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El.En. Investor Presentation 2025
4393_rns_2025-11-18_0ba7bdef-d190-46b3-ac94-90cc7bdf4d28.pdf
Investor Presentation
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COMPANY PRESENTATION
IntermonteEuropean MidCap Conference
Virtual
November 19th, 2025
Certain statements in this slide show, including those addressing the Company's beliefs, plans, objectives, estimates or expectations of possible future results or events, are forward-looking statements. Forward-looking statements involve known or unknown risks, including general economic and business conditions, and conditions in the industry we operate and may be affected should our assumptions turn out to be inaccurate. Consequently, noforward-looking statement can be guaranteed and actual future results, performance, or achievements may vary materially from those expressed or implied by such forward-looking statements. The Company undertakes noobligation about the contents nor to update the forward-looking statements to reflect events or circumstances that may arise after the date hereof.
- 1. Overview
- 2. Markets and Growth Drivers
- 3. Our Strategy and Market Approach
- 4. Financial Highlights
- 5. Current Outlook
- 6. Multiples & Comparables
A PRIMARY PLAYER PROVIDING MEDICAL,INDUSTRIAL AND CONSERVATION LASER SOLUTIONS WORLDWIDE
World Class Hi-Tech company
Hi-Tech industrial group providing laser solutions with proprietary technologies and know how developed over 40 years
Listed on Euronext STAR Milan of Italian Stock Exchange since year 2000 and member of Euronext Tech Leaders
Within Worldwide leaders in its space
Active worldwide on several laser application segments andmarkets…
…progressively widening its globalwide presence achieving continuous growth over the years
OUR APPROACH
40
YEARS OF EXPERIENCE
25
SUBSIDIARIES
9
COUNTRIES WITH DIRECT PRESENCE
9
PLANTS
WE CREATE LIGHT, ENERGY, WAVES
MEDICAL
Our energy based systems improve people's well-being and life quality.
In the SURGICAL SECTOR, our minimally invasive technology systems minimize pain, side effects and risks of surgical procedures and hospitalization days.
In the AESTHETIC SECTOR, our systems satisfy the growing desire of individuals to improve their appearance also reducing pathological or painful imperfections.
INDUSTRIAL
Our LASER CUTTING and MARKING SYSTEMS Improve the productivity of our customers manufacturing plants also limiting the environmental impact of manufacturing processes minimizing waste, fumes generated by the process, use of chemical additives, and allowing to eliminate the need for inks, solvents or glues within the process.
CONSERVATION
Our LASER SYSTEMS PRESERVE artworks of the universal heritage of our communities.
EthiFinance
ESG ratings
OUR APPROACH
MSCI ESG RATINGS
Sustainalytics
OUR STRATEGY FOR A SUSTAINABLE FUTURE:
Create value over time and be ready to successfully meet the future challenges
R&D
5 R&D dept
15 MLN
Yearly R&D investments
30 Patents
120 R&D specialists
PRODUCTS
60.000
Laser sources installed worldwide
ISO 9001 e ISO 13485
Certifications
ISO 14064
El.En., Deka Mela and Quanta
50 Quality & Regulatory specialists
PEOPLE
~18% under 30 years
>1.400 employees
33% of employees have a university degree and over 90% hold either a degree or a high school diploma.
WELFARE at the heart of business projects.
Workspaces were renewed for several Group companies: employees well-being was increased and plants'energy efficiency as well
24.000 HOURS
Training
ENVIRONMENT
7 Photovoltaic systems active in 2024
2 Photovoltaic plants in progress
16%
Self-produced electrical energy share of the annual total consumption
39%
Annual electricity consumption comes from renewable sources
All data refers to the Group without Chinese divi
Pigmented lesions
Antiaging/Pigmented lesions
Compact sheet metal cutting system
MINIMALLY INVASIVE SURGERIES:
- •Lower risks and side effects
- •Faster recovery /Shorter hospital stays
- •Savings by Private & National Health Systems
- •Attractive ROI for surgical services providers
- •Rapidly Growing Urology laser market
- •Consumables revenue stream in Urology
MEDICAL AESTHETICS MARKET TRENDS
- • Aging demographics and increasing focus on improving appearance and youthfulness
- • Cosmetic procedures as preventive measures for and to slow down the aging process
- • Growing interest in non-invasive or minimally invasive procedures and awareness of energybased aesthetic treatments
- • Reduction in procedure costs, attracting a broader patient base
- • Aesthetic procedures becoming part of lifestyle and increasingly part of people's wellbeing
- •Rapid growth expected
MARKET RESEARCHES GROWTH ESTIMATES
GLOBAL MEDICAL LASER MARKET
| • | Mordor Intelligence | CAGR 13,4% to 2028 |
|---|---|---|
| • | Fortune business insights | CAGR 13,1% to 2030 |
| • | Global Market Insights | CAGR 14,5% to 2032 |
| • | Research and Markets | CAGR 13,2% to 2030 |
With an estimated market size of $\approx$ \$5 Bln in 2021 including:
- Ophthalmology Dermatology Aesthetics- Dentistry
- Surgical -Gynecology Urology Cardiovascular
AESTHETIC LASER AND ENERGY DEVICES MARKET
Research and Markets
CAGR 9,45% 2023- 2028
\$ 3,7Bn 2023 Market Size
Tecnavio CAGR 10,9% 2023- 2028
\$3,9Bn 2023 Market Size
Laser cutting applications:
- • Laser power increase + Cost reduction: enhanced flexibility, productivity and quality standards in manufacturing processes.
