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Trevi Fin Industriale

Investor Presentation • Aug 31, 2015

4302_10-k-afs_2015-08-31_a6092637-4bee-44d8-b624-13e311dde360.pdf

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2015 First Half Results

Ended 30thJune 2015

CONFERENCE CALL

Cesena31 August 2015

1. TREVI Group

  • 2. 1H 2015 Financial Results
  • 3. Q&A

4. Appendix

Special foundation services

€283,8m

Oil drilling rigs

€152,3m

1H15 Revenues

Special foundation rigs

€114,7m

Oil drilling services

€71,3m

Special foundation services

€283,8m

1H15 Revenues

Environment

Deep Foundations Tunnel Consolidation

Marine Works

Hydromills & Grabs

Microdrilling & Attachments

Special foundation rigs

€114,7m

1H15 Revenues

Cranes

Hydraulic Drilling Rigs

Mud Pumps

Drawworks

Oil drilling rigs

€152,3m

1H15 Revenues

Modular Offshore

AHEAD Rigs

CILE:1 RIG HH2201 RIG HH1022 WO HH102

Oil drilling services

€71,3m

7

Foundations Sector

1. TREVI Group

2. 1H 2015 Financial Results

3. Q&A

4. Appendix

Results Key Highlights

Impacted by a one-off event in a non favorable environment

•Drillmec's offshore rig contract generated extra costs

In the months of May, July and August extra costs were incurred in the delivery phase

•Marginality was strongly hindered given the extraordinary event

Costs increased noticeably during the delivery phases of the contract. Transportation costs surged during the installation phase and extreme efforts were carried out to deliver to the final client

•Over 1.17 billion Euro of solid backlog + 13%

The order backlog has registered good growth within key strategic geographical areas

• Net Financial Position improved vs 1Q15 showing cash flow generation

Net financial indebtedness improved notwithstanding the one-off event in Drillmec

Main discussion points

Market Environment

  • • Global construction trend very positive Euro +190 million of newly acquired contracts in the TREVI division in the Middle East and Africa
  • • Core business backlog sound and at an ever time high at 650 million Euro between TREVI and SOILMEC
  • • Oil prices very uncertain and still driving capex cut and pressure on supply chain
  • •Reduced visibility overall but there are still good opportunities in the pipeline
  • • Shallowoffshore market shows opportunities
  • • Order portfolio in the O&G stays strong at Euro 381 million and all extraordinary items have been taken into account

Drillmec's offshore contract – Details & Information

  • • The rigs are 2.000 HP and have been factory-made following the manufacturing criteria and custom engineering of the client.
  • • The project consisted of delivering highly customized rigs with capabilities to extract hydrocarbons on a continuing basis in the selected basin.
  • • The rigs will be installed on a fixed-platform and will operate at about 2.000-3.000 meters down under the ocean floor sediments from the Mexican coast.

The Drillmec Contract & its dynamics 1/5

•

Key actors

Drilling contractor Primary Oil Company

  • • To provide two offshore oil drilling rigs for a total value of 170 USD
  • • Subcontractors are used for the completionof the rigs

  • • Sets-up a specific division with a dedicated team for the offshore oil drilling rigs

  • Establishes a tender process for the supply of two offshore Modular rigs to be delivered on the platforms in the Gulf of Mexico.

  • • Main drilling contractor signs a contract the Oil company to rent for three years two platforms

A primary Oil Company, already a Drillmecclient, decides to revisit under the engineering stand point the concept initially introduced in the '70s to increase productivity, efficiency and performance; the MODUALR RIGS

•

The Drillmec Contract & its dynamics 2/5

15

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The Drillmec Contract & its dynamics 3/5

Key disclosures and timeframe. What happen at the end of contract?

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The Drillmec Contract & its dynamics 4/5

Contract main cost items

55 million USD (inefficiencies, transport , weather and other damages) 20 million USD (transaction costs and closing)20 million USD (contractors + change order ) 5 million USD (provisions)

The actions that are being taken next in Drillmec 5/5

  • 1. Due diligence proactively initiated internally in terms legal, technical and financial aspects
  • 2. Contractors recovering plan through negotiations
  • 3. Key restructuring aimed for timely improvement in Drillmec
  • 4. Strict attention to risk assessment while carrying out the processes
  • 5. Introduction of a dedicated key figure with proven experience in the BOD of Drillmec

