Somec SPA

Regulatory Filings • Jan 31, 2025

SOMEC: NEW NAVAL GLAZING ORDERS WORTH 35 MILLION EURO

Oscar Marchetto, Chairman: "The Cruise market is constantly evolving. Thanks to the expertise we have acquired we are able to respond to the ever more sophisticated needs of shipyards and shipowners. The positive signals coming from the market are backed up by early incoming data on Group results for 2024. In fact, the goals set for last year are being not only achieved, but in some cases exceeded, with regard in particular to cash generation and debt reduction"

San Vendemiano (Treviso), 31 January 2025 – Somec S.p.A. (Euronext Milan: SOM), specialising in the design, production and installation of complex turnkey civil and naval projects, has announced new orders for its Horizons - Engineered Systems for Naval Architecture and Building Façades - business unit, with contracts totalling 35 million Euro, of which 20 million Euro under option.

These contracts extend agreements already signed by the company and partly communicated to the market on 20 December 2024 (see the related press release).

The most significant of these orders concerns the construction of three cruise ships at a leading Finnish shipyard, commissioned by a well-known international shipowner. The Horizons BU will in particular be responsible for constructing and supplying all cabin glazing, including sliding doors, the new motorized vertical opening system for the Infinity Cabin, with incorporated curtains, and windows fitted with innovative sun-shielding elements.

The ships are scheduled to be delivered from June 2027 to mid-2029.

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, has commented: "I am very pleased to see that our Group, and our Horizons division in particular, continues to enjoy the trust of some of Europe's biggest shipyards, recognizing our constant commitment to excellence and innovation. This further show of esteem is not only a source of pride, it substantiates the role played by Somec in an industry that offers more and more challenges and opportunities. The Cruise market is indeed constantly evolving. Thanks to the expertise we have acquired and our ability to meet the highest quality standards, together with a continuous search for cutting-edge technological solutions, we are able to respond to the ever more sophisticated needs of shipyards and shipowners. The positive signals coming from the market are backed up by early incoming data on Group results for 2024. In fact, the goals set for last year are being not only achieved, but in some cases exceeded, with regard in particular to cash generation and debt reduction".

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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.

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.

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.

Contact info

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