Tesmec S.p.A. (TSMCF) Q4 2025 Earnings Call Transcript

Operator

Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the Tesmec Group Full Year 2025 Results Conference Call. [Operator Instructions].

At this time, I would like to turn the conference over to Mr. Carlo Caccia Dominioni, CEO. Please go ahead, sir.

Carlo Caccia Dominioni

Thank you, and good morning, everyone, and thank you for joining the Tesmec conference call. We are presenting today the figures of 2025. That was a year of continuation along the path that we took in 2024 despite, we have to say, a complex macroeconomic environment. Before starting going into the details of the figures, I would like to give you a quick overview of the situation of Tesmec Group in 2025 for whom — for those where our presentation is Chart 9, the one-off highlights. I would like to, first of all, focus my attention on 3 key pillars that made — that characterize our 2025. First of all, we have to say the first pillar is the industrial strengthening of the group that came — they came after — thanks to the growth of 2 business, energy and rail, the 2 business segments. And also, we have to say that gave us also a better mix in terms of product portfolio and a solid and much more diversified compared to the past backlog of orders.

Second pillar of Tesmec 2025 was the financial strengthening of the group that came, I would say, thanks to 2 main direction, 2 main aspects. The first