Ordinary and Extraordinary Annual Shreholders Meeting April 24th 2014 Abridged Version
Group overview Vianini Lavori is one of the main Italian General Contractors and it operates in the large infrastructure, water and highways concessions industries. The Group has always operated around the world and in the last few years it has focused its business in Italy adding to the traditional civil engineering activity the water and highways concessions business in strategic sectors. Large construction projects Subway Line C - Rome Subway Line B - Rome Subway Naples Livorno-Civitavecchia Highway Concessions SAT 24.9 % Acqua Campania Grandi Stazioni 47.9 % 13.08 % (1) Strategic investments Cementir Holding 25.5 % Generali 0.07% ACEA 7.9% Turin rail link 1. Indirectly owned through 32.7% of Eurostazioni SpA, which owns 40% of Grandi Stazioni SpA 2
Strategic drivers Growth in core business Focus on core construction business where the Group boasts a well-established experience and a solid track record especially in large infrastructure projects (Rome Subway Line C, Rome Subway Line B, highways and tunnels, SAT) Profitability improvement Selective approach in new projects tendering in order to maximize profitability whilst minimizing associated risk New organizational structure New organization to support strategic growth objectives both domestically and abroad Geographic and portfolio diversification Seeking opportunities in new potential ti markets where other Group companies are presents (Turkey) and in other areas considered of strategic interest 3
Core business Order Backlog The order backlog at December 31, 2013 is equal to 1.7 billion, of which main projects are: Livorno Civitavecchia Highway (39% of total) Subway Line C of Rome (22% of total) Subway Line B of Rome (11% of total) Order Backlog as of 31/12/2013 million Livorno Civitavecchia Highway 690,1 Rome Metro C 365,6 Rome Metro B Extension 183,7 Eur M PortafoglioLavori Order Backlog at 31/12/2012 Eur M euro Milioni 1909 1796 1658 Highways A1 Variante di Valico 27,7 Metro Naples 28,9 824 Residential Construction 285,8 Other 76,4 Total 1.658 2010 2011 2012 2013 4
Core Business Metro C - Rome General Contracting Project worth over 3 billion Construction of 25,5 km of subway lines and 30 stations around 30 meters below ground 30 fully automated trains and 1.200 passenger capacity 70% financed by State, 18% by Rome municipality and 12% by Lazio Region 5
Core business Highway Concessions: SAT Vianini Lavori has a 24.89% stake in Società Autostrada Tirrenica (SAT), which owns the construction and concession of A12 Livorno Civitavecchia Highway Livorno - San Pietro in Palazzi, Highway (around 40 Km), first trunk of Livorno Civitavecchia, is already in operation The remaining trunk Rosignano - Civitavecchia (around 242 Km) is under construction and requires investments of around 700m over 5 years (Vianini Lavori share) This investment t is an important t first step in the strategic development of the highway concessions sector 6
Income statement highlights In 2013 all economic KPIs improved, as well as associates contribution Euro (000) 2013 2012 Operating Revenues 176.211 211.664 EBITDA 9.104 3.504 EBITDA Margin 5.2% 1,6% D&A 5 402 EBIT 9.109 3.906 EBIT Margin 5,2% 1,8% Associates 13.486 6.429 Net Financial Result (6.918) (2.947) Pretax 15.677 7.388 Taxes (2.167) (1.064) Net Income 17.844 6.324 Net Income/Operating Revenues 10,1% 2,9% 7
Net Financial Position and Book Value Financial strength is one of Vianini Lavori s main features Posizione Finanziaria Netta Net Financial Position - EUR M Patrimonio Book Value Netto - EUR M 485.4 523.8 576.1 559.7 571.3 614.5 614.0 549.1 554.8 404.7 424.44 128.9 197.1 235.9 178.4 129.2 57.4 64.2 57.5 70.2 20.9 30.9 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 8
Core Business Concessions Stake: 47.9 % Euro (000) 2009 2010 2011 2012 Revenues 47.019 50.375 57.230 58.349 Ebit 4.7006 5.009 4.262 1.634 Net Income 3.209 4.795 2.884 2.311 Book Value 10.143 11.869 10.051 9.491 Stake : 13.08 % Euro (000) 2009 2010 2011 2012 Revenues 206.336 191.577 198.933 196.378 Ebit 50.885 35.237 53.948 36.235 Net Income 39.561 19.438 30.700 19.797 Book Value 131.446 137.111 148.666 149.655 9
Disclaimer This document has been prepared by Vianini Lavori S.p.A. for information purposes only and it is not intended as an offer or solicitation of an offer to purchase or sell any financial instrument. This presentation is being distributed to professional investors only and should not be reproduced, redistributed or published in whole or in part. For any further information please contact our Investor Relations Office: Tel. +39 06-3249321 E-mail: invrel@caltagironegroup.it 10
Ordinary and Extraordinary Annual Shareholders Meeting April 24th 2014 Abridged version