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1 Tesmec S.p.A.: The Board of Directors approves the Interim Consolidated Report on Operations as at 31 March 2013, which showed an increase in Revenues (+11%), thanks to the high technology content of its product range and strong global presence, as well as an increase of EBITDA (+4%) and of Net Profit (+167%) compared to the first quarter of Consolidated results for the first quarter of 2013 (vs. the first quarter of 2012): Revenues: Euro 25.9 million (+11%, compared to Euro 23.3 million as at 31 March 2012); EBITDA 1 : Euro 5.1 million (+4%, compared to Euro 4.9 million as at 31 March 2012); EBIT: Euro 3.6 million (+6%, compared to Euro 3.4 million as at 31 March 2012); Net profit: Euro 2.4 million (+167%, compared to Euro 0.9 million as at 31 March 2012). Net Financial Indebtedness: amounted to Euro 61.7 million, compared to Euro 61.9 million as at 31 March 2012 and Euro 56.5 million as at 31 December If the effects of IAS 17 for the rental agreement of the Grassobbio premises are not considered, Net Financial Indebtedness as at 31 March 2013 would have been Euro 41.2 million and Euro 35.8 million as at 31 December Total Outstanding Orders: Euro 62,1 million (+ 29% compared to Euro 48 million as at 31 March 2012 and +2% compared to Euro 60,9 million as at 31 December 2012) Grassobbio (Bergamo), 10 May 2013 The Board of Directors of Tesmec S.p.A. (MTA, STAR: TES), one of the leading global players able to offer integrated solutions for infrastructure relating to the transport of electricity, data and materials, convened at today s meeting chaired by Ambrogio Caccia Dominioni, examined and approved the Interim Consolidated Report on Operations as at 31 March In the first three months of 2013, thanks to the high technology content of its product range and strong global presence,the Tesmec Group showed an increase in Revenues (+11), as well as an increase in Net Profit (+167%), sustained by the good results recorded by the operations, whether by the favourable trend of the exchange rate with the US Dollar. Net profitability, calculated as the ratio between net profit and consolidated revenues, also increased from 4% as at 31 March 2012 to 9% of the first quarter 2012, on the increase by 5 percentage points. 1 The EBITDA is represented by the operating income before amortisation/depreciation. The EBITDA thus defined represents a measurement used by Company management to monitor and assess the company s operating performance. EBITDA is not recognised as a measure of performance by the IFRS and therefore is not to be considered an alternative measurement for assessing the performance of the Group s operating income. As the composition of EBITDA is not governed by the reference accounting standards, the criterion for determination applied by the Group may not be in line with the criterion adopted by others and therefore not comparable. Pagina 1 di 12

2 More specifically, revenues in the stringing equipment segment at 31 March 2013 benefited from the uptrend of the US market and from the contribution of orders relating to the electrification and maintenance of railway lines. Instead, as regards the Trencher segment, in the first quarter of 2013, the Tesmec Group recorded an increase in sales, particularly in the Middle Eastern market. These results are even more positive as they were recorded in the first half of the year, which traditionally tends to be of less importance to the Group s business. In actual fact, the Group s growth normally is progressing at a better pace than usual in the following quarters, as projects in the infrastructure segment start at the beginning of the year and budget allocations are actually only used in subsequent months. Therefore, in the light of the positive results achieved in the first quarter of the year, the trends recorded for product and market mixes, combined with new business activities undertaken, which will lead to better results in the second half of the year, the Group s top management are confident that they can confirm the 2013 guidelines in terms of revenues, profit margins and net financial position. Main consolidated results relating to the first quarter of 2013 As at 31 March 2013, the Tesmec Group recorded consolidated Revenues of Euro 25.9 million, up 11% compared to Euro 23.3 million recorded in the same period of Consolidated revenues by segment and geographic area as at With specific reference to the Stringing Equipment segment, as at 31 March 2013 the Tesmec Group recorded Revenues of Euro 16.6 million, up 12% compared to Euro 14.8 million in the first three months of In the first quarter of 2013, the revenues of the Trencher segment amounted to Euro 9.3 million, up 9% compared to Euro 8.5 million as at 31 March Results as at 31 March Revenues from sales and services (Euro in thousands) Change Stringing equipment 16,566 14, % Effect on Consolidated Revenues 64% 63% Trencher 9,315 8,556 +9% Effect on Consolidated Revenues 36% 37% Consolidated 25,881 23, % In geographic terms, in the first quarter of 2013, the Tesmec Group continued to grow in foreign markets, and more specifically recorded increases in the revenues of the BRICS (+52%), Middle East (+75%) and North and Central America (+30%) markets. Pagina 2 di 12

