April 2023

Our group experienced strong growth in 2022, and the outlook for 2023 remains encouraging despite a concerning global economic environment marked by geopolitical and inflationary risks. We plan to improve our profitability and efficiency in Europe by making significant industrial investments.

Outside of Europe, we also foresee positive prospects thanks to recent developments achieved through external growth operations, particularly in the Oil & Gas sector.

Regarding the real estate sector, after the recent investment in a project in Levallois-Perret, we are waiting for market stabilization and remain open to interesting opportunities that may arise due to rising rates and the expected corresponding yield.

Assuming no potential exchange rate issues related to the fluctuation of the euro against the dollar, the financial result should become positive in 2023.

We are confident that our group, which benefits from a strong financial structure, will continue to grow in its various markets.

Mario MARTIGNONI

President – Chief Executive Officer