Trevi Fin Industriale

Earnings Release • May 31, 2024

Informazione Regolamentata n. 0262-27-2024	Data/Ora Inizio Diffusione 31 Maggio 2024 17:45:03		Euronext Milan
Societa'	:	TREVI GROUP
Identificativo Informazione Regolamentata	:	191554
Utenza - Referente	:	TREVIN04 - Sala
Tipologia	:	REGEM
Data/Ora Ricezione	:	31 Maggio 2024 17:45:03
Data/Ora Inizio Diffusione	:	31 Maggio 2024 17:45:03
Oggetto	:	INFORMATION REQUIRED BY CONSOB PURSUANT TO ART. 114 OF THE LEGISLATIVE DECREE No. 58/98
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INFORMATION REQUIRED BY CONSOB PURSUANT TO ART. 114 OF THE LEGISLATIVE DECREE No. 58/98

Cesena, May 31 st , 2024 – Trevi - Finanziaria Industriale S.p.A. ("Trevifin" or the "Company") as requested by Consob on December 10, 2018 pursuant to art. 114 of the Legislative Decree No. 58/98 ("TUF"), communicates the following information updated at April 30 th , 2024:

A) Company and Trevi Group net financial position, with separate disclosure of the shortterm position and the medium/long-term position

	Description (In thousands of Euro)	30/04/2024	31/12/2023	Variation
A	Cash	592	3,940	(3,348)
B	Cash equivalents	0	0	0
C	Other current financial assets	79,298	79,308	(10)
D	Cash and cash equivalents (A+B+C)	79,890	83,248	(3,358)
E	Current financial liabiltiies	19,929	19,929	(0,3)
F	portion of non-current financial liabilities)	8,734	9,188	(455)
G	current financial debt (E+F)	28,662	29,117	(455)
H	Net current financial position (G-D)	(51,228)	(54,131)	2,903
I	Non-current financial liabiltiies	90,762	86,549	4,213
J	Debt instruments issued	50,000	50,000	0
K	Trade payables and other non-current liabilities	0	0	0
L	Non-current financial debt (I+J+K)	140,762	136,549	4,213
M	Total financial position (H+L) (as per Consob n.5/21 of 29 april 2021)	89,534	82,418	7,116

The Net Financial Position of the Company amounts to Euro 89.5 million.

The main changes in the Company Net Financial Position at the end of April 2024, compared to the end of December 2023, are due to:

• Cash Flow generated by the operative activities as per amounts collected by the Company from clients and payments executed towards suppliers.
• IFRS9 effect on financial debt for a negative impact of approximately Euro 2.2 million (The entire effect of IFRS9 on the financial debt as at April 2024 is positive for Euro 19.8 million.)

The Net Financial Position of the financial statements of the Company at December 31 st , 2023 and April 30 th , 2024 includes the partial write-down of intercompany financial receivables; this effect does not generate any impact in the Trevi Group Consolidated Net Financial Position.

	Description (In thousands of Euro)	30/04/2024	31/12/2023	Variation
A	Cash	81,175	80,838	337
B	Cash equivalents	5,108	3,818	1,290
C	Other current financial assets	12,932	13,383	(451)
D	Cash and cash equivalents (A+B+C)	99,215	98,039	1,176
E	Current financial liabiltiies	46,679	54,830	(8,151)
F	portion of non-current financial liabilities	28,537	23,263	5,274
G	current financial debt (E+F)	75,215	78,093	(2,878)
H	Net current financial position (G-D)	(23,999)	(19,946)	(4,053)
I	Non-current financial liabiltiies	180,926	171,938	8,988
J	Debt instruments issued	50,000	50,000	0
K	Trade payables and other non-current liabilities	0	0	0
L	Non-current financial debt (I+J+K)	230,926	221,938	8,988
M	Total financial position (H+L) (as per Consob n.5/21 of 29 April 2021)	206,926	201,992	4,934

Trevi Group Net Financial Postition at April 30 th , 2024 amounts to Euro 206.9 million.

The main changes in the Group Net Financial Position as of April 30 th , 2024, compared to December 31st , 2023, are mainly due to:

• Increase of cash and cash equivalents of approximately Euro 1.6 million
• Increase of financial liabilities for Euro 6.1 million. This change includes the IFRS9 reversal effect on financial debt increasing the debt for approximately Euro 3.3 million (the entire effect of IFRS9 is still positive for Euro 28.9 million), the increase of financial liabilities for Euro 3.7 million due to the accruing of interest expenses on debt, the decrease of financial liabilities to leasing companies of Euro 2 million and the increase of bank loans for approximately Euro 1 million for use of short term credit facilities .

"Other current financial assets" for the Company and Trevi Group includes an interest-bearing loan of Euro 10 million to MEIL Global Holdings BV, with three-year bullet repayment, provided on March 31st, 2020, deriving from the sale of the Oil & Gas Division to MEIL Group, (Reference: press release issued on the same date, available on www.trevifin.com, "Investor Relations / Press Releases" section). This loan, starting from April 1st , 2022, is classified in the current financial assets. It should be noted that to date, this loan has not yet been repaid by the counterparty.

Following to multiple payment reminders unanswered, the Company undertook the appropriate legal action at the competent Tribunal, for the recovery of the amount. In accordance to the contractual documentation and correspondence, the Company considers the amount recoverable.

B) Company and Trevi Group overdue payables, analysed by nature (financial, commercial, tax, social security and employees) and any related creditors' reaction initiatives (payment reminders, injunctions, suspensions of supplies, etc.)