3 EBITDA as at 31 March 2013 Results as at 31 March (Euro in thousands) Revenues from sales and services 25,881 23,340 Operating costs net of depreciation and amortisation (20,814) (18,393) EBITDA 5,067 4,947 Effect on revenues 20% 21% As at 31 March 2013, consolidated EBITDA was Euro 5.1 million, up 4%, compared to Euro 4.9 million recorded as at 31 March The less than proportional rise of EBITDA compared to consolidated revenues is mainly due to the different profit margin profiles of the two business segments, with the Stringing Equipment segment showing more sustained growth. EBIT as at EBIT as at 31 March 2013 of the Tesmec Group was Euro 3.6 million, up 6% compared to Euro 3.4 million as at 31 March Net financial expenses and income as at 31 March 2013 Net financial expenses of the Tesmec Group fell from Euro 2 million (negative) as at 31 March 2012 to Euro 0.2 million (positive) as at 31 March This difference was almost entirely due to the positive impact of the exchange rate with the US dollar on end of period items. Net Profit as at Consolidated Net Profit as at 31 March 2013 of the Tesmec Group was Euro 2.4 million, significantly higher (+167%) than Euro 0.9 million recorded as at 31 March 2012, as a result of the good results achieved from operations combined with the improvement of net financial income and charges. Net working capital as at The net working capital of the Tesmec Group as at 31 March 2013 was Euro 54.7 million, compared to 31 December 2012, when it was Euro 48.8 million. This item was influence by the combination of lower trade receivables and higher inventory. Pagina 3 di 12

4 Net Financial Position as at The Net Financial Indebtedness of the Tesmec Group as at 31 March 2013 was Euro 61.7 million, and, if the effects of IAS 17 for the rental agreement of the Grassobbio premises are not considered, it would have been Euro 41.2 million. As at 31 March 2012, net financial indebtedness was Euro 61.9 million, while as at 31 December 2012 it was Euro 56.5 million and, if the effects of IAS 17 for the rental agreement of the Grassobbio premises are not considered, it would have been Euro 35.8 million. The change compared to 31 December 2012 is mainly due to changes in the Group s net working capital. Outstanding Orders as at As at 31 March 2013, Total Outstanding Orders of the Tesmec Group amounted to Euro 62.1 million, Euro 32,7 million of which refers to the stringing equipment segment and Euro 29.4 million of which to the Trencher segment, an increase of 29% compared to 48 million euro as at 31 March 2012 and up 2% compared to 60.9 million euro at December 31, The increase is mainly due to the positive order intake for the quarter mainly occurred in the field of stringing. Significant events relevant to the first quarter of 2013 On January 4, 2013 Tesmec Service S.r.l. acquired for a consideration of Euro 850 thousand a credit of Euro 1,969 thousand granted by the Norwegian company Mantena AS (merging of Mitrans AS), a company of services of the Norwegian Railway against AMC2 Srl in liquidation. The operation has the aim to reopen the channels of trade with the Norwegian railway company and to facilitate the finalization of the arrangement of AMC2 S.r.l. in liquidation where Tesmec Service S.r.l. would play the role of undertaker. Please note that Tesmec Service S.r.l. leads two branches rented of company in liquidation AMC2 that are fully operational. On 30 January 2013, pursuant to Article 3 of Consob Resolution no of 20 January 2012, the Board of Directors of Tesmec S.p.A. decided to comply with the opt-out system set forth in Articles 70, paragraph 8, and 71, paragraph 1-bis, of Consob Regulation no /99 (with further supplements and amendments), by making use of the right to depart from the obligation to publish information documents required by Enclosure 3B of the Consob Regulation above on the occasion of significant mergers, demergers, capital increase by non-cash contributions, acquisitions and sales; on 30 January 2013, the Shareholders' meeting of East Trenchers S.r.l. approved an increase in share capital of Euro 70 thousand. This increase was fully subscribed by Tesmec S.p.A. and paid-up for Euro 35 thousand on the same date. On the same date, the East Trenchers S.r.l. shareholders transferred a 14% share of the Share Capital to Tesmec S.p.A. As a result of the operation described above, as from 30 January 2013, Tesmec S.p.A. holds shares accounting for 91.2% of the capital of East Trenchers S.r.l.; on 14 March 2013, the Board of Directors of Tesmec S.p.A. adapted the Articles of Association to some regulatory provisions contained in Italian Legislative Decree no. 91 of 18 June 2012, in the manner prescribed by Article 2365, paragraph 2, of the Italian Civil Code and by Article 19, paragraph 2, of the Articles of Association. More precisely, the amendments to the articles of association established that the single session represents Pagina 4 di 12