Financial Highlights

Revenues

€601mEbit

€-104m

Backlog

€1.173m

Ebitda

€-49m

Net Result

€-128m

Net Financial Position

€464m

Group's Divisions Overlook

  • •Solid order backlog
  • • Very strong order intake in areas such as the Middle East, United States and North Africa Increased the already long term visibility (highest portfolio of the past 3 quarters at 580m Euro)
  • • New contracts initiated during the first half and expected increased growth in the second half
  • •Greater demand for marine, transportation and metro works
  • •Infrastructure sector improving and wider international reach
  • •Private development building activities reaching strong momentum
  • •+14% of revenue increase with respect to the previous year
  • • Notwithstanding the contraction in the Italian market the US, UK & France performed well
  • • Quarterly order intake continues to register growth (74m Euro in 2Q15, 56m Euro in 1Q15 vs 46m Euro in 4Q14)
  • • Increased demand for classic «Rotary» rigs, good performance for micro piling and cranes

Group's Divisions Overlook

•Over 380 million Euro of backlog as of June 30th 2015

• Following the offshore contract's negative dynamics improvement action are being undertaken to reestablish normalization

  • •Recently acquired contracts embrace better and predictable payment terms
  • •Rationalization of existing production sites and cost reduction
  • • Partnership development in the medium to long term strategic geographical areas
  • • A fewer number of rigs are currently operating
  • •Ongoing negotiations currently in the process relating to a niche market
  • •Marginality challenged by more uncertain environment
  • •Negotiating rates with some clients

At a corporate level

  • • Decisive actions in the organizational structure with the introduction of a Central Manager within the holding company and strengthening of the risk control functions within the single divisions
  • •Great focus on Cash Generation at all levels and divisions
    • • Very sound Debt /Equity ratio persists notwithstanding the loss in 1H15
    • •Great execution and track record in completing projects with success
    • •Maintain, develop and strengthen the know-how and key differentiating skills

Financial Highlights 1H15 yoy

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Net Financial Position

Foundations Sector

29

Based on non Consolidated Data

The GroupBreakdown per Geographical Area

Middle East: Contribution from this area has significantly improved with respect to the previous years. Infrastructural & Residential projects are key and drive the growth

USA: Attractive North American market with major indicators proving for sustainable growth

Latin America: High degree of business is being brought forward both in the construction and oil & gas fields. Significant opportunities for growth

TREVI special foundation

Trevi was awarded to install jet grout columns as part of the marine mud wave below the reclamation works of the project of Hong Kong-Zhuhau-Macau Bridge

TREVI performing Slurry Walls

TREVI is carrying out works for ground improvement and the realization of slurry walls

TREVI BluewatersProject in Dubai

Located off the Jumeirah Beach Residence coastline 10 Soilmecmachines are executing more than 3,000 piles needed for the foundations of residential areas

TREVI for "Ocean Reef"

TREVI Panama has made micropiles on the front left of one of the two islands of Ocean Reef, a project which involves the construction of a prestigious residential complex. The piles are preparatory for the construction of the bridge that will connect the two islands. (the first of 103,251 square meters and the second of 87,550.

TREVI special foundationworks for the most importantbridge under construction inKuwait

TREVI is carrying out works for the construction of a bridge betweenShuwaikh Port (Ghazali St.) and SubiyahNew Town.

Special foundatinon works for the a road that stretches for 37 km.

Strategic road way in Florida

SR83/US 331 is a primary North/South roadway in Walton County (Florida) that is a crucial link for tourism and commerce and also serve as the primary hurricane evacuation route. TREVIICOS was assigned one of the major goals with a 3.4 miles stretch of soil mixing.

SR-75 at work

Displacement of piles at 30,5 meters of depth.

New Soilmec Products

The new Soilmec SR-45 rig opens new perspectives on the hydraulic drills market. The basic rig has been completely redesigned in order to offer greater comfort and safety on site. Casing are entirely covered with sound damping and absorbing material.

Soilmec machines at work

New Soilmec Rotary head RD-250

The the RD-250 from Soilmec has been lightened weighing only 5 tons complete with cradle and resized guaranteeing lower force losses.

1 X HH300 Offshore Rig

Drillmec signed a contract for the supply of an automatic hydraulic model HH300 offshore with SOCAR-AQS.

The rig will be installed on a fixed platform in the offshore region of Absheron West.

This contract is for Drillmec the opening of a new market of great interest when considering the abundance of resources and the wide availability of investments.

ORDERS IN THE OIL & GAS SECTOR TOTALING ABOUT 280 MILLION USD

Five 2000hp AC rigs and two 3000HP rigs with ENAFOR, an Algerian leading drilling services company and acting on behalf of SONATRACH, the national oil company and largest African operator.