- •Automation for increased productivity
- •New application verticals
- •Building and construction
Laser marking:
- •Products identification and traceability
- •Minimal environmental impact
Laser processing market:
•Size: \$17,48 billion in 2021
•Expected CAGR to 2030: 9,1%
Source: Grand view research
Technical Knowledge
Electronics
Optics
Photonics
Mechanics
Fluid dynamics
Power electronics
Software
LASER
Application Expertise
Aesthetics
Surgery
Dermatology
Physiotherapy
Art Conservation
- •Flexibility
- •Speed
- •Power
- •Precision
- •Selectivity
- •Effectiveness
MID-TERM STRATEGIC VISION BASED ON:
- • Continuous investment in R&D: maintaining the unmatched wideness of our product range by innovating existing technologies and developing new ones
- •Cooperation with primary research institutions and KOL'S
- • Excellent coverage of the target markets based on the widespread and loyal distribution network created over the years
- • Focus on innovative products release, technical support and continuous training to our customers
- Unique Multi brand approach
Physiotherapy
WIDE RANGE OF PRODUCTS IN MEDICAL SECTOR20
Hair removal Tattoo removal & Pigmented lesions
Body Contouring
Skin Rejuvenation
Surgery
Dermatology
Art Conservation
Innovative
- gentle and
painful
User friendly
LINEAR CUBE
| Teleborsa: |
|---|
| distribution |
| and |
| and commercial |
| use |
| strictly |
| prohibite |
| Euro '000 | 30/09/2024 | % | 30/09/2025 | % | Var. % |
|---|---|---|---|---|---|
| unaudited | unaudited | ||||
| Medical | 294.013 | 72,4% | 307.537 | 72,9% | 4,6% |
| Industrial | 112.219 | 27,6% | 114.394 | 27,1% | 1,9% |
| Revenues | 406.232 | 100,0% | 421.931 | 100,0% | 3,9% |
| Gross margin | 176.928 | 43,6% | 188.342 | 44,6% | 6,5% |
| Operating Expenses | 39.445 | 9,7% | 44.550 | 10,6% | 12,9% |
| Staff espenses | 71.561 | 17,6% | 78.155 | 18,5% | 9,2% |
| EBITDA | 65.922 | 16,2% | 65.637 | 15,6% | -0,4% |
| Depr., amort., accruals | 9.025 | 2,2% | 10.602 | 2,5% | 17,5% |
| EBIT | 56.896 | 14,0% | 55.035 | 13,0% | -3,3% |
| Net financ.income(charges) | (693) | -0,2% | (1.778) | -0,4% | 156,5% |
| Other income (expense) net | 5.024 | 1,2% | (1.078) | -0,3% | |
| EBT | 61.228 | 15,1% | 52.180 | 12,4% | -14,8% |
| 31/12/24 | 30/09/25 unaudited |
||||
| Net financial position | 110.559 | 137.399 |
| Euro '000 | 2024-Q3 | % | 2025-Q3 | % | Var. % |
|---|---|---|---|---|---|
| unaudited | unaudited | ||||
| Revenues | 134.761 | 100,0% | 136.595 | 100,0% | 1,4% |
| Gross margin | 57.097 | 42,4% | 62.131 | 45,5% | 8,8% |
| Operating Expenses | 11.327 | 8,4% | 13.607 | 10,0% | 20,1% |
| Staff espenses | 23.227 | 17,2% | 25.110 | 18,4% | 8,1% |
| EBITDA | 22.543 | 16,7% | 23.414 | 17,1% | 3,9% |
| Depr., amort., accruals | 2.910 | 2,2% | 3.027 | 2,2% | 4,0% |
| EBIT | 19.632 | 14,6% | 20.387 | 14,9% | 3,8% |
| Net financ.income(charges) | (723) | -0,5% | 884 | 0,6% | |
| Other income (expense) net | 24 | 0,0% | (817) | -0,6% | |
| EBT | 18.933 | 14,0% | 20.454 | 15,0% | 8,0% |
| _ | - |
certified
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* Nopat =Ebit-Income tax
**D&A= Depreciation, Accruals and Devaluation
***NWC= Net Working Capital
Industrial: +2%
in Euro million
Medical: +5%
in Euro million
Revenues 2025 > Revenues 2024
EBIT 2025 > EBIT 2024
| Stockholder's Equity per share | 5,2 |
|---|---|
| Price / Book Value Adj. | 2,1 |
| EV /EBIT (95% EBIT) | 10,7 |
| EV / Sales (95% Sales) | 1,4 |
| El.En. Market Cap. | 890,6 @ €11,10 |
|---|---|
| Net financial position | 137,4 @ 30/09/2025 |
| Financial investments m/l term | 10,7 @ 30/09/2025 |
| Enterprise Value | 742,5 |
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(1) EV and multiplies as for previous slide
(2) Financials @ 30.06.25
(*) Revenue,Ebit and earnings annualized
CONTACTS
El.En. S.P.A.
Enrico RomagnoliInvestor Relations Managertel. +39 055-8826807
E-mail: [email protected]
POLYTEMS HIR
Financial Communication, IR and Press OfficeBianca Fersini Mastelloni - [email protected] Silvia Marongiu - [email protected] Tel. +39 06-69923324