5 the method predetermined for the organisation of the Shareholders' Meetings; On 31 March 2013, was signed by all the shareholders a capital increase for a total amount of USD 1 million, of Tesmec Peninsula LLC, owned by Tesmec Sp.A. with a share of 49%. Therefore as a result of the new share capital of Tesmec Peninsula today turns out to be equal to 2 million USD. As part of this transaction, all shareholders signed the shares of their respective competence and in particular Tesmec SpA subscribed to the increase in the amount of 490 thousand USD, equal to its share of 49%. The payment for the subscription took place entirely in the first days of April. Events occurring after the period under review On 30 April 2013, as part of shareholders to approve the 2012 financial statements, shareholders of Tesmec SpA have resolved to allocate the profit of the Parent Company, amounting to Euro 6,186 thousand, as follows: Euro 308 thousand to legal reserve; assign a dividend of Euro to each outstanding ordinary share on the ex-dividend date (+17% compared to Euro per share of previous year) with ex-dividend date 20 May 2013 and the payment of the dividend on 23 May 2013; allocate Euro 1,000 million to the common equity fund, pursuant to Article 42 of Italian Law Decree 78/2010, in relation to the Green Technologies network contract; assign to the Extraordinary Reserve the amount of profit remaining after the allocation to the Legal reserve, Reserve allocated to the network contract and to dividend. The Shareholders Meeting of 30 April 2013 renewed the Corporate Bodies confirming Dr. Ambrogio Caccia Dominioni Chairman of the Group. The Board of Directors, which was held after the Shareholders' Meeting chaired by Ambrogio Caccia Dominioni, confirmed him as Managing Director; Alfredo Brignoli and Gianluca Bolelli as Vice Chairmans. The Board of Directors also appointed for the Control and Risk Committee pursuant to the self-regulatory code of conduct, the Remuneration Committee and the Appointment Committee. The Control and Risk Committee comprises the Directors Sergio Arnoldi (Chairman), Gioacchino Attanzio and Gianluca Bolelli. The Remuneration Committee comprises the Directors Sergio Arnoldi (President), Gioacchino Attanzio and Caterina Caccia Dominioni. The Appointment Committee comprises the Directors Sergio Arnoldi and Gioacchino Attanzio. The Shareholders' Meeting authorised the Board of Directors of the Company, for a period of 18 months, to purchase, on the regulated market, ordinary shares of the Company until 10% of the share capital of the Company and within the limits of the distributable profits and of the available reserves resulting from the last financial statements approved by the company making the purchase. The authorisation also includes the right to dispose of (in whole or in part and also in several times) the shares in the portfolio subsequently, even before having exhausted the maximum amount of shares purchasable and to possibly repurchase the shares to the extent that the treasury shares held by the Pagina 5 di 12