Two rigs of 2000hp AC HSL (Hydraulic Swing Lift) with one of the largest drilling contractors operating in Saudi Arabia. The Saudi company has operated for more than 50 years in the industry and has an important role in the expansion program of Saudi Aramco, the leading oil company in the country and world leader in proven reserves.

OTC 2015 in Houston

Always present Drillmec was in Houston and the event registered the 6th largest attendance rate with over 94,700 people from 130 countries.

104 wells in Chile with CNPC

Petreven Chile signed with CNPC China National Petroleum Corporation a contract for 104 wells to be carried out in the town of El Alto

1. TREVI Group

2. 1H 2015 Financial Results

3. Q&A

4. Appendix

Statement of Financial Position 1H15 vs 1H14

E
0
0
0
r
u		 1
H
1
5		 1
H
1
4		 ∆
%
T
O
T
A
L
R
E
V
E
N
U
E
S		 6
0
1,
1
1
4		 9
5
5
7,
5
7		 7.
7
%
C
f
f
f
h
i
i
i
i
i
h
d
d
i-
i
i
h
d
d
t
t
a
n
g
e
s
n
n
e
n
o
r
e
s
o
n
s
e
a
n
s
e
m
n
s
e
p
r
o
c
s
v
u		 1
3,
1
3
2		 (
1,
1
0
6
)
I
i
f
i
d
f
i
l
t
t
n
c
r
e
a
s
e
n
x
e
a
s
s
e
s
o
r
n
e
r
n
a
u
s
e		 1
3,
2
4
2		 1
0,
0
5
9
O
h
d
i
i
t
t
e
r
n
o
n-
o
r
n
a
r
o
p
e
r
a
n
g
r
e
e
n
e
s
y
v
u		 0 0
V
A
L
U
E
O
F
P
R
O
D
U
C
T
I
O
N		 6
2
7,
4
8
8		 5
6
6,
9
1
0		 1
0.
7
%
R
i
l
d
l
i
t
t
a
m
a
e
r
a
s
a
n
e
e
r
n
a
s
e
r
c
e
s
w
x
v		 5
3
6,
2
5
3		 3
8
1,
8
9
0
O
h
i
t
t
t
e
r
o
p
e
r
a
n
g
c
o
s
s		 8,
5
6
7		 7,
8
5
0
V
A
L
U
E
A
D
D
E
D		 8
2,
6
6
8		 1
7
7,
1
7
0		 -5
3.
3
%
P
l
e
r
s
o
n
n
e
e
x
p
e
n
s
e
s		 1
3
1,
4
2
8		 1
1
2,
5
4
1
E
B
I
T
D
A		 (
4
8,
7
6
0
)		 6
4,
6
2
9		 -1
7
5.
4
%
%
T
l
R
t
o
a
e
e
n
e
s
v
u		 -8
1
%		 1
1.
6
%
D
i
i
t
e
p
r
e
c
a
o
n		 3
0,
1
5
9		 2
7,
5
4
6
P
i
i
d
i
d
t
r
o
s
o
n
s
a
n
r
e-
o
n
s
v
w
w		 2
5,
5
5
2		 1,
4
0
0
E
B
I
T		 (
0
)
1
4,
4
7
1		 3
6
8
3
5,		 3
9
2.
8
%
-
%
T
l
R
t
o
a
e
v
e
n
u
e
s		 -1
7.
4
%		 6.
4
%
F
i
i
l
/
(
)
n
a
n
c
a
r
e
e
n
e
s
e
p
e
n
s
e
s
v
u
x		 (
)
1
2,
9
5
4		 (
)
1
6,
1
7
9
G
i
/
(
L
)
h
t
a
n
s
o
s
s
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s
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n
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x
c
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n
g
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r
a
e
s		 (
)
7,
0
0
6		 (
)
3,
9
9
3
O
G
h
i
/
(
L
)
t
e
r
a
n
s
o
s
s
e
s		 0 1,
6
4
3
E
B
T		 (
2
3
)
1
4,
4
1		 1
7,
1
5
4		 8
2
5.
4
%
-
T
a
x		 4,
8
3
6		 4,
4
1
1
M
i
i
i
t
n
o
r
e
s		 (
)
1,
1
7
8		 8,
1
7
6
G
R
O
U
P
N
E
T
P
R
O
F
I
T		 (
1
2
8,
0
8
9
)		 4,
5
6
5		 N
/
A

