The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Andrea Randone - Intermonte SIM SpA - Analyst
: Good afternoon and thanks for taking my questions. I have two questions. I mean, in this quarter, SeSa posted growing numbers compared to one
year ago, but still reported numbers were a bit lower than previous indications.
Can you help us in understanding what were the business areas performing slightly below expectations and what driven the gap in the quarterly
cash flow? This is the first.
The second question is forward-looking, so what are current market conditions? And how was your performance in May and June so far? Are you
on track with full year guidance? Thank you.
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JULY 17, 2025 / 2:00PM, SES.MI - Q4 2025 Sesa SpA Earnings Call
Question: Andrea Randone - Intermonte SIM SpA - Analyst
: Thank you very much.
Question: Andrea Randone - Intermonte SIM SpA - Analyst
: So I see there is time for another question. I'd like to ask you about the Business Services and also the Software and System Integration, I mean, in
these two segments, usually, you have a quite good visibility. So if you can comment on what are the main projects that you are, I mean, expecting
for this year.
And so something that can support the guidance you have just provided more in, I mean, qualitative terms about clients and sectors, products, or
something like that. Thank you.
Question: Andrea Randone - Intermonte SIM SpA - Analyst
: Thank you again.
Question: Guido Crivellaro - Eurizon - Analyst
: Good afternoon. May I ask you to give us a detail -- we have seen a decrease in the net financial position of about EUR50 million to EUR70 million
depends on IFRS or not. I've not understood exactly the different voices that has impacted the net financial position. The CapEx, what has been
spent for M&A, the impact of the working capital. May I ask you to give a breakdown of the different voices? Thank you.
Question: Simon Bentlage - Discover Capital - Analyst
: I would just like to clarify on the EUR80 million of investments that you are planning down from EUR150 million, I think, in the past. How does this
split into CapEx and sort of investments into M&A?
Question: Simon Bentlage - Discover Capital - Analyst
: Understood. Thank you.
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