6 Company and, if necessary, by the companies controlled by it, do not exceed the limit established by the authorisation. The quantity and the price at which transactions will be made will comply with the operating procedures laid down by the regulations. Today's authorisation replaces the last authorisation resolved by the Shareholders' Meeting of 10 January 2012 and maturing in June On April 30, 2013 the Board of Directors of Tesmec S.p.A. approved also the launch of a treasury share purchase program whose purposes, duration and value were laid down by the aforesaid resolution of the shareholders' meeting authorising the purchase, while the maximum quantity initially has been set at 5% of share capital. The Board of Directors finally decided that the maximum number of shares that can be purchased every day is defined in compliance with Article 5 of the EC 2273/2003 Regulation. On May 6, 2013 at the Court of Bari AMC2 Progetti e Prototipi S.r.l filed an appeal application for an arrangement with the subscription by Tesmec Service S.r.l as assumptor. **** At 2.30 PM(CET) 1.30 PM BST today, Friday 10th May 2013 Ambrogio Caccia Dominioni, Chairman and Managing Director of Tesmec S.p.A., and the Top Management of the Company will present the consolidated results as of March, 31, 2013 to the financial community during a conference call. The telephone numbers to be connected are the following: Italy partecipants: UK partecipants: Germany partecipants: France partecipants: Switzerland partecipants: The presentation to analysts and investors is available in the Investors section of the website. **** The manager responsible for preparing corporate accounting documents, Andrea Bramani, declares, pursuant to article 154-bis, paragraph 2, of Legislative Decree No. 58/1998 ("Consolidated Financial Act") that the information contained in this press release corresponds to the documentation, books and accounting records. It is to be noted that in this press release, in addition to the conventional financial indicators required by IFRS, there are also some alternative performance indicators (e.g. EBITDA) to allow for a better understanding of the economic and financial management. These indicators are consistent with common market practice. **** Pagina 6 di 12

7 The Interim Financial Report at 31 March 2013 will be made available to anyone who requests them at the administrative office and the Italian Stock Exchange and will also be available in the "Investors" section of the Company website as according to law. **** For further information: Tesmec S.p.A.: Marco Cabisto Investor Relator Tel Fax: tesmec.it Image Building Media Relations Simona Raffaelli, Alfredo Mele, Claudia Arrighini Tel tesmec@imagebuilding.it This press release is also available on in the "Investors" section: The Tesmec Group: The Group is mainly active in designing, manufacturing and selling special products and integrated solutions for the construction, maintenance and efficiency of infrastructures related to the transportation/delivery of energy, data and material. The Group, established in 1951 and led by Charmain & CEO Ambrogio Caccia Dominioni, relies on more than 400 employees and has five production plants: four in Italy, in Grassobbio (Bergamo), Endine Gaiano (Bergamo), Sirone (Lecco), Monopoli (Bari), and one in the USA, in Alvarado (Texas). From the IPO, July 1, 2010, the Parent Company has pursued a strategy of diversification of Business announced to offer a complete range of integrated solutions that has led it to have six different lines of business. The Group by six different business lines offers: machines and integrated systems for aerial and underground stringing, power lines and fiber optic cables; machines and integrated systems for the installation, maintenance and troubleshooting of overhead railroad wiring/catenaries as well as customized machines for special operations on the line; integrated solutions for efficiency, management and monitoring of the electricity networks of low, medium and high voltage (solutions for smart grids). high powered tracked trenchers for linear excavation of underground networks and pipelines, and delivery of data, raw materials, and liquid and gaseous materials. high powered tracked trenchers for mining and leveling works (RockHawg) consulting services and specialized excavation at the request of the customer; multi-purpose construction equipment (Gallmac). Pagina 7 di 12

