Somec SPA

Business and Financial Review • Dec 20, 2024

SOMEC: NEW CONTRACTS AWARDED IN NAVAL GLAZING WORTH OVER 65 MILLION EURO

The contracts, entered into with three leading European shipyards, cover the construction of seven cruise ships for four different ship owners.

Oscar Marchetto, Chairman: "Following the award of these new contracts, the order intake reported for the last quarter of the year alone exceeds 148 million Euro, as our Group is set to develop many challenging and innovative projects in both the naval and civil sectors."

San Vendemiano (Treviso), 20 December 2024 – Somec S.p.A. (Euronext Milan: SOM), specialising in the design, production and installation of complex turnkey civil and naval projects, has announced that the Horizons, Engineered Systems for Naval Architecture and Building Façades business unit has won major contracts totalling 65.5 million Euro, of which 16 million Euro under option.

The contracts, entered into with three leading European shipyards, located in Finland, Germany and Italy, respectively, cover seven newly built cruise ships, two of which are under option.

Specifically, the Horizons business unit will supply the balcony system on a turnkey basis, the package consisting of cabin windows, doors and vertical sliding components, and the glazing on the upper decks of the bow with special windscreens. It will also supply newly developed sliding doors and windows featuring high performance in terms of mechanical resistance and thermal insulation, while ensuring compliance with the industry's highest innovation and sustainability standards.

The ships are scheduled to be delivered from June 2027 until mid-2030.

These orders will bear their effect on income between the second half of 2025 and the first half of 2029.

Oscar Marchetto, Chairman of the Somec Group, pointed out: "These important contracts from major European shipyards once again bear out the dynamic phase that the cruise market is experiencing. Following the award of these new contracts, the order intake reported for the last quarter of the year alone exceeds 148 million Euro, as our Group is set to develop many challenging and innovative projects in both the naval and civil sectors. I would like to thank our team for the remarkable expertise they demonstrate on a daily basis and for their commitment to providing solutions based on high quality standards and reliable service."

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Somec

The Somec Group specializes in the engineering, design and deployment of complex turnkey projects in the civil and naval sectors, operating through three Business Units: Horizons: Engineered Systems for Naval Architecture and Building Façades; Talenta: Professional Kitchen Systems and Products; and Mestieri: Design and Production of Bespoke Interiors. The Group's companies operate in an integrated and synergistic way, according to strict quality and safety standards and guaranteeing a high degree of customization and specific know-how on the processing of different materials, which is a fundamental requirement in high value-added projects.

Headquartered in San Vendemiano, Treviso, the Group is present in 12 countries and 3 continents, employing about 1,000 people and with revenues of 371 million Euro in 2023.

In over 40 years of history and by relying on rigorous certification and accreditation processes, Somec has achieved a reputation for quality and operational and financial reliability on a global scale.

Contacts

Press office: Investor Relations: Thanai Communication Advisors TWIN Thanai Bernardini Mara Di Giorgio | +39 335 7737417 me@thanai.it | + 39 335 7245418 Alessandra Capuzzo | +39 333 5461162 Alessandro Bozzi Valenti somec@twin.services alessandro.valenti@thanai.it | + 39 348 0090866 Elisa Toma elisa.toma@thanai.it | + 39 320 2840704