Description (In thousands of Euro)	30/04/2024	30/04/2024
	Trevifin	Gruppo Trevi
Financial liabilities	-	-
Trade payables	1,823	32,240
Tax liabilities	-	-
Social security liabilities	-	-
Payables to employees	-	-
Total overdue liabilities	1,823	32,240

As of April 30 th , 2024, no reminders, or injunctions from suppliers, related to Trevifin and to the Trevi Group, and no situation of shortage of supplies.

C) Company and Trevi Group main variations in the transactions with related parties compared to the approved last annual or semi-annual financial report pursuant to Art.154 ter of TUF

As of April 30 th , 2024, Trevifin has financial and trade transactions mainly with its subsidiaries Trevi S.p.A. ("Trevi") and Soilmec S.p.A. ("Soilmec").

Financial and Trade Transactions

April 30 th , 2024

Description (In thousands of Euro)	Financial receivables	Financial payables	Trade receivables	Trade payables
Trevi S.p.A.	29,919	-	11,075	9,886
Soilmec S.p.A.	39,238	-	4,335	5,139
Other	565	19,929	16,243	2,454
TOTAL	69,722	19,929	31,653	17,478

December 31st , 2023

Description (In thousands of Euro)	Financial receivables	Financial payables	Trade receivables	Trade payables
Trevi S.p.A.	29,952	-	11,224	9,770
Soilmec S.p.A.	39,219	-	5,944	5,849
Other	561	19,420	12,243	3,488
TOTAL	69,732	19,420	29,410	19,108

Economic Transactions

4M 2024

Description (In thousands of Euro))	Revenues	Consumption	Financial	Financial
		and services	income	costs
Trevi S.p.A.	1,509	126	598	0
Soilmec S.p.A.	688	123	861	0
Other	2,743	4	0	117
TOTAL	4,940	252	1,460	117

12M 2023

Description (In thousands of Euro)	Revenues	Consumption and services	Financial income	Financial costs
Trevi S.p.A.	4,818	529	1,275	0
Soilmec S.p.A.	2,732	1,373	2,487	0
Other	8,490	0	100	15
TOTAL	16,041	1,903	3,863	15

As of April 30 th , 2024, Trevi Group has trade and financial receivables mainly with some related companies.

Financial and Trade Transactions

Financial receivables (In thousands of Euro)	30/04/2024	31/12/2023
Porto di Messina S.c.a.r.l.	716	716
Pescara Park S.r.l.	658	632
Overturning S.c.a.r.l	1,319	794
Altri	255	170
TOTAL	2,948	2,312

Trade receivables (In thousands of Euro)	30/04/2024	31/12/2023
Porto di Messina S.c.a.r.l.	1,046	1,007
Nuova Darsena S.c.a.r.l.	149	149
Trevi S.G.F. Inc. per Napoli	1,884	1,884
Italthai Trevi	148	144
Sep Trevi Sefi	89	89
Other	82	54
TOTAL	3,397	3,327

Trade payables (In thousands of Euro)	30/04/2024	31/12/2023
Filippella S.c.a.r.l. (in liquidazione)	228	270
Nuova Darsena S.c.a.r.l.	0	545
Porto di Messina S.c.a.r.l.	2,283	2,283
Trevi S.G.F. Inc. per Napoli	171	171
Overturning S.c.a.r.l.	916	256
Other	89	164
TOTAL	3,686	3,689

Economic Transactions

Revenues (In thousands of Euro)	4M 2024	12M 2023
Italthai Trevi	43	590
Nuova Darsena S.c.a.r.l.	962	0
Other	30	84
TOTAL	1,034	674

Operating costs (In thousands of Euro)	4M 2024	12M 2023
Overturning S,c,a,r,l,	659	1,510
Porto Messina S,c,a,r,l,	0	180
Nuova Darsena S,c,a,r,l,	0	372
Altri	0	308
TOTALE	659	2,370

Financial income (In thousands of Euro)	4M 2024	12M 2023
Hercules Foundation AB	0	0
Other	0	33
TOTAL	0	33

The C.F.O., Massimo Sala, in his position as the Director responsible for drawing up the Company's accounting statements, hereby declares, pursuant to Article 154-bis, paragraph 2 of the TUF, that the information contained in this press release accurately represents the figures contained in the Company's accounting records.

***

About Trevi Group:

Trevi Group is a worldwide leader in the field of soil engineering (special foundations, soil consolidation, recovery of polluted sites), in the design and marketing of specialized technologies in the sector. The Group was established in Cesena in 1957; it has around 65 companies and, with its dealers and distributors, is present in 90 countries. Internationalization, integration and the continuous exchange between its two divisions are among the reasons for the success of the Trevi Group: Trevi, which carries out special foundations and soil consolidation works for large infrastructure projects (subways, dams, ports and docks, bridges, railway and highway lines, industrial and civil buildings) and Soilmec, which designs, manufactures and markets machinery, systems and services for underground engineering.

The parent company Trevi – Finanziaria Industriale S.p.A. has been listed on the Milan stock exchange since July 1999. Trevifin is listed on Euronext Milan: TFIN.

For further information:

Investor Relations: Massimo Sala - e-mail: investorrelations@trevifin.com

Group Communications Office: Franco Cicognani - e-mail: fcicognani@trevifin.com - T. +39 0547 319503

Press Office: Mailander Srl - T. +39 011 5527311

Carlo Dotta – T. +39 3332306748 - c.dotta@mailander.it

Federico Unnia - T. +39 3357032646 – federico.unnia@libero.it