Maire S.p.A.

S.p.A. S.p.A. S.p.A. S.p.A. S.p.A.

Good afternoon, everybody, and thank you for joining my ExpressCup 2026 Financial Results Conference. My name is Silvia Guidi, and I'm the head of the Investor Relations Department. Today, I'm joined by Alessandro Bernini, CEO, Maria Novanti, CFO, and Fabio Piccarrelli, next-gen managing director. They will watch you through the operator lights of our business unit. followed by an overview of our financial results. At the end of the presentation, we will be happy to take your questions. Let me now hand over to Alessandro for some introductory remarks.

Thank you Silvia, and good afternoon everyone. The first half of 2026 once again highlighted the resilience of our business model amid the ongoing geopolitical tensions in the Middle East. Even in this challenging environment, which continues to be characterized by stringent safety protocols, project execution continued without major disruptions, reflecting the strength of our operating platform and the close cooperation with clients and subcontractors. Leveraging our ability to manage complexity across a diversified project backlog, we delivered solid financial results. Revenues reached €3.7 billion, and the EBITDA margin improved by 50 basis points to 7.2%, benefiting from the growing contribution of NEXT Chem's technology portfolio. In June, we also completed the acquisition of Alestra and ETEC, expanding our presence into inorganic chemistry for fertilizers and critical materials. Both companies will contribute to our P&L results starting from the third quarter. The solid operating and financial performance was complemented by a strong order intake of €7.2 billion in the first half of the year, corresponding to a book-to-bill ratio of 2, and leading to a group backlog of €16.3 billion, close to its all-time high. Including the contract secured in July, total EU awards have already reached €8.4 billion in the first seven months of the year. bringing us close to the 9.4 billion target we have set. This acceleration reflects stronger than expected demand backed by energy security and industrial resilience concerns across the board. Equally important, this commercial momentum is enabling us to expand our geographical footprint and enter new markets. In this respect, Argentina represents a significant milestone in our diversification journey. Through the Fertile Pampa project, we will deliver the largest urea plant in Latin America, combining Teclimon's execution capabilities with NETSCAN's proprietary technologies. This award further validates the strength of our integrated business model, and our ability to offer clients end-to-end solutions. Importantly, we are entering this new market with a geo-risk execution approach by focusing on our core engineering and procurement expertise while construction activities will be carried out by S.p.A., a leading Argentine contractor with extensive local experience. This first major contract creates a platform for future growth, positioning us to capture additional opportunities across the wider Latin American market. As our network continues to expand, strengthening our engineering capabilities remains a key priority. In the first six months of the year, we added around 500 professionals, strengthening our capabilities in fertilizers and in the chemistry of minerals and metals through the acquisition of our restaurant and the tech, while enhancing our LNG expertise through targeted hiring. At the same time, we reinforce our proximity to key growth markets with the opening of an exchange regime office Thank you Sandro and good afternoon everyone.