), as well as the provision of specialized excavation services. The slicers are rented by the Group both with an operator (hot rental or wet rental) and without an operator (cold rental or dry rental); – Railway. The Group designs, manufactures and markets machines and integrated systems for the installation and maintenance of the railway catenary, diagnostic devices for the catenary and the railway track, as well as tailor-made machines for special operations on the line.

Born in Italy in 1951 and led by CEO Ambrogio Caccia Dominioni, the Group has more than 900 employees and has its production sites in Grassobbio (Bergamo), Endine Gaiano (Bergamo), Sirone (Lecco), Monopoli (Bari) and Bitetto (Bari) in Italy, Alvarado (Texas) in the USA and Durtal in France. It relies on three research and development units in Fidenza (Parma), Padua and Patrica (Frosinone). Listed on the EURONEXT STAR MILAN of the Euronext Milan market of the Italian Stock Exchange, the Group benefits from a global commercial presence through foreign subsidiaries and sales offices in the United States, South Africa, East Africa West, Australia, New Zealand, Russia, Qatar and China.

In its development strategy, the Group intends to consolidate its position as a solution provider in the three aforementioned businesses, by exploiting the trends of energy transition, digitalization and sustainable development.

Tesmec SpA – via Zanica, 17/O – 24050 Grassobbio (Bergamo) – Italy

Phone. +39.035.4232911 – Fax +39.035.4522444 – [email protected] – www.tesmec.com

Warning

Tesmec SpA published this content on February 11, 2022 and is solely responsible for the information contained therein. Distributed by publicunedited and unmodified, on Feb 11, 2022 5:17:08 PM UTC.

Public now 2022

All the news of TESMEC SPA

Sales 2021 213M
245 million
245 million
Net income 2021 5.60M
6.43M
6.43M
Net debt 2021 97.2 million
112 million
112 million
PER 2021 ratio 17.1x
2021 performance
Capitalization 92.7 million
106 million
106 million
EV / Sales 2021 0.89x
EV / Sales 2022 0.71x
# of employees 945
Floating 49.8%


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Tesmec SpA Technical Analysis Chart |  MarketScreener

Trends Technical Analysis TESMEC SPA

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Evolution of the income statement

To sell

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Medium consensus TO BUY
Number of analysts 1
Last closing price

€0.15

Average target price

€0.25

Average Spread / Target 62.3%


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