8 Both business divisions are developed in accordance with the ISEQ (Innovation, Safety, Efficiency and Quality) philosophy, with environmental sustainability and energy conservation in mind. The know-how achieved in the development of specific technologies and solutions, and the presence of engineering teams and highly skilled technicians, allow Tesmec to directly manage the entire production chain: from the design, production and sale of machinery, to all pre-sales and post-sales. The combination of a cutting-edge product and a deep knowledge on the use of innovative technologies to meet the new demands of the market, allow the Group to offer a winning combination focused on ensuring high performance on the jobsite. Today, the Group does not only sell technologically advanced machines, but fully integrated systems for electrification and excavation that ensure extremely high performance on the job. These results come from the constant pursuit of innovation, safety, efficiency and quality also achieved though the installation of new software aboard our machines that allow safe, reliable and high performance. The Group also has a commercial presence globally in most foreign countries and can count on a direct presence in several continents, consisting of foreign companies and sales offices in USA, South Africa, Russia, Qatar, Bulgaria and China **** Attached below 2 : 2 Not subject to verification by the auditors. Pagina 8 di 12

9 Tesmec Group reclassified consolidated income statements 31 March Revenues Total operating costs (20.814) (19.936) Operating Income Financial (income) / expenses 159 (1.977) Share of profit / (loss) of associates and joint ventures (25) (7) Income before taxation Net income for the period EBITDA EBITDA (% on Revenue) 20% 21% Pagina 9 di 12

10 Tesmec Group reclassified consolidated statements of financial position ( in thousands) 31 March December 2012 Non-current assets Current assets Total assets Non-current liabilities Current liabilities Total liabilities Equity Total equity and liabilities Pagina 10 di 12

11 Tesmec Group reclassified consolidated cash flow statements ( in thousands) 31 March Net cash provided/(used) by operating activities (A) (3.313) (439) Net cash provided/(used) by investing activities (B) (5.165) (2.102) Net cash provided/(used) by financing activities ( C) (1.040) Increase / (decrease) in cash and cash equivalents (D=A+B+C) (9.518) (1.120) Cash and cash equivalents at the beginning of the period (F) Net effect of conversion of foreign currency on cash and cash equivalents (E) (3) 4 Total cash and cash equivalents at end of the period (G=D+E+F) Pagina 11 di 12

12 Tesmec Group other consolidated financial information ( in thousands) As 31 March 2013 As 31 December 2012 Net working capital Non current assets Other Non current assets and liabilities Net invested capital Net financial indebtedness 5 Equity Total equity and net financial indebtedness Net working capital We have calculated net working capital as trade receivables, inventories and other current assets (excluding cash and cash equivalents) less trade payables and other current payables. Net working capital is not a recognized measure of financial performance or liquidity under IFRS. No undue reliance should be placed on the net working capital data contained in this Press Release. 4 We have calculated net invested capital as net working capital plus non-current assets less non-current liabilities excluding non-current financial liabilities. Net invested capital is not a recognized measure of financial performance or liquidity under IFRS. No undue reliance should be placed on the net working capital data contained in this Press Release. 5 We have calculated net financial indebtedness as short-term borrowings, current portion of long-term debt and long-term debt less cash and cash equivalents. Net financial indebtedness is not a recognized measure of financial performance or liquidity under IFRS. No undue reliance should be placed on the net working capital data contained in this Press Release. 6 We have calculated net working capital as trade receivables, inventories and other current assets (excluding cash and cash equivalents) less trade payables and other current payables. Net working capital is not a recognized measure of financial performance or liquidity under IFRS. No undue reliance should be placed on the net working capital data contained in this Press Release. Pagina 12 di 12