Income Statement 1H15 vs 1H14

E
0
0
0
u
r		 H
1
1
5		 H
1
1
4		 ∆
%
F
i
d
t
x
e
a
s
s
e
s
T
i
b
l
f
i
d
t
a
n
g
e
e
a
s
s
e
s
x
-		 3
9
5,
4
0
5		 3
5
3,
0
7
3
I
i
b
l
f
i
d
t
t
n
a
n
g
e
x
e
a
s
s
e
s
-		 8
7,
4
3
4		 5
4,
4
3
8
F
i
i
l
f
i
d
t
n
a
n
c
a
e
a
s
s
e
s
x
-		 6,
6
3
9		 6,
8
1
0
N
k
i
i
l
t
t
e
w
o
r
n
g
c
a
p
a
I
i
t
n
e
n
o
r
e
s
v
-		 6
0
8,
1
1
2		 6
1
0,
4
4
0
T
d
i
b
l
r
a
e
r
e
c
e
v
a
e
s
-		 4
4
3,
6
1
4		 3
5
6,
4
4
9
T
d
b
l
(
-)
r
a
e
p
a
a
e
s
y
-		 (
3
5
4,
3
5
5
)		 (
2
6
9,
8
7
0
)
P
(
-)
t
r
e-
p
a
y
m
e
n
s
-		 (
)
2
0
1,
0
1
8		 (
)
1
7
3,
6
7
4
O
h
(
l
i
b
i
l
i
i
)
t
t
t
e
r
a
s
s
e
s
a
e
s
-		 5
8,
1
9
8		 4
1,
5
2
4
F
i
d
l
k
i
i
l
t
t
t
e
a
s
s
e
s
p
s
n
e
o
r
n
g
c
a
p
a
x
u
w		 1,
0
4
4,
0
2
9		 9
7
9,
1
8
9		 6.
6
%
P
l
b
f
i
(
)
t-
t
t
o
s
e
m
p
o
y
m
e
n
e
n
e
s
-		 (
2
1,
5
4
3
)		 (
2
1,
5
0
7
)
N
E
T
I
N
V
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S
T
E
D
C
A
P
I
T
A
L		 0
2
2,
8
6
1,
4		 9
6
8
2
5
7,		 6.
8
%
F
i
d
b
n
a
n
c
e
y
:
G
h
h
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d
'
f
d
t
r
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p
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s
a
r
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r
s
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s		 5
4
4,
1
3
7		 3
9
9,
3
3
3
M
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f
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d
'
'
t
t
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s
a
r
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a
r
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r
s
u
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s		 1
3,
8
7
8		 2
3,
6
1
3
T
l
f
i
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l
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d
b
d
t
t
o
a
n
a
n
c
a
n
e
e
n
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s
s		 4
6
4,
4
7
1		 5
3
4,
7
3
6
T
O
T
A
L
S
O
U
R
C
E
S
O
F
F
I
N
A
N
C
I
N
G		 0
2
2,
8
6
1,
4		 9
6
8
2
5
7,		 6.
8
%

1. TREVI Group

  • 2. 1H 2015 Financial Results
  • 3. Q&A

4. Appendix

The GroupCompany Facts

  • •Ownership: 51%*
  • •Market: 49%
  • •Established: 1957
  • •Listed: 1999
  • • Value Proposition: Fully integrated Special Foundation Services and Oil & Gas Company

*Includes FSI

172

Dams worldwide

1st

Oil & Gas Rig manufacturer in Europe

50

Metros in world

12%

EBITDA margin 14 year average

Main projects US Army Corps

6

62Marine Projects in the world

The Group

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s

Track Record of Growth and Excellence

Revenues

52

Track Record of Growth and Excellence

Disclaimer

The Executive in charge of the preparation of accounting documents "Daniele Forti" declares, pursuant to paragraph 2 of article 154-bis of the consolidated law on finance, that the accounting information contained in this presentation corresponds to the document results, books and accounting records.

This presentation, prepared by TREVI – Finanziaria Industriale SpA, contains forward looking information and statements about the group and in no case may it be interpreted as an offer or an invitation to sell or purchase any security issued by the company or its subsidiaries.

These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations to future operations, products and services, and statements regarding future performance.

Forward looking statements involve inherent risks and uncertainties are current only at the date they are made.

However, the management of TREVI – Finanziaria Industriale SpA believes that the expectations are reasonable, but, at the same time, points out to holders and investors that all the information and all the statements are subject to various risk and many of which are very difficult to predict and to control.

TREVI – Finanziaria Industriale SpA does not undertake any obligation to update forward looking statements to reflect any changes in own expectations with regard thereto or any changes in events.

Investor Relations Team:

Stefano CampanaJosef Mastragostino

investorrelations@ trevifin.com

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